FAST NEWS: Huazhu Loss Doubles in Q1, Sees Q2 Revenue Contraction

The latest: Hotel operator Huazhu Group Ltd. (HTHT.US, 1179.HK) reported its net loss widened by 154% to 630 million yuan ($94 million) in the first quarter from a year earlier, despite a 16.4% increase in hotel turnover to 9.5 billion yuan, according to its latest results published on Monday. Looking up: The company’s own first-quarter revenue grew 15.2% to 2.68 billion yuan, slightly outperforming its previously announced guidance for 11% to 15% growth, mainly due to a 17.5% increase in leased and owned hotel revenue to 1.64 billion yuan. Take Note: The wider loss…

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YSB’s B2B Pharma Platform: Sexier Than the SOEs, But Stodgier Than B2Cs

The drug distributor for pharmacies and community-level medical institutions has filed for a Hong Kong listing, boasting strong revenue growth but also massive losses Key Takeaways: YSB has filed for a Hong Kong listing, operating a B2B drug-selling business model with lower margins than B2C platforms Company operates a drug-trading platform and its own proprietary business, with a P/S ratio lower than B2C platforms but higher than traditional drug distributors By Molly Wen While selling to consumers can generate big user numbers for e-commerce companies, it also generates big pressure…

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ATRenew Starts the Year Off Strong, Braces for Covid Impact

The smartphone recycler’s revenue rose 45.7% in the first quarter, but it forecast a slowdown in the second due to pandemic-related disruptions before a gradual recovery later in the year Key Takeaways: ATRenew‘s revenue rose 45.7% in the first quarter to 2.2 billion yuan as both product and service revenues recorded strong gains   Company could benefit over the longer term from the rollout of China’s first guidelines for used electronics refurbishment by the city of Shenzhen in April By Doug Young Leading smartphone recycler ATRenew Inc. (RERE.US) has posted…

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