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Chinese Firms Show Resilient Interest in U.S. IPOs Despite Regulatory Hurdles



chinese-firms-show-resilient-interest-in-us.-ipos-despite-regulatory-hurdles News Commentary

NEW YORK, Dec. 4, 2023 /PRNewswire/ — Despite regulatory challenges and geopolitical tensions, there is a sustained interest among Chinese companies in listing on U.S. stock exchanges. This trend is indicative of the global financial clout and reputation of U.S. capital markets, which offer Chinese firms access to a wider investor base and potentially higher valuations than domestic or other international exchanges. The U.S. stock market, being one of the largest and most liquid in the world, provides significant advantages for Chinese companies seeking to expand their international presence and secure capital for growth and innovation. As of October, seventeen Chinese companies raising a total of $405 million started trading on U.S. exchanges this year, according to data from IPO research firm Renaissance Capital. Last year’s 14 IPOs raised a total of $468 million. VCI Global Limited (NASDAQ: VCIG), Tencent Holding Ltd. (OTC: TCEHY), Lufax Holding Ltd (NYSE: LU), Qifu Technology, Inc. (NASDAQ: QFIN)

This ongoing interest, despite regulatory and geopolitical headwinds, underscores the strategic importance and perceived benefits of U.S. listings for Chinese companies. As noted by Kobe Ge, head of China at the New York Stock Exchange, despite the negative impact last year from Covid-19 restrictions and U.S. regulatory uncertainty, many of those issues are now resolved and “we still see very strong interest from Chinese businesses for listing in the U.S.,” he told CNBC‘s East Tech West conference in the Nansha district of Guangzhou, China earlier this year. 

VCI Global Limited (NASDAQ: VCIG) just announced breaking news that it has unveiled, “a strategic collaboration with Evolve Capital Advisory Private Limited (“Evolve Capital”). This collaboration seeks to cultivate a comprehensive avenue, providing companies with enhanced opportunities to facilitate capital markets access through public listings on NASDAQ or SGX.

Evolve Capital, a boutique investment bank focusing on growth enterprises across Southeast Asia, brings extensive expertise in providing comprehensive strategic advice, including M&A and capital markets capabilities. As a holder of the Capital Market Services Licence authorised by the Monetary Authority of Singapore (“MAS”), Evolve Capital is also an Accredited Mainboard Issue Manager and Catalist Full Sponsor by the Singapore Exchange Limited (“SGX”). Additionally, Evolve Capital has achieved the distinction of being the first Asia-based firm granted the OTCQX and OTCQB Sponsor license by OTC Markets Group Inc., offering alternative listing options for in the United States.


While acknowledging the unique strengths of various international exchanges, this collaboration seeks to provide companies with an optimal pathway to listing, including NASDAQ as a strategic option. The U.S. capital markets, renowned for their size, liquidity, and stability, offer an additional avenue for global issuers to access capital. The synergistic strengths of VCI Global and Evolve Capital aim to establish a versatile platform that caters to the evolving needs of businesses in today’s dynamic market environment. This endeavour is further fortified by VCI Global’s extensive consultancy experience, having played a pivotal role for numerous companies, especially in tandem with their listing endeavours on NASDAQ.

“This collaboration proves timely, aligning with the escalating trend of companies, particularly those from this region, actively pursuing listings, notably on NASDAQ, a platform rapidly ascending in popularity. One of the primary incentives for selecting NASDAQ as the listing venue lies in its comparatively lower minimum prerequisites for qualification. Furthermore, the positive reception of its entirely electronic trading infrastructure is noteworthy among a diverse spectrum of traders,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

Jerry Chua, Chief Executive Officer and Managing Partner at Evolve Capital, expressed enthusiasm, stating, “The collaboration with VCI Global signifies a pivotal convergence of industry acumen and strategic foresight. We eagerly anticipate harmonising the nuanced strengths of the various international exchanges, including NASDAQ and SGX, presenting companies with a bespoke and sophisticated approach to their listing strategies. This partnership underscores our unwavering dedication to ushering in a paradigm shift in the landscape of international markets, where businesses can explore a multifaceted array of listing options tailored to their unique objectives. Our enthusiasm lies in guiding companies through the intricate dynamics of global markets, establishing a collaborative paradigm that redefines possibilities and elevates our clients’ strategic positioning in the ever-evolving global marketplace.”

Tencent Holding Ltd. (OTC: TCEHY) is an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People’s Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. Ma Huateng, Chairman and CEO of Tencent, said, “During the third quarter of 2023, we achieved solid and high quality revenue growth, notable margin expansion, and structural operating leverage. Relatively new services such as Video Accounts and Mini Games contributed high margin revenue streams while we re-focused away from less-scalable activities. We are increasing investment in our AI models, providing new features to our products and enhancing our targeting capabilities for both content and advertising. We aspire to position our leading AI capability not only as a growth multiplier for ourselves, but also as a value provider to our enterprise customers, and the society at large.”

Lufax Holding Ltd (NYSE: LU) operates a technology-empowered personal financial services platform in China. The company offers loan products, including unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management platforms, such as Lufax (, Lu International (Singapore), and Lu International (Hong Kong) to the middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that offers small business owners with lending solutions; and technology empowerment solutions for financial institutions. YongSuk Cho, Chairman and Chief Executive Officer of Lufax, commented, “As part of our diversification efforts, we plan to acquire 100% of the equity interest of Ping An OneConnect Bank, pending the approval of the Hong Kong Monetary Authority and OneConnect’s shareholders. PAOB is a fully licensed bank with a service scope similar to traditional banks. As of June 30, 2023, a significant portion of PAOB’s loan balance is backed by the Hong Kong government’s SME Financing Guarantee Scheme and its capital adequacy ratio was 100%, which was substantially higher than the relevant regulatory requirement. We believe the business and target customers of PAOB sync well with our existing operations.”


Qifu Technology, Inc. (NASDAQ: QFIN) through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People’s Republic of China. “We are pleased to report another quarter of solid financial results in a rather challenging macro environment. Total revenue was RMB4.28 billion and non-GAAP net income was RMB1.18 billion for the third quarter,” Alex Xu, Chief Financial Officer, commented in the Company’s most recent financial report. “During the quarter, despite the macro uncertainty, we continued to improve our operational efficiency and drive for better economic returns. At the end of the third quarter, our total cash and cash equivalent was approximately RMB8.2 billion, and we generated approximately RMB1.2 billion cash from operations. Our strong financial positions not only enable us to drive quality growth, but also allow us to deliver attractive shareholder returns through dividend payout and share repurchase.”

Bilibili Inc. (NASDAQ: BILI) provides online entertainment services for the young generations in the People’s Republic of China. Its platform offers a range of content, including video services, mobile games, and value-added service, as well as ACG-related comic and audio content. In it’s recent financial report Rui Chen, chairman and chief executive officer of Bilibili, said “We delivered remarkable user growth and engagement in the third quarter while effectively improving our commercialization efficiency. Our DAUs surpassed an exciting milestone of 100 million, marking a 14% year-over-year increase to 103 million. Additionally, users’ average daily time spent on our platform reached a historical high of 100 minutes, boosting total user time spent2 by 19% year-over-year. Meanwhile, we are continuing to strengthen our commercialization efficiency by integrating advertising solutions and live broadcasting across our content ecosystem. This strategy has driven our revenues from advertising and value-added services up by 21% and 17% year-over-year, respectively. We are proud of the quality community growth we have achieved thus far, and we are confident that our self-driven content ecosystem will lead to even more user growth and commercial opportunities ahead.”

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Fintech PR

Invitation to presentation of EQT AB’s Q1 Announcement 2024




STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting


The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision


The following files are available for download:

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EQT AB Group


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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs



  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”


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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update




VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.


BioVaxys Technology Corp. (, a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit and connect with us on X and LinkedIn.


Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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