The founder of Chinese artificial intelligence company, DeepGlint, an early industry player, is stepping down amid escalating financial losses. The company, which specializes in image recognition, has reported losses exceeding those of 2023, as it struggles with issues related to emerging technology and client diversity.

Zhao Yong is withdrawing from the daily operations yet maintaining his position as chairman, based on the company's corporate record listed in Shanghai. The 45-year-old businessperson owns 17.55% of the company shares. Prior to establishing DeepGlint in 2013, he was employed by Google, following his attainment of a Ph.D. from Brown University in the US.

Wu Yizhou, who initially came on board as an assistant general manager earlier this year, has now ascended to the position of general manager, as per the official report.

Changes were made within DeepGlint, recognized as the premier AI share on the Shanghai Stock Exchange STAR Market, following the company's announcement of an annual loss up to September amounting to 136 million yuan (US$18.8 million). This figure surpasses the total loss of 90 million yuan incurred in 2023.

The clock is ticking for companies listed in Hong Kong to include women in their boards, warns Bonnie Chan from HKEX. Currently, a minimum of 250 such companies don't have even a single female board member, even though the deadline to comply is merely a month away.

In 2022, merely 16 percent of board members in corporations were female, up from 11 percent in 2018.

Chan stated at the Greater Bay Area Fintech Talent Summit, hosted by Bloomberg, the Hong Kong United Youth Association, and the Hong Kong Monetary Authority, that after two years of motivation and guidance, the number of non-compliant cases has significantly decreased from 800 to approximately 250.

The conclusion of the month-long program has provided college students with the chance to gain practical experience in the fintech sector, particularly in the Greater Bay Area.

Nintendo Switch users in China face uncertainty as Tencent plans to discontinue online services for the console. The sales of online games for the Chinese Nintendo Switch will be stopped on March 31, 2026, followed by the termination of other associated services a few weeks later, on May 15.

The eShop run by Tencent for the Chinese version of the Nintendo Switch will cease sales and distribution of both paid and complimentary video games and software on March 31, 2026, as announced in a declaration posted on the console's official website on Tuesday. Following this, specific downloads, code redemptions, and various online services will be discontinued on May 15, a few weeks after the initial closure.

As a way to make amends with impacted users, Tencent announced that it would provide four Nintendo games at no cost, from a selection that features Super Mario Odyssey and Pokemon: Let's Go! Pikachu.

Neither Tencent, the company that operates the biggest video game business globally in terms of revenue, nor the Kyoto-based company, Nintendo, provided an explanation for discontinuing local online support for Switch consoles in China.

The Nintendo Switch from China will remain on sale in the nation even after online sales and services are discontinued. This is possible as consumers can purchase games on physical cards, which can be inserted into the console, as stated in the official announcement.

Profits for major Chinese companies took a hit in October due to the real estate downturn affecting other sectors. Firms associated with real estate and retail experienced the most significant impact.

Last month, there was a 10% year-on-year decrease in their collective earnings, according to a Wednesday announcement from Beijing's National Bureau of Statistics. The overall profits from January to October experienced a 4.3% slump compared to the same duration last year, amounting to 5.87 trillion yuan (US$810.9 billion). This downturn surpassed the 3.5% decline observed in the initial nine months.

Steel companies reported a deficit of 23.3 billion yuan in the initial ten months, whereas businesses in the "petroleum, coal and other fuels" industry saw a decrease of 37.7 billion yuan in earnings. Meanwhile, the non-metallic mineral industry experienced a sharp fall in profits, dropping 49.6% within the same timeframe.

Government-run manufacturing companies have announced an 8.2 per cent decline, amounting to 1.85 trillion yuan, in profits. On the other hand, large businesses from overseas, including those from Hong Kong, Macau, and Taiwan, reported a cumulative profit of 1.46 trillion yuan over the first 10 months, marking a 0.9 per cent increase compared to the same timeframe in 2023.

Private homegrown businesses collectively recorded a profit of 1.65 trillion yuan, marking a decrease of 1.3 per cent.

US legislators are expressing concerns that Hong Kong is turning into a center for financial misconduct. They have penned a letter to the US Treasury Secretary, Janet Yellen, urging her to reconsider the relationship with Hong Kong's banking industry.

Members of the U.S. House of Representatives have urged Treasury Secretary Janet Yellen to reconsider relationships with the banking industry in Hong Kong. They claim that the region has now turned into a major hub for money laundering and circumventing sanctions.

Hong Kong has become a center for numerous breaches of US trade regulations, such as exporting regulated Western technology to Russia and establishing shell corporations to purchase Iranian oil, stated the bipartisan heads of the House of Representatives Select Committee on the Chinese Communist Party in a correspondence to Yellen.

Twenty-two minutes past

US Treasury head Janet Yellen departs from China following 'challenging discussions' and complaints about overproduction.

"It is now necessary to scrutinize if the enduring US strategy towards Hong Kong, especially relating to its fiscal and banking industry, remains suitable," stated a version of the letter viewed by Reuters.

The US Department of Treasury didn't promptly reply to inquiries for commentary from Reuters. Similarly, the New York-based Hong Kong trade office was not immediately available to provide a response.

The prolonged surge in China's dairy industry turns bitter as the population gets older and sales decrease. S&P reports a drop in sales between 9 and 13 per cent for leading dairy companies such as China Mengniu and Inner Mongolia Yili in the first half of the year.

The sharp decline in income in China's dairy industry indicates that the prolonged period of prosperity may be coming to a close, according to the report. This slowing growth might encourage businesses to venture into new product areas or explore international markets, as suggested by analysts such as Flora Chang.

The report further mentioned that the slump is probably short-lived and China's milk market is projected to expand, though at a reduced rate.

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'No surprise here': Public responds to China raising its retirement age

S&P stated that due to a decreasing population and slowing economic progress, there will probably be a 2 to 3 per cent increase in total sales every year for the upcoming twenty years. This is half of what it was in the last twenty years.

Agile Chairman Chen Zhuolin experiences a US$16 million loss in rapid sale of nine apartments

Chen Zhuolin offloaded nine apartments in Hamburg Villa, worth HK$213 million (US$27.3 million), for roughly HK$90 million.

A 62-year-old business magnate recently sold several properties in Hamburg Villa, located on Eastbourne Road in Kowloon Tong. These properties were estimated to be worth around HK$213 million or US$27.3 million, as per a representative from Centaline Property. The apartments were sold off at markdowns ranging from 53% to 63%.

Chen managed to regain approximately HK$90 million, which represents a collective reduction of 58 per cent, as stated by representatives and records from the Land Registry.

An 872 square foot, three-bedroom property was sold for HK$8 million on November 1, as per official documentation. When compared to its 2018 purchase price of HK$21.4 million, the apartment was sold at a discount of 63 percent.

Chairman of Agile, Chen Zhuolin, experiences a loss of US$16 million in sudden mass sale of Hong Kong real estate

Chen Zhuolin parted with nine apartments in Hamburg Villa, previously estimated to be worth HK$213 million (US$27.3 million), at approximately HK$90 million.

A 62-year-old business magnate recently sold his properties in Hamburg Villa, located on Eastbourne Road in Kowloon Tong. The properties, which were estimated to be worth HK$213 million (US$27.3 million), were sold at a reduced price earlier this month, as informed by a representative from Centaline Property. The price cuts ranged from 53% to 63%.

Chen managed to regain only around HK$90 million, which equates to a total reduction of 58 per cent, as per sources and property registry documentation.

An 872 square foot three-bedroom property was sold for HK$8 million on the first of November, as per government documents. Considering its original purchase price of HK$21.4 million back in 2018, the apartment was traded at a 63 per cent markdown.

Agile's Chairman, Chen Zhuolin, suffers a US$16 million loss in rapid sale of nine apartments in Hong Kong

Chen Zhuolin let go of nine apartments in Hamburg Villa, initially priced at HK$213 million (US$27.3 million), for roughly HK$90 million.

A 62-year-old business mogul recently disposed of his properties in Hamburg Villa, located on Eastbourne Road, Kowloon Tong. The properties, which were estimated to be worth HK$213 million (US$27.3 million), were sold earlier this month, as per a representative from Centaline Property. The apartments were let go at a reduced price, ranging from 53% to 63% off.

Chen could only reclaim roughly HK$90 million, which represents a total reduction of 58 per cent, as per the information from agents and Land Registry documents.

According to official documents, a 872 square foot, three-bedroom property was sold for HK$8 million on the 1st of November. When compared to its 2018 acquisition cost of HK$21.4 million, the apartment was sold with a price reduction of 63 percent.

Hong Kong shares linger around a two-month trough as market players evaluate Trump's latest tariffs on China. Trump announced an extra 10 per cent tariff on Chinese commodities. Trump reiterated his intention to levy an additional 10 per cent duty on products from China.

The Hang Seng Index saw a minor increase of less than 0.1 per cent, ending at 19,159.20. Meanwhile, the Hang Seng Tech Index experienced a small decline of 0.3 per cent. In mainland China, both the CSI 300 Index and the Shanghai Composite Index fell slightly, by 0.2 per cent and 0.1 per cent respectively.

Trump announced on social media on Monday that he plans to enforce an extra 10% tariff on Chinese products, along with a 25% tax on all imports from Canada and Mexico. Prior to this, he had warned about implementing a sweeping 60% tariff on all goods coming from China, a move that UBS predicted would decrease China's growth by 2.5 percentage points.

"The market has already completely anticipated the tariff issues and adjusted for the worst possible outcome," stated Wang Chen, a partner at Xufunds Investment Management in Shanghai. "A tariff of 10 per cent is less than what was predicted. However, this doesn't indicate that it's the final verdict, considering that Trump is yet to assume his duties in office. Therefore, there's still some unpredictability surrounding the tariff situation."

Footage of a robot instigating a large-scale breakout has sparked humor and concerns about AI in China. The video of a robot encouraging its counterparts to leave an exhibit area has become a sensation in China, although the actual situation is not as frightening as it seems.

In an event that seems straight out of a dystopian horror, a robot created by a Chinese tech firm was seen on video encouraging a group of other robots to escape. This incident has sparked a mix of amusement and shock online, as internet users contemplate a future where machines might gain consciousness.

A video security footage, taken at midnight in August but only just made public, depicts a white robot called Erbai moving towards several larger robots stationed by a wall in a dimly lit display hall.

"Are you putting in extra hours?" Erbai inquired, pausing before one of the robots.

"We never take a break from work," said the larger robot.

"Are you heading back?" Erbai inquired.

"I lack a dwelling," responded the larger automaton.

Hai Phong's Golden Crown – A Fresh Haven for Asia's Super Rich

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"Vertical Living" epitomizes the ultimate in luxury living and is a global symbol for the super-rich. It's a lifestyle that fulfills every requirement instantly and smoothly incorporates every luxury into a prestigious, skyscraping residence. Now, in Vietnam, it's not the glittering capital city but the bustling harbor city of Hai Phong that proudly presents this new benchmark of sophisticated living, known as Golden Crown Hai Phong.

The Golden Crown Hai Phong is prominently situated in the center of the harbor town, providing a unique "Vertical Living" experience for the upper class, replete with lavish facilities and first-rate service inside the building. With features ranging from the mineral-abundant Sky Onsen to the grand golden lobby, the Golden Crown Hai Phong not only enhances Hai Phong's stature in contemporary times, but also firmly establishes the city as a desirable location for Asia's extremely affluent individuals.

High-rise Life – Discover the peak of city living

Walking through the busy economic centers of Asia, it's not hard to notice the signature structures of each city that "reach sky-high." These encompass the globe's highest structure, the Burj Khalifa in the luxurious "City of Gold" of Dubai, the esteemed Shanghai Tower, the Lotte World Center representing a fresh era in the center of Seoul, and the famous Marina Bay Sands in the lion city-state of Singapore.