Pandaily's Digest #20210823
Ant Group denies rumors that a Hangzhou official purchased its shares; NIO accused of destroying and falsifying evidence related to a fatal traffic accident; Luckin Tea halts new franchises, and more.
Ant Group Denies Rumors That Hangzhou Official Under Disciplinary Investigation Is Purchasing Shares
Ant Group, the financial arm of Chinese e-commerce giant Alibaba, on August 22 refuted online rumors that a senior Hangzhou government official currently under disciplinary investigation had bought shares in the company during its IPO.
Family Members of Fatal NIO ES8 Accident Accuse NIO of Helping Destroy and Falsify Evidence
Sina Tech reported on Sunday that materials obtained from the family of the deceased in a NIO ES8 traffic accident suggest that police have accepted a case in which NIO stands suspected of helping to destroy and falsify evidence related to the incident.
BYD Semiconductor IPO and Listing Examination Halted by Regulators
The website of Shenzhen Stock Exchange’s ChiNext board shows that the IPO and listing examination of BYD Semiconductor Co., Ltd., considered by investors to be the “number one car chip share,” was suspended on August 18.
Alibaba-Backed Autonomous Driving Firm AutoX Takes Driving Tests in Shenzhen Urban Villages
AutoX, an Alibaba-backed autonomous driving firm based in China, released a new video on Monday showcasing how its fully driverless robotaxis handle the rush hour conditions of China’s “urban villages” in the autonomous driving challenge.
Faraday Future Expands Global Hiring Following Business Combination
Faraday Future (FF) announced on August 20 through its official WeChat account that it plans to greatly expand its number of employees over the next 12 months, following a business combination deal that closed in July of this year. The new hiring will help support the 2022 launch of its all-electric flagship vehicle, the FF 91.
Luckin Tea Halts New Franchises, Most Stores Renamed Luckin Coffee
Some Luckin Tea stores have changed their signboards and menus to match Luckin Coffee, Beijing Business Today reported on August 19. One Luckin Coffee staff member also confirmed that some Luckin Tea stores in Beijing have already changed their names, while those in other provinces and cities have not yet been renamed.
AIpark Bags Strategic Investment From Xiaomi
Chinese parking service company AIpark announced that it has obtained strategic investment from Xiaomi, with Lighthouse Capital acting as the exclusive financial adviser. The deal will help promote business collaboration between the two firms.
Kuaikan Secures $240 Million in Funding, Setting Single-Round Record for Comics Industry
On August 23, Kuaikan, the largest comics platform in China, announced the completion of a $240 million financing deal, with investors including CCB International, One Store, Tencent, Coatue and Tiantu Capital. This is the company’s largest single round of financing so far, which has once again set a new record in terms of financing amount for the comics industry.
