FAST NEWS: Vipshop’s Profit Rises on Cost Cuts, Even as Revenue Falls

The latest: E-commerce company Vipshop Holdings Ltd. (VIPS.US) on Friday reported its revenue fell 17% year-on-year to 24.5 billion yuan ($3.6 billion) in the second quarter, while its profit rose 17% to 1.3 billion yuan. Looking Up: The company cut its operating costs by 19% during the quarter to 3.9 billion yuan. As a result, its gross margin improved to 20.5% from 20.1% a year earlier, which was a big factor behind the profit improvement. Take Note: The company blamed the revenue decline on weak consumer demand due to a…

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FAST NEWS: New Horizon Health’s Loss Narrows on Booming Sales

The latest: Cancer-screening device maker New Horizon Health Ltd. (6606.HK) announced Friday that it lost 65.28 million yuan ($9.7 million) in the first half of the year, down significantly from a 2.89 billion yuan loss in the same period last year. Looking up: Revenues from the company’s ColoClear and Pupu Tube products increased by 419% and 132%, respectively, and it also recorded its first-ever sales from its UU Tube product during the period. Those gains powered a 413.7% revenue jump to 226 million yuan in the first half of the…

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Viva Biotech Dispenses Bitter Pill of Slowing Growth, Asset Devaluation

The contract drug services provider lost roughly 100 million yuan in the first half of this year, as its revenue growth underperformed its peers Key Takeaways: Viva Biotech’s eked out a scant 5% revenue growth in the first half of the year and fell into the red, even as other peers in China’s CXO sector performed much better Changing values of the company’s investments are largely behind big fluctuations in its performance in recent years By Molly Wen Despite broader malaise for Hong Kong’s bustling field of pharma stocks, one…

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GigaCloud Joins Wall Street Parade of China Meme Stocks

B2B e-commerce company’s shares quadrupled on their first trading day, even as its profits and margins are falling Key Takeaways: GigaCloud’s shares quadrupled in their New York trading debut, as the company became the latest newly listed Chinese stock in the U.S. to post massive early gains The B2B e-commerce company appears to be the latest meme stock on Wall Street, following an even more meteoric rise this month by the newly listed AMTD Digital By Doug Young Who says U.S.-listed China stocks have become investor pariahs? Not e-commerce site…

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