Tencent-Backed Weimob’s Big Investors Head for Exit Doors

UBS, Credit Suisse, JPMorgan and Black Rock have all sold down stakes in e-commerce services provider in recent months Key takeaways: Several of Weimob’s big-name shareholders have been selling down their stakes in the company over the last three months Tencent-backed Weimob announced a HK$1 billion share buyback last month to relieve the selling pressure By Doug Young Fall 2021 might well be called the season of the “big exit” for Weimob Inc. (2013.HK). The provider of e-commerce services closely tied to internet giant Tencent (0700.HK) has been aggressively purchasing…

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Investors Cheer ZhongAn’s Insurance Milestone. But Only Briefly

Online insurer backed by Alibaba, Tencent and Ping An posts first-ever profit for its underwriting business in first half of 2021 Key takeaways: •   Online-only insurer ZhongAn made a profit from underwriting insurance for the first time in the first half of 2021, helping its net profit jump 54% •   Company’s shares still trade far below their IPO price, underscoring soured investor sentiment after years of losses By Warren Yang It’s been a long time coming for ZhongAn Online P&C Insurance Co. Ltd. (6060.HK), the online insurer that made a splash in…

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Daojia Chases Unicorn Status on China’s Growing Thirst for Maids, Nannies

Provider of domestic workers to nation’s expanding middle class files for New York IPO with initial fundraising target of $100 million Key points: Domestic worker provider Daojia is unlikely to attain a market value of $1 billion in its upcoming IPO due to its relatively small size Company could become more attractive as it shifts from providing domestic workers to higher-margin training services By Doug Young Private education companies have been in a state of limbo for much of the last year, as China gets set to rein in the…

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21Vianet Moving to Margins of Data Center Universe?

Microsoft’s China cloud services partner reports slowest revenue growth in first quarter among the country’s three major independent data center operators Key takeaways: 21Vianet’s latest results show it’s the slowest-growing among China’s three major independent data center operators The company’s relative laggard status could weigh on its stock as it focuses on boosting capacity at current facilities rather than opening new ones By Doug Young The latest leg in the horse race between China’s three main independent data-center operators has just concluded, with 21Vianet Group Inc. (Nasdaq: VNET) becoming the…

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Shared Bike Specialist Hello Inc. Could Meet Skeptical Reception on Wall Street

Company backed by Alibaba’s Ant Group continued to post large losses last year as its revenue growth slowed sharply Key Takeaways: Hello Inc.’s relatively high costs and standalone nature of its shared-bike service could make it difficult for the company to become profitable Those factors mean Hello could be valued at a medium-to-large discount compared to domestic peer Meituan and U.S. giant Uber By Doug Young Hope certainly seems to spring eternal for some people, especially those in the shared economy business. That’s one of the biggest messages coming from…

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