MiniMax, the artificial intelligence (AI) start-up backed by two of China’s largest technology conglomerates, has confidentially applied for a Hong Kong initial public offering (IPO), according to people familiar with the matter. China International Capital Corporation and UBS are the sponsors for the listing, according to the sources, who declined to be identified for discussing…
MiniMax, the artificial intelligence (AI) start-up backed by two of China’s largest technology conglomerates, has confidentially applied for a Hong Kong initial public offering (IPO), according to people familiar with the matter. China International Capital Corporation and UBS are the sponsors for the listing, according to the sources, who declined to be identified for discussing…
Chinese artificial intelligence (AI) stocks are expected to defy a slowdown across industries, as the mainland relies on the technology to boost business efficiency and revive economic growth, according to investors and analysts. Companies including Meituan and Xiaomi were set to benefit from a wave of AI integration that would transform business models, according to…
From Christian Dior to Gianfranco Ferré and Maria Grazia Chiuri, Dior’s legacy is one of the utmost beauty and refinement. Now, UBS House of Craft has partnered with the atelier to connect the designs of all seven creative directors in a single show unlike ever before. Curated by iconic fashion stylist and editor Carine Roitfeld…
China’s largest electric vehicle (EV) maker BYD plans to raise up to HK$40.7 billion (US$5.05 billion) in a primary share placement to support its research and development efforts and overseas expansion, according to a term sheet seen by the Post. The company will issue 118 million shares at between HK$333.00 and HK$345.00 per share to…
The Kia EV3 on display during the Los Angeles Auto Show (Photo by Josh Lefkowitz/Getty Images) Getty Images Kia of Korea is raising its electric vehicle game in Europe, just in time to meet a full-frontal sales campaign on the market by China. Investment bank UBS last year declared that Chinese EVs had a near…
A slew of Chinese companies are eyeing initial public offerings (IPOs) in Hong Kong, riding on the stock market impetus provided by artificial intelligence (AI) start-up DeepSeek. AICT, a Beijing-based AI solutions provider, aims to raise about US$200 million from a Hong Kong IPO, according to sources familiar with the matter. AICT, whose products are…
New World Development (NWD), controlled by one of Hong Kong’s richest families, warned it would report a loss of up to HK$6.8 billion (US$871 million) in its interim results to be announced next week, as weak property markets in Hong Kong and mainland China continue to present a tough operating environment for the developer. The…
Hong Kong and its tech-savvy residents may have fully embraced digital banking, but companies continue to offer unique and fancy red envelopes, or lai see packets, to clients as an inexpensive way to promote their brand and business. HSBC and ICBC (Asia) have taken the opportunity presented by the Year of the Snake starting on…
China’s plan to draw long-term capital into its stock market, as a stabilising measure amid escalating tensions with the US, could drive net inflows from insurers, mutual funds and social-security funds to 1.7 trillion yuan (US$236.2 billion) this year, according to UBS. Insurance funds’ allocations to Chinese equities could rise steadily amid falling bond yields,…