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The company’s stock fell to HK$97.55 during morning trading, marking its steepest intraday decline in two months. Investors reacted to indications that Beijing could intensify scrutiny of online marketplaces, potentially increasing compliance costs for Alibaba and its competitors.

China’s State Administration for Market Regulation disclosed on Wednesday that it had convened a meeting in Beijing with representatives of leading digital commerce businesses to discuss improving product standards, strengthening consumer safeguards and addressing shortcomings in platform governance.

Shares of JD. com dropped approximately 4.7%, while Kuaishou declined more than 4%. Other technology companies, including Tencent, Meituan, Xiaomi and NetEase, also suffered losses as selling spread across the sector.

Hong Kong’s Hang Seng Index declined nearly 3%, touching a three-month low, while the Hang Seng Tech Index dropped more than 4%, reaching its weakest level since September 2024. The technology benchmark has lost more than 30% this year.

The regulatory announcement focused on persistent problems involving counterfeit merchandise, misleading advertising and products failing to match descriptions provided by online sellers. Authorities identified livestream shopping, instant retail services and social commerce as areas where product safety risks have become increasingly complex.

The regulator said platforms must strengthen their responsibilities as gatekeepers, establish comprehensive quality management systems and improve supervision throughout commercial supply chains. Companies were instructed to align their practices with existing regulatory guidance and the government’s 2026 quality improvement priorities.

Officials also emphasised greater transparency, improved aftersales services and more effective mechanisms for resolving consumer complaints. The measures seek to strengthen accountability among platform operators without necessarily introducing an entirely new regulatory framework.

Representatives from Alibaba’s Taobao and Tmall businesses attended the meeting alongside JD. com, Pinduoduo, Xiaohongshu, Kuaishou, Douyin, Vipshop and other online trading platforms.

The gathering followed guidance issued last year by ten government departments, including the market regulator, the Cyberspace Administration of China and the Ministry of Industry and Information Technology, concerning product and service standards across digital marketplaces.

Authorities acknowledged that companies had implemented improvements under those guidelines but said substantial challenges remained. Emerging business models were creating additional difficulties for regulators attempting to identify unsafe products, deceptive marketing and inadequate consumer safeguards.

For Alibaba, the renewed regulatory emphasis directly affects its domestic commerce operations, particularly Taobao and Tmall, which connect merchants with consumers across China’s vast online retail market.

Stricter monitoring requirements could oblige marketplace operators to devote additional resources to merchant verification, product inspections, complaint handling and supply chain oversight. The financial implications will depend on how existing requirements are implemented and enforced.

The announcement did not disclose fresh financial penalties against Alibaba or establish a timetable for additional enforcement measures. The market reaction therefore reflected concerns about possible regulatory consequences rather than confirmation of sanctions against the company.

Broader investor caution compounded the selling pressure. Mainland investors had reduced their exposure to Hong Kong equities during the preceding trading session, while technology valuations remained under pressure amid questions surrounding substantial expenditure on artificial intelligence infrastructure.

Alibaba has committed significant capital to expanding its computing capacity and artificial intelligence operations, making investor assessments of profitability and spending particularly important alongside regulatory developments.

The company completed an HK$80 billion share placement in August, allocating approximately 60% of net proceeds towards expanding global computing infrastructure and the remainder towards hyperscale artificial intelligence data centres and upgrades to cloud systems.

That financing underlined Alibaba’s commitment to technological investment even as its established ecommerce businesses face heightened expectations concerning operational standards and consumer safeguards.

The regulator also encouraged companies to use commercial data to improve product quality among suppliers, linking information gathered through online transactions with manufacturing improvements and better supply chain coordination.

Another proposal involved developing and publishing platform quality governance indices, intended to provide consumers with clearer information about standards maintained by different marketplaces.

Officials urged participating companies to strengthen cooperation with regulators and other stakeholders while making information about products and services more transparent.

The meeting included discussions of the ISO 9001 quality management framework and methods for businesses to assess their own governance arrangements. Platform representatives exchanged views on implementing quality improvements and addressing weaknesses identified by the authorities across online trading activities.

By Jag Mohan Thaken CHANDIGARH: Drug issue has boiled up the political and social atmosphere in the state of Punjab. Seeing the assembly elections on the head, all political parties are trying to get the waves in their own favour and targeting each other for the current deteriorated condition due to root level web of […]

The article Drug Issue Is Now A Potential Electoral Weapon Of BJP In Punjab Before 2027 State Polls appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Intergenerational Care: The Earlier the Eye Protection, The Better – “When Vision Fades, It’s Already Too Late”

Eyes are the windows to the soul, and good vision is key to maintaining quality of life and dignity for seniors. Clear vision allows everyone to live life to the fullest. Yet, many local seniors dismiss deteriorating vision as an inevitable sign of aging and choose to endure it. As early-stage eye diseases are often painless and asymptomatic, by the time seniors experience noticeable blurriness or vision impairment, they have often missed the golden window for effective treatment.

On World Sight Day, the message from organizers was clear: caring for aging eyes is a shared family responsibility. Through twin themes of “Intergenerational Care” and “Early Screening, Early Control,” they called on younger generations to accompany their elderly loved ones on the journey to better vision. Eye care should never be put off until problems arise. A gentle word of concern, a thoughtful reminder, or simply offering to accompany parents to an eye exam could be the very thing that catches a silent disease early and protects seniors’ clarity, confidence, and quality of life.

Three Key Program Highlights: From Interactive Sensory Games to In-Depth Eye Screening

The full-day event offered a comprehensive eye care experience:

• Interactive Sensory Games: Featured 5 interactive eye care booths (including AR eye disease simulation and Braille challenges), allowing residents and young caregivers to experience visual challenges faced by seniors firsthand while learning eye care knowledge.
• Professional Medical Seminars: 3 specialized seminars hosted by HKOS specialist ophthalmologists unraveled “silent vision thieves” like cataracts, glaucoma, and macular degeneration in accessible terms, attracting over 500 seniors and caregivers.
• In-Depth Eye Screening: On-site HKOS specialist ophthalmologists provided free Optical Coherence Tomography (OCT) scans and diagnostic consultations to 120 underprivileged seniors from the Southern District, issuing specialist referral letters to cases requiring further medical follow-up.

Quotes from Officiating Guests

Ms. Sandy CHEUNG, JP, District Officer (Southern)

“The Southern District Office has always been committed to bringing together government, charitable organizations, and community forces to serve residents. We are delighted to coordinate the Southern District Care Team, partnering with Orbis and the Hong Kong Ophthalmological Society to bring top-tier eye care resources directly to Wah Kwai Estate for free screenings for local seniors. The Care Team will continue to leverage its community network to care for the physical and mental well-being of the elderly.”

Ms. Kathleen SHERWIN, President & Chief Executive Officer of Orbis International

“For over 40 years, Orbis has firmly believed that cross-sector collaboration is key to preventing and treating avoidable blindness. Hong Kong has always been a vital global hub for Orbis. As a centerpiece of Orbis’s World Sight Day community initiatives, this event aims to promote ‘Intergenerational Care’ and encourage the younger generation to actively care for their elders’ eye health.”

Prof. YAM Cheuk Sing, Jason, President of Hong Kong Ophthalmological Society

“Common elderly eye conditions such as cataracts, glaucoma, and macular degeneration often develop silently in their early stages. By the time seniors notice blurred vision, irreversible vision damage may already have occurred. HKOS is honored to mobilize specialist ophthalmologists into the community to conduct screenings, putting the medical philosophy of ‘Early Screening, Early Control’ into practice.”

Ms. HUI Sze Man, Orbis “Sight Ambassador” & Senior Artiste

“Having had cataract surgery myself, I was fortunate that my habit of regular eye checkups allowed me to recover my vision completely post-surgery! My five grandchildren are always caring for my eyes. I strongly urge fellow seniors not to endure vision problems silently, and encourage the younger generation to show more care by taking their elders for regular eye checkups!”

Cross-Sector Unity to Achieve “Early Screening, Early Control”

The event featured a simple yet solemn kick-off ceremony. Officiating guests affixed colorful “E” chart props onto a giant eye chart backdrop, symbolizing the four-party partnership across government, medical, charitable, and district sectors, uniting to restore clear vision to Southern District seniors. This was followed by a mass photo op with over a hundred seniors and family members holding eye care props and chanting slogans in a warm, enthusiastic atmosphere.

Photo Captions

Photo 1 (Joint Kick-off Ceremony): Ms. Kathleen SHERWIN, President & CEO of Orbis International (right 3); Ms. Sandy CHEUNG, JP, District Officer (Southern) (left 3); Prof. YAM Cheuk Sing, Jason, President of HKOS (right 1); Ms. LAM Yuk-chin, BBS, MH, Representative of the Southern District Care Team (left 2); Ms. Mary LAU, Executive Director of Orbis Hong Kong (right 2); and Ms. HUI Sze Man, Orbis “Sight Ambassador” (left 1) officiate the “World Sight Day Senior Eye Care Action” launch ceremony by placing colorful “E” props on a giant eye chart.

Photo 2 (Mass Intergenerational Group Photo): Officiating guests pose with nearly 160 Southern District seniors, residents, and family members, holding eye care props and calling for “Early Screening, Early Control” and promoting “Intergenerational Care”.

Photo 3 (Free Specialist Eye Screening): HKOS specialist ophthalmologists provide free comprehensive consultations and OCT scan evaluations for underprivileged seniors in Wah Kwai Estate.

Photo 4 (Sight Ambassador Experience): Orbis “Sight Ambassador” Ms. HUI undergoes a professional eye checkup on-site and shares her story of overcoming cataracts to encourage seniors not to endure eye issues silently.

Photo 5 (Community Eye Care Booths and Seminars): The event featured AR eye disease simulation booths and medical seminars to help residents experience patient perspectives and deepen community eye health education.

Hashtag: #Orbis

The issuer is solely responsible for the content of this announcement.

Industry Giants Gather in Ningde to Jointly Accelerate the Layout of the “Tesson Smart Power” Ecosystem

HONG KONG SAR – Media OutReach Newswire – 19 October 2026 – Tesson Holdings Limited (Stock Code: 01201.HK, hereinafter referred to as “Tesson Holdings”), a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, today issued an official announcement stating that its direct wholly-owned subsidiary has entered into an agreement with CCPOM Limited to acquire 100% equity interest in Contemporary Huazhi New Energy Technology Hong Kong Limited (hereinafter referred to as “Contemporary Huazhi (Hong Kong)”) for RMB 98.4 million, with a simultaneous capital injection of RMB 21.6 million (representing a total consideration of RMB 120 million).

On the same day, the “Solar-Storage-Charging-Inspection & Intelligent Zero-Carbon” Innovation Seminar and Strategic Signing Ceremony, co-hosted by Times Huazhi (时代华智) and Tesson Holdings, was grandly held at Fujian Jixin Solar-Storage-Charging-Inspection Technology Co., Ltd. (福建集新光储充检技术有限公司) in Overseas Chinese Building, Ningde, Fujian (福建宁德华侨大厦). At the seminar, Mr. Huang Shilin, Co-founder of Contemporary Amperex Technology Co., Limited (hereinafter referred to as “CATL”) and Chairman of Fujian Jixin Solar-Storage-Charging-Inspection Technology Co., Ltd. (福建集新光储充检技术有限公司) delivered a keynote speech. He conducted an in-depth analysis of the industry trends regarding the integrated development of new energy and intelligent charging/inspection, which drew enthusiastic responses from the attendees.

The signing ceremony brought together many distinguished guests. Under the joint witness of officiating guests including Mr. Huang Shilin, Professor Yu Changyuan from The Hong Kong Polytechnic University, and Mr. Wei Qingwen, representative of the major shareholder of Tesson Holdings, Tesson Holdings and Times Huazhi (时代华智) officially completed the agreement signing. At the same time, Tesson Holdings joined forces with Times Huazhi (时代华智), Inspur Group, EV Power, Wanji International (万吉国际), and several other industry-leading enterprises as well as top research institutions to sign multiple Memoranda of Understanding (MOUs) for strategic cooperation. This marks a breakthrough achievement for Tesson Holdings in platform-based operations of smart power and new energy infrastructure layout since the launch of its new brand “Tesson Smart Power” in August this year.

Dual Strategy of Acquisition and Capital Injection: Anchoring the Innovative Track of “Solar-Storage-Charging-Inspection and Intelligent Zero-Carbon”

According to the announcement, RMB 38.4 million of the total consideration for this transaction will be paid in cash. The remaining acquisition consideration of RMB 60.0 million will be satisfied and completed by issuing consideration shares at HK$2.00 per share, while the simultaneous capital injection of RMB 21.6 million will be paid and completed as consideration for the subscription shares.

As a pioneer enterprise in the field of intelligent zero-carbon park operations for solar-storage-charging-inspection systems, Times Huazhi (时代华智) has successfully deployed multiple solar-storage-charging-inspection and zero-carbon park projects in core cities such as Shanghai and Fuzhou. Upon completion of this acquisition and capital injection, Tesson Holdings will directly incorporate high-quality new energy infrastructure assets, further enhancing the company’s operational capabilities and asset scale in high-power fast charging, energy storage, and zero-carbon microgrids.

Signing of Three Major MOUs: Building a Closed-Loop Chain of “Computing-Power Synergy + Energy-Carbon + Industry-Academia-Research”

At the signing ceremony held on the same day, Tesson Holdings and Times Huazhi (时代华智), together with several industrial partners, reached four deep strategic collaborations:

• 1. Computing-Power Synergy and Joint Innovation (AIDC): Partnered with Inspur Group and Micro-Gathering Power Sale (微聚售电) to jointly explore the integration model of AI Data Center infrastructure (AIDC) with new power sales and Virtual Power Plants (VPP).
• 2. Hong Kong Layout and Collaborative Innovation for Solar-Storage-Charging-Inspection: Partnered with EV Power, a leading EV charging operator in Hong Kong, and Wanji International (万吉国际), a green logistics operator, while introducing the 5D Power team from The University of Hong Kong and the HYBAY team from The Hong Kong University of Science and Technology, to jointly create demonstration projects for solar-storage-charging-inspection and green logistics in Hong Kong.
• 3. Joint Construction of International Innovation Design Center (Hong Kong & Fujian): Partnered with Fuzhou University Design & Research Institute (福州大学设计研究院), Gesuo Technology (格索科技), and Anlaseo (a spin-off enterprise from The Hong Kong Polytechnic University) to promote the engineering applications of achievements such as smart energy replenishment stations for solar-storage-charging-inspection.

Energy-Carbon Asset Securitization Strategic Upgrading: Continuously Advancing Intelligent Zero-Carbon Transformation

Tesson Holdings and Times Huazhi (时代华智) deepened their cooperation by leveraging the advantages of the global industrial chain ecosystem resources of CATL to jointly explore the strategic collaborations implementation and innovative industrial upgrading of securitization for energy-carbon assets in new power track of solar-storage-charging-inspection.

Management of Tesson Holdings stated that the completion of this acquisition and multi-party strategic cooperation marks a crucial step for the company toward becoming an “Innovative Operator in Smart Power and Energy-Carbon”. Looking ahead, Tesson Holdings will rely on its development roadmap of “Battery Manufacturing — Zero-Carbon Microgrid & Energy Storage Operations — AI Power Trading & Energy-Carbon Asset Platform”, and fully utilize the strong support and resource empowerment from strategic shareholder Mr. Huang Shilin, Co-founder of CATL. The company will continue to deepen its green energy network layout in the Greater Bay Area and core cities, creating long-term value for urban low-carbon transformation.

Hashtag: #TessonHoldings

The issuer is solely responsible for the content of this announcement.

About Tesson Holdings Limited (1201.HK)

Tesson Holdings Limited (Stock Code: 01201.HK) is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, focusing on (among other things) the deep integration of the new energy industry chain. Its strategic positioning includes being an innovative operator in smart power and energy-carbon. Centering on “Smart Power Source + Smart Electricity”, the company comprehensively expands into energy storage, solar-storage-charging-inspection, zero-carbon microgrids, AI energy management, and energy-carbon asset operations, striving to connect global high-quality industrial and capital resources to empower the high-quality development of the new energy ecosystem.

China’s gross domestic product grew 4.5% year on year during July to September, exceeding economists’ forecast of 4.4% and accelerating from 4.3% in the preceding quarter, according to the National Bureau of Statistics.

Bitcoin briefly climbed towards $82,500 as cryptocurrency traders responded to the stronger economic figures and improving conditions in traditional financial markets. Nasdaq futures also advanced, reflecting renewed demand for technology shares following a difficult period for companies associated with artificial intelligence.

The market recovery was uneven, however. South Korea’s Kospi faced selling pressure after an initial improvement, highlighting continuing concerns about technology valuations and the substantial financing requirements of artificial intelligence development.

US Nasdaq futures gained approximately 1% during Asian trading, while contracts tracking the broader S&P 500 advanced around 0.7%. Lower energy prices provided additional support as investors assessed their implications for inflation, corporate earnings and borrowing costs.

China’s economic figures offered a measure of reassurance about activity in the world’s second-largest economy. Quarterly output increased 1.2% from the preceding three months, exceeding expectations for a 1.1% expansion and improving from 0.9% growth during April to June.

The stronger performance was supported by exports and industrial production, although weaknesses in household consumption and property investment continued to complicate the economic outlook.

Official figures showed industrial production increasing 5.5% year on year in September, compared with 5.2% in August. Retail sales grew 1.1%, indicating modest improvement in consumer spending despite persistent pressure on household confidence.

China’s government has established an annual economic growth target of approximately 4.5% to 5%, making the third-quarter performance significant for policymakers considering whether further stimulus measures are necessary.

Growth during the first nine months reached 4.6%, according to official estimates, keeping the economy within reach of the government’s full-year objective.

Financial markets nevertheless remained sensitive to concerns that China’s expansion depends heavily on exports and industrial investment rather than sustained improvements in domestic demand.

The property sector remained a particular concern, with investment continuing to contract despite measures intended to support homebuyers and stabilise developers.

Oil markets supplied another important influence on trading. Brent crude futures declined approximately 1.7% to $107.95 a barrel, while US crude futures slipped 0.8% to $100.62.

The decline followed developments surrounding Washington’s sanctions policy towards Russia. President Donald Trump indicated that restrictions could be eased, potentially allowing additional Russian energy supplies into international markets, although the administration had not finalised its position.

US Secretary of State Marco Rubio indicated that the administration could take up to 60 days to assess the economic consequences of changing sanctions arrangements.

Lower crude prices helped ease immediate concerns about inflation, particularly because energy costs influence transport, manufacturing and household expenditure across major economies.

US government bonds strengthened as yields declined. The benchmark 10-year Treasury yield fell approximately four basis points to 5.0525%, providing some relief to financial markets concerned about elevated borrowing costs.

Expectations surrounding Federal Reserve policy remained important for cryptocurrency investors. Lower inflation could eventually create additional room for monetary easing, although policymakers face competing pressures from energy markets and economic activity.

The Federal Reserve’s benchmark interest rate currently stands between 4.75% and 5%, with financial markets expecting policymakers to leave borrowing costs unchanged at their next meeting.

Across Asian equities, the initial advance reflected bargain hunting following substantial losses in technology stocks. Japan’s Nikkei and South Korea’s Kospi both experienced volatile trading as investors reassessed exposure to semiconductor manufacturers.

Concerns about artificial intelligence spending remained prominent. Goldman Sachs estimates that five major technology companies could increase their combined capital expenditure to approximately $1.2 trillion next year, raising questions about investment returns.

China’s currency strengthened against the dollar, with the yuan reaching approximately 6.6828, its strongest level since July 2022.

Gold traded around $4,181 an ounce, supported by declining bond yields, while the dollar remained under pressure against several currencies.

Elsewhere, European equity futures weakened amid political uncertainty in France, demonstrating the differing regional influences on international investment flows.

Chinese blue-chip shares edged lower after initially benefiting from the economic figures, with investors continuing to assess whether stronger industrial activity would translate into a sustained improvement in domestic consumption.

Under the theme “A Season of World-Class Landscapes,” the new season focuses on the development of the Greater Zhangjiajie International Tourism Area. Host Wang Han leads the program’s food exploration team through Zhangjiajie, Cili, Jishou, Fenghuang, Changde, Shaoyang and Huaihua, presenting a cultural tourism journey that connects local cuisine with spectacular landscapes and the stories of the people who call these places home.

Connecting Landscapes Through Food

The opening episode takes viewers to Zhangjiajie, beginning with the towering Bailong Elevator before following the hiking trails along Golden Whip Stream. International tourists encountered along the way share that Zhangjiajie was their planned first stop in China. Zhangjiajie welcomes more than one million international visitors annually from over 190 countries.

Yet the destination’s international appeal extends beyond its extraordinary scenery. It also lies in the flavors nurtured by the land and the people whose lives are rooted in it.

In Longweiba Village, young entrepreneurs who have returned to their hometowns are rediscovering local ingredients such as kudzu root and vine tea, incorporating them into coffee and bingfen, a traditional chilled jelly dessert. Their creations bring new life to familiar mountain flavors and introduce them to younger generations.

In Cili, local cuisine reveals stories passed down through generations. The dish known as Yanghe Dumi carries a history of mutual support dating back to 1935. After receiving help from their neighbors during difficult times, local residents cut pork tripe into rice-sized pieces to prepare a dish that could be shared among more people. The recipe became a lasting reminder of community solidarity.

The team also visits a centuries-old tree associated with the Red Army and samples Xikou beef. Revolutionary commanders He Long and Xiao Ke once held a pre-battle mobilization meeting at the site. The ancient tree, which survived a lightning strike, embodies the resilience of the local community, a quality echoed in the firm, chewy texture of Xikou beef. Together, the stories and flavors reveal the enduring spirit of the mountains.

Discovering the People Behind the Flavors

At Jixiang Rice Noodle Shop in Jishou, owner Wang Jixiang has been running her business for 35 years. The shop serves four varieties of rice noodles with a selection of toppings. Among them, rice noodles topped with stir-fried pork and fermented chili offer a distinctive combination of sour and spicy flavors characteristic of western Hunan.

The journey continues along the Wanrong River and across Xinnü Bridge, adorned with wish plaques, before reaching the creative home of the Miao folk band Miao Ren San Man.

The band members moved from their mountain village to town to support their children’s education and earn a living by running a business, but they never abandoned their musical aspirations. Performing their original song Calling to the Mountains in a Miao village, they express a longing to reach a mountaintop together and release their deepest frustrations through a collective shout.

In Fenghuang, restaurant owner Xiao Yang offers another example of how local culinary traditions are finding new audiences. After leaving military service, he worked as a tour guide and discovered that many visitors knew little about Fenghuang’s distinctive local cuisine.

He subsequently introduced Miao-style smoked pork trotters in sour soup, a specialty of the La’ershan area, to a wider market, making modest adjustments to suit broader tastes while preserving its traditional character.

Wang Han also shares the history of Miao sour soup, which he learned about when first tasting the dish. During the migrations of their ancestors, the Miao people often faced shortages of supplies, including salt. They fermented green vegetables and relied on sour flavors for seasoning. Over time, sour soup became a culinary reminder of those journeys.

Today, the distinctive fermented flavor continues to evolve as it is paired with an increasingly diverse range of ingredients. Rather than remaining unchanged, traditional recipes continue to thrive through new interpretations, connecting generations of people to the land and its history.

Connecting Local Journeys with the World

One distinctive feature of the fourth season is the introduction of a food-tasting panel at each destination, bringing together local residents, visitors from other regions and international guests.

After sampling the dishes, panel members vote to select the “Hunan Flavor Signature Dishes.”

Among the selected specialties are claypot rice with farm-raised Chinese giant salamander and Tujia-style Sangun Wawa from Zhangjiajie; Xikou beef and Lao Sizhong rice noodles from Cili; and Fangyuan rice noodles and smoked pork trotters in sour soup from Fenghuang.

This interactive format demonstrates how people from different cultural backgrounds can experience and interpret the same dish in their own ways.

The towering sandstone peaks of Zhangjiajie, the Loushui River in Cili, the Wanrong River in Jishou, and the Tuojiang River, Hongqiao Bridge and traditional stilt houses of Fenghuang together form the scenic landscape of the Greater Zhangjiajie International Tourism Area.

Meanwhile, rice noodles, cured meats, sour soup and distinctive local delicacies bring warmth, flavor and everyday life to these natural and cultural landscapes.

About Season 4 of Go Where Flavors of Hunan Abound

Under the theme “A Season of World-Class Landscapes,” Season 4 of Go Where Flavors of Hunan Abound focuses on the Greater Zhangjiajie International Tourism Area and adopts a two-episode format for each destination.

The first episode, focusing on rural and mountain flavors, takes viewers hiking, exploring lesser-known destinations and participating in local challenges while visiting ordinary households to discover traditional home-cooked dishes.

The second episode explores the culinary life of urban neighborhoods, visiting long-established restaurants, discovering local food traditions and featuring signature dishes prepared by experienced chefs.

Landscapes provide the setting, while local flavors bring the stories to life. By bringing together China’s distinctive natural scenery and authentic regional cuisine, Go Where Flavors of Hunan Abound presents the Greater Zhangjiajie International Tourism Area to international audiences as a vibrant destination rich in culture, character and culinary heritage.

The issuer is solely responsible for the content of this announcement.

The proposed arrangement would require unanimous approval from participating lenders and could facilitate a rights issue intended to strengthen the heavily indebted company’s finances, according to people familiar with the private negotiations.

New World is considering repaying approximately 10% of the loan principal as part of the extension, with a target of completing the arrangement before January. That would represent roughly HK$8.8 billion in repayments, although the proposed terms remain subject to negotiations.

Discussions are at an early stage, and the conditions could change before any agreement is reached. There is no certainty that the banks will approve the extension or that the company will proceed with a subsequent equity fundraising.

The negotiations follow months of efforts by the Cheng family, New World’s controlling shareholder, to develop a financial support package for the property group. A potential rights issue or share placement could be announced as early as November, provided the necessary arrangements are finalised.

A rights issue would allow existing shareholders to purchase additional shares, usually in proportion to their holdings. Such a transaction could provide fresh capital without immediately increasing the company’s borrowing, although shareholders declining to participate would face dilution.

The proposed loan extension concerns financing arranged in 2025 through one of Hong Kong’s largest corporate refinancing transactions. That agreement followed prolonged negotiations with creditors as New World sought to avert a potential default and manage substantial repayment obligations.

Under the earlier restructuring, lenders agreed to extend the maturity of approximately HK$63.4 billion in borrowings originally due in 2025 and 2026 by three years. Loans maturing from 2027 onwards retained their original repayment dates, subject to additional credit protection and collateral requirements.

A further two-year extension would give the developer additional time to manage repayments while pursuing equity financing and asset disposals. The precise maturity schedule and interest terms of any revised arrangement have not been publicly established.

New World’s latest financial disclosures underline the importance of securing lender support. Total debt stood at approximately HK$143.3 billion at the end of June 2026, down HK$2.7 billion from the previous financial year.

Net debt nevertheless increased by HK$6.2 billion to HK$126.3 billion, while the company’s net gearing ratio rose to 68.3% from 58.1%. The figures indicate that its balance sheet remains under pressure despite efforts to reduce gross borrowings.

The group reported approximately HK$17 billion in cash and bank balances and HK$15.8 billion in undrawn banking facilities at the financial year-end, giving it total capital resources of about HK$33 billion.

Those resources provide liquidity for operations and financial commitments, but they are considerably smaller than the outstanding debt burden. Access to banking facilities also remains subject to their contractual conditions.

New World’s annual revenue declined to approximately HK$20 billion from HK$27.7 billion a year earlier. However, core operating profit increased to HK$7.7 billion from approximately HK$6 billion, reflecting an improvement in underlying operating performance.

The company reported HK$2.23 billion in net profit from recurring operations, compared with a HK$1.23 billion loss in the preceding year. Gross financing costs fell 15% to HK$6.3 billion.

Its board decided against paying a final dividend for the financial year ended June 30, preserving resources as management continued its financial restructuring programme.

Alongside discussions with banks, New World has pursued exchanges of outstanding securities to lengthen its repayment profile. On October 14, the company indicated that it expected to issue approximately $189.1 million in new secured notes maturing in 2032 following the early results of a debt exchange offer.

The developer has also been restructuring property commitments. At the end of September, it announced arrangements to surrender its operating rights for the 11 SKIES commercial development near Hong Kong International Airport.

The agreement involves a HK$2.3 billion termination payment to the Airport Authority and additional works and services obligations, with the latter subject to a specified cost ceiling.

For the financial year ended June, New World recorded approximately HK$29.6 billion in attributable contracted sales from property developments and asset disposals. Hong Kong accounted for approximately HK$22.1 billion, with mainland China contributing the remaining sales.

The company also reduced capital expenditure by 6% to HK$11.8 billion during the financial year.

The Nifty IT index climbed 11.7% during the week ended Friday, October 16, its biggest weekly advance since 2008. Meanwhile, an MSCI index tracking global semiconductor companies had fallen approximately 7.4% during the week, putting software exporters on course for their widest relative outperformance since 2004.

The divergence reflects a significant change in investor sentiment towards technology businesses. Semiconductor manufacturers, previously among the biggest beneficiaries of enthusiasm surrounding artificial intelligence, have faced selling pressure amid concerns about infrastructure spending, financing costs and the sustainability of earnings growth.

Software services companies, meanwhile, have attracted renewed interest following quarterly results that suggested corporate technology expenditure was stabilising. Investors have also responded to comparatively modest valuations after a prolonged period of weakness in the sector.

HCL Technologies helped initiate the recovery after reporting stronger quarterly performance and raising its full-year revenue growth guidance. Its shares surged 8.4% on Tuesday, their biggest single-session advance in more than six years, while the broader technology index gained 5.2%.

The company reported quarterly net profit of approximately Rs51.32 billion, representing growth of 10.9%. Revenue increased 2.3% sequentially to Rs356.2 billion, supported partly by demand for engineering and research services.

HCL Technologies also disclosed advanced artificial intelligence revenue of $219 million, indicating that established outsourcing companies are beginning to generate identifiable income from technology that investors had previously viewed principally as a competitive threat.

Tech Mahindra reinforced the positive sentiment with quarterly revenue growth of 2.4%, reaching approximately Rs161.8 billion. Net profit rose 8.3% to Rs16.1 billion, supported by improvements in its communications business.

Wipro shares also advanced after the company reported quarterly revenue of Rs247.53 billion, exceeding market expectations. However, its deal bookings declined 45% from a year earlier to $2.6 billion, highlighting continued uncertainty surrounding demand for outsourcing contracts.

Wipro projected constant-currency revenue growth ranging from a decline of 1.5% to an increase of 0.5% for the following quarter. Management indicated that two delayed large contracts could be finalised, although their completion remains uncertain.

The contrasting figures illustrate why analysts remain cautious about treating the market recovery as evidence of a sustained improvement across the entire technology services industry.

Investors have nevertheless become increasingly sensitive to the valuation differences between software exporters and semiconductor manufacturers. Shares linked to artificial intelligence infrastructure had commanded substantial premiums based on expectations of expanding demand for processors, memory and computing capacity.

Those assumptions have come under pressure as investors question whether technology companies can generate sufficient returns from enormous commitments to data centres and related infrastructure.

Higher bond yields have compounded those concerns by increasing financing costs for capital-intensive businesses. Inflation pressures in the United States have also revived expectations that monetary policy could remain restrictive, reducing enthusiasm for highly valued growth stocks.

Semiconductor companies including Nvidia, Broadcom and Advanced Micro Devices have faced broader selling pressure, alongside memory manufacturers and businesses supplying artificial intelligence infrastructure.

However, the reversal does not necessarily indicate deteriorating demand for computing hardware. Analysts distinguish between concerns about share valuations and the underlying commercial requirements for advanced processors.

Software exporters face different challenges. Generative artificial intelligence could automate programming, testing and customer support functions, potentially reducing the labour-intensive contracts underpinning traditional outsourcing revenues.

At the same time, businesses adopting artificial intelligence require integration, cybersecurity, cloud management and technology consulting services, creating opportunities for established providers.

The balance between these competing forces remains important for revenue forecasts and profitability expectations.

Friday’s trading demonstrated the strength of the rotation. The Nifty IT index rose 3.9% to close around 31,924 points, while the broader Nifty 50 gained approximately 0.7% to 23,146.

The Sensex finished at 74,729, contributing to the benchmark indices’ strongest weekly performance in six months.

Despite the rebound, technology shares remain below their earlier peaks. Wipro had lost nearly 32% during the year before Friday’s close, compared with a decline of approximately 17% for the broader technology index before the week’s recovery.

Japan’s foreign ministry confirmed on Thursday that the initial project would cost approximately $10 billion, with construction scheduled to begin before the end of 2026. Expansion of production facilities could eventually raise the total investment to about $21 billion, although the second factory remains conditional.

The agreement forms part of a $550 billion Japanese investment commitment negotiated with President Donald Trump’s administration in 2025, alongside a reduction in American tariffs on Japanese vehicles and other imports to 15 per cent.

GlobalFoundries said the first manufacturing plant at its existing Malta campus would begin production in 2029. An additional investment of approximately $10 billion would finance a second facility, with a decision on that expansion expected before the end of 2028.

Japan will supply the investment capital, while GlobalFoundries will provide manufacturing technology, technical expertise and operational management. The factories will be jointly owned by American and Japanese interests under an arrangement intended to expand semiconductor output without requiring the company to finance construction itself.

The first plant is expected to produce approximately 900,000 silicon wafers measuring 300 millimetres annually when fully operational. A second plant would add comparable capacity, substantially increasing the company’s manufacturing footprint in upstate New York.

GlobalFoundries estimates that the initiative will support approximately 27,000 construction and associated supply-chain jobs, alongside more than 1,000 skilled manufacturing positions in New York’s Capital Region. Those figures are projections rather than employment already created.

The US Commerce Department will separately receive an equity interest of approximately four per cent in GlobalFoundries. Chief executive Tim Breen said the transaction would raise the government’s overall holding to about seven per cent. The company is majority owned by Abu Dhabi’s Mubadala Investment Company.

GlobalFoundries shares advanced after the announcement, reflecting investor interest in an expansion model that could increase manufacturing capacity while limiting construction expenditure.

The ownership arrangements distinguish the investment from conventional private-sector semiconductor expansion. Japanese financing will underpin the factories, while the American government will gain a larger financial interest in the operator and participate in the broader manufacturing initiative.

GlobalFoundries also agreed with the Commerce Department to revise an existing award under the CHIPS and Science Act, reallocating $955 million towards investments in silicon photonics, silicon-germanium technology and advanced packaging at facilities in Malta and Burlington, Vermont.

These technologies are used in communications systems and data centres, where manufacturers are seeking faster connections and more efficient processing of large volumes of information. The separate funding revision does not represent an additional Japanese commitment to the two factories.

Japan’s foreign ministry described the New York project as the first semiconductor investment under the bilateral Strategic Investment Initiative announced in September 2025. It said the initiative was intended to strengthen supplies of mature-node chips used in automobiles, industrial machinery, smartphones and artificial intelligence data centres.

Although attention has focused heavily on advanced processors for artificial intelligence, mature-node semiconductors remain essential components in vehicles, industrial equipment and connected devices. Their availability is important to manufacturers seeking more geographically diversified supply chains.

The first facility will be built at an established semiconductor manufacturing location, allowing the investment to draw on existing industrial infrastructure and a local workforce. However, the announced timetable does not mean projected production capacity will be available immediately when operations begin.

Breen said GlobalFoundries had been chosen because large fabrication projects required manufacturing expertise and operational capabilities alongside financing. US Commerce Secretary Howard Lutnick welcomed the investment as a contribution to domestic manufacturing and employment.

The Japanese government expects the project to create commercial opportunities for its semiconductor equipment and materials suppliers. Tokyo Electron and SCREEN Holdings have expressed interest in supplying manufacturing equipment, while Tokyo Ohka Kogyo has indicated interest in materials and components.

Renesas Electronics, a major Japanese chipmaker supplying automotive and industrial customers, has expressed interest in purchasing output from the proposed facilities. Its participation could provide an important customer relationship as production plans advance.

Japan’s foreign ministry also identified smaller suppliers, including Fujikin and Kusakawa Seiki, as potential participants in the equipment and materials supply chain. Their involvement remains prospective, rather than a confirmed allocation of orders.