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.
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Posted inHeavy Hitters
Alibaba empire under pressure, VCs flood edtech: Retailheads
China launches an anti-trust probe into Alibaba and summon executives from Ant Group, Luckin continued to grow in 2020, investment into edtech surged.
Posted inHeavy Hitters
Nasdaq is helping China keep IPOs at home
Alarmed by the Luckin Coffee, scandal, Nasdaq moves to restrict IPOs by Chinese companies, effectively helping Beijing keep them at home.
Posted inHeavy Hitters
Short seller accuses Iqiyi of revenue fraud
Iqiyi, often called the Netflix of China, is another short seller target following beverage chain Luckin Coffee’s spectacular downfall.
Posted inHeavy Hitters, On the Cusp
Nio stocks rebound as Q1 deliveries beat forecasts
The Q1 performance of Nio was a big relief for investors and eased concerns over fallout from the recent Luckin scandal.
Posted inHeavy Hitters
Chinese users can now order Starbucks coffee on Taobao
The new service expands on previous partnerships between Starbucks and Alibaba, including voice ordering on virtual assistant Tmall Genie
Posted inHeavy Hitters
Ant Group may sell more shares in Shanghai than Hong Kong in IPO: report
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.
Posted inHeavy Hitters
US regulator is investigating Iqiyi for financial fraud
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%.
Posted inHeavy Hitters
Online housing firm Beike looks to raise $2 billion in US IPO
A listing for Beike on a US exchange bucks a trend among Chinese technology firms, which are turning to domestic listings
Posted inHeavy Hitters
Fintech giant Lufax eyes $2.36 billion IPO in New York
The lending and wealth management unicorn Lufax is looking to tap into US capital markets, as regulators are increasing scrutiny of Chinese tech listings.
