Banu cooks up strong growth with cheaper eats, 24-hour stores
The premium hotpot chain has updated its Hong Kong IPO application, but could face headwinds due to recent investor preference for more cutting-edge companies Key Takeaways: Banu has filed an…
AI computing boom triggers IPO rush by circuitry firms
Delton Tech is the latest supplier of printed circuit boards to apply for a Hong Kong listing, seeking funds to keep pace with demands from AI computing Key Takeaways: The…
Duty-free giant CTG plays hardball to win shop contracts in Shanghai airports
The company’s spat with one of its own subsidiaries highlights the importance of airport outlets for duty free operators struggling with sluggish business in a slowing economy Key Takeaways: CTG…
Lagging in the weight-loss market? Take Fosun’s GLP-1 pill
Playing catch-up in the anti-obesity business, Pfizer has bought global rights to an oral weight-loss drug from Fosun Pharma in another big licensing deal Key Takeaways: With the drug still…
2196.HK
600196.SHG
China’s Android turf war faces a regulatory reckoning
After years of controlling the apps on their products, smartphone brands are on notice that China’s market regulator won’t tolerate unfair practices like app blocking and traffic hijacking By…
Foreign firms face China's cutthroat competition, while AI threatens knowledge platform Zhihu
A new survey is showing foreign investors in China are most concerned about cutthroat competition from Chinese rivals rather than the traditional concerns over market access. What's behind this changing mindset? And Q&A knowledge-sharing site Zhihu is facing an existential challenge from AI. How can the company compete in the face of such a big threat?
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IPO 
Banu cooks up strong growth with cheaper eats, 24-hour stores
The premium hotpot chain has updated its Hong Kong IPO application, but could face headwinds due to recent investor preference for more cutting-edge companies Key Takeaways: Banu has filed an…
Seyond survives marathon journey to Hong Kong listing
The maker of autonomous driving sensors has completed a backdoor SPAC listing nearly a year after signing a merger agreement for the deal Key Takeaways: Seyond has become only the…
A decade in the making: Kunlunxin chips could bring excitement back to Baidu
The search giant and AI aspirant is considering a possible separate listing for its Kunlunxin chip unit, seeking a slice of a market currently led by Nvidia Key Takeaways: Baidu…
Sainte Nutritional ladles up sinking business in renewed IPO application
The special-purpose formula maker’s net profit rose in the first half of this year, but the gains were due to factors unrelated to its core business Key Takeaways: Sainte Nutritional…
New Energy 
A Chinese EV giant’s financing reckoning, and a stockbroker’s commodities pivot
China's central bank is shutting down an IOU system used by BYD to pay its suppliers. Why is it taking this step? And revenue for a stock broker called GoFintech has soared more than 40-fold after it entered the commodities trading business. How should investors look at such a move?
Middle East expansion charges up Zhida’s stock
Shares of the EV charger maker, whose backers include BYD, jumped nearly 10% after announcing its latest expansion plan Key Takeaways: Zhida plans to enter the Middle East, targeting Saudi…
Cango looks past its bitcoin phase to a future as AI infrastructure operator
After booming for much the first year in its pivot to bitcoin mining, the company is looking ahead to a future of creating a ‘global, distributed AI compute grid’ Key…
Consumer 
Banu cooks up strong growth with cheaper eats, 24-hour stores
The premium hotpot chain has updated its Hong Kong IPO application, but could face headwinds due to recent investor preference for more cutting-edge companies Key Takeaways: Banu has filed an…
Duty-free giant CTG plays hardball to win shop contracts in Shanghai airports
The company’s spat with one of its own subsidiaries highlights the importance of airport outlets for duty free operators struggling with sluggish business in a slowing economy Key Takeaways: CTG…
Tian Tu’s Yoplait China sale leaves sweet, but also sour, taste
The venture capital company has set a new date of Dec. 31 to finalize the sale of its 45% of Yoplait China to a group affiliated with IDG Capital for…
New quack at life? Zhou Hei Ya seeks flight back to relevance
The chain offering snacks made from braised duck necks has opened its first store in Southeast Asia as it concurrently aims to revive its flagging China operation Key Takeaways: Zhou…
Stumbling Transsion calls on Hong Kong investors. But will they answer?
The budget cellphone specialist has filed for a Hong Kong IPO, even as its revenue began to fall in the second half of last year Key Takeaways Transssion has filed…
Healthcare/biotech 
Lagging in the weight-loss market? Take Fosun’s GLP-1 pill
Playing catch-up in the anti-obesity business, Pfizer has bought global rights to an oral weight-loss drug from Fosun Pharma in another big licensing deal Key Takeaways: With the drug still…
Sainte Nutritional ladles up sinking business in renewed IPO application
The special-purpose formula maker’s net profit rose in the first half of this year, but the gains were due to factors unrelated to its core business Key Takeaways: Sainte Nutritional…
3SBio gears up for drugs battle with $400 million equity move
After grabbing the spotlight this year with a big licensing deal, the Chinese drug developer is now raising extra funds for R&D and shedding a non-core subsidiary Key takeaways: 3SBio…
Ming Yu seeks a share of the drug sector limelight
Led by a former research chief at drugs giant Hengrui, the Chinese biotech can boast solid credentials and big-name backers as it positions for a Hong Kong IPO Key Takeaways:…
Finance 
Tian Tu’s Yoplait China sale leaves sweet, but also sour, taste
The venture capital company has set a new date of Dec. 31 to finalize the sale of its 45% of Yoplait China to a group affiliated with IDG Capital for…
A Chinese EV giant’s financing reckoning, and a stockbroker’s commodities pivot
China's central bank is shutting down an IOU system used by BYD to pay its suppliers. Why is it taking this step? And revenue for a stock broker called GoFintech has soared more than 40-fold after it entered the commodities trading business. How should investors look at such a move?
Yixin cruises in sweet spot in China’s sputtering car market
The online car loan facilitator processed nearly a quarter more transactions year-on-year in the third quarter, defying overall sluggishness in China’s auto market Key Takeaways: Yixin handled 235,000 transactions in…
Waterdrop splashes back to revenue growth. But are investors listening?
The insurance broker’s revenue rose 38.4% in the third quarter, boosted by a 20-fold increase for its young technical services business Key Takeaways: Waterdrop looks set to return to strong…
Ecommerce 
Atour celebrates ‘Year of the Pillow’ with fluffy revenue growth
The hotel operator expects to report 35% revenue growth for all of 2025, up from a 25% forecast at the start of the year, thanks to strong performance for its…
Luckin Coffee eyes global leap as China’s Double 11 loses its luster
Luckin could be preparing a bid for Costa Coffee. What's driving this potential deal, and what are its chances for success? And this year's Double 11 festival looks like a dud, with most big e-commerce companies failing to publish any big numbers. What does the future hold for this fast-fading shopping fest?
Can So-Young find new youth in bricks and mortar?
The cosmetic surgery specialist’s top line is growing as it opens new ‘light medical aesthetic’ clinics, but its bottom line is sagging as its older platform business evaporates Key Takeaways:…
With so many new IPOs, Quantgroup looks better left for high-risk investors
The operator of the Yangxiaomie lifestyle platform has filed to list in Hong Kong – its seventh such attempt – hoping it can succeed in the current hot market Key…
AI/Infrastructure/Resources 
AI computing boom triggers IPO rush by circuitry firms
Delton Tech is the latest supplier of printed circuit boards to apply for a Hong Kong listing, seeking funds to keep pace with demands from AI computing Key Takeaways: The…
China’s Android turf war faces a regulatory reckoning
After years of controlling the apps on their products, smartphone brands are on notice that China’s market regulator won’t tolerate unfair practices like app blocking and traffic hijacking By…
Foreign firms face China’s cutthroat competition, while AI threatens knowledge platform Zhihu
A new survey is showing foreign investors in China are most concerned about cutthroat competition from Chinese rivals rather than the traditional concerns over market access. What's behind this changing mindset? And Q&A knowledge-sharing site Zhihu is facing an existential challenge from AI. How can the company compete in the face of such a big threat?
Seyond survives marathon journey to Hong Kong listing
The maker of autonomous driving sensors has completed a backdoor SPAC listing nearly a year after signing a merger agreement for the deal Key Takeaways: Seyond has become only the…
