IT provider Edianyun Seeks IPO Cash, with Finances Under a Cloud

China’s largest provider of integrated business IT solutions, Edianyun, recently re-filed to list on the Hong Kong Stock Exchange, but a ballooning first-half loss of 625 million yuan is a major concern Key Takeaways: The pre-listing finances at Edianyun have taken a sharp turn for the worse, as the company’s net loss in the first half of this year alone is almost equal to the total combined losses of the previous three years The company relies on the leasing of computer and office equipment and is under strong capital pressure…

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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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Beisen Eyes Hong Kong IPO Again Even As Profit Remains Elusive

The provider of cloud-based human capital management tools has filed for an IPO in Hong Kong again after making no progress with its earlier plan to go public in the city Key Takeaways: Beisen, which originally filed for an IPO in Hong Kong in January, submitted an application to list shares in the city again this month The company’s revenue has been growing more than 20% annually in the past few years but it remains unprofitable due to high costs for product development and marketing By Emily Chan As Beisen…

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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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With Fast Growth but Bumpy Profits, Xuan Wu Cloud Poised for IPO Lift-off

The intelligent CRM services provider expanded on the back of China’s retail revolution and has now passed its IPO hearing with the Hong Kong Stock Exchange Key Takeaways: Xuan Wu Cloud, a CRM supplier with rising revenues and high client retention rates, gained IPO approval from the Hong Kong Stock Exchange The company’s net profits have been volatile and gross margins have fallen, as a major part of its revenue derives from the low-margin platform business By Lau Ming For some companies, unpredictable business conditions can clearly be an opportunity…

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Weimob Invests for the Future, as Investors Grow Impatient for Profits

E-commerce SaaS company closely tied to WeChat spent heavily on new initiatives last year, pushing it deeply into the red Key Takeaways: Weimob reported a 566 million yuan adjusted loss for 2021, reversing a profit from the previous year, as it spent heavily on new initiatives Big-name investors sold down their stakes in the company in the second half of last year, but are showing early signs of returning By Doug Young Seasoned stock buyers will tell you to look for companies that are investing in their future. While that…

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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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