Latest Corporate News News
Fosun Pharmaceutical to Spin Off Vaccine Unit on Hong Kong Exchange
Shanghai-based Fosun Pharmaceutical plans to spin off its vaccine subsidiary, Fosun Adgenvax Biopharmaceutical, for listing on the Hong Kong stock exchange to boost R&D funding. The parent company is already listed in Shanghai and Hong Kong, amid biotech firms raising over US$1.5 billion in Hong Kong IPOs last year.
The Hang Seng Innovative Drug Index has surged 70% in a year.
China Merchants Bank Reports Flat Revenue but Profit Growth for 2025
China Merchants Bank announced 2025 preliminary results with revenue steady at 337.53 billion yuan (US$46.8 billion) after a 2024 decline. Net profit rose 1.2% to 150 billion yuan, with total assets up 7.56% to over 13 trillion yuan and stable asset quality.
The bank maintains its lead in retail banking.
Geovis Technology Forecasts Up to 91% Profit Decline in 2025
Shanghai-listed Geovis Technology expects 2025 net profit to drop 91% to 30-45 million yuan (US$4.3-6.4 million). The plunge stems from slower traditional business growth as it shifts to commercial space and low-altitude economy sectors.
Higher R&D and operating expenses also impacted earnings.
DiDi and GAC Aion Deliver Next-Gen Robotaxi R2
DiDi Autonomous Driving and GAC Aion delivered the R2 robotaxi, which has road test licenses in Guangzhou. Built on DiDi's latest platform, it processes 360-degree environmental data in real time.
The delivery marks progress in China's autonomous vehicle sector.
General Fusion Announces $1 Billion SPAC Merger for Nasdaq Listing
Canadian fusion developer General Fusion revealed a $1 billion merger with a SPAC, aiming for Nasdaq listing mid-year as the first public fusion company. The deal taps into AI-driven demand for clean power, following $400 million raised previously including from Jeff Bezos.
It uses magnetized target fusion technology with a pilot project operational last year.
CVB Financial to Acquire Heritage Commerce in $811M All-Stock Deal
CVB Financial Corp, parent of Citizens Business Bank, will acquire Heritage Commerce Corp in an $811 million all-stock transaction. The merger expands into California's Bay Area, creating a firm with $22 billion in assets; closure expected Q2 2026.
CVB shareholders will own 77% of the combined entity.
Sax Acquires Owen J. Flanagan & Co. in New York City
Top 75 accounting firm Sax acquired New York City-based Owen J. Flanagan & Co., effective Jan. 22, its second M&A deal of 2026. The deal boosts Sax's attest, tax, consulting, and advisory services; firm now has 73 partners and over $4.6 billion in AUM.
It follows a minority investment from private equity firm Cobepa.
Holland & Knight Advises Midwestern Auto Group Sale to Jeff Wyler
Holland & Knight represented Midwestern Auto Group in its sale to Jeff Wyler Automotive Family, announced Jan. 14. The acquired group rebrands as The Wyler Collection, adding 14 luxury brands to reach 35 franchises total.
Dave Cantin Group advised on the transaction.
IdentiBrands Powered by Proforma Acquires Absolute Ink
Phoenix-based IdentiBrands Powered by Proforma acquired fellow Phoenix distributor Absolute Ink Promotional Products. The deal supports IdentiBrands' growth strategy, backed by Proforma's M&A team.
It follows other Proforma affiliate acquisitions this year.
Aldabra 4 Closes $300.15 Million IPO
Aldabra 4 Liquidity Opportunity Vehicle, Inc. closed its $300.15 million initial public offering. The SPAC-like vehicle targets liquidity opportunities in mergers and acquisitions.
Details align with resurgent SPAC activity in 2026.
Echo Global Logistics Acquires Fast-Growing Logistics Firm
Echo Global Logistics merged with a fast-growing logistics company, combining for $5.4 billion in 2025 revenue. The deal aims to enhance network optimization and response speed.
It strengthens Echo's position in the logistics sector.