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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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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AiHuiShou Seeks Gold in Growing Heaps of Used Gadgets

IPO-bound recycling specialist could be valued higher than U.S. stalwart eBay on potential for its services business and international expansion Key points: AiHuiShou has strong growth potential due to its positioning as a trusted middleman facilitating the sale of used electronics Company could be valued strongly due to big growth for its service offerings and international expansion potential By Doug Young “Let the buyer beware,” is a common English saying that especially applies to used goods. When it comes to expensive items, like cars and electronics, buyers are often reluctant…

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Pet Specialist Boqii: Industry Consolidator or Forever Just a Pet Project?

Despite its industry-leading position, company controls just 2% of China’s highly fragmented pet care market expected to reach $70 billion in annual sales by 2024 Key Takeaways Boqii’s first brick-and-mortar store opening marks its latest move into “new retail” model integrating online and offline sources in pet supply chain Company faces biggest competition from generic e-commerce sellers and supermarkets By Eric Auchard Online camaraderie with fellow pet owners is nice, but there’s just no substitute for real-world touching and feeling of the thousands of products to pamper, feed and groom…

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Used Car Specialist Uxin Gets Jump Start from Shifting Gears

Shares rally as company announces first results from its new business model and Singaporean sovereign wealth fund GIC boosts stake Key points: Uxin is emerging from a major transformation to a direct seller of used cars from previous model as middleman for used-car sales While such a model carries higher margins and gives Uxin more control over the business, it also requires far more cash, which Uxin is trying to raise By Doug Young Nothing gets investors excited like a new story from an old company, together with a major…

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Conservative E-House Spruces Up With Modest Acquisition

Purchase of real estate data and services provider Tianji for $46 million is in line with approach that has kept company profitable through turbulent times Key Takeaways: E-House’s latest modest acquisition is in line with its longer-term conservative approach in China’s real estate services market That approach could protect the company from market volatility, but could also lead to its irrelevance as it gets overtaken by more aggressive peers By Doug Young China’s property market has boomed over the last two decades on the back of the country’s huge economic…

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Shared Bike Specialist Hello Inc. Could Meet Skeptical Reception on Wall Street

Company backed by Alibaba’s Ant Group continued to post large losses last year as its revenue growth slowed sharply Key Takeaways: Hello Inc.’s relatively high costs and standalone nature of its shared-bike service could make it difficult for the company to become profitable Those factors mean Hello could be valued at a medium-to-large discount compared to domestic peer Meituan and U.S. giant Uber By Doug Young Hope certainly seems to spring eternal for some people, especially those in the shared economy business. That’s one of the biggest messages coming from…

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Baozun Aims to Ease Its Alibaba Addiction With New Growth Plan

Company aims to triple revenue and boost operating profit sixfold in next three to five years Key Takeaways Baozun’s new three- to five-year “profitable growth” strategy is designed to respond to rapid shifts in e-commerce buying habits Company’s diversification bid risks unsettling close ties with Alibaba and Tmall, which account for 75% of its business By Eric Auchard Alibaba may be a good business partner, but it’s nice to work with others as well – especially as Beijing cracks down on the e-commerce giant for its monopolistic practices. That’s the…

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Meitu Looks for Makeover in Software as a Service

Popular beauty app boosts stake in SaaS specialist Meidd Technology, which supplies more than 10,000 cosmetic stores across China Key Takeaways: Meitu’s latest makeover is targeting a software as service (SaaS) model that helps retailers and brands attract buyers on its app The SaaS model seeks to convert the company’s vast user base into paying customers in its drive to deliver profitability By Eric Auchard Chinese beauty app Meitu Inc. (1357.HK) – whose business has turned appearances into a data science – is delving deeper into the economics behind the…

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