Finance

BeiGene Seeks Historic Third Listing in Shanghai, Complementing US and HK

The 11-year-old money-losing biotech has filed for a listing on Shanghai’s STAR Market to raise more than $3 billion Key Takeaways: BeiGene will become the world’s first stock to be simultaneously listed in the U.S., Hong Kong and on one of China’s A-share markets Some analysts believe that a strong valuation for BeiGene’s new A-share listing could help to boost its stock price in the U.S. and Hong Kong By Jony Ho Biotech firm BeiGene Ltd. (BGNE.US; 6160.HK) will soon become the world’s first stock listed in New York, Hong…

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FinVolution Solidifies New Growth Path After Weathering Fintech Clampdown

Company’s latest quarterly results show it’s bouncing back strongly from regulatory overhaul for former P2P lenders Key takeaways: •      FinVolution’s user base increased sharply in the third quarter, leading to 41% revenue growth •      The company posted only a small net profit gain because of swelling costs By Warren Yang FinVolution Group (FINV.US) is making respectable strides as it rises from the ashes of its former life as a peer-to-peer (P2P) lender. The company is spending heavily to grow under a new business model as an online loan facilitator, following…

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360 DigiTech Earns ‘Survivor’ Title After Latest Regulatory Wave

After transforming from direct lender to loan facilitator, the fintech led by ‘internet bad boy’ Zhou Hongyi has found a way forward in the face of regulatory headwinds Key Takeaways: 360 DigiTech has reported strong third-quarter results, with both turnover and net income posting solid gains Investment banks are optimistic on the company, with Morgan Stanley raising its target price to $54 – nearly double the current share price By Fai Pui Following Beijing’s determination to clean up China’s fintech sector, “survival” has become the mantra for all companies in…

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Yeahka in Acquisition to Boost In-Store E-commerce Business

Grappling with intense competition in the payment industry, company bets on technology-enabled services with potential to jumpstart growth Key Takeaways: Yeahka is paying 100 million yuan for 60% of consumer e-services provider Qianqianhui, aiming to boost its in-store e-commerce business Company’s in-store e-commerce business earned 45 million yuan in the first half of 2021, following launch last December By Fai Pui Chinese mobile payment services provider Yeahka Limited (9923.HK) said this week it has agreed to inject 100 million yuan ($15.6 million) into Qianqianhui, a provider of in-store e-commerce services.…

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OneConnect’s New Win in Promising Indonesian Market Fails to Impress Investors

Technology as-a-service provider’s shares dropped more than 3% on the day it announced a new business contract with PT Bank Mayapada Key takeaways: •      OneConnect signs new partnership to assist in the digitalization of Indonesia’s PT Bank Payapada •      Finding customers unrelated to OneConnect’s de facto parent Ping An is crucial for it to reduce the risk of relying too heavily on one customer By Warren Yang The misery never seems to end for investors in OneConnect Financial Technology Co. Ltd. (OCFT.US). Its shares keep sagging even when the company…

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UP Fintech Steps Up Diversification Drive in Face of Regulatory Uncertainty

Company also known as Tiger Brokers announces major new developments in Hong Kong and Singapore as its stock takes a beating on official reports questioning its operations Key Takeaways: UP Fintech’s shares have lost a third of their value following a series of official comments expressing concerns about the company’s operations Company’s latest moves in Hong Kong and Singapore are part of a drive to diversify its business beyond selling overseas-listed stocks to Chinese investors By Shirley Lau Crouching may be a good defensive posture to assess the landscape when…

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Xiaobai Maimai Eyes Cancer Treatment as E-Commerce Pivot Sputters

Former P2P lender’s stock soared up to tenfold after announcement of latest shift, but later gave up much of the gains Key Takeaways: Xiaobai Maimai, the former P2P lender known as Hexindai, is making a radical move into cancer treatment in the U.S. The shift comes after the company struggled to generate revenue from social e-commerce By Warren Yang What do you do when your original peer-to-peer (P2P) lending business becomes the subject of an intense government clampdown? Turn to the less controversial e-commerce sector. And when you discover that’s…

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FinVolution Tests Regulatory Tolerance With First Asset-Backed Securities Issue

Online loan facilitator issues 200 million yuan worth of ABS months after Ant Group scrapped plan for much larger similar offering Key Takeaways: •      Online loan facilitator FinVolution has issued its first batch of 200 million yuan worth of asset-backed securities as a new form of fundraising tool •      Move comes four months after the larger Ant Group canceled a much larger ABS sale totaling 18 billion yuan By Warren Yang Online loan facilitator FinVolution Group (FINV.US) is undergoing its own low-key revolution in China’s fintech realm, quietly adding asset…

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Share Buybacks Bring Mixed Results for Smart Share Global, Cloopen

Two China tech firms are the latest in a recent string to announce share repurchases with hopes of boosting their sagging stocks Key points: Smart Share Global’s shares surged after it announced a $50 million stock buyback plan, while Cloopen’s were largely unchanged after it separately unveiled a similar plan Purchasing by a major institutional buyer may have fueled Smart Share Global’s surge, as such big buyers look for bargains among depressed Chinese shares   By Doug Young It could well be called “A Tale of Two Buybacks.” A day…

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Waterdrop Stock Splashes to New Depths in Summer of Regulatory Cleanups

Company’s shares are down 22% since release of its latest results showed a swing back to an operating loss as marketing costs soared Key Takeaways: •      Waterdrop posted healthy gains in revenue and paying customers in the second quarter, but swung back to an operating loss as sales and marketing costs soared •      Company’s shares are down more than 75% since their April IPO due to a combination of widening losses and regulatory concerns By Thomas Zhang Nobody wants to see their investment evaporate more than 75% in just four…

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