InnoCare Revs Up for Next Phase With Strong Results, IPO Plan
Key takeaways: 1、InnoCare Pharma’s revenue surged 142% in the first half of the year, but the company still lost money due to soaring R&D expenses and foreign exchange losses 2、The company will use 4 billion yuan from a Shanghai STAR Market IPO to boost production and accelerate its product commercialization Chinese drug stocks have cooled noticeably in the past year, as investors grow impatient for the dozens of listed startups to show progress in their march toward profitability. But InnoCare Pharma Ltd. (9969.HK) has bucked that trend, becoming an investor darling in its class. While sitting comfortably on 6.5 billion yuan ($950 million) in cash reserves, the company is set to raise another 4 billion yuan with a new IPO on Shanghai’s Nasdaq-style STAR Market. Its 202
WM Motor Joins China EV Race to Market With HK Listing Plan
Key takeaways: 1、 WM Motor has filed for a Hong Kong IPO to reportedly raise up to $1 billion, competing with a handful of similar listed Chinese EV startups 2、The company’s sales have surged in the past few years, but so have costs and competition as China aggressively promotes clean technologies Chinese electric vehicle (EV) maker WM Motor Holdings Ltd. is charging ahead into the financial market with a newly filed plan to raise up to $1 billion through a Hong Kong IPO. But the company may find Hong Kong a crowded space to park its new listing, as it would become the fifth Chinese EV maker to go public in the city. Perhaps WM Motor, whose German-sounding Weltmeister name means “world champion,” realized Hong Kong was becoming crowded as well. Founded in 2015, it
Image Source: WM Motor BEIJING, April 20 (TMTPOST) — A WM Motor EX5 caught fire several minutes after charging was completed, which was the third car fire incident for the company this year, Jiemian reported. The fire started from the chassis of the vehicle parking in a charging station in Haikou, the capital of China's southernmost province Hainan. The car had been disconnected from the charging pole before the fire started. The driver was not in the car and no one was injured, according to Jieman. There were sounds of tire explosions when the vehicle was on fire. The closest vehicle - a taxi that being charged at the time of the fire - swiftly left the charging station. WM Motor has not commented on the matter. The charging station where the incident occurred has resumed operation. WM Mo