The Bamboo Works - Spark Newswire

5 minute read

Penny Stocks

Tongcheng Preparing to Stand on Its Own Without Trip.com and Tencent?

Today, 10:09 AM

Key Takeaways: A new stock exchange filing shows leading online travel agent Trip.com may have begun to sell down its longtime stake in Tongcheng, the industry’s second-largest player China’s online travel industry is riddled with anticompetitive cross-holdings, including Trip.com’s stakes in Tongcheng and Qunar

BABA

5 minute read

Junshi Biosciences Hits Revenue Roadblock Amid Covid Drug Delay

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: The company logged a revenue fall of 55% in the first half of the year and posted a loss of $131 million Phase 3 clinical trials for its Covid-19 oral drug wrapped up in May but the company has still not yet filed an application to market the product By Molly Wen

BGNE

5 minute read

With Only One Star in Its Sky, Era Jade Media Eyes Hong Kong IPO

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: Integrated marketing services provider Era Jade Media, famous for its self-produced finance programs, has filed for a Hong Kong IPO for a fourth time The company is extremely reliant on its CEO, who was behind 64.6% of the company’s revenue in the first half of this year By Tina Yip

5 minute read

All in the Family: Cash-strapped ZhongAn Taps Chairman’s Ties to Fund a Money-losing Unit

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: Sinolink will buy about 156 million new shares in ZhongAn’s overseas business development unit, ZhongAn International, for about $103 million The deal comes in a difficult year for ZhongAn, whose own cash holdings are dwindling By Warren Yang

BABA

5 minute read

No Early Relief for JW Therapeutics from Cancer Wonder Drug

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: JW Therapeutics prices its new cancer therapy at around a million yuan, with the high production costs hard to bring down. Large-scale market expansion is not going to be easy The company is undervalued compared with its peers pending further progress in commercializing its products By Molly Wen

LEGN

5 minute read

Small Cap

Shrinking Hello Group Targets Tantan Breakeven in 2023

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: Hello Group predicted its revenue will slide by at least 14.9% in the current quarter, extending a streak of declines dating back to early 2020 The company’s retrenchment strategy involves a turnaround at its loss-making Tantan, which aims to break even by 2023 by cutting costs and rolling out new functions

MOMO

5 minute read

Jianzhi Education Debuts Like Meme, But Then Gets Lesson in Gravity

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: Jianzhi Education’s big first-day jump, followed by gradual declines back to its IPO price, signal the recent parade of China meme stocks on Wall Street could be losing steam

AMC

5 minute read

Credit, Anyone? China’s Online Loan Platforms Get Stuck as Quality Borrowers Dwindle

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: FinVolution’s revenue growth slowed to about 12% in the second quarter from 16% and 32% in the previous two quarters, while its latest quarterly net profit fell about 6% 360 DigiTech and Lexin posted little or no revenue growth for the quarter, as their profits plunged 37% and 80%, respectively, during the period

FINV

5 minute read

KE Holdings Deconstructed by Slumping Real Estate Market

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: KE Holdings swung to the red in the first half of the year on the back of a slumping Chinese real estate market The company is trying to offset anemic property trading income with new businesses that are growing but still account for just a small share of revenue By Tina Yip

BEKE

5 minute read

ATRenew Sees Better Times Ahead in Evolving Role as ‘Recycler for All Seasons’

By The Bamboo Works

Today, 10:09 AM

Key Takeaways: ATRenew forecast 30% year-on-year revenue growth in the current quarter, as its business starts to rebound from a sharp slowdown caused by China’s strict Covid control measures

CVNA