FAST NEWS: Yidu Tech CEO Resigns, Replaced by Husband

The latest: Healthcare data company Yidu Tech Inc. (2158.HK) announced a series of leadership changes during the Wednesday midday trading break, with Gong Yingying resigning as CEO. She was replaced by her husband, Xu Jiming. Feng Xiaoying also replaced Yang Jing as CFO, executive director and authorized representative, and Yang resigned as president. Looking up: Xu Jiming, who will take over as CEO, will lead and manage the company’s life science solutions business. He has more than a decade of experience in search engine technology, big data and artificial intelligence,…

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FAST NEWS: Baozun Completes Acquisition of Gap China

The latest: Baozun Inc. (BZUN.US; 9991.HK) said on Wednesday it completed its previously announced plan to acquire Gap Shanghai, a subsidiary of U.S. clothing giant Gap Inc. (GPS.US), on Jan. 31 and has started operating The Gap’s business in mainland China, Hong Kong and Macau. Looking up: Baozun named Wing Xiao, who has more than 20 years of retail brand management and business experience in both mature and emerging markets, as Gap Greater China’s CEO to lead the team’s business growth. Take Note: Gap is not a highly sought-after brand…

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FAST NEWS: Junshi Bio’s Loss Balloons on High R&D Spending

The latest: Drug developer Shanghai Junshi Biosciences Co. Ltd. (1877.HK; 688180.SH) announced on Monday it expects to report its revenue dropped 64.1% to 1.45 billion yuan ($2.14 billion) last year, while its net loss grew by 232% to 2.4 billion yuan. Looking up: The company’s core product, the toripalimab injection, recorded significant sales growth and has increased its revenue-generating capabilities with the approval of its use for two new indications in China. Take Note: The company said its relatively high investment in ongoing and upcoming projects caused its R&D expenses…

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FAST NEWS: InnoCare Pharma’s Loss Soars on R&D Costs, Exchange Losses

The latest: InnoCare Pharma Ltd. (9969.HK) said it expects to report its net loss soared about 13 times to 910 million yuan ($134 million) last year, according to a profit warning on Sunday. Looking up: The company reported a net loss of 834 million yuan for the first three quarters of last year. Thus, its full-year forecast implies a significant improvement in the fourth quarter, with its loss shrinking to about 76 million yuan. Take Note: The company’s bigger loss last year owed mainly to a 27% increase in in…

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FAST NEWS: Ascletis Pharma’s Monkeypox Drug Gets IND Approval

The latest: Ascletis Pharma Inc. (1672.HK) announced on Thursday that the China National Medical Products Administration (NMPA) has approved an Investigational New Drug (IND) application for its oral viral polymerase inhibitor ASC10 to treat monkeypox. Looking up: Preclinical studies showed ASC10-A, the active metabolite converted from ASC10, exhibited potent antiviral activity against both the monkeypox and Covid-19 viruses. Take Note: As of Jan. 25, only 85,106 confirmed cases of monkeypox virus had been identified worldwide, as a recent epidemic remains under control after an outbreak last year. As a result,…

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FAST NEWS: Hutchmed Sells Cancer Drug’s Overseas Rights for up to $1.13 Billion

The latest: Hutchmed (China) Ltd. (HCM.US; 0013.HK) announced on Wednesday that it has exclusively licensed Japan’s Takeda Pharmaceutical (TAK.US; 4502.T) to develop, manufacture and sell its metastatic colorectal cancer drug fruquintinib worldwide, with Hutchmed responsible for sales of the drug in mainland China, Hong Kong and Macau. Looking up: Hutchmed will receive up to $1.13 billion in total payments. That includes $400 million up front on closing, as well as potential regulatory, development and sales milestone payments, plus royalties on net sales. Take Note: Fruquintinib was approved for sale in…

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FAST NEWS: QuantaSing Makes Quiet IPO Trading Debut

The Latest: Adult education company QuantaSing Group Ltd. (QSG.US) made its IPO trading debut on Wednesday, becoming the first new U.S. listing by Chinese company sponsored by big investment banks in more than a year. Looking Up: The company’s American depositary shares (ADSs) priced at $12.50, in the middle of their range of $11.50 to $13.50, reflecting relatively strong demand. Take Note: QuantaSing raised a modest $40 million from the IPO, slightly more than its 233 million yuan ($34 million) loss for its most recent fiscal year through June 2022.…

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FAST NEWS: Huadi Signs Strategic Agreement With Key PetroChina Contractor

The Latest: Stainless steel pipe maker Huadi International Group Co. Ltd. (HUDI.US) said on Thursday it has signed a strategic partnership agreement with a key construction contractor of China National Petroleum Corp. (PetroChina), China’s largest oil producer. Looking Up: Huadi could win major business through its new position as a first-tier supplier of stainless steel seamless pipes and tubes to China Huanqiu Contracting & Engineering Co. Take Note: Huadi may need to compete with many of Huanqiu’s other first-tier suppliers, which could force it to lower its prices and limit…

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FAST NEWS: CIMC Vehicles’ Controlling Shareholder Boosts Stake

The latest: Container truck manufacturer CIMC Vehicles (Group) Co. Ltd. (1839.HK; 301039.SZ) announced on Thursday its controlling shareholder purchased 27.05 million of its shares in the open market between Dec. 20 and Jan. 19, paying an average price of HK$5.20 per share. Looking up: The purchases raised the controlling shareholder’s stake in CIMC Vehicles from 55.44% to 56.78%, further consolidating its control. Take Note: CIMC Vehicles’ closing price of HK$4.94 on Thursday is 5% below the controlling shareholder’s average purchase price of HK$5.20. Digging Deeper: CIMC Vehicles designs, manufactures and…

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FAST NEWS:  Tianqi Lithium Forecasts Huge Profit Jump for 2022

The Latest: Tianqi Lithium Corp. (9696.HK; 002466.SZ) announced on Wednesday it expects to report its net profit soared between 1,011% and 1,131% to between 23.1 billion yuan ($3.4 billion) and 25.6 billion yuan in 2022. Looking Up: Tianqi Lithium and its peers are benefitting from soaring prices and sales for the metal that is a key component for lithium batteries used in electric vehicles (EVs). Take Note: Lithium prices have already begun trending downward this month following huge run-ups over the last two years. That means Tianqi’s huge profit growth…

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