Beisen Eyes Hong Kong IPO Again Even As Profit Remains Elusive

The provider of cloud-based human capital management tools has filed for an IPO in Hong Kong again after making no progress with its earlier plan to go public in the city Key Takeaways: Beisen, which originally filed for an IPO in Hong Kong in January, submitted an application to list shares in the city again this month The company’s revenue has been growing more than 20% annually in the past few years but it remains unprofitable due to high costs for product development and marketing By Emily Chan As Beisen…

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FAST NEWS: Fosun Pharma Raises $660 Million in Non-public Placement of A-Shares

The latest: Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (2196.HK; 600196.SH) announced on Wednesday it plans to raise up to 4.48 billion yuan ($660 million) through a non-public offering of about 107 million A shares to specific targets. Looking up: The proceeds will be used to prepare for innovative drug clinics, licensing and product launches, as well as to build an intensive comprehensive base and replenish working capital. According to the company, the fundraising will strengthen its internationalization strategy, promote the development of its main business and strengthen its debt structure.…

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Kingsoft Cloud Gets Pelted by Storm Over Locked Novel

Shares of China’s largest independent cloud services provider fell 12% after a social media storm erupted over a novelist who lost access to her work Key Takeaways: Kingsoft Cloud’s shares fell after it stopped an author from accessing her novel saved on its platform on suspicion she may have violated Chinese law The cloud services provider’s shares have lost three-quarters of their value this year on concerns about U.S.-China tensions and the company’s slowing growth By Doug Young This was one story that software maker Kingsoft Cloud (KC.US) probably didn’t…

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