China’s search engine and AI giant Baidu Inc. on Thursday posted a 1% year over year decrease in its total revenue to 26 billion yuan (3.69 billion) for the second quarter of 2020 ending June 30, falling slightly below the Wall Street estimates of $3.7 billion.
On Aug. 14, 2020, Chinese Baidu-backed video streaming service iQIYI announced its unaudited financial report for the second quarter ended June 30, 2020.
Having faked its revenue numbers, Luckin became a laughing stock of a unicorn, with analysts on both sides of the pond contemplating over what outcomes this situation will have on a larger scale for Chinese businesses abroad.
It was reported that Bitmain had secretly submitted listing applications to the U.S. Securities and Exchange Commission (SEC), and the underwriter was Deutsche Bank.
On April 23, Luckin Coffee, the Chinese Starbucks challenger, filed for official IPO to the U.S. Security Exchange Commission, with the ticker symbol 'LK'.
NIO Automobile submitted its prospectus to the U.S. Securities and Exchange Commission (SEC) for an IPO on the New York Stock Exchange. It plans to raise up to US$1.8 billion, which will be the largest listing of a Chinese auto company in the United States.
China’s new e-commerce platform, Pinduoduo, plans to raise a maximum of $1.87 billion through its listing on the NASDAQ Global Select section, according to its updated prospectus to the U.S. Securities and Exchange Commission (SEC).
