Plus Digital Seeks to Ride a Boom on Software Services for Retailers

The provider of digital sales and marketing tools for fast-moving consumer goods brands is seeking to go public in Hong Kong as sales of its subscription-based services boom Key Takeaways: Plus Digital has filed for a Hong Kong IPO, reportedly seeking to raise about $150 million Subscription-based software services have emerged as the new growth driver for the company in the past few years By Tina Yip As the Hong Kong IPO market shows signs of revival, Plus Digital Technologies Inc. is wasting no time trying to capitalize on booming…

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Kingsoft Cloud Gets Pelted by Storm Over Locked Novel

Shares of China’s largest independent cloud services provider fell 12% after a social media storm erupted over a novelist who lost access to her work Key Takeaways: Kingsoft Cloud’s shares fell after it stopped an author from accessing her novel saved on its platform on suspicion she may have violated Chinese law The cloud services provider’s shares have lost three-quarters of their value this year on concerns about U.S.-China tensions and the company’s slowing growth By Doug Young This was one story that software maker Kingsoft Cloud (KC.US) probably didn’t…

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Bad Cryptocurrency Investments Take Shine Off Meitu

Beauty software company says it will record a nearly $50 million write-down in the first half of the year related to its bets on Bitcoin and Ether Key Takeaways: Beauty software maker Meitu said its $100 million bet on Bitcoin and Ether cryptocurrencies last year has lost nearly half its value Despite the losses, company says it remains “positive on the long-term prospects of the acquired cryptocurrencies” By Doug Young We’ve previously written how cryptocurrency companies, both miners and mining equipment makers, are taking a beating right now as the…

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Tuya Seeks Hong Kong IPO to Hedge U.S. Delisting Risk, But Investors Are Wary

With the possibility of being forced to delist from the U.S. market by the SEC, Tuya is primarily seeking a safe harbor and only aims to raise a conservative HK$140 million Key takeaways: Tuya’s failure to turn a profit and a lackluster performance of the overall share market in Hong Kong has dampened investor interest The first-quarter loss of the internet of things company widened by 35.6% year-on-year as a result of rising R&D and operational costs By Fai Pui As the diplomatic and economic showdown between Beijing and Washington…

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Video-Minded Vobile Nears Major Purchase to Boost Growing China Business

Video monetization and copyright protection specialist’s revenue could rise 50% with its new $127 million purchase of Hangzhou-based Particle Technology Key Takeaways: Video services company Vobile said it has secured funding for its $127 million purchase of China-based Particle Technology Company’s stock trades at a premium to peers due to its strong profitability and deepening focus on the fast-growing China market By Christina Meng China’s ongoing regulatory crackdowns may be hitting big tech hard, putting a major damper on growth and forcing many to lay off thousands of workers. But…

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