Cheng ventures into drama

New World Development (0017) scion Adrian Cheng Chi-kong has ventured into the micro-drama industry in partnership with Swiss investment firm Jakota Capital, according to state-backed mainland media SecuritiesTimes.

Chip firm's net plunges

Hua Hong Semiconductor's (1347) net profit plunged nearly 80 percent to US$58.1 million (HK$452.56 million) in 2024 over the previous year, due to a lower average selling price.

Tokenized money fund launched

China Asset Management (Hong Kong) plans to issue a tokenized retail money market fund this month, the first of its kind in the Asia-Pacific region.

Accountants list compiled

Hong Kong has compiled a list of about 60 local accounting firms that specialize in helping mainland companies expand overseas business, said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu. He said this would help mainland firm seeking city's accounting expertise.

UK seeks deeper finance ties

The UK stepped up private discussions to deepen financial services ties with Hong Kong, people familiar with the matter said. Chancellor of the Exchequer Rachel Reeves in the fourth quarter of 2024 deployed Treasury officials to hold talks with their counterparts in Hong Kong to explore improving economic relations, according to the people.

Staff reporter

Ping An Healthcare and Technology (1833) announced that its artificial intelligence model and a platform designed for doctors have built access to DeepSeek's model, becoming one of the latest Chinese tech companies to adopt homegrown technology.

The firm said the access to DeepSeek's model will help to further enhance the intelligence of medical services, which includes assisting doctors in making more accurate diagnoses and providing personalized health management.

Ping An Healthcare and Technology will continue to devote itself to the research and development of AI technology in the future with the empowerment of DeepSeek's large AI model.

Many Chinese companies have announced their adoption of DeepSeek models, including Baidu (9888), Tencent (0700), Huawei, Alibaba (9988), Lenovo (0992), and Geely Automobile (0175) in the past week.

DeepSeek's low-cost AI tool once triggered the sell-off of US chip giant Nvidia's shares and lit the ambition among Chinese companies for the technology breakthrough.

Earlier, OpenAI chief executive Sam Altman acknowledged that Chinese AI company DeepSeek has done "nice work" in developing a chatbot that rivals his company's ChatGPT.

In a podcast released on Tuesday, Altman mentioned he was planning to meet with the team behind DeepSeek, though this would not happen during this week's AI Action Summit in the French capital Paris, according to Deutsche Presse-Agentur.

Ping An Health adds DeepSeek model