Markets

Chinese auto influencer Chen Zhen ignited social media controversy after sharing images of a custom Ferrari Purosangue, with netizens alleging veiled criticism of Xiaomi’s SU7 electric sedan. While Chen praised Xiaomi’s product value in follow-up comments, critics interpreted his post as contrasting Ferrari’s heritage with the tech giant’s automotive ambitions. The debate underscores rising tensions in China’s EV sector, where legacy luxury brands collide with tech disruptors. Analysts note influencers’ growing power to shape consumer narratives across industries, as Xiaomi’s “mass-market dream car” faces scrutiny over design and pricing in the $100 billion market.

Journey Energy Inc. (JOY/JRNGF) strengthened its governance at its 2025 AGM, with shareholders approving all resolutions by wide margins. Key outcomes included maintaining a six-member board (85.67% support), director reappointments (79.42%-83.01% approval), KPMG’s auditor retention (97.37%), and adoption of governance modernization measures (82.10%). The re-elected board will prioritize operational continuity, balancing conventional energy production with emissions reduction initiatives. Analysts highlight high approval ratings as a competitive advantage, noting alignment with strategic goals like drilling efficiency and renewable partnerships outlined in the 2025 roadmap.

Silvercorp Metals reported robust fiscal 2025 results with annual revenue up 39% to $298.9 million and adjusted net income of $75.1 million. Q4 revenue surged 76% YoY to $75.1 million, though a $20.6 million derivative charge led to a $7.6 million net loss. The company achieved record-low cash costs ($2.49/oz silver net of byproducts) and doubled cash reserves to $369 million. Key developments include the $181 million Adventus Mining acquisition and $138.6 million operating cash flow funding growth projects. Despite base metals volatility, Silvercorp maintained its dividend streak and strengthened its position in precious/base metals markets.

Hims & Hers Health introduced a six-month Wegovy® subscription at $549/month, a 15% discount on average retail prices, to expand access to prescription weight-loss care. The limited-time offer via telehealth includes consultations, nutritional tools, and progress tracking, leveraging Novo Nordisk’s expanded production. CEO Andrew Dudum emphasized affordability in chronic care, while analysts note the model bridges payer-patient cost gaps. The initiative aligns with a 212% annual rise in metabolic health consultations, reflecting consumer demand for preventive solutions. Promotion runs through June 30, 2025, with eligibility criteria on the company’s platform. Hims & Hers continues offering compounded alternatives and behavioral programs in the $100 billion wellness sector.

Guess?, Inc., WHP Global, and Marcolin announced a four-year eyewear licensing deal for their jointly owned rag & bone label, targeting the $114B global market. Launching Q1 2026, the collection blends urban aesthetics with artisanal craftsmanship, reflecting rag & bone’s ethos of merging heritage tailoring with modern utility. Marcolin, leveraging 30+ years in luxury eyewear, will produce angular, versatile designs aligned with Gen Z’s “quiet luxury” trends. The partnership extends rag & bone’s lifestyle offerings post-2024 acquisition, while Marcolin strengthens its premium portfolio after €545.8M revenue in 2023. Distribution spans 48 boutiques, e-commerce, and select retailers, supported by Marcolin’s AI customization tech.

Fortune Magazine’s 2025 Most Powerful Women in Global Business list recognizes leaders steering multinational firms through AI adoption, supply chain shifts, and geopolitical challenges. GM’s Mary Barra, Accenture’s Julie Sweet, and Citi’s Jane Fraser top the U.S.-dominated ranking (52% of honorees). Notable figures include AMD CEO Lisa Su, advancing AI chip innovation amid U.S.-China trade tensions, and Huawei’s Meng Wanzhou (10th), driving China’s semiconductor self-sufficiency. Chinese executives Joey Wat (Yum China), Bonnie Chan (HKEX), and JD.com’s Xu Ran also feature prominently. The list underscores technology strategy and cross-border agility as critical to modern corporate leadership.

Solis Minerals (ASX: SLM) is advancing a major copper-gold exploration campaign in Peru’s coastal copper belt, launching three key projects: a 2,500m drilling program at Chancho al Palo (targeting porphyry/IOCG systems), permitted 5,000m drilling at Ilo Este by 2025, and an IP survey near Southern Copper’s Toquepala mine. Positioned in a region producing 19% of global copper, Solis benefits from full asset ownership and proximity to infrastructure. Risks include regulatory delays and copper price volatility ($4.50/lb). Peru aims to double copper output by 2030, driven by green tech demand. SLM shares rose 4.3% post-announcement, with A$12.6M working capital supporting operations.

At its 15th-anniversary event in Beijing, Xiaomi unveiled cutting-edge devices, including the flagship Xuánjiè O1 chipset—a 3nm processor with 19 billion transistors and an AnTuTu benchmark exceeding 3 million points. CEO Lei Jun highlighted AI advancements, showcasing a neural processing unit delivering 44 TOPS (18% faster than Apple’s A18 Pro) and features like real-time AI-assisted writing. The launch, spanning the 15S Pro smartphone and Pad 7 Ultra, underscores Xiaomi’s vertical integration strategy to dominate smart ecosystems. Analysts note the chipset’s potential expansion into IoT and automotive markets.

The 21st China (Shenzhen) International Cultural Industries Fair (ICIF) commenced on May 22, 2024, attracting over 6,000 global exhibitors and showcasing 120,000 cultural-tech innovations. A dedicated AI zone highlighted Shenzhen’s leadership, featuring robotics, AR, and interactive installations. Local firm Appotronics demonstrated breakthrough biomimetic projection for robotic facial expressions and a compact AR optical engine optimized for mass production. With China’s core AI industry growing 60% annually to $38 billion in 2023, the event underscores Shenzhen’s pivotal role in merging cultural and technological advancement, driven by supportive policies and cutting-edge R&D.

PPG’s 2024 Sustainability Report highlights progress toward 2030 goals, with 41% of its portfolio now classified as sustainable. Key achievements include an 18% reduction in Scopes 1 & 2 emissions through renewable energy initiatives, a 6% drop in Scope 3 emissions, and 48% of manufacturing waste repurposed. The company’s Italy solar project cuts 390 metric tons of CO₂ annually, while flagship products like ENVIRO-PRIME® EPIC200X reduce client emissions by 3,500 tons yearly. PPG also invested $16.4 million in community revitalization since 2015. Analysts note its strategy aligns with a $12 trillion sustainability-driven market, blending compliance with clean-tech innovation. The report underscores PPG’s role in transforming regulatory challenges into growth opportunities.