FAST NEWS:  Meitu Takes Full Control of Ruisheng Tianhe Advertising Unit

The Latest: Chinese beauty app Meitu Inc. (1357.HK) said on Sunday it will purchase the remaining 19.81% of its majority-owned Ruisheng Tianhe subsidiary from a minority shareholder group for up to HK$248 million ($31.8 million). It said it was required to make the purchase after Tianhe failed to list on a China stock exchange within a required timeframe. Looking Up: Meituan announced it would sell the stake to a minority shareholder group in December 2020, with the condition that Ruisheng Tianhe be listed in China by the end of 2022.…

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Secoo’s Contraction Slows as It Cleans Up Financial House

Online luxury goods seller was one of the biggest corporate victims of China’s Covid restrictions over the last three years Key Takeaways: By Doug Young Our first review for the New Year features a look at the latest earnings report from online luxury goods seller Secoo Holding Ltd. (SECO.US), which hopes that 2023 will be better than 2022. Then again, the same could be said for just about any Chinese company, following a miserable year, as nearly everyone suffered under the weight of the country’s tough Covid restrictions. But Secoo…

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