Full Truck Alliance Puts the Brakes on Hong Kong Listing Plan

The U.S.-listed truck app operator reportedly scrapped its plan for a second listing in Hong Kong due to recent improvements in the U.S. regulatory environment Key Takeaways: By Doug Young We’ll spend our final trading day of 2022 looking at a report that trucking app operator Full Truck Alliance Co. Ltd. (YMM.US) has scrapped its plan for a Hong Kong listing. If the news is correct, which seems likely, the move would represent a highly symbolic positive end to what has been a year filled with bumps and bruises for…

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FAST NEWS: Chaoju Invests 100 Million Yuan in Healthcare Fund

The Latest: Ophthalmic clinic operator Chaoju Eye Care Holdings Ltd. (2219.HK) on Wednesday said it will invest 100 million yuan ($14.3 million) for a 5% stake in a fund that invests in healthcare and medical companies. Looking Up: Companies like Chaoju rely on returns from such investments to boost their revenue and profits. Thus, good performance by the fund could help to boost the company’s future profits. Take Note: The investment will deplete Chaoju’s cash holdings, which totaled 1.4 billion yuan at the end of June, according to its latest…

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FAST NEWS: Nisun Revenue Triples on Addition of Supply Chain Trading Business

The Latest: Supply chain services provider Nisun International Enterprise Development Group  (NISN.US) on Wednesday reported its third-quarter revenue tripled year-on-year to $110 million. Its net income for the period rose by a slower 37% to $14.2 million from $10.4 million a year earlier. Looking Up: The company’s supply chain trading business launched in July 2021 contributed over 50% of Nisun’s revenue for the quarter. It also recently announced an agreement to provide services to a fresh fruit distributor, expanding its presence in the agricultural segment. Take Note: Nisun’s cost of…

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EHang Encounters Capital Headwinds as Its Air Taxis Stay Grounded

A new fundraising highlights the company’s dwindling cash as it remains in the red despite progress in commercializing its aerial vehicles Key Takeaways: By Warren Yang EHang Holdings Ltd. (HANG.US) is working hard to make futuristic flying cars reality. But it’s flying into some capital headwinds in that process, potentially leading some investors to refrain from betting too big on the company. Last Friday, EHang — a maker of autonomous aerial vehicles (AAVs) that can carry passengers or deliver cargoes — said it formed a new “strategic partnership” that immediately…

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Fast News: China Stocks Rise as China Scraps Covid Quarantine for International Arrivals

The Latest: China announced on Monday that inbound travellers will no longer need to quarantine when they arrive in the country starting Jan. 8. Looking Up: The scrapping of such quarantines is a major step in China’s re-opening of its borders as it shifts from its “zero Covid” policy. The step is likely to improve confidence among foreign investors, helping to boost the world’s second largest economy. Take Note: China’s economy has been hard hit by its stringent Covid-control restrictions since the pandemic began three years ago. With a high…

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Fanhua Decides to Stay on Wall Street, Citing Improving U.S.-China Climate

The insurance broker’s founder withdrew his privatization bid launched a year ago, saying the risk of Chinese companies being forced to de-list from New York has been ‘substantially’ reduced Key Takeaways: By Doug Young At first glance, Chinese insurance broker Fanhua Inc.’s (FANH.US) new announcement of the withdrawal of a bid to privatize the company looks like more of the same. Such on-again-off-again privatization announcements have become common among U.S.-listed China stocks over the last two years as the group came under an unprecedented series of assaults from both Beijing…

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FAST NEWS: ZTO’s Hong Kong New ‘Primary’ Listing Status to Take Effect in May

The Latest: Logistics company ZTO Express (Cayman) Inc. (ZTO.US; 2057.HK) said its application to upgrade its Hong Kong listing from “secondary” to “primary” status has been approved and is expected to take effect on May 1 next year, according to a statement on Friday. It previously announced the plan to upgrade its listing last month. Looking Up: The upgrade would make ZTO’s Hong Kong-listed shares eligible for inclusion in a program connecting the Hong Kong stock market with its counterparts in Shanghai and Shenzhen, allowing Chinese mainland-based investors to trade…

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Yidu Tech Looks for Elixir With International Unit Stake Sale

The medical data services provider said it will sell 20% of its EVYD Technology unit to the Southeast Asian nation of Brunei’s sovereign wealth fund Key Takeaways: By Trevor Mo Some might see it as a retreat, or perhaps a move to raise cash in troubled financial times. But medical big data specialist Yidu Tech Inc. (2158.HK) is calling its decision to sell part of its international operations a strategic move to assist in its overseas business expansion, according to a regulatory filing last week to the Hong Kong Stock…

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FAST NEWS: Sipai Health Surges on Trading Debut

The latest: Internet healthcare company Sipai Health Technology Co. Ltd. (0314.HK) made its trading debut in Hong Kong on Friday by opening 27.4% above its IPO price of HK$18.60. Looking up: The local portion of the offering was subscribed by 7,588 investors for a total of 8.2 million shares, representing an oversubscription rate of 7.3 times. Take Note: The company raised only HK$120 million ($15.4 million), a relatively small amount compared to its cumulative losses of more than 5.7 billion yuan over the past three and a half years. Digging Deeper:…

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