FAST NEWS: Many Idea Cloud Blows Hot and Cold on Hong Kong Trading Debut

The latest: Many Idea Cloud Holdings Ltd. (6696.HK), a digital marketing services provider, made its trading debut in Hong Kong on Wednesday with an opening price of HK$2.91, representing an initial 48.5% surge from its IPO price of HK$1.96. Looking up: The local portion of the company’s offering was subscribed by 1,296 investors for a total of 44.9 million shares, representing an oversubscription rate of approximately 1.81 times. Take Note: The international portion of the listing was only 1% oversubscribed and priced at HK$1.96, close to the lower end of the IPO price…

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IPO-bound Sipai Health Languishes in the Red Despite Insurance Bonanza

The provider of popular “Hui Min” health insurance is unlikely to get a high IPO valuation even though it is backed by premium investors such as Tencent Key Takeaways: Sipai Health Technology has filed to list in Hong Kong for a third time, despite piling up losses of over 5.7 billion yuan since 2019 and being unlikely to turn a profit any time soon The company offers a wide range of digital healthcare and pharmacy services, with its high-margin insurance business attracting market interest and concern By Ellie Si In…

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Autohome Rides Government-Fueled Boom in Car Sales That May Prove Temporary

The internet auto trader benefitted nicely from a recovery in car sales in the third quarter, powered by various government incentives Key Takeaways: Autohome’s revenue increased 4.5% year-on-year in the third quarter, representing the first growth since the start of 2021 China’s car sales recovered strongly in the third quarter, but the momentum may not last as the effect of government sweeteners that helped to fuel the rebound start to fade By Warren Yang Online car trader Autohome Inc. (ATHM.US; 2518.HK) is riding a recovery in China’s car market, fueled…

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