The trading environment may have been volatile but luxury giant Richemont still managed to see net profit rising almost 40% in the financial year to the end of March, beating forecasts by a wide margin.
China's top e-commerce platform Alibaba Group Holding Ltd on Thursday posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country's market regulator.
Online sales accounted for nearly a fifth of total retail turnover last year as lockdowns to combat the spread of the coronavirus pandemic fuelled a boom in e-commerce, a United Nations study released on Monday showed.
Chinese e-commerce giant Alibaba Group Holding has frozen pay raises for senior executives in 2021, and is instead giving junior staff bigger pay rises, sources said, in an effort to retain its main workforce.
China is preparing a substantial fine for Tencent as part of its sweeping antitrust clampdown on internet giants, but it is likely to be less than the $2.75 billion penalty imposed on Alibaba earlier this month.
Ant Group is eyeing options for Jack Ma to divest his stake in the firm and give up control, as meetings with Chinese regulators signaled that the move could help draw a line under Beijing's scrutiny of its business.