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On December 29th, Longbai Group announced that its wholly-owned subsidiary, Henan Baililian New Materials Co., Ltd., plans to introduce strategic investors and implement a capital increase. The strategic investors will invest a total of RMB 2 billion in Baililian New Materials, subscribing to RMB 778 million of newly registered capital. They are expected to acquire a 31.40% equity stake in Baililian New Materials after the capital increase. The funds raised will primarily be used to repay bank loans. After the capital increase, Baililian New Materials registered capital will increase from RMB 1.7 billion to RMB 2.478 billion. Longbai Group will still directly hold 68.60% of Baililian New Materials equity, and Baililian New Materials will continue to be included in the companys consolidated financial statements.A German government spokesperson stated (regarding the conflict in Ukraine) that there can be no peace without Russias involvement.On December 29th, Sunchine Medical Technology Co., Ltd. announced that its board of directors held a meeting on December 29th, 2025, and approved a proposal to change the company name and stock abbreviation. After the change, the company name will be Sunchine Intelligent Connectivity Technology Co., Ltd., and the stock abbreviation will be Sunchine Intelligent Connectivity. The English name and stock code will remain unchanged. This change aims to more comprehensively reflect the companys core business and strategic development direction, and convey the core positioning after the companys strategic transformation. The revised articles of association will be updated simultaneously, and the specific revisions have been submitted to the companys first extraordinary general meeting of shareholders in 2026 for review.Sources say Hyundai is currently unable to exercise its right to repurchase its former Russian car factory.December 29 – The Shanghai Municipal Peoples Government and the State Power Investment Corporation (SPIC) signed a strategic cooperation agreement in Shanghai today (December 29). According to the agreement, both parties will fully leverage Shanghais comprehensive advantages and SPICs professional strengths, focusing on strengthening cooperation in areas such as nuclear energy, gas turbines, power supply security, clean energy transformation of thermal power plants, green energy development, and international expansion. This will achieve complementary advantages and mutual benefit between the central and local governments, helping SPIC accelerate its development into a world-class clean energy enterprise with global competitiveness, and assisting Shanghai in accelerating the construction of a modern industrial system and its transformation into a socialist modern international metropolis with global influence.

Coca-Cola HBC's Profit Rises Due to Price Increases And Expense Reductions

Skylar Williams

Feb 14, 2023 17:01

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Coca-Cola (NYSE:KO) HBC AG announced a higher-than-anticipated operating profit for 2022 on Tuesday, aided by pricing increases and cost-cutting efforts.


However, the bottler anticipates organic operating profit growth between +3% and -3% in 2023.


For the year ending December 31, Coca-Cola HBC reported earnings of 703.8 million euros ($755.5 million), which was above the company-compiled analysts' estimate of 658.2 million euros.


Although there has been a shift in consumer spending due to customers' preference for cheaper options in the face of rising inflation, demand for packaged beverages and foods has remained robust despite price increases.


The wide portfolio of the Switzerland-based firm includes alcoholic beverages such as The Macallan and Jack Daniel's, fizzy drinks Sprite and Monster Energy, and Bambi cookies and wafers.


According to the company-compiled consensus, analysts anticipate an organic operating profit of around 865,6 million euros in 2023, representing a year-over-year increase of 23%.

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