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Caixin Global
Caixin Global
Business
Kelsey Cheng and Liu Peilin

FOUND: Iflytek to spin off loss making health care arm | Mind Blowing Facts

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What’s new: Chinese speech-recognition and artificial intelligence developer Iflytek Co. Ltd. (002230.SZ) plans to spin off its loss-making health care arm via a Hong Kong IPO.

Xunfei Healthcare Technology Co. Ltd. will seek approval to list on the main board of Hong Kong’s stock exchange, with an offer of up to 20.1 million shares and a 15% over-allotment option, Iflytek said in a regulatory filing Tuesday.

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