Shenzhen Edge Medical Seeks Place in China’s Surgical Robot Market

The maker of cutting-edge medical devices has applied for an IPO in Hong Kong, even as it has yet to sell any products Key takeaways: Shenzhen Edge Medical has applied for a Hong Kong IPO, following China’s approval for the sale of one of its key products in January Company will face challenges from a growing number of domestic rival products already on the market By Molly Wen Born in the confluence of medicine, mechanics, biomechanics and computer science, surgical robots have become a crown jewel of sorts for the…

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FAST NEWS: WuXi AppTec Q1 Profit Doubles on Strong Chemical Business

The latest: Pharmaceutical services outsourcing company WuXi AppTec Co. Ltd. (2359.HK; 603259.SH) reported its revenue rose 71.2% to 8.47 billion yuan ($1.29 billion) in the first quarter, while its operating profit rose 106% to 1.71 billion yuan, according to an announcement late on Monday. Looking up: The company’s chemistry business was particularly strong for the quarter, with revenue up 102% to 6.12 billion yuan, accounting for 72% of its total, mainly due to an increase in customer volume and the addition of new capacity. Take Note: Net cash flow from operating activities…

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E-House Comes Unhinged in China’s Real Estate Crash, Joining List of Victims

Property services provider’s shares are nearly worthless after it became the latest from its sector to default on debt Key takeaways: •      E-House defaulted on $298 million worth of bonds that matured April 18, though it said this week that bondholders had agreed on a restructuring plan •      The company’s default adds to a string of similar missed payments by Chinese developers amid a deepening slump in the nation’s property market By Warren Yang China’s deepening real estate crash is generating a fast-growing cluster of fallen stars. The latest casualty…

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