Genscript Bio Gets Booster from Subsidiary’s New Cancer Drug

The company’s Legend Biotech unit has found recent success with Carvykti, a chimeric antigen receptor T-cell (CAR-T) therapy, which earned $134 million in its first nine months on the market Key Takeaways: By Emily Chan The good news is coming thick and fast these days for Genscript Biotech Corp. (1548.HK). In early January, it disclosed that China’s National Medical Products Administration (NMPA) accepted its new drug application (NDA) for Cilta-cel , a chimeric antigen receptor T-cell (CAR-T) therapy being developed by its Legend Biotech (LEGN.US) subsidiary. Last Wednesday, it announced…

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Structure Therapeutics Hopes to Wow Investors With Cutting-Edge Drug Tech

The maker of G-protein-coupled receptor (GPCR) drugs will raise more than $100 million in its IPO this week, making it the first major U.S. listing by a Chinese company this year Key Takeaways: By Doug Young The march of new Chinese IPOs in New York continues this week with Structure Therapeutics Inc., which will become the biggest new listing from this group in more than a year with its trading debut set for later this week under the symbol GPCR. The symbol refers to the G-protein-coupled receptor (GPCR) treatments at…

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JL Mag Steps Up R&D Spending as Growth Slows

The world’s top producer of rare earth magnetic materials said its revenue and profit growth slowed in the second half of last year, as sales to one of its key customer groups also slowed Key Takeaways: By Doug Young  Some new data from JL Mag Rare-Earth Co. Ltd. (6680.HK; 300748.SZ) is showing that both revenue and profit growth are slowing for the world’s leading maker of rare earth magnetic materials used in new energy vehicles (NEVs), wind turbines and some air conditioners. That isn’t a huge surprise, since the booming…

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Fashion Retailer KK Group Stitches Up Revived IPO Plan

The popular clothing chain operator has restarted its plan to list in Hong Kong, seizing on hopes for China’s post-Covid economic recovery Key Takeaways: By Fai Pui A pair of sister brands have taken Chinese shopping malls by storm these last few years, their yellow and pink motifs making them “celebrity” fashionistas that have attracted not only shoppers, but also investors. The yellow KKV is the racier of the pair, selling fast fashion products. Meantime, the softer pink Colorist chain peddles affordable cosmetics. Their parent, KK Group Co. Holdings Ltd.,…

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Luckin Comeback Percolates at Full Steam With Reported Global Expansion

Media reports say the scandal-tainted coffee chain is looking to expand into Southeast Asia as it continues to rapidly open new stores at home Key Takeaways: By Warren Yang Luckin Coffee Inc. (LKNCY.US) is roaring back to reclaim a place in the Chinese coffee shop, less than three years after a huge accounting scandal pushed it to near-collapse. The way things are brewing, the company could even pull off a re-listing in New York much sooner than anyone anticipated – capping what would be a remarkable turnaround after its earlier…

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Kappa’s China Franchisee Stumbles in Race for China Sportswear Market

China Dongxiang took a big hit from Covid last year, but has been gradually falling further behind its local rivals as Chinese increasingly opt for homegrown brands Key Takeaways: By Ken Lo It may be an also-ran in the west, but Kappa counts itself as one of China’s top three international sports brands, alongside Nike (NKE.US) and Adidas (ADS.DE). That distinction owes to the efforts of China Dongxiang (Group) Co. Ltd. (3818.HK), which acquired China rights to the century-old Italian brand before the Beijing 2008 Olympics. But Kappa stumbled badly…

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Sihuan Pharma’s Botox Beauty Bid Suffers Covid Wrinkle

The cardiovascular and cancer drug maker’s recent shift to the medical beauty business was doing well at first, but struggled last year Key Takeaways: By Molly Wen China’s relentless drive to make drugs more affordable through centralized buying and other policy moves is pushing generic drug makers, whose products already carry famously thin margins, in different directions to ensure their future viability. Some leaders like Hengrui Medicine (600276.SH) and Chia Tai Tianqing Pharmaceutical are investing heavily in development of their own drugs, while others like CSPC Pharmaceutical (1093.HK) are licensing…

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New Ruipeng Trots Out ‘Pet Project’ IPO

China’s largest provider of pet products and services could raise as much as $400 million from its plan to list in New York Key Takeaways: By Doug Young A new “pet project” is trotting its way from China to Wall Street, with potential to become the biggest new Chinese IPO in New York in more than a year. This particular project comes from New Ruipeng Pet Group Inc., which looks like an interesting bet on the huge potential of China’s fast-growing pet market. That’s because the company is head-and-tail above…

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361 Degrees Outruns Its Peers. Now It’s Waiting for Investors to Notice

Despite outperforming its rivals in fourth-quarter sales growth, the sportswear retailer still trails its flashier peers in valuation and share performance Key Takeaways: By Tina Yip Sportswear maker 361 Degrees International Ltd. (1361.HK) is the underdog in its class, vying for attention in a crowded field of higher-profile names like Li Ning Co. Ltd. (2331.HK), Anta Sports (2020.HK) and Xtep International (1368.HK). First, the company was hoping to get noticed as the official sports apparel sponsor of the 19th Asian Games, which were set to be held in the picturesque…

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