Five Chinese Firms Including Baidu Face Possible Delisting in U.S.
The United States Securities and Exchange Commission (SEC) on Wednesday added five Chinese firms to a growing list of companies that may get delisted from domestic stock exchanges.
Tag: #U.S.
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Didi to Vote on Delisting of U.S. Stocks on May 23
Didi Global, a leading ride-hailing platform in China, announced on April 16 that it will hold a special shareholders meeting at 19:00 on May 23 to vote on a voluntary delisting from the New York Stock Exchange (NYSE).
TuSimple's Stock Price Plunges 45% After Firing CEO
TuSimple, an automated driving technology company, announced on October 31 that it has terminated Hou Xiaodi, the CEO, President and CTO of the company, and that it has removed him as Chairman of the Board.
11/1/20223 min read
US Court Rejects All Civil Lawsuits Against Chinese Chip Maker SMIC
Chinese chip maker SMIC announced on Friday that it had received a ruling from the United States District Court for the Central District of California dismissing, in its entirety, the civil lawsuit with prejudice and without leave to amend.
Chinese-Based Firms Confirm Minimal Exposure to Silicon Valley Bank
The recent shutdown of Silicon Valley Bank (SVB) by regulators marks the largest bank failure in the United States since 2008. Several Chinese Hong Kong-listed companies have sought to reassure investors by stating that their cash deposits in SVB were not significant.
3/13/20234 min read
BYD's Board Secretary Responds to Rumored US Ban on Chinese Batteries
On the evening of September 14, a rumor that the Inflation Reduction Act recently passed by the United States government will ban Chinese batteries after 2024 spread wildly on Chinese social media. The potential policy was then repudiated by the Secretary of the Board of BYD.
SEC Sues Justin Sun and His Companies Over Crypto Violations
On March 22, SEC filed a formal lawsuit against Justin Sun, the founder of Tron, as well as three of his wholly-owned companies. The charges against them include accusations of selling securities illegally, engaging in fraud, and manipulating the market.
3/23/20233 min read
Overseas Subsidiary of Chinese EV Firm NIO May Start Selling EVs in U.S.
A U.S.-based subsidiary of Chinese electric vehicle (EV) firm NIO has recently signed a ten-year lease for an office building in San Jose, California, doubling the area of its current headquarters to roughly 18,580 square meters.
1/18/20222 min read
ByteDance Agrees to $92 Million Settlement in US TikTok Privacy Lawsuits
ByteDance has agreed to pay US$92 million to settle a class-action lawsuit over data privacy claims from some US TikTok users, following a year of litigation.
Subsidiary of Chinese Battery Maker Gotion High-Tech to Build Factory in Michigan
Gotion, the US subsidiary of Chinese battery manufacturer Gotion High-Tech, will build a battery material factory in Big Rapids, Michigan, with an investment of about $2.364 billion, creating about 2,350 jobs.
10/8/20223 min read
Qiantu Motor to Debut in the United States through SPAC
Chinese automobile firm Qiantu Motor is expected to make its debut in the U.S. by the end of December this year, with a valuation of $1.25 billion.
5/5/20223 min read
China retaliates against the Sino-US trade war provoked by Trump
Early this morning, U.S. President Trump signed a presidential memorandum to impose punitive tariffs on $60 billion of Chinese imports to punish "China's theft ...