Fanhua to Leave Wall Street. Next Stop, Hong Kong?

Fanhua has announced a plan to delist from New York, with founder Hu Yinan retaking the company’s helm Key takeaways: Online insurance broker announces plan to privatize as China gets set to roll out tough new regulations in January Company could go public again in Hong Kong, but analysis suggests such a listing would have difficulty achieving a high valuation By Jony Ho Of the three major U.S.-listed Chinese online insurance brokers, the oldest has just announced a plan to go private. That would leave the field with just two,…

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Kaixin’s Electric Vehicle Bet Wins Major Customer as It Shifts Gears to Manufacturing

Shares in operator of used car dealerships surge after it wins a $500 million order for its new electric vehicle-making business Key takeaways: •      Kaixin said it won a $500 million order to sell 10,000 electric trucks to an automotive logistics company over the next five years •      The deal comes months after the struggling Kaixin expanded into electric vehicles by acquiring a manufacturer and changing ownership By Warren Yang Used car dealer Kaixin Auto Holdings (Nasdaq: KXIN) wants to reignite growth by powering into electric vehicle (EV) manufacturing. That…

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