Stories from Hong Kong

Reports indicate OpenAI is plotting to go public within this year. The company faces increasing competition from established US firms like Google and Anthropic, as well as emerging Chinese competitors. The move comes as the company seeks to maintain its position as a pioneer in the industry.

A reported net profit of $536 million was achieved on $8.6 billion in revenue for the 2025 fiscal year. The application process is scheduled to begin in the second quarter of this year. The source advises individuals with urgent housing needs to apply immediately. Hong Kong authorities estimate approximately 900,000 tourists from mainland China will arrive for the upcoming Golden Week and International Workers' Day period. Hong Kong-based taxi operator Si Le Paradise announced fiscal year 2025 results with revenue of nearly 8.7 billion HKD. This comes as the city's property market continues to rebound, with home prices reaching a 28-month high last month. The figure was reported in a recent fiscal report. The company employs approximately 9,000 full-time and part-time staff. New Pixar and Marvel-themed attractions are currently under construction and scheduled to launch next year.

The Fanling East section of the Northern Metropolis transport infrastructure will open on May 3. Chief Engineer Cheung Pak-kin of the Civil Engineering and Development Department stated that the new road will allow residents in Sheung Shui and Fanling to access Kowloon while avoiding busy local sections and multiple traffic lights. A new 4-kilometer tunnel in the Northern Metropolis is nearing completion. The tunnel will run from Shek Wu Hui through the Fanling North New Development Area and connect to the Kowloon Tong section of the Fanling Highway. The Fanling Bypass is scheduled to open to motorists this Sunday at 8:00. Construction utilized an extra-strong type of steel and specific construction methods to reduce overall costs.

A horizontal bridge rotation method has been deployed in Hong Kong to span across the East Rail Line. Hong Kong government officials announced new open quotas allowing permanent residents and companies to drive across the Hong Kong-Zhuhai-Macau Bridge to Macau. The quota includes 200 spots for permanent residents and 200 spots for companies. Applications for these spots open this Thursday. Successful applicants will be permitted to travel to Macau multiple times starting in mid-July. The measure is intended to provide additional convenience for travelers. Haley Yip reported on the implementation of these new driving access rules. Current quota holders issued after September 2023 are not eligible for this specific arrangement. Successful applicants can travel to Macau multiple times using the bridge from mid-July until the quota expires in 2029.

Belief in intuition remains strong despite modern technology. Younger generations, specifically Gen Z, are most likely to claim psychic traits. The source noted that for many, this belief remains a guiding force.

The total value of blocked cargo for a specific company is estimated at approximately $5 billion. Weekly insurance costs for a vessel in the Red Sea represent about 1.8% of the ship's total value. These insurance costs are renegotiated every week, leading to accumulated expenses. The report included interviews with special correspondent Eric Destiné in Hong Kong.

The Fanling To East section is scheduled to open on May 3. The dual two-lane carriageway connecting Fanling High will open to motorists this Sunday at 8am. The Director for Agriculture, Fisheries and Conservation announced that 11 staff members will patrol the island to provide advice and education to visitors. Five guides, including two snorkeling and three kayaking guides, will also be stationed in the waters to manage the coral area. Chief engineer Pak Chen from the Civil Engineering and Development Department stated that prefabricated components were used to span the east rail line. Workers built the structure in a temporary position before rotating it to its final placement over two nights to increase efficiency. The new bypass is expected to reduce travel time by 10 minutes by allowing drivers to avoid Sheng Shui and Fanling Town Centers.

The Fanling to East section of a major transport infrastructure project in Hong Kong is scheduled to open on May 3. The Eastern section of the Fanling Bypass will open tomorrow at 8 AM.

Hong Kong Chief Executive John Lee attended a groundbreaking ceremony for a new medical research and teaching complex at the Hong Kong University of Science and Technology. Prices for small and medium units rose 1.4% month-on-month, while large units rose 0.9%. Prices have risen for ten consecutive months with a monthly increase of 1.4% and a year-on-year increase of 9.8%. The central bank's latest report indicates that interest rates are lower than market expectations. SMIC decreased 9.6 percent to 67.35 HKD, while Xiaomi fell 7.6 percent to 30.34 HKD. The Hang Seng Tech Index declined 5.4 percent, according to the report. Kuaishou shares reached a low of 42.6% this morning, down over 2% from last week's close. South Xi Technology shares rose 271.2% following a 3.5% increase last week. Certain stocks saw double-digit declines, with some falling nearly 20 percent due to share placement.

A private hospital operated by the Chinese University of Hong Kong in Sha Tin plans to fully repay a government loan exceeding $4 billion by March 2027. The medical center previously reported losses and had requested two extensions on its repayment schedule. Officials stated the hospital's financial position has gradually stabilized, allowing for the accelerated repayment. The university intends to facilitate the process through bank loans. The hospital reported its financial situation has improved and is implementing the repayment. The CUHK Medical Center in Sha Tin previously sought two extensions to its repayment plan due to losses. Authorities reportedly never issued a formal request for the early repayment.