Business briefs from the Chinese media — Wednesday September 7
Business briefs from the Chinese media — Wednesday September 7
‘China’s Peloton’ applies for IPO again: Keep, China’s largest online sports and fitness platform, has submitted another application for an IPO in Hong Kong, following the expiration of its previous application submitted in February. Keep’s revenue in the first quarter increased by 37.6% year-on-year to 417 million yuan ($59.98 million), and the adjusted net loss decreased by 35% to 155 million yuan ($22.29 million).
Exports and imports are up, but trade growth slowed in August: According to China Customs data, China’s exports in August in dollar terms increased by 7.1% year-on-year, down from a growth rate of 18% in July, and imports increased by 0.3% year-on-year, compared to a growth rate of 2.3% in July.
State Grid is China’s largest company: Yesterday, the China Enterprise Confederation released the 2022 edition of the Top 500 Chinese Enterprises, a list of China’s largest companies. The smallest company on the list, Shengjing Bank 盛京银行, had a capitalization of 44.62 billion yuan ($6.41 billion), and the top three companies were State Grid 国家电网, China National Petroleum Corporation (CNPC) 中国石油天然气集团, and Sinopec 中国石油化工集团.
