Everest Medicines Ties With Tencent to Scale Last Mile to Patient Care

Back-to-back deals with Tencent and Medbanks Health seek to build new distributing partnerships ahead of expected first drug approvals Key points: Everest Medicines could gain valuable distribution channels through its new partnerships with Tencent and Medbanks Both new partners have users bases on ‘closed-loop’ healthcare platforms providing everything from checkups to drug sales By Richard Barbarossa What do cutting-edge cancer drugs and social media have in common? Not much, really. But that unlikely pairing is bringing together cancer and autoimmune disorder drug startup Everest Medicines Ltd. (1952.HK) and leading social…

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Fosun Tourism Sees Rebound Just Around the Corner – Again

Owner of Club Med resort chain says business from core tourism operations slumped 42% in first half of 2020, an improvement from 74.5% drop in first quarter Key points: Fosun Tourism’s business continued to drop in the second quarter despite very weak comparisons from the year-ago period Company continues to see rebound coming, with bookings at 86% pre-pandemic levels in the second half of the year By Doug Young Tourism may be staging a nascent comeback as China and the west bring their pandemics under control. But you might have…

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Transforming Used Car Seller Uxin Gets Charge from Big-Name New Investors

Electric car startup Nio and private equity firm Joy Capital provide $100 million in much-needed new funding Key points: Uxin’s $100 million in new funds comes at a big discount in exchange for much-needed new capital and well-connected partners Investors are betting on big revenue growth as company transforms to a direct seller of used cars from previous middleman business model By Doug Young When it comes to doing business, having the right people on your board can be a huge asset by providing valuable connections to funding and other…

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Adult Educator Jianzhi Defies Regulatory Storm With IPO Application

Profitable provider of educational content to universities and libraries files for New York listing to raise $50 million Key points: Jianzhi is different from most education companies to recently list due to its focus on adult education and the fact that it’s profitable Company could be valued in the $600 million to $800 million range due to its profitability and relatively low regulatory risk By Doug Young “Brave” is the first word that comes to mind to describe a newly filed IPO application from Jianzhi Education Technology Group Co. Ltd.…

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Boqii Cuddles Up to Premium U.S. Pet Food Maker

Online pet community operator signals intent to make more strategic investments as it buys undisclosed stake in Better Choice Key Points: Boqii’s investment in U.S. premium pet food maker Better Choice could signal start to strategic acquisition campaign Company is relatively cash-rich, with $70 million in its coffers following its U.S. listing last fall By Doug Young Regulatory concerns about user data protection have thrown a major spanner in the works at U.S.-listed Chinese companies these days, both those already trading in New York and those preparing to list. But…

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Medical Data Collector LinkDoc Could Face Cash Crunch After IPO Withdrawal

Oncology-focused information provider’s 12-month operating plan had included $200 million in IPO funds that it will no longer have Key points:  LinkDoc has indefinitely shelved its $211 million IPO, with no word on when or if it will eventually proceed Company had estimated IPO funds, combined with current cash and cash flow, would be enough to meet its needs for at least 12 months By Richard Barbarossa Chinese oncology-focused medical data firm LinkDoc Technology Ltd., which is backed by e-commerce giant Alibaba, was looking forward to marking a major milestone…

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Event Organizer Pop Culture Group Sings the Blues After Flashy Debut

Hip Hop specialist’s shares soared as much as 1,200% in their trading debut last week, only to plunge 67% in the last four trading days Key points Pop Culture’s shares have lost 67% of their value from last Thursday after a spectacular IPO that saw them rise as much as 1,200% The company’s low-tech nature could protect it from the latest regulatory crackdown, though its use of the controversial VIE corporate structure remains a risk  By Alice Leung It isn’t exactly a household name, but hip-hop culture promoter Pop Culture…

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Wall Street Gives Thumbs Down to Online Grocers’ Business Model

Direct sales model used by Dingdong and Missfresh could put them at a disadvantage to Pinduoduo, Meituan Key points: Dingdong and Missfresh use a centralized direct sales model, compared with a less costly model used by newer rivals Pinduoduo and Meituan Dingdong and Missfresh may soon be forced into cash-conservation mode due to their limited funds and heavy losses By Wang Chuan U.S. investors have given a chilly reception to newly listed online grocers Missfresh Ltd. (MF.US) and Dingdong Ltd. (DDL.US), worried about both companies’ continued losses in the face…

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Investors Bet on Older, Offline Plays Among Battered Education Stocks

Embattled sector braces for reckoning day in September when all private educators will be required to have government licenses Key points: China East Education’s rally owes to its newly announced share buyback, as well as growing confidence it will suffer less impact from an ongoing sector crackdown Older players like New Oriental and TAL Education also look well positioned to weather the cleanup By Doug Young There’s nothing like a fire at someone else’s home to divert attention from your own burning house. That’s the latest message coming from China’s…

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China Shows Full Truck Alliance, Kanzhun Who’s Boss

Cyberspace authority’s probes into newly listed internet companies is aimed at making them think twice about U.S. IPOs     Key points: A new series of government cybersecurity probes is aimed at Chinese internet companies that have recently listed in the U.S. The probes are designed to make such companies think twice about making U.S. IPOs, but not to halt them By Doug Young Today we’ll take a deep dive into the subject everyone in China’s corporate realm is talking about, namely the newly announced government probes into logistics company Full…

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