Business
Performative Male: Gen Z new solution to attract female?
- 2025-12-11
- Culture & Leisure
- The Young Reporter
- By: FENG Zhenpeng、Li YinhengEdited by: LAI Uen Ling、LI Sin Tung
- 2025-12-11
“Performative male”, a western Gen Z pop trend begins to enter Asia. Young people have unique attitudes and views towards performative male in Hong Kong. TYR spoke to Gen Zers and psychological expert to know more about what behind the new trend. Reported by Stephen Feng Zhenpeng, Henry Li Yinheng Edited by Elaine Lai Uen-ling, Tricia Li Sin-tung
Labubu powers Pop Mart’s revenue, but can it last?
- 2025-11-25
- Business
- The Young Reporter
- By: LAI Uen Ling、SIU Tsz HangEdited by: Robin Ewing
- 2025-11-25
Yoko Chan, 35, a clerk, wearing a Labubu T-shirt and a pink Labubu charm on her handbag, wandered around a Pop Mart shop in Sha Tin. It is her weekly ritual to go to the store to look for new items. Known for its high, pointed ears, mischievous grin, and serrated teeth, the small plush toy monster Labubu is one of the most popular products at Pop Mart, the leading Chinese toymaker with over 500 physical stores in over 30 countries and regions. Since falling in love with Labubu in 2024, Chan has spent several thousand Hong Kong dollars on Labubu products. Labubu charms are her all-time favourite, and she has nearly 100 of them at home. "Labubu has different looks. Sometimes they have clothes, or smaller in size, and even with festive decorations,” Chan said. Chan is one of millions whose enthusiasm for the plushie toy helped push Pop Mart’s revenue up 250% this year, according to company data. But a recent share price drop shows that interest may be declining, and experts say the company needs new strategies to sustain investor confidence. In the Asia-Pacific region, Pop Mart’s revenue rose by between 170% and 175% compared to the same period last year. Despite the strong revenue growth, Pop Mart’s share price had fallen by 18.5% as of Nov. 6, following the release of its revenue figures on Oct. 21. Designed by Hong Kong-based illustrator Kashing Lung, Pop Mart started selling Labubu in 2018 and it went viral in 2024 after K-pop star Lisa, who has 107 millions followers, showcased the bag charm on her social posts. Other pop singers, such as Rihanna and Dua Lipa, were also spotted with these fluffy creatures adorning their bags, which further sparked public curiosity about Labubu. Pop Mart achieved revenue of US$861 …
JD shares fall over 6% in Hong Kong as Q3 net income halves on new business losses
- 2025-11-14
- Business
- By: ZHOU Yun、TANG SiqiEdited by: Yichun Fang、BO Chuxuan
- 2025-11-14
Chinese tech and service giant JD.com achieved revenue growth but it was offset by dramatic expenses, resulting in shareholders’ net income being chopped in half, as the Company released its third-quarter results on Thursday evening. Non-GAAP net income attributable to ordinary shareholders reduced by 56.1%, despite the company’s net revenue in Q3 reaching 299.1 billion yuan, up 14.9% year-on-year, with its core business, JD Retail, reporting 11.4% revenue growth to 250.6 billion yuan, as highlighted in the company’s statement. The operational loss of the company’s new business, including JD Food Delivery, JD Property, Jingxi, and overseas operations, widened dramatically more than 24 times from 615 million yuan to 15.7 billion yuan, mainly because of a 3.4 and 7.3 times increase in cost of revenue and operational expenses, respectively. Dual-listed in the US and Hong Kong, the company’s overall marketing expenses rose 110.5% year-on-year to 21.1 billion yuan this quarter. Kenny Wen, Executive Committee Member of the Hong Kong Society of Financial Analysts, said that the main reasons for the situation of increased revenue but decreased profit margin are the JD price subsidy policy and its large-scale investment in new businesses. As for the retail sector, Sandy Xu, Chief Executive Officer of JD.com, said that the electronics and home appliances category has been facing a high base since the second half of Q3, which is expected to continue in the short term, and it has been weighing on its growth momentum. Ian Shan, Chief Financial Officer of JD.com, said during the earnings conference call, in terms of investment in new businesses, JD will further enhance its supply, performance, and service, and bring greater growth potential through the expansion of product categories, customer groups, and regions. Under the code 9618 in the Hong Kong market, JD.com closed at HK$116.9 on Friday, dropping …
First-person shooter game leaves young Chinese players with heavy losses after the collapse of virtual trading market
- 2025-11-10
- Society
- The Young Reporter
- By: Lou Zhengzheng、Lan XinbeiEdited by: WANG Ludan
- 2025-11-10
A developer update to the first-person shooter video game Counter-Strike 2 triggered a collapse in its virtual trading market on Oct 22, wiping out almost US$2 billion in real money. Valve, the American video game developer of Counter-Strike 2, released an update that allowed players to more easily craft rare weapon skins in the game, causing a plunge in the value of skins that are purchased and traded with real-world money. Although the value rebounded in November, it remains below most buyers’ original purchase price. Skins are virtual cosmetic items that change the appearance of weapons without affecting the gameplay. They are categorized by color, ranging from basic white to the rarest gold. The price of gold skins dropped by approximately 30% to 40% on the international third-party game trading platform Buff Market, hitting players who had collected them as virtual investment commodities for future resale and rental. Previously, the gold skins could only be obtained either by unlocking in-game loot boxes containing randomized virtual items such as skins, gloves, and other weapons, or by trading with other players through third-party online marketplaces, including NetEase Buff and Youyou Youpin, which are both platforms that primarily serve Chinese players. John Liu, 20, a mainland Chinese student at Lingnan University in Hong Kong, said he purchased a rare “marble fade” butterfly knife skin for approximately 13,000 yuan (HK$14,201.54) on NetEase Buff because he anticipated later reselling it at a higher price for a profit. After the update, the “marble fade” Butterfly knife’s skin value fell to 5,999 yuan (HK$6,553). “I just gave up on selling after seeing the price hit its lowest point a couple of days ago,” he said. According to data from Buff Market, several virtual items in the game, such as gloves and knives, experienced a price recovery in …
Hong Kong Eco Expo Asia 2025: Cost concerns shadow ESG push as Hong Kong firms seek greener image
- 2025-11-04
- Business
- By: ZHONG Xinyun、CHEN Yongru、LIN XiaoyouEdited by: WANG Ruoshui、BO Chuxuan
- 2025-11-04
The 20th edition of 2025 Eco Expo Asia wrapped up on Friday at Hong Kong AsiaWorld-Expo, with exhibiting firms promoting Environmental, Social, and Governance (ESG) transformation for a better image. Carmen Lau, the assistant marketing manager at ESGreen, an ESG-driven motor tech firm, said that as people pay increasing attention to environmental issues, such as extreme weather conditions, the company will prioritise ESG practices to enhance its brand image. Markus Ho, the sustainability strategies manager of Allied Environmental Consultants Limited, a sustainability and environmental consulting firm, said companies such as real estate developers or those in the financial industry can better promote ESG-related actions when they have extra resources due to their relatively abundant resources. “As a business platform for ESG and sustainable solutions, the Expo will showcase the latest products and technologies in new energy, green living, and environmental protection,” said Jenny Koo, HKTDC Deputy Executive Director, at a press conference in early October ahead of the event. According to a study by Hong Kong Trade Development released this June, the city gained 64.2 points in the ESG Index, with respondents from Mainland China giving the highest rating of 69.1, underscoring the city's reputation as an ESG business hub. The banking and financial services sector had the highest percentage of practitioners engaged in sourcing or providing ESG solutions, followed by the fashion industry and the international trade and manufacturing industries. Cost is one of the challenges companies face when implementing ESG standards. “(The aspect that) is difficult to advance is probably the cost,” said Lau. “It is necessary for that company to invest first, and then there will be profits.” Oscar Chan, the product owner of Green AI Technology Limited, a company that uses AI to track the quantity and weight of recycled items, also highlighted cost concerns. “At …
“Little Bangkok” in Kowloon City finds ways to keep its Thai flavors amid redevelopment
- 2025-10-28
- Society
- The Young Reporter
- By: Lou Zhengzheng、Li ZhongyiEdited by: WANG Ludan、AO Wei Ying Vinci
- 2025-10-28
In the bustling food court on the roof of the Kowloon City Municipal Services Building, the air is filled with the enticing aroma of food from 10 restaurant stalls. Sukulporn Paipha, 59, owner of Chiangrai Thai Food, a 27-year-old eatery, welcomed diners as they entered the cooked food centre. Her daughter served the Thai dishes while her grandson played with toys at a nearby table. This scene is set to disappear with the demolition of the building, which includes a wet market and the cooked food centre, sometime in the next few years under the government’s redevelopment plan for the neighborhood. Around 120 buildings will be demolished, including current public facilities such as the Kowloon City Municipal Services Building and the Kowloon City Lions Clubs Health Centre. According to the Urban Renewal Authority, the redevelopment scheme in the Lung Shing area is divided into three areas, including the replanning of Nga Tsin Wai and Carpenter roads. In July this year, the government reclaimed the land along the two roads, forcing the closure of dozens of businesses. Outside the municipal building, the streets are nearly desolate. Only a few shops remained open, with others busy packing up to relocate. Metal shutters were pulled down for most shops, displaying signs that read “Urban Renewal Authority Property: No Trespass or Unauthorized Entry.” Some simply note “Clearance Sale” or “Relocation Notice” in Chinese nearby. Approximately 140 floor shops across the three sites are affected. During a visit, TYR found that while most are looking for new premises, other businesses that have operated for decades are preparing for permanent closure. “I arrived in Hong Kong when I was just 20, and now at 59, my family has grown deep roots here, three generations in all,” Sukulporn said. “I started with one shop, then opened a …
Hong Kong Autumn Electronics Fair kicks off with Gerontechnology amid Silver Economy Boom
- 2025-10-13
- Business
- By: Yau Ka Ming、LO Shing KwanEdited by: Haoming Zhou
- 2025-10-13
Gerontechnology has taken the spotlight this autumn’s electronic fair on Monday, with multiple innovative elder-friendly products emerging amid the growing local silver economy. “The demand and acceptance (of our products) are both gradually increasing, ”said Richard, a staff member from VCOM, a start-up manufacturer and exhibitor of senior technology products. He added that the company provides corresponding products for both indoor and outdoor use. Virginia Ngai, Sales Manager of Max Care Industrial Ltd, a Hong Kong-based manufacturer of senior technology products, said Hong Kong has a significant elderly population with relatively long life expectancy, adding that the market for age technology products in Hong Kong still has room for growth. The percentage of the population aged 65 or above rose from 20.8% in mid-2022 to 23.9% in mid-2025 and is expected to continue growing in the future, presenting significant market potential, according to the Census and Statistics Department. According to the Consumer Council’s Consumer Survey for the Silver Economy in Hong Kong, the average monthly expenditure (in local currency, excluding housing) for the elderly population aged 60-79 in 2024 stands at HK$7,785. Average monthly spending for affluent and general senior consumers reached HK$13,649 and HK$4,284, respectively. Chloe Siu, Associate Director of the Master of Science in Smart Ageing and Gerontology, Hong Kong Lingnan University, said the elderly group shows a keen interest in medical products, such as intelligent health monitoring devices that track physical indicators and ensure safety, which can meet their needs. “There are now many different platforms where seniors can look for what they need,” said Siu. She added that both offline and online markets now offer a wide range of choices, making it easier for older consumers to find suitable products. She also noted that the purchasing power of individual users of gerontechnology mainly lies with “young …
Hong Kong eyes tech-driven online platform for port community to catch port trade opportunities| LSCM Logistics Summit 2025
- 2025-10-11
- Business
- By: TANG Siqi、CHEN YongruEdited by: WANG Ruoshui、BO Chuxuan
- 2025-10-11
The city’s officials and industry leaders emphasised the Port Community System, an electronic platform to optimise port operations and seize opportunities in the evolving port trade market, at this year’s Logistics Summit on Friday. The PCS, which caught the attention in numerous discussions among industry experts, refers to a digital platform that leverages cutting-edge technology to “provide a comprehensive, real-time cargo tracking function, creating a seamless digital thread that connects sea, land, and air networks,” according to an opening remark speech delivered by Mable Chan, Secretary for Transport and Logistics, on Friday morning. According to government data citing Alphaliner's ranking of the world's top 30 container ports, Hong Kong fell to 11th place in 2023 from 8th place in 2019. Alphaliner’s latest ranking shows Hong Kong dropped further to 13th place in 2024. Kazunori GOTO, the deputy head of the Yusen Logistics Global Management (Hong Kong) Limited, mentioned that many logistics companies today only provide basic transportation services, which fail to meet customers' demands for visibility. GOTO stated that the logistics process involves seven participants, including factories, customs, and end-users, and the complexity of communication between these links often leads to disconnections, resulting in inefficiencies, delays, and information gaps. Kenneth Law, the manager of LSCM, stated that compared to traditional ports, the PCS platform integrates all information on a single platform, which significantly improves information accessibility. Law believes that this system will reduce corporate costs in areas such as IT and cargo tracking, effectively lowering transaction costs and thereby driving the overall development of the port economy. Chan believes that the PCS can directly enhance Hong Kong's competitiveness as an international trade, finance and logistics hub. "By its nature, it is government-run, it is official, so in a way it instils and upholds a high level of confidence in …
Zijin Gold price jumps nearly 70% on Hong Kong debut amid heated gold market
- 2025-09-30
- Business
- The Young Reporter
- By: ZHONG Xinyun、LIN XiaoyouEdited by: ZHAO Runtong、BO Chuxuan
- 2025-09-30
The international unit of a Chinese mining giant has raised almost HK$25 billion (US$3.22 billion), taking the crown as the second-largest Initial Public Offering in Hong Kong, and achieved a robust first-day performance on Tuesday amid a rising gold market. Priced at its IPO price of HK$71.59, Zijin Gold International(Zijin Gold), a subsidiary of Zijin Mining Group Co., Limited(Zijin Mining), saw a 68.5% jump to close at HK$120.6, after opening at HK$111.50 and reaching an intraday high of HK$123. Trading under code 02259, Zijin Gold sold 349 million shares globally during its IPO, with 90% of the shares allocated to international investors. The city’s investors received a 10% allocation of the total, resulting in a 240.7 times oversubscription, according to the firm’s allocation result announced on Monday. The Hang Seng Index added 0.87% to 26,855.56 as of market close. < img src="https://public.flourish.studio/visualisation/25390467/thumbnail" width="100%" alt="chart visualization" /> “In the Hong Kong capital market, pure-play-play gold mining mining listed companies are relatively scarce,” wrote Tang Yan, a risk director of Sunflower Investment, a Shanghai-based asset manager, in a written reply to the reporter. She added that what makes the company an attractive choice this scarcity for investors makes the company an attractive choice seeking gold exposure for investors seeking gold exposure. With a total of 29 cornerstone investors committing HK$12.47 billion (approximately US$1.6 billion), the company received solid support from prominent asset managers and investment giants, including GIC Private Limited, BlackRock, Schroders, UBS AM Singapore, Fidelity Hong Kong, and Millennium Management. The funds raised by the gold miner are primarily planned for the acquisition of the Raygorodok Gold Mine in Kazakhstan and the upgrade and construction of existing mines, accounting for aboutabout 33.4% and 50.1% respectively. Kenny Wen, Executive Committee Member of the Hong Kong Society of Financial Analysts, said that the …
Hong Kong major banks follow Fed rate cut with smaller reduction
- 2025-09-18
- Business
- By: Wang Yunqi、ZHOU Yun、LO Shing KwanEdited by: Yichun Fang、BO Chuxuan
- 2025-09-18
The city’s de facto central bank has cut the benchmark interest rate by 25 basis points for the first time in 9 months, with local stocks ending the day lower. Aligning with the US central bank announcement of a 0.25% interest rate cut to 4% to 4.25% as expected, the Hong Kong Monetary Authority decreased its base rate by the same amount to 4.5% to track US movement, according to its official announcement. HSBC and Hang Seng Bank announced a 12.5 basis point cut to their prime rate, bringing it to 5.125%, effective this Friday. Bank of China (Hong Kong) and Standard Chartered (Hong Kong) followed with the same 12.5 basis point reduction, effective Sep. 22, resulting in new prime rates of 5.125% and 5.375% respectively. Billy Mak, Associate Director of the Centre for Corporate Governance and Financial Policy at Hong Kong Baptist University, said that the market’s expectation of the Federal Reserve cutting interest rates had already been priced into current valuations. “The rise of Hong Kong stocks this week was a direct response of the market to the possible interest rate cut in the United States,” said Mak. Duan Yang, associate director of the Department of Finance, Hong Kong Baptist University, predicted more investment and a boost in the financial market. “In terms of the stock market, lower costs of capital immediately improve stock valuation,” she said. “It will also lead to increased margin trading, increasing trading volume and liquidity in the stock market.” Echoing Duan, Steven Tam, Associate Director of Fulbright Securities Limited, said that the interest rate cut is generally positive for the whole Hong Kong stock market. Among them, utility stocks, property stocks and dividend stocks benefit more. The Hang Seng Index broke through the 27,000-point mark during the morning session and then declined, before …