Mixue from China is striving to raise US$500 million through an Initial Public Offering (IPO) in Hong Kong, following the share sales of Guming. According to reports, the leading bubble tea manufacturer on the mainland intends to initiate its IPO later this month and aims to be listed in the beginning of March.

Mixue Group, a Chinese company that produces bubble tea, intends to generate roughly US$500 million through their initial public offering (IPO) in Hong Kong. This follows a successful enlarged share sale in the same city by their competitor, Guming Holdings, which raised US$232 million.

Mixue, the biggest producer of fresh beverages in China, is set to start the book-building process by the end of the month and plans to be listed on the Hong Kong stock exchange in early March, as reported by Reuters on Tuesday, based on information from insiders.

Mixue, boasting over 40,000 outlets in China and internationally, was given the green light by the China Securities Regulatory Commission on January 7. This effectively ended a halt on the company's plan to go public.

Mixue and Guming had attempted to go public in Hong Kong in 2024 but their applications expired after half a year due to a lack of regulatory approval. The Chinese authorities had reservations about the companies' future after the stocks of their counterpart, Sichuan Baicha Baidao, dropped by 27% upon its initial launch in April last year, following a $330 million public offering.

Mixue intends to utilize the funds from the IPO to increase its production capabilities and improve its brand and marketing efforts, as stated in its stock exchange submission.

In the first three quarters of the previous year, the firm's earnings skyrocketed by 45.2 per cent annually, reaching 3.5 billion yuan, equivalent to US$478.96 million.

Goldman Sachs suggests that China's real estate sector requires further assistance. Following a report indicating that officials are getting ready to fill China Vanke's financial void, there's been a significant increase in developer stocks, reaching up to 20 per cent.

Goldman Sachs states that China's policy relaxations, initiated in September, have been more successful than previous attempts at stabilizing their faltering real estate market. However, due to "structural differences", further aid measures are necessary for long-term improvement.

The current policy relaxation seems to be more successful in increasing property sales and maintaining stable prices, compared to previous instances, according to a report by the US investment bank published on Tuesday. However, the impact on real estate investment and other building-related activities remains relatively minimal.

Over the past three years and more, the property market has seen a downturn, with used home prices falling about 25% from their highest point. This price adjustment has been a significant contributor to the increased efficiency of recent policy actions, according to analysts from Goldman.

"If the information is correct, it reinforces our belief that Vanke's short-term financial difficulties should be largely resolved," stated Raymond Cheng, the managing director at CGS International. "At the same time, this development could indicate that the much-anticipated strategy of purchasing unsold properties from struggling developers using special bonds might be initiated to address the industry's financial issues."

The industry's turmoil started in late 2020 when the officials began an initiative to reduce the debt of developers and burst the housing bubble. There has been an approximate 50 per cent decrease in total new residential sales from their highest point in 2021. To counter this, Beijing in September implemented its most assertive stimulus package since the Covid-19 outbreak, which included lowering down payment ratios, cutting mortgage rates, and introducing a scheme that allows local governments to utilize special bonds to assimilate land and housing stock.

Since September, the surge of policy implementations has improved the effectiveness of housing relief measures on a small scale. This change has also stimulated previously hesitant buyers' demand, according to Goldman Sachs.

The collaboration between Alibaba and Apple on artificial intelligence has resulted in the greatest rise in Hong Kong's stocks in almost two years. This partnership, utilizing Alibaba's Qwen AI model, has the potential to increase iPhone sales in China and reinforce Alibaba's status as a top contender in the AI industry.

The shares increased by 8.5% to HK$113.80 on Wednesday, marking its most significant single-day gain since March 29, 2023, when it experienced a 12% surge. Its American depositary receipts grew by 1.3% to US$112.78 in New York the previous night.

The increase followed a Tuesday report from the Post stating that Alibaba had partnered with Apple to assist the American firm in implementing AI technologies in its smartphones in China via the Qwen AI model, according to insiders. The news was initially broken by the US tech industry publication, The Information.

Neither Alibaba, the owner of the Post, nor Apple responded to inquiries for their input. The specifics of the agreement are still unclear, but it could potentially aid Apple in competing with Chinese smartphone competitors like Huawei Technologies and Oppo in mainland China, where iPhone users currently do not have access to Apple Intelligence AI.

Twenty past one

Alibaba from China has launched a new AI model, reportedly surpassing competitors Deepseek and OpenAI's GPT-4o in performance.

A Hong Kong-based fund puts money into medical advancements for hospitals in mainland China. The fund, run by the government, has invested in the New Frontier Group, a company established by Antony Leung, a former financial secretary.

The Hong Kong administration's investment fund, valued at HK$62 billion (US$8 billion), is partnering with a healthcare organization, which was co-established by the city's ex-finance minister, to implement new technologies created by start-ups in clinical applications throughout the Greater Bay Area.

"Our aim is to establish a comprehensive system that spans from research laboratories to medical clinics," stated Carl Wu, the co-founder and CEO of New Frontier.

In this collaboration, New Frontier will offer contract-based research services. This includes identifying clinical trial situations for product confirmation and aiding in licensing and registration processes.

Liang Wenfeng, the founder of DeepSeek, bypasses the AI conference in Paris as China asserts its international presence. Chinese scholars are praising the country's input to worldwide AI progress, meanwhile its top emerging company is steering clear of the spotlight.

"Given that DeepSeek's AI models are freely available to the public, it will allow the worldwide AI community to collectively progress the technology," stated Yao.

In Memoriam | Rutherford Chang, renowned Chinese-American artist and heir of Taiwan's semiconductor company, passes away at 45

Chang, a descendant of the family behind Taiwan's Advanced Semiconductor Engineering who passed away aged 45, was remembered as 'affectionate' and 'indefinitely inquisitive'.

The global art world is expressing its admiration for Rutherford Chang, a renowned American-Chinese artist. Chang gained fame for his unique video collage showcasing the death scenes from Andy Lau Tak-wah's films. He also drew attention for displaying his extensive collection of The Beatles' White Album copies as a conceptual art piece. Moreover, he is known for his innovative work of turning 10,000 US copper pennies into one solid cube.

His unique artistic pursuit was even more peculiar considering he was the offspring of Taiwanese tycoon Jason Chang, and seen as the expected successor to a vast empire of semiconductors and real estate.

Chang, who hails from the US, pursued his psychology degree at Wesleyan University, a private institution in Connecticut known for its liberal arts programs. During his university years, he lived with Aki Sasamoto, who currently works as an artist in New York and is originally from Japan.

"He would meticulously tag all his possessions with embossing tape. Anyone who knew him recognized his unique style of doing things. None of which were tasks carried out for school, which, in my eyes, was the ultimate evidence that a creative lifestyle was innately part of his being."

Wall Street and UBS anticipate growth potential for Chinese AI shares, indicating that the current rally is not even halfway through. Both the MSCI China Index and the Hang Seng Index have hit their lowest points, and there's still an opportunity for international investors who only hold long positions to make their moves, according to Morgan Stanley.

American financial institutions are once again showing enthusiasm for Chinese tech shares, following the lead of investors who have been heavily investing in them for the past month. This surge in interest was sparked by the start-up DeepSeek, whose affordable AI chatbot initiated a bull-market surge.

Morgan Stanley referred to the DeepSeek innovation as the primary driving force behind the stock market surge. Goldman Sachs stated that China presents the most promising opportunity for soft-tech in Asia, considering its potential for earnings and market size. JPMorgan Chase suggested that the next surge in value will be driven by AI applications instead of infrastructure, a change that could particularly benefit China.

International investors are beginning to reconsider investing in China's technology and AI sector, following a prolonged phase of minimal focus, according to a report by Morgan Stanley strategists Laura Wang and Chloe Liu on Tuesday. They predict that this trend will continue in the short-term due to the cautious approach of global investors.

Five past ten

DeepSeek, a trailblazer in Chinese AI, has secured the leading position in the US App Store, ousting ChatGPT from its throne.

The MSCI China Index, which monitors Chinese stocks locally and internationally, has seen a 15% increase this year. In the meantime, the MSCI China IT Index has leaped 24%. Since DeepSeek introduced its R1 large language model, the Hang Seng Tech Index has surged over 20% in Hong Kong, leading the country's largest tech shares into a technical bull market.

Six fifty-seven

Upsurge or Collapse: Is China's Stock Market Frenzy Sustainable?

Funds from mainland China are also positioning themselves for substantial gains, having invested HK$138 billion (US$17.7 billion) in stocks listed in Hong Kong from the beginning of the year up to February 11, as per the data from the stock exchange. This comes on top of a record-breaking investment of HK$807.9 billion made last year.

SoftBank of Japan records a loss before making a substantial investment in AI technology with the Stargate Project. The firm reported a loss of US$2.4 billion in the last quarter of the year, while its founder, Masayoshi Son, is working to secure US$500 billion funding for Stargate.

Son, the Japanese billionaire and CEO of SoftBank, is considering project financing to generate funds. According to Bloomberg News, one option being examined is to secure 10 per cent of the total amount via equity, while senior loans may provide up to 70 per cent.

OpenAI's CEO Sam Altman expresses interest in collaborating with China, as DeepSeek causes a stir in the tech industry. Altman's shift in attitude towards China from OpenAI's previous rigid position illustrates how the Hangzhou-based start-up, DeepSeek, has disrupted the worldwide AI sector.

"Is it crucial that we put in maximum effort to collaborate with China? Definitely, yes. In my opinion, it's truly significant," Altman commented in the video, without detailing the specific sectors OpenAI and the globe's second biggest economy would focus on.

Altman confessed his uncertainty about the US government's stance on OpenAI partnering with China, but emphasized his belief in the significance of pursuing such collaboration.

China is positioning itself to rival Nvidia's CUDA ecosystem through DeepSeek. The country's chipmakers are quickly embracing DeepSeek's widely used AI models, which is aiding China's campaign to reduce dependency on US technology.

Chinese chip manufacturers have long admired Nvidia, a leading American semiconductor company. Nvidia's dominance in the industry is undisputed, thanks to its advanced hardware and unique CUDA toolkit. This toolkit is widely used by engineers to create applications on the company's graphics processing units (GPUs).

After the introduction of the V3 and R1 models by DeepSeek, local chip manufacturers are making efforts to liberate themselves from Nvidia's sphere of influence.

The potential impact of DeepSeek's AI model advancements on Nvidia and other American tech giants has been a hot topic of discussion in the technology sector in recent weeks.

The exact number of chips utilized by the company based in Hangzhou for the training of its V3 and R1 models continues to be a point of discussion. Nonetheless, there are conjectures suggesting that chips supplied by Huawei Technologies contributed to DeepSeek's effective creation of robust, inexpensive AI models.

Activist investor from Hong Kong to close Webb-site data platform while fighting cancer

The loss of David Webb's informative platform will be felt by investors, according to brokerage industry expert Tom Chan

The absence of David Webb's informative site will be keenly felt by investors, says Tom Chan, a seasoned professional in the brokerage industry.

David Webb, a corporate governance advocate, has announced the closure of his information services website, Webb-site.com, after nearly thirty years of operation. He stated that his decision follows a prolonged fight with prostate cancer, and he now only has a few months to live.

The UK resident plans to gradually shut down his free and non-profit service from the forthcoming month, according to the 59-year-old ex-investment banker's Wednesday post. He further stated that once the New York server is deactivated, the Webb-site, including all of its editorial content, will cease to exist.

"Upon revealing my advanced-stage prostate cancer diagnosis in June 2020, I didn't anticipate surviving this long," Webb, who has been living in Hong Kong since 1991, stated.

"Nonetheless, having used up four types of treatment and turned to trial treatments only accessible abroad, I've come to the stage where results are now calculated in months instead of years."

Webb didn't promptly reply to a comment request.

Webb revealed that he invested HK$10 million (US$1.3 million) from his personal finances to back the enterprise he established in 1998. Prior to this, he had experience working as a stock market banker at the Barclays group in London and Hong Kong, and he also served as a consultant to Wheelock.

China aspires to construct a globally competitive large aircraft. Is it possible without Western involvement? China is striving to create large aircrafts that can rival Airbus and Boeing, but the success of their plans might depend on Western regulators and suppliers' collaboration.

China has always harbored aspirations to transform the worldwide aviation sector into an "ABC" market by disrupting the Airbus and Boeing duopoly with the introduction of top-tier Chinese jets.

Currently, the Chinese airplane maker is intensifying efforts to grow its fleet, with plans to incorporate wide-body models. This includes their own creation designed to rival Boeing's legendary 747 jumbo jet.

Introducing the C929 and C939.

Comac seems highly concentrated on manufacturing its own aircrafts capable of performing long-distance flights, an effort influenced not only by market needs but also by political and strategic elements.

"Very few engineering products are as noticeable and identifiable as large aircraft," stated David Yu, a professor at New York University Shanghai with a specialty in aviation financing.

Similar to the United States and Europe, China also has numerous motivations to cultivate and utilize its own large aircraft that mirror its stature and aspirations.