Agora Fine Tunes Its Business With Non-Core Asset Sale

The provider of real-time voice and video technologies is selling part of a business it acquired less than two years ago as part of efforts to streamline its operations Key Takeaways: Agora agreed to sell the customer engagement cloud business of Easemob, which it acquired less than two years ago, to TI Cloud for about $14.6 million The transaction is a win-win for all parties involved due to the more complementary nature of the unit being sold with TI Cloud’s business By Warren Yang Agora Inc. (API.US), best known as…

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Trip.com Sees Bumpy Period Ahead, But Clear Air Later in 2023

China’s leading online travel agent posted solid growth in the third quarter, but hit a rough patch in October that’s expected to last through early 2023 Key Takeaways: Trip.com’s revenue grew 29% in the third quarter, but it warned of a rough fourth quarter and continued difficulty in early 2023 as China shifts from its zero Covid policy The company said its non-China Asia air bookings grew 400% in the third quarter, hinting at the kind of growth China could see next year with the end of Covid restrictions By…

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Big-Spending Game Developer ZX Rolls the Dice With IPO Plan

Despite benefiting from a gaming surge during Covid lockdowns, the company’s finances still contain some red flags as it eyes a Hong Kong listing Key Takeaways: ZX Inc.’s revenue and profit both grew significantly in the first half of the year as frequent lockdowns sparked an online gaming craze The company had just 290 million yuan in cash and 2 billion yuan in net current liabilities at the end of June By Fai Pui In 2017, Hong Kong movie star Nick Cheung challenged Chinese gamers to “cross me if you…

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SPONSORED: Tongcheng Travel Revenue Rises on Strong Accommodation and Bus Ticketing Businesses

The online travel agent’s revenue grew 5.6% in the third quarter, as average monthly paying users surged to a record high The resurgence of Covid-19 in cities across the mainland starting from late August 2022 has disrupted the recovery of China’s domestic travel industry seen in July and August 2022. Against this backdrop, Tongcheng Travel (0780.HK), an innovator and leader in China’s online travel industry, managed to deliver solid user growth on a 5.6% revenue increase during the third quarter of 2022, thanks to rapid growth in its accommodation and…

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Fosun Seeks Club Med Investors to Plug Its Own Financial Holes

The debt-plagued financial conglomerate is reportedly looking for a third party to buy some or all of its majority stake in Fosun Tourism, owner of the French resort chain Key Takeaways: Debt-strapped Fosun is reportedly seeking to raise cash by bringing in a major outside investor for its tourism unit, whose crown jewel is the Club Med resort chain Club Med accounted for about 80% of Fosun Tourism’s business in the first three quarters of 2022, as the chain rebounded sharply on easing Covid restrictions outside China By Doug Young…

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