Hong Kong stock exchange

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

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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 records. Following those moves, the biggest shareholder of GoGoX remains billionaire … Read more

Baidu’s move to cancel YY Live acquisition amid fierce market competition, tougher regulation a boon to firm’s AI business expansion, analysts say

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This move was “not totally unexpected, given investors have been waiting for more details in past years”, Jefferies equity analysts Thomas Chong and Zoey Zong said in a research note on Monday, following Baidu’s announcement. They indicated that China’s internet sector “has been undergoing changes”, which reflects Baidu’s focus on generative AI. “For Baidu, Ernie … Read more