FAST NEWS: Fosun Tourism Announces Chairman’s Resignation, New co-CEO

The latest: Resort operator Fosun Tourism Group (1992.HK), owner of the Club Med resort chain, disclosed Monday its chairman and CEO Qian Jiannong has resigned and been appointed as honorary chairman of the board for life, and was re-designated as a non-executive director. Non-executive director Xu Xiaoliang was appointed chairman and re-designated as an executive director, while Henri Giscard d’Estaing was appointed as co-CEO. Looking up: Xu is the executive director and co-CEO of Fosun Tuorism’s parent Fosun International (0656.HK). Thus, his appointment to the top position at Fosun Tourism may indicate Fosun…

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At Cusp of a Turnaround, Weimob Finds Bargain in Its Own Beaten-Down Stock

The provider of e-commerce services to small and medium-sized enterprises wins back market favor after a third-quarter business rebound Key Takeaways: Weimob’s SaaS orders rose 30% year-over-year in the third quarter, as it logged a 30% quarter-on-quarter jump in gross advertisement billings The e-commerce software provider has bought back its shares nine times in the last month and received a vote of confidence from JPMorgan, which recently boosted stake in the company By Ken Lo E-commerce software as a service (SaaS) provider Weimob Inc. (2013.HK) has felt the pain of…

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Lanvin Nears Completion of U.S. SPAC Listing. Now the Work Begins

The luxury arm of debt-challenged financial conglomerate Fosun looks set to complete its New York listing by year-end, with an aim of breaking even by 2024 Key Takeaways: Lanvin Group’s plan for a SPAC listing has moved a step closer to completion with the setting of a Dec. 9 vote on the deal by the SPAC’s shareholders The company recorded impressive overall revenue growth in the first half of this year, but results were less stellar for the important Greater China market By Trevor Mo As the debt-strapped Fosun International…

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