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On August 12th, Tencent Holdings (00700.HK) released its interim results report, showing that in the first half of this year, Tencent repurchased a total of 50.0311 million shares on the Hong Kong Stock Exchange for a total consideration of approximately HK$24.4 billion. All repurchased shares have been cancelled. Tencent stated that the share repurchases aim to enhance shareholder value in the long term.Cheung Kong Infrastructure Holdings Limited (01038.HK): Net profit for the first half of the year was HK$21.252 billion, up 389% year-on-year; net cash holdings at the end of Q2 were HK$33.9 billion.August 12th - According to statistics from the Guangdong Branch of the General Administration of Customs, in the first seven months of this year, Guangdongs foreign trade import and export reached 6.49 trillion yuan, a year-on-year increase of 20.5%, accounting for 21.6% of the national total and contributing 24.9% to the national import and export growth. Guangdongs import and export scale continues to rank first in the country. Specifically, exports reached 3.8 trillion yuan, an increase of 10.8%; imports reached 2.69 trillion yuan, an increase of 37.4%; and the trade surplus was 1.11 trillion yuan, narrowing by 24.5%. Looking at the monthly data, the import and export scale has maintained double-digit growth from January to July this year. In July alone, Guangdongs import and export reached 1.01 trillion yuan, an increase of 19%, maintaining its position above one trillion yuan after breaking the one trillion yuan mark for the first time in June. Specifically, exports reached 582.48 billion yuan, an increase of 7%; and imports reached 423.46 billion yuan, an increase of 40.7%.Tencent Holdings (00700.HK) announced that in the second quarter of 2026, the Group recorded negative free cash flow of RMB13.8 billion. This was due to net cash generated from operating activities of RMB52.7 billion, which was over-offset by capital expenditure payments of RMB59.3 billion, media content payments of RMB5 billion, and lease liability payments of RMB2.2 billion. Our operating cash flow includes substantial AI-related prepayments used to provide infrastructure to support Hy model upgrades, WorkBuddy and CodeBuddy inference needs, WeChat AI initiatives, and the development of AI capabilities for our various products and services, while also meeting the continued growth in demand for our cloud services from external customers. Excluding prepayments for computing power procurement, our free cash flow was RMB37.6 billion.The onshore yuan closed at 6.7456 against the US dollar at 16:30 on August 12, up 1 point from the previous trading day.

Costco Margins Are Impacted by Growing Freight And Labor Expenses, And The Stock Price Falls

Charlie Brooks

May 27, 2022 09:50

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Costco Wholesale Corp (NASDAQ:COST) announced a decline in gross margins on Thursday, impacted by rising freight and labor expenses across the United States. The news sent shares of the membership-only retailer down 2% and overshadowed an otherwise positive quarterly report.


Fresh COVID-19 lockdowns in China and the Russia-Ukraine conflict have compounded the problem for U.S. businesses.


Costco announced that it would increase prices in certain food categories in order to battle inflation.


Retailers such as Walmart (NYSE:WMT) Inc and Target Corp (NYSE:TGT) have warned that decades-high inflation will have a negative impact on their earnings, as shoppers hesitate from purchasing non-essential and high-margin goods.


The average Costco buyer earns more than the average Walmart and Target shopper, allowing Costco to generate quarterly earnings and revenue that easily exceeds expectations.


Memberships and sales have been boosted by the company's efforts to keep gas prices several cents below the national average.


Costco, in contrast to Walmart, reported that there has not been a significant shift from branded products to its private label product, Kirkland Signature.


"We aren't really observing a decline in commerce. This year, more money is being spent on tickets, dining out, travel, tires, and gasoline "In a post-earnings conference call, Robert Nelson, senior vice president of finance and investor relations, said.


Costco's gross margins decreased by 99 basis points in the third quarter.


According to data from Refinitiv IBES, Costco's total sales for the quarter ending May 8 increased by 16 percent to $52.60 billion, surpassing analysts' projections of $51.71 billion.


Excluding adjustments, Costco's earnings per share were $3.17, exceeding analysts' expectations of $3.03.