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South China Morning Post
12 hours ago
- Business
- South China Morning Post
China's UBTech Robotics eyes US$307 million in Hong Kong share placement
Shenzhen-based UBTech Robotics, China's top maker of humanoid robots, plans to raise about HK$2.41 billion (US$307 million) through a share placement in Hong Kong, according to a filing on Tuesday. The company, which became the first robotics maker on the Hong Kong stock exchange in 2023, is offering 30,155,450 new shares at HK$82 per share, representing a discount of about 9 per cent to the closing price of HK$90.25 on Monday. The new shares would represent around 6.39 per cent of the company's enlarged issued share capital after the placement, it said. UBTech planned to use the proceeds for business operations and development, including working capital, investments, project construction and renovation, as well as for repayment of loans and interest, according to the filing. Since its listing at the end of 2023, the company has carried out a series of follow-on fundraisings, including nearly HK$2 billion in the past 12 months. UBTech shares dropped by about 5.6 per cent to HK$85.15 on Tuesday morning.
Irish Times
a day ago
- Business
- Irish Times
Profits up at BOC Aviation Irish arm
The Irish arm of aircraft lessor BOC Aviation posted pre-tax profits of $243.3 million (€208.62 million) last year, mainly due to a $158 million insurance payment received concerning 15 aircraft detained in Russia. New accounts filed by the Dublin based BOCAviation (Ireland) Ltd show that the pre-tax profits of $243.3 million for 2024 are 21 per cent down on the pre-tax profits of $308.19 million in 2023. The insurance payouts last year followed $258 million paid out in 2023 under the same heading. Total revenues and other income decreased by 7 per cent to $660.4 million in 2024 from $710.6 million in 2023. READ MORE The 2024 revenues included lease revenues of $374.25 million. The directors state that the decline is mainly due to lower insurance settlements in respect of aircraft owned by the company and formerly leased to Russian airlines which were detained in Russia. The directors state that 'the company is continuing to pursue insurance claims in respect of aircraft currently or formerly detained in Russia'. The directors said that in general, 2024 saw a return to growth across the industry with traffic recovery to near 2019 levels. The Irish unit is a wholly-owned subsidiary of BOC Aviation Limited which is a public company incorporated in the Republic of Singapore and listed on the main board of the Hong Kong Stock Exchange. The insurance settlement concerning the 15 aircraft coincided with the company's professional fee costs increasing by 59 per cent to $12.69 million. At the end of December last, the company had a total of owned and managed aircraft of 142 aircraft, including 111 owned aircraft and 31 managed aircraft. The company recorded a post tax profit of $206.7 million after incurring a corporation tax charge of $36.6 million. The pre-tax profit takes account of non-cash depreciation costs of $166.24 million and finance costs of $181.3 million. The firm last year recorded profits of $22.4 million from $211.92 million realised from the sale of aircraft. The firm employs 11 here and staff costs last year increased by 69 per cent from $3.16 million to $5.33 million that included $4.34 million in salaries, bonuses and other staff costs. Directors' pay last year totalled $963,000 that included emoluments of $731,000. The firm's cash funds last year increased from $119.65 million to $151.16 million. The business paid out no dividend last year. The directors state that total assets were stable year-on-year, at $5.39 billion at December 31st 2024 compared to $5.38 billion one year prior.
South China Morning Post
2 days ago
- Business
- South China Morning Post
Shareholders of mainland Chinese firms look to Hong Kong for family offices: asset manager
Shareholders of mainland Chinese companies are showing increasing interest in setting up family offices in Hong Kong after their initial public offerings amid a swelling pipeline of new listings in the city, according to an asset manager overseeing up to US$2 billion in wealth. 'This week alone, I have met two clients inquiring about family office services and tonight I am meeting another – lots of overtime,' said Wang Fengyu, founder and chairman of Hong Kong-based Oakwise Capital, in an interview on Wednesday. With a US$100 million minimum threshold of entry for its multifamily office services, the firm – established in 2021 – served 10 clients, managing a total of US$1.5 billion to US$2 billion. Around 70 per cent of these clients were shareholders of Hong Kong-listed companies with market capitalisations of HK$5 billion (US$637 million) to HK$50 billion. Wang noted a rise in demand from such clients over the past year, a trend he expected to continue with a growing number of mainland companies lining up for share sales. The city's bourse has hosted 50 listings, raising a total of US$15.8 billion as of July 16. Of those, 44 firms hailed from the mainland, accounting for most of the funds raised, according to data provided by the London Stock Exchange Group. View of West Kowloon in Hong Kong. Photo: Jonathan Wong
Nikkei Asia
4 days ago
- Business
- Nikkei Asia
Hong Kong lists first bitcoin ETF in 2025 amid cryptocurrency bull run
Pando Finance's Hong Kong dollar-denominated ETF rose 2.3% on its debut in Hong Kong Stock Exchange on July 18. (Lorretta Chen) LORRETTA CHEN HONG KONG -- Hong Kong's licensed virtual asset manager Pando Finance on Friday listed its bitcoin exchange-traded fund (ETF) on the Hong Kong Stock Exchange's main board as regulatory support for cryptocurrencies pushes the sector's prices to fresh highs. The Hong Kong dollar-denominated ETF -- which tracks the Bitcoin Reference Rate by Chicago's CME CF Cryptocurrency Benchmarks -- rose 2.3% in its debut.
News18
5 days ago
- Business
- News18
Labubu Maker Sees 350% Jump In Profit: How These Dolls Turned From Toy To Trendsetter?
Last Updated: Chinese toy firm Pop Mart says it expects a massive 350% jump in its profit in the first six months of this year. In a landscape crowded with content and competing attention spans, few products cut through the noise to become cultural phenomena. Yet, the Labubu doll, an artistic creation from Pop Mart and illustrator Kasing Lung, has done just that. Labubu dolls have earned their parent company a massive wealth. Chinese toy firm Pop Mart said it expects a massive 350% jump in its profit in the first six months of this year. The company, which holds a stock market valuation of over $40 billion, attributed the sharp rise in profits to growing global recognition of the brand and strong cost controls. Launched in 2019, Labubu has helped Pop Mart evolve into a major global retailer, now operating over 2,000 stores and vending machines worldwide. Pop Mart went public on the Hong Kong Stock Exchange in 2020, and its stock has skyrocketed — gaining nearly 600% in value in the past year alone. In 2024, international sales accounted for nearly 40% of the company's total revenue. How Did Labubu Become Sensation? A Brand Equity Perspective & PR Case Study Experts said Labubu's rise from niche collectible to global cult icon is not only a marketing exemplar but also a PR case study in turning social buzz into sustained publicity. 'Labubu isn't just a product story — it's a PR masterclass," Samir Kapur, a communication consultant. Labubu's strategic drop model — where collectors buy 'blind boxes' with limited-edition designs — has driven its mystique and media appeal. Pop Mart is best known for selling toys in 'blind boxes", a type of packaging that hides its contents until it is opened. Kapur said that rather than traditional influencer marketing, Labubu relied on a participatory model. Influencers became collectors and evangelists, unboxing the dolls with childlike joy and sharing their stories across TikTok and Instagram. 'Every drop becomes an event, not just a product release. PR professionals helped the company with exclusivity narratives in public, engaging niche communities and framed Labubu as a symbol of taste, not a toy." One reason Labubu, which ruled the internet in June 2025, escaped the fate of other viral toys like fidget spinners is its strong artistic origin story. It was not about utility, but imagination, he added. 'Labubu was positioned as an art piece, rooted in story and emotion. This elevated its perception and justified premium pricing," Kapur added. The case underscores a larger truth: hype and publicity play different roles in brand building. 'Hype lives on TikTok and Reddit," says Kapur. 'But PR takes that noise and turns it into structure. Into stories. Into legitimacy." He cites three specific tactics that worked: First is positioning the creator's artistic vision as a narrative hook, second is placing Labubu in subcultures like anime and streetwear, and third is framing it around broader themes like nostalgia and emotional collecting. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
