Markets

Fortune China’s 2025 China 500 list reveals State Grid as the revenue leader at $548.4 billion, followed by PetroChina and Sinopec. ICBC is the most profitable. The top ten most profitable include TSMC, Tencent, Alibaba, and Ping An. Tencent’s net profit surged over 65% in 2024. These ten companies accounted for 41% of the total profits of all listed companies.

Alfa Laval’s Q2 2025 earnings reveal a mixed performance. Order intake fell 14% YoY, but organic growth in net sales increased by 2%. Adjusted EBITA rose 2% to SEK 3.0 billion, with a margin of 17.8%. EPS increased to SEK 4.87. Cash flow from operating activities decreased. The company finalized the acquisition of Fives’ cryogenic business. Management anticipates slightly higher demand in Q3.

A Bilibili content creator, Tangzhu Lee, completed the “Saitama Workout” from *One-Punch Man* for 1,000 consecutive days, documenting his journey to nearly 800,000 subscribers. The workout consists of 100 push-ups, sit-ups, squats, and a 10km run daily. On the final day, Lee completed a 100km run followed by 1,000 repetitions of each exercise. The feat garnered attention from the manga’s original creators and significant online buzz, highlighting the influence of fandom and viral challenges.

CAICT’s AI Institute launched security benchmark testing for code-generating LLMs, assessing risks and capabilities using a dataset of 15,000+ test cases across nine languages and various attack methods. The initial assessment of 15 Chinese models (3B-671B parameters) revealed varied security levels, with most exhibiting medium risk. Models showed weaknesses in scenarios involving malicious intent, highlighting vulnerabilities to cyberattacks. CAICT plans to expand testing to international models and develop mitigation tools, aiming to promote a secure LLM ecosystem.

Investor Duan Yongping maintains that long-term investments in strong companies like Kweichow Moutai and Tencent are superior to bank deposits. While acknowledging China Shenhua Energy as potentially better than a bank, he emphasizes Tencent’s higher potential. Duan warns that outperforming bank returns is significant, as most lose money in the stock market. He cites Moutai’s brand strength and Tencent’s ecosystem as drivers of sustained value, contrasting them with the vulnerability of bank interest rates to macroeconomic changes and inflation, while also acknowledging inherent market risks.

Regal Rexnord (RRX) declared a $0.35 quarterly dividend, payable October 14, 2025, to shareholders of record on September 30, maintaining a payout streak since 1961. The company, with 30,000 employees globally, focuses on sustainable solutions for powering, transmitting, and controlling motion across diverse sectors like automation, food & beverage, aerospace, medical tech, and energy. Regal Rexnord operates through three segments and emphasizes long-term growth potential through its diversified portfolio.

JD.com is entering the food delivery market, addressing consumer concerns about safety and hygiene by partnering exclusively with established restaurants. They’ve launched “Seven Fresh Kitchen,” a delivery-focused concept, and plan to establish 10,000 locations in three years. JD.com is investing heavily in its supply chain and a “Recipe Partner” program to ensure quality. Their strategy includes rigorous quality checks, hygiene protocols, and 24/7 kitchen livestreams, emphasizing safe and delicious meals.

Power bank manufacturer Romoss is facing a severe financial crisis following a recent product incident, with estimated monthly losses of 100-200 million yuan. Reports indicate a significantly reduced workforce, large amounts of idle inventory, and employee/supplier protests outside the Shenzhen headquarters. Senior management is reportedly “disappeared” and core executives allegedly fled to Malaysia. Romoss issued a work stoppage notice, claiming after-sales services would continue, but these claims are disputed. The company’s legal representative has changed multiple times recently, raising governance concerns.

Grupo Aeroportuario del Pacifico (NYSE: PAC) reported strong Q2 2025 results with a 49.9% revenue surge to Ps. 10.9 billion, driven by 26.4% and 41.8% increases in aeronautical and non-aeronautical services respectively. Passenger traffic rose 4.1% to 15.9 million. EBITDA increased 31.1% to Ps. 5.5 billion, with a 67.1% margin. Comprehensive income decreased 22.8% to Ps. 2.2 billion due to currency translation. PAC refinanced debt, securing a Ps. 3.4 billion credit facility.

During heavy rain, an Air India Airbus A320 (flight AI2744 from Kochi) veered off the runway at Mumbai Airport, leading to the temporary closure of the affected runway. All passengers and crew deplaned safely. The aircraft sustained damage, including engine intake damage and burst tires. A secondary runway is in use. This incident follows a recent fatal crash involving Air India and precedes a planned EASA investigation into Air India Express, amid concerns about engine maintenance and falsified safety records.