FAST NEWS: GCL Technology to Build New Polysilicon Plant

The latest: Polysilicon products maker GCL Technology Holdings Ltd. (3800.HK), formerly known as GCL Poly, said Monday that its board approved construction of a new plant and accompanying power supply to produce granular silicon with annual production capacity of 100,000 tons, and high-purity nano-silicon with production capacity of 150,000 tons in the city of Wuhai in the Inner Mongolia region. Looking up: Upon completion of the project, the company’s annual capacity for granular silicon and high-purity nano-silicon will increase to 500,000 tons and 300,000 tons respectively, which will help boost future revenue…

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FinVolution Picks Up the Pace in Its Global Expansion

The fintech lender announced a major boost in the size of the borrowing facility from its Indonesia partner, though the expanded amount is still small at around $30 million Key Takeaways: FinVolution has announced a major expansion in the size of its borrowing facility from Indonesian partner PT Bank Jago The fintech lender still gets a miniscule part of its business from outside China, with international loans accounting for just 2% of its lending transaction volume By Doug Young Every journey begins with a single step, especially when that first…

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Hony Capital Switches SPAC IPO Focus from U.S. to Hong Kong

Everest Acquisition Corporation, a SPAC launched by leading private equity firm Hony Capital and the state-owned Agricultural Bank of China, has filed for an IPO on the Hong Kong Stock Exchange Key Takeaways: Everest Acquisition Corporation, a SPAC co-funded by Hony Capital and ABCI Capital, applied to list in Hong Kong with the aim of acquiring companies in the healthcare, consumer goods and green sectors In April this year Hony Capital scrapped a bid to list another SPAC, Hony Capital Acquisition, in the U.S. and has turned instead to the…

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