Loss-hit Fenbi Tech Seeks IPO Cash After Education Sector Upheaval

The slimmed-down provider of tutoring for civil service exams and vocational training has filed to list on the Hong Kong Stock Exchange for the second time Key Takeaways: Fenbi Technology has posted losses of more than 2.5 billion yuan in the past two years after shifting from online into offline training The company laid off more than 9,400 employees and cut staff salaries to ease financial pressure By Fai Pui A year after a tutoring crackdown shattered China’s prosperous education sector, the still viable pieces of the business are seeking…

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China IPO Flow Picks Up in New York, But Big Names Still Absent

Four Chinese companies have submitted new or updated prospectuses for New York listings over the last 10 days, though all are relatively small Key Takeaways: Four Chinese companies have submitted New York IPO applications since Sept. 6, indicating such listings could be accelerating after a near standstill over the past year Major new U.S. IPOs by Chinese firms probably won’t resume until the U.S. securities regulator provides an update in December on a new information deal with its Chinese counterpart By Doug Young After months at a trickle, the flow…

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Property Downturn Undermines Onewo in Run-up to Hong Kong IPO

The real estate management spin-off of property giant Vanke has been approved to list in Hong Kong and reportedly aims to raise at least $2 billion Key Takeaways: Property management firm Onewo, which is boasting high-tech elements, could become the largest IPO in Hong Kong this year Underperformance by its industry peers has undermined company’s chances of getting a strong valuation By Emily Chan It’s boasting high-tech credentials, as it aims to make what could become Hong Kong’s largest IPO so far this year. But the property management arm of…

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Despite the Hype, 3D Printing Leader UnionTech Remains a Fundraising Minnow

Company raised a modest $28.8 million in its latest funding round, as its general manager predicted the niche industry could be at a ‘tipping point’ Key Takeaways: Leading 3D printing equipment maker UnionTech has raised a modest $28.8 million in its latest funding, as it expands into businesses across the 3D printing value chain The company will need to expand its market presence into more industries and improve its technology as it enters its next development phase ahead of a planned IPO, By Trevor Mo After years of remaining mostly…

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Neusoft Medical Sets Sights Again on HK IPO, With Business Risks in Focus

Neusoft Medical Systems, a leading Chinese provider of medical imaging equipment, has filed to list on the Hong Kong Stock Exchange for a third time Key Takeaways: Neusoft Medical has taken several twists and turns on the IPO road, reversing out of an earlier bid to join Shanghai’s STAR Market and now making a third attempt to list shares in Hong Kong The company’s business picture is dotted with risks from falling R&D spending in relation to revenue, rapidly rising sales costs, and a reliance on distributors By Ellie Si…

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With Only One Star in Its Sky, Era Jade Media Eyes Hong Kong IPO

Nearly 65% of the integrated marketing services provider’s revenue in the first half of the year was linked to its CEO and star broadcaster Key Takeaways: Integrated marketing services provider Era Jade Media, famous for its self-produced finance programs, has filed for a Hong Kong IPO for a fourth time The company is extremely reliant on its CEO, who was behind 64.6% of the company’s revenue in the first half of this year By Tina Yip His name may be unfamiliar to most westerners, but Ma Hongman is practically synonymous…

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Jianzhi Education Debuts Like Meme, But Then Gets Lesson in Gravity

The adult education materials provider’s stock rose by as much as a factor of 25 on its first trading day, but since then has returned to near its IPO level Key Takeaways: Jianzhi Education’s big first-day jump, followed by gradual declines back to its IPO price, signal the recent parade of China meme stocks on Wall Street could be losing steam The IPO is unlikely to signal a major resumption of New York listings by Chinese firms despite a landmark agreement last week between the U.S. and Chinese securities regulators…

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MingMed Biotech Joins Queue of Revenue-less Drug Startups Seeking IPO Cash

It has seven drugs under development but none on the market yet. But one thing MingMed Biotech has plenty of is losses Key Takeaways: With no drug revenues and growing R&D costs, MingMed Biotechnology plans to feed its cash-burning machine with a Hong Kong IPO Company has seven drugs in development, including six in the clinical stages By Ellie Si Despite nary a penny to their top line, a steady string of money-hemorrhaging Chinese innovative drug makers have lined up to list in Hong Kong since the city permitted the…

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Catching Listing Chill, Dingdang Health Slashes Hong Kong IPO

China’s third largest digital retail pharmacy has been approved for a Hong Kong IPO, but cut the size by 90% from an earlier target Key Takeaways: Dingdang Health has passed a listing hearing in its second try at a Hong Kong IPO, aiming to raise $100 million The company has shifted from its original asset-light to a more asset-intensive model to make good on its promise of faster deliveries By Emily Chan Hong Kong is finally opening the door for digital retail pharmacy Dingdang Health Technology Group Ltd., approving the…

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GigaCloud Joins Wall Street Parade of China Meme Stocks

B2B e-commerce company’s shares quadrupled on their first trading day, even as its profits and margins are falling Key Takeaways: GigaCloud’s shares quadrupled in their New York trading debut, as the company became the latest newly listed Chinese stock in the U.S. to post massive early gains The B2B e-commerce company appears to be the latest meme stock on Wall Street, following an even more meteoric rise this month by the newly listed AMTD Digital By Doug Young Who says U.S.-listed China stocks have become investor pariahs? Not e-commerce site…

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