May 08, 2019 11:19 AM PT

Huawei CFO Meng Arrives in Canada Court for Pre-extradition Hearing

VANCOUVER/NEW YORK (Reuters) - Huawei chief financial officer Wanzhou Meng arrived in a Canadian courtroom on Wednesday to begin what is expected to be a long legal battle against the United States' request that she be extradited to face fraud charges.

The pre-extradition hearing is the latest development in a case that has escalated tensions between China and both the United States and Canada.

Meng, 47, the daughter of Huawei Technologies Co Ltd's billionaire founder Ren Zhengfei, was arrested at Vancouver's airport in December on a U.S. warrant and is fighting extradition on fraud charges that she misled global banks about Huawei's relationship with a company operating in Iran.

May 07, 2019 4:54 PM PT

Huawei Canada Executive Leaves Post, Second Departure From Firm in Four Months

OTTAWA (Reuters) - A Huawei Canada executive said on Tuesday he had left his post after less than a year at the company, the second recent high-profile departure from the Chinese telecommunications equipment maker at the heart of a major dispute between Ottawa and Beijing.

The executive, Jake Enwright, said in a brief phone interview that he had quit his job as director of corporate affairs, which he took up early this year. Enwright joined the Canadian arm of Huawei Technologies Co in June 2018 as a spokesman.

Scott Bradley announced in late January that he was leaving as senior vice president of corporate affairs, after more than seven years with the firm. Bradley held a more senior position than Enwright. 

Huawei is under intense scrutiny in the West over its relationship with the Chinese government and U.S.-led allegations that its equipment could be used for spying.

Relations between Ottawa and Beijing turned icy last December when Canadian police detained Meng Wanzhou, Huawei's chief financial officer, on a U.S. warrant. She is due to make her next court appearance in Vancouver on Wednesday.

May 06, 2019 7:20 PM PT

IClick Announces Partnership With Tencent, BTG

Hong Kong-based iClick Interactive Asia Group Ltd. (Nasdaq: ICLK), an online marketing and data technology platform in China, said today that it starts a strategic partnership with BTG WELINK and Tencent Holdings Ltd. The partnership will leverage the digital strengths, data capabilities and payment technologies of the three companies to help BTG establish a new customer relationship management system providing its customers with an array of smart lifestyle O2O solutions.

iClick will apply its upgraded solutions to build a private demand side platform system for BTG in this partnership. Based on Tencent’s big data advertising platform, iClick said it will help BTG develop precision marketing campaigns. BTG’s frontline staff will be equipped with mobile apps that support smart shopping, marketing and member retention by using iClick’s smart retail customer relationship service based on enterprise WeChat system. This system can also help motivate BTG’s staff as brand ambassadors increasing brand awareness and improving sales performance for BTG.

“Our collaboration with BTGW and Tencent will enable us to explore more innovative ways to enhance our data capabilities and online marketing solutions which is what enterprises value the most in this era of lifestyle service O2O.” Jian Tang, co-founder, COO & CTO of iClick, said.

May 03, 2019 3:12 PM PT

Wanda Group's AMC Declares 20-Cent Dividend

AMC Entertainment Holdings Inc. (NYSE: AMC), owned by Beijing-based Wanda Group, today announced that its board of directors has declared a dividend for the first quarter of 20 cents per share.

The dividend is the company's twenty-first consecutive dividend since the initial public offering. It is payable in cash on June 24 to shareholders of record as of June 10.

Founded in 1920, AMC is an American movie theater chain owned and operated by China's Dalian Wanda Group Co. Ltd. After acquiring Odeon Cinemas, UCI Cinemas, and Carmike Cinemas in 2016, it has become the largest movie theater chain in the world with 244 theaters in Europe, over 661 theaters in the United States, and 86 locations in mainland China.

May 03, 2019 7:15 AM PT

Yunji Ready for Wall Street Debut, Priced at $11 Per Share

Yunji Inc., a Chinese membership-based social e-commerce platform, raises $121 million Friday in its initial public offering on the Nasdaq.

Under the ticker symbol “YJ,” the company is offering 11 million shares at $11 each, the low end of the range.

The amount of the offering was reduced from the $200 million Yunji targeted in its March filings.

Underwriting the deal are Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and China International Capital Corporation Hong Kong Securities Ltd. (CICC).

May 02, 2019 8:20 AM PT

Zai Lab Commences Follow-on Offering, Stock Tumbles 7% Early

Shares in Zai Lab Ltd. (Nasdaq: ZLAB) were down more than 7 percent Thursday morning, at $24.20 apiece, as the company launched its follow-on public offering.

The Shanghai-based biopharma company announced earlier this week that it seeks to sell an additional 5 million American depositary shares, with up to 750,000 shares more available for over-allotment. Each ADS represents one ordinary share.

Underwriters on the deal are J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Jefferies LLC, and SVB Leerink LLC.

Apr 29, 2019 10:31 AM PT

OneSmart Announces $50 Million Share Buyback

OneSmart International Education Group Ltd. (NYSE: ONE), which provides K-12 after-school education services in China, said today its board authorized a share repurchase program to repurchase up to $50 million worth of its shares over the next 12 months, subject to market conditions.

The Shanghai-based company said it would fund repurchases from its existing cash balance or future cash generated by operating and financing activities. As of Nov. 30, 2018, the company had cash and cash equivalents of $111.5 million and short-term investments of $107.6 million, it said.

"Following the US$30.0 million share repurchase program approved by the board of directors in October 2018, this share repurchase program reflects the confidence that the Board and management have in OneSmart's future business prospects, operating fundamentals and strategy to further strengthen our leadership position in China's premium education market," said Steve Xi Zhang, chairman and chief executive officer of OneSmart.

Apr 24, 2019 12:09 PM PT

Cango Declares Cash Dividend

Cango, Inc. (NYSE: CANG), an automotive transaction service platform in China, announced today a special cash dividend of 12.5 cents per ordinary share, or 25 cents per American depositary share. The Shanghai-based company said the dividend would be paid on May 28 to shareholders of record as of the close of trading on May 10.

Shares in Cango were at $7.25 per ADS, up nearly 1 percent, in afternoon trading today in New York.

Apr 23, 2019 9:05 AM PT

Capital Requirements for China's Small Lenders Will Be Eased After Quarterly Review

BEIJING (Reuters) - Capital requirements for some small commercial banks in China will be eased after they meet certain criteria in the central bank's quarterly risk review, sources told Reuters on Tuesday.

China's central bank, The People's Bank of China (PBOC), conducts quarterly Macro-Prudential Assessments (MPA) for banks to assess the level of risk in the country's financial system.  

Apr 22, 2019 2:23 PM PT

Future FinTech Receives Listing Warning from Nasdaq

Future FinTech Group Inc. (Nasdaq: FTFT), a financial technology company and integrated producer of fruit-related products, today announced that on April 17, the company received a notification letter from Nasdaq stating the company was not in compliance with listing rules because of its failure to file its annual report by the filing date.

The Nasdaq letter provides the company 60 calendar days from the date of the notification, or until June 17, 2019, to submit a plan. The company said it intends to file by that date.

Apr 19, 2019 3:00 PM PT

Baidu to Report First Quarter Results May 16

Baidu Inc. (Nasdaq: BIDU), China’s top search engine, announced Friday that it will post its financial results for the first quarter through March on May 16.

In a February report, Baidu forecast first quarter revenue between 23.5 billion yuan and 24.7 billion yuan, while analysts had expected 24 billion yuan, according to IBES data from Refinitiv.

Shares in Baidu closed at $171.02 apiece, up 69 cents on the day Thursday before the three-day weekend for New York stock markets.

Apr 16, 2019 3:23 PM PT

Future FinTech Announces Delay in Filing Annual Report

Future FinTech Group Inc. (Nasdaq: FTFT) said today that it would delay filing its Form 10-K beyond the required filing date of April 16 as it needed extra time to complete the financial statements after changing independent auditors.

The company, based in Xi-an, said it expected to file its annual report by the end of May.

Shares in Future FinTech, which a financial technology company and integrated producer of fruit-related products, closed today at $1.55, up nearly 8 percent on the day. After the late announcement, however, the company's stock was trading down more than 3 percent after hours.

Apr 12, 2019 7:54 AM PT

Qudian to Buy Back Shares from Kunlun; Stock Jumps 11%

Shares in Qudian Inc. (NYSE: QD) jumped more than 11 percent Friday morning, to $5.74 apiece, after the company said it will buy back all its shares held by Kunlun Group Ltd.

The Xiamen-based online company, which provides small consumer credit products, has agreed to repurchase nearly 18.2 million of Class A ordinary shares, according to its statement today.

Qudian has not announced the closing date of the transaction. As of Dec. 31, the company reported it had $363.8 million in cash and cash equivalents.

Apr 11, 2019 3:50 PM PT

Niu Technologies Announces Increase in Prices in China

Niu Technologies (Nasdaq: NIU), a top provider of urban e-scooters, said today it was increasing the retail price for certain models in its N, M and U series sold in China. 

The Beijing-based company said the increases would range from 100 to 500 yuan, or about 1 to 5 percent per scooter.  The price increase was effective immediately.

“Price increases are a fact of life, but we work very hard to provide a more engaging and valuable riding experience for our customers," said the company's chief financial officer, Hardy Zhang. "Models being sold now integrate our latest technology, offering better battery performance, better ride performance, advanced rider experience features, and more optimized maintenance regime.  We believe our pricing represents an outstanding value for our customers, who are interested in reflecting a premium lifestyle in their daily transportation experience.”

Apr 09, 2019 1:52 PM PT

EHi Car Services Completes Merger; Shares to Cease Trading

Shanghai-based eHi Car Services Ltd. (NYSE: EHIC), a car rental and car services company in China, announced today that its purchase by Teamsport Bidco Ltd., a subsidiary of Teamsport Parent Ltd., had been completed.

As a result, eHi has ceased to be a publicly traded company at the stock market's close today. The company is now a wholly owned subsidiary of Parent.

Under the terms of the previously announced merger agreement, approved by shareholders on April 8, each Class A common share has the right to receive $6.125 in cash per share. Each American depositary share represents two Class A common shares.

EHi closed today at $12.20 per ADS. 

Apr 04, 2019 3:03 PM PT

Baozun to Offer up to $225 Million in Convertible Senior Notes

Baozun Inc. (Nasdaq: BZUN), a large brand e-commerce service partner in China, said today it planned to offer up to $225 million in convertible senior notes due 2024. The company said it intended to grant the initial purchasers in the offering a 30-day option to purchase up to an additional $50 million in principal amount of the notes.

The Shanghai-based company said it planned to use the proceeds from the offering for working capital and other general corporate purposes, including repayment of outstanding indebtedness and potential future acquisitions.

The notes will be convertible into the company’s American depositary shares, each currently representing three Class A ordinary shares of the company, and would mature on May 1, 2024. 

Shares in Baozun closed down more than 7 percent today to $41.05 per share.

Apr 02, 2019 2:18 PM PT

China Jo-Jo Files for $60 Million Shelf Offering

China Jo-Jo Drugstores Inc. (Nasdaq: CJJD), an online and offline seller of pharmaceutical and other healthcare products in China, filed today to offer up to $60 million of stock, debt, and other securities in the future.

The Hangzhou-based company said in its registration of the shelf offering that the proceeds would be used for general corporate purposes.

Shares in the company closed at $2.82 today in New York, down 2 cents.

Mar 29, 2019 11:31 AM PT

China Rapid Finance Announces New CFO, CTO, and Director of Strategy

China Rapid Finance Ltd. (NYSE: XRF) announced today a series of senior appointments, including a new chief finnancial officer and chief technology officer.

The Shanghai-based fintech company, which facilitates a microcredit consumer finance marketplace, said Steven Foo was named chief financial officer, replacing Lan Xie. Foo has more than 20 years experience, previously serving as CFO of Hebron Technology.

At the same time, Wilson Qin, formerly chief information officer of Noah (China) Holdings Ltd., was named chief technology officer of the company.

Quasi Yao,  previously with Sino-US United MetLife Insurance Company Ltd., also joined the company to serve as director of strategy and operations, overseeing China Rapid Finance's high-level strategic planning and execution.

Shares in the company were up about 1 percent in late-afternoon trading today, at $1.08 per share.

Mar 29, 2019 11:19 AM PT

China Advanced Construction Materials Appoints New Chairman, CEO, and CFO

China Advanced Construction Materials Group Inc. (Nasdaq: CADC) announced today that it appointed a new chief executive and chairman, as well as a new chief financial officer.

Beijing-based CADC, which makes construction materials for large scale infrastructure, commercial, and residential developments, said Yang (Sean) Liu would take over as chief executive officer and chairman of the board, succeeding Xianfu Han. Lili Jiang was named as the company's new chief financial officer and a director, succeeding Weili He.

Shares in CADC were trading down more than 13 percent in afternoon trading today in New York at $2.86 per share.

Mar 28, 2019 2:06 PM PT

Hexindai Issues $20 million Three-year Senior Unsecured Note

Hexindai Inc. (Nasdaq: HX), an online consumer lending marketplace in China, said today it issued a $29 million senior unsecured note to Majik Fund SPC, a company managed by a subsidiary of Yunfeng Financial Group Ltd. (HKEX: 0376).

The note, due 2022, bears a fixed interest rate of 12 percent per year with semi-annual payments, the Beijing-based company said. Yunfeng is a financial technology group, providing investing and financing services for individual and institutional investors.                                                      

"I'm pleased to issue this Note to Majik Fund SPC which I believe demonstrates their confidence in the future prospects of our business and the industry," said Xinming Zhou, chief executive officer of Hexindai. "With our business gradually improving despite a difficult market environment, we will use the proceeds as working capital to continue growing our platform and diversify our revenue streams to drive future growth and strengthen our position in the industry."

Shares in Hexindai closed today at $2.95, up 1 percent.

Mar 26, 2019 4:20 PM PT

iQIYI Announces Proposed Offering of $1.05 Billion Convertible Senior Notes

iQIYI, Inc. (Nasdaq: IQ), an innovative market-leading online entertainment service in China, today announced the proposed offering $1.05 billion in aggregate principal amount of convertible senior notes due 2025. 

The company intends to grant the initial purchasers in the notes offering a 13-day option to purchase up to an additional $150 million in principal amount of the notes. The company plans to use part of the net proceeds from the notes offering to pay the costs of the capped call transactions described below, and use the remainder of the proceeds to expand and enhance its content offerings, to strengthen its technologies, and for working capital and other general corporate purposes.

Mar 11, 2019 11:56 AM PT

Fanhua Sets Up 25 Cent Dividend for Fourth Quarter

Shares in Fanhua Inc. (Nasdaq: FANH) rose 33 cents Monday afternoon to $23.63 apiece after the company, a Guangzhou-based financial services provider, declared a quarterly dividend of 25 cents per American depositary share.

The company said in a statement today that the fourth quarter dividend will be payable on Apr. 3 to shareholders of record as of Mar. 21.

“The Board and management remain optimistic about the growth prospects of the life insurance market in China and Fanhua,” the company’s chairman and chief executive officer, Chunlin Wang, said. “Therefore, we believe that the Company’s stocks represent an attractive investment in the long run.”

Fanhua has yet to report its financial results for the final quarter of 2018.

Mar 08, 2019 8:11 AM PT

Tencent Music Stock Down 5% After Copyright Management Change

The stock of Tencent Music Entertainment Group (NYSE: TME) was trading down 5 percent early Friday, at $17.07 per American depositary share, on news that its vice president, Andy Wai Lam Ng, is withdrawing from his copyright management post today “for personal reasons.”

The music arm of the Chinese conglomerate Tencent Holdings Ltd. (HKEX: 0700) said in a statement that Ng will continue as a senior consultant to advise on strategic copyright partnerships. Tsai Chun Pan, a vice president in charge of the department for music services for smart devices, is taking Ng’s former position.

“We are confident that in their new roles, Tsai Chun and Andy will be able to leverage their extensive experience in the Chinese music entertainment business, forge new alliances with our content partners, augment our copyright protection initiatives, and facilitate the healthy growth of the domestic music entertainment industry," Tencent Music’s chief executive, Cussion Kar Shun Pang, stated.

Feb 28, 2019 5:10 PM PT

MSCI to Quadruple Weighting of China A-shares

NEW YORK/SHANGAI (Reuters) - Global index provider MSCI will quadruple the weighting of Chinese mainland shares in its global benchmarks later this year, it said on Thursday, potentially drawing more than $80 billion of fresh foreign inflows to the world's second-biggest economy.

MSCI also announced that it will add Chinese mid-cap stocks to its emerging market benchmark in November, boosting the number of Chinese constituents.

In a statement on its website, MSCI said it will increase the inclusion factor of Chinese large-cap stocks to 20 percent from the current 5 percent in two steps, in May 2019 and in August. As a result, the weighting of Chinese stocks in the MSCI Emerging Market Index will jump to 3.3 percent, from roughly 0.7 percent currently.

The announcement could add fuel to a stock market that has jumped over 20 percent this year, partly on hopes that Beijing and Washington will soon reach a deal to resolve their trade dispute.

After implementation, the MSCI Emerging Markets Index will include 253 large-cap and 168 mid-cap China A-shares, representing a weight of 3.3 percent in the pro-forma index.

Feb 28, 2019 10:51 AM PT

Gridsum Announces Equity Investment

BEIJING, Feb. 28, 2019 /PRNewswire/ --

Gridsum Holding Inc. (Nasdaq: GSUM), which provides cloud-based analytics and artificial intelligence solutions, said today that it entered into a share subscription agreement with unidentified equity investment firms, which have agreed to invest about $11.1 million into the company. The Beijing-based company said the investment would occur through the sale of 3.46 million newly issued Class B ordinary shares priced at $3.20 per share. Gridsum, which provides big-data analytics and AI solutions for multinational enterprises and government agencies in China, was selling for $3.84 per share, up nearly 1 percent, in mid-afternoon trading in New York.

Feb 27, 2019 5:22 PM PT

China February Factory Activity Shrinks for Third Straight Month

BEIJING (Reuters) - Factory activity in China shrank for the third straight month in February, with its official manufacturing gauge falling to a three-year low, highlighting deepening cracks in an economy facing persistently weak demand at home and abroad.

The official Purchasing Manager's Index (PMI) fell to 49.2 in February, data showed on Thursday, the weakest level since February 2016. The 50-point index mark separates expansion from contraction on a monthly basis.

Analysts surveyed by Reuters had forecast the PMI to come in at 49.5, unchanged from January.

Economic growth in China cooled to its weakest in almost three decades in 2018, and analysts expect a further softening in coming months before stimulus measures start to kick in. Many fear a sharper slowdown in the world's second-biggest economy if current Sino-U.S. trade talks fail and the dispute escalates.

Feb 27, 2019 7:19 AM PT

Pharma Provider 111 Inc. Hires Former CFO of iKang, Now Private

Pharma retailer 111 Inc. (Nasdaq: YI) announced Wednesday that it has brought onboard a new chief financial officer, Yang Chen, who has just left the same position at iKang Healthcare Group Inc., a Chinese private preventive healthcare company.

Biography Photo

Yang Chen, new CFO at 111 Inc.

(Source: iKang)

Previously, Chen served as vice president of finance and strategy at Campbell Soup Asia Limited and Lee Kum Kee Sauce Group and held various senior roles with Dumex China, PepsiCo Greater China Region, and Wyeth China. 

“Yang has extensive leadership experience in financial management, strategy, and capital markets, which makes him a great addition to the team as we continue to drive forward and execute our mission of building the largest integrated online and offline healthcare platform in China powered by technology,” the chairman and chief executive officer of 111, Junling Liu, said in a statement today.

Shares in 111 were trading down 3 cents early Wednesday, at $8.72 per American depositary share.

IKang, formerly listed on the Nasdaq under the symbol “KANG,” closed its going-private deal in January by merging with IK Healthcare Merger Ltd. in accordance to its plan announced in March 2018.

Feb 19, 2019 3:36 PM PT

Wanda Group's AMC Entertainment Declares Dividend

AMC Entertainment Holdings Inc. (NYSE: AMC), which is controlled by the Wanda Group in Beijing, announced today it declared a dividend for the quarter ended Dec. 31 of 20 cents per share on shares of Class A and Class B common stock. The dividend is payable in cash on March 25, 2019, to shareholders of record on March 11, 2019.

Feb 19, 2019 12:37 PM PT

Trump Says March 1 Deadline for China Trade Talks Not "Magical" Date

WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday that trade talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations, saying March 1 was not a "magical" date.

Tariffs on $200 billion worth of Chinese imports are scheduled to rise to 25 percent from 10 percent by March 1 if the world's two largest economies do not settle their trade dispute, but Trump has suggested several times that he would be open to postponing the deadline.

"They are very complex talks. They're going very well," Trump told reporters in the Oval Office. "I can't tell you exactly about timing, but the date is not a magical date. A lot of things can happen."

Trump said the real question would be whether the United States would raise the tariffs as planned.

"I know that China would like not for that to happen, so I think they're trying to move fast so that doesn’t happen."

On Tuesday, the United States and China launched a new round of talks in Washington, with follow-up sessions later in the week. The negotiations followed a week of talks in Beijing that ended last week without a deal but which officials said had yielded progress on some key issues.

Feb 15, 2019 3:59 PM PT

Secoo Announces Michele Sofisti as the Strategic Advisor for Luxury Watch and Jewelry Business

Secoo Group (Nasdaq: SECO) today announced that Mr. Michele Sofisti joins Secoo as the strategic advisor for Secoo's luxury watch and jewelry business. His joining will further enrich Secoo's luxury watch and jewelry categories and enhance the leading positioning of Secoo in China as a luxury e-commerce platform.

Feb 14, 2019 11:55 PM PT

Cango Inc. Announces Changes to Board of Directors

Cango Inc. (NYSE: CANG), an automotive transaction service platform in China, today announced that Mr. Zuyu Tan and Mr. Weibiao Zhanhave tendered their resignations as directors of the company's board of directors for personal reasons. Their resignations were effective as of February 14, 2019. 

Feb 12, 2019 11:11 AM PT

Vipshop to Announce Fourth Quarter and Full Year 2018 Financial Results

Vipshop Holdings Ltd. (NYSE: VIPS), an online discount retailer for brands in China, today announced that it plans to release its fourth quarter and full year 2018 financial results on Wednesday, February 20, 2019 after market close. 

Feb 12, 2019 8:25 AM PT

Jianpu Technology to Report Fourth Quarter Results on February 25

Jianpu Technology Inc. (NYSE: JT), a peer-to-peer lending platform in China, today announced that it will report its fourth quarter and fiscal year 2018 unaudited financial results, on Monday, February 25, 2019, before the open of U.S. markets.

Feb 05, 2019 7:35 AM PT

Best Inc. Gets New Ticker Symbol on the NYSE; Stock Rises 6%

Shares in Best Inc. (NYSE: BSTI) jumped 6 percent in early trading Tuesday after the company announced that it will change its ticker symbol on the New York Stock Exchange to “BEST,” effective Feb. 19.

“We are excited to be able to align our NYSE ticker symbol with the 'BEST' brand name which provides us with better visibility and consistent recognition with public investors and across all our stakeholders,” the company’s chairman and chief executive, Johnny Chou, said in a statement.

Best, a logistics solutions provider based in Hangzhou, said no action is needed from shareholders and its CUSIP will remain unchanged.

The stock of Best was trading at $5.04 per American depositary share in the morning, up 30 cents.

Feb 01, 2019 3:18 PM PT

Kandi Technologies Announces Resignation of CFO

Kandi Technologies Group Inc. (Nasdaq: KNDI), said today that its chief financial officer, Mei Bing, had resigned from the company  and was replaced by Zhu Xiaoying as interim CFO as of Jan. 29. The Jinhua-based company, which is developing electric vehicles, said the resignation was for "personal reasons." In addition, Kandi said the board also  appointed Wang Yuanyao as Vice President of Finance, effective February 1.

Previous to her appointment, Zhu was in the financial management industry for over 20 years with "extensive experience in the financial management of publicly traded companies," the company said. From October 2003 to June 2007, Zhu was the Chief Financial Officer of Zhejiang Kandi Vehicle Co. Ltd. She previously served as Kandi's CFO from June 2007 to April 2015. For the past four years, she was back at Zhejiang Kandi Vehicle as its CFO.

Jan 30, 2019 9:56 AM PT

China's Didi Chuxing Considering Layoffs

(Reuters) - Senior managers at Chinese ride-hailing company Didi Chuxing are looking at cutting headcount at some departments by up to 20 percent, the Information reported on Wednesday, citing a source.

The layoffs will take place mostly in support services like marketing and human resources, the technology news website said, adding that a final decision is not yet made. The company employs over 10,000 people globally.

Didi said it had no comment on the report.

Jan 29, 2019 2:20 PM PT

Apple Sees U.S.-China Tensions Easing, Services Business Growing

(Reuters) - Apple Inc said sales for its fiscal second quarter would most likely be lower than Wall Street expected, a signal that it continues to face weak demand for its iPhone, especially in China, the world's biggest smartphone market.

However, Chief Executive Tim Cook, who is in regular contact with U.S. President Donald Trump, told Reuters he sees some hope that trade tensions between the United States and China have eased.

He also made upbeat comments about Apple's fast-growing services business and said the company is considering pricing its phones in local currency in China and other international markets, which may spur sales.

Apple shares rose 2.5 percent to $158.55 in after-hours trading.

Jan 29, 2019 11:59 AM PT

Canada 'Some Ways Off' on Decision Over Whether to Ban Huawei 5G

OTTAWA (Reuters) - A Canadian government decision on whether to ban Huawei Technologies Co Ltd from supplying equipment to 5G networks is "some ways off into the future yet", a top official said on Tuesday.

The comments by Public Safety Minister Ralph Goodale to reporters were the most specific indication yet from Ottawa on the timing of a politically sensitive announcement.

Officials are studying the security implications of 5G networks, the latest generation of cellular mobile communications. Some Canadian allies have already imposed restrictions on Huawei equipment, citing the risk of espionage.

"It's some way off into the future yet ... it's certainly beyond weeks," Goodale said when asked about the timing.

Canada and China are involved in a separate diplomatic dispute over the arrest of Huawei Chief Financial Officer Meng Wanzhou last month in Vancouver on a U.S. arrest warrant.

Jan 29, 2019 10:50 AM PT

China Regulator Approves New Game by Tencent

BEIJING (Reuters) - China regulator on Tuesday green lit a new game published by Tencent Holdings Ltd. in its fifth batch of approvals since December, when the watchdog resumed giving out licences after a freeze for most of last year.

Tencent's "Romantic Rose Garden" is among 95 games that have been approved, the regulator, China's State Administration of Press, Publication, Radio, Film and Television, said on Tuesday.

Jan 28, 2019 12:23 PM PT

UPDATE: U.S. Expected to Announce Criminal Charges Related to China's Huawei

WASHINGTON (Reuters) - The U.S. Justice Department is expected to announce criminal charges related to Chinese telecommunications firm Huawei Technologies Co. Ltd. on Monday, four sources told Reuters.

The U.S. government has been expected to announce charges against Meng Wanzhou, Huawei's chief financial officer, as part of an effort to extradite her from Canada.

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