Yidu Tech Pares Losses in Search of Elusive Profits

The medical big data company’s loss narrowed by 80% in its latest fiscal year, though its revenue growth slowed in the second half of that period Key Takeaways: Yidu Tech’s revenue rose 43% in its fiscal year through March, though that figure was down from the 62.3% growth figure for the first half of its fiscal year The company is well positioned to benefit from Beijing’s efforts to improve efficiencies in China’s sprawling but fragmented healthcare sector By Christina Meng The past year hasn’t been great tonic for shareholders of…

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FAST NEWS: Full Truck Alliance Plunges Despite New User Registration Resumption

The latest: Full Truck Alliance (YMM.US), a trucking app operator, announced Wednesday that it has restored new user registrations for its “Yunmanman” and “Huochebang” apps, with the approval of Cyberspace Administration of China Looking up: The company’s approval to register new users means that the Chinese government’s data security review has ended, which will help the company resume its business growth. Take Note: Many Chinese cities started to introduce strict epidemic control measures at the end of March, which is expected to slow down the company’s business significantly in the second quarter, while the positive…

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FAST NEWS: TuSimple And Peers Urge California to Allow Automated Trucks

The latest: Hou Xiaodi, The CEO of autonomous truck company TuSimple Holdings Inc. (TSP.US), along with senior executives and chamber of commerce leaders, has sent an open letter to California Governor Gavin Newsom calling for the opening of California’s roads to self-driving trucks. Looking up: The joint letter cited a study concluding that deployment of the technology in California could bring $6.5 billion in economic activity to the state, while leading to greater efficiency in the logistics supply chain and allowing consumers and businesses to enjoy the results. Take Note: The California…

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Latest Bitcoin Meltdown Pressures Chinese Crypto Companies

The recent massive selloffs in bitcoin and other crypto currencies have left Ebang, Canaan and BIT Mining coping with tanking share prices and dire business outlooks Key Takeaways: Ebang, a maker of cryptocurrency mining machines, has been warned about potential delisting from the Nasdaq after its stock remained below $1 for a prolonged period Rival crypto mining equipment maker Canaan repurchased warrants it issued last year after its stock plunged to levels well below the exercise price By Warren Yang The recent meltdown in cryptocurrency markets is shaking up the…

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Tuya Seeks Hong Kong IPO to Hedge U.S. Delisting Risk, But Investors Are Wary

With the possibility of being forced to delist from the U.S. market by the SEC, Tuya is primarily seeking a safe harbor and only aims to raise a conservative HK$140 million Key takeaways: Tuya’s failure to turn a profit and a lackluster performance of the overall share market in Hong Kong has dampened investor interest The first-quarter loss of the internet of things company widened by 35.6% year-on-year as a result of rising R&D and operational costs By Fai Pui As the diplomatic and economic showdown between Beijing and Washington…

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FAST NEWS: Dental Group Arrail’s Losses Widen on Soaring Administrative Costs

The latest: Chinese private oral healthcare provider Arrail Group Limited (6639.HK) announced its first post-listing results on Monday, reporting a net loss of 701 million yuan ($104 million) for the year ended March, with no final dividend paid. Looking up: Though the company’s business was affected by recurring Covid-19 virus outbreaks during the reporting period, its revenue still grew by 7.2% to 1.62 billion yuan, mainly due to the steady increase in attendance at its clinics and hospitals. Take Note: The company’s administrative expenses for the period jumped 112% to 276…

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Investors Unfazed as TAL Education Added to List of Chinese Firms at Risk of Delisting

The education company’s shares fell 1.6% after it was cited by the U.S. securities regulator for non-compliance with the Holding Foreign Companies Accountable Act Key Takeaways: The U.S. Securities and Exchange Commission has added TAL Education and two other firms to its list of Chinese companies that could be delisted The SEC and its Chinese counterpart have been silent for more than a month on their talks for a key information-sharing deal to end the delisting threat By Doug Young And the list goes on. After a frenzied period where…

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Soaring Lithium Prices Lead Tianqi Lithium to Target $1 Billion in Hong Kong IPO

Tianqi Lithium readies for Hong Kong’s largest IPO in 2022 after getting green light from regulators Key Takeaways: Tianqi Lithium expects to go public in July, making it the second lithium company to be listed both in Mainland China and Hong Kong As China’s top lithium producer, it needs the money to repay debt taken on during a previous acquisition By Ken Lo Lithium prices have risen more than 100% so far in 2022, after more than quadrupling last year. And Tianqi Lithium Corp. (002466.SZ), which says it is one…

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