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Markets

Chinese AI start-up Moonshot seeks influential ambassadors to widen Kimi’s global reach

Start-up is recruiting entrepreneurs, developers, creators and students who use Kimi to share their experiences with broader communities The Beijing-based start-up on Tuesday launched the “Kimi Ambassador Program”, aimed at “passionate Kimi users to build up communities and the future of AI”, according to its website. The move comes as Moonshot seeks to turn the growing attention around Kimi K3 into broader adoption among developers and creators. Unlike traditional software products, AI models often need users to adapt them to specific workflows, making external developers and communities an increasingly important channel for discovering new use cases. The company was recruiting entrepreneurs, developers, content creators and university students who were “influential” in their own communities, had integrated Kimi into products or workflows and were willing to share their experiences and passions to a broader community, it said. The application process reflects the type of users Moonshot hopes to attract.

July 29, 2026

Markets

Why is Zhongji unveiling US$1.2 billion in buy-backs before its Hong Kong debut?

The optical-module maker plans to buy back shares denominated in yuan to anchor pricing before its initial public offering in the city The buy-back came on the heels of a sell-off in Zhongji’s yuan-denominated stock, which was closing in on the offer price of HK$980 for the Hong Kong initial public offering (IPO). A further decline in the onshore stock would increase the risk that its Hong Kong-listed shares dip below the IPO price on the first day of trading, a setback for the company as it banks on an offshore listing to expand its overseas business and build up a corporate image among global investors. “Zhongji’s buy-back plan comes at a sensitive time, namely just ahead of its Hong Kong listing,” said Dai Ming, a fund manager at Huichen Asset Management. “The most plausible reason for doing this is to bolster sentiment before the Hong Kong debut,” he added.

July 29, 2026

Markets

How ‘Hoe Hin White Flower Embrocation’ keeps a century-old family legacy in bloom

The family’s fourth generation will drive medicinal oil business forward by protecting its trusted qualities that are unchanged since 1927 For any family business built up over many decades, succession is rarely as simple as passing down a title. Each generation must understand the values and qualities that have made the company popular with customers, while finding ways to carry on its legacy and ensure it endures. That process often requires both emotional and practical preparation for family-owner businesses, says Christine Wong, Bank of Singapore’s head of wealth planning for Greater China and North Asia. “Succession is not only about deciding who will lead next, but also about putting the right structures in place so a family’s values, responsibilities and long-term vision can be preserved and continue to guide the business in the years ahead,” she says. For Hoe Hin Pak Fah Yeow – Cantonese for “Harmonious and Prosperous White Flower Oil” – which is known on its packaging as Hoe Hin White Flower Embrocation, that question carries almost a century of history.

July 29, 2026

Markets

China’s ATRenew has big plans for Hong Kong’s little-known phone trading hub

New York-listed firm aims to modernise the city’s opaque wholesale market, which sits at the centre of a vast global network for used devices China’s largest second-hand electronics platform, ATRenew, plans to use its technology and trading standards to modernise Hong Kong’s huge wholesale market for pre-owned devices, as it seeks to make the city a springboard for its global expansion. The New York-listed company on Tuesday launched FoneSquare – a cross-border business-to-business online marketplace for used electronics – as well as ReRe, a new consumer brand making its debut with a store in Hong Kong. While the bricks-and-mortar outlet will test demand for certified second-hand products in Hong Kong, executives said the wholesale platform would be central to the group’s international growth strategy. “We’ve already proven the model in what is probably the world’s most complex second-hand electronics market,” Ji said, adding the company had built a mature sourcing network, merchant ecosystem, automated inspection system and unified grading standards. Hong Kong is ATRenew’s first stop because it already sits at the heart of the global used-phone trade, according to the company.

July 29, 2026

Markets

Chinese AI chip giant Cambricon sets US$14.8b revenue goal tied to staff incentive plan

Initiative reflects push to retain core talent amid intensifying competition to develop and commercialise domestic AI chips The goal marked a nearly 20-fold increase from its previous plan set three years ago, which aimed for 4.6 billion yuan in cumulative revenue from 2024 to 2026. The Shanghai-listed company said on Tuesday that it planned to grant 5 million restricted shares – equal to 0.8 per cent of the company’s total share capital – at a grant price of 750 yuan per share, according to stock exchange filings. Cambricon shares traded at 1,146.90 yuan as of market close on Wednesday. The initiative covers more than 85 per cent of its 1,107-person workforce as of the end of 2025. Eligible staff included board directors, senior executives and core technical personnel, alongside mid-level managers, Cambricon said. It set a target of more than 13.5 billion yuan in revenue for 2026 alone, and 40.5 billion yuan for 2026 and 2027 combined. Shares would be granted to employees upon meeting these milestones, alongside the broader three‑year goal.

July 29, 2026

Markets

China’s Pop Mart opens new store in Singapore’s Sentosa amid slowing domestic sales

Popular toymaker targets global expansion and revenue diversification, looking beyond just collectibles Chinese toymaker Pop Mart International ramped up its global expansion on Wednesday by opening a new store on Singapore’s Sentosa Island – alongside its first overseas Pop Bakery dessert store in the same venue – with observers predicting that more overseas locations would help drive growth, especially those in underpenetrated markets. The launch comes amid softer domestic sales and normalising demand after a strong intellectual property cycle in 2025. Analysts said improved inventory availability has also reduced the scarcity-driven traffic that helped form the brand’s identity. After spending the past half-decade expanding in Singapore, Pop Mart opened its new stand-alone store directly opposite Universal Studios Singapore. The two-floor space houses Pop Mart on the ground floor and its Pop Bakery line upstairs. “The Sentosa store represents the future form of retailing for Pop Mart, with mixed-type offerings,” said Jeff Zhang, a senior equity analyst for Morningstar. “We expect Pop Mart to open more duplexes over the next few years.

July 29, 2026

Markets

Standard Chartered posts 10% rise in first-half profit, launches US$1b buy-back

Share price surges on 38 per cent rise in wealth-management revenue, even as Middle East tensions and bad debt temper profit growth Standard Chartered shares rose 3.9 per cent to HK$231.40 on Wednesday after the bank announced strong first-half results and a US$1 billion share buy-back programme. Net profit climbed 10 per cent in the first six months of 2026 to a record US$3.37 billion, or 151.6 US cents per share, from US$3.07 billion a year earlier. The result was better than the analysts’ estimate of US$3.01 billion. Pre-tax profit increased by 9 per cent to US$4.78 billion in the first half, compared with US$4.38 billion a year earlier. The bank announced an interim dividend of 20.4 US cents a share, up 66 per cent from a year earlier. “Our performance demonstrates the strength of our differentiated international network and the disciplined execution of our strategy. Clients continue to turn to us to facilitate trade, investment and wealth flows across the world’s most dynamic markets,” said CEO Bill Winters in an earnings statement to the Hong Kong stock exchange.

July 29, 2026

Markets

Hong Kong stocks hunker down for a day packed with Fed decision, jumbo IPO debut

Both a US Fed rate policy meeting and the largest initial public offering in Hong Kong in seven years will occur on Thursday Hong Kong stocks are gearing up for an eventful day on Thursday, when both a rate decision by the US Federal Reserve and a debut of the city’s largest initial public offering (IPO) in seven years coincide to test investors’ risk appetite. Warsh, who took over the world’s biggest central bank in May, struck a hawkish tone in his first rate decision meeting last month, while also pledging to uphold the Fed’s independence in testimony before lawmakers. “For markets, the July meeting is therefore less about whether the Fed hikes this week and more about how close it believes the economy is to the tripwire,” said Stephen Innes, a managing partner at SPI Asset Management. “A hold accompanied by stronger language on inflation and geopolitical risk could still tighten financial conditions, particularly if Warsh refuses to push back against the market’s hawkish pricing.”

July 29, 2026

Markets

Turning tenants into sustainability partners

Having surpassed its 2030 Scope 3 GHG emissions target for downstream leased assets ahead of schedule, Swire Properties is stepping up efforts to engage tenants in reducing emissions, waste and resource consumption across the building lifecycle [The content of this article has been produced by our advertising partner.] In the built environment, long-term sustainability performance depends on how a building is designed and constructed, as well as how occupiers manage and use the space each day. That collective responsibility, carried by landlords and occupiers alike, is driving the next phase of Swire Properties’ sustainability vision. Following a year-long review, the developer has renewed its SD 2050 Strategy in its continuous efforts to align business performance, people and nature across the built environment. The growing role of tenants was evident at the Green Performance Pledge Forum 2026, held at ArtisTree in Taikoo Place in early July. The event recognised the environmental performance of participating companies while providing a forum for tenants and businesses to exchange ideas on resilience and sustainability.

July 28, 2026

Markets

From CXMT to Zhipu: How Alibaba’s investment pays off with a growing AI and chip portfolio

ChangXin Memory Technologies (CXMT) and Zhipu AI have not only seen their share prices skyrocket, but they have also handed a windfall to their common backer: Alibaba Group Holding. Before the listing of China’s memory-chip giant on Monday, Alibaba owned nearly 5 per cent of CXMT, making it the chipmaker’s largest industrial shareholder, according to the prospectus. Alibaba has invested about 7.6 billion yuan in CXMT since 2021. Based on Tuesday’s closing market capitalisation of about 3.14...

July 28, 2026

Markets

Sun Life targets Asia’s booming wealth transfer market with new platform

Insurer joins global scramble to serve Asian clients looking to transfer wealth to next generation via insurance products Canadian insurer Sun Life has launched a new platform targeting Asia’s fastest-growing wealth management markets, as high-net-worth individuals in the region increasingly seek to use insurance products to protect their wealth and pass it on to the next generation. The integrated platform – named Sun Life Private Wealth – was launched on Tuesday with about 400 staff spread across Hong Kong, Singapore, Bermuda, Dubai, Canada, Ireland and the United States. It will serve high-net-worth customers with at least US$1 million of investible assets and ultra-high-net-worth individuals with at least US$30 million, according to the company. Rival insurers including Manulife, HSBC Life and AXA have also been exploring similar services recently, amid a trend for wealthy individuals looking to use insurance as a tool to pass on their assets to the next generation.

July 28, 2026

Markets

China’s home-grown DUV progress not the biggest threat to ASML, analysts say

Dutch leader’s dominance in chipmaking gear not at risk amid China’s lithography push – unless the US steps in Western anxiety over a potential breakthrough in Chinese chipmaking gear may be rising, but home-grown machines are not the greatest threat facing industry leader ASML, according to analysts. The Dutch firm’s shares fell more than 8 per cent at one point on Monday in the US before closing down 5.8 per cent, after The Information reported that China had begun manufacturing home-grown immersion deep-ultraviolet (DUV) lithography machines through a state-backed company in Shanghai. China would produce about five DUV units this year and around 20 in 2027, The Information reported, citing anonymous sources. The first systems were expected to go to Semiconductor Manufacturing International Corporation (SMIC), Hua Hong Semiconductor and memory-chipmaker ChangXin Memory Technologies (CXMT), the report said. While the news fuelled a rally in lithography-related shares in mainland markets on Tuesday – sending Zhangjiang Hi-Tech, Yongxin Optics, Highly Group and Wavelength Opto-Electronic to their daily limits – industry observers urged caution over the reported advance.

July 28, 2026