Bamboo Works Weekly: BeiGene heads for profit milestone after hemorrhaging cash
This week in Bamboo Works:
BeiGene Ltd. 688235.SH 6160.HK ONC.US
BeiGene heads for profit milestone after hemorrhaging cash
Lanvin Group LANV.US
Battered Lanvin hopes for better 2025 as executive revolving door keeps turning
ACM Research ACMR.US
ACM Research straddles growing U.S.-China microchip divide
Country Garden Holdings Co. Ltd. 2007.HK
Country Garden’s debt restructure hinges on stabilizing property market
Taiwan Semiconductor Manufacturing Co. Ltd. 2330.TW TSM.US
TSMC profits from AI development, no matter which way political winds blow
TCMTech Inc.
TCMTech fuses old with the new by mixing AI and Chinese medicine
Sunac China Holdings Ltd. 1918.HK
Property crisis deepens with debt action against Sunac
Waton Financial Ltd.
Waton plays up fintech transformation, though without much evidence
Jiangsu Lopal Tech Co. Ltd. 2465.HK 603906.SH
Lopal steers back towards profitability after tough two years
Zhengye Biotechnology Holding Ltd. ZYBT.US
Zhengye Biotech’s ‘pet-sized’ IPO leaves plenty of room for more fundraising
What’s Ahead for China Inc. Under Trump 2.0?
As Donald Trump returns to the White House, the landscape of US-China business and technological relations stands at a critical juncture. Having closely followed these developments, we see three key areas that deserve particular attention: Chinese tech companies’ presence in the U.S. market, export controls, and the future of Chinese IPOs in America.
BeiGene heads for profit milestone after hemorrhaging cash
Latest close: 222.08(-0.23%) ; 52-week range: 126.97-248.16
After bleeding red ink for years, one of China’s leading makers of next-generation cancer drugs may be approaching a financial turning point.
Armed with a blockbuster drug, BeiGene Ltd. (688235.SH; 6160.HK; ONC.US) has served notice that it expects its operating results to land in the black this year, when the company’s revenue is projected to exceed research and business costs.
Battered Lanvin hopes for better 2025 as executive revolving door keeps turning
Latest close: 2.26(-2.59%) ; 52-week range: 0.91-3.78
When Lanvin Group (LANV.US) announced leadership changes a week ago, shares of the New York-listed company shot up by more than 40% over the next three trading days, adding about $70 million to its market cap that climbed to $270 million.
The market seemed to applaud the news. The company said that Andy Lew, CEO of St. John Knits, one of its five portfolio brands, would take over a new role as group executive president, while Eric Chan would “transition” from his role as CEO to join the company’s board as a director.
ACM Research straddles growing U.S.-China microchip divide
Latest close: 18.60(+0.98%) ; 52-week range: 13.87-34.40
Straddling this growing divide are a number of companies with bases in the West and other Asian countries, but substantial operations in China, which are having to tread carefully to avoid getting squeezed in the rivalry.
One such lesser-known name, ACM Research (ACMR.US), appears to be riding the massive wave of Chinese investment, positioning itself uniquely as a U.S.-based company with extensive operations in China through its Shanghai unit.
Country Garden’s debt restructure hinges on stabilizing property market
The clock has been ticking down on debt-laden developer Country Garden Holdings Co. Ltd. (2007.HK) following the suspension of trading of its Hong Kong-listed shares last April after it failed to publish its 2023 financial statement on time. Its broader financial woes aside, the company’s stock could also be de-listed under Hong Kong Stock Exchange rules if it fails to resume trading within 18 months – or by October this year.
As it scrambles to regain compliance, the company, after considerable effort, finally published its annual results for 2023 and its interim report for the first half of last year.
TSMC profits from AI development, no matter which way political winds blow
Latest close: 221.88(-1.22%) ; 52-week range: 112.61-226.40
Two big questions were on the minds of many when Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) (2330.TW; TSM.US), the world’s largest contract chipmaker, released its latest quarterly results, followed by a briefing.
The first involved the AI that has turbocharged its business lately, and whether a boom for related products will continue. The second is whether the “T” for Taiwan in its name may start to lose relevance during a new administration of U.S. President Donald Trump that wants to see more manufacturing in America.
TCMTech fuses old with the new by mixing AI and Chinese medicine
Artificial Intelligence (AI) has broad applications in healthcare, with implications to transform the sector through its use in areas such as drug development, pathology, diagnosis and with AI-enabled doctors. But such cutting-edge tools seem nearly irrelevant when it comes to traditional Chinese medicine (TCM), with its thousands of years of history and an aversion to modern medical methods.
TCMTech Inc. is hoping to break that stereotype, detailing its use of AI tools to promote the industry in its IPO application to the Hong Kong Stock Exchange earlier this month.
Property crisis deepens with debt action against Sunac
Latest close: 1.50(0.67%) ; 52-week range: 0.87-5.51
The new year has sent fresh chills through China’s troubled property sector, with confidence shaken by a liquidation suit against a leading developer.
Earlier this month Sunac China Holdings Ltd. (1918.HK) announced it had been served with a wind-up petition from a state-owned asset management firm, China Cinda (1359.HK), over outstanding debts, with a Hong Kong court due to hear the case on March 19.
Waton plays up fintech transformation, though without much evidence
In this era of all things digital, the buzzword “fintech” certainly has a nice ring to it.
Online stockbroker Waton Financial Ltd. is banking on the charms of that association as it gears up for a New York IPO. But without much to show for its big fintech aspirations, the company’s ability to lure investors to its listing could be a big question mark.
Lopal steers back towards profitability after tough two years
Latest close: 4.68(+1.74%) ; 52-week range: 3.69-7.68
Will 2025 be the start of a new era for Jiangsu Lopal Tech Co. Ltd. (2465.HK; 603906.SH), with the potential to return to profitability?
That’s the big question for China’s leading maker of cathode materials for lithium iron phosphate batteries, and for the broader lithium battery supply chain that has suffered over the last two years as lithium prices plunged after soaring to record highs. Lopal’s business has been gradually improving over the last year, and its profit forecast for all 2024 seems to show continued improvement.
Zhengye Biotech’s ‘pet-sized’ IPO leaves plenty of room for more fundraising
Latest close: 4.27(-5.76%) ; 52-week range: 3.70-6.10
A week after the Jan. 7 trading debut, Zhengye Biotechnology Holding Ltd. (ZYBT.US) announced that its underwriter had fully exercised its option to purchase an additional 225,000 shares, adding $900,000 to the offering’s gross proceeds and indicating demand might be stronger-than-expected.
Still, the total proceeds seem quite small for a company worth just over $200 million, hinting a secondary share sale could be in the offing.