Articles written by Bamboo Works - Benzinga

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

Nayuki Tweaks Franchising Model As Competitors Serve Up Rival Listings

Chow Tai Fook Glitters As Hedge Against Lower Interest Rates

Key Takeaways: Chow Tai Fook’s sales grew 12.4% in the first three months of this year, accelerating from the company’s 6% revenue growth in the six months through September 2023 As China’s largest listed jeweler, Chow Tai Fook could benefit from gold’s recent rise to record high prices By Edith Terry

'Perfect Storm' Of Factors Fuels Rise In Smartphone Recycling

By Kerry Xuefeng Chen

Deadbeat Developer Debt Collection Enters New Phase With Shimao Liquidation

Key Takeaways: A unit of China Construction Bank has asked a court to liquidate Shimao Group, which had a net debt ratio of 473.2% at the end of last year CCB Asia has taken legal action against three Hong Kong-listed Chinese real estate developers so far this year By Li Shih Ta

BenQ Hospital Files For IPO As Business Looks Stable, But With Few Growth Spots

Key Takeaways: BenQ Hospital has filed to list in Hong Kong, reporting its revenue rose 15% last year to 2.69 billion yuan China’s largest private hospital operator will use its IPO funds to expand and upgrade its existing facilities By Lau Chi Hang

China's Moderately Expansive Fiscal Stance Boosts Economic Recovery

By CCB International

Is Niu Technologies Ready To Charge Ahead Again?

Key Takeaways: Niu Technologies said its unit sales at home and abroad rose more than 30% in the first quarter, following a tough 2023 when its revenue fell 16% The electric scooter maker’s shares jumped 34% from an all-time low in the week following the announcement By Edith Terry

Guoquan Food Boosts Efficiency. But Is That Enough For Growth-Hungry Investors?

Key Takeaways: Guoquan Food’s revenue fell 15% year-on-year last year to 6.09 billion yuan, but it managed to post 9.3% profit growth on greater efficiency The provider of hotpot ingredients for home dining has responded to changes in consumer dining habits, but there’s little space for more efficiency gains this year

Juicy Margins Set Zhongmiao Apart Among Stodgy Insurers

Key Takeaways: Insurance broker Zhongmiao, backed by appliance giant Haier Group, has filed to list in Hong Kong The company has a small revenue base but boasts strong profits by focusing on lucrative corporate insurance and using a light cost structure By Warren Yang

YTO International Ships In New CEO As Its Revenue Fails To Deliver

Key Takeaways: YTO International’s profit fell 29.2% to HK$96.8 million last year, as its revenue fell at a similar rate to HK$5.29 billion The international arm of one of China’s leading delivery companies replaced its CEO Sun Jian with newcomer Zhou Jian, former CEO of Shenzhen Fengwang Express By Li Shih Ta

Zeekr Steps On IPO Accelerator As Its Prospects Run Low On Fuel

Key Takeaways: Zeekr has reportedly restarted its IPO process with reduced fundraising plans, seeking to list before its valuation falls more as prospects worsen for Chinese NEV makers The company’s revenue from vehicle sales slowed to 44% year-on-year in the second half of last year from about 150% in the first half