FAST NEWS: YTO International Says Profit Plunged Last Year

The latest: Delivery and logistics company YTO International Express and Supply Chain Technology Ltd. (6123.HK) said on Monday it expects to report its net profit last year dropped by about 50% due to a decrease in revenue and increasing competition. Looking up: The company was able to remain competitive despite the growing supply of air and sea cargo space in the second half of last year, but only by lowering its prices. Take Note: YTO blamed declining demand for air and sea freight services for its profit decline, partly due…

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Is Former CStone Chairman the Medicine Ailing Hengrui Needs?

Hengrui Medicine started the New Year by naming CStone’s previous top official Jiang Ningjun as its new vice general manager and chief strategy officer. Key Takeaways: By Molly Wen 2022 was a year that pharmaceutical giant Jiangsu Hengrui Medicine Co. Ltd. (600276.SH) would probably rather forget. Its management underwent a major shakeup, leaving its revenue, profit and investor confidence in tatters as its stock fell to a four-and-half-year low. Seeking medicine to reverse its decline, the company unveiled a heavyweight executive move on Jan. 2 with the announcement that Jiang…

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Weimob to Raise $205 Million in Campaign to Jumpstart Growth

The provider of e-commerce software tools is the latest Hong Kong-listed company selling new shares to seize on strong market sentiment towards Chinese stocks Key Takeaways: By Trevor Mo A desire to seize on positive market sentiment looks like the driving factor behind e-commerce services provider Weimob Inc.’s (2013.HK) announcement of a large fundraising plan through a new share issue last Friday. But below that appearance, a strong desire to return to the heady growth of earlier days could be the bigger motivator behind the software as a service (SaaS)…

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