The valuation represents a jump of over 20% from the $5.1 billion the company was worth after the Japanese conglomerate invested in it last month.
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Chip shortage restricts China’s car production, leaving showrooms empty, but local brands are faring better
Car output fell 6.8 per cent in May as buyers are left waiting months for new vehicles, but local brands with lower sales volumes are faring better than premium foreign brands.
Fluid like water: Lessons from Chinese DTC brands
China’s DTC or direct-to-consumer brands are shapeless like water, says OMD China’s Mimi Lu, with fluid branding, a fluid omnichannel and fluid segmentation based on small data.
XPeng stock jumps as Chinese Tesla rival reportedly gets approval for Hong Kong IPO
Xpeng’s American depositary receipts jumped more than 5% in U.S. premarket trading, following the reports on Wednesday.
China cuts second batch of crude oil import quotas for private refiners – document, sources
China has issued 35.24 million tonnes of crude oil import quotas to non-state refiners in a second batch of allowances for 2021, a 35% drop from the same slot last year, according to a document…
AntChain Launches Developer Support Program to Foster Global Collaboration on Blockchain and Other Innovations
AntChain, Ant Group’s technology brand, today launched a developer community support program at its first developer conference. The program is designe …
Bitcoin price: Why cryptocurrency is recovering after crashing to six-month low on back of China crackdown
Bitcoin has recovered back to $34,000 (£24,500), after falling below $30,000 (£21,000) for the first time in six months …
China’s Crypto Crackdown Expected to Push Mining Overseas
China’s crackdown on the cryptocurrency industry is expected to spur miners to uproot their operations and head abroad.
Caixin China Biz Roundup: The Chinese Brands Going Global
New report says more of the Asian nation’s biggest firms are gaining an international reputation for innovation and quality; the latest on a corruption scandal rocking the country’s top policy lender; …
Chinese grocery platforms Missfresh, Dingdong scale down US IPO fundraising targets amid investor concerns about growth outlook
Missfresh and Dingdong Maicai plan to raise over US$300 million each from their US stock offerings, lower than their initial targets of around US$500 million.
In China, Cashless Is King
From Alipay and WeChat Pay to the digital RMB, the past, present, and future of China’s digital payment services.
Alibaba Alum Becomes Billionaire With IPO for China Startup
Former Alibaba Group Holding Ltd. employee Zhang Hui is the latest Chinese entrepreneur to join the ranks of billionaires after his Uber-like trucking startup went public Tuesday in New York.
China’s Dingdong targets over US$6 billion valuation in US IPO
Chinese grocery app Dingdong said on Tuesday it was aiming for a valuation of over US$6 billion in its initial public offering in the United States.
