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The Latest Breaking News from Doug Young

TuSimple Looks to Decouple From China. Others to Follow?

Key Takeaways: Autonomous truck company TuSimple is reportedly looking to spin off its China business, leaving its more advanced U.S. business as its main asset Such a spinoff could provide upside for company’s stock by significantly reducing U.S. national security concerns By Doug Young

Cango Shifts Gears Into Macro Headwinds, With Eye on NEVs and Car Services

Cango Shifts Gears Into Macro Headwinds, With Eye on NEVs and Car Services

Key Takeaways: Cango reported its fourth-quarter revenue rose sequentially but was down slightly from a year ago, as its newer car-trading services took up a larger portion of the total Company faces a number of macroeconomic headwinds, including pandemic restrictions and a chip shortage that has dampened new car sales…

Spurned by New York, Kingsoft Cloud Looks for Love in Hong Kong

Spurned by New York, Kingsoft Cloud Looks for Love in Hong Kong

Key Takeaways: Kingsoft Cloud is studying a possible dual listing in Hong Kong to complement its current listing on the Nasdaq Company made the announcement after the U.S. securities regulator reminded U.S.-listed Chinese firms they could face forcible delistings under a law passed in December 2020 By Doug Young

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TuSimple Paves The Way For Its Truck Technology Commercialization

Key Takeaways: TuSimple announced that co-founder and CTO Hou Xiaodi will take over as the company’s chairman and CEO Company’s shares lost two-thirds of their value in the two days after the announcement, closing at a post-IPO low By Doug Young

JD.com Pays Big Premium For Majority Control of Dada Nexus

Key Takeaways: JD.com will take majority control of Dada Nexus for a big premium, completing a deal the two first announced a year ago Deal may have been delayed by Beijing regulators, who are wary of the growing influence of China’s biggest technology companies By Doug Young

GDS Raises Funds for Accelerating Expansion, But Investors Unimpressed

Key Takeaways: GDS is raising $620 million through the issue of seven-year convertible notes with a conversion price just 16% above the stock’s latest close Funds are being used to pay for an accelerated buildup of new data centers, including a new regional hub taking shape around Singapore By Doug…

Capvision Tempts Investors With Fast Growth, Fat Margins In Hong Kong IPO

Key Takeaways: ‘Expert network’ operator Capvision Partners has filed for a Hong Kong listing to raise up to $300 million The company boasts fast revenue growth and impressive profit margins, but also faces regulatory risk that was the focus of a U.S. crackdown a decade ago By Doug Young

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Dingdong Slows Down Spending, Dangles Prospect Of Profits

Dingdong Slows Down Spending, Dangles Prospect Of Profits

Key Takeaways: Dingdong’s revenue growth slowed to 72% in the fourth quarter, down from 111% and 78% in the third and second quarters, respectively Leading online grocer also reined in its spending, helping pare its quarterly net loss by 12% as it talked of profitability ‘soon’. By Doug Young

GCL-Poly Eyes More Debt Reduction With Potential STAR Market Listing

GCL-Poly Eyes More Debt Reduction With Potential STAR Market Listing

Key Takeaways: GCL-Poly says it is studying the possibility of a secondary listing on the Chinese mainland Such a listing would most likely occur on the Nasdaq-style STAR Market, which has rewarded such secondary listings with high valuations By Doug Young

Yi Po International Could Become First China Tech IPO In U.S. Since Didi Debacle

Yi Po International Could Become First China Tech IPO In U.S. Since Didi Debacle

Key Takeaways: Yi Po International has filed to make a modest IPO in New York, which could become the first tech offering by a Chinese firm in more than half a year The operator of smart parking systems looks well positioned to capitalize on China’s massive car market and acute…

Huadi's Year of the Tiger Starts with a Roar, But Destined to End on a Whimper?

Huadi's Year of the Tiger Starts with a Roar, But Destined to End on a Whimper?

Key Takeaways: Huadi International reported its revenue rose 18% in its latest fiscal year, but its profit dropped 24% on high shipping and IPO-related costs Company’s shares were largely unchanged after results announcement, but have rallied sharply since last October on what looks like speculative trading By Doug Young

Daqo Taps Richly-Valued China-Listed Unit to Raise $1.7 Billion For Expansion

Daqo Taps Richly-Valued China-Listed Unit to Raise $1.7 Billion For Expansion

Key takeaways: Daqo New Energy will tap its China-listed subsidiary to raise funds for construction of a major new production facility in Inner Mongolia Daqo’s holdings in the China-listed unit, Xinjiang Daqo, are worth more than four times its own latest market value By Doug Young

Full Truck Alliance Travels Bumpy Road Through Pandemic, Regulatory Wave

Full Truck Alliance Travels Bumpy Road Through Pandemic, Regulatory Wave

Key takeaways: Full Truck Alliance said its fourth quarter fulfilled orders rose 41.6%, slowing from 78.4% growth in the previous quarter Growth comes as other major companies report business contractions in China due to Covid-control disruptions By Doug Young

New Beijing Signals Reinforce China's Intent to Reopen U.S. IPO Pipeline

New Beijing Signals Reinforce China's Intent to Reopen U.S. IPO Pipeline

Key Takeaways: China Securities Regulatory Commission Chairman Yi Huiman says his agency is aiming to quickly implement new rules government overseas listings by Chinese firms New U.S. IPO application by cold rolled steel maker Hongli continues nascent resumption of Chinese listings in New York By Doug Young

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