FAST NEWS: Covid Vaccine Maker Sinovac’s Profit Skyrockets in First Financial Report for 2021

The latest: Sinovac Biotech Ltd. (SVA.US), maker of one of China’s three major Covid-19 vaccines, reported its revenue soared 161 times to $11 billion (70 billion yuan) in the first six months of 2021 from $67.7 million a year earlier, according to a Thursday stock exchange filing. The company said it posted a $5.1 billion profit for the period, or $44.80 per diluted share, compared to a $12.6 million loss in the year-ago period. Looking Up: Sinovac said it has supplied over 2.5 billion doses of its CoronaVac vaccine for…

Read More »

Mild Manner Coffee Takes on Starbucks in China With ‘Street Coffee’

Newer chains like the ByteDance-backed startup are using small-store format to change the big game in China’s vibrant coffee market Key takeaways: Manner Coffee is at the forefront of a new generation of boutique Chinese coffee chains that are attracting major investment dollars Newcomers are challenging Starbucks with small-store format that slashes rent, labor costs By Jose Qian China’s booming coffee business has made it the second most important market for global giant Starbucks (SBUX.US), behind only its home U.S. market. But it’s also providing fertile ground for new and…

Read More »