The Young Reporter
Trip.com returns to profit in Q1 as China’s domestic travel recovers from pandemic
- 2021-05-19
- The Young Reporter
- By: WANG Jingyan 王婧言Edited by: Alison Leung
- 2021-05-19
Chinese travel service provider Trip.com Group Ltd (TCOM, 9961) posted net profit attributable to shareholders of 1.8 billion yuan in the first quarter of 2021, reversing net loss of 5.4 billion yuan the same period a year ago, as domestic travel rebounded strongly from the impact of Coronavirus pandemic. Excluding share-based compensation charges and fair value changes of equity securities investments and exchangeable senior notes, non-GAAP net loss attributable to shareholders for the three-month period narrowed to 204 million yuan, from non-GAAP net loss of 2.2 billion yuan the previous year, it said in a statement. Trip.com, which provides one-stop travel services, including accommodation reservation, transportation ticketing, packaged tours and corporate travel management, said revenue decreased 13% year-on-year in the first quarter to 4.1 billion yuan as the strong growth of domestic travel service in mainland China was partially offset by the reduction of cross-border travel affected by COVID-19. “Long-distance travel in mainland China has fully recovered, and short-distance travel has shown a continuing growth trajectory,” said Sun Jie, Chief Executive Officer of Trip.com Group, in the conference call on Wednesday. However, net revenue was down 17% quarter-on-quarter as cross-border travel suffered heavily from travel restrictions. The re-emerged COVID-19 infections during the Chinese New Year this year also affected the company’s performance in January and February. Accommodation reservation revenue for the quarter increased 37% year-on-year to 1.6 billion yuan and transportation ticketing revenue also increased 37% year-on-year to 1.5 billion yuan. But on a quarter-on-quarter basis, the revenue of the two services decreased 30% and 11%, respectively, due to the travel restrictions introduced by the Chinese government at the beginning of 2021. “We will continue to see Trip.com Group transform from solely purchasing platforms to hubs of travel inspiration postings the best travel deals,” said Liang Jianzhang, Executive chairman of …
Hong Kong’s Bishop-elect promises to listen to young people
- 2021-05-18
- The Young Reporter
- By: Hamish CHANEdited by: Jenny Lam、Robin Ewing
- 2021-05-18
Hong Kong’s newly appointed bishop said in a press conference at the Catholic Diocese Centre today that he will listen to young people with empathy, but he has “no working plan” on how to do so.“ Young people are not homogenous and their views of Hong Kong are not homogenous. We need to understand them, discuss with them, not to debate but to have a dialogue,” Stephen Chow said. Bishop-elect Chow, 62, was appointed by the Vatican on Monday. The position has been vacant for two years since the death of Bishop Michael Yeung Ming-cheung in January 2019. As a religious leader, Fr Chow said he is going to help people who have been neglected by society. “Unity is not the same as uniformity. Unity is plurality and we need to respect plurality,” said Fr Chow. “Empathy means understanding other people’s opinion. You do not have to agree, but understanding is already a good start,” he said. “It is better to communicate in a small group rather than communicate in a lecture hall.” “It is vital to allow space for thinking. Students cannot grow without it,” said Fr Chow, who has been the Supervisor of Wah Yan College since 2007. Fr Chow said he did not know whether the Vatican consulted Beijing before his nomination. The China-Vatican Agreement gives China the right to appoint bishops but at the same time, recognises the Pope as the head of the Catholic Church. The 2018 Agreement was extended last year. Fr Chow has joined the commemoration of the June 4th Tiananmen Square crackdown at Victoria Park in the past. He said commemoration can be done in “different ways”. “I will pray for China, ” said Fr Chow. Whether or not he will join any public gathering this year depends if it is legal …
Hong Kong Disneyland Suffers Record Net Loss of HK$2.7 Billion in Fiscal 2020
- 2021-05-17
- Business
- The Young Reporter
- By: REN Ziyi DavidEdited by: Alison Leung
- 2021-05-17
Hong Kong Disneyland Resort reported on Monday a record net loss of HK$2.7 billion in fiscal year 2020 ending September 30, dragged by a plunge in non-local tourists during the coronavirus pandemic. The theme park had remained closed until February, 2021, which took up 60% of the fiscal year. Even the local guest reaction has been positive since reopening, the income cannot cover the high operation costs. Hong Kong Disneyland Managing Director Michael Moriarty said that the pandemic “is unpredictable” and their business strategy now focuses more on the local market. Park attendance was only 1.7 million during the reported period, a drop of 73 percent compared to prior year. Per capita spending dropped 18%, while the average hotel occupancy declined by 59 percentage points to only 15%, it said in a statement. Hong Kong Disneyland celebrated its 15th anniversary in November last year while the park only had 3 years in net profit since 2005. The net loss is the worst-ever on record and compared with a loss of HK$105 million a year ago. In order to reduce cost, Disneyland adjusted operation days to only 5 days per week and about 4000 employees have been on unpaid leave since September, 2020.
Consumer Council Finds Children’s Art Supplies Pose Safety Risks
- 2021-05-17
- Society
- The Young Reporter
- By: Hamish CHANEdited by: Robin Ewing
- 2021-05-17
More than half of the children’s crayons and fingerpaints tested were found to release toxic metals, the Consumer Council said in a press conference today. “Although there is no immediate risk, potential long term diseases may appear,” Nora Tam Fung-yee, Chairman of the Research and Testing Committee of the Consumer Council, said in the press conference. The Consumer Council tested 12 models of crayons and seven models of fingerpaints. The blue crayon from Swiss company Caran d'Ache’s “Hobby Line 1/2 watersoluble wax pastel” had the highest amount of aluminium, exceeding the EU Toy Safety Directive limit by almost five times. “Blue and black crayons contain the most harmful elements as black coal is one of the raw materials,” said Prof. Tam in the press conference. Children’s paints in Hong Kong must comply with one of four standards, including the EU standard used in the test, according to the Hong Kong Toys and Children's Products Safety Ordinance. Over half of the tested fingerpaints failed to comply with the EU Toy Safety Directive which requires children’s paints to taste bitter so they won’t be eaten. Fingerpaints produced by Spanish companies Jovi and Jar Meló, Korean company Mungyo and US company Crayola did not contain embittering agents at the EU standard, according to the Council. The council said parents should read package instructions and select paints based on the child's age. Parents should also consider purchasing crayons with a plastic barrel to reduce risk for ingesting harmful substances and be sure children clean their hands after use. Caran d'Ache responded to the council that the product involved stopped production in 2013 and had complied with the EU standard then. New products comply with the latest standard, said the company. Jar Meló and Mungyo responded to the council that they had added embittering agents …
Mainland man jailed for more than six years for stabbing Hong Kong protester
- 2021-05-14
- The Young Reporter
- By: KOO Chi Tung 顧知桐Edited by: Editor
- 2021-05-14
A mainland Chinese man was sentenced to six years and four months imprisonment in a Hong Kong court today for wounding with intent a young protestor who was distributing leaflets in Tai Po during the anti-extradition bill movement in 2019. Liu Guosheng, a 24-year-old cook, slashed the neck and stabbed the abdomen of a 19-year-old student in a pedestrian tunnel near the Tai Po Market MTR station on Oct. 19, 2019. Judge Andrew Chan Hing-wai said the attack was premeditated as the defendant purchased a fruit knife a day before the incident despite the victim being randomly chosen. He added the defendant was persistent in his attack and his intention was to kill the victim. He also said the injuries of the victim were serious and far-reaching, including physical pain for a long period of time and psychological impact, which was the most difficult to treat. “The life of a very young man has been ruined,” the judge said. He described the case as “one of the senseless episodes” during the protest in 2019. The judge said the use of violence did not and would not resolve any political differences. He said six months remission was given to the defendant for his voluntary surrender.
HKFTU urges mandatory testing for school staff for the resumption of face-to-face classes
- 2021-05-13
- Society
- The Young Reporter
- By: WANG Jingyan 王婧言Edited by: Robin Ewing
- 2021-05-13
The government should implement free mandatory COVID-19 testing for teaching staff in primary and secondary schools in Hong Kong and take measures to reduce children’s addiction to electronic products, the Hong Kong Federation of Trade Union urged at a press conference today. Primary and secondary schools will start half-day face-to-face classes from May 24. “The first thing is mandatory tests for all teachers and workers in school to keep students at low risk of infection,” said Tang Ka-piu, Kowloon East Chief Community Officer of HKFTU, adding that the union hopes the government can also provide free tests for students if possible. The union interviewed 849 parents and 1,158 school children in early May. Over 90% of children interviewed spent more than four hours on online studying and nearly 80% spent an hour or above on electronic devices for entertainment, Mr Tang said at the conference. He also said that 95% of parents interviewed agreed that online teaching increased children’s dependence on electronic devices and nearly 90% agreed that online teaching causes problems to their children’s health, such as poor eyesight, back and neck strain and unstable moods. “Online learning also increases the conflicts in families as parents want to prevent their children from spending too much time on phones, but the children reject it,” said Yu Siu-lun, Kowloon East Community Officer of the Union. Parents at the press conference said they are concerned about the efficiency of online teaching, as they both found their children pay less attention to class and play games or watch YouTube instead. Parents said they required extra-curricular tutoring to help students catch up with courses. Smaller classes for online teaching would increase the quality of online classes, Tam Mei-po, Kowloon East Community Director of HKFTU, said. The union also encouraged the Leisure and Cultural Services …
13 years after Sichuan earthquake: looking back and moving on
- 2021-05-12
- Society
- The Young Reporter
- By: WANG Jingyan 王婧言、REN Ziyi DavidEdited by: Robin Ewing
- 2021-05-12
The Young Reporter looks back at the Sichuan earthquake 13 years ago today. The magnitude-8 quake devastated the region, killed nearly 70,000 and injured close to 375,00. Almost 18,000 people are still missing. People all over China as well as in Japan, Thailand and the Philippines reported tremors. Now, more than a decade later, the psychological effects are still being felt but China is more prepared. May 12, 2008 -- 2:28pm “I felt the sense of shaking but at first I didn’t care about it too much,” said Wang Zhangling, who was in primary school in Mianyang, Sichuan when the earthquake hit. “The whole building began to shake heavily, and teachers shouted at us to run,” he said. Now a 20-year-old university student, Mr Wang said he remembered many classmates were crying as they rushed to the playground. Close to 16,000 died, thousands of them schoolchildren, and more than 100,000 were injured in Mianyang. Seven schools in the city collapsed. Long Zhengyin, now 51, said he remembered clearly the landslide when the quake struck the rural college he worked in as a security guard in Wenchuan county in Aba prefecture. “Dust blotted out the sky, and it was very dark,” he said. “The first thought in my mind was ‘I’m definitely going to die’.” Peng Sien, now 19, experienced strong tremors in Chengdu, 80 kilometres away from the epicentre. “I’ll never forget that moment when I ran downstairs in our kindergarten, holding one shoe in my hand,” she said, explaining that it was nap time when the earthquake hit. The aftermath For a month, Mr Wang and his family lived in a temporary tent because of aftershocks that continued until June 1. Every night they placed an upturned beer bottle in front of the tent to alert them …
Use of Nanotechnology in Chinese Medicine Offers Hope in Breast Cancer Treatment
- 2021-05-11
- Health & Environment
- The Young Reporter
- By: REN Ziyi DavidEdited by: Jenny Lam
- 2021-05-11
A new method of delivering Chinese medicinal herbs may be useful in the treatment of a particularly aggressive form of breast cancer, researchers at Hong Kong Baptist University and Cornell University have found. Speaking at a press conference on Tuesday, Dr Kwan Hiu-yee, an assistant professor at Hong Kong Baptist University’s School of Chinese Medicine explained that gambogic acid, which is derived from a local plant is useful in cancer treatment. But it does not dissolve easily in water. That limits its use in traditional Chinese medicine since most herbal treatments have to be boiled. Researchers tested two groups of mice with triple negative breast cancer cells. One using nanocarriers to deliver gambogic acid and the other without. The result showed that the weight of the tumor among the first group of mice decreased 67.6% on average after 17 days. The concentration of the drug was also three times higher two hours after delivery using nanocarriers. The new therapy also has reduced side-effects on the liver. “Treatment of triple negative breast cancer has not been effective and is very expensive, said Prof Bian Zhaoxiang, professor in Chinese Medicine Clinical Studies at Hong Kong Baptist University. The nanocarriers may offer hope in effective treatment in future. But the cost for one dose of targeted therapy is between $2000 and $5000 US dollars. “The triple negative breast cancer takes up 25% among all the breast cancer,” said Prof Bian. “This new method for drug delivery with reduced side effects may help more people in future, “ Prof Bian added.
BNO migrants sell Hong Kong properties for UK tax reasons
- 2021-05-11
- Business
- The Young Reporter
- By: Yoyo Kwok Chiu TungEdited by: Zhu Zijin Cora 朱子槿
- 2021-05-11
Hong Kong British National (Overseas) (BNO) passport holders moving to Britain tend to sell their properties in the city to avoid related taxes charged by the UK government on overseas properties and that may trigger a capital outflow of up to HK$280 billion from Hong Kong, based on banks and media estimation. BNO migrants will be subject to the UK's global tax system, under which their rental income from Hong Kong will be taxed and if they want to buy a residential property in Britain without selling their Hong Kong residence they have to pay an extra 3% of stamp duty. Therefore, Hong Kong residents emigrating to the UK are pondering what to do with their Hong Kong flats. Chan Siu-yi, 36, who moved to the UK several months ago with a BNO visa, has decided to sell her property in Hong Kong to avoid extra taxes. “The global taxation policy might charge us about €2000 (HK$18,717) every tax season if we don’t sell our property in Hong Kong after moving to the UK within 9 months,” she added. The British government launched a new policy after China passed a national security law last year, to allow Hong Kong BNO holders to live and work in the UK for up to five years and eventually seek citizenship. The policy is expected to spark a new wave of immigration. The British Home Office said in January that the number of immigrants via HK BNO visas is expected to reach between 258,000 and 322,400 over five years. Based on the estimation of Bloomberg Intelligence Research, up to 16,300 Hong Kong households may move to Britain via BNO visas this year and a maximum of HK$150 billion worth of properties from these families could be on sale in 2021 alone. A Bank of …
Slight Increase in Hong Konger’s Desire to Have Children after Maternity Leave Extension, Study Finds
- 2021-05-10
- Society
- The Young Reporter
- By: REN Ziyi DavidEdited by: Jenny Lam
- 2021-05-10
Tony He is 27 years old and has been married for three years. “For now I do not wish to have any kids and It depends on how my career goes,” he said. “Housing is a big problem here and we are not prepared.” Twenty-four year-old Polly Siu, who just graduated from university said the future is “unpredictable”, and she hopes to get a stable job first. “Whether I will get married or have babies is hard to say,” she said. According to a survey conducted last month by the Hong Kong Women Development Association, only 16 % of those aged 20-29 years in Hong Kong would consider having children. Hong Kong people’s willingness to have children has gone up by 2 percentage points to 44% since 2019, the survey found.. But more than half of 1254 respondents polled in April said they are not willing to have children at all. The slight increase comes three years after the government extended statutory maternity leave from 10 weeks to 14 weeks, and new mothers are now entitled to 80% of their salaries while on leave. But the Association believed maternity leave is only a minor factor when it comes to having kids. Those who do not wish to have children said financial burden is the main reason, followed by unaffordable housing and long working hours. Of those who said they would like to have children, women aged 30-39 years are most willing to become pregnant, followed by those aged 40-49 years. But only 16% of women between 20-29 years wish to have kids. “The educational level of women is improving and more of them are in the workforce,” said Lam-Wai-ming Vice Secretary of the association during a press conference. She also pointed out that the best reproductive age is between 20 …