FAST NEWS: Meitu Takes Majority Ownership of SaaS Unit Meidd

The latest: Beauty app operator Meitu Inc. (1357.HK) announced it will buy an additional 20.67% of SaaS company Meidd Technology for about 79.7 million yuan ($12.5 million). Meitu already holds 42.68% of Meidd, meaning the purchase will raise its stake in the company to a majority 63.35%. Looking Up: Meitu is looking for ways to monetize its popular service that is centered on mostly free apps that people can use to make themselves look more beautiful. As a software as a service (SaaS) provider, Meidd could become an important such…

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As U.S. Takes Aim at China Drug Makers, Innovators Appear at Biggest Risk

Washington’s campaign to keep cutting-edge technology out of China took a new twist late last week with the addition of Chinese medical companies to U.S. blacklists Key takeaways: Washington has blacklisted 37 medical-related companies, most of them Chinese, over concerns their skills and technology could be used to help the Chinese military Shares of companies that develop their own drugs are coming under more pressure than peers who license drugs from third-parties following the move   By Doug Young In these troubled times of U.S.-China tensions, sometimes being a copycat has…

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Yixin Fires on All Cylinders in a Troubled Auto Market

The Internet auto financier’s car transactions rose 27% year-over-year in the third quarter, far outperforming the sputtering market Key takeaways: Yixin has posted solid transaction volume growth following its transformation into a car loan broker New car shortage caused by tight global chip supply may pose challenges to the company By Jony Ho China’s GDP grew just 4.9% year-on-year in the third quarter amid a new round of Covid-19 outbreaks, with total retail sales up just 4.4% in September. The consumer spending growth was much lower than the 16.4% growth…

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