FAST NEWS: Connect Biopharma Plunges on Poor Results for Colitis Drug

The latest: Connect Biopharma (CNTB.US) said late on Tuesday that results from a Phase 2 trial for its CBP-307 drug for treatment of patients with moderate to severe ulcerative colitis “did not achieve statistical significance.” Looking Up: Despite failing to achieve statistical significance, the new data still “demonstrate the potential for CBP-307 to provide benefit to patients living with moderate to severe ulcerative colitis,” CEO Zheng Wei said in a statement. That indicates the company believes the drug may still have commercial potential. Take Note: Connect Biopharma said it intends…

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Drone Giant DJI’s Russia Halt Pressures Other China Big-Techs

The top maker of pilotless flying devices has suspended its activities in Russia and Ukraine, becoming the first Chinese company to make such a move Key Takeaways: DJI has halted its Russia and Ukraine business and will reassess requirements in different legal jurisdictions, following wide-ranging western sanctions on Russia Other Chinese companies facing similar dilemmas include Alibaba, Lenovo, Huawei and Xiaomi By Tina Yip Russia has quickly become a wasteland for western tech brands, with names like Apple (AAPL.US), HP (HPQ.US) and Dell (DELL.US) all suspending local operations after the…

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FAST NEWS: Property Platform KE Holdings to Make Second Primary Listing in Hong Kong

The latest: Chinese real estate platform KE Holdings Inc. (BEKE.US; 2423.HK) announced Thursday it will make a second primary listing for its Class A ordinary shares on the Hong Kong Stock Exchange by way of introduction, with trading set to start May 11. At the same time, it said it would continue to maintain its older primary listing on the New York Stock Exchange. Looking up: The company’s move comes as the U.S. securities regulator is requiring that U.S.-listed Chinese companies share their audit records. It is threatening to forcibly delist…

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Spring REIT Rejigs Financing to Revive Stalled Mall Acquisition

The company has agreed to buy a majority of an upscale shopping mall using debt, after its original plan to finance the deal using equity failed due to a major investor’s objections Key takeaways: •      Spring REIT has agreed to acquire 68% of Huamao Place, an upscale shopping mall in the Guangdong city of Huizhou, for about 1.6 billion yuan •      Spring originally agreed to buy the property in 2018 but the deal collapsed over a dispute with one of its own major investors over the financing By Warren Yang…

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