China's Moutai serves shareholders juice, not baijiu, as austerity bites
A banquet held by the company on the eve of a shareholders meeting in Guizhou province was changed this year to a simple buffet format, and the Feitian that used to be placed on each table was nowhere to be seen, according to Chinese media.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
43 minutes ago
- Nikkei Asia
Baidu Q2 ad revenue drops 15% despite AI push, as rivals gain ground
Baidu's core revenue earner, online ads, took a hit in the most recent quarter. © Reuters CISSY ZHOU August 20, 2025 19:35 JST HONG KONG -- Baidu's online advertising revenue fell 15% to 16.2 billion yuan ($2.26 billion) in the April-June quarter, as subdued demand in China's ad market and the emergence of new competitors continued to weigh on the Chinese search giant's most important segment, which makes up over 60% of its core earnings.
The Mainichi
2 hours ago
- The Mainichi
White House launches TikTok account amid easing tensions with China
WASHINGTON (Kyodo) -- The White House on Tuesday launched an official TikTok account despite U.S. lawmakers deciding the popular short-form video-sharing app owned by a Chinese company is a national security concern. The launch, seemingly aimed at helping President Donald Trump reach wider and younger audiences, comes amid easing tensions with China and less than a month before a deadline requiring TikTok's Chinese owner ByteDance Ltd. to sell the app or face a federal ban. In April 2024, Trump's predecessor Joe Biden signed a federal law requiring ByteDance to sell the U.S. version of TikTok or face a nationwide ban on national security grounds following its passage with bipartisan congressional support. The ban was supposed to have taken effect in January, but Trump has repeatedly pushed back the deadline since taking office the same month, offering more time for the Chinese company to find a Washinton-approved buyer. In June, Trump signed an executive order for the most recent extension, which ends on Sept. 17.
Nikkei Asia
2 hours ago
- Nikkei Asia
Hong Kong exchange's first-half profit jumps nearly 40% to record
The logo of Hong Kong Exchanges and Clearing (HKEX) is pictured in its office in Hong Kong in June. © Reuters August 20, 2025 18:00 JST (Reuters) -- Hong Kong's stock exchange operator said on Wednesday its first-half profit rose almost 40% to a record 8.52 billion Hong Kong dollars ($1.09 billion), driven by a sharp increase in daily stock trading and a revived listings market. The revenue of Hong Kong Exchanges and Clearing (HKEX) reached HK$14.1 billion in the past six months, up 33% on the year, it said in a stock exchange filing. It declared an interim dividend of HK$6, up from HK$4.36 last year, while earnings per share rose to HK$6.74 from HK$4.84. HKEX said its average daily equities turnover, or buying and selling of stocks, rose 122% in the half to be worth HK$222.8 billion ($28.54 billion). Southbound stock trading, where mainland investors trade Hong Kong shares, was up nearly 200%. HKEX chief executive Bonnie Chan said cash market, derivatives and stock connect volumes reached new heights that helped push half-yearly revenue and profit to their best ever. "We enter the second half of 2025 with new initiatives ... to further enhance the competitiveness and attractiveness of our markets," Chan said, adding that the first half also saw a record number of initial public offering and listing applications. Hong Kong's Hang Seng Index is up almost 25% year to date, making it one of the world's best performing major equities markets. Analysts say the surge in the benchmark index has been driven by foreign investors' return to buying Chinese stocks, despite U.S. President Donald Trump's April tariffs package and geopolitical tension between the two countries.
