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: 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: Anta Stumbles in Fourth Quarter

The latest: Sportswear retailer Anta Sports Products Ltd. (2020.HK) announced on Wednesday that retail sales of its Anta-branded products fell by a high single-digit amount in last year’s fourth quarter, while its Fila-branded products recorded a low-teens percentage decline. Looking up: While its two core brands declined, combined retail sales of Anta’s other brands, which include Descente and Kolon Sport, grew by low-teens percentages in the fourth quarter. Take Note: Like other traditional retailers, Anta was forced to temporarily close many of its brick-and-mortar stores at various times last year…

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FAST NEWS: H World Raises $260 Million in Share Placement

The latest: Hotelier H World Group Ltd. (HTHT.US; 1179.HK) on Tuesday announced it will raise $260 million by selling 6.19 million American depositary shares (ADSs), or about 1.95% of its enlarged share capital, at a price of $42 each. Looking up: H World will use the funds to enhance the competitiveness of its hotel portfolio and develop its regional-based operating model in the post-Covid era, as well as for investing in technology infrastructure and its supply chain ecosystem. Take Note: The sale price represents a 4% discount to H World’s closing price the…

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FAST NEWS:  So-Young Upsizes Share Repurchase Program

The Latest: Cosmetic surgery app operator So-Young International Inc. (SY.US) said on Tuesday it will upsize its share repurchase program announced late last year from an original $15 million to $25 million for the 12 months starting from Nov. 18, 2022. Looking Up: The upsizing reflects the company’s confidence in its development. That might stem from changes in its operating environment as China ends its many Covid restrictions. The growing confidence could also owe to improving investor sentiment towards U.S.-listed Chinese stocks with the resolution of a dispute between Chinese…

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FAST NEWS:  Meitu Takes Full Control of Ruisheng Tianhe Advertising Unit

The Latest: Chinese beauty app Meitu Inc. (1357.HK) said on Sunday it will purchase the remaining 19.81% of its majority-owned Ruisheng Tianhe subsidiary from a minority shareholder group for up to HK$248 million ($31.8 million). It said it was required to make the purchase after Tianhe failed to list on a China stock exchange within a required timeframe. Looking Up: Meituan announced it would sell the stake to a minority shareholder group in December 2020, with the condition that Ruisheng Tianhe be listed in China by the end of 2022.…

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Fast News: China Stocks Rise as China Scraps Covid Quarantine for International Arrivals

The Latest: China announced on Monday that inbound travellers will no longer need to quarantine when they arrive in the country starting Jan. 8. Looking Up: The scrapping of such quarantines is a major step in China’s re-opening of its borders as it shifts from its “zero Covid” policy. The step is likely to improve confidence among foreign investors, helping to boost the world’s second largest economy. Take Note: China’s economy has been hard hit by its stringent Covid-control restrictions since the pandemic began three years ago. With a high…

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FAST NEWS: ZTO’s Hong Kong New ‘Primary’ Listing Status to Take Effect in May

The Latest: Logistics company ZTO Express (Cayman) Inc. (ZTO.US; 2057.HK) said its application to upgrade its Hong Kong listing from “secondary” to “primary” status has been approved and is expected to take effect on May 1 next year, according to a statement on Friday. It previously announced the plan to upgrade its listing last month. Looking Up: The upgrade would make ZTO’s Hong Kong-listed shares eligible for inclusion in a program connecting the Hong Kong stock market with its counterparts in Shanghai and Shenzhen, allowing Chinese mainland-based investors to trade…

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FAST NEWS: Topsports’ Quarterly Sales Decline, But Shares Still Jump

The latest: Topsports International Holdings Ltd. (6110.HK), a major distributor for Nike and Adidas in China, said on Wednesday combined sales for its retail and wholesale operations registered a high-teens decline year-on-year in its third fiscal quarter through November. Looking up: The company continued its strategy of replacing numerous smaller-format stores with a smaller number of large-format ones. During the period, the gross selling area of its directly-operated stores fell by 1.3% versus the end of previous quarter, and declined by 5.7% year-on-year, which may help to alleviate its rental expenses. Take Note:…

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Fast News: Smart Share Global’s Quarterly Revenue Down 12%, Sees Bigger Declines Ahead

The Latest: Smart Share Global Ltd. (EM.US), a supplier of rentable power banks, on Tuesday reported its revenue fell 12.4% to 815 million yuan ($114.6 million) in the third quarter, while its net loss widened to 95.8 million yuan from a 79.4 million yuan loss a year earlier. Looking Up:  The company exceeded its earlier revenue forecast for the quarter. China’s re-opening from Covid also raises hope that the company will be able to recover and return to growth as rental usage gradually picks up with less restrictions on the…

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