China's New Loans Plunge to Lowest Since 2007 as Demand Weakens
Banks are usually in no rush to meet their quarterly loan targets in July, putting the brakes on financing activity. A year ago, bank credit to the real economy contracted for the first time since 2005, as domestic demand slumped with the economy caught in a deflationary cycle.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
Zeekr Boosts Margins, Slashes Losses As New Models Power Sales
ZEEKR Intelligent Technology (NYSE:ZK), a premium electric vehicle (EV) unit of Geely Auto, reported fiscal second-quarter results on Thursday. The company reported quarterly revenue of 27.43 billion Chinese yuan, representing a decrease of 0.9% year-on-year (Y/Y). In U.S. dollars, revenue totaled $3.83 billion. The revenue grew by 24.6% quarter-on-quarter (Q/Q).Total vehicle deliveries were 130,866 units for the quarter, representing a 9.3% Y/Y increase and a 14.8% Q/Q increase. The Zeekr brand delivered 49,337 vehicles. Meanwhile, the Lynk & Co brand delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models. The premium electric vehicle company's adjusted net loss per ADS was 1.42 Chinese yuan. In U.S. dollar terms, the company reported adjusted net loss per ADS of 20 cents. Vehicle sales revenue were 22.92 billion Chinese yuan ($3.2 billion) for the quarter, representing an increase of 2.2% Y/Y driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The revenue grew by 20.0% Q/Q, mainly driven by sales growth resulting from the launch of new models. View more earnings on ZK The vehicle margin was 17.3%, up from 11.5% in the prior year quarter, driven by sustained cost-saving initiatives. The prior quarter margin was 16.5%. Revenues from other sales and services declined 13.8% Y/Y to $630 million for the quarter, due to a decrease in R&D revenue from related parties. The revenue grew by 54.5% Q/Q due to the increased overseas sales of battery packs and electric drives. The gross margin expanded to 20.6% for the quarter from 18.0% a year ago. The prior quarter margin was 19.1%. Adjusted net loss was $51 million for the quarter, down by 81.2% Y/Y. The loss declined by 38.8% Q/Q. As of June 30, 2025, cash and cash equivalents and restricted cash stood at 10.21 billion Chinese yuan ($1.43 billion). Zeekr stock gained 4.4% year-to-date signifying intense electric vehicle competition from the likes of Tesla (NASDAQ:TSLA), Nio (NYSE:NIO). Price Action: ZK shares are trading higher 1.21% to $29.99 premarket at last check Thursday. Photo by aapsky via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Zeekr Boosts Margins, Slashes Losses As New Models Power Sales originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
Trump Hits India With 50% Tariff -- Modi Strikes Back by Rebuilding Ties With China
India is inching closer to Beijing. After US President Donald Trump doubled down with a 50% tariff on Indian goodspunishing New Delhi over discounted Russian oil purchasesPrime Minister Narendra Modi is quietly reopening the China playbook. Direct flights between the two neighbors, suspended since 2020, could resume as early as next month. According to people familiar with the matter, the announcement may coincide with Modi's first China visit in seven years for the Shanghai Cooperation Organisation summit. Beijing, also under pressure from Trump's trade war, just eased urea export curbs to Indiathe world's biggest buyer of the fertilizerhinting it's open to a broader reset. Warning! GuruFocus has detected 3 Warning Signs with CAH. Meanwhile, signs of a thaw are showing up across sectors. India has resumed tourist visas for Chinese nationals after years of curbs, and the urea trade reopening marks a rare economic gesture from Beijing. These developments suggest a cautious but notable warming of ties. This isn't about alignmentit's about options. With U.S. pressure rising, Modi may be recalibrating India's external relationships in real time. If Washington closes one door, New Delhi seems ready to open two elsewhere. Trump's trade blitz may have done what years of diplomacy couldn'tpush India deeper into the BRICS fold. Modi has invited Putin to visit, expanded Mercosur trade talks with Brazil, and directly challenged Trump's claims of brokering peace with Pakistan. For investors, the implications could be far-reaching. The tariff fight might accelerate closer ChinaIndia coordination on green tech, supply chain resilience, and emerging market trade. As the world's two most populous nations recalibrate, capital may follow the thaw. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
23 minutes ago
- Yahoo
Alipay+ partners with Kaspi.kz for cross-border QR payments in Kazakhstan
Alipay+, Ant International's global wallet gateway, and a super app in Kazakhstan, have collaborated to roll out international cross-border QR payment acceptance in Kazakhstan. The move enables 12+ Alipay+-supported payment application users to conduct transactions using Kaspi QR. The partnership, which initially focused on facilitating mobile payments for users travelling abroad since April 2024, has now expanded to include domestic QR code payments. Alipay+ connects a network of 1.7 billion user accounts from 36 international payment partners, providing access to over 100 million merchants in 70 markets worldwide. Edward Yue, general manager for SEA, South Asia and ANZ at Ant International, said: 'We're very excited to be strengthening our partnership with for both inbound and outbound cross-border mobile payments that benefits Kazakhstani travellers and businesses. 'We have seen great momentum in Kazakhstanis using their app across our global Alipay+ merchants, and now we're building on the rich local ecosystem offered via Kaspi QR to connect our global partners to local businesses.' operates a dual Super App model, offering the Super App for consumers and the Kaspi Pay Super App for merchants. These platforms enable users to engage with various services, including payments, a marketplace, and fintech solutions. CEO and co-founder Mikhail Lomtadze stated: 'Since last year, in partnership with Alipay+, Kazakhstanis began to pay in some of their favourite travel destinations using the super app. 'Now, we're taking our partnership one step further. Guests visiting Kazakhstan can now pay via Kaspi QR using their Alipay+ enabled e-wallets or bank apps.' acquired a 65.41% stake in Hepsiburada, one of Türkiye's top e-commerce companies, in January 2025. The company has been publicly traded on Nasdaq since January 2024. "Alipay+ partners with for cross-border QR payments in Kazakhstan " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
