Scandal-Ridden Luckin in Nascent Coffee Comeback. But Will Investors Take a Sip?

With strong first-half revenues and shares within striking distance of its $17 IPO price, Starbucks challenger could be positioning itself for a big-board relisting Key takeaways: Luckin Coffee’s latest post-scandal financial report shows revenue more than doubled in the first half of the year, as losses narrowed Reformed company’s shares have rebounded to just below their IPO price, as it moves to business model with new focus on franchising By Mia Shanley For better or worse, investors tend to have short memories. That’s especially the case with Luckin Coffee Inc.…

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361 Degrees Still a Sportswear Laggard, But Sees Potential in Kids

Company forecasts 15% to 20% growth for its separately run kids unit in the third quarter, ahead of ‘low teens’ growth forecast for its other brands Key Takeaways: •      361 Degrees forecasts ‘low teens’ revenue growth in the third quarter, slowing from the first half of the year •      Company’s shares have risen sharply this year on a broader sector rally, but are still undervalued compared to peers By Thomas Zhang Hong Kong requires its listed companies to only report financial results twice a year, which means that release of…

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Latest Financials Breathe New Life Into Xinjiang Goldwind’s Shares

Strongly improving margins in third quarter ease concerns about overreliance on big state-owned customers Key Takeaways Xinjiang Goldwind’s third-quarter profit jumped 47% despite an 11% revenue decline, pointing to strongly improving margins Company’s Hong Kong and Shenzhen-listed shares rallied strongly after the report’s release By Doug Young The latest quarterly report from Xinjiang Goldwind Science & Technology Co. Ltd. (2208.HK; 002202.SZ) is breathing some fresh air into shares of China’s leading maker of wind power equipment. What exactly is behind the lift is a matter for interpretation for this high-profile…

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FAST NEWS: Koolearn Forecasts Losing Up to 40% of Its Revenue After Education Cleanup

The latest: Koolearn Technology Holding Ltd. (1797.HK) said it will stop offering after-school tutoring services for kindergartners to ninth-year students (K-9) for academic subjects included in China’s compulsory education system. The Hong Kong-listed online arm of education giant New Oriental (EDU.US) said the cessation will take place by the end of November, according to a statement released after markets closed on Monday. Looking Up: The move, a response to China’s ban on such classes by for-profit companies, will remove a huge overhang for Koolearn, allowing the education services provider to…

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Xiaobai Maimai Eyes Cancer Treatment as E-Commerce Pivot Sputters

Former P2P lender’s stock soared up to tenfold after announcement of latest shift, but later gave up much of the gains Key Takeaways: Xiaobai Maimai, the former P2P lender known as Hexindai, is making a radical move into cancer treatment in the U.S. The shift comes after the company struggled to generate revenue from social e-commerce By Warren Yang What do you do when your original peer-to-peer (P2P) lending business becomes the subject of an intense government clampdown? Turn to the less controversial e-commerce sector. And when you discover that’s…

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MicroTech Medical Hong Kong IPO Greeted with Yawns

Diabetes device maker’s shares go largely unchanged in first four trading days despite attracting Invesco and two other mid-sized U.S. fund managers Key Takeaways: Diabetes device maker MicroTech Medical’s shares have gone largely unchanged in their first four trading days after the company raised $250 million in its Hong Kong IPO Despite attracting U.S. giant Invesco, company is vying for investor attention with a growing field of newly listed China-focused medical device makers By Doug Young Another day, another medical IPO. That’s been a major theme for 2021 in Hong…

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FAST NEWS: Club Med Strength Fuels Fosun Tourism Rebound in Third Quarter

The latest: Fosun Tourism (1992.HK), owner of the Club Med resort chain, said the business volume at its resort operations totaled 5.58 billion yuan ($873 million) in the first nine months of the year, down 4.4% from the same period a year earlier. The decline marked a big improvement from the first half of the year, when business volume plunged 41.9% to 2.43 billion yuan. Looking Up: The improving performance was reflected in third-quarter results for Club Med, whose business volume more than doubled to 2.6 billion yuan during the…

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A-List Executive Team, Big-Name Backers Fail to Lift Abbisko IPO

Shares of cancer drug startup, whose investors include Carlyle Group and Temasek, are down 7% a week after their trading debut Key takeaways Four rounds of fundraising together with IPO proceeds have given the Abbisko a cumulative war chest of almost $500 million Company is betting a significant portion of its funds on China rights to an AstraZeneca drug to treat multiple solid tumors By Richard Barbarossa When it comes to startup drug makers, a strong executive lineup and big-name backers are often just as important as a company’s products…

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SMIC Spinoff SJSemi Becomes China’s Latest Chip Highflyer With New Fundraising

Chip packaging and testing company raises $300 million in new funding from a slate of state-backed entities Key Takeaways: •      SJSemi has raised $300 million in its latest fundraising round, following its recent spinoff from sanction-hobbled chip giant SMIC •      Company looks set to benefit from China’s recent drive to achieve self-sufficiency for its high-tech microchip sector By Thomas Zhang China’s aim of achieving self-reliance in high-tech semiconductor microchips has sent a flood of capital into the sector. One of the latest beneficiaries of that windfall is SJ Semiconductor Co.…

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Full Truck Alliance Moves Back Into Fast Lane With Strong Government Support

Company’s shares surge 15% on Tuesday after separate media reports signal strong regulatory backing at the national and provincial levels Summary Full Truck Alliance’s shares surged after separate media reports showed strong government backing by both Beijing and its home province. Shares rally 15% following reports of government support By Doug Young Trucking specialist Full Truck Alliance Co. Ltd. (YMM) is showing once again just how important syncing with government policy is to a company’s success in China. And it’s also showing just how important it is to tell the…

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