Category: Uncategorized
「What’s News in China」
BeiGene (NASDAQ: BGNE; HKEX: 06160), announced on Nov 14 that BRUKINSA™ (zanubrutinib) has received accelerated approval from the US FDA as a treatment for mantle cell lymphoma (MCL) in adult patients who have received at least one prior therapy. This is the first time that the FDA approved a drug based on efficacy data that is predominantly from China. // reuters | BeiGene
Trip.com (NASDAQ: TCOM), formerly Ctrip.com (Nasdaq: CTRP) and TripAdvisor (Nasdaq: TRIP) announced a strategic partnership on Nov 6 to expand global cooperation, including a joint venture, global content agreements and a governance agreement. TripAdvisor will own 40% of the joint venture. Trip.com shall acquire up to 6.95 million TripAdvisor shares or TripAdvisor shares valued at USD317.6 million through open market transactions within one year following regulatory approvals. Trip.com will have a nomination right for one TripAdvisor board seat commencing upon the relevant regulatory bodies’ approvals of the transaction. // TripAdvisor
Luckin Coffee (NASDAQ: LK), a coffee chain founded in 2017 in China and operating only 9 stores that year, grew to 3,680 stores at the end of 2019 Q3, with quarterly revenue expanding more than 6-fold to RMB1,493.2 million from RMB227.1 million a year ago. Also mentioned in the earnings release, Luckin “strategically launched Luckin Tea as an independent brand and developed our new retail partnership model, .. engaged in ongoing discussions with potential strategic partners to set up joint ventures in markets outside of China.” // Luckin Coffee
「News of the Week」Walmart Continues To Grow
If we need one figure this week to tell how the US economy is going – then the Walmart US store comparable sales is the one: 3.2% yoy.
WSJ – Walmart’s Sales Growth Streak Hits Five Years
Dots to connect: inflation, Walmart’s online sales growth, international sales growth, tariff impacts, etc.
「Video of the Week」STAT: An Introduction to CBD
Following up on the update for cannabis public companies, here is a video for the weed-adjacent dietary supplement known as cannabidiol, or CBD.
「What’s News In China」
Shanghai Green Valley Pharmaceuticals (Green Valley, 绿谷制药) today announced on Nov 2 that China’s National Medical Products Administration (NMPA) has approved Oligomannate (GV-971) as new drug for the treatment of “mild to moderate Alzheimer’s disease (AD) and improving cognitive function.” It is the first novel drug approved for Alzheimer’s disease globally since 2003. The company is also planning a global phase 3 trial with sites in the U.S., Europe and other parts of Asia in early 2020 to support regulatory filings around the world. // prnewswire | fiercepharma
On Nov 5, Nio (NASDAQ: NIO), long being seen as the Tesla in China, announced its partnership with Intel’s Mobileye to build self-driving EVs. Under the planned collaboration, Mobileye will provide NIO with the design of the self-driving system building on the Mobileye AV Series, a L4 AV kit comprised of the Mobileye EyeQ® system-on-chip, hardware, driving policy, safety software and mapping solution. NIO will take on the automotive-grade engineering, integration and mass-production of Mobileye’s system for both consumer automotive markets and for Mobileye’s mobility-as-a-service (MaaS) applications. In addition to integrating the self-driving system into its vehicle lines, NIO will develop a specially configured variant of electric AVs that Mobileye will use as robotaxis, deployed for ride-hailing services in global markets. // TechCrunch| intel
36Kr (NASDAQ: KRKR), a Beijing-based news and data provider, known for tracking fundraising and tech related news in China, raised $20 million in its Friday debut on NASDAQ. The company is similar to TechCrunch or Crunchbase (its affiliated Crunchbase News). // Crunchbase News
「News of the Week」Singles Day Record
On this annual shopping festival, we could see how Chinese consumers are growing their spending.
Alibaba’s Tmall reached 10 billion yuan in less than two minutes (00:01:36)
With updated info: Alibaba singles day sales GMV stood at 268.4 billion yuan (~$38 billion), growing 26% from last year.
Dots to connect: competitions from JD and Pinduoduo?, growth okay, houses being sold on platforms, live steaming as a new type of sales & marketing but costs?
「Video of the Week」LVMH’s Acquisition Attempt for Hermes
It is an interesting story to watch as LVMH became the second-most valuable company in Europe
「What’s News In China」
Tencent will lead the development of blockchain-based invoice system in China. The invoices will be created as part of the project named “General Framework of DLT-Based Invoices,” which was approved and supported by countries such as the UK, Switzerland, Sweden and Brazil during an ITU-T international meeting on e-invoice standards. As of August 10, more than 6 million blockchain e-invoices have been issued, and more than 5,300 companies have been registered in China to use blockchain e-invoices since the first…was issued by Tencent on August 10, 2018. // globaltimes | TNW
China has banned online sales of e-cigarettes on Nov 1. All websites and apps selling e-cigarettes should be shut down and all online marketing campaigns halted; online shopping platforms need to remove e-cigarette products from their sites. The measures are aimed at protecting adolescents from vaping. // 烟草专卖局 | Bloomberg
Biotechnology company Amgen (NASDAQ: AMGN) announced on Oct 31 that it is taking a 20.5% stake in BeiGene (NASDAQ: BGNE), one of the largest biotech companies in China for $2.7 billion. The all-cash deal values BeiGene at $174.85 per American depository share, a 25% premium to BeiGene’s closing price on the Nasdaq on Wednesday. BeiGene’s stock jumped 37% the next day. // Amgen
「News of the Week」Apple Launched TV+
Service | Monthly Cost | Launch date | Shows |
---|---|---|---|
NETFLIX | $12.99 | Running | The Crown, Stranger Things |
HULU | $5.99 (with ads); $11.99 (ad-free) |
Running | ER, The Handmaid’s Tale |
AMAZON PRIME VIDEO | $8.99 | Running | Marvelous Mrs. Maisel, Fleabag |
APPLE TV+ | $4.99 | Nov. 1 | The Morning Show, For All Mankind |
DISNEY+ | $6.99 | Nov. 12 | The Simpsons, The Mandalorian |
HBO MAX | $14.99 | May 2020 | Friends, The Flight Attendant |
PEACOCK | TBD | Spring | Battlestar Galactica, Rutherford Falls |
「Video of the Week」Virgin Galactic
With a reverse merger, Richard Branson’s Virgin Galactic Holdings on Monday became the first space-tourism business to go public as its stock began trading on the New York Stock Exchange.
Video of its SpaceShipTwo making it to space for the first time.
And a video for Virgin Galactic and Spaceport America in New Mexico.