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.
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Posted inWith Chinese Characteristics
CHINA VOICES | China reflects on Luckin: ‘Expert research’ and the 2VC model
Luckin’s impending implosion has led to a lot of soul-searching with many questioning the environment that allowed Luckin to thrive.
Posted inHeavy Hitters
Car Inc may soon exit the Charles Lu family
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.
Posted inWith Chinese Characteristics
INSIGHTS | Can superboards save China tech from one-man rule?
Elite boards that can overrule the board of directors are the latest fad in Chinese tech corporate governance.
Posted inHeavy Hitters
UPDATED: We got some digital yuan!
Suzhou lottery winners can spend their RMB 200 of the digital yuan at JD.com, Didi, Meituan, or Bilibili—or pay their Party dues.
