China’s swings to profit, announces new CEO


Key Topics in this News Article:

News Snapshot:

Signage at's warehouse in Shanghai, China, on Mar. 9, 2022. The U.S. Securities and Exchange Commission on Wednesday added over 80 firms to its list of entities facing possible expulsion from American exchanges, which include China's, Pinduoduo, Bilibili, and NetEase. Shares of Chinese e-commerce giant rose nearly 5% in pre-market trade in the U.S. on Thursday after it swung to profit and announced a new chief executive. The company, which is a rival to Alibaba in China, said net sales for the first quarter rose 1.4% year-on-year to 243 billion Chinese yuan ($35 billion), beating an analysts'...