BUSINESS >> Companies

Leshi warns of $1.8b annual loss

Chinese video-streaming company Leshi Internet has warned of a net loss of 11.6 billion yuan ($1.83 billion) for 2017, its first annual loss as a listed company, citing a cash crunch at founder Jia Yueting's embattled technology conglomerate LeEco.
Source: Reuters-Global Times | 2018/1/31 21:23:40

Foxconn to list subsidiary in Shanghai

Shareholders of Hon Hai Precision Industry Co, better known as Foxconn, a major contractor of US tech giant Apple Inc, on Wednesday approved a plan to list the company's subsidiary Foxconn Industrial Internet Co (FII) on the Shanghai Stock Exchange.
Source: Reuters-Global Times | 2018/1/31 21:23:39

Revamped Santa Fe key to Hyundai's hopes for ending US sales slump

Hyundai Motor unveiled on Tuesday a re-designed Santa Fe, hoping the first makeover of the sport utility vehicle (SUV) in six years will help end its sales slowdown, especially in the key US market.
Source: Reuters-Global Times | 2018/1/31 20:03:40

ZhongAn launches big data platform to serve vehicle-sector partners

ZhongAn Online Property and Casualty Insurance Co, China's first internet insurer, unveiled its big data platform called Data Cube on Wednesday, part of its effort to create a big data ecosystem in the industry and serve its vehicle-sector partners by sharing data with other insurers.
Source: Global Times | 2018/1/31 19:53:39

Chinese stocks end mixed; gains in property, consumer firms support blue-chips

Chinese stocks ended mixed on Wednesday, with the blue-chip index recouping earlier losses to close higher, aided by a bounce in real estate and consumer firms. At the close, the Shanghai Composite Index was down 7.18 points, or 0.21 percent, at 3,481.51, while the blue-chip CSI300 index was up 0.47 percent.
Source: Reuters-Global Times | 2018/1/31 19:38:39

Rise of the 'cyberstudent'

China's paid knowledge sector embraced a boom in 2017 as an increasing number of consumers are willing to pay for digital content. Popular online platforms such as iGet and ximalaya.com attracted large user bases and harvested plenty of sales through launching services like audio books, celebrity courses and live videos last year. The continuous advancement of the internet and changes to Chinese consumers' consumption habits are significantly contributing to the development of the sector. And experts say that such trends will continue to grow over the next three to five years if the quality of products can be guaranteed.
Source: Global Times | 2018/1/31 19:18:39

Inspirational work environment helps team members thrive

Hilton has been named one of China's Best Companies to Work For by global leading research and consulting firm the Great Place to Work Institute.
Source: Global Times | 2018/1/31 18:18:39

Foxconn lists its subsidiary on Shanghai Stock Exchange in aim to upgrade manufacturing lines

Shareholders of Hon Hai Precision Industry Co, better known as Foxconn, a major contractor of US tech giant Apple Inc, approved to list the company's subsidiary Foxconn Industrial Internet Co Ltd (FII) on the Shanghai Stock Exchange on Wednesday.
Source: Global Times | 2018/1/31 13:03:39

Chinese company completes first dredging project at Ukraine's Black Sea port

The Beijing-based China Harbor Engineering Company (CHEC) has completed the first dredging project at Ukraine's Black Sea port of Yuzhny and the handover ceremony was held on Tuesday in the Ukrainian Infrastructure Ministry in Kiev.
Source: Xinhua | 2018/1/31 10:15:33

Facebook bans all ads for bitcoin and other cryptocurrencies

Facebook said on Tuesday that no "deceptive promotional practices such as cryptocurrency" will be allowed in any ads on its website.
Source: Xinhua | 2018/1/31 9:14:32

China's private courier businesses use more int'l freight flights

Chinese private courier companies are increasingly using international freight flights to transport goods as global e-commerce booms.
Source: Xinhua | 2018/1/30 22:42:01

HNA 'may face liquidity crunch'

China's HNA Group has told creditors it potentially faces a liquidity shortfall of at least 15 billion yuan ($2.4 billion) in the first quarter of 2018 as repayments to creditors come due, Bloomberg reported on Tuesday, citing unidentified sources.
Source: Reuters-Global Times | 2018/1/30 21:28:40

GM to launch new, redesigned models

General Motors Co plans to launch 15 models of new and redesigned vehicles in China this year, in a bid to "strengthen sales momentum" in the world's biggest automobile market, the company said on Tuesday.
Source: Reuters-Global Times | 2018/1/30 21:28:40

Nanjing Red Sun eyes Ruralco

Nanjing Red Sun has rolled out a two-step plan to acquire 60 percent of Argentina-based agriculture products producer Ruralco in a deal valued at about $23 million, according to a statement the Chinese company sent to the Shenzhen Stock Exchange on Tuesday.
Source: Global Times | 2018/1/30 21:28:39

DMC takes control of Valiant

Shenzhen-listed entertainment and media company DMG Entertainment acquired full ownership of US comic books publisher Valiant Entertainment on Tuesday, Forbes reported the same day.
Source: Global Times | 2018/1/30 21:23:39

Sogou bets on AI to challenge Baidu

Chinese search engine Sogou sees itself as a growing rival to search leader Baidu, as its artificial intelligence (AI) push will pay off with a bigger market share, the company's CEO said on Tuesday.
Source: Global Times | 2018/1/30 21:18:39

Muji's China subsidiary corrects map with wrong borders

Muji (Shanghai) Co, a subsidiary of Japanese retailer Ryohin Keikaku Co (known as Muji), has confirmed that there was a "map problem" incident involving one of its product catalogues, with some borders and Chinese islands missing. The company said on Tuesday it had corrected the error.
Source: Global Times | 2018/1/30 21:13:40

Internet firms fight for access control as battle for market share intensifies

The battle between Chinese internet companies escalated this week as Beijing-based news and information content platform Toutiao announced it will sue search engine Baidu Inc.
Source: Global Times | 2018/1/30 21:13:39