CStone Pharma Replaces Chairman Amid Huge Losses, Irregular Investment
Key Takeaways:
CStone brought four products to market last year, and its losses have surged due to growing R&D and sales spending
Appointment of chairman with close ties to WuXi AppTec reveals a power struggle between shareholders and management
By Molly Wen
Burning Rock Localizes as Investors Grow Impatient
Key Takeaways:
Burning Rock’s revenue grew 27% in the first quarter, but its costs grew even faster as it focused on building up new revenue sources
Company’s older centralized testing services contracted in the quarter due to Covid disruptions, but its newer localized service with partner hospitals posted strong growth
Vending Machine Leader Ubox Spits Out Big Losses During Pandemic
Key takeaways:
Ubox has filed for a Hong Kong IPO despite reporting losses in the past two years due to pandemic-related disruptions to its core vending machine business
The company’s backers include Alibaba’s Ant Financial, which led a 1.6 billion yuan investment in the company in 2019
EHang’s Order Book Takes Flight as Cash Pile Glides to Earth
Key Takeaways:
EHang has announced a major new deal to sell 100 of its autonomous air vehicles to an Indonesian buyer, doubling its order book for this year
Company is slashing expenses as its cash fell to 237 million yuan at the end of March from 480 million yuan a year earlier
By Doug Young
Investors See Better Road Ahead for Autohome Despite Profits Setback
Key Takeaways:
Autohome’s adjusted net income tumbled 40% during the first quarter, less than the 50% drop expected by the market. Relieved investors sent the share price soaring 19% over three trading days
‘Chinese WeWork’ UCommune Reports Huge Losses, Sees Dark Days Ahead
Key Takeaways:
UCommune breaks new net-loss record in 2021 and has burned through 4 billion yuan in the past four years
Huge losses indicate the company still has a long way to go in terms of asset-light transition
By Wang Chuan
In Search of Profits, Q&A Site Zhihu Finds New Answer in Vocational Education
Key Takeaways:
Zhihu’s revenue grew 55.4% in the first quarter, but its adjusted net loss grew by an even bigger 89.8%
Company’s vocational education services could be a major new growth engine, as China encourages private sector investment in the area
By Christina Meng
ATRenew Starts the Year Off Strong, Braces for Covid Impact
Key Takeaways:
ATRenew‘s revenue rose 45.7% in the first quarter to 2.2 billion yuan as both product and service revenues recorded strong gains
Company could benefit over the longer term from the rollout of China’s first guidelines for used electronics refurbishment by the city of Shenzhen in April