Fast News - Bamboo Works - China stock insights for global investors https://thebambooworks.com/category/fast-news/ China stock insights for global investors Fri, 17 May 2024 06:49:27 +0000 en-GB hourly 1 https://wordpress.org/?v=6.1.1 https://thebambooworks.com/wp-content/uploads/2022/12/cropped-BBW_website_icon_20221228-32x32.png Fast News - Bamboo Works - China stock insights for global investors https://thebambooworks.com/category/fast-news/ 32 32 NEWS WRAP: FinVolution posts modest revenue gains as international growth slows https://thebambooworks.com/news-wrap-finvolution-posts-modest-revenue-gains-as-international-growth-slows/ Fri, 17 May 2024 06:41:26 +0000 https://thebambooworks.com/?p=32098 The online loan facilitator said its international loan transaction volume grew 41% in the first quarter, slowing from 85% in the previous quarter    By Doug Young Online loan facilitator FinVolution Group (FINV.US) on Wednesday reported that growth of its international business slowed in the first quarter, reflecting difficulties it will face in boosting that.....

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]]> FAST NEWS: Lepu Biopharma to raise $32 million in share sale https://thebambooworks.com/fast-news-lepu-biopharma-to-raise-32-million-in-share-sale/ Fri, 17 May 2024 05:34:10 +0000 https://thebambooworks.com/?p=32096 Lepu touts itself as the only biotech company in China working on all three very promising fronts, with PD-1 products in the new drug application (NDA) stage, multiple “smart missile” antibody-drug conjugate (ADC) products in clinical trials, and OV products under development.The Latest: Innovative drug maker Lepu Biopharma Co. Ltd. (2157.HK) announced on Friday it will place up to 51.17 million shares, or about 2.99% of its overall issued share capital, for a sale price of HK$4.58 per share. Looking Up: The company expects to receive approximately 230 million yuan ($32 million) in net proceeds from the.....

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]]> FAST NEWS: ZTO Express profit falls, maintains high gross margin https://thebambooworks.com/fast-news-zto-express-profit-falls-maintains-high-gross-margin/ Thu, 16 May 2024 05:59:24 +0000 https://thebambooworks.com/?p=32044 Logistics provider ZTO Express announced Thursday its net profit fell 13% year-over-year to 1.45 billion yuan ($201 million) in the first quarter of 2024.The Latest: Logistics provider ZTO Express (Cayman) Inc. (ZTO.US; 2057.HK) announced Thursday its net profit fell 13% year-over-year to 1.45 billion yuan ($201 million) in the first quarter of 2024, but its non-GAAP net profit rose 15.8% to 2.22 billion yuan. Looking Up: The company’s parcel volume grew 13.9% in the first quarter to 7.17 billion, and it expects the.....

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]]> FAST NEWS: Super Hi swings to the red on higher forex losses https://thebambooworks.com/fast-news-super-hi-swings-to-the-red-on-higher-forex-losses/ Tue, 14 May 2024 06:29:07 +0000 https://thebambooworks.com/?p=31996 As the international arm of Haidilao, Super Hi operated 115 restaurants in 12 countries across Asia, North America, Europe and Australia by the end of 2023.The Latest: Super Hi International Holding Ltd. (9658.HK), the international business unit of Chinese hotpot giant Haidilao (6862.HK), announced Monday that it lost $4.54 million in the first quarter of this year, mainly due to a big jump in foreign exchange losses. Looking Up: The company’s revenue for the period rose 16.6% to $188 million, boosted.....

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]]> FAST NEWS: Euda Health acquires CK Health in $15 million deal https://thebambooworks.com/fast-news-euda-health-acquires-ck-health-in-15-million-deal/ Mon, 13 May 2024 11:09:52 +0000 https://thebambooworks.com/?p=31945 EUDA acquires CK HealthThe Latest: Singapore-based digital health platform EUDA Health Holdings Ltd. (EUDA.US) said on Wednesday it completed its acquisition of CK Health Plus Sdn Bhd, a Malaysian provider of consumer wellness products, in a deal that values CK Health at $15 million. Looking Up: The acquisition will give EUDA an entry to the healthcare markets in.....

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]]> FAST NEWS: Zeekr shares jump in New York trading debut https://thebambooworks.com/fast-news-zeekr-shares-jump-in-new-york-trading-debut/ Mon, 13 May 2024 04:54:36 +0000 https://thebambooworks.com/?p=31927 Zeekr jumped in their trading debut on Friday after pricing at $21, representing the top of their previously announced range.The Latest: Shares of Zeekr Intelligent Technology Holding Ltd. (ZK.US), the electric vehicle (EV) maker backed by leading Chinese automaker Geely, jumped in their trading debut on Friday after pricing at $21, representing the top of their previously announced range. Looking Up: The company raised about $440 million through the share sale, making it the.....

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]]> FAST NEWS: SMIC forecasts continued gross margin decline https://thebambooworks.com/fast-news-smic-forecasts-continued-gross-margin-decline/ Fri, 10 May 2024 06:09:36 +0000 https://thebambooworks.com/?p=31864 Semiconductor Manufacturing International Corp. (SMIC)(0981.HK; 688981.SH) on Thursday reported a 68.9% year-on-year drop in its third-quarter profit to $71.79 million.The Latest: Semiconductor Manufacturing International Corp. (SMIC)(0981.HK; 688981.SH) on Thursday reported a 68.9% year-on-year drop in its third-quarter profit to $71.79 million, as its gross margin plunged by 7.1 percentage points to 13.7%. Looking Up: The company, whose first-quarter revenue rose 19.7% year-on-year to $1.75 billion, expects its second-quarter revenue to grow 5% to 7% from the first.....

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]]> FAST NEWS: Autohome’s adjusted profit climbs in first quarter https://thebambooworks.com/fast-news-autohomes-adjusted-profit-climbs-in-first-quarter/ Thu, 09 May 2024 06:04:26 +0000 https://thebambooworks.com/?p=31817 Under the favorable environment, coupled with the satisfactory sales performance of new energy vehicles and the expansion of online marketplace services, Autohome recorded an increase in both revenue and net profit last year.The Latest: Online auto trader Autohome Inc. (ATHM.US; 2518.HK) on Wednesday reported a 3.3% drop in net profit to $54.6 million in the first quarter of this year, while its non-GAAP adjusted profit rose 2.2% to $68.4 million. Looking Up: During the period, the company’s total revenue increased by 4.9% to $223 million, mainly benefiting from increases.....

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]]> FAST NEWS: Hongjiu Fruit’s Chairman pledges shares for a loan https://thebambooworks.com/fast-news-hongjiu-fruits-chairman-pledges-shares-for-a-loan/ Wed, 08 May 2024 04:49:31 +0000 https://thebambooworks.com/?p=31773 Established in 2002, Hongjiu is one of the top three fruit sellers in China, and grew rapidly during the Covid pandemic, and capable of high revenue and profit growth between 2020 and 2022.The Latest: Fruit distributor Chongqing Hongjiu Fruit Co. Ltd. (6689.HK) announced Tuesday its controlling shareholder and chairman Deng Hongjiu pledged 23.23 million shares of the company as security for a loan totaling 96.57 million yuan ($13.4 million) from Standard Chartered Bank (China). Looking Up: By pledging the company’s shares in exchange for a loan, Deng does not need.....

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]]> FAST NEWS: Fosun Pharma hits pause button on share buyback program https://thebambooworks.com/fast-news-fosun-pharma-hits-pause-button-on-share-buyback-program/ Tue, 07 May 2024 06:28:43 +0000 https://thebambooworks.com/?p=31722 Fosun Pharma is a diversified drug company whose portfolio includes pharmaceutical, medical equipment and healthcare services.The Latest: Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (2196.HK; 600196.SH) announced Monday it hasn’t yet implemented a share buyback since announcing a plan on March 27 to buy back its A shares through centralized bidding. Looking Up: As the share buyback has not yet commenced, it has not had any impact on the company’s cash flow. Take.....

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]]> FAST NEWS: Tencent reduces Keep Inc. holdings https://thebambooworks.com/fast-news-tencent-reduces-keep-inc-holdings/ Mon, 06 May 2024 05:11:57 +0000 https://thebambooworks.com/?p=31690 Keep was founded in 2015 and launched its online fitness platform business with its own structured fitness classes.The Latest: Internet giant Tencent Holdings (0700.HK) disclosed it sold 6.14 million shares of online fitness platform Keep Inc. (3650.HK) on May 2, lower its stake from 5.45% to 4.28%, according to a new Hong Kong Stock Exchange filing. Looking Up: The sale dropped Tencent’s Keep stake below the 5% threshold that requires future disclosure of any changes.....

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]]> FAST NEWS: CIMC Vehicles to delist from Hong Kong on June 3 https://thebambooworks.com/fast-news-cimc-vehicles-to-delist-from-hong-kong-on-june-3/ Fri, 03 May 2024 05:22:45 +0000 https://thebambooworks.com/?p=31544 CIMC Vehicles makes and sells semi-trailers to customers in China, North America and Europe.The Latest: Container truck manufacturer CIMC Vehicles (Group) Co. Ltd. (1839.HK; 301039.SZ) announced Thursday that its proposal to buy back all its Hong Kong-listed shares for HK$7.50 apiece has been accepted by shareholders, and the stock will cease trading at 4 p.m. on June 3. Looking Up: By withdrawing from the Hong Kong stock market, the company.....

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