A New Wave of AI-Related Layoffs in China's Big Tech Firms
TMTPOST -- June 30 is a bad day for many employees of China’s large technology companies. This year, HR departments were hurrying to complete the layoff process by that date. “There is a layoff list, and you are on the list,” the HR lady told Ni Ping bluntly in mid-May. Ni had been expecting it. In March and April, rumors were circulating that a new wave of layoffs would happen in internet companies. AI-themed training sessions, token-use competition and hidden performance assessments were the new normal. Even with much preparation for this, he broke down emotionally. “I do not want to go through it again,” he told NextFin. Ni had worked in CTrip as a back-end software engineer for about a year, with a monthly salary of 25,000 yuan. He worked in CTrip’s most lucrative hotel business
ASX Weekly Review｜Australian Market Hits Record High with 3.7% Monthly Gain
Australia's leading corporations have delivered their financial results, with profits exceeding market forecasts. Notably, BHP and the four major banks reported earnings that significantly surpassed expectations. With only a few companies left to report, the ASX 200 index advanced 23.3 points, or 0.3%, to close at 9,168.60 points on Friday. This record finish contributed to an impressive 3.7% gain for the index over the month of February. Consumer Stocks Show Weakness While some sectors, such as consumer stocks including $JB Hi-Fi(JBHHY)$ and $Nick Scali(NCKIF)$, displayed weakness, the overall market sentiment was positive. Companies that disappointed investors, however, faced severe selling pressure.
Bilibili Inc. to Report Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results on Thursd...
Bilibili Inc. to Report Fourth Quarter and Fiscal Year 2025 Unaudited Financial Results on Thursday, March 5, 2026 SHANGHAI, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that it will report its fourth quarter and fiscal year 2025 unaudited financial results on Thursday, March 5, 2026, before the open of U.S. markets. The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern Time on March 5, 2026 (8:00 PM Beijing/Hong Kong Time on March 5, 2026). Details for the conference call are as follows: Event Title: Bilibili Inc. Fourth Quarter and Fiscal Year 2025 Earnings Conference Call Registration Link: https://
Bilibili Inc. to Hold Annual General Meeting on June 20, 2025
Bilibili Inc. to Hold Annual General Meeting on June 20, 2025SHANGHAI, April 11, 2025 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today published a circular (the “AGM Circular”) to provide shareholders with information on the proposals that will be put forward at the Company’s annual general meeting of the shareholders (the “AGM”) for shareholders’ approval and a notice of the AGM (the “AGM Notice”). The AGM will be held at Building 3, Guozheng Center, No. 485 Zhengli Road, Yangpu District, Shanghai, People’s Republic of China on June 20, 2025 at 4:30 p.m. (Hong Kong time), to consider and vote on the resolutions set forth in the AGM Notice. The AGM Circular, AGM
Bilibili Publishes 2024 Environmental, Social and Governance Report
Bilibili Publishes 2024 Environmental, Social and Governance Report SHANGHAI, April 09, 2025 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that it has published its 2024 Environmental, Social and Governance ("ESG") Report, available on the Company’s investor relations website at http://ir.bilibili.com. The initiatives and achievements outlined in the report demonstrate Bilibili’s long-standing dedication to creating social value and sustainable development that benefits its users, content creators, employees, partners and other stakeholders. “Bilibili strives for more than just commercial success. We are also deeply committed to creating lastin
Tech and Chip Stocks Tumble as Trump's Reciprocal Tariffs Trigger Sell-Off
(Image Source: Shutterstock US) AsianFin -- Major technology and semiconductor stocks have taken a major hit since U.S. President Donald Trump announced steep "reciprocal" tariffs against almost all trading partners. At Monday's close, U.S.-listed shares of tech titans saw sharp declines. Apple plunged 3.67%, Intel fell 1.41%, and TSMC's ADRs slipped 0.43%. In Asian markets, Taiwan's TSMC nosedived more than 9% to its daily limit, while Foxconn and MediaTek also closed at their lower limit. In Hong Kong, Lenovo tumbled 22.89% and SMIC sank over 16%. According to market data, the U.S. stock market evaporized over $6 trillion in market capitalization between April 3 and 4. The combined valuation of the "Big Seven" — Apple, Microsoft, Amazon, Tesla, Met
Bilibili Inc. Files Its 2024 Annual Report on Form 20-F
Bilibili Inc. Files Its 2024 Annual Report on Form 20-F SHANGHAI, March 25, 2025 (GLOBE NEWSWIRE) -- Bilibili Inc. (the “Company” or “Bilibili”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (“SEC”) on March 25, 2025. The annual report in electronic format is accessible on the Company’s investor relations website at http://ir.bilibili.com as well as on the SEC’s website. For those who prefer hard copies, the Company will provide the annual report, containing audited consolidated financial statements, free of charge to shareholders and ADS holders upon request. Requests should be di
Alibaba Plans Over $53 Billion Investment in Cloud and AI Infrastructure Over Next Three Years
TMTPOST -- Alibaba Group plans to spend more than US50 billion to ramp up artificial intelligence (AI) development and deployment of the technology. Generated by Alibaba Qwen Alibaba announced plans to invest at least RMB380 billion (US$53 billion) over the next three years to advance its cloud computing and AI infrastructure, underscoring the company’s focus on AI-driven growth and its role as a leading global cloud provider, according to a statement by Alibaba’s Cloud unit on Monday. With this investment, Alibaba is scaling up its AI capabilities and cloud infrastructure to support the next wave of technological advancements, ensuring businesses and developers have the tools to innovate and grow, The statement said, without providing details about the investment plan. In thei
JD Makes Foray into Food Delivery, Offering Employment Insurance and Housing Benefits to Full-Tim...
AsianFin -- Chinese e-commerce giant JD has unveiled plans to offer comprehensive benefits to its food delivery riders starting March 1 following its entry into the food delivery market dominated by existing two giants. Full-time riders will receive full social insurance and corporate housing contributions, while part-time riders will be covered by accident and health insurance. With this announcement, JD becomes the first online platform in China to provide such extensive insurance coverage for its delivery riders, underscoring its commitment to ensuring the well-being of its workforce. As of press time, the company has received 200,000 applications from catering merchants for registering on JD platform. In a market where labor rights have often been sidelined or
Exclusive: MiniMax VP Resigns as Company Shifts Focus to AI and Consumer Markets
(Image Credit: Captured by Lin Zhijia, AGI Editor at TMTPost) AsianFin -- Wei Wei, a partner and Vice President of MiniMax, one of China’s rapidly growing AI large model unicorns, has resigned from his position. MiniMax has confirmed the news of Wei's resignation, noting that it is in line with the company's ongoing evolution. The company said that its business-to-business (B2B) operations are entering a new phase, which will now be overseen by other leaders within the team. Despite his exit, MiniMax emphasized that Wei's resignation will not impact the strength of its B2B services, particularly its AI offerings for enterprises. Wei joined MiniMax in late 2023 to take on the role of Vice President and head of the MiniMax Open Platform. He played a key role in