Invesco, Fidelity Hitch a Ride With Full Truck Alliance’s Supersized IPO

Trucking services leader boosts fundraising target to $1.8 billion, which could become the largest New York listing by a Chinese company this year Key points: Full Truck Alliance is well-positioned to consolidate its leading position in China’s emerging trucking services market The company’s sharp boosting of its IPO fundraising target reflects investor confidence in its strong growth and profit potential By Doug Young When it comes to big money, there’s lots to be made on China’s roads – specifically in trucking services. That’s the main message coming from Full Truck…

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Employment Bigshot Kanzhun Eyes China’s Blue-Collar Workers as Shares Soar in IPO

Company looks for success as a publicly traded jobs specialist despite lackluster performance for other listed peers Key points: Job matcher Kanzhun gets seal of approval from investors as stock soars on New York trading debut Company will need to leverage expertise to move into related areas or risk ending up like slow-growth listed peers By Ben Livesey The future of China’s post-pandemic economy may be clouded by mixed signals on growth, demand and supply, jobs and inflation. But that’s just fine with Kanzhun Ltd. (Nasdaq: BZ), an online recruitment…

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Dating App Momo Looks for Excitement With Tantan Overhaul

CEO says the laggard app it purchased in 2018 has potential for strong growth following the recent departure of its founder Key Points: Momo believes its underperforming Tantan app could grow strongly following a major overhaul now in the works Such a Tantan revival could help put Momo back on a growth track By Doug Young Many may know dating app Momo Inc. (Nasdaq: MOMO) for its moniker as the “Tinder of China,” due to its primary function as a place for people to hook up online. But a better…

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‘Fun’ Drops Out of No. 2 News Aggregator Qutoutiao

Company, whose name means ‘fun headlines,’ discloses it may be unable to repay a $171 million loan coming due early next year Key Takeaways: Controlling cashflow will be crucial for Qutoutiao in coming months as it worries over its ability to repay a $171 million loan coming due early next year Company’s big user base in smaller Chinese cities could make it an attractive takeover target By Alice Leung Its name means “fun headlines,” but investors in Qutoutiao Inc. (Nasdaq: QTT) haven’t found much fun in this news and video…

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Drug Startups Eye Quicker Profits Under China’s New Fast-Track Approvals

Key changes designed to bring cutting-edge drugs more quickly to market have yet to ignite significant rally for money-losing startups Key takeaways: New fast-track approval system could bring cutting-edge drugs to market more quickly Changes could benefit startups with quicker approvals, and by letting them work with big foreign manufacturing partners By Richard Barbarossa A recent regulatory overhaul designed to speed up development and approval of new drugs in China has been welcomed by global pharma giants and local startups alike, aimed at bringing their latest cutting-edge treatments more quickly…

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Delivery Specialist Dada Nexus Finds Growing Comfort in JD Ties

Company’s latest results reflect its growing reliance on local grocery delivery business with its majority shareholder Key takeaways: The latest signals from Dada Nexus show it’s tying its fortunes more tightly to its majority shareholder JD.com The company is emerging as the delivery arm for JD.com’s grocery business, and could even be acquired eventually by JD or one of its units    By Doug Young In China’s increasingly bloody world of delivery services, Dada Nexus Ltd. (Nasdaq: DADA) is increasingly hitching itself to its parent, e-commerce giant JD.com. That’s the biggest…

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Impulse-Buying Specialist Miniso Embarks on Major Toy Play

Mini-store operator plans big move into pricier toys and collectibles with launch of Top Toy chain Key points: Miniso is moving aggressively into specialty toy shops with its new Top Toy chain Strong investor interest in toy retailing is reflected by the high valuation for rival toy chain Pop Mart By Doug Young China’s favorite impulse buying chain Miniso Group Holding Ltd. (NYSE: MNSO) is making a major strategic shift by moving aggressively into the toy business. The move does seem to make sense for a chain like Miniso, as…

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Investment Bank China Renaissance Is Reborn on First-Quarter IPO Boom

Company’s deal volume rose six-fold in first three months of 2021, as it helped to underwrite Kuaishou’s blockbuster Hong Kong listing (Photo above of Renaissance founder Bao Fan) Key points: China Renaissance has reported a banner first-quarter on an explosion of IPOs by Chinese tech companies The investment bank faces several headwinds, including growing movement by big Wall Street banks into its backyard By Ben Livesey Boutique dealmaker and private equity investor China Renaissance Holdings Ltd. (1911.HK) has been going gangbusters this year. The self-proclaimed one-stop shop for Chinese “new…

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Investors Bet Big on Cancer Drug Infant Duality Biologics and Its Rockstar Founder

Company has raised $120 million in 18 months from A-list investors including Eli Lilly and domestic heavyweight WuXi Biologics Key takeaways Duality Biologics’ new $90 million funding just 18 months after its founding comes on the reputation of its founder and focus on a hot cancer treatment area Recent advances in antibody-drug conjugates (ADCs) have led to an uptick in drug approvals and tide of similar new fundraising By Richard Barbarossa If one person’s reputation can form the foundation for building a company, then Dr. John Zhu, whose young cancer…

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Daqo’s Secondary China IPO: Good for Daqo, But Less Clear for U.S. Shareholders

Company’s plan for dual listing on Shanghai’s STAR Market moves ahead with submission to Chinese securities regulator Key points: Daqo is at the forefront of a group of New York-listed private Chinese firms seeking secondary listings on China’s 2-year-old STAR Market The dual listing should benefit the company, but could have relatively little upside for its New York-listed shares By Doug Young Today we break from our usual discussion of corporate strategy and instead examine a growing financial strategy of Chinese companies: listing in multiple markets at once, usually combinations…

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