FAST NEWS: Cosmetic Surgery Platform So-Young Gets Privatization Offer

The latest: Plastic surgery services platform So-Young International Inc. (SY.US) announced it has received an offer from a group led by its co-founder and Chairman Jin Xing to take the company private at a price of $5.30 per American depositary share (ADS). Looking Up: The price represents a 23% premium over the company’s last close of $4.32 before the Tuesday announcement. Such deals often have the best chance of success when they are led by top company managers, who often hold and control large blocks of the company’s shares. Take…

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FAST NEWS: CIMC Vehicles Surges, Then Fades After Citigroup Cuts Stakeholding

The latest: Citigroup cut its stake in China’s leading container truck maker CIMC Vehicles (Group) Co. Ltd. (1839.HK; 301039.SZ) by approximately 37.53 million shares on Nov. 12, leaving it with only 43,998 shares, according to a stock exchange announcement on Friday. Looking up: There was no immediate news on Monday about who may have bought the shares, since such a large equity transaction is difficult to conduct on the open market. CIMC Vehicles’ price gains after the Citigroup sale was disclosed means the shares might have been successfully transferred to one…

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FAST NEWS: 51job Shares Plunge on Privatization Doubts

The latest: Online recruitment site operator 51job Inc. (JOBS.US) said a group bidding to privatize the company is “in consultation with Chinese regulators on recent regulatory changes in China that may be applicable to the company and the proposed transaction.” It did not comment further on the nature of the regulatory changes, and added a timeline for completion of the consultations “cannot be provided at this time.” Looking Up: 51job first received the privatization offer a year ago, and had previously said the deal was expected to close by the…

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FAST NEWS: Niu Technologies Sales Zoom in China, Sputters Overseas in Third Quarter

The latest: Niu Technologies (NIU.US) reported that sales of its electric scooters soared 58% in this year’s third quarter, reaching 397,079 units for the three-month period. The vast majority of those sales were in China, which logged 392,112 units sold during the period. Looking Up: Niu said the strong domestic growth was driven by an aggressive expansion that saw it add 320 stores during the quarter in China. Take Note: While domestic sales were strong, the opposite was true for the tiny portion sales that came from exports. The company…

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FAST NEWS: Niu Technologies Q2 Profit Rises 62%

The latest: Electric scooter maker Niu Technologies reported its second-quarter revenue rose 46.5% to 944.7 million yuan ($146 million) year-on-year, while its profit rose 61.6% to 91.8 million yuan, according to its latest quarterly report. Upside: The company expects to post similarly strong revenue growth of 40% to 62% in the third quarter. Downside: Niu Technologies’ revenue per scooter fell 7.3% year-on-year, with the company blaming a “change in product mix.” Digging Deeper: Like many other companies, Niu is bouncing back from a sharp downturn a year earlier during the…

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