Category: Infrastructure/Resources

Autonomous Driving Tech Firm Hesai Takes Pole Position With U.S. IPO Application

The maker of light detection and ranging (LiDAR) technology could become the first major U.S. IPO by a Chinese company in more than a year Key Takeaways: By Doug Young The one-month window between the western and the lunar new years is usually a dead period for Chinese IPOs, as many candidates choose to make such listings when investors return to work after the two major holidays. But this year is shaping up quite differently, as a backlog of companies scramble to get to market in a climate that has…

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GDS Dials Up New Funds With Convertible Bond Issue

The data center operator will raise $580 million by issuing convertible notes, becoming the latest offshore-listed Chinese company to seize on positive market sentiment Key Takeaways: By Doug Young GDS Holdings Ltd. (GDS.US; 9698.HK) has become the latest to jump on a recent fundraising bandwagon of offshore-listed Chinese companies rushing to make hay while the sun shines on their stocks. The data center operator said Wednesday it will raise $580 million through the issue of convertible notes with the relatively long term of seven years. This offering looks quite similar…

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Huawei-backed Saimo Takes IPO Route Towards Driverless Tech

Saimo Technology, which provides simulation testing for autonomous driving, has filed to list on the Hong Kong Stock Exchange Key Takeaways: By Fai Pui An era of autonomous driving is dawning, as technology increasingly supplants humans at the wheel. But before intelligent cars can take to the open road, they must be proven to be safe. And that requires a mass of programming data as well as sophisticated driving simulations to put the vehicles through their paces, away from the risks of real traffic.  A Chinese provider of these testing…

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Full Truck Alliance Puts the Brakes on Hong Kong Listing Plan

The U.S.-listed truck app operator reportedly scrapped its plan for a second listing in Hong Kong due to recent improvements in the U.S. regulatory environment Key Takeaways: By Doug Young We’ll spend our final trading day of 2022 looking at a report that trucking app operator Full Truck Alliance Co. Ltd. (YMM.US) has scrapped its plan for a Hong Kong listing. If the news is correct, which seems likely, the move would represent a highly symbolic positive end to what has been a year filled with bumps and bruises for…

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EHang Encounters Capital Headwinds as Its Air Taxis Stay Grounded

A new fundraising highlights the company’s dwindling cash as it remains in the red despite progress in commercializing its aerial vehicles Key Takeaways: By Warren Yang EHang Holdings Ltd. (HANG.US) is working hard to make futuristic flying cars reality. But it’s flying into some capital headwinds in that process, potentially leading some investors to refrain from betting too big on the company. Last Friday, EHang — a maker of autonomous aerial vehicles (AAVs) that can carry passengers or deliver cargoes — said it formed a new “strategic partnership” that immediately…

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Crumbling Foundations? E-House Paints Grim Picture in Delayed Earnings Report

The real estate services provider’s first-half results highlight its dire situation as it fights for survival in China’s deeply slumping property market Key Takeaways: E-House’s first-half net loss increased about 18% from a year earlier despite significant cost cuts, as its revenue plunged more than 60% The company warned the rapid deterioration of its finances could threaten its survival By Warren Yang Much has been written about China’s struggling property developers, which are suffering as the market grapples with its first major downturn after years of breakneck growth. But the…

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Two Years After Its Initial Filing, Sancai Keeps Trying for New York IPO

The company is one of the few survivors from a former group of apartment rental specialists that later collapsed, and has transformed to a software services provider Key Takeaways: Sancai is seeking to raise up to $15 million in a New York IPO, or half the $30 million it initially targeted when it first filed for the listing two years ago The company has experienced a bumpy transition since switching from a property rental specialist to a software services provider in 2019 By Trevor Mo The word “bumpy” may best…

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ReneSola Grows on Shift to Solar Power Production

The company’s third-quarter revenue rose 86%, fueled by a doubling in revenue from its newer business operating solar power plants Key Takeaways: ReneSola’s revenue rose 86% in the third quarter, as the company transitions from solar plant builder to the more stable business of power plant operator The company holds big hopes for Europe, where it recently added three new solar farms as it starts to build a regional business as an independent power producer By Doug Young ReneSola Ltd. (SOL.US) has become a sort of solar chameleon these days,…

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