Trade tensions threaten to unravel Texhong turnaround story
The yarn maker has been profitable since the second half of 2023, but its recent turnaround could be threatened by new U.S. tariffs against Chinese exports Key Takeaways: Texhong reported…
2678.HK
The state steps in to shield China Vanke from debt crunch
Default risks have receded at the embattled property developer after a state-backed support effort, but business recovery is still a long way off Key Takeaways: The head of the firm’s…
2202.HK
000002.SHE
Gasping Huabao’s profits go up in smoke
The vaping device and component maker warned it will report a pre-tax loss of up to 455 million yuan last year after taking up to 1 billion yuan in one-time…
0336.HK
300741.SHE
After a failed Fosun buyout, what's next for drug maker Henlius Biotech?
Hong Kong shareholders have foiled plans by Fosun Pharma to take its biologics subsidiary off the stock market at half the IPO price Key Takeaways: Fosun Pharma has pledged to…
2696.HK
From its ‘liquor lookalike’ roots, Dayao crafts a new beverage story for the young
The soda brand that has expanded beyond its Inner Mongolia base in recent years is reportedly pursuing a Hong Kong IPO Key Takeaways: Dayao earned 3.2 billion yuan in revenue…
Auditor drama casts unflattering light on Lufax at already-difficult time
The online loan facilitator moved to fire PwC after the accountant raised a red flag over some related-party transactions Key Takeaways: Lufax’s board has proposed terminating PwC as its external…
6623.HK
LU.US
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IPO 
From its ‘liquor lookalike’ roots, Dayao crafts a new beverage story for the young
The soda brand that has expanded beyond its Inner Mongolia base in recent years is reportedly pursuing a Hong Kong IPO Key Takeaways: Dayao earned 3.2 billion yuan in revenue…
Fortior hopes to ride China chip wave to high valuation
The maker of microchips used in BLDC motors has filed for a Hong Kong IPO that could raise several hundred million dollars Key Takeaways: Fortior has becoming the latest Chinese…
Chicken challenger Ting-Qiao preps for Hong Kong IPO
The KFC rival and operator of the popular Dicos chain reportedly plans to serve up shares for investors four years after rumors of such a listing first emerged Key Takeaways:…
Impression Dahongpao trapped in its one-trick pony performance
The producer of an outdoor performances at a popular South China tourism spot has taken its own show on the road with a Hong Kong IPO application Key Takeaways: Impression…
New Energy 
Suntien picks up as it digests massive wind power buildup
The wind farm operator said its power generation stabilized in the second half of last year as it curbed its spending on new projects Key Takeaways: Suntien Green Energy said…
0956.HK
600596.SHG
Lopal steers back towards profitability after tough two years
The maker of cathode materials for lithium iron phosphate batteries appears to be on the mend after slipping into the red in 2023 and 2024 Key Takeaways: Lopal said it…
2465.HK
603906.SHG
Jinsheng New Energy gets price volatility shock on road to IPO
Plunging lithium prices caused the NEV battery recycler’s revenue to flatten in 2023 and start contracting in the first half of last year, as it files to list in Hong…
PREMIUM CONTENT
Consumer 
Gasping Huabao’s profits go up in smoke
The vaping device and component maker warned it will report a pre-tax loss of up to 455 million yuan last year after taking up to 1 billion yuan in one-time…
0336.HK
300741.SHE
From its ‘liquor lookalike’ roots, Dayao crafts a new beverage story for the young
The soda brand that has expanded beyond its Inner Mongolia base in recent years is reportedly pursuing a Hong Kong IPO Key Takeaways: Dayao earned 3.2 billion yuan in revenue…
Chicken challenger Ting-Qiao preps for Hong Kong IPO
The KFC rival and operator of the popular Dicos chain reportedly plans to serve up shares for investors four years after rumors of such a listing first emerged Key Takeaways:…
Beating its rivals but losing to the times, TVB fades on Hong Kong entertainment stage
The former Hong Kong broadcasting superstar’s business improved slightly in last year’s fourth quarter Key Takeaways: TVB’s advertising revenue rose 10% year-on-year in the fourth quarter of 2024 Hong Kong’s…
0511.HK
Impression Dahongpao trapped in its one-trick pony performance
The producer of an outdoor performances at a popular South China tourism spot has taken its own show on the road with a Hong Kong IPO application Key Takeaways: Impression…
Healthcare/biotech 
After a failed Fosun buyout, what’s next for drug maker Henlius Biotech?
Hong Kong shareholders have foiled plans by Fosun Pharma to take its biologics subsidiary off the stock market at half the IPO price Key Takeaways: Fosun Pharma has pledged to…
2696.HK
A Drug Company’s Forced Sales, and a Family Feud in Shanghai
A family of biotech contracting companies in Wuxi has begun selling offshore assets under pressure from Western governments worried about national security. And a family feud in Shanghai has left a $1 billion luxury villa complex in limbo.
2269.HK
2359.HK
BeiGene heads for profit milestone after hemorrhaging cash
With a blockbuster drug under its belt and another product approved for U.S. sale, the biopharma firm says it is on track to post an annual operating profit this year…
6160.HK
ONC.US
688235.SHG
TCMTech fuses old with the new by mixing AI and Chinese medicine
China’s biggest provider of AI-empowered healthcare services using traditional Chinese medicine has filed for a Hong Kong IPO Key Takeaways: TCMTech has filed to list in Hong Kong, reporting its…
Finance 
Auditor drama casts unflattering light on Lufax at already-difficult time
The online loan facilitator moved to fire PwC after the accountant raised a red flag over some related-party transactions Key Takeaways: Lufax’s board has proposed terminating PwC as its external…
6623.HK
LU.US
Waton plays up fintech transformation, though without much evidence
The online stockbroker prominently highlights its focus on fintech services as it seeks a New York IPO, but its financial results don’t quite back that up Key Takeaways: Waton is…
SPONSORED: ARK Wealth outlines global asset allocation strategies at inaugural flagship summit
The recently launched unit of asset manager Noah Holdings aims to service Chinese looking to invest overseas Key Takeaways: Noah recently launched ARK Wealth Management, an international wealth management platform…
6686.HK
NOAH.US
FinVolution finds riches, achieves growth despite headwinds, in global markets
The fintech lender launched its international expansion in 2018, and plans to enter more countries this year and next Key Takeaways: FinVolution has accelerated its overseas expansion as demand slows…
FINV.US
Ecommerce 
East Buy ends superstar influencer addiction – but at a big price
The livestreaming e-commerce company’s revenue declined and it fell into the red in the first half of its fiscal year after the departure of its key online salesman Dong Yuhui…
1797.HK
Shein loses its shine on bumpy path to London listing
The fast fashion giant’s lack of transparency about its cotton sourcing could hurt its valuation in the long and turbulent journey to its IPO Key Takeaways: Shein’s reported plan to…
Weimob gets early Christmas ‘gift’ from WeChat
The provider of services to e-commerce merchants on WeChat is expected to benefit from the platform’s new ‘Send Gifts’ program Key Takeaways: Weimob’s share price doubled in four days last…
2013.HK
Its growth cooling, can Kanzhun stay employed in a slowing economy?
China’s leading recruitment company delivered double-digit third-quarter growth for most of its major metrics, though its revenue growth showed signs of slowing Key Takeaways: Kanzhun’s revenue grew nearly 20% in…
2076.HK
BZ.US
Infrastructure/Resources 
Trade tensions threaten to unravel Texhong turnaround story
The yarn maker has been profitable since the second half of 2023, but its recent turnaround could be threatened by new U.S. tariffs against Chinese exports Key Takeaways: Texhong reported…
2678.HK
Fortior hopes to ride China chip wave to high valuation
The maker of microchips used in BLDC motors has filed for a Hong Kong IPO that could raise several hundred million dollars Key Takeaways: Fortior has becoming the latest Chinese…
ACM Research straddles growing U.S.-China microchip divide
The California-based manufacturer of chipmaking equipment is growing quickly on demand from China, even as its strong Chinese ties become increasingly tricky Key Takeaways: ACM Research, a U.S.-based chip equipment…
ACMR.US
688082.SHG
TSMC profits from AI development, no matter which way political winds blow
Despite being continually caught in tensions between the U.S. and China, the Taiwanese chipmaker’s latest results demonstrate its prowess as an AI powerhouse Key Takeaways: TSMC reported revenue of $26.88…
2330.TW
TSM.US