Overseas expansion is becoming critical for the pair of online brokers after China’s securities regulator said their cross-border trading services for mainland investors were illegal Key Takeaways: By Warren Yang Online stock brokers UP Fintech Holding Ltd. (TIGR.US) and Futu Holdings Ltd. (FUTU.US) are learning the hard way that taking chances with Chinese regulators isn’t the best idea, as a time bomb that was ticking for more than a year finally blew up in their face. As that lesson sinks in, the pair’s ongoing drive to move more of their…
Read More » /*!-- Ideo Concepts deletedCategory: Finance
CHINA BULLETIN: China Rolls Out the Welcome Mat for Foreigners
In this week’s issue China reopens to foreigners, industrial profits slump and a former beauty salon chairman gets a haircut in prison. On a scale of 1 to 10, we give the week a 6 for offshore-listed China stocks.
Read More » /*!-- Ideo Concepts deletedCHINA BULLETIN: It’s the Economy, Stupid, Part 2
In this week’s issue it’s all about the economy in 2023, and “Avatar” swims to the top of China’s box office. On a scale of 1 to 10, we give the week a 5 for offshore-listed China stocks.
Read More » /*!-- Ideo Concepts deletedFanhua Decides to Stay on Wall Street, Citing Improving U.S.-China Climate
The insurance broker’s founder withdrew his privatization bid launched a year ago, saying the risk of Chinese companies being forced to de-list from New York has been ‘substantially’ reduced Key Takeaways: By Doug Young At first glance, Chinese insurance broker Fanhua Inc.’s (FANH.US) new announcement of the withdrawal of a bid to privatize the company looks like more of the same. Such on-again-off-again privatization announcements have become common among U.S.-listed China stocks over the last two years as the group came under an unprecedented series of assaults from both Beijing…
Read More » /*!-- Ideo Concepts deletedEarly CICC Backer Trims Stake as Profit Shrinks for First Time in Six Years
Haier, which once owned about 10% of China’s oldest western-style investment bank, disclosed it has cut its stake to 6.32% Key Takeaways: Appliance giant Haier has cut its longtime stake in CICC, which is set to post its first annual profit decline since China’s market crash of 2016 Future growth for China’s leading investment bank is being constrained by geopolitical tensions and capital requirements By Shen Ruzhen Ahead of China International Capital Corp.’s (CICC) (3908.HK; 601995.SH) highly anticipated Shanghai listing in late 2020, an investment vehicle of home appliance…
Read More » /*!-- Ideo Concepts deletedCHINA BULLETIN: All About Covid
In this week’s issue China stares at a Covid Christmas, while a major auto show drives on in Guangzhou. On a scale of 1 to 10, we give the week a 6 for offshore-listed China stocks.
Read More » /*!-- Ideo Concepts deletedU.S. Gives High Marks to First Inspections of New York-listed Chinese Companies
The U.S. securities regulator’s accounting arm said it obtained ‘complete access’ to companies it targeted under a landmark information-sharing agreement reached in August Key Takeaways: The PCAOB gave a positive review of its trial inspections of two China-based accountants under a landmark U.S.-China information sharing deal The positive assessment eases the likelihood of forced de-listings for the group of more than 200 companies By Doug Young Perhaps it got lost in the flood of news about China’s sudden relaxation of its “zero Covid” policy. Or perhaps it was overshadowed by…
Read More » /*!-- Ideo Concepts deletedBit Mining in Race to Roll Out New Mining Machines Before Cash Evaporates
The cryptocurrency miner announced a 10-for-1 reverse share split to avoid delisting, but faces a far larger threat from its dwindling cash reserves Key Takeaways: Bit Mining’s cash stood at $12.5 million at the end of September, roughly half the level from three months earlier, despite raising $20 million in July and August The company is racing to roll out a new line of mining machines to diversify from the less-reliable business of generating revenue from its own cryptocurrency mining By Doug Young What’s shrinking even more rapidly than bitcoin?…
Read More » /*!-- Ideo Concepts deletedCHINA BULLETIN: Reopening at Lightning Speed
In this week’s issue China’s reopening accelerates, trade tanks, and Alibaba founder Jack Ma abandons entrepreneurs in his home province of Zhejiang. On a scale of 1 to 10, we give the week an 8.5 for offshore-listed China stocks.
Read More » /*!-- Ideo Concepts deletedCHINA BULLETIN: Will They or Won’t They: China’s Mysterious Covid Policy
In this week’s issue talk of relaxing China’s Covid policy takes center stage, as car sales and the latest PMI sputter. On a scale of 1 to 10, we give the week a 6.5 for offshore-listed China stocks.
Read More » /*!-- Ideo Concepts deleted