Articles written by Bamboo Works - Benzinga

Hesai Zooms Ahead In Third Quarter, Setting Stage For Milestone Year

Key Takeaways: Hesai’s third quarter revenue rose 21.1% year-on-year to 540 million yuan ($76.9 million), surpassing the top end of its earlier guidance. The company could generate $100 million in fourth-quarter revenue and achieve non-GAAP profitability for 2024, hoping it can become the first profitable automotive LiDAR firm

Lenovo's AI seeds Begin Bearing Fruit, As Geopolitics Continue To Weigh

Key Takeaways: Global PC leader Lenovo’s profit jumped 41% in the six months through September, as its revenue rose 22% Revenue from the company’s non-PC segments accounted for 46% of its total in the first half of its fiscal year, an all-time high By Lee Shih Ta

Starbucks Looks For New Friends In Choppy China Coffee Waters

Trade-in 'Chic' Helps Boost ATRenew To First Operating Profit

Key Takeaways: ATRenew’s revenue rose 24.4% in the third quarter, and it predicted similar growth in the fourth quarter following strong results from its ‘Double 11’ promotions with JD.com

NaaS Drives Into Third Quarter With First-Ever Quarterly Non-IFRS Profit

Key Takeaways: NaaS Technology reported its first non-IFRS quarterly profit in the three months to September, as well as a record-high gross margin As China’s leading provider of services to EV charging station operators, NaaS has wound down its low margin offline business to focus on higher-margin platform-based management services

Tam Jai Results Leave Sour Taste Of Dining Downturn

Key Takeaways: The company’s net profit more than halved in the first half of the year, squeezed by price competition and weak consumer confidence The dining chain is planning to scale back its network in mainland China and Singapore By Lau Chi Hang

CiDi Sets IPO Course With Its Self-Driving Trucks

Key Takeaways: The company’s revenues surged 472% to 260 million yuan in the first half of this year Income from autonomous driving products rocketed to 60% of overall revenue in the half-year period By Lee Shih Ta

Rebounding RLX Plots Course Beyond China

Key Takeaways: RLX’s third quarter revenue rose 52%, as its gross margin rose more than 3 percentage points to 27.2% following a regulatory crackdown in 2021 A year after expanding beyond its China base, international business accounted for more than half of the vaping company’s revenues in the third quarter

Hong Kong Builds 'Patient Capital' Ecosystem To Foster Technology

Yalla Holds Out 2025 As Its 'Year Of The Game' As Growth Picks Up

Key Takeaways: Yalla is nearing the testing phase for two of its self-developed mid-core games, with wide-scale launches possible sometime next year The company’s revenue grew 4.4% in the third quarter, but analysts expect that pace to pick up next year as it ramps up initiatives aimed at mid- and hardcore gamers

Mao Geping's Hong Kong IPO Gets Lift From Regulatory Nod

Key Takeaways: Mao Geping’s Hong Kong IPO has been cleared by the China Securities Regulatory Commission, but must still be approved by the Hong Kong Stock Exchange

Dmall Shops For Investors, Even As Business Remains Mostly A Family Affair

Key Takeaways: In its recent application for a Hong Kong IPO, Dmall revealed that its top five customers account for nearly 90% of its revenue Pre-IPO backers of the provider of software as a service for retailers include Tencent and Industrial Bank, as the company continues to report big losses By Bai Xinrui

Breton Eyes Big Haul From Investors With Hong Kong IPO Plan

Key Takeaways: Breton Technology has filed for a Hong Kong IPO, reporting strong growth for its business making and selling electric-powered loaders and dump trucks The company looks well positioned to benefit from China’s strong support for green technology makers By Doug Young

Budweiser's China Glass Drains As Consumers Have Less To Toast

Key Takeaways: Budweiser APAC’s profit fell 15% in the first nine months of the year as its revenue in China fell 16.1% in the third quarter The mainstream beer maker’s efforts to develop higher-end products may be meeting with headwinds from increasingly cautious Chinese consumer By Lau Chi Hang

Innovent Ditches Low-Value Stake Sale After Investor Outcry

Key Takeaways: Innovent said its intention was to demonstrate executives’ commitment to the overseas business, but the deal was dropped after a backlash over pricing

Cango Builds Up Global Capabilities In Search Of New Direction

Key Takeaways: Cango is aggressively building up a customer base and support services to export Chinese cars to the rest of the world, with 60,000 registered users for its AutoCango.com site

Huawei's HarmonyOS NEXT Faces Major Test With WeChat: Will It Pass?

Dogness Limps Ahead As Investors Chase Its Stock

Key Takeaways: Dogness’ revenue fell to $14.8 million in its fiscal year through June, as it reported a second consecutive annual loss The pet product maker’s stock has soared since February, including a more than sevenfold gain since it raised $5 million through a private placement in May By Doug Young

Huoli Rides China Travel Boom To Hong Kong IPO

Key Takeaways: Huoli has filed to list in Hong Kong, reporting its travel service revenue rose 22% and gross margin improved by 1.2 percentage points in the first half of 2024 The company is a distant third in China’s online travel market, behind industry leaders Trip.com and Tongcheng By Edith Terry

NEWS WRAP: Yum China Boosts Returns To Shareholders On Strong Quarterly Results