In this week’s issue Covid deaths plunge, Blizzard’s “World of Warcraft” bids farewell to Chinese gamers and China Inc embarks on a Fundraising frenzy. On a scale of 1 to 10, we give the week a 6 for offshore-listed China stocks.
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Eight U.S.- and Hong Kong-listed Chinese companies have collectively raised more than $2 billion this month, mostly through new share issues Key Takeaways: By Doug Young Long-suffering U.S.- and Hong Kong-listed Chinese companies are taking advantage of recent positive sentiment to raise billions of dollars, bringing new meaning to the old adage “make hay while the sun shines.” This month alone, the group has raised more than $2 billion in at least eight deals, led by a $580 million fundraising by data center operator GDS (GDS.US; 9698.HK). The amount…
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The popular video site sold $409 million in new shares ahead of its fourth-quarter results release, and will use part of the proceeds to buy back debt coming due in 2026 Key Takeaways: By Ken Lo Short video platform Bilibili Inc. (BILI.US; 9626.HK) has joined the recent “pump and dump” train of U.S.-listed Chinese companies raising funds through new share issues, tapping a wave of warming investor sentiment that has boosted its shares in recent months. The company’s status as an investor favorite among its peers was also a likely…
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In this week’s issue exports tank and steel output slides, while Didi drives back into China app stores. On a scale of 1 to 10, we give the week a 6 for offshore-listed China stocks.
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The Year of the Tiger was a tough one for China and Chinese concept stocks, marred by frequent Covid disruptions and ongoing tensions between the U.S. and Chinese securities regulators
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The debt-heavy conglomerate announced a fresh $1 billion in asset sales last week, as growing signs emerge that its looming debt crisis of 2022 may be receding Key Takeaways: By Chen Ruzhen On the last evening of 2022, Guo Guangchang, chairman of conglomerate Fosun International Ltd. (0656.HK), visited a lantern festival at Yu Garden, the famous Shanghai tourist attraction operated by one of his company’s units. The rags-to-riches billionaire made New Year’s wishes that life would return to normal in China, and that Fosun’s global partners could visit a country…
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Lee Kai-Fu, a former senior Google executive-turned-venture capitalist, has slashed his stake in the beauty app operator as it continues struggling to turn a profit Key Takeaways: By Warren Yang Beauty app maker Meitu Inc. (1357.HK) can touch up its financial reality only so much for investors who have waited years for the company’s first real profits. One prominent investor may be losing patience with the company as it continues to lose money years after it went public, causing its shares to sag to well below where they traded at…
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In this week’s issue China’s Lunar New Year rush returns, manufacturing contracts, and Dell says “no” to Chinese chips. On a scale of 1 to 10, we give the week a 7 for offshore-listed China stocks.
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The online travel agent made several major investments in 2022 in a diversification drive to lower its dependence on backers Tencent and Trip.com Key Takeaways: By Trevor Mo A series of newly disclosed acquisitions by Tongcheng Travel Holdings Ltd. (0780.HK) shows the online travel agency is trying to diversify its service offerings, as part of a bigger business expansion strategy. Such services – especially a new outbound travel service – should help it to better capture rising travel demand following Beijing’s decision last month to pivot away from its “zero…
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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.
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