Deals
This week saw a flurry of earnings reports as several major companies announced their latest financial updates.
Editor's take: The week that was—May 13-18
ShawKwei & Partners leans on secondaries amid a more favourable environment
Vertex Ventures launches $64m inaugural Japan-focused fund
Crypto lender Genesis to return $3b to customers in bankruptcy liquidation
Nvidia-backed CoreWeave raises $7.5b in debt deal led by Blackstone, others
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Singapore’s finance admin startup Osome raises $17m in Series B+ round
Indonesian investment firm Saratoga said to be exiting Antangin maker Deltomed
Haidilao restaurant operator Super Hi’s shares surge 38% in strong US market debut
Policy & Regulations
Xpeng co-President Brian Gu said he hopes the US can become more open, allowing global products to enter and compete in the market.
Ping An, which emerged as a major shareholder in HSBC in 2017, has had a tumultuous relationship with the lender in the recent past.
Earnings and Results
Deep price cuts helped the retailer boost sales that had been hit hard by cautious customer sentiment.
The company reported revenue of 31.51 billion yuan ($4.37 billion) for the three months ended March 31.
The Onvo L60 SUV sticker price starts from 219,900 yuan ($30,476), 12% below the price of Tesla’s Model Y.
Analysis
Doubao app has already exceeded 100 million downloads, with more than 26 million monthly users.
Earlier this month, Chinese electric vehicle maker Zeekr’s shares also debuted on the NYSE.
IPOs & Markets
Aiways is among a group of struggling Chinese EV startups that have suspended operations amid sluggish sales.
Private Equity
The number of people aged 60 and older in China could reach an estimated 402 million by 2040.