Interior Design Specialist Manycore Aims to Become China’s Autodesk

Money-losing cloud-based services provider files for New York IPO that could value it at up to $1 billion Key Takeaways Manycore has emerged as the clear leader in China’s computer-assisted interior design market, comparable to U.S. giant Autodesk The company’s IPO could face headwinds following a recent series of setbacks for Chinese firms listing in New York By Eric Auchard Manycore Tech Inc., the unfamiliar Nasdaq IPO candidate behind the better-known Kujiale software, makes a reasonably good argument for calling itself China’s emerging leader in architectural and interior design software.…

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JinkoSolar, Canadian Solar See Sunnier Skies in China

Pair of solar panel makers separately announce they have filed to list on China’s two-year-old Nasdaq-style STAR Market Key points: Shares of JinkoSolar and Canadian Solar have jumped after both announced applying for secondary listings in China Applications could be a prelude to eventual bids to delist their shares from New York By Doug Young The near-term outlook for China’s bustling solar sector may be cloudy, as soaring material costs dampen demand for pricier solar panels. But you would never know that based on an overnight rally that saw shares…

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Surging Online Grocer Dingdong in Focus After Missfresh’s Stale Trading Debut

Missfresh’s shares drop 26% on their first trading day, as shares of larger rival Dingdong get set to debut this week Key points: Online grocer Missfresh’s weak trading debut could reflect investor concerns about its slowing growth and loss of its No. 1 status A similarly weak debut this week for leader Dingdong could show market sentiment is cooling towards Chinese tech firms By Doug Young When it comes to just about any company in China, investors seem to like growth over almost all else – even if that growth…

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After Some Soul Searching, Lonely Hearts App Soulgate Scraps New York IPO

Tencent-backed company attributes decision to finding other funding options, as analysts recommend caution Key points: Soulgate says its last-minute abandonment of a New York IPO came after it received ‘alternative financing options’ Analysts urge caution as company rapidly burns through cash on sales and marketing with no clear path to breakeven By Georgina Prodhan Perhaps it was destiny. Or perhaps there just weren’t enough buyers. Depending on your world view, those are two potential explanations for the 11th-hour scrapping of a New York IPO by Soulgate Inc., the company behind…

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New Energy Majors Daqo, Goldwind Face Political Heat From Washington

Xinjiang-based companies may get caught up in U.S.-China tussle, but any actions against them could be largely symbolic Key takeaways: New actions by the U.S. against Daqo appear largely symbolic and should have little to no impact on the company Daqo, along with Goldwind, could trade at slight discounts to peers over the next year due to political risk By Doug Young There’s nothing like a good political storm to cast a cloud over some of China’s most promising new energy companies. That’s one of the big messages coming out…

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Biotech Aspirant Hutchmed Sails Full Steam Toward Hong Kong Homecoming IPO

Company backed by billionaire Li Ka-shing secures cornerstone investors for more than half of its $600 million secondary listing in its home market Key points:  •      Hutchmed announces new approvals in China for two of its self-developed drugs in run-up to new $600 million listing in its home market •      All seven analysts polled by Bloomberg recommend ‘buy’ for the stock, as company tries to transforms from seller of third-party drugs to developer of its own products   By Alice Leung Hong Kong Billionaire Li Ka-shing usually gets what he wants…

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Spark Education Launches IPO Into Regulatory Storm

Looming crackdown aimed at easing pressure on students could force online small-class specialist to slash its fundraising plans Key points: Despite its rapid growth, Spark Education’s IPO is likely to get most scrutinized for its comments about China’s looming crackdown on extracurricular educators Regulatory uncertainty could force the company to slash its fundraising target by about half By Doug Young Talk about bad timing. Online education specialist Spark Education Ltd. has just filed its prospectus for a New York IPO that would look quite attractive if not for a huge…

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Fintech Qudian’s Profits Boom, Loans Shrink as It Bets on Direct Lending Model

Company posts fourth consecutive quarterly profit, but its shares remain significantly undervalued compared with peers Key points: Former fintech star Qudian has given investors cause for cheer with its fourth consecutive quarterly profit Microlender must demonstrate it can resume expansion of its core lending business following years-long regulatory crackdown By Ben Livesey Qudian Inc. (NYSE: QD), once the darling of the Chinese fintech industry, has provided some respite for long-suffering investors in its first-quarter results, with confident comments on its loan quality and optimism that implies it may be seeing…

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Pandemic Accelerates China’s Drive Into mRNA Treatments

Messenger RNA-based technology that is highly effective in preventing Covid-19 can also be used for treatment of other diseases Key points: High efficacy rates in preventing Covid-19 spark rush by Chinese companies into mRNA vaccines and treatments At least one Chinese-made mRNA Covid vaccine, backed by the military, is now in late-stage development  By Richard Barbarossa They may be late to the party, but that hasn’t stopped China’s drug makers from rushing into messenger RNA (mRNA) drug-making technology, which has won global fame for its use in creating highly effective…

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Cloopen’s Sinking Stock Defies Fundamentals, Lawyers

Cloud services provider’s stock has lost half its value since its strong February IPO, despite solid performance in its post-listing reports Key takeaways: Cloopen’s growth appears stable and may even be accelerating as it gains a foothold in China’s lucrative cloud services market A sharp decline in the company’s stock post-IPO has left many scratching their heads, including two shareholder lawsuit specialists By Doug Young There’s plenty of mystery surrounding stocks trading on China’s domestic markets in Shanghai and Shenzhen, where rumor and behind-the-scenes manipulation often play as big or…

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