Alarmed by the Luckin Coffee, scandal, Nasdaq moves to restrict IPOs by Chinese companies, effectively helping Beijing keep them at home.
Iqiyi, often called the Netflix of China, is another short seller target following beverage chain Luckin Coffee’s spectacular downfall.
The dual IPOs for fintech giant Ant Group are likely to be the biggest of the year, and Shanghai’s fledgling STAR Market could see a major boost.
Iqiyi said it is under investigation by the SEC over a short report released in April that accused the company of inflating 2019 revenue by up to 40%.
A listing for Beike on a US exchange bucks a trend among Chinese technology firms, which are turning to domestic listings
The lending and wealth management unicorn Lufax is looking to tap into US capital markets, as regulators are increasing scrutiny of Chinese tech listings.
Ctrip is the fourth Chinese tech company that mulls delisting from the US financial markets in around one month as the tension between the two countries intensify.
Sina is the second Chinese tech company in a month mulling a delisting from the US market, a sign that Chinese tech firms are shying away from US markets.