9 d. ago Labubu fans flock to Beijing store after launch of mini dolls

Labubu fans flock to Beijing store after launch of mini dolls  Hong Kong Free Press HKFP

Politics

1 week ago Alibaba claims win in China’s instant commerce war as quarterly profit rises

Alibaba Group Holding, China’s e-commerce and cloud computing services giant, on Friday reported a 78 per cent surge in profit for the June quarter, while “robust AI demand” led to a 26 per cent revenue growth for its cloud business. Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the...

Events

1 week ago Pop Mart’s New Mini Labubu Doll Sells Out Instantly in China

Pop Mart’s New Mini Labubu Doll Sells Out Instantly in China  Bloomberg

Politics

2 w. ago Pop Mart targets mobile phones with mini Labubus as it aims to double sales

Pop Mart said it would be able to easily double this year’s revenue from its 2024 record sales, as it prepares to launch a mini version of the Labubu plush toy to extend its phenomenal success and conquer more hearts beyond mainland China. The company, founded in 2010 in Beijing, could double its 2025 revenue to 30 billion yuan (US$4.2 billion) from last year’s sales of 13 billion yuan, said Pop Mart’s founder and CEO Wang Ning, citing the bigger-than-imagined worldwide market for its plush toys...

Events

2 w. ago China’s Pop Mart Targets $4 Billion In Sales This Year Amid Labubu Lunacy

China’s Pop Mart Targets $4 Billion In Sales This Year Amid Labubu Lunacy  Forbes

Economics

2 w. ago Labubu phenomenon drives Pop Mart’s record interim sales, earnings

Pop Mart established itself as the world’s most valuable toy producer and exporter of China’s “soft power” after the global phenomenon of its Labubu plush toys and figurines drove overseas revenue to soar fivefold in the first half. Online and in-store revenue outside mainland China jumped to 5.59 billion yuan (US$778 million) in the first six months, making up about 40 per cent of the Beijing-based group’s total interim sales of 13.88 billion yuan, which beat analysts’ estimates, Pop Mart said...

Politics

2 w. ago China's Pop Mart, maker of the Labubu doll, says profit soars nearly 400% in first half

China's Pop Mart, maker of the Labubu doll, says profit soars nearly 400% in first half  Reuters

Politics

3 w. ago Pop Mart's Labubus boost China's soft power as Beijing brands find global appeal

Pop Mart's Labubus boost China's soft power as Beijing brands find global appeal  CNBC

Politics

3 w. ago JD.com faces battle to gain ground in China's instant delivery market

JD.com faces battle to gain ground in China's instant delivery market  Reuters

Economics

3 w. ago China urged to curb excessive cash burn, not competition, to fight ‘neijuan’

With e-commerce platforms locked in fierce competition for China’s instant retail market, a prominent Chinese economist has called for government guidance that balances regulatory oversight with innovation and a push for new growth drivers. Wang Yiming, a central bank adviser, said “quick commerce” – involving the rapid delivery of food and essential goods, often within 30 minutes – creates new opportunities for consumption, which could be vital for long-term growth. He urged officials to guide...

Sport