As Chinese authorities signal that a two-year crackdown on the domestic technology sector is over, global investors are relieved and yet loath to take the government at its word. Foreign investors have been returning to mainland markets since May as its stringent COVID-19 lockdowns ease and after pledges from China’s highest policymakers, including Vice Premier… Continue reading Investors are both eager and uneasy as China signals end of crackdown on tech sector
Tag: Didi
Didi may delist from the US on June 10
Public shareholders recently voted in favor of the move, but Didi has not informed them about the official exit date, Nikkei Asia reported. Go to Source
Beijing gives initial nod to reviving Ant IPO plans in Shanghai, HK
China’s central leadership has given a tentative green light to Jack Ma’s Ant Group to revive its initial public offering in Shanghai and Hong Kong, two sources with knowledge of the matter told Reuters on Thursday. Ant, an affiliate of Chinese e-commerce behemoth Alibaba Group Holding Ltd, aims to file the preliminary prospectus for the… Continue reading Beijing gives initial nod to reviving Ant IPO plans in Shanghai, HK
Didi pursues EV stake as it emerges from regulatory shadows
China’s Didi is in talks with state-backed Sinomach Automobile to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer’s regulatory troubles are in the rear view mirror as it focuses on growth. The deal, if completed, would accelerate Didi Global Inc’s strategic expansion in the world’s largest EV market and help cushion the impact of… Continue reading Didi pursues EV stake as it emerges from regulatory shadows
Chinese stocks soaring despite regulatory crackdowns against tech industry
Yahoo Finance reporter Ines Ferre joins Yahoo Finance Live to discuss the impressive performance of several Chinese stocks amid regulatory scrutiny of the country’s tech industry. Video Transcript SEANA SMITH: Didi closing up just around 24%. INES FERRE: Yeah, that’s right, Seana. Still more than 85% off of its all-time highs from last year. But… Continue reading Chinese stocks soaring despite regulatory crackdowns against tech industry
Didi may soon get regulators’ nod to add new users
Chinese regulators may also restore Didi’s mobile apps on local app stores, the Wall Street Journal reported. Go to Source
Chinese electric automakers see boost from post-COVID optimism, good metrics
Yahoo Finance Live anchors discuss what’s driving investor sentiment in Chinese electric automakers. Video Transcript BRIAN SOZZI: Chinese EV makers are seeing a charge this morning, charged up by strong sales numbers from Li Auto, as post-lockdown demand is set to keep things upbeat. Tax exemptions and subsidies from the Chinese government are also providing… Continue reading Chinese electric automakers see boost from post-COVID optimism, good metrics
Jiuzi Holdings, Inc. Expands “ToB” Business and Launches New Subsidiary, Jiuyao
HANGZHOU, China, May 31, 2022 /PRNewswire/ — Jiuzi Holdings, Inc. (NASDAQ: JZXN; the “Company”), a leading new energy vehicles (NEVs) franchisor and retailer under the brand name “Jiuzi” in China, today announced that its subsidiary, Hangzhou Jiuyao New Energy Automobile Technology Co. Ltd. (“Jiuyao”), an NEV procurement platform servicing business customers, has officially launched its… Continue reading Jiuzi Holdings, Inc. Expands “ToB” Business and Launches New Subsidiary, Jiuyao
Didi Global faces rocky path to growth after getting US delisting nod
Didi Global may have ensured its survival after winning shareholders’ nod for a U.S. stock delisting but a quick return to growth won’t be easy for the Chinese ride-hailer as it still faces regulatory scrutiny and as COVID-19 has hurt the business. Didi‘s U.S. withdrawal less than a year after its debut there is seen as an attempt to appease regulators angered by its move to push ahead with a $4.4… Continue reading Didi Global faces rocky path to growth after getting US delisting nod
What Didi’s ‘train wreck’ delisting means for US-listed Chinese companies
Just 11-months after making a splash in a $4.4 billion IPO, Didi shareholders made official Monday what has long been considered inevitable and approved a plan to delist its shares from the New York Stock Exchange. With formal paperwork now set to be filed with the Securities and Exchange Committee on June 2nd, Didi becomes… Continue reading What Didi’s ‘train wreck’ delisting means for US-listed Chinese companies