Edith Terry News Today

Key Takeaways: Baozun’s revenues rose 5% last year following its acquisition of Gap China, which represented 14% of total annual sales Product sales from the company’s older e-commerce business fell by 21% last year, while e-commerce services revenue also slumped by 5% By Edith Terry

Key Takeaways: Chow Tai Fook’s sales grew 12.4% in the first three months of this year, accelerating from the company’s 6% revenue growth in the six months through September 2023 As China’s largest listed jeweler, Chow Tai Fook could benefit from gold’s recent rise to record high prices By Edith Terry

Key Takeaways: Niu Technologies said its unit sales at home and abroad rose more than 30% in the first quarter, following a tough 2023 when its revenue fell 16% The electric scooter maker’s shares jumped 34% from an all-time low in the week following the announcement By Edith Terry

Key Takeaways: China Feihe posted declines in both profits and sales last year, as it is heavily exposed to the country’s falling birth rate The company, which gets 91% of its revenue from infant milk formula, may remain attractive to investors due to its pledge to pay much of its profits as dividends By Edith Terry

Key Takeaways: So-Young reported an annual profit last year, reversing two years of losses, as its revenue rose 19% The company’s new So-Young Prime service for high-end users helped to fuel a 22.2% revenue jump in its information services segment last year By Edith Terry

Key Takeaways: Longtime Club Med President Henri Giscard d’Estaing has resigned from the board of the company’s parent, Fosun Tourism Club Med’s business has rocketed post-Covid, dampening speculation that Fosun Tourism may be considering a sale of the French resort operator By Edith Terry

Key Takeaways: China Literature’s acquisition of Tencent’s comics and animation unit brings all of the latter’s long-form print and filmed entertainment assets under one roof Tencent has been unloading loss-making businesses amid an ongoing crackdown on anti-competitive practices in China’s tech sector

Key Takeaways: Meitu has completed a new funding for its Singapore-based Pixocial unit that accounted for a major portion of the company’s net income in 2022 The new funding raised $22 million from participants including Fidelity’s Eight Roads investment arm, valuing Pixocial at more than $100 million

Key Takeaways: Shiyue Daotian has sizzled in the week since its trading debut, as investors bet on its position as one of China’s top premium rice sellers The company’s pre-IPO backers include such big names as HongShan and Mubadala Capital, owned by Abu Dhabi’s sovereign wealth fund By Edith Terry

Key Takeaways: Kaixin Auto aims to become a new energy vehicle maker with its acquisition of WM Motor and another NEV maker, even as the industry heads toward consolidation