-- MOG Digitech (HKG:1942) announces Deng Zhihua's resignation as its chairman and co-CEO effective Tuesday.
The move allows Mr. Deng to dedicate more time to his other commitments, according to a Tuesday Hong Kong bourse filing.
Shares of the fintech company were up 1% in Wednesday afternoon trading.
Co-CEO Chen Yongzhong was also appointed as the company's CEO, starting on the same day.
The firm is currently in the process of identifying a suitable candidate for the chair position.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:UBS delivered exceptional Q1 2026 results with net profit of USD3.0B (+80% Y/Y) and underlying PBT of USD4.0B (+54% Y/Y), beating consensus estimates. The strong performance reflected broad-based momentum, with underlying revenues advancing 18% and the fourth consecutive quarter of positive operating leverage. UBS achieved a pivotal milestone in the Credit Suisse integration, completing Swiss client account transfers and delivering USD0.8B in additional gross cost savings. Management expressed confidence in substantially completing the integration by year-end 2026 and achieving exit rate targets of an underlying return on CET1 capital of approximately 15% and a cost-to-income ratio below 70%. However, two significant overhangs temper the outlook: proposed Swiss capital framework changes requiring an additional USD22B in CET1 capital represent a material headwind, while elevated geopolitical risks could shift client sentiment given management's guidance for flat net interest income sequentially in Q2 2026.
Chinese shares rebounded on Wednesday as the Politburo hailed the strong start to the year and pushed for technology and energy security.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.7% to 4,107.51. The Shenzhen Component Index climbed 2.0% to 15,120.92.At a meeting chaired by Xi Jinping, the Communist Party of China Politburo touted the country's strong economic start to 2026, with key indicators beating expectations, while warning that recovery remains uneven.China's top leadership called for targeted fiscal and monetary support to sustain growth. Officials stressed accelerating technological self-reliance, strengthening secure industrial chains and boosting domestic demand.The meeting also urged enhanced energy and resource security, expansion of major infrastructure, and steady progress toward economic self-sufficiency amid rising external uncertainties.In company news, Focus Media Information Technology (SHE:002027) posted first-quarter attributable net profit of 1.79 billion yuan, up 58% from 1.14 billion yuan the previous year. Shares of the advertising company closed 5% higher Wednesday.
TotalEnergies (TTE.PA, TTE.L) completed the acquisition of a 50% stake in Energetický a průmyslový holding, or EPH's, flexible power generation platform in Western Europe.The French energy giant said Wednesday the transaction, effective the same day, forms a new Amsterdam-based entity, TTEP, and the company will issue about 95.4 million shares to EPH, giving it an about 4.2% stake.TTEP, through its subsidiaries, owns and operates gas, biomass-based power plants, and battery energy storage systems assets across Italy, the UK, Ireland, the Netherlands, and France.