Huafang Hopes ‘Internet Bad Boy’ Backing Will Bring Investors Streaming to Its IPO

The second-tier livestreaming platform has applied to list in Hong Kong for a second time, as its business bounces back from a difficult merger Key Takeaways: Huafang Group posted 4.6 billion yuan in revenue last year, up 63% higher from pre-pandemic levels in 2019, but still much lower than its major competitors Company’s largest shareholder is Zhou Hongyi, whose notoriety as China’s “internet bad boy” could raise awareness among investors By Ken Lo Despite a boom in livestream entertainment during the pandemic and backing from a man famous as China’s…

Read More »

FAST NEWS: TuSimple’s Quarterly Loss Narrows Sharply, Beating Expectations

The latest: Autonomous truck company TuSimple Holdings Inc. (TSP.US) said it recorded a $112 million loss in the first quarter of the year, narrowing by more than half from a $385 million loss a year earlier, according to its latest quarterly report released on Tuesday. Looking up: The company’s loss per share was $0.50 for the period, which beat the average estimate for a $0.57 loss forecast by six Wall Street analysts, according to Zacks Investment Research. Take Note: The company reported first-quarter revenue of $2.26 million, up 140% from…

Read More »

De Well Files for Hong Kong IPO, Flush With New Ties to Cainiao

International logistics firm could be valued at around $300 million, following $67 million investment from Alibaba’s logistics arm last September Key Takeaways: •      Global logistics services provider De Well has filed for a Hong Kong IPO, aiming to boost its footprint on booming demand for cross-border e-commerce •      Filing comes eight months after company sold 29.5% of its shares to Alibaba’s Cainiao logistics arm for $67 million By Carol Yang When it comes to logistics, China-focused investors already have plenty to choose from in a crowded field filled with names…

Read More »