Articles written by Bamboo Works - Benzinga

Imax China Roars Into Year Of The Snake After Weak Performance In 2024

Animated blockbuster "Ne Zha 2," brings much-needed boost to IMAX China, after a gloomy 2024.

As Covid Drug Cash Dwindles, Vigonvita Targets New Remedies

A Chinese biotech that became popular by co-developing an anti-Covid drug has filed for a Hong Kong stock market listing.

CATL To Recharge Its Offshore Output With New Shares

The world's leading maker of electric car batteries has filed for a secondary listing in Hong Kong, aiming to boost its production capacity outside China

Fenbi Chalks Up Loss As Edtech Scrambles Into AI

iMotion Automotive rides DeepSeek fever to new fundraising

Key Takeaways: iMotion Automotive raised HK$228 million through new share placement, three months after raising a smaller HK$73 million Last month the company entered a strategic tie-up with Horizon Robotics aimed at speeding up sales of its intelligent driving solutions into mass-produced vehicles

Black Sesame emerges as dark horse in driving technology race

Key Takeaways: Black Sesame’s revenue rose about 52% last year, though the growth rate slowed from the first half to the second half The company’s gross margin improved notably in the first half of last year as its products were included in two mass-produced vehicles By Doug Young

Eternal Beauty Struts Its Stuff As Hong Kong's Newest IPO Contestant

Key Takeaways: Eternal Beauty has filed for a Hong Kong IPO, reporting its profit rose 20% year-on-year in the first half of its current financial year The perfume seller plans to use funds from the listing to further expand its self-owned brands

JD.com Seeks Place At China's Massive Takeout Dining Table

Key Takeaways: JD.com has signaled it’s preparing to enter China’s massive takeout dining market, most likely using its Dada Nexus local delivery service as a foundation

Nissin Warns Of Steep Profit Slide But Sees Solid Core Business

Key Takeaways: Nissin Foods projected that profits for 2024 would fall between 38% and 41% But other figures show that underlying revenue from China grew nearly 10% in the first nine months of last year By Lee Shih Ta

Huawei Rings Up Improbable Comeback As Revenue Soars

Key Takeaways: Huawei reported its second-highest annual revenue in 2024, driven by strong sales for its smartphone and smart vehicle businesses The company’s HarmonyOS will be key to its overseas smartphone expansion, filling a void after Huawei was forced to abandon Google’s Android under U.S.

Shein Loses Its Shine On Bumpy Path To London Listing

Key Takeaways: Shein’s reported plan to list in London as soon as April could face a new hurdle after British regulators grilled the company about its cotton sourcing Controversy about its business practices and rivalry with PDD’s Temu may force the fast fashion sensation to eventually consider listing in Hong Kong

Weak sentiment may leave Auntea Jenny thirsty for better valuation

Key Takeaways: Auntea Jenny has revived its Hong Kong listing plan, reporting its profit fell 12% in the first half of last year while its revenue rose just 6.4% The bubble tea chain operator had nearly 8,500 stores in its network at the middle of last year By Cheng Shui Tong

Hesai Zooms Ahead In Third Quarter, Setting Stage For Milestone Year

Key Takeaways: Hesai’s third quarter revenue rose 21.1% year-on-year to 540 million yuan ($76.9 million), surpassing the top end of its earlier guidance. The company could generate $100 million in fourth-quarter revenue and achieve non-GAAP profitability for 2024, hoping it can become the first profitable automotive LiDAR firm

Lenovo's AI seeds Begin Bearing Fruit, As Geopolitics Continue To Weigh

Key Takeaways: Global PC leader Lenovo’s profit jumped 41% in the six months through September, as its revenue rose 22% Revenue from the company’s non-PC segments accounted for 46% of its total in the first half of its fiscal year, an all-time high By Lee Shih Ta

Starbucks Looks For New Friends In Choppy China Coffee Waters

Trade-in 'Chic' Helps Boost ATRenew To First Operating Profit

Key Takeaways: ATRenew’s revenue rose 24.4% in the third quarter, and it predicted similar growth in the fourth quarter following strong results from its ‘Double 11’ promotions with JD.com

NaaS Drives Into Third Quarter With First-Ever Quarterly Non-IFRS Profit

Key Takeaways: NaaS Technology reported its first non-IFRS quarterly profit in the three months to September, as well as a record-high gross margin As China’s leading provider of services to EV charging station operators, NaaS has wound down its low margin offline business to focus on higher-margin platform-based management services

Tam Jai Results Leave Sour Taste Of Dining Downturn

Key Takeaways: The company’s net profit more than halved in the first half of the year, squeezed by price competition and weak consumer confidence The dining chain is planning to scale back its network in mainland China and Singapore By Lau Chi Hang

CiDi Sets IPO Course With Its Self-Driving Trucks

Key Takeaways: The company’s revenues surged 472% to 260 million yuan in the first half of this year Income from autonomous driving products rocketed to 60% of overall revenue in the half-year period By Lee Shih Ta

Rebounding RLX Plots Course Beyond China

Key Takeaways: RLX’s third quarter revenue rose 52%, as its gross margin rose more than 3 percentage points to 27.2% following a regulatory crackdown in 2021 A year after expanding beyond its China base, international business accounted for more than half of the vaping company’s revenues in the third quarter