FAST NEWS: H World Raises $260 Million in Share Placement

The latest: Hotelier H World Group Ltd. (HTHT.US; 1179.HK) on Tuesday announced it will raise $260 million by selling 6.19 million American depositary shares (ADSs), or about 1.95% of its enlarged share capital, at a price of $42 each. Looking up: H World will use the funds to enhance the competitiveness of its hotel portfolio and develop its regional-based operating model in the post-Covid era, as well as for investing in technology infrastructure and its supply chain ecosystem. Take Note: The sale price represents a 4% discount to H World’s closing price the…

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Prominent Meitu Investor Trims Stake After Years of Only Filtered Profits

Lee Kai-Fu, a former senior Google executive-turned-venture capitalist, has slashed his stake in the beauty app operator as it continues struggling to turn a profit Key Takeaways: By Warren Yang Beauty app maker Meitu Inc. (1357.HK) can touch up its financial reality only so much for investors who have waited years for the company’s first real profits. One prominent investor may be losing patience with the company as it continues to lose money years after it went public, causing its shares to sag to well below where they traded at…

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Huawei-backed Saimo Takes IPO Route Towards Driverless Tech

Saimo Technology, which provides simulation testing for autonomous driving, has filed to list on the Hong Kong Stock Exchange Key Takeaways: By Fai Pui An era of autonomous driving is dawning, as technology increasingly supplants humans at the wheel. But before intelligent cars can take to the open road, they must be proven to be safe. And that requires a mass of programming data as well as sophisticated driving simulations to put the vehicles through their paces, away from the risks of real traffic.  A Chinese provider of these testing…

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