JD..Com Inc. and Geely Automobile Holdings Ltd, one of the largest Chinese businesses, put the pressure on their profits as a result of the hard price competition, which has encouraged investors to sell. JD.com shares on the Hong Kong Stock Exchange fell to 4.5% after the E -Commerce Company announced that its quarterly profits had dropped to half compared to last year. The shares of “Geely” also fell 6% to the decline of its net decline before being deleted later. Competence stocks have seen a similar decline to reduce the Hanging Singh index for 1.5%Chinese businesses. Major sales and small profits despite the two companies’ registration of strong sales. Poor profits at the beginning of the results announcing the results are negative signs of the stock market in Hong Kong, which was one of the best performance in the region this year. The results of the second quarter are a basic test of the ability of Chinese businesses to withstand amid fierce competitive battles that require the intervention of the authorities. “The results of JDD.com and jelly emphasize the phenomenon of ‘internal inflation’ that the market has become well known, but the surprise was in pressure on the profits,” said Ji-ling, general manager of the ‘Union Bancaire Privee’ bank, adding that the worrying is the JDD.com administration’s indication that this competition is a cost of the market. highly competitive meal market has entered. Jelly is also subject to serious price competition in the electric car sector, in light of the companies that will attract Chinese consumers who have the largest factory in China with 2.6% in Hong share. Nick Lay’s analyst “JB Morgan” Nick Lay indicated that the basic profits of “jelly” dropped to 3.2 billion yuan ($ 445 million) in the previous quarter, a partial result of the escalation of the price competition since May. The month, “Lay wrote in his report.
The Price War targets a strong stitch for the profits of Chinese businesses
