Sagging Profits Take the Shine off Beauty Farm’s IPO

Earnings at the beauty and health company were badly hit by Covid disruption in the first half of the year Key Takeaways: Beauty Farm Medical and Health had to shut many of its salons in Chinese cities when Covid struck in the first half of the year, sending its net profit plunging nearly 80% With its valuation squeezed, the company might struggle to hit a $300 million fundraising target By Emily Chan Beauty may be big business in China, as incomes rise and social media puts an added premium on…

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FAST NEWS: C-Mer Eye Care’s Chairman Boosts Holdings

The latest: C-Mer Eye Care Holdings Ltd. (3309.HK) announced on Friday its Chairman Dr. Dennis Lam purchased 1.45 million of the company’s shares, representing approximately 0.095% of its issued share capital, on the open market for five consecutive days through Sept. 30 at a cost of approximately HK$5.08 million ($650,000). Looking up: Lam and his spouse increased their stake in the company to 55.27%, and he stated he is confident about the group’s prospects and business. Take Note: The company’s share price recently hit a four-year low, which may have…

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FAST NEWS: CMS Holdings Profit Rises as It Explores Medical Aesthetics

The latest: Drug maker China Medical System Holdings Ltd. (CMS Holdings) (0867.HK) on Wednesday evening said its net profit rose 19.2% last year to 3.02 billion yuan ($474 million), and declared a final dividend of 0.2269 yuan per share. Looking up: The company’s revenue rose 20% for the year to 8.34 billion yuan, of which revenue from sales of pharmaceutical products increased 16.6% to 6.66 billion yuan, accounting for nearly 80% of the total. Take Note: The group’s selling expenses increased by 23.7% to 2.54 billion yuan last year, equal…

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