Fosun’s Luxury Dream Advances as Lanvin Group Nears New York Listing

Financial conglomerate’s recently formed luxury group, whose brands include Sergio Rossi and St. John Knits, says it expects to complete a SPAC listing by year-end Key Takeaways: Fosun’s Lanvin Group of luxury brands said it expects to complete a SPAC listing in New York by the end of this year Company reported 339 million euros in revenue last year, and aims to triple that by 2025 through acquisitions and big growth in China and North America By Doug Young Just days after we wrote about a company whose plan to…

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Fosun Tourism Takes Off Globally, But Gets Grounded in China

Revenue from the Club Med operator’s resort operations quadrupled in the first quarter, as many countries reopened their borders to tourists Key Takeaways: Club Med operator Fosun Tourism reported a fourfold increase in revenue from its resort operations in the first quarter despite a resurgence of the Covid-19 Omicron variant Company is expected to return to profitability this year, with valuations that look competitive with other major global tourism stocks By Doug Young Omicron, what Omicron? That’s the key takeaway coming from a decidedly upbeat first-quarter update released late on…

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China Offers Up Luxury Investment With Lanvin Backdoor Listing Plan

Local private equity giant Fosun says it will use a SPAC to list Lanvin, whose brands also include St. John Knits, Sergio Rossi and Wolford Key Takeaways: Chinese private equity giant Fosun will list its Lanvin luxury goods unit in the U.S. using a SPAC backed by Primavera Capital, another major Chinese private equity company Lanvin is currently losing money, but Fosun believes the company can become profitable by 2024 if it meets its aggressive growth projections By Doug Young Watch out, world. China is entering the global race for…

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Early JW Therapeutics Backer Ruins Regulatory Breakthrough Party With Stake Sale

The Chinese cancer drug maker’s shares surged on news of approval for its core product, only to return to earth after early investor Temasek exited Key takeaways: •      Less than two weeks after JW Therapeutics received regulatory approval to commercialize its core product in China, key early investor Temasek sold all of its stake •      JW Therapeutics’ stock now trades nearly 30% below its IPO price, as numerous obstacles remain in the march to commercialize its cutting-edge cancer treatment By Warren Yang It seems a major breakthrough for JW (Cayman)…

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Everest Joins Race to Make mRNA Covid Vaccines for China

Company’s move comes as Beijing shows growing signs of approving the new type of high-tech vaccination Key takeaways: Everest will pay up to $150 million or more to potentially bring an mRNA vaccine being developed by Canada’s Providence Therapeutics to China Deal comes as Beijing appears increasingly receptive to mRNA vaccines, even though Providence’s jabs have yet to be approved in its home Canada market By Richard Barbarossa China may still be without a Covid-19 vaccine based on messenger RNA (mRNA) technology, generally considered the most effective for preventing infections.…

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Fosun Tourism Sees Rebound Just Around the Corner – Again

Owner of Club Med resort chain says business from core tourism operations slumped 42% in first half of 2020, an improvement from 74.5% drop in first quarter Key points: Fosun Tourism’s business continued to drop in the second quarter despite very weak comparisons from the year-ago period Company continues to see rebound coming, with bookings at 86% pre-pandemic levels in the second half of the year By Doug Young Tourism may be staging a nascent comeback as China and the west bring their pandemics under control. But you might have…

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Pandemic Accelerates China’s Drive Into mRNA Treatments

Messenger RNA-based technology that is highly effective in preventing Covid-19 can also be used for treatment of other diseases Key points: High efficacy rates in preventing Covid-19 spark rush by Chinese companies into mRNA vaccines and treatments At least one Chinese-made mRNA Covid vaccine, backed by the military, is now in late-stage development  By Richard Barbarossa They may be late to the party, but that hasn’t stopped China’s drug makers from rushing into messenger RNA (mRNA) drug-making technology, which has won global fame for its use in creating highly effective…

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Investment Bank China Renaissance Is Reborn on First-Quarter IPO Boom

Company’s deal volume rose six-fold in first three months of 2021, as it helped to underwrite Kuaishou’s blockbuster Hong Kong listing (Photo above of Renaissance founder Bao Fan) Key points: China Renaissance has reported a banner first-quarter on an explosion of IPOs by Chinese tech companies The investment bank faces several headwinds, including growing movement by big Wall Street banks into its backyard By Ben Livesey Boutique dealmaker and private equity investor China Renaissance Holdings Ltd. (1911.HK) has been going gangbusters this year. The self-proclaimed one-stop shop for Chinese “new…

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Club Med Owner Fosun Tourism Sees Sunnier Skies, But Investors Unimpressed

Company’s shares sag 5% after it reports business at its tropical Hainan island mega-resort soared 161% in first quarter of 2020 Key takeaways: The latest data from Club Med owner Fosun Tourism provides further evidence of a strong tourism rebound when the pandemic subsides. A selloff of the company’s shares after the announcement reflects investor caution following a recent run-up in the stock By Doug Young Investors are starting to tire of the nonstop stream of optimistic forecasts coming from a global tourism sector that has been one of the…

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