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American carmaker made a $210 million loss in the country in the first half
Aug.15 2024 19:43 PM
company-info
  • Syngenta Group, a leading global agrochemical company, has paused its planned IPO on China's A-share market after withdrawing a 65 billion yuan application in March 2024. This follows a previous withdrawal from the STAR Market in May 2023. The withdrawals were attributed to the large fundraising scale challenging for the A-share market to absorb and a downturn in the agrochemical industry affecting Syngenta's performance.
  • From 2020 to 2022, Syngenta Group reported increasing revenues but faced a significant profit drop by 86.9% in the first nine months of 2023 compared to the same period in 2022. Financial challenges included high initial financial leverage and interest expenses from debts incurred during aggressive acquisitions, including the $49 billion purchase of Swiss Syngenta by ChemChina.
  • Despite setbacks, Syngenta remains committed to eventually relisting, focusing on enhancing its R&D capabilities within China to meet local agricultural transformation needs. The group aims to leverage its global network to promote Chinese agricultural innovation globally while facing stringent regulatory environments and market cultivation challenges for genetically modified (GM) crops in China.
Apr.27 2024 13:24 PM
company-info
The move paves the way for the commercialization of these crops that could help the country boost output and reduce its dependence on imported food
Jan.19 2024 20:20 PM
company-info
  • China has approved 36 genetically modified (GM) corn varieties and 10 GM soybean varieties for commercial production, marking a significant step towards the commercialization of GM food crops.
  • The approval includes major beneficiaries like China National Seed Group and Beijing Dabeinong Technology Group, with a total of over 90% of the approved varieties linked to three domestic giants in the GM industry.
  • Challenges remain regarding ecological and health concerns, regulatory clarity on cultivation and direct human consumption, and competition from gene editing technologies.
Jan.6 2024 13:45 PM
company-info
Large-scale marketing of genetically modified variations would support the government’s drive for food self-sufficiency and security
Oct.18 2023 15:16 PM
company-info
Biden administration’s decision on $7,500 tax credit could determine China’s role in U.S. electric-vehicle industry
Sep.28 2023 18:58 PM
company-info
Top Tencent investor considers Meituan sell-off, Russian e-commerce platform opens China office
Nov.25 2022 20:57 PM
company-info
Weaker sales mirror softening demand for cars as economy cools
Oct.9 2018 18:11 PM
company-info
Shandong Denghai comes clean after three employees detained by police
Jul.11 2018 18:00 PM
company-info
Chinese suppliers seen as necessary to get vehicles qualified for government subsidies
Dec.6 2017 16:54 PM
company-info
Combination of South American and international areas leaves U.S. auto giant with just three global regions: North America, China and International
Oct.4 2017 17:31 PM
company-info
U.S. automaker aims to offer at least 10 new-energy vehicles to Chinese consumers between 2016 and 2020
Sep.18 2017 17:17 PM
company-info
Decision to end Chevrolet sales in India comes as the American automaker proceeds with a brand restructuring in China
May.20 2017 05:49 AM