Greatly Transformed Sinovac Set to Reawaken on Wall Street?

Maker of the CoronaVac vaccine for Covid-19 could soon resume trading on the Nasdaq after a nearly three-year pause, following two key legal developments Key takeaways: Two key legal developments could soon pave the way for a resumption of trading in shares of Nasdaq-listed Sinovac, ending a nearly three-year suspension Company’s revenue may have risen 80-fold or more since the suspension thanks to sales of its globally accepted CoronaVac Covid-19 vaccine By Doug Young By now, many people have heard of Sinovac Biotech Ltd. (SVA.US), the maker of one of…

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After Roller Coaster Year, Yidu Stock Settles Down Post-IPO

Big-data healthcare services provider’s operating loss widened in its latest reporting period as revenue grew 62% Key Takeaways: Yidu’s revenue rose 62% in the six months through September Company’s health management platform and solutions business grew 6.4 times in the period, becoming its biggest breadwinner By Liu Ming A “fall to earth” may best describe the ride that healthcare big data specialist Yidu Tech Inc. (2158.HK) has taken since its IPO at the start of this year. The company started the year on a turbocharged note with a 165% stock…

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Yonghe Cuts IPO Path Through Legions of Bald Men

Leading Chinese hair transplant specialist aims to raise HK$1.5 billion through Hong Kong listing Key takeaways: Yonghe Medical sees huge growth potential in transplant and other hair care services from China’s appearance-conscious growing middle class Company is floating shares at a high valuation, with a forecast P/E ratio of 85 times By Jony Ho Can an enterprise worth billions build an empire on the suffering of others? Perhaps. Hair loss often seems inevitable as people age, spelling discomfort for many. But that’s creating a huge opportunity for the few who…

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Gracell Bio Shares Tumble as Investors Blow Hot, Cold Over Its Cutting-Edge Cancer Treatment

Receipt of ‘orphan drug’ designation for company’s CAR-T cancer drug in the U.S. will bring financial incentives, but also underscores drug’s limited market potential Key takeaways Gracell Bio stands to benefit from tax credits and marketing exclusivity following receipt of ‘orphan drug’ status for its CAR-T cancer treatment Analysts see profitability several years away as competition heats up for treatment of relatively low-occurring cancer By Richard Barbarosa Gracell Biotechnologies Inc. (Nasdaq:GRCL), a Chinese company developing rapid cell therapy treatments for rare cancers, has created fits of both high hopes and…

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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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Following Rough Year, Is Burning Rock Set to Turn the Corner?

Cancer testing specialist expects sharply slower growth this year than previous guidance due to Covid-related travel restrictions Key Takeaways: Burning Rock expects fourth-quarter revenue to grow just 6% year-on-year due to latest Covid-related travel restrictions in China Cancer testing specialist’s newer in-hospital lab business could boost growth through its strong scalability potential and lower vulnerability to Covid travel restrictions By Doug Young If it were a hospital patient, cancer testing specialist Burning Rock Biotech Ltd. (BNR.US) might be best described as in “stable condition.” That seems to be the key…

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Medical Device Maker Highlights China Risk as Chinese U.S. IPOs Resume

Meihua International’s updated prospectus includes new section on Beijing’s intent to ‘exert more oversight and control’ over overseas Chinese listings Key Takeaways: Meihua International files updated prospectus highlighting China oversight risk in latest filing for its modest $57 million U.S. IPO Hotel operator Atour makes similar updated filing for U.S. IPO plan to raise $350 million, valuing the company at more than $2 billion By Doug Young It’s a new week, with yet more signs that the China-U.S. IPO pipeline is slowly creaking back to life. This time it’s a…

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China-U.S. IPO Pipeline Creaks Back to Life With Two New Listing Plans

Drug maker LianBio and hotel operator Atour each aims to raise about $350 million with separate New York listings Key takeaways: Two Chinese companies, drug maker LianBio and hotel operator Atour, are moving ahead with U.S. IPOs after a three-month pause on such listings Neither company is using the controversial VIE structure, and neither comes from the sensitive internet sector By Doug Young A year ago, the imminent IPO by Chinese company LianBio (LIAN.US) wouldn’t have drawn much attention. The biotech specialist’s offering is noteworthy for its large size, aiming…

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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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MicroTech Medical Hong Kong IPO Greeted with Yawns

Diabetes device maker’s shares go largely unchanged in first four trading days despite attracting Invesco and two other mid-sized U.S. fund managers Key Takeaways: Diabetes device maker MicroTech Medical’s shares have gone largely unchanged in their first four trading days after the company raised $250 million in its Hong Kong IPO Despite attracting U.S. giant Invesco, company is vying for investor attention with a growing field of newly listed China-focused medical device makers By Doug Young Another day, another medical IPO. That’s been a major theme for 2021 in Hong…

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