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Tag: China

  • Dongfeng and Huawei Brand Epicland Weighs Battery Swapping for Second EV

    Dongfeng and Huawei Brand Epicland Weighs Battery Swapping for Second EV

    Epicland, the premium electric vehicle marque jointly developed by Dongfeng Motor and Huawei, has begun preliminary research into adding battery-swap capability to its upcoming second production model.

    The study marks the first time a brand inside Huawei’s automotive ecosystem has explored swappable battery architecture to lower retail costs and accelerate vehicle charging times.

    No final decision has been taken on whether Epicland will build its own proprietary stations or plug into a third-party public network. The brand opened pre-sales for its debut vehicle, the six-seat X9 extended-range SUV, on August 18 with prices starting from 299,800 yuan ($44,210) to 379,800 yuan. Deliveries for that model begin in the third quarter of 2026, with three additional vehicle lines scheduled to follow in 2027.

    Shared Platforms and Battery Networks

    Separating the battery pack from the vehicle purchase price allows carmakers to cut retail sticker prices while matching the refuelling speed of petrol cars. For new brands entering an aggressive price war across China, joining shared networks avoids the heavy capital expenditure of building proprietary charging points across hundreds of cities.

    Dongfeng already maintains joint battery-swap operations with CATL in central Chinese cities including Wuhan and Xiangyang. CATL operated 2,000 Choco battery-swap stations across 180 cities as of June 30, with plans to surpass 3,000 locations by the end of 2026 through partnerships with Changan Automobile, Chery, GAC Group, and Seres.

    Differentiation Beyond Huawei Software

    Hardware differentiation has become urgent for automakers partnering with Huawei. As the tech giant rolls out its Qiankun autonomous driving system and HarmonySpace cockpits across rival brands including Luxeed, Stelato, and Aito, software alone no longer guarantees a distinct competitive edge on showroom floors.

    Other emerging players are making similar calculations. Saidou Technology, backed by Seres, is in discussions to connect its upcoming Aiva brand to CATL’s network ahead of pre-orders for its ME7 model in early 2027. Epicland faces a clear trade-off: adapting its chassis to third-party standard packs requires engineering compromises, while constructing dedicated stations demands massive sales volumes to achieve operational break-even.

    Epicland will confirm the powertrain specifications and commercial launch schedule for its second model ahead of its wider three-vehicle rollout in 2027.

  • Asia-Pacific Takes 42.5 per Cent of Global E-Commerce Market Heading to $19.8 Trillion

    Asia-Pacific Takes 42.5 per Cent of Global E-Commerce Market Heading to $19.8 Trillion

    Asia-Pacific captured 42.5 per cent of the global e-commerce market in 2025, leading an industry projected to reach $19.83 trillion by 2035. The worldwide sector stood at $7.65 trillion in 2025 and is tracking toward $8.42 trillion in 2026, driven by mobile internet adoption and direct-to-consumer digital channels.

    China, India, and Southeast Asia anchored the regional share, outpacing North America at 24.3 per cent and Europe at 20.1 per cent. Electronics and media formed the largest single product category globally, generating $1.98 trillion in 2025, while fashion and apparel climbed at an 11.3 per cent annual rate.

    Mobile Checkouts and Direct Sales

    Consumer shift to mobile devices altered checkout dynamics across major platforms. Mobile internet access passed 5.5 billion users in 2025, pushing retailers to redesign storefronts around single-screen purchase funnels. Data from platform operator Shopify showed 73 per cent of transactions took place on mobile devices, helping reduce cart abandonment below 55 per cent.

    Brand-owned direct-to-consumer platforms generated $1.42 trillion in 2025, accounting for 18.5 per cent of total e-commerce revenue. Retailers spent more than $22 billion on artificial intelligence recommendation engines during 2024 to lift conversion rates by 15 to 25 per cent. Marketplace platforms retained the largest transaction volume, with projections pointing to 10.6 per cent annual expansion through 2035.

    For retailers across Asia, these numbers reflect a structural transition from basic marketplace storefronts to proprietary apps and conversational commerce tools. Brands that relied entirely on third-party aggregators five years ago are redirecting capital into unified backends that handle social shopping, mobile web, and offline inventories together.

    Payment Infrastructure and Regulatory Hurdles

    Instant payment networks accelerated transaction volumes throughout emerging markets. India’s Unified Payments Interface processed more than 14 billion transactions monthly by late 2024, while digital wallets accounted for over half of all online payments globally.

    Operating costs and compliance mandates continue to squeeze vendor margins. Last-mile logistics represented 41 per cent of total supply chain expenses, amplified by urban fuel and labor costs. Tightening data protection rules, including India’s Digital Personal Data Protection Act, added compliance expenses equivalent to two to five per cent of digital marketing budgets.

    Cross-border sellers now face tighter platform vetting as international agencies track counterfeit goods, which totaled $509 billion in worldwide trade. The next operational test comes as national customs authorities implement revised digital tax rules across regional trade corridors through 2027.

  • Toyota to Build Next Lexus EV in China Ahead of Japan Launch

    Toyota to Build Next Lexus EV in China Ahead of Japan Launch

    Toyota Motor plans to manufacture its next-generation Lexus electric vehicle in China ahead of Japan, deploying gigacasting technology in Shanghai to cut production costs.

    The decision breaks with the ¥36.9 trillion automaker’s established practice of debuting new Lexus platforms at domestic Japanese assembly plants before rolling them out overseas.

    Gigacasting and Supply Chain Shifts

    Toyota will base the new manufacturing operations in Shanghai to shorten production lead times and align output with local buyers. Adopting gigacasting techniques allows the factory to cast large single-piece structural components, reducing assembly steps and altering Toyota’s global cost structure for future battery-electric models.

    Targeting China first concentrates advanced manufacturing where volume demand for premium electric cars is concentrated. The rollout forms part of Toyota’s plan to use internal battery investments and tighter plant efficiency to protect profit margins as its electrified vehicle ratio rises.

    Price Pressures in Shanghai

    Lexus contends with severe retail rivalry across China from Tesla, BMW and local electric brands that continue to push aggressive discounting across the luxury segment. Building inside China removes import overheads and shortens delivery cycles, helping the brand defend showroom pricing and aftersales service value.

    The next operational milestone will be the integration of the gigacasting lines at the Shanghai facility as Toyota works to bring the platform into commercial production without straining operating cash flows.

  • Laopu Gold Targets Global Expansion as Sales Growth Moderates

    Laopu Gold Targets Global Expansion as Sales Growth Moderates

    Laopu Gold is pushing ahead with overseas expansion plans to secure new sales channels as top-line retail growth cools across its core Chinese market.

    The Beijing-based luxury heritage gold brand reported a moderating pace of domestic expansion while confirming plans to establish footprints in key international shopping hubs.

    Slowing Domestic Demand

    Consumer appetite for pure gold jewellery in China faced pressure after a prolonged run of sharp price gains. Shoppers who drove previous surges in heritage gold sales have pulled back on discretionary luxury purchases, forcing premium jewellers to adjust their operational expectations.

    Laopu Gold built its brand equity on handcrafted traditional gold ornaments sold at significant premiums through boutique locations. As domestic store productivity normalises, management is looking beyond mainland shopping centres to sustain revenue momentum.

    Pushing Into Global Retail

    International luxury corridors represent the next commercial frontier for the brand. Establishing outposts in regional financial hubs and tourist destinations allows the jeweller to capture affluent Chinese travellers as well as international high-net-worth consumers.

    Rival jewellers across Hong Kong and mainland China have made similar shifts into Southeast Asia and the Middle East over the past two years. For Laopu Gold, competing on international high streets requires convincing foreign consumers to pay luxury design markups on traditional Chinese craftsmanship rather than treating items purely as gold weight assets.

    Execution details on specific international leases and overseas opening schedules will determine whether foreign revenue can counterbalance cooling domestic retail volumes.

  • China and India Lead Global Quick Commerce with Adoption Past 80 per Cent

    China and India Lead Global Quick Commerce with Adoption Past 80 per Cent

    Quick commerce adoption in China reached 83 per cent and 82 per cent in India, creating a multi-trillion-yuan grocery delivery market that outpaces Western peers. The channel is on track to surpass 1 trillion yuan in China this year, backed by a logistics network that handled 199 billion parcels in 2025.

    Data compiled by consumer intelligence firm NIQ shows ultra-fast delivery has become standard consumer behavior across major Asian economies. The global average adoption rate sits at 48 per cent, dragged down by Western markets where 34 per cent of European shoppers and only 3 per cent of North American consumers use quick commerce platforms.

    India Builds Dark Store Networks

    India represents the fastest-accelerating market for ultra-fast delivery. The sector grew 68 per cent year over year in the fourth quarter of 2025, powered by operators expanding an urban dark-store network projected to exceed 5,000 facilities. Individual micro-fulfillment hubs in the country now process up to 1,800 transactions per day.

    Shoppers in India are also changing how they use the apps. Instead of relying on 10-minute delivery purely for emergency top-ups and late-night snacks, consumers are migrating toward full grocery baskets, driving higher repeat purchase frequencies and larger ticket sizes.

    The structural divergence between Asia and the West comes down to city density, cheap local couriers, and deeply entrenched super-app ecosystems. In China and India, retail platforms solved local delivery economics early by pairing dark stores with dense residential zoning, whereas Western operators struggled with high labor overheads and sprawling suburban delivery routes that broke unit economics after 2022.

    Profitability Lags Channel Expansion

    Surging transaction volumes do not guarantee profitable sales for consumer brands selling through rapid channels. While brand manufacturers allocate an average of 27.4 per cent of their marketing spend to social commerce and related rapid channels, 58 per cent still report a return on investment of less than $1 per dollar spent.

    Growth is accelerating, but sustainable value will come from understanding which consumer missions truly benefit from immediacy.

    Suppliers are now overhauling their inventory allocations to defend margins. The key metric to watch across Asian platforms this year is whether operators can push average order values high enough to offset rising fulfillment costs as dark store networks reach saturation in tier-one cities.

  • Bogg Moves Production to Vietnam Following 10 Million Dollar Tariff Hit

    Bogg Moves Production to Vietnam Following 10 Million Dollar Tariff Hit

    American bag maker Bogg has begun shifting its manufacturing footprint to Vietnam after absorbing a $10 million tariff penalty on its China-based production lines.

    The move lands as the foam-tote brand surpassed $100 million in annual revenue and crossed $400 million in cumulative lifetime sales. Founder and chief executive Kim Vaccarella built the business around washable EVA foam bags, relying on Chinese factories for more than a decade before import duties forced a supply-chain overhaul.

    Supply chain retooling and raw material costs

    Concentrating production in China left the company exposed when cross-border tariffs surged over the past year. Vaccarella said Bogg started shifting manufacturing orders into Vietnam to reduce that tariff drag, while managing swings in the price of raw EVA polymer across global markets.

    The supply revamp coincided with a broader retail push. Bogg added six retail partners and entered roughly 200 new storefronts across the United States, placing inventory into fashion chains including Anthropologie and Urban Outfitters as well as specialty sellers like The Container Store. Wholesale accounts now generate about 40 per cent of total sales, with direct-to-consumer digital channels and Amazon supplying the balance.

    The factory shift across Southeast Asia

    Bogg is following a path well worn by international footwear and apparel brands that have spent the past five years building secondary production hubs in Southeast Asia. For mid-sized consumer labels, diversifying out of coastal China protects operating margins, but it also creates fresh logistical friction as Vietnamese factories face tighter capacity and fluctuating feedstock costs.

    Vaccarella turned down a nine-figure buyout offer to keep Bogg independent, and the company is now preparing its first proprietary retail stores alongside an eventual international expansion.

  • 52TOYS Opens Hong Kong Airport Store to Expand Global Reach

    52TOYS Opens Hong Kong Airport Store to Expand Global Reach

    Chinese collectible toy maker 52TOYS has opened a retail store inside Hong Kong International Airport, targeting travelers passing through a hub connected to more than 200 global destinations. The shop sits in Terminal 1 at Shop 7E101A on Level 7 Departures East Hall, inside the airside restricted area.

    Its interior uses an industrial aesthetic with runway markings and turbine motifs, mirroring the travel-focused flagship design the brand first rolled out at Beijing Capital International Airport.

    Local exclusives and travel gear

    The shop layout puts practical travel items at the front, led by POUKAPOUKA neck pillows. Shelves deeper inside carry original intellectual property lines including NOOK and CiCiLu, alongside mechanical series such as BEASTBOX and Hyper-Activated display models.

    To appeal directly to outbound tourists, 52TOYS introduced several airport-exclusive goods. These feature local cultural motifs, including pineapple bun accessories, kung fu figurines, Cha Chaan Teng themed sets, and branded luggage tags.

    Transport hub rollout strategy

    Chinese pop toy brands are leaning heavily on transport retail to capture foreign shoppers without opening standalone city networks abroad. Pop Mart and 52TOYS both treat airport footprints as low-risk international shows, converting high footfall into brand recognition across Western and Southeast Asian markets.

    This launch follows earlier openings at Macau Studio City and Beijing Capital International Airport, completing the company’s network across key Greater Bay Area and mainland travel gateways. 52TOYS plans to secure additional high-traffic transit locations across regional airports in its next expansion round.

  • Trump Signals US Dollar Bans on Chinese Banks over Iran Trade

    Trump Signals US Dollar Bans on Chinese Banks over Iran Trade

    US President Donald Trump signaled plans to bar Chinese banks from the US dollar system over their commercial transactions with Iran. The warning follows the blacklisting of 60 international entities, including firms in mainland China and Hong Kong, under an enforcement push labeled Economic D-Day.

    Treasury Secretary Scott Bessent announced the initial sanctions package earlier in the week, demanding an immediate halt to commercial dealings with Tehran. The measures aim to intensify economic pressure after six months of regional conflict and disruptions in the Strait of Hormuz failed to resolve through military action or negotiations.

    Dollar clearing and secondary sanctions

    Bessent stated that any institution facilitating transactions on behalf of Iranian entities faces removal from the US dollar network. The mechanism targets secondary intermediaries, putting Chinese state-owned and commercial lenders at direct risk of losing correspondent banking access in New York.

    For corporate treasuries and supply chain operators across Asia, exclusion from greenback settlement creates immediate operational friction. Trade finance across the region relies heavily on dollar-denominated letters of credit, even when settlement involves third-party energy and commodity flows originating in the Middle East.

    Pre-summit pressure on Beijing

    Commercial lenders in Beijing and Hong Kong have maintained trade settlement channels with trading partners across the Gulf. Cutting those conduits would force corporate clients to route settlement through alternative clearing channels or drop counterparties entirely to protect broader international banking books.

    The next test arrives with the scheduled bilateral summit between Trump and Chinese President Xi Jinping in Washington, where trade enforcement and financial sector access sit at the center of negotiations.

  • BMW Motorrad Pursues Partnerships with Indian and Chinese Rivals

    BMW Motorrad Pursues Partnerships with Indian and Chinese Rivals

    BMW Motorrad is pursuing collaboration with motorcycle manufacturers in India and China as European and Japanese brands face growing pressure from lower-cost Asian rivals.

    Markus Flasch, chief executive of the German automaker’s motorcycle unit, outlined the strategy in Tokyo as traditional manufacturers adjust to shifting global competition.

    Pressure from lower-cost producers

    European and Japanese motorcycle brands face a more demanding market environment as Indian and Chinese builders scale up output with lower pricing structures. Flasch said brand prestige, heritage and manufacturing quality continue to carry equal weight with consumers alongside price competitiveness.

    Cooperation across key markets

    Working directly with regional manufacturers gives established global brands access to local production scale and competitive cost bases in key Asian territories. Flasch indicated that maintaining technical standards and premium positioning remains central to the group’s response to rising competition across developing two-wheeler markets.

    BMW Motorrad is now evaluating operational alignments as domestic players in India and China accelerate their own product rollouts and international expansion.

  • China Orders Year-Long Auto Safety Review as EV Deliveries Fall 12.5 per Cent

    China Orders Year-Long Auto Safety Review as EV Deliveries Fall 12.5 per Cent

    China’s industry ministry has launched a nationwide quality inspection campaign across the auto sector. The decision follows a 12.5 per cent drop in domestic electric vehicle deliveries in the first seven months of 2026.

    Roughly 100 domestic manufacturers fall under the one-year regulatory review. Officials are targeting smart driving features, vehicle design standards and battery hardware. Vice-Minister of Industry and Information Technology Xin Guobin told a Beijing press conference that authorities will bar new auto technologies from the market if they fail stricter verification protocols.

    Stricter rules for driver assistance

    Regulators stepped in following fatal crashes and a rise in complaints over software malfunctions and battery defects. In central China’s Anhui province, three people died when a Xiaomi SU7 crashed into a barrier under driver-assistance software. The system alerted the driver only two seconds before impact. State media also reported an increase in formal battery quality complaints filed with public inspection bodies this year.

    Automakers must now redirect capital toward core manufacturing controls instead of racing to roll out experimental software. For years, domestic brands used rapid updates to autonomous driving and digital cockpits to stand out in crowded showrooms. Stricter approvals will slow product rollouts across the board. That gives established global marques breathing room while putting cash-strapped local startups under immediate strain.

    Price wars and dropping sales

    Showroom traffic is contracting sharply as the checks begin. Data from the China Passenger Car Association showed overall passenger vehicle deliveries fell 20.9 per cent year on year in July to 1.46 million units. Electric vehicle deliveries dropped 3.9 per cent to make up 65.1 per cent of that total. It was the seventh straight month of declining volume.

    Price cuts have failed to revive foot traffic as consumer subsidies taper off. Domestic manufacturers delivered 5.67 million electric vehicles between January and July, down from the same period a year earlier. RetailNews Asia will track whether the ministry’s inspection guidelines, scheduled to take effect within weeks, trigger formal product recalls or delayed model launches in the fourth quarter.

  • Alibaba Opens Brazil Data Centres to Target South American AI Demand

    Alibaba Opens Brazil Data Centres to Target South American AI Demand

    Alibaba Group launched new data centres in Brazil to provide artificial intelligence computing capacity across South America. The facility marks the Chinese tech conglomerate’s latest infrastructure push outside its domestic base.

    The investment brings Alibaba’s cloud division into direct competition with Western infrastructure providers across Latin America. Local enterprises and developers gain direct access to the group’s AI model deployment tools and cloud compute services without routing data through North American server hubs.

    Expanding Cloud Infrastructure Outside Asia

    Alibaba has focused its overseas cloud strategy on emerging markets where digital infrastructure demand outpaces local supply. While the group built its initial international presence across Southeast Asia and the Middle East, South America represents a fresh expansion corridor for its enterprise AI suite.

    Building local data centres cuts latency for enterprise clients in Brazil and neighbouring economies. It also satisfies regional data residency requirements, a critical hurdle for financial institutions, retailers, and public sector clients adopting generative AI software.

    Competition for Global AI Workloads

    For retailers and consumer platforms operating across Latin America, the facility adds capacity for real-time customer analytics, logistics routing, and automated recommendation engines. Chinese cross-border e-commerce platforms active in the region also rely on low-latency cloud infrastructure to process transactions and handle merchant inventory.

    The expansion tests whether Chinese cloud architectures can win market share in South America against entrenched US infrastructure operators. The next milestone will be client onboarding across regional enterprise accounts as the new server zones go live.

  • TikTok Shop Nears €500 Million in European GMV Led by Creator Affiliates

    TikTok Shop Nears €500 Million in European GMV Led by Creator Affiliates

    TikTok Shop generated €498.78 million in gross merchandise value across Germany, France, Spain, and Italy during the second quarter. Independent content creators drove nearly all of that volume.

    Affiliate creators accounted for 69.9 per cent of total sales across the four European markets, according to estimates compiled by Lengow and Kalodata. Direct brand storefronts generated the remainder.

    Shoppable Video Dominates Live Streams

    Short video clips with embedded product links drove 63.8 per cent of all transactions. Live shopping streams generated just 17.2 per cent. The breakdown reveals that European shoppers prefer on-demand video over scheduled shopping broadcasts.

    That pattern contrasts sharply with Southeast Asia, where ByteDance built TikTok Shop through marathon livestreams. Live broadcasts remain the core revenue engine for merchants competing against Shopee and Lazada in Indonesia, Thailand, and Vietnam.

    European Merchant Model Shifts to Creator Networks

    European sellers are moving marketing budgets out of standalone brand accounts and into creator commissions. Instead of managing internal production studios, merchants rely on third-party influencers to post reviews and tutorials linked directly to checkout.

    This model allows ByteDance to scale product listings without holding inventory or funding local customer acquisition campaigns. Brands fulfill orders directly. Creators collect automatic commissions on every item sold through their feeds.

    ByteDance now faces the challenge of sustaining creator-led conversion rates as it expands TikTok Shop into more European Union markets and navigates tighter regulatory scrutiny over platform e-commerce.

  • Esprit Posts HK$87.7 Million First-Half Loss as Licensing Pivot Stumbles

    Esprit Posts HK$87.7 Million First-Half Loss as Licensing Pivot Stumbles

    Esprit Holdings swung back into the red with a net loss of HK$87.7 million (US$11.2 million) for the first half of 2026. Revenue for the six months to June totaled just HK$14.9 million ($1.9 million), reflecting the brand’s radical downsizing into a pure licensing shell.

    The result reverses a brief HK$1.3 million profit recorded a year earlier. Esprit has booked a full-year profit only once since 2016, racking up more than $1 billion in cumulative losses while shuttering store networks and liquidating units across Europe and North America. In June, the company deconsolidated its Canadian business following local insolvency filings.

    Balance-sheet cash generation was minimal, with net cash inflow standing at $712,000 for the period. Total assets stood at HK$295.45 million against liabilities of HK$232.19 million, supported by HK$335 million in total credit facilities, of which HK$125.13 million was drawn at the end of June.

    Accumulating Legal Claims

    Legal liabilities from defunct operational entities continue to drain group reserves. In July, the International Court of Arbitration ordered Esprit to pay $3.93 million and HK$40,900 plus interest over disputed 2024 legal fees, forcing an additional HK$22.5 million charge on top of earlier provisions.

    A Dutch bankruptcy trustee handling the collapse of Esprit Europe is seeking up to 49 million euros ($57.1 million) over contested intra-company transfers. Esprit contends the claim is unenforceable in Hong Kong courts. A separate dispute over an early lease termination poses an estimated HK$14 million exposure.

    Retail Partners and Royalties

    Under acting chairman Bradley Wright, the company has staked its survival entirely on collecting royalties from third-party partners. Licensees handle inventory, logistics, and store operations across Asia and the Americas while Esprit trades as an asset-light trademark owner.

    In Hong Kong, Esprit’s licensee opened a second location with a flagship store at Olympian City. Mainland Chinese partners sell across Tmall, Douyin, Vip.com, and JD.com while pushing the brand into activewear. In North America, the local licensee placed retro logo fleece sweatshirts into Costco in the United States and Walmart in Canada in July.

    The shift mirrors the path taken by troubled apparel names across the region that abandoned direct retail in Asian markets in favor of wholesale brand licensing. Stripping away direct operating costs lowers overhead quickly, but the model leaves Esprit dependent on wholesale discounters and cut-price online channels that risk diluting whatever brand equity remains from its 1980s peak.

    Attention turns next to the legal jurisdiction dispute in Hong Kong, where proceedings on the 49 million euro Dutch trustee claim will test whether Esprit’s offshore corporate structure can protect its remaining HK$63.26 million in net assets from European creditors.

  • Shein Prices Hong Kong IPO at $26.5 Billion Valuation to Raise $1.73 Billion

    Shein Prices Hong Kong IPO at $26.5 Billion Valuation to Raise $1.73 Billion

    Shein priced its Hong Kong initial public offering at HK$48.56 a share, raising HK$13.6 billion ($1.73 billion) and valuing the fast-fashion retailer at $26.5 billion.

    The price sits near the midpoint of the marketed HK$47.60 to HK$49.50 range. That crystallises a sharp valuation reset, leaving the business worth roughly one-quarter of its $100 billion private market peak in 2022 and down from $66 billion in 2023.

    Valuation Reset and Shareholder Payouts

    Cornerstone investors committed about $383 million to the offering. Existing backers Boyu Capital, Tiger Global and General Atlantic led that group, joined by Tencent, Greenwoods, Taikang Life and UBS Asset Management. Shein plans to spend 80 per cent of the net proceeds on upgrading technology infrastructure and expanding its international market reach.

    Cash outflows will also head straight to legacy backers. The company agreed to pay up to $3.5 billion to settle obligations with investors who bought special share classes during earlier private fundraising rounds.

    The listing ends a four-year hunt for a public venue after regulatory hurdles blocked attempts to float in New York and London. For Asian equity capital markets, securing a $26.5 billion consumer tech platform provides welcome liquidity to the Hong Kong exchange, but the steep discount shows investors now demand hard profitability rather than runaway gross merchandise volume.

    Slowing Growth and Market Scrutiny

    Financial filings show operating momentum has cooled across key Western markets. Shein reported revenue growth of just 1.1 per cent in the first quarter, with management projecting first-half performance to match that pace alongside slightly weaker operating margins.

    Local retail demand in Hong Kong proved muted during the bookbuild following a broader regional equities retreat in July. Alvin Cheung, associate director at Prudential Brokerage, noted that retail investors questioned Shein’s expansion prospects as shipping expenses and competition climbed.

    Goldman Sachs, Morgan Stanley and JPMorgan served as joint sponsors on the deal. Final institutional and retail allotment figures will be published on Monday, ahead of the stock’s trading debut on the Hong Kong Stock Exchange on Tuesday.

  • Domino’s China Operator DPC Dash Adds 235 Stores as Revenue Hits RMB3.13 Billion

    Domino’s China Operator DPC Dash Adds 235 Stores as Revenue Hits RMB3.13 Billion

    DPC Dash added 235 net new Domino’s Pizza stores in China during the first half of 2026. Group revenue rose 20.8 per cent.

    Revenue for the six months ended June 30 reached RMB3.13 billion (US$440 million). Net profit rose 22.9 per cent year on year to RMB81 million, supported by a 7.1 per cent lift in same-store transactions.

    That buildout took the chain’s network to 1,550 stores across 75 cities. The operator entered 15 new municipal markets during the period.

    Pushing Into Lower-Tier Markets

    Lower-tier Chinese cities now make up the bulk of the brand’s footprint. The operator runs 1,018 stores outside Tier 1 hubs, compared with 532 locations across primary metropolitan areas.

    DPC Dash holds exclusive master franchise rights for Domino’s in mainland China, Hong Kong and Macau. Chief executive Aileen Wang said the company will focus on lifting average transaction value and expanding customer volume as third-party food delivery subsidies diminish across the sector.

    Western fast-food chains in China have redirected capital expenditure away from saturated top-tier cities to capture cheaper real estate and consumer demand in secondary markets. While quick-service competitors battle heavy price discounting on aggregator apps, Domino’s relies on its own delivery network and lower operating costs to protect unit margins.

    Pipeline Toward 350 Openings

    Between June 30 and August 14, the operator launched another 27 stores across the country.

    Another 38 locations are under construction, with 36 additional leases signed or approved. Those sites keep the business on track toward its full-year target of approximately 350 net new store openings.