Key takeaways:1、Xinjiang Goldwind reported second quarter revenue of $1.48 billion, down 9% from a year earlier2、The company is benefitting from a global push towards renewable energy sources, but its profit margins are feeling pressure as building activity slows in its core home marketThe enormous turbines have been turning full tilt these last few years at wind farms owned by or using equipment from Xinjiang Goldwind Science & Technology Co Ltd. (2208.HK; 002202.SZ), China’s leading maker of wind power equipment. But those engines are also showing signs of slowing these days, as evidenced by the company’s latest results that show the company’s revenue and profit both fell in the second quarter.China’s leading maker of wind power equipment reported revenues of 10.1
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China East Education Suffers Covid Slowdown
Key takeaways: 1、China East Education’s revenue fell 6.1% in the first half of the year, as its new student enrollments dropped 14% due to Covid-related disruptions 2、Income fell 12% for the company’s cooking academies that account for 60% of its total revenue, reflecting soft demand from the struggling restaurant industry The latest results from vocational schools operator China East Education Holdings Ltd. (0667.HK) contain a few interesting lessons, including a growing preference from young Chinese adults for longer-term courses typically lasting three years or more. But the longer-term lesson remains relatively constant, namely that such vocational educators are well placed to benefit from Beijing’s drive to build up the country’s adult education sector, with the pr
China East Education Suffers Covid Slowdown
Yalla Earns Record Q2 Revenue, Moves Ahead with New Initiatives
Key takeaways: 1、Yalla generated record revenue in the second quarter despite a month-long Ramadan holiday, thanks to better user monetization and cost controls 2、Company bolstered its position in its home market with the naming of a former UAE telecoms chief as a new independent director After starting as a voice-focused social networking service, Yalla Group Ltd. (YALA.US) is trying to take itself to the next level by adding more diversified offerings like text, graphics, gaming and even a bit of the metaverse to its platform. The overhaul comes as the company seeks to reignite the explosive growth that briefly made it an investor darling, but has faded somewhat lately. That’s the big picture coming through in the company’s latest earnings report, which is filled with upda
Yalla Earns Record Q2 Revenue, Moves Ahead with New Initiatives
Biocytogen Unleashes High-Tech Mice to Lure IPO Investors
Key takeaways: 1、Gene-edited lab mice provider Biocytogen has passed a listing hearing in Hong Kong, with plans to raise $50 million 2、The company operates RenMice, a proprietary platform for genetic mouse modification, and is expanding into antibody drug development They send most people scurrying, but mice have found an unlikely patron in China’s Biocytogen Pharmaceuticals (Beijing) Co. Ltd., which has passed a listing for a Hong Kong IPO. Though perhaps the furry little rodents wouldn’t see it that way. Biocytogen has made a small fortune by riding China’s boom in new drug development over the last few years. That’s driving up demand for lab animals such as rats and monkeys, as well as the mice that are the company’s bread-and-butter. Despite its relatively unusual business model,
Biocytogen Unleashes High-Tech Mice to Lure IPO Investors
GigaCloud Joins Wall Street Parade of China Meme Stocks
Key takeaways: 1、GigaCloud’s shares quadrupled in their New York trading debut, as the company became the latest newly listed Chinese stock in the U.S. to post massive early gains 2、The B2B e-commerce company appears to be the latest meme stock on Wall Street, following an even more meteoric rise this month by the newly listed AMTD Digital Who says U.S.-listed China stocks have become investor pariahs? Not e-commerce site GigaCloud Technology Inc. (GCT.US), whose shares came roaring out of the gate with a 300% jump in their New York trading debut last Friday. The company sold IPO shares at $12.25, representing the upper end of their previously given range. Such strong pricing is always a good indicator of strong investor demand, though it’s unlikely anyone would have pr
GigaCloud Joins Wall Street Parade of China Meme Stocks
Xinjiang Goldwind’s Growth Flags in Latest Quarter
Xinjiang Goldwind’s Growth Flags in Latest Quarter
Trucking Specialist TuSimple’s Latest Report Is Hardly Simple
Key points: 1、TuSimple’s recent hiring spree and growing stable of major trucking partners show its autonomous driving technology is moving closer to commercialization$TuSimple Holdings Inc.(TSP)$ 2、Company’s highlighting of U.S. developments and muted discussion on China show it is rapidly moving its focus to the U.S. By Doug Young On the surface at least, autonomous truck driving specialist TuSimple Holdings Inc’.s (TSP.US) latest earnings report looks a lot like its name: quite simple. That view would say the report shows a company based in the U.S. and China that is rapidly ramping up its self-driving truck technology as it eyes a lucrative commercial rollout in the not-too-distant future. But given the company’
Trucking Specialist TuSimple’s Latest Report Is Hardly Simple
Rising Losses, Intensifying Regulations Hobble ‘Fast Dog’ Gogox
Key takeaways: 1、Gogox warned that its loss grew sharply in the first half of the year, as its shares have lost more than two-thirds of their value since their June IPO 2、China’s Transport Ministry’s clampdown on fierce competition among freight transport platforms could hinder Gogox’s business expansion that relies on user subsidies Gogox Holdings Ltd. (2246.HK)sprinted out of the gate when the company, whose name means “quick dog,” became Hong Kong’s first publicly listed intra-city logistics platform in June. But just two months later, the company is quickly losing its wind after its shares fell into a downward spiral that saw them tumble as much as 80% from their IPO price. Each new trouble seems to come fast on the heels of the last. Last week the company warned it expe
Rising Losses, Intensifying Regulations Hobble ‘Fast Dog’ Gogox
Wuxin Tech Hopes IoT Focus Will Draw Attention from China Roots
Key takeaways: 1、Wuxin Technology is looking to raise up to $39 million in a New York IPO, joining a small group of Chinese companies still looking to tap U.S. markets despite frosty China-U.S. relations 2、The company is in a sector strongly supported by Beijing, but is also vulnerable to risk from China’s broader efforts to tighten regulation of tech companies Add Wuxin Technology Holdings Inc. (WXT.US) to a small group of Chinese companies that are still looking to tap the U.S. equity market, unfazed by frosty relations between Washington and Beijing. While the company may well deserve credit for its audacity, investors have lots of reasons to keep a wary eye on its stock – if it actually makes it to market. Some might argue the company, which makes chips used in internet-of-th
Wuxin Tech Hopes IoT Focus Will Draw Attention from China Roots
Catching Listing Chill, Dingdang Health Slashes Hong Kong IPO
Key takeaways:1、Dingdang Health has passed a listing hearing in its second try at a Hong Kong IPO, aiming to raise $100 million2、The company has shifted from its original asset-light to a more asset-intensive model to make good on its promise of faster deliveriesHong Kong is finally opening the door for digital retail pharmacy Dingdang Health Technology Group Ltd., approving the company’s IPO at a listing hearing after rejecting its first attempt last year. But investors may be less welcoming of the company, whose Chinese name sounds like a doorbell ringing to emphasize the speedy deliveries that are also driving up its costs.Following its failed application last year,DingdangHealthfiled for an IPO again in March and passed its listing hearings in the middle of this month. It has enli
Catching Listing Chill, Dingdang Health Slashes Hong Kong IPO
MingMed Joins Queue of Revenue-less Drug Startups Seeking IPO
Key takeaways: 1、With no drug revenues and growing R&D costs, MingMed Biotechnology plans to feed its cash-burning machine with a Hong Kong IPO 2、Company has seven drugs in development, including six in the clinical stages Despite nary a penny to their top line, a steady string of money-hemorrhaging Chinese innovative drug makers have lined up to list in Hong Kong since the city permitted the unprofitable group to do so in 2018. The latest on the list is MingMed Biotechnology Co. Ltd., which filed a listing application in mid-August, naming CICC and Credit Suisse as co-sponsors. The company has seven drugs under development, six in the clinical stages. Since last year, MingMed has had three clinical trial applications approved by the U.S. Food and Drug Administration (FDA). It has
MingMed Joins Queue of Revenue-less Drug Startups Seeking IPO
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