Hong Kong Stock Exchange

Key Takeaways: Fourth Paradigm’s IPO application has been accepted by the Hong Kong Stock Exchange, as it targets up to HK$1.15 billion in fundraising The AI company lost 291 million yuan on 644 million yuan in revenue in this year’s first quarter By Lau Chi Hang With artificial...

Key Takeaways: Fenbi performed well across its three major businesses in the first half, with gross margin on classroom-based tutoring jumping 10 percentage points to 46.3% Going forward, the company plans to invest in upgrading its AI technology By Molly Wen China’s weakening economy has...

Hong Kong Stock Market Hong Kong stocks still recorded declines after repeated shocks last week. Although the decline was not large, it had a certain negative impact on the short-term structure. At the beginning of the week, under the influence of many targeted policies, the market carried out...

Key Takeaways: ZG Group will raise HK$605 million from new investors through its SPAC merger with Aquila Acquisition, valuing the company at HK$10 billion The company lost a combined 1.1 billion yuan in the past three years and reported an additional 44.6 million yuan loss in this year’s...

Key Takeaways: China Renaissance’s revenue fell about 7% year-on-year in the first half, while its net loss narrowed slightly The results highlight the company’s challenges as its founder remains absent and economic uncertainty leads to weak fundraising demand from Chinese companies...

Hong Kong Stock Market The performance of Hong Kong stocks last week was first high and then low. Under the influence of the multiple policies from the Securities Regulatory Commission and the People’s Bank of China, it still brought a certain positive stimulus to the market. Eventually...

Key Takeaways: New Horizon Health posted a 61.3 million yuan adjusted profit in the first half of 2023, benefiting from soaring revenue for its three approved products The company sees big growth potential for its home-based cervical cancer screening product By Molly Wen Despite taking advantage...

Key Takeaways: With no product or licensing revenue, Sunho Biologics has been piling up debts from high R&D spending The company only just crept over the listing threshold after a fund-raising round in May boosted its market capitalization By Molly Wen Hong Kong’s IPO market has been...

Key Takeaways: HeyTea’s opening of a London store, its first outside Asia, was marked by long lines and general chaos, leading some to complain on social media The premium tea chain has been mum on potential plans to revive a stalled IPO, even as some rivals may be considering Hong Kong and...

Hong Kong Stock Market The Hong Kong stock market continued to decline last week, with too many negative news and pressures in the market, including the double blow of stock and bond prices of Country Garden, anti-corruption in the pharmaceutical industry, leading to an overall market weakness and...

Key Takeaways: Country Garden warned it expects to report a loss of up to 55 billion yuan for the first half of this year The leading property developer’s sales fell 35% in the first seven months of this year, reaching 140.8 billion yuan By Yi Xi The launch of China’s “Three Red...

Key Takeaways: East Buy swiftly launched a 15% discount on its own app after the Douyin livestreaming account was blocked More than 330,000 users downloaded its app in a single day, triggering a share price rally By Molly Wen E-commerce newcomer East Buy Holding Ltd. (1797.HK) is making...

Key Takeaways: •     Tom Group returned to the red in the first half of this year, after posting its first annual profit last year since 2018 •     The company earns most of its revenue from a Taiwan publishing unit, and also invests in tech...

Key Takeaways: KPMG has abruptly resigned as Huafang’s auditor, dealing a major setback as the company seeks to end a four-month trading suspension of its shares The livestreaming entertainment platform’s secretary and vice president Jiao Yang resigned a month after trading of Huafang...

GDP growth rate is improving. In the first half of 2023, China’s GDP grew by 5.5% year-on-year. By quarter, it grew by 4.5% in the first quarter and 6.3% in the second quarter. In the first and second quarters of 2022, GDP grew by 4.8% and 0.4% respectively. Under the low base of last year...