Five companies recently applied to Chinese courts to freeze property owned by a subsidiary of electric vehicle firm WM Motor totaling about 130 million yuan ($18.9 million). Legal bodies have now agreed to the appeal.
Former flexible display unicorn Royole Technology has recently been plunged into a new crisis, after 37 million yuan ($5.3 million) in assets were frozen by a local court.
Xu Zheng, the founder of Chinese fresh grocery e-commerce company Missfresh, which is caught up in a mounting capital crisis, has said that the firm is now intensively pushing forward a business restructuring plan.
Forty-three days after the pre-sale of its Hengchi 5 model began, Evergrande Auto is reportedly to be acquired by another automobile company, and this acquisition may be led by the local government.
Flexible display maker Royole Corporation started a round of layoffs on Wednesday. This is the first round of large-scale layoffs at the company since it fell into a capital shortage crisis.
On December 10th, heavily indebted integrated circuit maker, Tsinghua Unigroup, finalized its circle of strategic investors under the supervision and guidance of the court.
It has been quiet about the Chinese messaging app Bullet Messenger lately, until a recent news report suggested the app had been temporarily removed from app stores due to copyright breaches over some of the pictures used in the app. But with the efforts of the Bullet Messenger engineering team, the application went back on […]