FAST NEWS: LX Technology Declines after Popping on Trading Debut

The latest: LX Technology Group Ltd. (2436.HK), a renter and seller of refurbished IT equipment, opened in Hong Kong with an initial 3.9% rise from its IPO price of HK$7.60 in its trading debut on Thursday. Looking up: The local portion of the company’s offering was subscribed by 9,672 investors for a total of 32.8 million shares, representing an oversubscription rate of 5.61 times. Take Note: The international portion of the listing was only fully subscribed and priced at the bottom of the IPO price range of HK$7.60 to HK$8.74.…

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Geely-Powered Mobility-Tech Firm Ecarx Nears Finish Line for U.S. Listing

The London-based smart car technology company with strong connections to China is the latest piece in Geely’s global auto ambitions Key Takeaways: Geely-backed Ecarx says it expects to complete its U.S. SPAC listing by the end of this year, valuing the listed company at about $3.8 billion Founded just five years ago, the smart car technology maker earned $415 million in revenue last year, mostly from Geely and its related companies  By Jose Qian Start your engines: A new “made in China” option for investors looking to tap a developing…

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Sagging Profits Take the Shine off Beauty Farm’s IPO

Earnings at the beauty and health company were badly hit by Covid disruption in the first half of the year Key Takeaways: Beauty Farm Medical and Health had to shut many of its salons in Chinese cities when Covid struck in the first half of the year, sending its net profit plunging nearly 80% With its valuation squeezed, the company might struggle to hit a $300 million fundraising target By Emily Chan Beauty may be big business in China, as incomes rise and social media puts an added premium on…

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