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Yahoo
27-05-2025
- Business
- Yahoo
Zhihu Inc. Announces Change of Independent Director
BEIJING, May 27, 2025 (GLOBE NEWSWIRE) -- Zhihu Inc. ('Zhihu' or the 'Company') (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced the appointment of Dr. Li-Lan Cheng as an independent director of the Company. Mr. Hanhui Sam Sun has resigned as an independent director of the Company, due to other professional endeavors. These changes are effective on May 27, 2025. For the committees under the board of directors, Dr. Li-Lan will serve as the chairman of the audit committee as well as a member of the compensation committee, nomination committee, and corporate governance committee. Dr. Li-Lan Cheng is currently an executive director and chief financial officer of E-House (China) Enterprise Holdings Limited (formerly known as Fangyou Information Technology Company Limited) (HKEX: 2048) ('E-House'). He served as acting chief financial officer of Leju from 2017 to 2023, and was its executive director from 2014 to 2017. Dr. Cheng served as the chief operating officer of E-House (China) Holdings Limited (formerly NYSE: EJ) from 2012 to 2018 and its chief financial officer from 2006 to 2012. Prior to joining E-House, he served as the chief financial officer of SouFun Holdings Limited, an online real estate service company in China, from 2005 to 2006. From 2002 to 2004, Dr. Cheng served as an executive director and the chief financial officer of SOHO China Limited, a real estate developer in Beijing. Dr. Cheng was an assistant director and the head of the Asian transportation sector investment banking group of ABN AMRO Asia from 1997 to 2002. From 1995 to 1997, Dr. Cheng was a senior analyst at the National Economic Research Associates, Inc., an economic and financial consulting firm in New York. From 1989 to 1991, he was an investment trainee and analyst at the Prudential Investment Corporation, the institutional investment subsidiary of the Prudential Insurance Company of America based in Newark, NJ. Dr. Cheng is an independent director and audit committee chairman of Yunji Inc. (NASDAQ: YJ), a Nasdaq-listed social e-commerce platform in China. He also served as an independent director and on the audit committee of 51job, Inc. (formerly NASDAQ: JOBS), LAIX Inc. (formerly NYSE: LAIX), Country Style Cooking Restaurant Chain Co., Ltd. (formerly NYSE: CCSC), and Le GAGA Holdings Limited (formerly NASDAQ: GAGA). Dr. Cheng received a bachelor's degree in Economics from Swarthmore College and a Ph.D. degree in Economics from the Massachusetts Institute of Technology. Dr. Cheng is a chartered financial analyst (CFA). 'On behalf of the board of directors, I would like to extend our gratitude to Sam for his years of extraordinary service, and wish him all the best in his future endeavors,' said Mr. Yuan Zhou, chairman of the board and chief executive officer of the Company. 'We would also like to warmly welcome Dr. Li-Lan Cheng to our board. Dr. Cheng brings deep expertise in finance and corporate governance, and his fresh perspective will be tremendous assets for us. We look forward to working together closely as we execute on our strategic goals.' About Zhihu Inc. Zhihu Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community where people come to find solutions, make decisions, seek inspiration, and have fun. Since the initial launch in 2010, Zhihu has grown into the largest Q&A-inspired online content community in China. For more information, please visit Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to,' or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. For investor and media inquiries, please contact: Zhihu ir@ Christensen AdvisoryRoger HuTel: +86-10-5900-1548Email: zhihu@ in to access your portfolio
Reuters
23-05-2025
- Business
- Reuters
Analysts downgrade China's property price outlook in 2025 as trade tensions pose fresh risk: Reuters poll
BEIJING, May 23 (Reuters) - Weakness in China's property sector is expected to persist this year with home prices falling nearly 5% and set to remain stagnant in 2026, as low confidence continues to keep buyers at bay while the Sino-U.S. trade war adds further pressure, a Reuters poll showed. China's property sector, which plunged into crisis in 2021, has failed to turn a decisive corner despite several rounds of policy support steps, due in part to excessive debt among developers and a stuttering economy. Home prices are projected to decline 4.8% this year, deeper than a 2.5% drop forecast in February, with the previous estimate of a modest growth in 2026 revised to a flat trajectory, the survey of 12 analysts, conducted between 14-22 May, showed. Home prices fell 4.8% year-on-year in 2024, according to calculations by E-House, a leading real estate sales and marketing agency in China, based on data from China's statistics bureau. A confluence of factors continues to undermine confidence in the sector, including a glut of unsold homes, a sluggish job market, and weakening affordability among potential buyers, said Lulu Shi, director of Asia-Pacific corporate ratings at Fitch Ratings. "Escalating U.S.-China geopolitical tensions may lead to slower economic growth, further dampening homebuyer sentiment," said Shi. In recent weeks, Beijing has rolled out fresh stimulus measures, including reductions in mortgage rates, to shore up the real estate industry, which before the 2021 crisis contributed almost 25% to economic output. China also rolled out several supportive measures last year, including urging local governments to purchase unsold homes from heavily-indebted developers. However, these measures have had limited impact in lower-tier cities, where demand remains weak and buyer preference has shifted to higher-tier markets, said Yingxue Ren, associate director of corporate ratings at S&P Global (China) Ratings. Property sales in 2025 are expected to shrink 5.0%, compared with a 5.7% drop forecast previously. Investment is projected to drop 8.4%, faster than the previously estimated 7.0% decline. "The tariff war has reinforced Chinese policymakers' assessment of long-term Sino-U.S. decoupling, triggering a systematic policy shift toward advanced manufacturing and technological self-sufficiency," said Dan Wang, a director on Eurasia Group's China team. "The property sector is no longer seen as a key economic stabiliser," Wang added. (Other stories from the Q2 global Reuters housing poll: nL6N3RU0GL)
South China Morning Post
19-05-2025
- Business
- South China Morning Post
China's new home prices stabilise as rate cut, lifeline funding lift market confidence
Home prices in major cities in mainland China stabilised, holding onto recent gains as lower borrowing costs and state-led measures to support developers helped inject confidence in the market. Advertisement Prices of new homes in China's four first-tier cities were unchanged in April from a month ago, following a 0.1 per cent rise in March, according to data covering 70 large and medium-sized cities published by the statistics bureau on Monday. Prices in second-tier cities were also unchanged, while those in third-tier cities slipped 0.2 per cent, it added. Beijing and Shanghai recorded a 0.1 per cent and 0.5 per cent gain, respectively, while those in Guangzhou and Shenzhen declined 0.2 and 0.1 per cent, the report showed. 'This marks a phased victory for cities at all levels,' said Yan Yuejin, vice-president of E-House China Real Estate Research Institute in Shanghai. 'Continued momentum will be needed in the second quarter' to sustain the market recovery over the past seven months, he added. 08:23 China unveils policy package to guard against US tariffs ahead of trade talks in Switzerland China unveils policy package to guard against US tariffs ahead of trade talks in Switzerland China's central bank cut the mortgage rate on housing provident funds by a quarter-point cut on May 7 for first-time homebuyers, bringing it down to a record low 2.6 per cent. The nation's commercial banks have also approved 6.7 trillion yuan (US$929 billion) of loans to 'whitelist' housing projects to date, covering nearly 16 million homes, it added.
