Stocks
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SMIC shares hit new low since IPO, market capitalization down 150 billion yuan from July's high
As China's largest and most advanced semiconductor manufacturing company, Semiconductor Manufacturing International Corporation (SMIC), was pinned on high expectations. However, today, more than a month after its listing on China's A-share market, the company's share price fell to a new low, losing 150 billion yuan in market value.
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Chinese investment bank CICC raises its NIO target price again, as it sees three benefits of BaaS
NIO recently launched its BaaS (Battery as a Service) battery rental service. Chinese investment bank CICC believes that this will improve the company's gross margin, thus injecting new momentum into its car sales and performance improvement.
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NIO stock soared 19%, what happened?
The ADR shares of Chinese electric car company NIO soared to an all-time high on Tuesday as more and more skeptics turned into its believers.
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Xpeng plans to raise $1.28 billion in US IPO, priced above range
Tesla's Chinese rival, Alibaba-backed EV maker Xpeng Motors plans to raise $1.28 billion in an IPO on the New York Stock Exchange, priced above the initial range, according to IFR.
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Chinese e-commerce platform Pinduoduo becomes youngest Nasdaq 100 index company
The Nasdaq Stock Exchange on Tuesday included Pinduoduo as a constituent of the "Nasdaq 100 Index", making the Chinese e-commerce company the youngest current constituent of the index.
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Jack Ma's Ant Group files for dual listing in Hong Kong and Shanghai
Ant Group, controlled by Alibaba founder Jack Ma, filed a listing prospectus with China's Nasdaq-style sci-tech innovation board, also known as the STAR market, and concurrently filed an A1 Application Proof with the Hong Kong Stock Exchange, a key step towards its A+H dual listing.
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Luckin Coffee opens flagship store on Chinese e-commerce platform Pinduoduo
Luckin Coffee, which is embroiled in the financial fraud controversy, announced on Weibo on August 24 that it has opened a flagship store on China's emerging e-commerce platform Pinduoduo to sell coffee, coffee cups and other products.
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Xpeng to raise up to $1.27 billion in upcoming US IPO
Chinese electric vehicle company Xpeng Motors has filed with the US Securities and Exchange Commission that it plans to issue 85 million ADSs in a proposed IPO on the New York Stock Exchange.
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Luckin Coffee's single-store cash flow has turned positive, with over 4,000 stores returning to normal operations
Excluding the stores that are not yet open for business, Luckin Coffee, which is embroiled in the financial fraud controversy, has seen cash flow turn positive in stores that have resumed normal operations, the Securities Daily said, citing sources close to the company.
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Tesla's Chinese rival Xpeng may go public in US on August 27
Tesla's Chinese rival and Alibaba-backed Xpeng Motors is expected to trade on the New York Stock Exchange next week, possibly on August 27, Chinese website ifnews.com cited a source as saying.