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The Latest Breaking News from Doug Young

Northrop Grumman to debut new B-21 bomber as aerospace employment rebounds

After years of design work, competition and secrecy, the U.S. Air Force's new B-21 bomber will finally be unveiled to the public.

Los Angeles Times

New Oriental Emerges from Carnage of Education Cleanup

Key Takeaways: New Oriental Education returned to profitability in its latest reporting quarter, as its revenue declines continued to ease The company’s new business mix after China banned K-12 tutoring in core curriculum areas includes non-academic tutoring and study abroad services By Doug Young

Benzinga

Domino's China Operator Makes Second Toss at Hong Kong IPO

Key Takeaways: DPC Dash, operator of the Domino’s pizza chain in China, has filed an updated prospectus to list its shares in Hong Kong The company differs from larger rival Pizza Hut in China due to its bigger focus on delivery, and also due to its earlier stage of development…

Benzinga

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Rising Lithium Prices Lift Ganfeng and Tianqi – But Not Equally

Key Takeaways: Tianqi and Ganfeng have issued major upside profit alerts, both boosted by surging prices for lithium that is their core product Despite the big profit gains, investors are more bullish on Tianqi as the company bounces back from a debt crisis two years ago By Doug Young

Benzinga

Shareholders Teach 'Sauerkraut Fish' King a Lesson in Fishy Investments

By Doug Young A funny thing happened on the way to construction of one of China’s newest mega-commercial complexes, the Guangzhou IFC Mall in the southern mega-city of Guangzhou.

Benzinga

Cloopen: A Clean Cloud, or Still Under Stormy Skies?

Key Takeaways: An internal investigation by cloud services provider Cloopen found the company inflated its revenue by about 5% in last year’s second and third quarters The new China-U.S. information-sharing agreement could help restore investor confidence in such U.S.-listed Chinese companies By Doug Young

Benzinga

Miniso Gets Dressing Down in Online Brouhaha

Key Takeaways: Miniso’s shares are down 17% since it was accused of mislabeling a Chinese-clothed doll as Japanese, and more broadly of trying to hide its Chinese roots The attack represents a relatively unique risk faced by both foreign and domestic companies doing business in China By Doug Young

Benzinga

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RLX Burns Down, But Not Out, With New Licensing Announcement

Key Takeaways: RLX has received a new manufacturing license as required under a new regulation announced earlier this year The license permits the company to produce rechargeable vaping devices at levels about 30% lower than its sales last year By Doug Young

Benzinga

Bad Cryptocurrency Investments Take Shine Off Meitu

Key Takeaways: Beauty software maker Meitu said its $100 million bet on Bitcoin and Ether cryptocurrencies last year has lost nearly half its value Despite the losses, company says it remains “positive on the long-term prospects of the acquired cryptocurrencies” By Doug Young

Benzinga

Online Brokers UP Fintech, Futu Stumble on Weak Stock Markets

Key Takeaways: UP Fintech and Futu reported sharp first-quarter revenue declines as weak stock markets caused trading commissions to slide Futu reined in spending during the period, while UP Fintech’s spending rose on aggressive hiring for its global expansion By Doug Young

Benzinga

Desjardins Cuts Canadian Western Bank Price Target By ~14%

Desjardins analyst Doug Young lowered

Benzinga

Vipshop Takes Defensive Posture As Headwinds Mount

Key Takeaways: Vipshop’s revenue fell 11% in the first quarter, and it forecast the decline would accelerate to as much as 25% in the current quarter Company last month authorized a new $1 billion share repurchase program after buying back $500 million of shares over the previous year By Doug…

Benzinga

New China Accounting Scandal Flies Under the Radar. And Where There's Smoke …

By Doug Young

Benzinga

Stodgy Tax Services IPO Looks Like What U.S. Investors Want from China Now

Key Takeaways: Lichen China has filed for an IPO to raise about $25 million, positioning itself as a potential consolidator in China’s vast, but highly fragmented, tax services market Company points out it should be able to avoid many of the recent controversies now dogging U.S.-listed Chinese stocks By Doug…

Benzinga

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Benzinga

JinkoSolar Stumbles on Covid Challenges, But Longer-Term Future Remains Bright

Key Takeaways: JinkoSolar blamed Covid disruptions for a 10% sequential decline in its first-quarter revenue, but added such challenges should be ‘short-term and manageable’ Company forecast it will sell 35 GW to 40 GW of capacity this year, implying it is taking market share from rivals By Doug Young

Benzinga

Chindata Potentially Up for Sale as M&A Heats Up in China Data Centers

Key Takeaways: Data center operators GDS and EdgeConneX have reportedly expressed interest in making bids for Chindata Chindata’s control by U.S. private equity giant Bain and the recent departure of its founder may make it ripe for such a buyout By Doug Young

Benzinga

Profits Sprout Anew at Evergreen, as Wig Maker Eyes Virtual Hair

Key Takeaways: Wig maker Evergreen Products returned to profitability last year on strong sales growth due to prolonged hair salon closures Company’s 2021 sales were more than 50% higher than pre-pandemic levels, but its stock is relatively undervalued compared to peers By Doug Young

Benzinga

Me-ow! Pet Community Operator Boqii Faces Delisting Due to Shriveling Valuation

Key Takeaways: Boqii could face delisting from the NYSE after its market valuation fell out of compliance with NYSE rules Company could delist through a management-led buyout and is likely to disappear from the NYSE main board within the next year By Doug Young Call it the incredible shrinking pet.

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Benzinga

Goldwind Diversifies with $3 Billion Deep-Sea Wind Power Investment

Key Takeaways: Xinjiang Goldwind has announced a new tie-up worth nearly $3 billion with the city of Wenzhou involving deep-sea wind power Move will allow the company to develop technology in a major new emerging area, and also help it diversify geographically beyond its controversial home base By Doug Young

Benzinga

VNET Finally Gets Some Respect from Unsolicited Suitor

Key Takeaways: VNET has received an unsolicited buyout offer that is 50% higher than its previous stock price, sparking a 30% surge in its shares Company is the relative laggard among China’s three major independent data center operators despite its status as the oldest of the group By Doug Young

Benzinga

Cancer Drug Maker BeiGene Takes Action to Mitigate Delisting Risk

Key Takeaways: BeiGene has switched auditors for its New York listing to a U.S. company from a Chinese one in a move to comply with U.S. law The change could reduce the company’s threat of being forcibly delisted from the Nasdaq By Doug Young

Benzinga

Dingdong, Missfresh Surge on Booming Business During Covid Lockdowns

Key Takeaways: Investors may be growing more bullish on Dingdong and Missfresh as recent Covid-related lockdowns drive more consumers to buy groceries online Both companies trade at relatively low valuations, even after big stock gains this week, as analysts remain bullish on the pair By Doug Young

Benzinga

Meitu's B2B Makeover Gains Momentum. First Profits in Sight?

Key Takeaways: Meitu reported its revenue grew 40% last year, driven by 147% growth for its services targeting business customers like photo studios and cosmetics stores Company’s advertising revenue, which accounts for nearly half of its total, grew by just 12% as clients reined in their spending By Doug Young

Benzinga

Domino's China Operator DPC Dash Delivers Hong Kong IPO

Key takeaways: Domino’s China operator DPC Dash has filed for a Hong Kong IPO that could raise up to $100 million and value the company at around $500 million Company has cashed in on China’s recent shift to takeout dining, posting 18.7% same-store sales growth last year By Doug Young

Benzinga

Weimob Invests For The Future, As Investors Grow Impatient For Profits

Key Takeaways: Weimob reported a $566 million yuan adjusted loss for 2021, reversing a profit from the previous year, as it spent heavily on new initiatives Big-name investors sold down their stakes in the company in the second half of last year, but are showing early signs of returning By…

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