Latest news with #traditionalChineseMedicine
South China Morning Post
a day ago
- Politics
- South China Morning Post
Former traditional Chinese medicine chief Yu Wenming caught in corruption crackdown
China's top graft-buster is investigating the former director of the National Administration of Traditional Chinese Medicine on suspicion of corruption. Advertisement The Central Commission for Discipline Inspection said on Sunday that Yu Wenming, 62, was suspected of committing 'serious violations of discipline and law', a euphemism for corruption. Yu last appeared in public giving a speech at the Qihuang Forum held by the Chinese Association of TCM in April. His was taking part as the association's director. Yu gained a national profile during the Covid pandemic as a vocal proponent of the approach to treat the coronavirus but started his career as a journalist in 1988, after graduating with a master's degree from Tianjin University of TCM. Yu became vice director of the administration in 2004 and was promoted to director in 2018, when the State Council embarked on a reshuffle of senior personnel at the nine agencies under its direct control. In 2023, he was replaced by Yu Yanhong Advertisement During his term, Yu Wenming promoted the use of traditional Chinese medicine, heading central government calls to foster talent and systematically develop the discipline.
Yahoo
6 days ago
- Business
- Yahoo
The 46,000% Biotech Rocket: How a No-Revenue Stock Hit $30 Billion
Regencell (NASDAQ:RGC) has pulled off one of the most surreal runs in market memory soaring over 46,000% year-to-date, catapulting from a $53 million microcap to a nearly $30 billion juggernaut. The Hong Kong-based biotech, which listed on Nasdaq in 2021, specializes in traditional Chinese medicine aimed at treating neurological disorders and COVID-19. And yet, it hasn't generated a single dollar in revenue since inception. Earlier this month, the company executed a 38-for-1 stock split a move that sent shares up 283% in one day and triggered more than 10 trading halts. The stock's tiny float and frenzied momentum may be doing more heavy lifting than anything on the balance sheet. Warning! GuruFocus has detected 2 Warning Signs with RGC. Regencell's formula is rooted in herbal compounds "no synthetic ingredients," the company says targeting conditions like ADHD and autism. It also claimed its therapy reduced COVID symptoms in six days during a 2022 trial, though the results haven't been peer-reviewed. The firm itself has acknowledged it hasn't filed for regulatory approval, holds no patents, and has no distribution channels. It ended its last fiscal year with a $4.4 million net loss and continues to fund operations largely through shareholder loans and IPO proceeds. Still, the company's narrative natural medicine meets neurological care has attracted a wave of speculative attention. Like many early-stage biotech firms, Regencell is bleeding cash but it's doing so with a surprisingly thick cushion. As shown in the chart below, the company raised a sizable cash pile from 2022 through 2024, even as its debt levels remained relatively modest. This financial buffer may be buying Regencell time to run trials and fund operations while retail traders do the rest. What's possibly fueling this rocket? Just 6% of Regencell's 500 million shares are available for trading. The rest 86% is held by insiders, mostly CEO Yat-Gai Au. That ultra-low float dynamic can turbocharge even modest demand into massive price moves. For investors, this is either a once-in-a-decade asymmetrical upside or a gravity-defying bubble waiting to reset. With no news, no revenue, and no roadmap from management, the Regencell frenzy raises more questions than answers but for now, the market can't seem to look away. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
6 days ago
- Business
- Bloomberg
Blistering Rally in Herbal Medicine Stock Mints $26 Billion Fortune
A blistering rally in a tiny, money-losing traditional Chinese medicine company's stock has vaulted its founder's net worth to among the world's 100 largest fortunes. The firm, Hong Kong-based Regencell Bioscience Holding Ltd., was for all intents and purposes trading as a microcap stock on the Nasdaq just eight weeks ago. But its shares have since exploded, gaining more than 46,000% this year as of Monday's close. The move has boosted the value of Chief Executive Officer Yat-Gai Au's 86% stake to $25.6 billion, according to the Bloomberg Billionaires Index, making Au's paper wealth greater than rich-list stalwarts such as Jerry Jones and Masayoshi Son.
Yahoo
7 days ago
- Business
- Yahoo
Regencell Bioscience Stock Skyrockets as 38-to-1 Split Takes Effect
Regencell Bioscience Holdings shares took off when a 38-to-1 stock split went into effect. The biotech that does research to treat children's diseases using traditional Chinese medicine announced the forward stock split June 2. Regencell said the split was designed to "enhance liquidity" and "make the shares more accessible to investors."It's been quite a good month for investors in Regencell Bioscience Holdings (RGC). Shares of the Hong Kong-firm that focuses on the use of traditional Chinese medicine to treat Attention Deficit Hyperactivity Disorder (ADHD) and Autism Spectrum Disorder (ASD) in children more than quadrupled on the first day a huge 38-to-1 stock split took effect. The company announced the split June 2, and that the stock would be distributed June 13. Regencell said the move was intended to "enhance liquidity in the market for the Company's ordinary shares and make the shares more accessible to investors." Read the original article on Investopedia 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
South China Morning Post
29-05-2025
- General
- South China Morning Post
Hong Kong charity aims to bring traditional Chinese medicine to African nation
A charity led by a former Hong Kong leader that offers overseas aid will promote traditional Chinese medicine treatments in the African nation Djibouti this year and plans to expand its operations to at least two more countries, its head has said. GX Foundation CEO Emily Chan Ying-yang said on Thursday that the charity was cooperating with Djibouti's Ministry of Health to introduce traditional Chinese medicines registered in Hong Kong to the country to support local primary health services. The charity, which currently works in eight countries in Beijing's Belt and Road Initiative, also expected to expand services such as cataract treatment and dengue fever prevention to two or three more nations this year amid its mission to enhance the well-being of local populations, she said. The belt and road scheme is China's plan to grow global trade. Chan said that the foundation would also focus on bringing more young Hongkongers to join its humanitarian aid services overseas as part of its efforts to step up global exchanges and cooperation. 'Our projects have not only helped local people in need, but also organised young people and retired volunteers from Hong Kong to offer assistance on the ground,' Chan said. The foundation, established in Hong Kong in 2018 and chaired by former chief executive Leung Chun-ying, is a medical humanitarian aid charity. It is one of the few known Hong Kong-based NGOs serving belt and road countries.
