Latest news with #Shanghai
Wall Street Journal
an hour ago
- Business
- Wall Street Journal
Alibaba-Backed Chinese AI Startup Files for Hong Kong IPO
Alibaba 9988 1.76%increase; green up pointing triangle-backed MiniMax has confidentially filed for an initial public offering in Hong Kong, according to people familiar with the matter, signaling the onset of a race among China's generative AI startups to tap public markets. Shanghai-based MiniMax, which also counts Tencent as an investor, was valued at around $4 billion after a recent financing round and is targeting a stock-market debut as soon as this year, one of the people said.
Reuters
3 hours ago
- Business
- Reuters
Nvidia's Huang hails Chinese AI models as 'world class'
BEIJING/SHANGHAI, July 16 (Reuters) - Nvidia (NVDA.O), opens new tab CEO Jensen Huang described artificial intelligence models from Chinese firms Deepseek, Alibaba ( opens new tab and Tencent ( opens new tab as "world class" and said AI was "revolutionising" supply chains, at an exhibition in Beijing on Wednesday. Huang spoke briefly at the opening ceremony of a supply chain expo, one day after the AI giant said it would once again be able to sell its highly popular H20 chips in China. Billionaire Huang is on his third visit to China this year, days after meeting with U.S. President Donald Trump, as his firm walks a tightrope between the world's two largest economies, each of which is battling for global dominance in AI and other cutting edge technologies. Huang is also expected to hold a closed door media event in Beijing later on Wednesday afternoon. The CEO of the world's most valuable firm told state broadcaster CCTV on Tuesday that the Chinese market is massive, dynamic, and highly innovative, and it's crucial for American companies to establish roots in China. On Tuesday, U.S. Commerce Secretary Howard Lutnick said the planned resumption of sales of Nvidia's H20 AI chips to China was part of U.S. negotiations on rare earths. "The most recent change was really related to the constructive and positive discussions between the U.S. government and the Chinese government as it relates to export control discussions," Huang told media on the sidelines of the expo opening. "I have been assured that the licenses will come very fast. There are many order books already in," he added. Orders from Chinese companies for the chips need to be sent by Nvidia to the U.S. government for approval. Sources said that internet giants ByteDance and Tencent are in the process of submitting applications. ByteDance denied that it is currently submitting applications. Tencent did not respond to a request for comment. Nvidia has also announced it is developing a new chip for Chinese clients called the RTX Pro GPU that would also be compliant with U.S. export restrictions.
South China Morning Post
5 hours ago
- Business
- South China Morning Post
Hong Kong stocks power up on Nvidia resuming chip sales to China
Hong Kong stocks rose for a fifth straight day amid signs of easing US-China tensions after Nvidia said it would resume sales of some chips to China. Advertisement The Hang Seng Index advanced 1 per cent to 24,832.43 at 9.50am local time, the highest level since March 19. The Hang Seng Tech Index jumped 2.8 per cent. On the mainland, the Shanghai Composite Index and the CSI 300 Index were up 0.1 per cent. Online travel booking agency rose 2.8 per cent to HK$504, while search-engine leader Baidu surged 3.1 per cent to HK$90.35. E-commerce giant Alibaba Group Holding added 2.7 per cent to HK$116.60 and food-delivery service provider Meituan gained 1.3 per cent to HK$127.90. The laggards included chipmaker Semiconductor Manufacturing International Corporation, which dropped 1.2 per cent to HK$45.05. Chinese property developer China Overseas lost 1.2 per cent to HK$13.46 and peer Longfor Group slipped 1 per cent to HK$10.08. Nvidia CEO Jensen Huang on Wednesday will address the International Supply Chain Expo in Beijing, after the California-based chip designer said that it would sell its H20 chip – a less powerful, China-compliant alternative to its gold-standard acceleration chip – after receiving an assurance from the US government that export licences would be granted. Advertisement This is Huang's third visit to China this year. Nvidia gained 4 per cent to US$170.70 overnight in the US.
Wall Street Journal
6 hours ago
- Business
- Wall Street Journal
Chinese AI Startup MiniMax Files for Hong Kong IPO, Sources Say
MiniMax has confidentially filed for an initial public offering in Hong Kong, according to people familiar with the matter, signaling the onset of a race among China's generative AI startups to tap public markets. Shanghai-based MiniMax, which was valued at around $4 billion after a recent financing round, is targeting a stock market debut as soon as this year, one of the people said. The company has also filed its Hong Kong listing plan with China's securities regulator for review, another person said.
Yahoo
6 hours ago
- Health
- Yahoo
ArkBio's Ziresovir Included into Pediatric RSV Drug Priority List by WHO
SHANGHAI, July 15, 2025 /PRNewswire/ -- In the newly released "Paediatric drug optimization for respiratory syncytial virus (PADO-RSV) meeting report" by Global Accelerator for Paediatric formulations (GAP-f), the World Health Organization (WHO) host network, ziresovir (10mg) has been included in the PADO-RSV priority list. Ziresovir, developed by Shanghai Ark Biopharmaceutical Co., Ltd. ("ArkBio"), is the first and only RSV antiviral drug to be included in the list. This is the first time WHO has included an anti-RSV drug developed from China in the paediatric drug optimization priority list. Filling a Global Gap: Ziresovir Leads RSV Antiviral Development RSV is the leading pathogen of lower respiratory tract infections (LRTIs) in infants and young children globally, causing approximately 33 million cases of LRTIs, 3.6 million hospitalizations, and 101,400 deaths annually, with 97% of deaths occurring in low- and middle-income countries (LMICs). Despite the severe threat, current specific treatment options for RSV are extremely limited, and there is a clinical urgent need for safe, effective, and child-appropriate innovative drugs. The "Paediatric drug optimization for respiratory syncytial virus (PADO-RSV)" project initiated by WHO/GAP-f aims to systematically review the global R&D pipeline, clarify R&D priorities, and promote the development and accessibility of RSV prevention and treatment tools more suitable for the paediatric population. With its clear clinical value, child-friendly design, and good safety profile, ziresovir becomes the only product in the antiviral drug category selected for the PADO-RSV priority list, demonstrating its huge potential in the paediatric RSV treatment globally. WHO pointed out in the report that ziresovir's research results are of great significance to the global RSV treatment field and recommended conducting diverse clinical studies in broader populations to further verify its applicability and effectiveness. ArkBio will actively respond to WHO's advice with a plan to expand ziresovir's clinical development in other countries and regions. By collaborating with international scientific institutions and public health organizations, ArkBio aims to rapidly advance the drug's global registration and accessibility. Simultaneously, ArkBio is deeply aware of the importance of global public health, particularly concerned about the challenges faced by low- and middle-income countries. The company will formulate drug accessibility plans specifically for these countries to ensure ziresovir can be supplied at reasonable prices globally wherever it is needed, contributing to the prevention and treatment of RSV infection. "ArkBio has a mission to 'help patients inspire and thrive'", Dr. Jim Wu, CEO of ArkBio, stated. "The inclusion of ziresovir in the WHO PADO-RSV priority list is not only an affirmation of the years of effort by ArkBio scientists, but also an inspiration for our corporate mission. The recognition of ziresovir would allow us to expedite its global development and realize the potential on the global stage. We will ensure the innovation can not only benefit patients in China but the very needed patients worldwide. This is not just our goal but our social responsibility. ArkBio will strive to contribute more to address global public health issues." About GAP-f GAP-f stands for the Global Accelerator for Paediatric Formulations Network. Hosted by WHO, it operates throughout the drug development lifecycle to accelerate the research, development, and dissemination of optimized pediatric formulations. Identifying priorities is the first step toward a targeted R&D approach. Establishing a priority list of the most urgently needed pediatric formulations is crucial, as it helps focus the efforts and resources of researchers and suppliers on specific dosage forms and formulations that address children's most critical needs. About PADO PADO stands for Paediatric Drug Optimization. It is a WHO's legally binding international priority (based on WHA69.20 resolution) that accelerates the development of high-demand pediatric drugs by building consensus among regulators, funders, and manufacturers. It aims to identify priority products for R&D and define their ideal characteristics. It has been successfully implemented in areas including human immunodeficiency virus (HIV), hepatitis C, tuberculosis, COVID-19, antibiotics, neglected tropical diseases, and childhood cancers. These initiatives demonstrate that, against the backdrop of a fragmented and small pediatric drug market, such efforts hold potential and deliver tangible impacts in accelerating access to optimized formulations. About Ziresovir Ziresovir is a novel small-molecule RSV fusion (F) protein inhibitor. It binds to the pre-F protein conformation of the virus and prevents viral entry into human cells. Ziresovir can also suppress RSV viral transmission by blocking cell-to-cell fusion through the formation of "syncytia", a characteristic event of RSV infection of host cells. It is the first oral anti-RSV drug that has completed a phase 3 pivotal clinical study with positive results. The phase 3 results have been published in The New England Journal of Medicine and The Lancet Child & Adolescent Health. Ziresovir has received Breakthrough Therapy designation by the National Medical Products Administration (NMPA) of China. About ArkBio ArkBio is a global biotech company focused on developing innovative therapeutics for respiratory, infectious, and pediatric diseases. Founded in 2014, it has built core technology platforms and a differentiated R&D pipeline through in-house R&D efforts and external collaboration. Key drug assets include ziresovir (AK0529), the first direct-acting RSV antiviral with positive pivotal phase III results, and Azstarys (AK0901), an FDA-approved ADHD therapeutic drug. ArkBio has established strategic partnerships with several multinational pharmaceutical companies and academic institutes, including Roche, Genentech, the Scripps Research Institute, the Institute of Microbiology of Chinese Academy of Sciences, domestic and international biotechnology companies, as well as venture capital institutions. For more information, please visit: Inquiries: IR@ View original content to download multimedia: SOURCE Arkbio 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
