financial Archives

Over 100 WM Motor Stores to Resume Services

On March 7, WM Motor, an electric vehicle maker in China currently caught up in a mounting capital crisis, announced through its social media outlets that more than 100 stores in China will resume normal services in the near future.

Evergrande New Energy Vehicle Forced to Repay $1.37M

Evergrande New Energy Vehicle Investment Holding Group Co., Ltd., an automobile business arm of Evergrande, recently added new information regarding its listing as a judgment debtor.

Three Arrows Capital Crypto Hedge Fund May Be Facing Liquidity Issues

Three Arrows Capital co-founder Su Zhu posted to Twitter on Wednesday to say that the firm is "committed to working this out" as rumors of insolvency have circulated across the crypto community.

China Denies Conducting Revival of Ant Group’s IPO

China Securities Regulatory Commission and Ant Group denied the report that Chinese financial regulators have started early stage talks on a potential revival of Ant Group's initial public offering (IPO).

Ant Group Invested More Than 18.8B Yuan in R&D Last Year

Ant Group, a financial company owned by Chinese tech giant Alibaba, released its "2021 Sustainable Development Report" on Wednesday, officially launching a four-in-one ESG sustainable development strategy.

AI Company AInnovation Submits Second Application for Hong Kong IPO

According to a document disclosed by the Hong Kong Stock Exchange (HKEx) on January 3, AInnovation has submitted its IPO application, with UBS, CICC and China Renaissance as co-sponsors.

Futu Holdings Limited 2020 Q3 Unaudited Financial Report: Gross Profit Soars by 314.1%

Futu Holdings Limited Thursday published its unaudited financial report for the third quarter ended Sept. 30, showing soaring gross profit and surging non-GAAP adjusted net income.

Jack Ma Urges Chinese Financial Market Reform Before Ant Group’s Huge IPO

Jack Ma, the Chinese billionaire behind Alibaba Group Holding Ltd., pointed out the lack of a healthy financial system in China and urged the reform of financial regulations in a speech Saturday.

After Financial Fraud, Luckin Reportedly Achieves Positive Cash Flow Per Store in July

Luckin Coffee Inc. reportedly achieved positive cash flow per store in July, except for roughly 300 stores located at universities that have been closed due to the COVID-19 pandemic.

Luckin Coffee Finds $300M in Revenue Fraud

Luckin Coffee announced Wednesday that an internal investigation of its financial misconduct found the company inflated its 2019 net revenue by approximately 2.12 billion yuan ($300 million).

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