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.
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.
Luckin launches limited-edition cup to replicate Starbuck’s cat paw mug craze
This is the first time Luckin has sold branded merchandise as it evolves its marketing and branding strategy.
Community group-buy firms fined, women boost consumption: Retailheads
China fined five community group-buy platforms for price dumping, the “she economy” is on the rise as modern Chinese women power growth.
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.