Chenghe Group’s Second SPAC Is Pursuing Merger Targets Beyond China

Chenghe Acquisition, a subsidiary of investment holding company Chenghe Group Ltd., says it is not looking to invest in businesses based in mainland China, Hong Kong or Macau Key Takeaways: The fintech-oriented SPAC features several ex-Goldman Sachs bankers in its management team, bringing Asia investment industry know-how It is the second SPAC to be taken public by the Chenghe Group, whose other shell company targets the Greater China healthcare sector By Fai Pui  A Chinese “blank check” company has just listed on the Nasdaq, raising $115 million, with its shares…

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FAST NEWS: Luckin Coffee Denies Hong Kong Listing Plan

The latest: Chinese coffee chain Luckin Coffee Inc. (LKNCY.US) said in a statement Monday that it is not seeking a Hong Kong listing at this time, refuting a media report that it was considering such a plan. It added it remains committed to U.S. capital markets where its stock is currently traded over-the-counter (OTC). Looking up: The company said it will continue to monitor capital market developments and evaluate all avenues to deliver value to its stakeholders, implying it has not completely ruled out a potential future listing in Hong Kong.…

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Oriental Culture Builds Up Lively Business on Art, Wine and Tea Traders

Young company has carved out a comfortable niche in C2C e-commerce, fueling triple-digit growth in both revenue and profits last year Key Takeaways: Oriental Culture’s revenue doubled last year to $37.6 million, while its profit soared more fivefold to $11.4 million on a post-Covid rebound Company is trying to create more digital products and services with recent initiatives in blockchain, the metaverse and non-fungible tokens By Doug Young When it comes to the latest high-tech buzzwords, it seems investors like blockchain and the metaverse, but are less excited about non-fungible…

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