VIDEO BRIEF: Toys for grown-ups, inside China’s $15 billion collectible toy boom
Last year alone, collectors worldwide spent nearly 2 billion US dollars on blind boxes from Chinese collectible toy sensation POP MART. That fueled a sales explosion that lit a fire…
9992.HK
0325.HK
Huge Dental hopes Hong Kong smiles on its latest listing attempt
The dental products and materials maker derives 70% of its revenue from China, but plans to use IPO proceeds for a new production base in Indonesia Key Takeaways: Huge Dental…
Its bitcoin bet behind it, can Meitu find sustained profits in its beauty business?
The beauty software maker has sold all its cryptocurrency holdings and plans to use the profits for business development and a special dividend Key Takeaways: Meitu has sold off the…
1357.HK
Hoping for better luck, HK stocks enter the Year of the Dragon
The Hang Seng Index plunged 28.6% in the year of the rabbit, hurt by China’s slow economic recovery and simmering tensions with the United States. Investors will be looking for…
9988.HK
0388.HK
Baiwang eyes Hong Kong IPO to support its money-hungry loan facilitation business
The Chinese provider of cloud-based services has found a niche by helping micro and small enterprises analyze their tax and other financial big data Key Takeaways: Baiwang has filed for…
PODCAST: Japanese Auto Cuts, and a Drugmaker's Fall
By Doug Young & Rene Vanguestaine Nissan and Honda weigh major cuts of up to 30% in their China car production. What's driving the trend, and is it likely to…
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IPO 
Reborn Unisplendour trades in chips for digits
The new rendition of former chip highflyer Tsinghua Unigroup is charting a pragmatic course, shifting from M&A-driven expansion to digital infrastructure Key Takeaways: Unisplendour has filed for a Hong Kong…
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…
Forest Cabin outpowers L’Occitane, global rivals with aggressive marketing
The 22-year-old skincare brand has filed for a Hong Kong IPO, boasting a higher gross margin than its larger European peer Key Takeaways: Forest Cabin has filed for a Hong…
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…
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 
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…
Forest Cabin outpowers L’Occitane, global rivals with aggressive marketing
The 22-year-old skincare brand has filed for a Hong Kong IPO, boasting a higher gross margin than its larger European peer Key Takeaways: Forest Cabin has filed for a Hong…
Harrods retreats from Shanghai as private colleges face degree of reckoning
British retailer Harrods is pulling out of China, just five years after launching its luxury lifestyle brand in the market. Why is it leaving, and are other luxury brands going to follow? And university campus operator XJ International has been selling assets as college education loses its luster. Why are less Chinese interested in such secondary education these days?
Muyuan eyes global pig pen with Hong Kong IPO
The world’s largest pork producer could raise up to $1 billion in a blockbuster listing that would be one of the largest by a consumer company this year Key Takeaways:…
Healthcare/biotech 
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:…
Neglected Burning Rock charms investors with high margins, narrowing losses
The cancer diagnostics company’s revenue rose slightly in the third quarter, as its gross margin rose by nearly 4 percentage points Key Takeaways: Burning Rock’s revenue rose 2.3% in the…
CSPC feels the pain from sweeping cuts in drug prices
The pharmaceutical giant is paying the price for its aggressively low bids in China’s centralized drug tenders, as it shifts its focus from traditional to novel drugs Key Takeaway: The…
Finance 
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…
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…
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 
Reborn Unisplendour trades in chips for digits
The new rendition of former chip highflyer Tsinghua Unigroup is charting a pragmatic course, shifting from M&A-driven expansion to digital infrastructure Key Takeaways: Unisplendour has filed for a Hong Kong…
InnoScience makes gains in patent dispute, as growing competition remains bigger threat
The U.S. International Trade Commission ruled largely in the GaN semiconductor maker’s favor last week in a patent dispute with Infineon, though a final decision is still pending Key Takeaways:…
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…
Earth Clone designer 51World faces IPO reality check
The maker of “digital twin” tools and simulations, including a plan for a virtual copy of the earth’s surface, is grappling with earnings pressure and rising competition Key Takeaways: The…
