FAST NEWS: Maoyan Makes Further $21 Million Impairment Provision for Uncollected Receivables

The latest: Chinese online movie ticket seller Maoyan Entertainment (1896.HK) announced Tuesday it is making a further impairment provision of 139.9 yuan million ($21 million) following a revaluation of receivables, with deposits and receivables for online entertainment ticketing, e-commerce and other services accounting for 89.3 million yuan of the total. Looking up: Maoyan indicated that as of the date of the announcement, the operating rate of cinemas in China has recovered to over 80% and the film market continues to rebound. The group also has a number of films released or…

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Weigao’s Dialysis Business Seeks Hong Kong IPO in MedTech Boom

Shandong Weigao Group’s blood purification business has applied to list on the Hong Kong Stock Exchange, aiming to become the group’s fourth listed company Key Takeaways: Weigao Blood Purification filed for a Hong Kong IPO soon after bringing in well-known institutional investors The company is a domestic leader in China’s blood purification industry across a range of products, including blood filters and dialysis tubing By Molly Wen China’s medical technology market is booming and looks set to keep on growing, driven by accelerating demand from an ageing population. With big…

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Stretched to the Max, Shandong Ruyi Loses Control of Lycra

Three years after a debt repayment default, creditors have taken control of the iconic clothing brand after its Chinese owner’s foray into high-end fashion went awry. Key Takeaways: Three and a half years after spending $2.6 billion to buy 53% of Lycra, Shandong Ruyi has lost control of the fashion brand after creditors seized a majority of the company last week Ruyi’s brief foray into the global fashion industry has backfired spectacularly, with the company defaulting on debt it used to acquire global brands like SMCP and Lycra  By Andrew…

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