SHEIN-W

2 months agoNews Editor

SHEIN-W drops more than 13% intraday after weak interim earnings

SHEIN-W fell more than 13% intraday on Sept. 29, with the stock quoted at HK$30.6, according to Bitget market data. The move came after the global online fast-fashion e-commerce platform disclosed its first unaudited interim results since listing after the market closed on Sept. 28. For the first half, SHEIN-W reported net revenue of $20.1 billion, up 1% year over year, while total orders reached 549 million, up 6.4%. Profit metrics were notably weaker. Reported net profit rose sharply because of non-operating items including changes in the fair value of convertible preferred shares, but adjusted net profit, which better reflects the core business, fell 55.6% from a year earlier to $499 million, equal to just 2.5% of net revenue. Operating profit declined 52.9% year over year. In the second quarter, adjusted net profit dropped 66.6% to $228 million, and margin narrowed from 6.2% in the same period last year to 2.1%.

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Guangyunda

2 months agoNews Editor

Guangyunda Takes a Small Stake in Jishengwei as Core Operations Remain Under Pressure

Shenzhen-listed Guangyunda has disclosed two related-party transactions to build a position in Jishengwei (Shanghai) Semiconductor Technology Co., Ltd., a domestic semiconductor precision components maker, with total spending of less than RMB 20 million through two wholly owned subsidiaries. The move gives Guangyunda direct and indirect exposure to a segment tied to semiconductor equipment localization, but it is not a controlling acquisition. The investment comes as Guangyunda’s latest interim results show a sharp gap between reported growth and underlying operating performance. In the first half of 2026, revenue rose 117.90% year over year to RMB 1.086 billion and net profit climbed 728.49% to RMB 14.7538 million. Yet much of that growth came from acquisition-driven consolidation and a fair-value gain tied to a strategic placement in Youyan Metal. Excluding non-recurring items, the company posted a loss of RMB 128 million, versus a loss of RMB 1.945 million a year earlier. Operating cash flow was also negative at RMB 139 million, while gross margin fell 11.31 percentage points to 26.92%. Jishengwei itself remains loss-making. The company reported a net loss of RMB 32.1838 million in 2025 and another RMB 31.1444 million loss in the first half of 2026.

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OSL Group

2 months agoNews Editor

OSL Group H1 Revenue Up 65.8% to HK$55.8B, Says It Now Leads B2B Stablecoin Payments

Hong Kong-listed OSL Group (HKEX: 863) reported interim results for the six months ended June 30, 2026, with total revenue climbing 65.8% year over year to HK$55.813 billion. Payment business revenue rose 69.3% to HK$49.083 billion, accounting for 88% of total revenue, while total trading volume surged 241.3% to HK$172 billion. Revenue from outside Asia-Pacific reached HK$7.8 billion, up tenfold. Adjusted non-IFRS earnings came in at HK$331 million, up 75.5%. CEO Cui Kaiwen said the company set new records in trading volume and revenue despite a notable market pullback, and described OSL as the world's largest stablecoin payment infrastructure provider by B2B stablecoin payment volume. In February 2026, OSL launched USDGO, a corporate US dollar stablecoin issued by Anchorage Digital Bank, N.A.; its circulation exceeded US$800 million within four months and surpassed US$1.2 billion by August. During the reporting period, OSL completed the acquisition of Banxa Holdings Inc in January 2026, secured a MiCAR licence from Austria's Financial Market Authority and an AFSL from the Australian Securities and Investments Commission, and launched OSL AgentPay, a stablecoin payment rail for AI agents.

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HashKey

3 months agoNews Editor

HashKey reports 20.6% revenue growth in H1 2026 as institutional trading volume jumps 58.8%

HashKey Holding released its interim results for the first half of 2026 on Aug. 27, posting higher revenue, narrower adjusted losses and a bigger institutional trading mix despite a broad contraction in the global crypto market. Total revenue reached HK$343 million, up 20.6% from a year earlier, while gross profit rose 12.5% to HK$208 million and gross margin improved to 60.6% on a sequential basis. Adjusted loss narrowed from HK$398 million in the same period last year to HK$315 million, a 21% reduction. The exchange facilitation business remained the biggest contributor, generating HK$268 million in revenue, up 38.6%. Platform trading volume climbed 31.8% to HK$282.2 billion, with institutional clients accounting for HK$231.5 billion, up 58.8% year over year and representing 82% of the total. The report also highlighted growth in tokenization and on-chain services, where total on-chain RWA value reached HK$2.68 billion, up 167.8%, including what it described as Hong Kong’s first real-estate RWA and first regulated silver RWA token. Alongside the financial results, HashKey disclosed a string of expansion moves spanning Singapore, Vietnam, Dubai and Bermuda, as well as partnerships with JPMorgan, DBS Bank, Canton and Morpho.

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HashKey

3 months agoNews Editor

HashKey reports interim results with 20.6% revenue growth and HK$282.2 billion in trading volume

HashKey Holdings said its unaudited consolidated interim results for the six months ended June 30, 2026 showed growth across revenue, trading, tokenized real-world assets, and asset management. Total revenue reached HK$343 million, up 20.6% year over year, while gross profit rose 12.5% to HK$208 million. Gross margin improved to 60.6% compared with the second half of 2025. Trading facilitation services, described by the company as its core growth engine, generated HK$268 million in revenue, up 38.6% from a year earlier. Total platform trading volume climbed to HK$282.2 billion, up 31.8%, with institutional client volume rising 58.8% to HK$231.5 billion and accounting for 82.0% of the total. HashKey also said it launched Hong Kong’s first real estate RWA and the city’s first regulated silver RWA token during the period, pushing total on-chain RWA value to HK$2.68 billion, up 167.8%. In asset management, AUM reached HK$5.94 billion and revenue came in at HK$38.84 million. The company also disclosed a strategic investment in Vietnam’s CAEX and a $40 million investment from a fund under HashKey Capital Investment to lead SignalPlus’ Series B+ round.

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HashKey

3 months agoNews Editor

HashKey posts 20.6% revenue growth in 2026 interim results as adjusted loss narrows 21%

HashKey Holding Limited reported unaudited interim results for the six months ended June 30, 2026, showing higher revenue, improved gross profit and a narrower adjusted loss despite a broader pullback in the global crypto asset market. The company said total revenue reached HK$343 million, up 20.6% year over year, while gross profit rose 12.5% to HK$208 million. Gross margin improved to 60.6% from the second half of 2025, and adjusted loss, measured on a non-IFRS basis, narrowed 21.0% to HK$315 million from HK$398 million a year earlier. HashKey’s trading business remained the main growth driver, with trading facilitation revenue climbing 38.6% to HK$268 million and total platform trading volume increasing 31.8% to HK$282.2 billion. The company also reported growth in tokenization and asset management, disclosed a proposed acquisition involving Singapore’s Asia Pacific Exchange, and outlined strategic investments in Vietnam’s CAEX and derivatives technology firm SignalPlus.

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MiniMax Group

3 months agoNews Editor

MiniMax Group reports $116.6 million in first-half revenue for interim period

Hong Kong-listed MiniMax Group Inc. (stock code: 0100) has released its unaudited interim results for the six months ended June 30, 2026, showing sharp revenue growth alongside continued losses and heavy research spending. Total revenue reached $116.6 million, up 283.1% year over year, while gross profit rose 464.8% to $20.813 million. Loss for the period came in at $358 million, narrowing 11.0% from a year earlier, but adjusted net loss widened 111.2% to $293 million. By segment, revenue from the open platform and other AI-based enterprise services climbed 703.1% to $73.929 million, accounting for 63.4% of total revenue, while AI-native product revenue increased 100.9% to $42.644 million. Mainland China contributed 39.2% of revenue, with other regions making up 60.8%. Research and development expenses rose 138.8% to $296.9 million. The company said its products and services now cover more than 230 countries and regions, and noted that it launched MiniMax M3, upgraded its core model products, and later released MiniMax H3 with open weights during the reporting period.

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SenseTime

3 months agoNews Editor

SenseTime posts first IFRS net profit in interim results as generative AI revenue jumps

SenseTime Group reported its unaudited interim results for the six months ended June 30, 2026, showing revenue of about RMB 2.911 billion, up 23.4% from a year earlier. Gross profit reached roughly RMB 1.206 billion, with gross margin at 41.4%, an increase of 2.9 percentage points year on year. The company posted profit of about RMB 617 million during the period, marking its first net profit under IFRS, compared with a loss of about RMB 848 million in the same period last year. EBITDA came in at about RMB 1.388 billion, while adjusted net loss narrowed 67.3% year on year to about RMB 386 million. By segment, generative AI revenue rose 79.9% to about RMB 2.327 billion, visual AI revenue increased 13.9% to about RMB 497 million, and overseas revenue grew 127.0%. Recurring revenue reached about RMB 1.145 billion, up 124.4%, accounting for 39.3% of total revenue.

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