Fairland’s ‘smart pools’ swim closer to IPO with CSRC application
The smart garden ecosystem maker boasts strong double-digit revenue growth Key Takeaways: Fairland Corp. has submitted its IPO application to China’s securities regulator, bringing it closer to a Hong Kong…
Chery tiptoes into Japan with EV ‘kei’ microcar joint venture
China’s leading car exporter is targeting the insular Japanese market through a Singaporean joint venture, as the domestic car market struggles Key Takeaways: Chery’s 27% stake in a Singaporean joint…
9973.HK
Cango cleans up its house. Now comes the hard part
The company paid off most of its long-term debt by selling down its bitcoin treasury, as it moves ahead with its new focus on modular high-performance computing for AI clients…
To revenue and beyond: Defining valuations in China’s commercial space industry
SpaceX’s upcoming IPO has put the commercial space industry in the spotlight for investors, raising the question of how these companies should be valued By Lee Shih Ta If…
Innovent’s $10.5 billion deal marks new model for China drugmakers
The Chinese biotech has added a major Pfizer collaboration to its growing roster of global deals, this time with a tighter commercial and profit-sharing partnership Key Takeaways: Co-commercialization deals…
Shareholders greet shape-shifting Impro Precision's fundraising with skepticism
The company is trying to shed its traditional industrial casting label to pivot toward high-end precision manufacturing, prompting investors to re-evaluate its worth Key Takeaways: Impro Precision is raising HK$539…
1286.HK
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IPO 
Fairland’s ‘smart pools’ swim closer to IPO with CSRC application
The smart garden ecosystem maker boasts strong double-digit revenue growth Key Takeaways: Fairland Corp. has submitted its IPO application to China’s securities regulator, bringing it closer to a Hong Kong…
Volant fuels up for Hong Kong IPO with $450 million in new funds
The 5-year-old eVTOL maker’s latest fundraising includes backers like Legend Capital and HSG, formerly known as Sequoia China, who join investors tied to the Shanghai government Key Takeaways: Volant has…
‘Plum king’ sweetens fourth IPO bid with new products, price cuts
Anhui-based Liuliumei has changed its name for its latest attempt to list in Hong Kong, but will investors find its fruit snack business any tastier? Key Takeaways: With revenue up…
Booming electricity demand feeds KeLiang’s niche in power grid simulation
Growing complexity of China’s power grid with the rise of AI and NEVs is driving demand for the company’s ‘simulate first, operate later’ simulation services Key Takeaways: KeLiang Information has…
New Energy 
Chery tiptoes into Japan with EV ‘kei’ microcar joint venture
China’s leading car exporter is targeting the insular Japanese market through a Singaporean joint venture, as the domestic car market struggles Key Takeaways: Chery’s 27% stake in a Singaporean joint…
Volant fuels up for Hong Kong IPO with $450 million in new funds
The 5-year-old eVTOL maker’s latest fundraising includes backers like Legend Capital and HSG, formerly known as Sequoia China, who join investors tied to the Shanghai government Key Takeaways: Volant has…
After years on the sidelines, VNET seizes on China’s AI moment with new CATL tie-up
China’s oldest independent data center operator is finding its footing in the AI era, helped by a new $1 billion investment from battery champion CATL Key Takeaways: Once a data…
Consumer 
Fairland’s ‘smart pools’ swim closer to IPO with CSRC application
The smart garden ecosystem maker boasts strong double-digit revenue growth Key Takeaways: Fairland Corp. has submitted its IPO application to China’s securities regulator, bringing it closer to a Hong Kong…
Chery tiptoes into Japan with EV ‘kei’ microcar joint venture
China’s leading car exporter is targeting the insular Japanese market through a Singaporean joint venture, as the domestic car market struggles Key Takeaways: Chery’s 27% stake in a Singaporean joint…
Why regulating capital and serving burgers are both getting tougher in China
China's move to push out cross-border stock brokers underscores the state's desire to control capital allocation and benefit state-owned enterprises; Wendy's ambitious plan to open 1,000 stores in China faces steep hurdles due to fierce competition and an increasing consumer preference for domestic brands
Autohome skids as China’s car market slams on the brakes
The online auto pioneer still makes money by connecting car buyers and sellers, but weak demand, falling ad budgets and new competition are eroding its old advantages Key Takeaways Autohome’s…
Miniso gets AI investment lift, as self-developed toys look for traction
The lifestyle retailer’s first-quarter report showed impressive headline profit growth, but a closer look reveals the increase owed to stock investment gains Key Takeaways: Miniso reported its first-quarter profit nearly…
Healthcare/biotech 
Innovent’s $10.5 billion deal marks new model for China drugmakers
The Chinese biotech has added a major Pfizer collaboration to its growing roster of global deals, this time with a tighter commercial and profit-sharing partnership Key Takeaways: Co-commercialization deals…
Investors pile onto TenNor IPO with hopes for new type of gastric drug
The biotech enjoyed a standout Hong Kong share debut after hailing its novel anti-bacterial drug, now undergoing late-stage clinical tests, as a potential gamechanger Key Takeaways: The TenNor Therapeutics IPO…
Then there were two: BeOne moves beyond single-blockbuster dependence
The company’s Sonrotoclax is the first newly approved BCL-2 inhibitor in the U.S. in nearly a decade, giving BeOne a potential new hit beyond its Zanubrutinib blood cancer therapy Key…
The global leap: Chinese biopharma, athletic brands dip toes in global waters
"To out-license drugs is a very handy and clever way for a win-win… but in terms of acquiring the businesses, that's going to be really tough." – Bradley Burgess Key…
Finance 
Cango cleans up its house. Now comes the hard part
The company paid off most of its long-term debt by selling down its bitcoin treasury, as it moves ahead with its new focus on modular high-performance computing for AI clients…
Yiren Digital left in the cold after parent freezes $4.4 billion in wealth products
The company’s shares fell nearly 25% over four days as investors worried about potential exposure to problems surrounding a major wealth management product issued by its parent Key Takeaways: CreditEase…
Why regulating capital and serving burgers are both getting tougher in China
China's move to push out cross-border stock brokers underscores the state's desire to control capital allocation and benefit state-owned enterprises; Wendy's ambitious plan to open 1,000 stores in China faces steep hurdles due to fierce competition and an increasing consumer preference for domestic brands
For Futu and UP Fintech, regulatory bombshell may finally clear global path forward
Hefty penalties from China's securities regulator for operating without necessary licenses remove a long-running overhang for the online brokerages Key Takeaways: Futu and UP Fintech have been fined a combined…
Ecommerce 
Autohome skids as China’s car market slams on the brakes
The online auto pioneer still makes money by connecting car buyers and sellers, but weak demand, falling ad budgets and new competition are eroding its old advantages Key Takeaways Autohome’s…
Vipshop looks to outlets in bid to jumpstart growth
The discount e-commerce company has been approved to spin off two of its brick-and-mortar outlet stores into a REIT, with another 18 similar projects Key Takeaways: Vipshop reported its revenue…
Yusheng IPO tests bumpy road for China’s used car market
The company’s Taocheche platform is riding China’s late-blooming used-car boom, but its inventory-heavy model shows the high cost of building trust in the sector Key Takeaways Taocheche has become China’s…
Luxury e-commerce ‘gondolier’ BMax paddles towards Hong Kong IPO
Backed by HSG, formerly Sequoia China, China’s second largest provider of e-commerce services is raising cash for its fast-growing livestreaming business Key Takeaways: BMax has filed to list in Hong…
AI/Infrastructure/Resources 
Cango cleans up its house. Now comes the hard part
The company paid off most of its long-term debt by selling down its bitcoin treasury, as it moves ahead with its new focus on modular high-performance computing for AI clients…
Shareholders greet shape-shifting Impro Precision’s fundraising with skepticism
The company is trying to shed its traditional industrial casting label to pivot toward high-end precision manufacturing, prompting investors to re-evaluate its worth Key Takeaways: Impro Precision is raising HK$539…
GDS commits up to 50 billion yuan to capture booming AI data center demand
China’s largest independent data center operator said it plans to spend between 30 billion yuan and 50 billion yuan on new facilities over the next three years Key Takeaways: GDS…
Volant fuels up for Hong Kong IPO with $450 million in new funds
The 5-year-old eVTOL maker’s latest fundraising includes backers like Legend Capital and HSG, formerly known as Sequoia China, who join investors tied to the Shanghai government Key Takeaways: Volant has…
