SPONSORED: Tongcheng Travel Revenue Rises on Strong Accommodation and Bus Ticketing Businesses

The online travel agent’s revenue grew 5.6% in the third quarter, as average monthly paying users surged to a record high The resurgence of Covid-19 in cities across the mainland starting from late August 2022 has disrupted the recovery of China’s domestic travel industry seen in July and August 2022. Against this backdrop, Tongcheng Travel (0780.HK), an innovator and leader in China’s online travel industry, managed to deliver solid user growth on a 5.6% revenue increase during the third quarter of 2022, thanks to rapid growth in its accommodation and…

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Star-Backed MedSci Healthcare Takes New Stab at IPO

The online physician platform that counts Qiming and Tencent as investors has made its second filing for a Hong Kong listing Key Takeaways: MedSci Healthcare has filed a second application for a Hong Kong IPO less than a month after its original application expired Tencent invested 300 million yuan in the company last year, raising its valuation to 4.3 billion yuan By Tina Yip It was a sellers’ market for much of the last two years if you had shares to offer in anything even remotely connected to the world…

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FAST NEWS: High Costs Keep GDS in the Red

The latest: Independent data center operator GDS Holdings Ltd. (GDS.US; 9698.HK) reported its net loss widened by 12.6% year-on-year to 339 million yuan ($47.4 million) in the third quarter, marking its ninth consecutive quarterly loss. Looking up: The company’s third-quarter net revenue increased by 14.9% to 2.37 billion yuan, and customer commitments and pre-commitments for space at its data centers increased by 16% to 618,369 square meters compared to the same period last year. Take Note: The company’s cost of revenue increased 16.7% year-over-year and 1.8% quarter-over-quarter to 1.88 billion…

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Fosun Seeks Club Med Investors to Plug Its Own Financial Holes

The debt-plagued financial conglomerate is reportedly looking for a third party to buy some or all of its majority stake in Fosun Tourism, owner of the French resort chain Key Takeaways: Debt-strapped Fosun is reportedly seeking to raise cash by bringing in a major outside investor for its tourism unit, whose crown jewel is the Club Med resort chain Club Med accounted for about 80% of Fosun Tourism’s business in the first three quarters of 2022, as the chain rebounded sharply on easing Covid restrictions outside China By Doug Young…

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