FAST NEWS: Anta Stumbles in Fourth Quarter

The latest: Sportswear retailer Anta Sports Products Ltd. (2020.HK) announced on Wednesday that retail sales of its Anta-branded products fell by a high single-digit amount in last year’s fourth quarter, while its Fila-branded products recorded a low-teens percentage decline. Looking up: While its two core brands declined, combined retail sales of Anta’s other brands, which include Descente and Kolon Sport, grew by low-teens percentages in the fourth quarter. Take Note: Like other traditional retailers, Anta was forced to temporarily close many of its brick-and-mortar stores at various times last year…

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After Ditching Promising Drug, Everest Medicines Bets on mRNA

The drug maker surprised investors last year when it halted its tie-up with Gilead to develop the breast cancer drug Trodelvy. Now it says it will focus on mRNA vaccines Key Takeaways: By Ken Lo Late last month, an mRNA vaccine production facility in Zhejiang province’s Jiashan county quietly launched operations. While the event may have gone largely unnoticed, the facility’s 900 million yuan ($130 million) price tag represents the biggest investment for Everest Medicines Ltd. (1952.HK) since the company’s surprise decision last year to abandon Trodelvy, an antibody-drug conjugate…

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Is Fosun Set to Rise Again as China Reopens?

The debt-heavy conglomerate announced a fresh $1 billion in asset sales last week, as growing signs emerge that its looming debt crisis of 2022 may be receding Key Takeaways: By Chen Ruzhen On the last evening of 2022, Guo Guangchang, chairman of conglomerate Fosun International Ltd. (0656.HK), visited a lantern festival at Yu Garden, the famous Shanghai tourist attraction operated by one of his company’s units. The rags-to-riches billionaire made New Year’s wishes that life would return to normal in China, and that Fosun’s global partners could visit a country…

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