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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