FAST NEWS: Weimob Says Business ‘Recovered Rapidly’ After Shanghai Lockdown

The latest: E-commerce services provider Weimob Inc. (2013.HK) said late on Thursday that its business “recovered rapidly” following the easing of the pandemic in Shanghai, where the company is based. It added that its overall operation is performing well. Looking Up: The company also pointed out its shareholders authorized a repurchase agreement at its latest annual general meeting at the end of June, allowing the company to purchase up to 10% of its issued shares to support the stock. Take Note: Weimob issued its announcement in response to recent “unusual…

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AIM Vaccine Shrinks Its IPO But Gives Chairman a Mega Paycheck

China’s second-largest maker of non-Covid vaccines has finally crossed the IPO finish line and will list its shares next Thursday Key Takeaways: AIM Vaccine is finally landing on the Hong Kong Stock Exchange at its third attempt, but has only issued 0.8% of its total share capital, raising a net HK$70 million The company issued equity incentives worth a whopping 900 million yuan to its chairman before going public, and swung from profit to loss last year By Molly Wen The biopharma sector has been one of the biggest casualties…

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Stumbling Jiumaojiu Coughs Up Big Bucks for Local Mega-Mall

Operator of the popular Tai Er ‘Sauerkraut Fish’ restaurant chain will invest up to $140 million in the IFC Mall Project in its hometown of Guangzhou Key Takeaways: Jiumaojiu said it will pay up to $140 million for 26% of the company developing the Guangzhou IFC Mall Project, which will become its new headquarters The move comes as the company’s own finances show sign of stress, including a 23.2% drop in same-store sales for its core Tai Er restaurant chain in the first half of the year By Doug Young…

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FAST NEWS: Simcere Pharmaceutical Grants Overseas Rights for Drug Candidate

The latest: Simcere Pharmaceutical Group Ltd. (2096.HK) announced Thursday that it granted Almirall S.A. exclusive rights to develop and commercialize its autoimmune drug candidate SIM0278 outside of Greater China. Looking up: Simcere will receive a $15 million upfront payment and up to another $492 million in development and commercialization milestone payments based on the success of Alirall’s efforts to develop SIM0278 outside China. Take Note: SIM0278 is only a drug candidate and that must still undergo clinical trials, meaning it is still a long way from being commercialized. Digging Deeper: Founded in…

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