Stodgy Tax Services IPO Looks Like What U.S. Investors Want from China Now

Lichen China’s plan to raise $25 million avoids most of the controversies that have recently plagued U.S.-listed Chinese companies Key Takeaways: Lichen China has filed for an IPO to raise about $25 million, positioning itself as a potential consolidator in China’s vast, but highly fragmented, tax services market Company points out it should be able to avoid many of the recent controversies now dogging U.S.-listed Chinese stocks  By Doug Young If controversy on a number of fronts is keeping Chinese firms away from new listings in New York, the latest…

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Sunshine Insurance Looks for Sunny Skies in Hong Kong with IPO Bid

Company would become China’s first new insurer to list in five years and 10th listed insurer overall, but is making its bid into a difficult environment Key Takeaways: Sunshine Insurance has applied to list in Hong Kong, and could become China’s 10th listed insurer if the bid is successful Company is launching its bid into a weak market, with most insurers now trading at price-to-book ratios well below 1 By Christina Meng China’s insurance sector is in the throes of change, with companies seeking to improve their products even as…

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Titanium Miner LB Group Seeks to Shine in Hong Kong IPO Raising up to $1.5 Billion

Producer of the white metal powder used to brighten everything from paints to food saw its profit double last year on nearly 50% revenue growth Key Takeaways: LB Group has filed for a Hong Kong IPO to raise up to $1.5 billion, aiming to consolidate its place as Asia’s leading producer of titanium dioxide pigments Listing would complement company’s existing Shenzhen A-shares, which look sharply undervalued compared with industry peers By Andrew Curran Asia’s top producer of titanium oxide, a powder used to whiten everything from paints to inks and…

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Crackdown on U.S.-listed Chinese Stocks Ruins Party for China Renaissance, CICC

Shares of China Renaissance dropped about 9% after its latest earnings report showed revenue dropped in the second half of 2021 as U.S. IPOs by Chinese companies dried up Key takeaways: •      China Renaissance’s revenue fell by a third in the second half of last year from the first half as the number of U.S. IPOs it handled dropped to one from nine •      China International Capital Corp. saw a similar drop in its U.S. IPO business but fared better due to a more diversified business portfolio By Warren Yang…

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FAST NEWS: Vaccine Maker Jiangsu Recbio Gets Little Boost on Listing Day

The latest: Jiangsu Recbio Technology Co. Ltd (2179.HK), a producer of human papillomavirus (HPV) vaccines, received a muted reception as it made its trading debut in Hong Kong on Thursday. According to the allotment results, its offer of 3.055 million shares received orders from 7,853 subscribers, equating to an over-subscription rate of 9.65 times. Successful subscribers purchased shares at an IPO price of HK$24.80 per share. Looking up: The share sale raised a net HK$670 million ($85.9 million), of which 47.3% will be used for the development, production and commercialization…

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Leapmotor Enters EV Race to Capital Markets With Hong Kong IPO Plan

The company reportedly plans to raise up to $1 billion through its listing, becoming China’s fourth EV startup to float shares in Hong Kong Key takeaways: Leapmotor plans to go public in Hong Kong, becoming the fourth Chinese electric vehicle startup to list on the exchange The money-losing company is trying to shift gears from making mini EVs to more traditional sedans at the mid- to high-end of the market By Ken Lo Move over, XPeng (XPEV.US; 9868.HK), Li Auto (LI.US; 2015.HK) and Nio (NIO.US; 9866.HK). China’s “little three” publicly…

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CALB Taps Into EV Battery Fever With Hong Kong IPO Plan

China’s No. 3 electric vehicle battery maker reportedly hopes to raise up to $1.5 billion, becoming Hong Kong’s biggest listing so far this year Key Takeaways: EV battery maker CALB has applied to list in Hong Kong, in what could become the city’s biggest IPO so far this year The company turned profitable last year with net income of 112 million yuan, but spiking material prices are denting its gross margin By Ken Lo China’s strong commitment to environmental protection has set its electric vehicles (EV) sector into motion, boosting…

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Green Tea Group Looks for Room at the Listing Table With Hong Kong IPO

The restaurant operator aims to raise $150 million, but could face headwinds from recent weak sentiment towards the sector Key Takeaways: Popular restaurant operator Green Tea Group has been approved for a Hong Kong listing The company plans to raise $150 million, which it will spend to open 75 to 100 new restaurants each year from 2022 to 2024 By Tina Yip More than 10 years ago, legions of freshly minted working young men would line up for hours for a table at the Green Tea restaurant near the picturesque…

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Dental Care Provider Arrail Hopes Investors Will Smile on Its Hong Kong IPO

Operator of high-end clinics is making a second try at a listing, following a failed attempt last year Key takeaways Arrail Group has passed a listing hear in Hong Kong after becoming profitable at the operating level in its latest fiscal year Company hopes to take advantage of a fragmented Chinese dental market that could be worth 300 billion annually yuan by 2025 By Molly Wen The healthcare investment field is filled with colorful terms like “golden eyes,” “silver teeth” and “copper bones.” Such metallic expressions speak to how lucrative…

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Fitness Platform ‘Keep’ Still in Training as It Files for Hong Kong IPO

The company has lost $860 million over the last three years, but may be making an IPO now under pressure from early investors eager to cash out Key takeaways: Eight years after its founding, fitness platform Keep Inc. has filed for a Hong Kong IPO Company says listing will empower it to turn a profit by providing funds to launch premium fitness packages and attract more subscribers By Tina Yip As the Covid-19 pandemic drags on into its third year, people have become more cautious about visiting offline gyms. That’s…

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