After Ho-Hum Pricing, AMTD Digital Storms Out of the Gate in U.S. Trading Debut

Shares of fintech accelerator backed by Hong Kong billionaire Li Ka-shing more than tripled from their IPO price in their first two trading days Key Takeaways: Hong Kong-based AMTD Digital Raised About $125 million in a New York IPO, becoming the largest New York listing by a Chinese company this year The company, which is backed by Hong Kong billionaire Li Ka-shing, is suffering from slowing revenue growth, but boasts higher margins than other fintech stocks By Warren Yang There are plenty of China fintech stocks out there, though many…

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FAST NEWS: Xiaomi Slips Into the Red on Big Phone Shipment Drop

The latest: Smartphone maker Xiaomi Corp. (1810.HK) reported its revenue fell 4.6% year-on-year in the first quarter to 73.35 billion yuan ($10.9 billion). It also recorded a 530 million yuan net loss for the period, reversing a 7.79 billion yuan net profit a year earlier, according to an announcement on Thursday. Looking up: The company ranked third in global smartphone shipments in the quarter with 12.6% market share, according to Canalys. Monthly users of its MIUI operating system reached 529 million in global markets and another 135 million in its home mainland China market. Take…

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Facing Double Whammy in India, Will Xiaomi Look Home for Comfort?

Smartphone maker could face major difficulties in the important Indian market after $725 million worth of its assets were reportedly frozen due to a tax dispute Key Takeaways: Xiaomi has been accused of tax evasion in India, though the company claims its activities complied with local laws Ban of company’s local apps is dealing a second blow to Xiaomi in India, leading some to predict it could switch its focus back to its home Chinese market By Ken Lo Beware the dangers of operating in a foreign land – especially…

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Drone Giant DJI’s Russia Halt Pressures Other China Big-Techs

The top maker of pilotless flying devices has suspended its activities in Russia and Ukraine, becoming the first Chinese company to make such a move Key Takeaways: DJI has halted its Russia and Ukraine business and will reassess requirements in different legal jurisdictions, following wide-ranging western sanctions on Russia Other Chinese companies facing similar dilemmas include Alibaba, Lenovo, Huawei and Xiaomi By Tina Yip Russia has quickly become a wasteland for western tech brands, with names like Apple (AAPL.US), HP (HPQ.US) and Dell (DELL.US) all suspending local operations after the…

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Huafang Hopes ‘Internet Bad Boy’ Backing Will Bring Investors Streaming to Its IPO

The second-tier livestreaming platform has applied to list in Hong Kong for a second time, as its business bounces back from a difficult merger Key Takeaways: Huafang Group posted 4.6 billion yuan in revenue last year, up 63% higher from pre-pandemic levels in 2019, but still much lower than its major competitors Company’s largest shareholder is Zhou Hongyi, whose notoriety as China’s “internet bad boy” could raise awareness among investors By Ken Lo Despite a boom in livestream entertainment during the pandemic and backing from a man famous as China’s…

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Zepp Health Stuck in Rut as Global Chip Shortage, Covid Weigh

Smart wearables maker cuts fourth-quarter revenue guidance, but expects to stay profitable, as competition intensifies Key takeaways: Zepp Health has cut its fourth-quarter revenue guidance, sending its shares to near all-time lows, as its shipments fall due to overreliance on Xiaomi relationship Global chip shortage and fresh Covid restrictions are also weighing on company as it tries to gain share in the crowded global smartwatch space By Mia Shanley Smart wearable device maker Zepp Health’s (ZEPP.US) efforts to carve out a niche in the crowded global smartwatch space are being…

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Globally Minded Zepp Raises Eyebrows With New Ultra-Long Life Smartwatch

Company unveils new products under its own Amazfit brand, aiming to emerge from the shadows of longtime partner and major shareholder Xiaomi Key takeaways: Zepp Health has launched a new energy-efficient operating system for its Amazfit smartwatches that cuts power consumption by 65% Shipments of company’s own-branded products more than doubled in the second quarter as it tries to wean itself from Xiaomi By Mia Shanley Chinese smart wearable device maker Zepp Health (ZEPP.US) is making good on its aim of weaning itself off smartphone partner Xiaomi (1810.HK) with the…

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Tuya’s Stock Gets Lift From Share Buyback, FTSE Inclusion

Company’s shares surge 25% in the two weeks since announcing a buyback, halting an unexplained selloff Key points: Tuya’s shares have rallied 25% in the nine trading days since it announced a share buyback, but are still well below their levels prior to a recent unexplained selloff Company posted triple-digit revenue growth in the second quarter, banking on its leading position as operator of a platform for internet of things (IoT) developers By Doug Young There’s nothing like a good share buyback to rescue your stock in times of unexplained…

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Zepp or Huami? Wearable Device Maker in China-U.S. Identity Crisis

Company’s latest announcement of moving its user data to AWS reflects drive to separate itself from smartphone patron Xiaomi Key points: Zepp is taking further steps to distance itself from China and Xiaomi by announcing the movement of its data to Amazon Web Services The company’s valuation is quite low following a recent selloff, possibly over concerns about the chances for success in its drive to diversify from Xiaomi By Doug Young As the clock ticks down on China and the U.S. to resolve their differences over the auditing of…

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