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LeEco Crisis
Online video pioneer LeEco is China's textbook case for what happens when companies expand too fast.
How LeEco Fell From Glory
From a tech startup hero to a creditors’ nightmare, LeEco provides a textbook case on business overexpansion
Tech Brief (Sept. 22): Trump Says Murdoch Family May Be Involved in TikTok Deal
Berkshire Hathaway sells remaining stake in BYD, Weibo and Kuaishou probed over undesirable ‘hot-search’ content
Caixin Weekly | Collective Securities Lawsuits Face Challenges Four Years After Launch: Local Judicial Fairness and Execution Difficulties Persist
China's securities class action system, established over four years ago, has seen limited actual cases, with courts and stakeholders hesitant to embrace it, resulting in ineffective deterrence of securities violations. Notable cases like Kangmei Pharmaceutical and Feilo Acoustics have concluded, but complexities in damage assessment hinder widespread litigation; intermediary agencies often face joint liability due to companies' lack of funds. The new Company Law, effective July 2024, enhances minority shareholder protection, but practical challenges remain, including low investor participation and enforcement difficulties in the class action process.
Faraday Future Founder Jia Yueting in Social Media Verbal Assault on HiPhi
Electric vehicle rival takes a pot shot on Weibo at Human Horizons after issuing a writ claiming infringement of trade secrets
Faraday Future Sues Former Executive Over Alleged Trade Secret Infringement
California EV startup founded by disgraced tech founder Jia Yueting is seeking monetary damage over infringements related to its sole model, the FF91 SUV
Embattled EV-Maker Faraday Future’s Losses Widen
Controversial Chinese tycoon’s company has continued to delay mass production of its first model
CX Daily: How Bad Is China’s Manufacturing Exodus?
Goldman’s China wealth management venture gets the green light to launch its business. Plus, Richard Liu cashes out about $932 million from JD.com
Shanghai Composite Index Rose 0.88% on Monday
Shenzhen Component Index closed up 1.1%
Ping An Securities Hit by Business Ban for Leshi Sponsorship
Brokerage arm of insurance giant draws three-month IPO suspension for its role in the 2010 share sale of the scandal-plagued LeEco unit
Troubled EV-Maker Faraday Future Punishes Executives for Releasing Fake Data Before 2021 Listing
The California-based carmaker says an internal investigation found no evidence of other claims of inaccurate disclosures, including those made in a short seller report
LeTV Restores Employee Benefits After Sound Year-End Earnings
The streaming service provider had a financially sound 2021, according to an internal letter seen by Caixin
Faraday Future Refutes Delisting Concerns After Failing to File Earnings Report
Nasdaq-listed EV-maker had earlier received a warning letter from the bourse over the delay in filing its earnings, which the company blamed on a short seller report
Faraday Future Responds to Short-Seller Attack It Calls ‘Misleading’
Report alleges that the electric-vehicle company will indefinitely delay its 2022 mass production target because ‘three recent visits to the factory showed little activity’ and engineering problems remain unsolved
Faraday Future Shares Slump on Nasdaq Debut
Deal proceeds even as Zhuhai government drops out of $1 billion SPAC plan to fund Jia Yueting’s long-struggling electric-car startup
Jia Yueting, Other Leshi Former Executives Banned from Securities Market for Life
Jia, four other Leshi executives, barred for financial fraud committed over 10-year period, including 2010 IPO; ban comes on top of 240 million yuan fines imposed on Jia, Leshi
Leshi, Jia Yueting Each Fined $37 Million for Financial Fraud
Chinese securities regulator says former high-flying video streaming site and its founder committed financial fraud over 10-year period
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