Articles written by Bamboo Works - Benzinga

Hong Kong Builds 'Patient Capital' Ecosystem To Foster Technology

Yalla Holds Out 2025 As Its 'Year Of The Game' As Growth Picks Up

Key Takeaways: Yalla is nearing the testing phase for two of its self-developed mid-core games, with wide-scale launches possible sometime next year The company’s revenue grew 4.4% in the third quarter, but analysts expect that pace to pick up next year as it ramps up initiatives aimed at mid- and hardcore gamers

Mao Geping's Hong Kong IPO Gets Lift From Regulatory Nod

Key Takeaways: Mao Geping’s Hong Kong IPO has been cleared by the China Securities Regulatory Commission, but must still be approved by the Hong Kong Stock Exchange

Dmall Shops For Investors, Even As Business Remains Mostly A Family Affair

Key Takeaways: In its recent application for a Hong Kong IPO, Dmall revealed that its top five customers account for nearly 90% of its revenue Pre-IPO backers of the provider of software as a service for retailers include Tencent and Industrial Bank, as the company continues to report big losses By Bai Xinrui

Breton Eyes Big Haul From Investors With Hong Kong IPO Plan

Key Takeaways: Breton Technology has filed for a Hong Kong IPO, reporting strong growth for its business making and selling electric-powered loaders and dump trucks The company looks well positioned to benefit from China’s strong support for green technology makers By Doug Young

Budweiser's China Glass Drains As Consumers Have Less To Toast

Key Takeaways: Budweiser APAC’s profit fell 15% in the first nine months of the year as its revenue in China fell 16.1% in the third quarter The mainstream beer maker’s efforts to develop higher-end products may be meeting with headwinds from increasingly cautious Chinese consumer By Lau Chi Hang

Innovent Ditches Low-Value Stake Sale After Investor Outcry

Key Takeaways: Innovent said its intention was to demonstrate executives’ commitment to the overseas business, but the deal was dropped after a backlash over pricing

Cango Builds Up Global Capabilities In Search Of New Direction

Key Takeaways: Cango is aggressively building up a customer base and support services to export Chinese cars to the rest of the world, with 60,000 registered users for its AutoCango.com site

Huawei's HarmonyOS NEXT Faces Major Test With WeChat: Will It Pass?

Dogness Limps Ahead As Investors Chase Its Stock

Key Takeaways: Dogness’ revenue fell to $14.8 million in its fiscal year through June, as it reported a second consecutive annual loss The pet product maker’s stock has soared since February, including a more than sevenfold gain since it raised $5 million through a private placement in May By Doug Young

Huoli Rides China Travel Boom To Hong Kong IPO

Key Takeaways: Huoli has filed to list in Hong Kong, reporting its travel service revenue rose 22% and gross margin improved by 1.2 percentage points in the first half of 2024 The company is a distant third in China’s online travel market, behind industry leaders Trip.com and Tongcheng By Edith Terry

NEWS WRAP: Yum China Boosts Returns To Shareholders On Strong Quarterly Results

Newborn Town Reports Blowout Business, But Investors Fail To Move In

Key Takeaways: Newborn Town’s revenue grew between 60.7% and 62.7% to more than 3.2 billion yuan in the first nine months of this year The social media platform operator’s cumulative app downloads passed the 700 million mark during that time By Lau Chi Hang

Locked In Overheated Battle With Its Clone At Home, Luckin Eyes Expansion In U.S.

Key Takeaways: Luckin Coffee plans to expand to the U.S. and other markets following its first offshore move into Singapore, as competition remains stiff and demand weakens at home The budget coffee chain’s quarterly revenue exceeded 10 billion yuan for the first time in the three months to September, up 41% year-on-year

Gig-work Platform EPWK Tests Investment Crowds With Upsized IPO Plan

Key Takeaways: EPWK, which helps small and medium-sized companies find gig workers, has raised its IPO fundraising target by about a third from its original plan in February 2023 While demand for crowdsourcing platform services has recovered from a pandemic downturn, China’s slowing economy has eroded the company’s margins

Cotti Splashes Past 10,000-Store Milestone, Fueled By Relentless Price War

Key Takeaways: Despite reaching the 10,000-store milestone, Cotti’s obsession with beating Luckin through price wars could ultimately threaten its long-term sustainability International expansion could offer Cotti a better path forward than its low-price strategy in the saturated China market By Hugh Chen

Horizon Robotics Debuts Strongly, Fueled By Autonomous Driving Boom

Key Takeaways: Horizon Robotics raised HK$5.41 billion in its Hong Kong IPO, valuing the company at HK$53.4 billion The company’s revenue grew 152% in the first half of the year, and it expects its recently formed joint venture with Volkswagen to further drive growth By Doug Young

Everest Medicines Eyes mRNA Tumor Vaccines As Drug Valuations Rebound

Key Takeaways: Everest Medicines’ Nefecon achieved 167 million yuan in sales in just over a month after its launch, showing its future big potential Therapeutic vaccines have become the core of the company’s independent R&D, with Everest’s first personalized therapeutic mRNA tumor vaccine now in clinical trials

Drinda New Energy Powers Up IPO For Overseas Expansion

Key Takeaways: Drinda fell into the red in the first half of the year, hit by excess capacity in the sector The company wants to spend its IPO funds on ramping up overseas production and sale By Fai Pui

Jinko Sees Sunnier Skies In Germany With New Fundraising Plan

Key Takeaways: Shanghai-listed Jinko Solar Co. plans to raise more than $600 million through a GDR sale in Germany, using the funds to pay for expansions in China and the U.S. The company appears to be selling the global depositary receipts (GDRs) at a relatively large discount to their price in Shanghai By Doug Young