Business magnate Richard Li is planning to offload the HKEJ publisher to PCCW in an asset reshuffle with a price tag of US$9 million. PCCW will purchase the unprofitable publishing company at a rate of 0.69 times its revenue, which is slightly higher than the industry average of 0.64 times.

Business magnate Richard Li Tzar-kai from Hong Kong is once more reorganizing his holdings, currently through liquidating his private shares in the company that publishes the Hong Kong Economic Journal (HKEJ). The shares are being sold to the telecommunication firm PCCW, with a transaction value of HK$70 million (US$9 million).

The Alibaba Group Holding-owned South China Morning Post is in competition with HKEJ.

The cost was determined by multiplying the revenue by 0.69, which was calculated using the average rate of 0.64 from three anonymous industry counterparts listed in Hong Kong, as shown in the document. This estimation places HKEJ's 2023 income around HK$100 million, based on its buying price and earnings multiplier.

Analysis | The significance of DeepSeek's triumph for Nvidia and the expensive GPU-based AI expansion

Views on Nvidia and the necessity of its high-tech chips for state-of-the-art AI are changing due to DeepSeek's achievements, but is this change justified?

Nvidia saw a recovery in early Tuesday trading, but analysts pointed out a change in how the firm's contribution to expensive AI development through graphics processing units (GPU) is viewed. This could potentially endanger one of the globe's most highly valued tech giants.

In what has DeepSeek accomplished?

DeepSeek asserts that it has successfully pre-trained its V3 model utilizing only 2,048 Nvidia H800 GPUs over the course of two months. Each of these chips has an operating cost of approximately US$2 per hour. The full expenditure for training the V3 model came to US$5.5 million, corresponding to 2.8 million GPU hours. This is considerably less than the training costs of competing models.

In the meantime, its open-source logic model, R1, which was launched earlier this month, has shown abilities that are on par with those of more sophisticated models from OpenAI, Anthropic, and Google. However, it does this at a substantially reduced training expense.

Is it confirmed that Nvidia chips are not essential due to DeepSeek's actions?

As of now, the answer is no. In a dialogue with Chinese news source Latepost in 2023, the creator of DeepSeek, Liang Wenfeng, stated that the firm had slowly amassed over 10,000 Nvidia GPUs. This accumulation ranks them as one of the leading holders of computational assets among AI-based Chinese start-ups.

Understanding | The unexpected breakthrough of tech start-up DeepSeek in the US-China AI rivalry

Under the leadership of the far-sighted founder Liang Wenfeng and his team of committed young scientists, DeepSeek is charting a unique path in the realm of AI.

This is the information we have up to this point regarding the business and the apparent factors contributing to its prosperity:

A forward-thinking chief

Snake Year: High gold prices expected to curb jewelry purchases

The cost of the valuable commodity, which saw a 35 per cent increase during the Dragon Year, is predicted to keep up its high trend.

The sales of gold jewelry are predicted to keep falling in the Year of the Snake, as sky-high costs of the valuable metal have dampened consumer desire, say industry insiders.

The cost of precious metals in the Year of the Dragon, that concluded this past Tuesday, surged by 35% to HK$25,600 per tael (equivalent to US$3,282 for 37.9 grams) on the final trading day, which was Monday.

Global gold prices have seen a significant increase since the previous year. On Monday, the price of spot gold reached US$2,772 per ounce, barely falling short of its record peak of US$2,790.07 in October.

"During the Year of the Dragon, the value of gold continued to hit unprecedented levels due to political conflicts and a series of interest rate reductions that started in September," stated Robert Lee Wai-wang, a legislator and head of Hong Kong's financial company, Grand Finance Group.

The Dragon Year witnessed one of the most significant surges in gold prices in recent history, following a 6 per cent increase in the prior Rabbit Year and a 7 per cent rise in the Tiger Year before it, as per the information from the Hong Kong Gold Exchange (HKGX).

Snake Year: Digital Age sees Hong Kong companies leveraging lai see envelopes for promotion

HSBC and ICBC (Asia) are advertising their achievements through lai see envelopes, in the meantime, the recently renamed Hong Kong Gold Exchange has distributed 60,000 red packets.

Despite the complete adoption of digital banking by Hong Kong and its technologically adept inhabitants, businesses persist in providing distinctive and luxurious red envelopes, known as lai see packets, to customers. This is seen as a cost-effective method of marketing their company and operations.

Starting this Wednesday, which marks the beginning of the Year of the Snake, HSBC and ICBC (Asia) are highlighting significant achievements. HSBC, the biggest bank in Hong Kong, is marking its 160th year, whereas ICBC is celebrating a quarter-century in the city. Concurrently, the Hong Kong Gold Exchange is leveraging the tradition of lai see to publicize its new brand identity, after being recognized as the Chinese Gold & Silver Exchange Society for the past 114 years.

HSBC has launched a unique limited edition collection of lai see envelopes, showcasing the bank's emblematic lions and representations of its Hong Kong base throughout various periods.

"Even with the introduction of e-lai see, we've noticed a steady interest in lai see envelopes, which usually get depleted rapidly," stated Cheuk Shum, the marketing chief for wealth and personal banking at HSBC Hong Kong. He also pointed out that the bank provides e-lai see services via its PayMe and smartphone applications.

Shum mentioned that the tradition of giving lai see envelopes plays a significant role as it provides an opportunity for individuals to personally connect with their loved ones and extend their good wishes.

Snake Year: Hong Kong banks compete to attract mainland tourists with everything from fireworks to money

Anticipating 1.43 million visitors from the mainland in the 'golden week', the city's financial institutions are getting ready with a host of incentives.

With the commencement of the Year of the Snake, authorities predict the city will greet roughly 1.43 million individuals from the mainland throughout the "golden week" vacation, which runs from January 28 to February 4.

In a bid to attract new customers in this golden period, all the significant banks in Hong Kong including HSBC, Standard Chartered, and Bank of China (Hong Kong), as well as digital banks like ZA Bank, Mox Bank and WeLab Bank, have devised exclusive promotions.

"The Lunar New Year is a significant event expected to attract numerous guests to Hong Kong this year," stated Luanne Lim, the Chief Executive Officer of HSBC Hong Kong. "HSBC is thrilled to contribute to the festivities by organizing an impressive fireworks show for both locals and travelers."

The Spring Gala show was lit up by Unitree humanoid robots, supported by Alibaba technology, who turned out to be the stars of the dance floor.

During the Lunar New Year's eve program, these 16 H1 robots teamed up with a group of human dancers to deliver an unprecedented performance of the Chinese folk dance, Yangge.

One minute and one

Robots showcasing dance moves were a highlight at China's Spring Festival Gala show.

Unitree announced on Wednesday that the show represented the globe's inaugural fully automated, AI-controlled large-scale humanoid robot performance, which perfectly blends technology with traditional culture.

Alibaba introduces a new AI model, claiming it surpasses DeepSeek, China's most popular start-up. Alibaba boasts that its latest Qwen 2.5-Max AI model has 'significantly surpassed' DeepSeek-V3 in specific benchmark examinations.

Parameter refers to the variables used in machine learning within an AI system during its training phase, aiding in determining how data triggers produce the expected results. Open source refers to the public availability of a software's source code, enabling external developers to alter, distribute its structure, repair malfunctioning connections, or enhance its functionality.

Twenty past one

Chinese company Alibaba has launched a new AI model, which reportedly surpasses its rivals Deepseek and OpenAI's GPT-4o in performance.

Tesla pledges to produce more affordable cars in the first half of the year and anticipates self-driving vehicles to hit the roads shortly. The company experienced a decrease in delivery numbers last year, increasing the demand for them to introduce more budget-friendly models.

The company manufacturing electric vehicles reported a decline in distributions last year, increasing the need for it to launch more affordable models. Additionally, the self-driving cars and software, which CEO Elon Musk has claimed to be crucial for its financial stability, need to be introduced.

The firm's stocks increased by 5% following their announcement to reduce expenses and focus on developing new automobiles. During a call with analysts and investors, Musk revealed that the company plans to begin trials of a completely self-driving paid car service in Austin, Texas, in the coming months.

"He stated that by June, Teslas will be roaming freely in Austin, with no one inside them."

The autonomous driving system of Tesla, referred to as full self-driving (FSD), is set to undergo unmonitored trials in various states, including California, within the year, as stated by the company. Concurrently, Tesla is striving to manufacture more affordable cars, announcing that the expense associated with goods sold reached an all-time low in the last quarter, falling below $35,000, primarily due to a reduction in the cost of raw materials.

Tesla is known for often missing its delivery deadlines, so the firm's renewed promise to supply the new models in the first six months of the year is a good sign, according to Thomas Martin, a senior portfolio manager at Globalt Investments, a shareholder in Tesla. He was also heartened by the decrease in Tesla's expenses.

"He mentioned that they have successfully managed to reduce costs. Their efforts in the last quarter certainly helped to mitigate the impact." Tesla decided not to proceed with their plan to develop a more affordable vehicle model for the general public, frequently referred to as the Model 2, as Reuters disclosed in April of the previous year.

Hong Kong maintains its benchmark interest rate at 4.75%, pausing its monetary policy following three reductions. HSBC along with other prominent banks will declare their decisions regarding interest rates on Monday, which marks the beginning of the work week of the Lunar New Year.

The Hong Kong Monetary Authority (HKMA) last reduced the city's benchmark interest rate by 0.25% to 4.75% in December, marking the lowest it's been in two years.

The decision of the Federal Reserve came as no surprise, with 97% of traders predicting that there would be no alteration in the interest rate, according to information gathered by the CME Group from Federal fund futures contracts on Tuesday.

"Our policy approach is now considerably less stringent than before, and given the robust state of the economy, there's no urgency to alter our policy position," stated Jerome Powell, the Fed Chairman, following the FOMC meeting.

Travelers during China's Lunar New Year are attempting to trick algorithms for less expensive tickets. Apprehensions regarding the misuse of algorithms, especially in terms of unjust pricing aimed at various demographics, have encouraged people to employ innovative strategies.

The strategy? Deceive the algorithms, says Lan.

Prior to making her flight reservation, Lan expressed her frustration about high-priced holiday plane tickets through a series of social media updates. "I won't be flying because the fares are too high," she stated, specifically targeting some of China's most popular travel reservation sites. "Watch out, Qunar, Trip.com, Tongcheng, Fliggy: I'll remove all your apps if you continue to hike up the prices," she warned.

Five days later, Lan noticed that the price of the ticket she wanted had decreased by more than 50%, dropping from 1,200 yuan.

Lan is part of an increasing population of Chinese internet users seeking methods to combat what they refer to as discrimination facilitated by Big Data. They suspect that online platforms are charging higher prices to regular customers and frequent users, and at times depriving them of discounts.

A tough task: Meeting the demands of China's massive population craving for meat

The dietary preferences of China's 1.4 billion population have shifted towards a Western-style inclination for high-protein foods like pork and beef, leading to significant alterations in the worldwide economy.

For years, China has been grappling with the difficult task of providing food for almost 20% of the global population, despite having less than 10% of the world's farmable land.

The challenge has escalated in the recent years, as Chinese consumers are progressively shifting towards a meat-centric, Western-influenced diet that demands significantly more resources to maintain.

In 2021, the average protein consumption per day for individuals in China was 124.61 grams (4.4 ounces), slightly more than the 124.33 grams (4.39 ounces) consumed by people in the United States, as per the most recent data from UNFAO.

Individuals in China currently enjoy a diet that is higher in protein compared to their counterparts in India, with the latter's average resident eating 70.52 grams (2.49 ounces) daily in 2021. Moreover, their protein intake considerably surpasses that of their neighboring countries, Japan and South Korea.

The shift in the dietary habits of individuals in China, mainly characterized by an increase in meat intake, was highlighted in a report by UNFAO. This trend is having a significant impact worldwide.