FAST NEWS: Miniso Shares Plunge After Business Model Questioned By Short-Seller

The latest: Blue Orca Capital, a short-selling firm, claimed in a report Tuesday that hundreds of stores under Miniso Group Holding Ltd. (MNSO.US, 9896.HK) are owned and operated by people close to the company’s top management or chairman, which it says shows the company is not truthful about its business model. Looking up: In a swift response before the Hong Kong stock market open on Wednesday, Miniso refuted that, saying the report is without merit and contains misleading conclusions and interpretations regarding information relating to the Company. Take Note: The…

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TV Hitmaker Linmon Media to Go Public, But Will Its Finances Be a Turn-off?

Tencent-backed TV drama producer Linmon Media has been approved to list its shares on the Hong Kong Stock Exchange Key Takeaways: The production company with a string of hit dramas to its name has been cleared to launch a Hong Kong IPO. Tech giant Tencent is a big client and holds nearly 20% of its shares The company’s earnings performance has been bumpy, with revenues falling in the past three years but surging in the first quarter of this year By Lau Ming China’s entertainment business is a vast but…

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Nowhere to Hide: ZhongAn Hammered by Stock and Bond Bloodbaths

The digital insurer’s stock has lost more than 10% since it warned it will post a net loss for the first half of 2022 due to significant investment losses Key Takeaways: ZhongAn warned that it lost as much as 750 million yuan in the first half of 2022, reversing a year-ago profit, due to a drop in its investment income and foreign-exchange losses The digital insurer made its first-ever underwriting profit last year, but its profitability still depends heavily on investment income By Warren Yang ZhongAn Online P&C Insurance Co.…

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