As Losses Narrow, Is Zai Lab Finally Finding its Winning Formula?

The biotech breaks a cycle of widening losses as it shifts towards developing new drugs Key Takeaways: Zai Lab reported its loss shrank 65% in the first quarter of the year while its revenues continued to rise The company slashed its R&D costs by cutting licensing payments for existing drugs while spending more on finding new remedies By Tina Yip Zai Lab, like many pharma start-ups in China, kickstarted its business by licensing proven drugs from other companies. Investors had high hopes that it would later transform into an innovator…

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FAST NEWS: JD.com Swings to Red as Revenue Growth Slows

The latest: E-commerce giant JD.com Inc. (JD.US; 9618.HK) reported a net loss of 3 billion yuan ($4.44 billion) for the first quarter, reversing a 3.6 billion yuan profit in the same period a year earlier. The company’s revenue rose 18 % to 239.7 billion yuan for the period, according to its announcement on Tuesday. Looking up: The company’s non-GAAP net income for the period was 4 billion yuan, flat compared to the same period last year and better than the 24% to 31% decline expected by major investment banks, mainly due to revenue growth in its logistics and retail…

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Shrinking Tencent Music Looks for Sustainable Business Model

China’s equivalent of Spotify posted first-quarter revenue and profit declines, as it overhauls its business after being ordered to stop anti-competitive practices Key Takeaways: Tencent Music’s revenue and profit fell 15% and 34%, respectively, in the first quarter, after the company was ordered to stop its anti-competitive practices last year Company is shifting focus to providing more products and services for music lovers in bid to create a sustainable business model in the current environment By Doug Young Singing the blues, or hitting all the right notes? Those are two…

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