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☆ A 6-month Chinese-food festival is bringing authentic and flavor-packed cuisine to New York City's masses
▼ + stars: | 2024-04-22 | by ( Xintian Tina Wang | ) www.businessinsider.com time to read: +10 min

At New York's Dragon Festival, authentic Chinese brands and restaurants excite locals' taste buds. Its founder shared some of her favorite vendors of soup dumplings and candies at the opening event. "This doesn't taste like home," said Xu, a 31-year-old entrepreneur and the creator of New York City's Dragon Festival, the biggest Chinese-food festival in the metropolitan area. Jessie YuChen for BIChen said that confectioners in her home province of Fujian, China, caught her attention when she was younger. In 2006, inspired by the soup dumplings made popular by Shanghai's Nanxiang district, Ma opened his first New York City storefront.

Persons: —, Xu, Jessie YuChen, she's, Mila, Tang Hulu, I'm, Bu Tong, Ivy Chen, Dragon Lulu, Chen, Vivian Cao, confectioners, Emperor Guangzong, Michael Ma, Xiang Xiao Long Bao, Nan Xiang Xiao Long Bao, Ma, Nan, bartenders, Coco, Xibei Yang Organizations: Service, Park, Dragon, Prospect, lollipop, Michelin, Chi Forest, Haidilao, BI Locations: New York, SoHo, Chinatown, Flushing, York City, Koreatown, Union, Chelsea, Washington, Kwa, Henan, Queens, Prospect Park , Brooklyn, Beijing, Fujian, China, Shanghai, York, Nanxiang, New York City, Jiangsu, Zhejiang, Chi, Thai, Bangkok, Sichuan, Manhattan

☆ Chinese hot pot chain Haidilao puts viral dance on menu
▼ + stars: | 2023-12-01 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —What is better than a warming meal of hot pot? A catchy dance routine to go with the Chinese cuisine, according to hot pot chain Haidilao. Haidilao, China’s largest hot pot chain, has recently offered a new dance performance as part of the dining experience across its 1,400 branches. It all started with a comment on a local Chinese online forum. And since hot pot is considered a communal experience, the restaurants sometimes offer plush toys as companions for solo diners.

Persons: ”, “, Haidilao, ” Haidilao Organizations: Hong Kong CNN, Jimu, CNN, Staff Locations: Hong Kong, Guangxi, Weibo, Britain

☆ Bubble tea will test limits of China’s consumers
▼ + stars: | 2023-08-08 | by ( Thomas Shum | ) www.reuters.com time to read: +3 min

HONG KONG, Aug 8 (Reuters Breakingviews) - Bubble tea may be the new bellwether for the Chinese consumer. At least half a dozen boba-drink makers, including China’s largest chain by store count, Mixue Bingcheng, are planning initial public offerings in Hong Kong or the United States, Bloomberg reports. Shares in Hong Kong-listed Nayuki (2150.HK), the country’s only publicly traded bubble tea chain, have dropped 70% since their debut in 2021. Follow @t__shum on TwitterCONTEXT NEWSAt least six bubble tea companies are looking to go public in either Hong Kong or the United States, Bloomberg reported on July 24 citing people familiar with the matter. In 2022, China’s biggest bubble tea chain by store count, Mixue Bingcheng, filed for a $918 million initial public offering in Shenzhen.

Persons: Mixue, Gen, Mixue Bingcheng, Robyn Mak, Katrina Hamlin, Pranav Kiran Organizations: Reuters, Bloomberg, HK, KFC, Haidilao, Refinitiv, Thomson Locations: HONG KONG, Hong Kong, United States, Beijing, China, Shenzhen

☆ These global and U.S. stocks are set to soar further after a strong first half, analysts say
▼ + stars: | 2023-07-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Among global stocks, Japan was the top performer, with shares up over 16% year-to-date at the mid-year, according to data compiled by Julius Baer, while European stocks gained 7.47%. All of the stocks have a buy rating from at least 60% of analysts covering them. They are also well-loved by analysts, with a more-than 70% buy rating and over 30% potential upside. Baidu also appears on CNBC Pro's screen, with 32% potential upside and a 74% buy rating. Super Hi, the international operator of the wildly popular Chinese hotpot chain Haidilao, also has among the highest potential upside at 51%.

Persons: Julius Baer, Buffett, Morgan Stanley, bullish Organizations: CNBC Pro, Chrysler, Baidu, CNBC, Warner Bros Discovery, MGM Resorts, Caesars Entertainment Locations: Japan, China, Swiss

☆ Consumers in China are dining at nicer restaurants — even if it costs $500 a person
▼ + stars: | 2023-05-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Despite the Covid-19 pandemic, a brand called Lu Style opened four new restaurants in the last three years in Beijing and Shanghai. Since Lu Style launched in 2016, more people no longer focus on just being able to eat, said Tian Junfeng, director of operations. Tian said Lu Style will be focused on improving customer service in the coming months. The 2023 rankings selected 304 restaurants — most of which were in China, including Lu Style. Two Lu Style locations have one Michelin star each, and the France-based guide includes more than 400 restaurants in mainland China.

HONG KONG, April 17 (Reuters Breakingviews) - Hong Kong could use a shot of something. Yet compared to the $313 billion Shanghai-listed behemoth Kweichow Moutai (600519.SS), debutante ZJLD is a drop in the near-$100 billion baijiu industry: it logs less than 1% market share. At the top of the marketed price range, ZJLD could be worth $5.4 billion, or almost 24 times this year's forecast earnings, IFR reports. Revenue at the company, which will be the first baijiu distiller to list in Hong Kong, was up a healthy 15% last year, while its adjusted net profit margin topped 20%. For Hong Kong, consumer stocks will put the focus back onto classic risks.

☆ From hotpot to bubble tea, BOFA says China may be seeing signs of consumption recovery
▼ + stars: | 2023-04-12 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Signs of recovery may be emerging in China's luxury and consumer discretionary goods sectors, said an analyst from Bank of America, even as China released data showing consumer inflation at an 18-month low. "In terms of luxury high-end [consumption] — we're seeing quite strong recovery," said the bank's chief China equity strategist Winnie Wu. "On the lower end, the bubble tea, the Shabu Shabu, those hotpots — we're seeing good recovery." China's luxury market fell 10% in 2022, declining for the first time in five years, according to Bain & Company. Wu, however, maintained that a good overall recovery across China's consumer sector has yet to be seen.

☆ Chinese top hotpot chain's overseas unit sees profit this year
▼ + stars: | 2023-03-31 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

SINGAPORE, March 31 (Reuters) - The overseas unit of China's biggest hotpot chain Haidilao expects to return to profit this year, after posting almost 80% year-on-year growth in revenue for 2022 late on Thursday. Haidilao International Holding's (6862.HK) overseas unit, Super Hi International Holding (9658.HK), posted revenue of $558.2 million and a net loss of $41.3 million for 2022, compared with a loss of $150.8 million in 2021. Overall, we are satisfied with our performance in 2022, and optimistic with this year," Zhou Zhaocheng, 50, CEO of Haidilao's overseas unit told Reuters in an interview. The pace of opening new stores overseas this year would be similar to last year, when 17 new stores were added, Zhou said. Haidilao International Holding carved out its overseas units to form Super Hi International Holding and listed it in Hong Kong in December.

SINGAPORE, Jan 31, (Reuters) - Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family's wealth. His family might establish a Singapore family office to manage its wealth in the future, he added. Well-known Singapore family offices include those set up by James Dyson of vacuum cleaner fame, hedge fund manager Ray Dalio and Zhang Yong, founder of China's Haidilao hotpot restaurant chain. Though fresher statistics are not available, those involved in the industry said interest in family offices picked up in 2022 and is expected to continue unabated this year. While some are setting up family offices, others are setting up business headquarters in Singapore or investing in funds domiciled in Singapore, she said.

☆ Want to cash in on China's reopening? Bank of America and UBS have some less obvious stock picks
▼ + stars: | 2023-01-26 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

China's unwinding of its strict Covid-19 controls has got analysts scrambling to identify reopening beneficiaries in the stock market. But there could be another way to play the reopening, with Bank of America and UBS having identified a raft of less obvious beneficiaries outside of China. UBS' stock picks Thai hospitality group Minor International is one of UBS' top picks. Within Thailand, UBS also named rail transit operator BTS Group, expressway and metro operator Bangkok Expressway & Metro, as well as Bangkok Bank as reopening beneficiaries. Student placement provider IDP Education, as well as property groups Lendlease Group and Mirvac Group also made the UBS list.

☆ Five Chinese startups that survived a tough year of Covid lockdowns
▼ + stars: | 2023-01-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — In a year of Covid lockdowns and travel restrictions, some Chinese startups that survived found growth online and overseas. The startup avoided significant impact from China's Covid lockdowns since it could deliver its products virtually, Jiang said. The company aggressively pushed overseas in 2022 – launching subsidiaries in Tokyo, Seoul, Germany, Dubai, Los Angeles and Hong Kong, Wan said. Previously, Wan said that Keenon had seen revenue at least double or more every year from a lower base, when the China market was growing. The company has a staff of 100 people in the southern Chinese province of Guangdong and Los Angeles, Lin said.

In sparse comments on workplace conditions, however, national health officials have urged that high-risk areas should be much more narrowly defined, while production or business operations continue elsewhere. As he stockpiles medicines against such an eventuality, he has told staff to follow new guidelines to stay home if they got infected, in which case he plans to pay them half their wages. To avoid disruption from any infections, Yang initially considered shutting the factory early ahead of the Lunar New Year, but ultimately set aside that option. In Beijing, some state firms and banks are grouping staff into teams to ensure work continues despite any outbreak, sources told Reuters. "I am confident it will be a mess for about 3 months," saidthe firm's executive vice president, Renaud Anjoran.

☆ Morgan Stanley upgrades China stocks as global investors cheer on Covid reopening hopes
▼ + stars: | 2022-12-05 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN Business —Global traders are increasingly feeling more bullish on China, as they bet the country will gradually unwind Covid restrictions following widespread protests. Starting Monday, Shanghai residents will no longer require a negative Covid test result to enter outdoor venues including parks and scenic attractions. “Multiple positive developments alongside a clear path set towards reopening warrant an upgrade and index target increases for China,” its analysts said in a research note on Monday. MSCI China, an index tracking major Chinese stocks available to global investors, will hit the 70 level by the end of 2023, according to Morgan Stanley. The offshore yuan, a key gauge of how international investors think about China, strengthened sharply against the US dollar on Monday.

☆ Global investors cheer on China reopening hopes
▼ + stars: | 2022-12-05 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Shares of Chinese companies listed in Hong Kong jumped on Friday, after U.S. officials wrapped up a crucial audit inspection in the city and a transcript circulated on social media suggesting China was considering reversing its strict coronavirus policies. The Hang Seng Index closed the day more than 5% higher after Chinese stocks in a variety of sectors saw heavy buying. Tech giant Alibaba Group Holding Ltd., vehicle maker Geely Automobile Holdings Ltd. and restaurant chain Haidilao International Holding Ltd. were all up by double-digits in percentage terms. China’s CSI 300 index ended the day up 3.3% and the Shanghai Composite Index was 2.4% higher.

☆ New money is pouring into Singapore, but a series of recent multimillion-dollar real-estate transactions show the old status symbols are as popular as ever
▼ + stars: | 2022-10-07 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Good Class Bungalows, or GCBs, are powerful status symbols for old and new money alike in Singapore. With land this scarce, the most elite level of property on the island is the Good Class Bungalow, or GCB. New money, old status symbolWith new money pouring into Singapore, a series of recent multimillion-dollar real-estate transactions show these old status symbols are as popular as ever. And in 2019, British billionaire inventor James Dyson purchased an SG$50 million bungalow opposite Singapore's Botanic Gardens, per the Straits Times. Moreover, some prospective Good Class Bungalow renters are not even living in these properties.

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