Stocks

Alibaba posted an operating loss of 7.663 billion yuan ($1.170 billion) in its fiscal fourth quarter ended March 31 this year, the e-commerce giant's first quarterly loss since going public, mainly affected by fines from an antitrust investigation.

Soul's revenue in 2020 was RMB 498 million ($78 million), up 604.3% year-on-year, the company's prospectus showed.

There is no precedent for an investor suing a US-listed company in China, making this case the first of its kind.

China's State Administration for Market Regulation announced on Monday that it had opened an investigation into Meituan's alleged monopolistic practices such as "forced exclusivity".

Feiyu was up 118% at one point in early trading and has now pared its gains to about 63%.

After the move Meituan will have $18 billion in net cash, compared with $17 billion for Pinduoduo, $15.7 billion for JD.com and $51.6 billion for Alibaba, Nomura said.

Under the agreement, Centurium Capital has agreed to invest approximately $240 million in a private placement of Luckin Coffee's senior convertible preferred stock.

The certainty of a third-quarter IPO for Didi is high, but ultimately it will depend on the majority shareholder, the report said. Didi's top shareholder is currently SoftBank Group.

Shares of Alibaba closed 6.5 percent higher in Hong Kong to trade at HK$232 Monday as the anti-monopoly investigation it faces settled.

The company currently provides grocery delivery services in 16 first- and second-tier cities in China, with delivery in as little as 30 minutes.