Pandaily's Digest #20210611
Didi Chuxing Files for Blockbuster US IPO, Revealing $30 Million Profit for Q1, China Commences Testing for the Internet of Cars, Mapping Out a Driverless Future, and more.
China’s Ride-Hailing King Didi Chuxing Files for Blockbuster US IPO, Revealing $30 Million Profit for Q1
Didi Chuxing, China’s leading ride-hailing platform, unveiled the filing for its long-awaited US stock market debut on Thursday, marking a further step toward what could be the world’s biggest IPO this year.
China Commences Testing for the Internet of Cars, Mapping Out a Driverless Future
China on Thursday initiated a new pilot program related to the Internet of Vehicles, focusing on data security and identity authentication, aiming to advance the safety of the next generation technology.
Company Behind Fallen Bike-Sharing Unicorn Ofo Found to Lack Executable Funds
According to enterprise information platform Tianyancha, Dongxia Datong (Beijing) Management Consulting Co. Ltd., the operator of the now defunct bike-sharing platform Ofo, was found to possess no executable funds following a court order on June 10.
Luckin’s Ex-Chairman Lu Zhengyao Becomes Judgment Debtor for Third Time, Faces $188 Million Fine
According to public information posted to China’s enforcement information disclosure website, Luckin Coffee’s ex-chairman Lu Zhengyao on Wednesday was listed as a judgment debtor by the Higher People’s Court of Beijing Municipality, obliging him to pay about 1.2 billion yuan ($188 million) in fines.
China Esports Weekly: Hyperice Named Special Partner of LPL, Jingdong Gaming Signs Two-Year Title Sponsorship With Intel
In the week leading up to the summer season, the temperature in China has begun to increase, as has esports business news across the country. Last week, the esports industry in China saw some new brands enter the scene, including the first automotive sponsor for Victory Five.
Alibaba to Develop Self-Driving Trucks, Eyeing Next Potential Hot Spot in China’s Tech Sector
Chinese internet giant Alibaba announced on Thursday it will develop driverless trucks with its logistics unit Cainiao, as the company ramps up efforts to follow a trend that may revolutionize the transportation industry.
China Blocks the Search of Several Crypto-Related Keywords, Intensifying Crackdown
China’s twitter-like social media platform Weibo and search engine Baidu have blocked a series of crypto-related keywords, as the government continues putting pressure on the cryptocurrency market.
Biden Withdraws Trump’s Executive Orders Seeking to Ban TikTok and WeChat over Security Concerns
US President Joe Biden on Wednesday revoked former President Trump’s executive orders trying to ban Chinese short video app TikTok and instant communication app WeChat over national security concerns and issued a new order to review security concerns posed by these apps, the White House said.
Tesla’s China Sales Rebound in May Despite Customer Complaints and Government Scrutiny
Tesla’s deliveries in China unexpectedly surged in May after a short-lived downturn, following which the company regained its throne in the national electric vehicle (EV) market despite a backlash over issues with quality and data protection.