Fosun International Ltd. fell the most in months in Hong Kong trading after warning its annual loss may widen by as much as fivefold, driven by impairment charges on property projects and other assets. The Shanghai-based conglomerate dropped as much as 5% on Monday, the steepest intraday decline since October. Fosun said Friday that it expects a preliminary net loss of 21.5 billion yuan to 23.5 bi...
Fosun International Ltd. fell the most in months in Hong Kong trading after warning its annual loss may widen by as much as fivefold, driven by impairment charges on property projects and other assets. The Shanghai-based conglomerate dropped as much as 5% on Monday, the steepest intraday decline since October. Fosun said Friday that it expects a preliminary net loss of 21.5 billion yuan to 23.5 billion yuan ($3.1 billion–$3.4 billion) for the year ended Dec. 31, compared with a 4.35 billion yuan loss in 2024. The company, which has interests in property, finance, and healthcare, has been hit by China’s prolonged real estate downturn. The impairment charges underscore mounting pressure on conglomerates with significant exposure to property-linked assets.
Qnity Electronics announced the acquisition of a new semiconductor research and manufacturing facility in Taiwan as part of a $61.5 million investment to expand production capacity and support growing global demand across the semiconductor industry. The new facility will support advanced chip manufacturing applications and will include production areas, clean rooms, warehousing infrastructure, res...
Qnity Electronics announced the acquisition of a new semiconductor research and manufacturing facility in Taiwan as part of a $61.5 million investment to expand production capacity and support growing global demand across the semiconductor industry. The new facility will support advanced chip manufacturing applications and will include production areas, clean rooms, warehousing infrastructure, research laboratories, and office space designed to enable high-performance manufacturing at scale. Located in Taiwan’s Hsinchu Science Park, the site expands Qnity’s existing presence in the region and reinforces the company’s strategy of maintaining manufacturing operations close to major customers. The company said its local-for-local operating model is designed to help partners meet rising demand driven by artificial intelligence, high-performance computing, and advanced connectivity technologies. The expansion comes as the global semiconductor industry continues to grow rapidly, with total revenues expected to approach $1 trillion in the coming years due to increasing demand for AI chips and data center infrastructure. Qnity said it has been expanding capacity across its semiconductor businesses over the past three years to keep pace with industry growth. The Taiwan investment builds on those efforts while strengthening supply assurance, improving operational agility, and positioning the company to meet evolving demands in next-generation chip manufacturing. The facility is expected to begin operations in early 2027, with additional research and development capabilities planned in future development phases. KEY QUOTE: “Growth in advanced-node manufacturing continues to accelerate, and our customers are scaling rapidly to support next-generation technologies. This investment expands our capacity to meet customer demand, enhances global supply chain resilience, and enables the innovation and performance our customers depend on. This facility represents more than just additi...
China’s consumer-price growth accelerated to the quickest in over three years and factory deflation moderated again, after a rally in energy markets and as household spending boomed during a later-than-usual Lunar New Year holiday. The consumer-price index climbed faster than all forecasts to 1.3% in February from a year earlier, after a 0.2% rise in January, according to data released by the Nati...
China’s consumer-price growth accelerated to the quickest in over three years and factory deflation moderated again, after a rally in energy markets and as household spending boomed during a later-than-usual Lunar New Year holiday. The consumer-price index climbed faster than all forecasts to 1.3% in February from a year earlier, after a 0.2% rise in January, according to data released by the National Bureau of Statistics on Monday. The median estimate of economists surveyed by Bloomberg was 0.9%. Producer prices narrowed their drop to the least since July 2024 even while declining for a 41st straight month. They fell 0.9% from a year earlier, less than the forecast for a 1.1% decrease. China is set for a gradual reflation this year after suffering its longest streak of declines in economy-wide prices in decades. The record spending surge during the long public holiday likely jolted some consumer costs upward, with signs already pointing to an easing of deflationary pressures in manufacturing and services . President Donald Trump ’s war with Iran is also pushing up the cost of oil globally and endangering an important source of discounted crude imports for China. Global benchmark Brent spiked as much as 20% on Monday to above $111 a barrel, the highest level since July 2022. “The transmission impact of global geopolitical conflicts on energy prices is starting to manifest itself,” NBS statistician Dong Lijuan said in a statement accompanying the data release. China’s domestic fuel prices rose 3.1% in February from the previous month, according to Dong, though they still declined sharply from a year earlier. The extent of the uplift in last month’s consumer inflation will probably prove temporary, caused in large part by the timing of the Lunar New Year. The festival is a moving holiday that ran from Jan. 28 to Feb. 4 in 2025 but fell entirely in February of this year. China’s top leaders last week issued their strongest pledge yet to end deflation , with a vow to “s...