Chinese State-Owned Carmakers' Shares Rise After Merger Report
Shares of Chinese state-owned carmakers rose after a report that the government is planning mergers and restructuring in the sector amid challenges for the market.
Hong Kong-listed Dongfeng Motor Group and Guangzhou Auto Group rose by as much as 7.1% and 4.5% respectively. However, some other auto shares dropped, and the benchmark Hang Seng Index fell as much as 1.6%.
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Prime Success Responds to Sinovac Biotech's False and Misleading Claims
For More Information, Visit HONG KONG, June 14, 2025--(BUSINESS WIRE)--Prime Success L.P., (together with its affiliates, "Prime Success" or "we"), a significant shareholder of Sinovac Biotech Ltd. (NASDAQ: SVA) ("Sinovac" or the "Company") with ownership of approximately 8% of the Company's outstanding shares, today issued the following letter in response to the Company's recent false and misleading claims relating to the upcoming Special Meeting of Shareholders (the "Special Meeting") scheduled for July 8, 2025. The full text of the letter is below and available at Dear fellow Sinovac shareholders, Prime Success, L.P. (together with its affiliates, "Prime Success" or "we"), a significant shareholder of Sinovac Biotech Ltd. (NASDAQ: SVA) ("Sinovac" or the "Company"), continues to be disappointed by the current Board's ("1Globe Activist Board") distortion of the facts about what is at stake at the upcoming Special Meeting of Shareholders (the "Special Meeting") scheduled for July 8, 2025. In our June 10 letter we addressed several of the 1Globe Activist Board's misstatements and are taking the opportunity to remind all shareholders why the 1Globe Activist Board cannot be trusted: 1. Prime Success is insisting that a dividend be distributed – for all shareholders The 1Globe Activist Board's false comments are just not credible – why would any investor be against receiving a dividend? The 1Globe Activist Board wants you to believe that Prime Success is the reason that dividends have not been distributed, but we are not the Company and are not on the Board, and dividend distribution decisions are not ours to make. We can only continue to advocate on behalf of all shareholders that they should be made. Under the leadership of a SAIF Partners IV L.P. ("SAIF") nominated Board — composed of seasoned professionals with proven governance experience, deep operational insight, and a track record of building real, lasting value — we are confident that the pattern of internal conflict and ongoing litigation fueled by the 1Globe Activist Board can be broken, and shareholders can look forward to more future dividends. But that will not be possible with the 1Globe Activist Board in power as they have made clear they prioritize endless litigation over the Company's long-term success. 2. The 1Globe Activist Board is deliberately baiting shareholders by setting the dividend distribution date for one day after the Special Meeting. We call upon the Company to make dividend distribution before the Special Meeting The 1Globe Activist Board deliberately set the dividend date for one day after the Special Meeting which creates the false impression that shareholders must vote for the incumbents to receive the dividends. But the upcoming Special Meeting will determine the Company's future direction and the long-term interests of all shareholders. We call on the 1Globe Activist Board to allow for a fair, pro rata distribution of dividends and to move the date of the dividend distribution to before the Special Meeting so the meeting can refocus on its proper purpose: electing a competent Board. 3. The 1Globe Activist Board distorts historic facts to aggrandize 1Globe and smear legitimate investors Let's compare facts against rhetoric of the 1Globe Activist Board. Over the past seven years, what have we contributed to the Company? The critical lifeline investments from Prime Success and Vivo Capital, LLC, combined with management's determined efforts, enabled Sinovac to seize a pivotal opportunity: the development of CoronaVac. This initiative ultimately resulted in the delivery of billions of doses to over 60 countries, generating substantial revenues while saving countless lives. Without the success of CoronaVac, there would not be any sizable dividend to distribute now. In contrast, what has 1Globe done for the Company? It has initiated multi-jurisdictional litigation against Sinovac, leading to a waste of company resources. The 1Globe Activist Board's mischaracterization of 1Globe and Prime Success' relative contribution to Sinovac and its shareholders reveals its deeply partisan nature. 4. Shareholders: looking forward, it's time to focus on what truly matters – the future of your investment in Sinovac Sinovac needs a Board that will roll up its sleeves and run the business, guiding the Company forward on a stable, productive path. The slate put forward by SAIF, consisting of representatives from all shareholders owning more than 5% of the Company's equity stake, many of whom possess deep industry experience, achieves exactly that. We urge all shareholders to focus on the future and choose the leadership that will best secure our Company's success in the years to come. We look forward to continuing to make our case for change to our fellow shareholders and encourage them to wait for and read SAIF's proxy materials before voting for the Special Meeting on July 8, 2025. Sincerely,Prime Success, L.P. About Prime Success, L.P. Prime Success is an investment vehicle established by Advantech Capital specifically to invest in Sinovac and Sinovac Life Sciences; Advantech Capital is a private equity fund established in 2016 with a focus on innovation-driven growth opportunities in China. View source version on Contacts Media Contact Longacre Square PartnersDan Zacchei / Miller Winstonadvantech@
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3 hours ago
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Gene Solutions and Shenzhen USK Bioscience Forge Strategic Partnership to Establish Next-Generation Sequencing Laboratory in Southern China
SINGAPORE, June 14, 2025 /PRNewswire/ -- Gene Solutions, a leading multinational biotechnology company and Shenzhen USK Bioscience Co., Ltd. (USKBio), a prominent innovator in molecular diagnostics, have entered a strategic partnership through a Memorandum of Understanding (MOU). The landmark agreement paves the way for the establishment of a state-of-the-art next generation sequencing (NGS) laboratory in southern China, advancing localized oncology diagnostics. The collaboration will leverage USKBio's existing infrastructure, and Gene Solutions' advanced next-generation AI & genomics capabilities to jointly establish a next-generation sequencing (NGS) laboratory. The lab will focus on accelerating access to early cancer detection and molecular residual disease (MRD) monitoring using AI-powered circulating tumor DNA (ctDNA) technologies, tailored to address the unique clinical needs of southern China's healthcare landscape. USKBio brings extensive expertise in Polymerase Chain Reaction (PCR)-based In Vitro Diagnostics (IVD) and Good Manufacturing Practice (GMP)-certified production capabilities. Gene Solutions contributes its leadership in NGS-based oncology applications, highlighted by its groundbreaking SPOT-MAS test — Asia's first clinically validated multi-cancer early detection (MCED) assay, validated through a prospective study of 9,024 participants. Additionally, Gene Solutions recently published a real-world MRD study involving 623 patients across six cancer types—lung, colorectal, breast, gastric, liver, and ovarian—demonstrating the clinical utility of ctDNA for monitoring treatment response and assessing recurrence risk. This partnership will focus on localizing and validating these cutting-edge technologies for the Chinese market while fostering joint R&D and production of advanced IVD medical devices. This alliance represents a major step forward in delivering accessible, high-impact, personalized cancer diagnostics to a broader population in China. "This partnership with USKBio allows us to move quickly in establishing a high-impact oncology hub in southern China," said Dr. Nguyen Hoai Nghia, CEO and Co-founder at Gene Solutions. "Together, we aim to bring early, accurate, and scalable cancer screening and diagnostics to more patients, ultimately improving cancer outcomes." "Gene Solutions and USKBio are highly complementary in their core technologies, regional markets, and business models." said Dr. Yu Dehua, CEO at USKbio. "This strategic collaboration will leverage both parties' strengths, creating strong synergies to deliver greater benefits to cancer patients across the Asia region." The partnership also includes technology transfer, technical training, and joint commercialization efforts to ensure rapid deployment and widespread adoption of these advanced genomic tools. About Shenzhen USKBio Founded in August 2015, Shenzhen USKBio is a national high-tech biological enterprise established by leading Chinese and American scientists and entrepreneurs. Specializing in in vitro molecular diagnostics, USKBio integrates R&D, production, marketing, and medical testing services, with a robust presence in IVD reagents, diagnostic instruments, and testing services. Leveraging proprietary technologies such as Udx-PCR and Udx-MSP, the company offers innovative solutions for early cancer screening, precision diagnosis, and companion diagnostics. With over 36 authorized patents and collaborations across top hospitals and testing institutions in China, USKBio is a rising leader in the global molecular diagnostics industry, dedicated to advancing precision medicine. About Gene Solutions Gene Solutions is a leading multinational biotechnology company headquartered in Asia, pioneering the integration of advanced AI and circulating tumor DNA (ctDNA) technologies to deliver innovative solutions across the cancer care continuum. Recognized for its proprietary research and CAP-accredited laboratories, the company combines multi-dimensional genomics with AI-driven analytics to transform oncology—from early detection to real-time treatment monitoring. With a strong regional presence and a commitment to empowering access to precision medicine, Gene Solutions is shaping the future of cancer diagnostics and personalized care across the Asia-Pacific. Explore more information at: View original content to download multimedia: SOURCE Gene Solutions Genomics Pte Ltd Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
