Giant Biogene IPO: A Collagen Queen, or Saggy-Skinned Stepsister?

The fast-growing skin-care products maker has filed for a Hong Kong listing that could value it at about $8.5 billion Key Takeaways: Giant Biogene has filed for a Hong Kong IPO, thriving on growing popularity of skin care products from China’s growing middle class The company’s gross margin has improved steadily over the last three years on strong sales for more expensive professional skin-care products By Molly Wen As China’s “beauty economy” takes off, aesthetic medicines are developing by leaps and bounds, fueled by growing demand for facials, skin boosters…

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FAST NEWS: Nissin Foods Revenue Rises, But Raw Material Prices Weigh on Profit

The latest: Instant noodle maker Nissin Foods Co. Ltd. (1475.HK) said its net profit decreased by 3% to HK$90.31 million ($11.6 million) in the first quarter of this year, despite a 10% increase in revenue to HK$1.06 billion, according to a company announcement last Friday. Looking up: Nissin said the revenue gains came on higher sales of its Cup Noodles brand in both mainland China and Hong Kong, as both places experienced resurgences of Covid-19. It also cited appreciation of the Hong Kong dollar against the Japanese yen. Take Note: The company’s overall…

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China-Led Phoenix Motor Sputters With Watered Down U.S. Listing Plan

Electric vehicle maker aims to raise $20 million from its Nasdaq IPO, down from a previous $150 million target, which is only enough to fund its operations for a year Key takeaways: China-linked American EV startup Phoenix Motor has slashed the fundraising target for its U.S. IPO to $20 million from a previous $150 million The money-losing company has only sold 104 EVs since its inception, and says the latest fundraising target can finance its operations for just a year By Rajiv Sekhri A former American electric vehicle (EV) highflyer…

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