Alibaba International Posts Strong Revenue Growth, Narrowing Losses
Key Takeaways:
Alibaba International’s revenue grew 41% in the June quarter, following consolidation of its various global assets under a single leadership team
Deflated Tom Group Mired In Losses 23 Years After Splashy Debut
Key Takeaways:
• Tom Group returned to the red in the first half of this year, after posting its first annual profit last year since 2018
• The company earns most of its revenue from a Taiwan publishing unit, and also invests in tech companies
By Edith Terry
GreenTree Attracts Investors With New Green Shoots
Key Takeaways:
GreenTree Hospitality’s revenue from its organic hotel business rose 17% in the first quarter, as its revpar rose by an even stronger 25%
The hotel operator also closed its purchase of two restaurant chains during the quarter, which will become strong contributors to its revenue
By Doug Young
Yalla Tilts To Gaming Sector With Emphasis On Maintaining Profits
Key Takeaways:
Yalla Group’s net margin improved to 27.1% in the first quarter, as it followed a strategy of maintaining low-debt and operating profitably
The company launched its first hard-core game, the self-developed ‘Age of Legends,’ as its share of revenues from gaming climbs
By Edith Terry
JD’s Boardroom Shuffle Ignites Talk Of Founder’s Return
Key Takeaways:
The founder of JD.com, Richard Liu, stepped down as CEO last April. His successor, Xu Lei, has said that the boss never really left, suggesting the CEO title conferred limited power
JD.com’s first-quarter adjusted net profit rose 88% to 7.59 billion yuan, and some analysts are upbeat about the outlook
Yum China Serves Up Hot Margins, But Warns Of ‘Uncertain’ Recovery
Key Takeaways:
Yum China recorded strong sales growth and its highest quarterly restaurant margin since 2017 on sales leveraging, improved efficiencies, cost controls and temporary relief
UP Fintech Talks Up TigerGPT As New Investor Tool
Key Takeaways:
UP Fintech has unveiled its TigerGPT investment aide, which will help its customers consider the huge amounts of publicly available data when picking stocks
Geely-Backed iMotion Eyes IPO Fast Lane For Self-Driving Tech
Key Takeaways:
Revenues have surged at iMotion Automotive since it started producing control systems for autonomous driving in 2021
But the company faces competition for investment cash as a host of other tech firms in the self-driving sector prepare to go public
By Emily Chan
NetDragon Hopes To Deliver Lesson In Value With Education Spinoff
Key Takeaways:
NetDragon will separately list its international education business in New York through a backdoor listing using Gravitas Education
The company believes the education unit being listed is worth $750 million, far less than its current valuation based on Gravitas’ and NetDragon’s share prices