FAST NEWS: Mid-sized U.S. Investor Increases Tongcheng Travel Stake

The latest: Mid-sized U.S. fund manager Brothers Harriman & Co. disclosed it purchased 7.155 million shares in Tongcheng Travel Holdings Ltd. (0780.HK), raising its stake to 5.3%, above the 5% threshold that requires it to disclose its holdings, according to a new Hong Kong Stock Exchange filing. Looking up: Despite reporting a loss in the first-half of the year, Tongcheng’s growing investment from Brothers Harriman probably reflects the shareholder’s confidence in the company’s prospects. Take Note: Brown Brothers Harriman previously reduced its stake in Tongcheng by 326,000 shares on Aug. 22, the…

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IT provider Edianyun Seeks IPO Cash, with Finances Under a Cloud

China’s largest provider of integrated business IT solutions, Edianyun, recently re-filed to list on the Hong Kong Stock Exchange, but a ballooning first-half loss of 625 million yuan is a major concern Key Takeaways: The pre-listing finances at Edianyun have taken a sharp turn for the worse, as the company’s net loss in the first half of this year alone is almost equal to the total combined losses of the previous three years The company relies on the leasing of computer and office equipment and is under strong capital pressure…

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UP Fintech Flexes Global Expansion Muscle With NYSE Membership

In its latest move to expand outside China, the online brokerage has become a member of the world’s largest stock exchange  Key Takeaways: UP Fintech’s TradeUP Securities unit has become a member of the New York Stock Exchange, giving its customers direct access to the bourse to enable faster trades at lower costs The company has been expanding outside China to reduce reliance on its home market where it’s subject to a long list of ever-changing regulations  By Warren Yang Online brokerage UP Fintech Holding Ltd.’s (TIGR.US) list of global…

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