AI Chipmaker Biren Technology Clears Listing Hearing; Interim Losses Increase to RMB1.6 Billion
Biren Technology's IPO Plans: Biren Technology, a major Chinese GPU and AI chip developer, has passed the Hong Kong Stock Exchange's listing hearing and plans to initiate its IPO process soon, aiming to raise over US$300 million with a potential listing in January 2026.
Financial Performance: For the interim period ending June 2025, Biren Technology reported a revenue of approximately RMB58.903 million, a 49.9% year-over-year increase, but also faced a significant loss exceeding RMB1.6 billion, which widened by over 80% compared to the previous year.
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HK High Court Rules to Dismiss COUNTRY GARDEN's Winding-Up Petition
Winding-up Petition Filed: In 2024, a subsidiary of KINGBOARD HLDG filed a winding-up petition against COUNTRY GARDEN.
Court Hearing Outcome: The High Court dismissed the petition during a hearing on the 16th, as COUNTRY GARDEN did not send a lawyer to represent them.
HSI Drops 242 Points at Midday, Driven by Technology Stocks; CN Developers and WUXI Series Surge
Market Performance: Hong Kong stocks faced a decline, with the HSI dropping 242 points (0.9%) to 27,023, while the HSCEI and HSTECH also fell by nearly 1% and 1.7%, respectively.
Tech Stocks Struggles: Major tech companies like NTES, BABA, and TENCENT saw significant drops in their share prices, with NTES down 3.8% and BABA down 2.1%, amid disappointing earnings reports and ongoing investment strategies.
Chinese Developers' Gains: Some Chinese developers, including CHINA VANKE and RONSHINECHINA, experienced gains due to reports of a potential RMB80 billion rescue package from the Shenzhen municipal government.
WUXI APPTEC's Success: WUXI APPTEC emerged as the best-performing blue chip, rising nearly 4% after Nomura raised its revenue expectations and target price, indicating strong future performance.
SSE Criticizes COUNTRY GARDEN Executives, Including Yang Huiyan, for Delayed Disclosure of Overdue Debts
Disciplinary Action: COUNTRY GARDEN's executives, including Chairman Yang Huiyan and Co-Chairman Mo Bin, received disciplinary action from the Shanghai Stock Exchange for failing to disclose overdue debts in a timely manner.
Self-Regulatory Measures: The Shanghai Stock Exchange imposed self-regulatory measures on COUNTRY GARDEN and its executives, which included a circulated criticism and a record in the integrity file database.
COUNTRY GARDEN Reports Approximately 170,000 Home Deliveries Last Year, Targets Positive Operating Cash Flow for This Year
Company Performance: COUNTRY GARDEN announced the delivery of nearly 170,000 homes in 2025, contributing to a total of approximately 1.15 million homes delivered from 2023 to 2025.
Future Goals: Chairman Yang Huiyan stated the company aims to complete most home deliveries by mid-2026, focusing on improving its balance sheet and achieving positive cash flow and profits.
Country Garden's January Contracted Sales Experience a Minor Year-on-Year Decline of Approximately 2% to RMB 2.21 Billion
Stock Performance: COUNTRY GARDEN's stock increased by 1.818%, with a short selling amount of $20.98 million and a ratio of 16.500%.
Sales Report: The company reported contracted sales of approximately RMB2.21 billion in January 2026, reflecting a 2.21% decrease year-over-year, with a total contracted sales GFA of about 280,000 square meters.
SUNAC/CHINA AOYUAN Shares Surge 22%/16% as Chinese Developers Allegedly Exempt from Monthly 'Three Red Lines' Reporting
Chinese Property Developers Surge: Several HK-listed Chinese property developers, including SUNAC and COUNTRY GARDEN, experienced significant stock price increases, with SUNAC rising by 23.3% and COUNTRY GARDEN by 18.2%.
Trading Volume and Short Selling: The trading volume was substantial, with billions of shares exchanged and notable short selling activity, particularly in COUNTRY GARDEN and CHINA VANKE.
Regulatory Changes: Reports indicate that Chinese property developers are no longer required to report the "Three Red Lines" metrics monthly, although some distressed companies must still report financial indicators to local task forces.
Blue-Chip Stocks Performance: Among blue-chip stocks, CHINA OVERSEAS and LONGFOR GROUP also saw positive movements, with increases of 3.99% and 4.15%, respectively, amidst significant short selling.
HK High Court Rules to Dismiss COUNTRY GARDEN's Winding-Up Petition
Winding-up Petition Filed: In 2024, a subsidiary of KINGBOARD HLDG filed a winding-up petition against COUNTRY GARDEN.
Court Hearing Outcome: The High Court dismissed the petition during a hearing on the 16th, as COUNTRY GARDEN did not send a lawyer to represent them.
HSI Drops 242 Points at Midday, Driven by Technology Stocks; CN Developers and WUXI Series Surge
Market Performance: Hong Kong stocks faced a decline, with the HSI dropping 242 points (0.9%) to 27,023, while the HSCEI and HSTECH also fell by nearly 1% and 1.7%, respectively.
Tech Stocks Struggles: Major tech companies like NTES, BABA, and TENCENT saw significant drops in their share prices, with NTES down 3.8% and BABA down 2.1%, amid disappointing earnings reports and ongoing investment strategies.
Chinese Developers' Gains: Some Chinese developers, including CHINA VANKE and RONSHINECHINA, experienced gains due to reports of a potential RMB80 billion rescue package from the Shenzhen municipal government.
WUXI APPTEC's Success: WUXI APPTEC emerged as the best-performing blue chip, rising nearly 4% after Nomura raised its revenue expectations and target price, indicating strong future performance.
SSE Criticizes COUNTRY GARDEN Executives, Including Yang Huiyan, for Delayed Disclosure of Overdue Debts
Disciplinary Action: COUNTRY GARDEN's executives, including Chairman Yang Huiyan and Co-Chairman Mo Bin, received disciplinary action from the Shanghai Stock Exchange for failing to disclose overdue debts in a timely manner.
Self-Regulatory Measures: The Shanghai Stock Exchange imposed self-regulatory measures on COUNTRY GARDEN and its executives, which included a circulated criticism and a record in the integrity file database.
COUNTRY GARDEN Reports Approximately 170,000 Home Deliveries Last Year, Targets Positive Operating Cash Flow for This Year
Company Performance: COUNTRY GARDEN announced the delivery of nearly 170,000 homes in 2025, contributing to a total of approximately 1.15 million homes delivered from 2023 to 2025.
Future Goals: Chairman Yang Huiyan stated the company aims to complete most home deliveries by mid-2026, focusing on improving its balance sheet and achieving positive cash flow and profits.
Country Garden's January Contracted Sales Experience a Minor Year-on-Year Decline of Approximately 2% to RMB 2.21 Billion
Stock Performance: COUNTRY GARDEN's stock increased by 1.818%, with a short selling amount of $20.98 million and a ratio of 16.500%.
Sales Report: The company reported contracted sales of approximately RMB2.21 billion in January 2026, reflecting a 2.21% decrease year-over-year, with a total contracted sales GFA of about 280,000 square meters.
SUNAC/CHINA AOYUAN Shares Surge 22%/16% as Chinese Developers Allegedly Exempt from Monthly 'Three Red Lines' Reporting
Chinese Property Developers Surge: Several HK-listed Chinese property developers, including SUNAC and COUNTRY GARDEN, experienced significant stock price increases, with SUNAC rising by 23.3% and COUNTRY GARDEN by 18.2%.
Trading Volume and Short Selling: The trading volume was substantial, with billions of shares exchanged and notable short selling activity, particularly in COUNTRY GARDEN and CHINA VANKE.
Regulatory Changes: Reports indicate that Chinese property developers are no longer required to report the "Three Red Lines" metrics monthly, although some distressed companies must still report financial indicators to local task forces.
Blue-Chip Stocks Performance: Among blue-chip stocks, CHINA OVERSEAS and LONGFOR GROUP also saw positive movements, with increases of 3.99% and 4.15%, respectively, amidst significant short selling.
