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November 17, 2023

Evonik Builds New Feedstock Plant in China with Annual Capacity of 200,000 Tons

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On November 16, German chemical giant Evonik Industries AG (Evonik) announced that it had signed a licensing agreement with Fuhua Tongda Chemical Co., Ltd. (Fuhua), a major chemical producer in China. Evonik will grant Fuhua the authorization to use its patented technology to construct a new hydrogen peroxide production facility in Leshan City, Sichuan Province. Additionally, the …

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J-beauty Meets its Waterloo in the Chinese Market

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With the conclusion of Double 11 and the release of third-quarter financial reports by four Japanese cosmetics companies—Shiseido, Kosé, Kao, and Pola—the decline of J-beauty in the Chinese market has become apparent. As domestic brands gain momentum, J-beauty, similar to K-beauty products, is seeking new avenues for growth in the European and American markets. The growth of …

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Alibaba Group Achieves Revenue of RMB 224.8 Bn in the Last Quarter Up 9% YOY

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On November 16, Alibaba Group released its financial results for the second quarter of the 2024 fiscal year. The financial report showed that during the reporting period, Alibaba Group’s revenue reached RMB 224.79 billion ($31 billion), representing a year-on-year growth of 9%. Adjusted EBITA (a non-GAAP financial indicator) increased by 18% year-on-year to RMB 42.845 …

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