If the deal proceeds, Luckin founder Charles Lu and his family will receive up to HK$1.37 billion, likely to be put toward the company’s cash crunch.
Luckin’s impending implosion has led to a lot of soul-searching with many questioning the environment that allowed Luckin to thrive.
China’s Beijing Automotive Group (BAIC) is seeking to buy a stake of up to 21.26% in Car Inc, a Hong Kong-listed car rental company formed by Luckin Coffee chairman Charles Lu.
This is the first time Luckin has sold branded merchandise as it evolves its marketing and branding strategy.
In this episode, the guys are joined SCMP’s Josh Ye to discuss China’s gaming industry. They go over recent regulations, misconceptions, among others.
Elite boards that can overrule the board of directors are the latest fad in Chinese tech corporate governance.
China fined five community group-buy platforms for price dumping, the “she economy” is on the rise as modern Chinese women power growth.
Suzhou lottery winners can spend their RMB 200 of the digital yuan at JD.com, Didi, Meituan, or Bilibili—or pay their Party dues.