Fading Producer of China’s ‘The Voice’ Files for Hong Kong IPO

Star CM took China by storm with a Chinese edition of the popular reality series, but has fallen onto hard times lately Key Takeaways: Variety show producer Star CM has filed for a Hong Kong IPO, seeking funds to revive its fading fortunes Revenue from the company’s flagship “Sing! China” dropped from 1.14 billion yuan during its heyday in 2015 to just 252 million yuan last year. By Ken Lo The company behind “Sing! China,” the hugely popular Chinese rendition of the U.S. reality show “The Voice,” is taking its…

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FAST NEWS: Xiaomi Slips Into the Red on Big Phone Shipment Drop

The latest: Smartphone maker Xiaomi Corp. (1810.HK) reported its revenue fell 4.6% year-on-year in the first quarter to 73.35 billion yuan ($10.9 billion). It also recorded a 530 million yuan net loss for the period, reversing a 7.79 billion yuan net profit a year earlier, according to an announcement on Thursday. Looking up: The company ranked third in global smartphone shipments in the quarter with 12.6% market share, according to Canalys. Monthly users of its MIUI operating system reached 529 million in global markets and another 135 million in its home mainland China market. Take…

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As Omicron Subsides, Dada Nexus Could Be Riding Into E-Commerce Gilded Era

The company should benefit from growing demand for local delivery services as consumers become accustomed to receiving goods at home during Covid-19 lockdowns Key takeaways: •      Dada Nexus’ revenue grew strongly in the first quarter, after excluding the impact of a change to the way it pays riders for certain delivery services •      Omicron outbreaks are accelerating drive to online shopping, which should help companies like Dada even as lockdowns and other restrictions start to ease By Warren Yang There’s no shortage of downbeat headlines about the Chinese economy nowadays.…

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