Ping An Insurance, China’s largest insurer by market value, reported a 36% increase in interim profit, driven by stronger policy sales and investment gains, reports the South China Morning Post.

First-half net profit hit RMB 92.59 billion ($13.78 billion) for the six months ended June 30, beating analysts’ consensus estimates of RMB 84.45 billion.

The primary drivers of the performance were an increase in the sale of new policies and greater investment income, the company said. Ping An’s insurance funds investment portfolio grew 1.9% in the first six months to RMB 6.61 trillion yuan as of June 30, with a 4.8% average net investment yield. The group’s asset management net profit jumped 209.4% to RMB 9.66 billion in the first half.

China’s top securities regulator will support Hong Kong-listed companies seeking to sell shares and issue bonds on the Chinese mainland, reports Caixin. This move marks a shift toward two-way cross-border financing.

The initiative, outlined Monday by China Securities Regulatory Commission (CSRC) Chairman Wu Qing, builds on a 2024 policy package that helped revive Hong Kong’s IPO market.

While Beijing’s earlier efforts largely funneled mainland firms to offshore markets, the new framework flows both ways.

Shares of Sigenergy Technology, a Chinese residential energy storage manufacturer, surged more than 100% during its Hong Kong trading debut on Thursday, reports Caixin. This pushes the startup’s valuation to HK$162.8 billion ($20.8 billion).

The Shanghai-based company raised HK$4.4 billion by offering 13.6 million shares in its initial public offering (IPO), with the stock closing at HK$659.5—up 103% from its issue price. The total fundraising could increase to HK$5.1 billion if the overallotment option is exercised.

The strong debut underscores global investor interest in green technology companies that leverage artificial intelligence to enhance consumer renewable energy products. This is especially evident as demand for residential solar and energy storage solutions grows in international markets.

 Investors pressed Mercedes-Benz on its recovery plans for ​China on Thursday, reports Reuters, warning that a luxury-focused strategy could hurt the ‌German brand’s chances of winning back Chinese consumers after a slump in sales.

Like rivals BMW and Audi, Mercedes has lost ground in the world’s largest car market, struggling to keep pace ​with fast-moving local brands such as BYD, NIO and Li Auto, which ​offer tech-laden premium cars at lower prices.

“Customers in China today buy innovation, not tradition. Anyone who ​isn’t a technological leader there becomes a status symbol of a bygone era,” said Moritz Kronenberger of Union Investment, a top-20 shareholder with about $276 million worth of stock. Kronenberger criticised Mercedes for ​developing new products from its luxury S-class range downwards, rather than adopting a ​more mass-market approach like its Chinese competitors.

Hong Kong stocks fell to a nearly three-month low on Wednesday, reports the South China Morning Post. This comes as surging oil prices fuelled bets that rising energy costs would stoke inflation and cripple global growth.

The Hang Seng Index closed 2% lower at 25,249.48, the lowest since December 16. The Hang Seng Tech Index lost 1%. On the mainland, the CSI 300 Index slid 1.1% and the Shanghai Composite Index retreated 1%.

All but 10 stocks on the 88-member Hang Seng Index fell. Alibaba Group dropped 3.6% to HK$129.90 and Tencent shed 0.9% to HK$506. Oil producers also gave up some of their earlier gains spurred by the surge in the fuel price, with PetroChina sliding 3% to HK$10.12 and CNOOC weakening 1.9% to HK$27.08.