Initial public offering Tag

13 Apr Alibaba, navigating sea change, reorients business towards bread-and-butter e-commerce and AI, pares down overhaul

Posted at 02:00h in Asia

By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory...

Read More

09 Apr HSBC summit: Hong Kong’s financial ecosystem is robust, resilient and unwavering, HKMA’s Eddie Yue and SFC’s Julia Leung say

Posted at 10:30h in Asia

“You may still hear noises or perceptions … [that] Hong Kong’s growth as a financial centre is fading,” Yue said. “But if you look at the numbers, they paint for you a very different story.“Look at the facts. Hong Kong’s ecosystem is robust.”More than 2,500...

Read More

29 Mar Syngenta withdraws Shanghai IPO application, will restart process in China or elsewhere ‘when the conditions are right’

Posted at 14:30h in Asia

Swiss agrichemicals and seeds giant Syngenta Group has withdrawn its application for a listing in Shanghai amid mainland China’s slowing equities market, dashing hopes for one of the largest share sales this year in the country’s commercial hub.The Shanghai Stock Exchange said it had terminated...

Read More

29 Mar ByteDance raises annual bonus for high-performing employees amid restructuring and latest TikTok crisis in US

Posted at 13:30h in Asia

While employees have started to receive their bonuses for the past year based on their performance review, those who were rated “M” or higher will be rewarded extra payment of between 5 per cent to 15 per cent of their original bonus, according to Hua...

Read More

27 Mar Alibaba’s logistics unit Cainiao to double year-end bonus for employees, in morale-boosting move after scrapped IPO

Posted at 09:30h in Asia

Hangzhou-based Cainiao will launch an “entrepreneurship incentive plan” that will double the bonus pool allocated for the financial year ending March 31, 2025, according to company chief executive Wan Lin in excerpts from an internal letter seen by the South China Morning Post.That means employees...

Read More

30 Jan ByteDance CEO wants to whip employees into shape, as they lack a ‘sense of crisis’ amid fierce competition at home and abroad

Posted at 13:43h in Asia

The chief executive of ByteDance, owner of TikTok and its Chinese sibling Douyin, said the company lacks a sense of crisis, which has made the Chinese social media giant slow and inefficient in the face of fierce competition.That introspection was made...

Read More

19 Jan TikTok owner ByteDance allows employees to cash in stock options earlier under new payroll policy

Posted at 10:00h in Asia

ByteDance, owner of global short video hit TikTok and its Chinese sibling Douyin, has adjusted its payroll policy to allow employees to sell their stock options faster, as plans for an initial public offering (IPO) remain in limbo.Under the new rule, applicable to ByteDance’s 110,000...

Read More

04 Jan Alibaba reduces stake in GoGoX amid Hong Kong logistics services firm’s mounting losses, as it faces cutthroat competition on the mainland

Posted at 15:00h in Asia

Alibaba, which owns the South China Morning Post, has cut its GoGoX stake four times over the past two months, slashing its equity holding to 8.89 per cent as of late December from 12.23 per cent in mid-2023, according to Hong Kong stock exchange...

Read More