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Amid mounting concerns about hefty pricing and valuations that prove hard to sustain, the new economy frenzy has fizzled out. Among the 19 Chinese mainland companies that raised a combined total of HK.1 billion in Hong Kong this year, nine firms traded below their offering prices on the first day of trading. As of Thursday, only five companies managed to stay above their offering prices.
Amazon’s push for faster shipping has re-shaped the retail industry, with many competitors, including Target and Walmart, offering two-day delivery options. With the announcement, Amazon is upping the ante as others have caught up.
Among them, SAIC Motor, GAC Motor, Changan, Dongfeng Motor, all saw disappointing figures in revenue and net profit, with Changan's net profit dropping more than 250 percent in the first quarter.
Amazon’s Echo Dot. (GeekWire Photo / Nat Levy)
Among the examples is Egypt's new administrative capital located east of Cairo, where a Chinese company is working on a central business district project.
