Mass Layoffs at ‘China’s Instagram’: Tough Times or Primping for IPO?

Xiaohongshu confirms cutting 9% of its staff amid similar layoffs at other big internet companies. But some suspect the move may be aimed at improving its financials for an IPO Key takeaways: Xiaohongshu’s recent major layoffs could reflect a tough advertising market, even as it framed the move as normal workforce turnover Others reportedly laying off large numbers of workers include top livestream gaming platforms Huya and DouYu, whose planned merger was nixed by regulators last year By Ken Lo China’s internet realm has become the land of massive layoffs…

Read More »

Yuanxin Tempts Investors With One-Stop Medical Formula in Hong Kong IPO

The internet healthcare company filed its listing application to the Hong Kong Stock Exchange last week, trumpeting its comprehensive approach to medical services Key takeaways: Yuanxin Technology has filed for a Hong Kong IPO a second time, aiming to set itself apart from rivals with its wide range of medical services The company’s revenue grew 65% last year, but its losses are growing even more quickly By Li Yaoyao Once verboten for many medical companies due to listing rules that banned money-losing applicants, Hong Kong has welcomed such high-growth firms…

Read More »

Shenzhen Edge Medical Seeks Place in China’s Surgical Robot Market

The maker of cutting-edge medical devices has applied for an IPO in Hong Kong, even as it has yet to sell any products Key takeaways: Shenzhen Edge Medical has applied for a Hong Kong IPO, following China’s approval for the sale of one of its key products in January Company will face challenges from a growing number of domestic rival products already on the market By Molly Wen Born in the confluence of medicine, mechanics, biomechanics and computer science, surgical robots have become a crown jewel of sorts for the…

Read More »

Sunshine Insurance Looks for Sunny Skies in Hong Kong with IPO Bid

Company would become China’s first new insurer to list in five years and 10th listed insurer overall, but is making its bid into a difficult environment Key Takeaways: Sunshine Insurance has applied to list in Hong Kong, and could become China’s 10th listed insurer if the bid is successful Company is launching its bid into a weak market, with most insurers now trading at price-to-book ratios well below 1 By Christina Meng China’s insurance sector is in the throes of change, with companies seeking to improve their products even as…

Read More »

Chinese Firms in New GDR Rush to Realize Global Dreams

Six Chinese companies have announced plans to issue global depositary receipts in Europe, following Beijing’s recent show of support for overseas listings Key takeaways: Six domestically listed Chinese companies have announced plans to issue GDRs in Europe over the last month Four Chinese companies with existing GDRs in London have received scant interest from investors, with extremely low trading volumes. By Tina Yip The threat of forced U.S. delistings has hung over the heads of U.S.-traded Chinese companies like a Sword of Damocles for the past two years. To date,…

Read More »

InnoCare Pharma Goes Back to Funding Trough With STAR Market Listing

The Hong Kong-traded company will become the latest from the cash-challenged pharma sector to make a second listing on the A-share market Key Takeaways: InnoCare Pharma’s A-share IPO will make it the fourth innovative pharma company with shares traded in Hong Kong and on the mainland’s STAR Market   The company is flush with cash and continues to raise money at every opportunity to finance its R&D By Molly Wen China’s Nasdaq-style STAR Market has become fertile ground for fundraising by innovative yet profit-challenged pharmaceutical companies since its launch in…

Read More »

Titanium Miner LB Group Seeks to Shine in Hong Kong IPO Raising up to $1.5 Billion

Producer of the white metal powder used to brighten everything from paints to food saw its profit double last year on nearly 50% revenue growth Key Takeaways: LB Group has filed for a Hong Kong IPO to raise up to $1.5 billion, aiming to consolidate its place as Asia’s leading producer of titanium dioxide pigments Listing would complement company’s existing Shenzhen A-shares, which look sharply undervalued compared with industry peers By Andrew Curran Asia’s top producer of titanium oxide, a powder used to whiten everything from paints to inks and…

Read More »

AIM Puts mRNA Covid Vaccine in Investor Crosshairs With New IPO Attempt

Vaccine maker’s previous IPO bids on Shenzhen’s ChiNext board and in Hong Kong failed, but it is soldiering ahead with a new attempt in Hong Kong Key takeaways: Vaccine maker AIM has filed for an IPO in Hong Kong, following unsuccessful previous bids in Hong Kong and on Shenzhen’s ChiNext board The company has three Covid vaccines under development, including an mRNA vaccine expected to hit the market in the fourth quarter By Fai Pui If at first you don’t succeed, try, try again. And again. And again. That’s the mantra…

Read More »

LinkDoc Formally Withdraws Its U.S. IPO. Next Stop, Hong Kong?

Medical big data company has filed with U.S. securities regulator to officially terminate its plan to raise $200 million through a New York listing Key Takeaways: LinkDoc has formally withdrawn its plan to raise $200 million from a U.S. IPO, nine months after its 11th hour halt to the listing Three other Chinese companies with pending U.S. listings could revive their plans in the second half of this year as last year’s regulatory turmoil shows signs of receding By Doug Young Medical big data firm LinkDoc Technology Ltd. has formally…

Read More »

Zhihu in Quest to Be First Internet Firm with U.S., Hong Kong Primary Listings

The Q&A platform has applied for a second primary listing in Hong Kong, though reception for the deal has been tepid Key takeaways: Zhihu will make a second primary listing in Hong Kong alongside its current U.S. listing, aiming to ease U.S. regulatory pressure and reach more Chinese investors Lukewarm interest in the new Hong Kong offering suggests investors are concerned about the company’s growing losses By Jony Ho Another Chinese company is jumping on the dual-listing bandwagon to Hong Kong, this time by online Q&A platform Zhihu Inc. (ZH.US;…

Read More »