Markets

A recent report indicates a decline in the popularity and sales of mechanical parking systems in China since 2020. Developers are losing interest due to user-unfriendly designs, difficulty parking modern wider vehicles, and lack of maintenance leading to damaged or unsafe systems. While policies mandate parking spaces, they don’t require mechanical systems, which are often used by developers solely for compliance. The industry is urged to improve R&D and competitiveness, as user satisfaction with fully automated systems highlights mechanical parking’s potential with better execution.

SINOPEC Engineering Group (SENGF) announced strong H1 2025 results, with revenue up 10.1% to RMB 31.559 billion and net profit increasing 4.8% to RMB 1.388 billion. New contract values reached a record RMB 71.158 billion, a 42.1% YoY increase, driven by an 82.7% surge in overseas contracts. Key projects include the Maoming Refinery Transformation and Hassi Messaoud Refinery in Algeria. An interim dividend of RMB 0.160 per share was declared. The company maintained an industry-leading AA ESG rating.

BRP Inc. invites Boston area residents to an exclusive preview of its 2026 Can-Am and Sea-Doo lineups on August 19, 2025, at the Boston Convention and Exhibition Center. Attendees will get a first look at new on- and off-road vehicles, personal watercraft, pontoons, parts, accessories, and apparel. BRP product experts will also be present. Access is free, but registration is required via the provided form. BRP is a global leader in powersports with brands like Ski-Doo, Sea-Doo, and Can-Am.

Dangdang founder Li Guoqing married Zhang Danhong, a Peking University alumna, on August 16th, 2025. The wedding was attended by prominent figures like Charles Zhang and Michael Yu Minhong. Cui Yongyuan gifted the couple a calligraphy piece. This follows Li’s finalized divorce from Yu Yu in June. Li denied rumors of selling wedding tickets, encouraging donations to rural education instead. He described the wedding as a “retake” on love, with only close family and friends invited.

Ele.me is rebranding its delivery personnel as “City Knights,” investing in enhanced benefits, incentives, welfare, and career development. This includes redesigned uniforms and recognition programs, aiming to professionalize the rider role. The move coincides with significant growth for both Ele.me and Taobao Flash Sales, with a 3.5-fold increase in active riders and a 40% surge in average rider income. Numerous brands across various sectors are leveraging Taobao Flash Sales, leading to substantial transaction volume increases. The “City Knight” initiative seeks to solidify Ele.me’s market position and address worker rights concerns.

Travelzoo launches new Club Offers for Canadian members, featuring curated travel deals. Highlights include a $1499 Japan trip with flights, 50% off Whistler ski-in/ski-out suites, a $1299 Mexico 5-star escape with a $200 credit, a $169 Toronto hotel stay, and a $999 Prague getaway. These deals, vetted by Travelzoo’s experts, offer significant savings. Availability is limited, and travelers can access deals by becoming Travelzoo Club Members.

Tech figure Luo Yonghao claimed Dong Yuhui’s “With Hui Tong Xing” venture generates a yearly income of 2-3 billion yuan and that Dong needed a loan for housing before leaving New Oriental. “With Hui Tong Xing” denied the claims. New Oriental’s stock surged after Dong’s initial success but plummeted after his official departure in July 2024, erasing HK$3 billion in value, amid concerns about New Oriental’s future without his influence. Dong himself has refuted earlier reports placing his annual income near 2.85 billion yuan, calling them rumours.

Laifen’s CEO, Ye Hongxin, publicly criticized a former employee, Pan Jian, on Weibo, alleging biased reviews and unethical conduct. The dispute arose after a tech blogger’s review questioned Laifen’s shaver performance. Ye accused Pan of colluding with internal employees for inflated content collaboration fees and hindering investment. The online discussion also highlights concerns about transparency within China’s influencer marketing and the reliability of third-party product reviews.

Cambricon, a Chinese AI chip company, has received approval from the Shanghai Stock Exchange for a RMB 4 billion private placement. The funds will be used for AI chip and software platform development, particularly for large-scale AI models, and to supplement working capital. Cambricon’s Q1 2025 revenue surged by 4230.22% year-on-year, with net profit also significantly increasing. The company focuses on cloud, edge products, and IP licensing, aiming to build a comprehensive AI ecosystem.

A Morgan Stanley report reveals high profitability in AI inference, with average profit margins exceeding 50% for “AI inference factories.” NVIDIA’s GB200 NVL72 leads with a near 78% profit margin, followed by Google’s TPU v6e pod (74.9%) and AWS’s Trn2 UltraServer (62.5%). Huawei’s Ascend CloudMatrix 384 achieves 47.9%. AMD’s MI300X and MI355X, however, show significant negative profit margins due to insufficient token generation efficiency.