FAST NEWS: MicroPort Scientific’s Shanghai Unit Posted Up to 50% Profit Growth Last Year

The latest: Medical device maker MicroPort Scientific Corp. (0853.HK) said late on Monday that its 46%-owned subsidiary, Shanghai MicroPort Endovascular MedTech (Group) Co. Ltd. (688016.CN), will record a 40% to 50% profit increase for 2021. Looking up: Shanghai MicroPort’s revenue from its overseas business grew rapidly as the company increased its efforts in the international market. Take Note: MicroPort Scientific said recurrences of Covid-19 have affected heart-related surgeries, which could affect Shanghai MicroPort’s future sales, in turn affecting its own revenue and earnings performance. Digging Deeper: Shanghai MicroPort makes arterial…

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After Major Rebrew, Is Luckin Seeking to Re-list in New York?

Scandal-tainted Starbucks Chinese challenger dismisses media report about a re-listing plan, despite recent actions that suggest such a potential move Key takeaways: Scandal-tainted Luckin Coffee is discussing capital raising options, including a potential re-listing on the Nasdaq later this year, according a Financial Times report The company still faces hurdles in the form of competition from established giant Starbucks and newer up-and-comers like Manner Coffee By Jony Ho After getting burned once, will investors be willing to take another sip of a scandal-tainted Luckin Coffee Inc. that says it’s now…

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ZhongAn’s Big-Tech Ties in Focus as Alibaba-linked Ant Trims Stake

Online insurer’s shares tumbled after Ant Group disclosed plan to trim its longtime stake, but later rebounded after Ant affirmed its commitment to their strategic ties Key takeaways: •      Ant Group, one of the three founders of ZhongAn, disclosed last week it trimmed its stake in the digital insurer •      ZhongAn has close business ties to the three parents, especially Ant and its Alibaba affiliate under a platform cooperation agreement By Warren Yang ZhongAn Online P&C Insurance Co. Ltd.’s (6060.HK) ties to Alibaba (BABA.US; 9988.HK), one of its three big-name…

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