Pandaily’s Digest #20210723

Faraday Future listed on the Nasdaq Stock Exchange, Shenzhen launched pilot project integrating digital currency into public transportation networks, China’s Esports' weekly news roundup, and more.

Faraday Future Lists in the US, Holds Market Value of $5.4 Billion

New energy vehicle maker Faraday Future (FF) listed on the Nasdaq Stock Exchange on Thursday, also holding a bell ringing ceremony to mark the occasion. The firm has initiated trading under the ticker symbol “FFIE”.

Shenzhen Launches Pilot Program of Digital Currency for Public Transportation

The southern Chinese city of Shenzhen on Friday officially launched a pilot project involving the integration of digital currency into public transportation networks, a new initiative aimed at encouraging citizens to practice greener travel.

China Esports Weekly: Esports-Related Companies and Individuals Support Henan in Countering Floods, Tencent to Buy Sumo Group for $1.27B

While last week saw several key competitions and the unveiling of new plans across China’s esports industry, the country is currently in a state of grief and resistance in the wake of a shocking natural disaster. The Dota 2’s i-League has started in Shanghai, featuring 1.2 million yuan ($185,000) in total prize money. In the meantime, however, a record-breaking rainstorm struck in the central Chinese province of Henan and its capital city of Zhengzhou.

New Oriental Education’s Stock Price Plummets Amid Stricter Government Regulation

The share price of New Oriental Education on the Hong Kong Stock Exchange on Friday afternoon has suddenly slumped. As of 4:10 pm, its was selling at HK $30.60 per share – down 39.63% – hitting a new low since its Hong Kong debut. Its latest market valuation sits at HK $55.541 billion.

Porsche Recalls 94 Cayennes Due to Risk of Losing Control

The State Administration for Market Regulation said in a statement on Friday that Porsche (China) Motors Ltd. has recalled 94 2018-2021 imported Cayenne cars, made from December 5, 2017 to February 10, 2021, as is required by relevant regulations regarding the management of defective cars.