Articles written by Bamboo Works - Benzinga

Are Pricey Warrants Powering Lotus Technology's Rally?

Key Takeaways: Lotus Technology said its backers could raise up to $173 million if holders of warrants to buy its stock at $11.50 per share exercise those warrants The stock currently trades well below the exercise price, but has rallied more than 40% in the last two weeks, hinting that some believe the company is undervalued

China Education Group Makes The Grade With Rising Profits

Key Takeaways: China Education Group has slowed its school purchases over the past two years, but spent a hefty 2 billion yuan on campus construction projects in the last six months The company’s financial situation is solid, with a cash reserve of 4.53 billion yuan and an interest-bearing debt ratio of 24.7%

ZhongAn May Be Betting On Property Rebound With Shanghai Office Buys

Key Takeaways: ZhongAn has agreed to buy two office buildings in Shanghai from a joint venture majority-owned by the Rockefeller Group China’s property market has been in a prolonged slump, but the commercial segment is showing early signs of recovery By Warren Yang

Bayzed Joins IPO Quest As Medical Rivalry Heats Up

Key Takeaways: Over the past three years, Bayzed Health Group’s revenue has grown at acompound annual rate of 52.4% The company’s gross profit grew rapidly from around 41 million yuan in 2021 to 178 million yuan in 2023 By Li Shin Ta

Super Hi Boils Up Overseas With New York Listing Application

Key Takeaways: Singapore-based Super Hi has filed for a New York IPO to complement its current listing in Hong Kong, reporting 23% revenue growth last year and its first-ever profit The international affiliate of Hong Kong-listed hotpot sensation Haidilao operates 115 restaurants globally, about half in Southeast Asia

China-Focused Tigermed Staves Off Biopharma Gloom

Key Takeaways: Tigermed has been scaling back its clinical programs amid falling demand for drugs research But the company is less exposed to U.S. policy risks than pharma giant WuXi AppTec By Molly Wen

DPC Dash Bakes Up Hot Growth In Drive To More Cities

Key Takeaways: DPC Dash’s revenue grew more than 50% last year, as it ramped up its strong push into second-tier Chinese cities The exclusive franchisee of Domino’s pizza in China aims to double its store count from 768 at the end of last year to more than 1,600 by 2026 By Doug Young

Yum China Revs Up Restaurant Expansion, Share Repurchases

Key Takeaways: Yum China repurchased 17.9 million of its shares this year through April 23, well ahead of the 12.4 million shares it bought back in all of 2023 and 10.6 million in 2022

WH Group Brings Back The Bacon With Rising Profits

Key Takeaways: WH Group reported its first-quarter profit rose 73% year-on-year to $301 million, though its quarterly revenue slumped 8.3% The improving performance follows a major restructuring of the U.S. operations for one of China’s leading pork producers By Lau Chi Hang

CMGE Turns Its Game To e-Sports With New Tie-Up

Key Takeaways: CMGE said it has formed a partnership with Guangzhou Chaojing Investment aimed at tapping the latter’s strong position in e-sports CMGE’s shares rose 3.2% on the news and have rallied 30% in the past week on renewed investors interest in the gaming sector after a prolonged crackdown that is now easing

Asia Cement Hardens Into Loss Column With No Relief In sight

Key Takeaways: Asia Cement warned it lost nearly 130 million yuan in the first quarter, reversing a 40.7 million yuan profit in the year-ago period The cement maker’s situation is unlikely to improve in the near-term as prices remain in the doldrums due to weak demand from the struggling property sector By Lau Chi Hang

Sunho Biologics Gets Green Light For Downsized IPO

Key Takeaways: Sunho Biologics has no revenue or licensing income to draw on, making a loss of 133 million yuan last year as all its products remain at the R&D or clinical stage

Hillhouse Boosts Longi Position After Robe, As It Pivots To Global Focus

Key Takeaways: Hillhouse Capital has raised its shareholding in Longi back to 5% after being investigated by the Chinese securities regulator for violating disclosure rules

New Horizon Health Launches Probe Into Disputed Sales Figures

Key Takeaways: New Horizon Health has brought in experienced accountants as independent directors and set up a special committee to investigate the allegations The controversy revolves around the company’s revenue accounting method, in which over-shipments of goods to distributors could inflate sales figures By Molly Wen

Is Baozun's Risky Leap Into Brand Management Starting To Pay Off?

Key Takeaways: Baozun’s revenues rose 5% last year following its acquisition of Gap China, which represented 14% of total annual sales Product sales from the company’s older e-commerce business fell by 21% last year, while e-commerce services revenue also slumped by 5% By Edith Terry

EHang Seeks Capital Refueling As Its Self-Flying Vehicles Inch Toward Grand Takeoff

Key Takeaways: EHang said it plans to sell up to $100 million worth of new shares in New York, more than double the amount it raised in its 2019 IPO The company is getting close to commercializing its self-flying aircraft, including its recent receipt of a regulatory certificate allowing it to mass-produce its flagship product

Fosun International On Cusp Of New 'Asset-Light' Era With Latest Sale

Key Takeaways: Fosun International’s total debt-to-capitalization ratio stood at 50.4% at the end of last year, down 2.9 percentage points from the previous year The company recently announced the sale of most of its stake in Belgian insurer Ageas, and has raised 57.3 billion yuan from similar asset sales over the past two years

Fosun Tourism's Post-Covid Holiday Fizzles

Key Takeaways: Fosun Tourism said business volume at its Atlantis Sanya mega-resort and Club Med chain rose 4.5% and 15.2%, respectively, in the first quarter

Autostreets In The Driver's Seat As China Gets Set For Used Car Trading Boom

Key Takeaways: Autostreets is reportedly aiming to raise $100 million or more in a Hong Kong IPO, seeking a rich valuation as China’s leading used-car trader Growth of used car sales in China is expected to accelerate in the next five years as Beijing promotes the sector and consumers become more budget conscious

Faded Sun Art Seeks To Shine Again In China's Changing Grocery Market

Key Takeaways: Sun Art lost 1.7 billion yuan in its latest fiscal year, as it tries to overhaul its business in the face of competition from grocers with stronger online components The loss owed largely to store closure-related charges and the company’s falling average value per transaction By Lau Chi Hang