Futu layoffs signal new phase of consolidation after rapid expansion
The company reportedly laid off about 200 people at its main base in Shenzhen, as it prepares to be ‘relatively disciplined’ in 2025 Key Takeaways: Futu has laid off about…
FUTU.US
Singapore business dynasty has Vitasoy in its sights
The Hong Kong beverage brand has been recovering from a sales slump in mainland China, but its founding family could now face a takeover challenge Key Takeaways: Vitasoy’s profits rose…
0345.HK
0083.HK
Xuanzhu Biopharm set for spin-off in Hong Kong IPO
The cash-strapped company has launched a drug to treat duodenal ulcers and is seeking approval for other products, but is up against a host of competing medicines Key Takeaways: Xuanzhu…
0460.HK
Noah’s development arc takes overseas turn as life at home only gets tougher
The asset management firm’s overseas revenue growth partially offset a decline in its core domestic business in the third quarter Key Takeaways: Noah’s overseas revenue grew 29% year-on-year in the…
6686.HK
NOAH.US
Tsui Wah goes to college as consumers dine out less
The restaurant operator is looking for new business on university campuses amid persistent weakness in its two main markets in Hong Kong and Mainland China Key Takeaways: Tsui Wah’s revenue…
1314.HK
Super Hi’s new chief chef brings China hotpots to the world
The global arm of hotpot giant Haidilao posted double-digit revenue growth and its second quarterly profit in the three months to September under new CEO Yang Lijuan Key Takeaways: Super…
9658.HK
HDL.US
FAST NEWS
Discover hidden China stock gems in our weekly newsletter
IPO 
Mao Geping’s Hong Kong IPO gets lift from regulatory nod
The planned listing by China’s second-ranking domestic cosmetics brand has been approved by the Mainland Chinese securities regulator Key Takeaways: Mao Geping’s Hong Kong IPO has been cleared by the…
IPO pitch puts BrainAurora’s earnings under the microscope
The provider of digital diagnostics and therapies has linked up with Chinese hospitals to detect conditions such as Alzheimer’s and brain trauma, but the business has yet to turn a…
Cash-strapped Mirxes looks for lifeline in blood-based cancer detection
The Singaporean company has filed for a Hong Kong IPO, hoping to wow investors with its product that can screen for gastric cancer using blood tests Key Takeaways: Mirex’s blood-based…
Dmall shops for investors, even as business remains mostly a family affair
The provider of SaaS products for retailers has filed for a Hong Kong IPO, sporting a customer list mostly comprised of companies affiliated with its parent, Wumei Key Takeaways: In…
New Energy 
NaaS drives into third quarter with first-ever quarterly non-IFRS profit
The provider of services for EV charging station operators also posted its highest-ever gross margin in the third quarter, as it shifted its focus to an asset-light business model Key…
Zeekr’s IPO honeymoon ends with forced marriage to Lynk & Co.
The recently listed maker of luxury electric vehicles controlled by Geely will pay $1.3 billion for 51% of one of its parent’s units that only recently entered the EV market…
DeepRoute.ai gets $100 million charge from auto investor
The company is one of the few from an increasingly crowded autonomous driving sector to raise new private funding in the last two years, as many of its peers make…
Consumer 
Singapore business dynasty has Vitasoy in its sights
The Hong Kong beverage brand has been recovering from a sales slump in mainland China, but its founding family could now face a takeover challenge Key Takeaways: Vitasoy’s profits rose…
Super Hi’s new chief chef brings China hotpots to the world
The global arm of hotpot giant Haidilao posted double-digit revenue growth and its second quarterly profit in the three months to September under new CEO Yang Lijuan Key Takeaways: Super…
Tsui Wah goes to college as consumers dine out less
The restaurant operator is looking for new business on university campuses amid persistent weakness in its two main markets in Hong Kong and Mainland China Key Takeaways: Tsui Wah’s revenue…
A McDonald’s Valuation Downsize, and New Medical Plan Additions
The value of McDonald's China operation has plunged by more than half in the last year. And 91 companies got their drugs added to China's national health plan By Doug…
Nongfu Spring founder casts spotlight on destructive price wars plaguing China
Billionaire Zhong Shanshan blamed low-cost e-commerce platform Pinduoduo, as well as short-video site Douyin, for the cutthroat competition Key Takeaways: Nongfu Spring has criticized China’s cutthroat price wars, even as…
Healthcare/biotech 
Xuanzhu Biopharm set for spin-off in Hong Kong IPO
The cash-strapped company has launched a drug to treat duodenal ulcers and is seeking approval for other products, but is up against a host of competing medicines Key Takeaways: Xuanzhu…
A McDonald’s Valuation Downsize, and New Medical Plan Additions
The value of McDonald's China operation has plunged by more than half in the last year. And 91 companies got their drugs added to China's national health plan By Doug…
Everest gets boost from core product Nefecon’s inclusion in China’s national health plan
Nefecon’s addition to China’s NRDL will increase its reach and market share, lifting the drug’s competitive advantage and brand recognition Key Takeaways: Everest Medicines’ Nefecon kidney drug was approved for…
Bumper dividend could trigger buyout for Ping An Health
Months after eking out its first profit, the online healthcare platform is planning to drain most of its financial reserves to pay a whopping special dividend Key Takeaways: The firm…
Finance 
Futu layoffs signal new phase of consolidation after rapid expansion
The company reportedly laid off about 200 people at its main base in Shenzhen, as it prepares to be ‘relatively disciplined’ in 2025 Key Takeaways: Futu has laid off about…
Noah’s development arc takes overseas turn as life at home only gets tougher
The asset management firm’s overseas revenue growth partially offset a decline in its core domestic business in the third quarter Key Takeaways: Noah’s overseas revenue grew 29% year-on-year in the…
Boyaa Interactive hitches a ride on bitcoin
In a climate where most companies are suffering from China’s economic slowdown, Boyaa’s crypto bets helped it deliver a glowing report for the first nine months of this year Key…
Sunshine tries out asset leasing as insurance demand cools
The insurer has agreed to invest in a financial leasing company owned by Legend Holdings in an attempt to diversify its businesses Key Takeaways: Sunshine Insurance will acquire 39.9% of…
Ecommerce 
ZTO fights for market share as parcel pace slows
The Chinese logistics giant posted higher quarterly revenues and profits, but a moderating growth rate for parcel deliveries was a red flag for investors Key Takeaways: ZTO’s parcel volume grew…
Shengwei faces long road to profit with ride-hailing losses
The transport services firm has filed for a Hong Kong IPO, looking to build on its success as a ticketing hub for road, rail and air travel Key Takeaways: Hit…
China Inc Under Trump, and a Property Developer’s Rapid Reorganization
What should Chinese companies expect in Trump 2.0? And a mid-tier property developer advances a plan to reorganize its offshore debt at lightning speed. By Doug Young & Rene Vanguestaine…
After years of shopping around, Dingdong bags formula for profits
The online grocer reported its third consecutive quarterly profit in the three months to September, and now boasts profit margins similar to Walmart and Kroger Key Takeaways: Dingdong’s revenue rose…
Infrastructure/Resources 
Full Truck Alliance fires on all cylinders with strong earnings report
The number of truckers using the digital freight platform hit the 4 million mark in the third quarter, while its monthly active shippers totaled 2.84 million Key Takeaways: Full Truck…
Hesai zooms ahead in third quarter, setting stage for milestone year
The autonomous driving sensor technology company posted 183% shipment growth in the third quarter and is rapidly approaching year-end profitability Key Takeaways: Hesai’s third quarter revenue rose 21.1% year-on-year to…
Lenovo’s AI seeds begin bearing fruit, as geopolitics continue to weigh
The leading PC maker’s profit jumped 41% in the first half of its fiscal year as its diversified artificial intelligence gambit starts paying off Key Takeaways: Global PC leader Lenovo’s…
Shengwei faces long road to profit with ride-hailing losses
The transport services firm has filed for a Hong Kong IPO, looking to build on its success as a ticketing hub for road, rail and air travel Key Takeaways: Hit…
