FAST NEWS: Hywin to Acquire Health Management Services Company

The latest: Wealth management services provider Hywin Holdings Ltd. (HYW.US) said on Friday it has agreed to buy a controlling interest in Beijing iLife3 Technology Co. Ltd., a provider of health management services, for 140 million yuan ($20.7 million). Looking Up: The acquisition will provide Hywin with a major new revenue source as it seeks to tap exploding demand for services in China’s healthcare services market. Take Note: The purchase is well outside Hywin’s core business of providing wealth management services, and thus would bring the company into unfamiliar territory.…

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FAST NEWS: SPAC with Alibaba Former CEO Ties Oversubscribed

The latest: Vision Deal HK Acquisition Corp. (7827.HK), the second listed special purpose acquisition company (SPAC) on the Hong Kong stock market, announced Thursday its offering of 100 million shares was slightly oversubscribed and will be listed on Friday. Looking up: The investors participating in this subscription include 94 professional investors, of which 24 are institutional professional investors, who will hold 75.71% of the shares in the offer, respectively. Take Note: The shares of this company will be offered only to professional and institutional investors, and the admission fee of…

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FAST NEWS: U.S. Warns of ‘Significant Issues,’ ‘Time Running Out’ to Reach Securities Deal With China

The latest: Despite recent progress in negotiations for an information-sharing agreement between U.S. and Chinese securities regulators, “significant issues remain and time is quickly running out” to reach such an agreement, a U.S. Securities and Exchange Commission (SEC) official said. Looking Up: Recent talks with the China Securities Regulatory Commission (CSRC) have been “productive” and “constructive,” Y.J. Fischer, director of the SEC’s Office of International Affairs, said in remarks published online on Tuesday. Take Note: Fischer warned that even if an agreement is reached, more time will be needed to…

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FAST NEWS: Noah Holdings Posts Sharp Revenue Decline, Shares Plunge

The latest: Chinese wealth manager Noah Holdings Ltd. (NOAH.US) reported first- quarter revenue of 796 million yuan ($125.5 million) on Wednesday, down 35% from the same period of 2021 and down 36.9% from the previous quarter. It blamed the decline on decreases in one-time commissions and performance-based income. Looking up: The group’s first-quarter net profit fell 32.8% year-on-year to 304 million yuan. But the figure was up 8.5% from the previous quarter due to lower expenses and provisions for credit losses. Take Note: The company’s total active clients, which excludes…

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FAST NEWS: Are They or Aren’t They? Conflicting Word on U.S. Securities Regulators in Beijing

The latest: Reuters reported on Friday that U.S. securities officials were in Beijing for discussions on an information-sharing agreement with their Chinese counterparts. But later the U.S. Public Company Accounting Oversight Board (PCAOB) denied any of its officials were in Beijing. Looking Up: China has issued a steady stream of signals indicating it wants to allow its companies to keep listing in the New York. Thus, the latest Reuters report, whose sources were anonymous, most likely came from Chinese sources, in the latest positive signal that China wants to reach…

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FAST NEWS: Daqo New Energy Says It May Be Forced to Delist in 2024

The latest: After being added to a growing list of companies facing possible forced delisting from U.S. stock exchanges, polysilicon maker Daqo New Energy Corp. (DQ.US) responded on Wednesday by saying it will continue to comply with applicable laws and regulations in both China and the U.S. Looking up: The company said it is actively exploring possible solutions to best protect the interest of its stakeholders, without being more specific. One alternative could be a public listing in Hong Kong as some other U.S.-listed Chinese stocks have done, taking advantage of a friendlier…

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FAST NEWS: SEC Doubles Number of Chinese Companies at Risk of Delisting

The latest: The U.S. Securities and Exchange Commission (SEC) on Tuesday added 12 company names to a growing list of New York-traded Chinese firms that could be delisted for failing to comply with U.S. law. The additions are mostly midcap companies, including solar materials company Daqo New Energy (DQ.US; 688303.SH), internet portal Sohu (SOHU.US) and asset manager Noah Holdings (NOAH.US). Looking Up: The addition of the companies to the SEC’s list isn’t related to their individual performance, but instead appears related to recent public filings of their annual reports. Nearly…

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FAST NEWS: Baidu Joins List of U.S.-Traded Chinese Stocks in Danger of Delisting

The latest: China’s dominant search engine Baidu Inc. (BIDU.US; 9888.HK) on Wednesday was added to a growing list of companies facing the risk of forced delisting from U.S. stock exchanges. Looking Up: Baidu wasn’t the only company added to the list. Its video affiliate iQiyi (IQ.US) and online brokerage Futu (FUTU.US) were also among five companies added to the U.S. Securities and Exchange Commission’s (SEC) updated list. Take Note: Baidu is the largest Chinese company added to the list to date, with a market value of around $50 billion. Before…

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FAST NEWS: Weibo Added to U.S. List for Potential Forced Delisting

The latest: Weibo Corp. (WB.US; 9898.HK) was added to a U.S. government list of New York-traded Chinese companies that could face possible delisting for failing to comply with a U.S. law passed in late 2020. The company, considered China’s version of Twitter, joined five others published on an initial list two weeks ago. Looking Up: Weibo’s inclusion on the list didn’t come as a major surprise, as all of the nearly 300 Chinese companies now traded in New York face a similar delisting risk if they fail to comply with…

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FAST NEWS: Hong Kong’s First SPAC Aquila Sags in Anemic Trading Debut

The latest: Aquila Acquisition Corp. (7836.HK), the first company to list in Hong Kong using the special purpose acquisition company (SPAC) mechanism launched in January, made its trading debut on Friday. The listing was moderately oversubscribed by 100 million shares in an offer that attracted 99 professional investors, including 40 institutional investors. Looking up: The city’s first SPAC listing comes less than three months after Hong Kong introduced the mechanism on Jan. 1. That’s much quicker than the first similar listing in Singapore, the region’s main competitor, which took over…

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