Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Trending in China: Outrage Ensues as Updated U.S. Student Visa Policies Force International Students into a Dilemma
Tencent’s PUBG Mobile Game Hits $3 Billion Milestone
Luckin Coffee Shareholders Vote to Remove Chairman, Bloomberg Reports
France Won’t Ban But Will Discourage Use of Huawei 5G Equipment, Official Says
Trending in China: ‘Lipstick King’ Li Jiaqi Settles in Shanghai, Prompting a Rethink of ‘Talent’
Tencent Plays in U.S. With California Game Studio Launch
Trending in China: Shenzhen Thinks Only Children Should Get Paid Leave to Look After Their Parents - Cue Heated Debate
German Drugmaker BI Launches Shanghai Center to Harness Chinese Expertise
Chinese Self-Driving Truck Firm Aims to Cover Most of U.S. by 2024
Trending in China: Chinese Netizens Tell Indian Prime Minister Modi To ‘Shut The Door On The Way Out’ As He Quits Weibo
Trending in China: If You Can’t Beat Them, Join Them – Why Tencent is Laughing At Itself
Meituan Eyes Robot-Enabled Deliveries with $14 Million Investment in PuduTech
India Ban Could Hit TikTok’s Parent Company to the Tune of $6 Billion
Sina Weibo to Issue $750 Million in Bonds
Embattled Leshi Forced to Sell Smart TV, Livestreaming Trademarks and Swiss Cleaning Carmaker Launch Driverless Street Sweeper
Trending in China: How an ‘Old Godmother’ Took on China’s Internet Giant and Won
China’s IT Spending Expected to Hit $297 Billion: IDC
TikTok Moves Data Protection of European Users from U.S. to U.K. and Ireland
Trending in China: Dazed and Confused – China’s Elderly in Online Pandemic World Swings to Profit in Second Quarter, Spurring Shares

By Yuan Ruiyang and Denise Jia / Aug 14, 2019 04:51 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese e-commerce company Inc. reported stronger-than-expected second-quarter earnings, pushing its Nasdaq-listed stock up more than 12% Tuesday afternoon.

The company swung to net income of 618.8 million ($90.1 million), or 0.36 yuan a share in the second quarter ended June 30, from a loss of 2.21 billion a year ago.

The company posted non-GAAP adjusted earnings per share of 2.30 yuan, or $0.33, compared with 0.33 yuan a year ago.

Revenue rose 22.9% to 150.28 billion yuan from 122.29 billion yuan, beating analysts’ expectation of 147.39 billion yuan. Net service revenue grew 42% to 16.8 billion yuan.

For the third quarter, expects revenue between 126 billion yuan and 130 billion yuan, representing 20%-24% growth over a year ago.

The company said its annual active customers increased to 321.3 million in the 12 months ended June 30 from 310.5 million as the end of the first quarter.

Technology and content expenses increased by 34% to 3.7 billion in the second quarter as a result of the company’s continued investment in research talent and technology infrastructure.’s American Depositary Shares jumped $3.38 or 12.44% and recently traded at $30.51.

Share this article
Open WeChat and scan the QR code