Chinese-founded fast-fashion giant Shein saw profits plunge over 70 per cent in the first half of 2024 due to fierce competition from rivals such as PDD Holdings’ Temu, according to a report by The Information. Revenue growth of the Singapore-registered company slowed to 23 per cent during the period, down from 40 per cent for … Read more
New Delhi: The Indian subsidiary of South Korean automotive giant Hyundai Motor is set to make its stock market debut this week following a record initial public offering (IPO), according to industry officials on Monday. Shares of Hyundai Motor India are set to start trading on the Indian stock market on Tuesday, following last week’s … Read more
China-based autonomous driving firm Pony AI, backed by carmaker Toyota, filed for an initial public offering in the US on Thursday, in another sign of growing investor interest in new listings and easing regulatory pressures. Activity in the IPO market has picked up pace in recent weeks, buoyed by the US Federal Reserve kicking off … Read more
Tencent Holdings and Ubisoft Entertainment’s founding Guillemot family are considering options, including a potential buyout of the French video gaming company, after it lost more than half its market value this year, according to people familiar with the matter. The Chinese internet giant and Guillemot Brothers have been speaking with advisers to help explore ways … Read more
Arm Holdings approached Intel Corp about potentially buying the ailing chip maker’s product division, only to be told that the business is not for sale, according to a person with direct knowledge of the matter. In the high-level inquiry, Arm did not express interest in Intel’s manufacturing operations, said the person, who asked not to … Read more
Chinese-founded fast-fashion online retailer Shein is laying off about two dozen employees at its Singapore headquarters, the company said on Wednesday, as the e-commerce firm restructures part of its business amid doubts about its initial public offering plan in London. More than 20 employees are affected by the lay-offs that are part of a restructuring … Read more
ByteDance, whose short video hit TikTok is under pressure to exit the US market, said Philippe Laffont, founder of New York-based Coatue Management, has exited the company’s board of directors, replaced by French businessman Xavier Niel. The Chinese company’s official website currently lists four other board members: CEO and chairman Liang Rubo, Susquehanna International Group … Read more
Opinions expressed by Entrepreneur contributors are their own. Navigating a startup’s IPO process is a crucial moment for any company. As a late-stage VC investor, I’ve invested in several companies through this challenging phase. Here, I’ll share my key strategies and actionable advice for balancing innovation with compliance to ensure a successful public offering. 1. … Read more
“Our initial budget is HK$400 million,” iFlytek senior vice-president Duan Dawei told the South China Morning Post at the opening ceremony of the new premises on Friday. “If everything goes well [in Hong Kong], that figure is going to be more.” Duan Dawei, senior vice-president at iFlyTek, speaks at the opening ceremony of the firm’s … Read more
ByteDance, the owner of popular short video app TikTok, is adjusting its policy on share options so that employees can use less cash to pay taxes and are able to resell their shares faster. The company recently informed its US-based employees that they can withhold up to 37 per cent of the vested restricted stock … Read more
