The Chinese Starbucks rival has been in hot water after revealing that it inflated its sales by $310 million in 2019. That scandal has dealt a fresh blow to the reputation of Chinese stocks in the U.S.
The electric-vehicle maker’s shares slid more than 11% on Wednesday after a report from short-seller Grizzly Research claimed sales to a related company juiced its numbers
Plus, Luckin Coffee reports its first-ever operating profit; Airbnb prepares to leave China; and several Shanghai residents depart city as lockdown eases
Why firms like Baidu and Alibaba could be victims of a long-running Sino-U.S. audit dispute; Luckin turns a profit; and global business leaders call for commonly accepted standards on sustainability evaluations
Shenzhen Component Index closed up 0.57%
China aims to hit its carbon-reduction goals ahead of schedule, the country’s climate change envoy says
Chain earned $3 million net profit in first quarter, a turnaround from a $35 million loss a year earlier
Coffee giant says it remains committed to U.S. markets; Xi and Macron discuss Ukraine crisis in phone call; and key auto parts supplier suspends Shanghai operations as Covid threat continues to loom
Shenzhen Component Index closed up 1.8%
China’s central bank encourages banks to set deposit rates based on market signals. Shimao sparks a bond sell-off by seeking one-year extension
Beijing weighs in on India’s Xiaomi asset seizure, CATL approved for $6.7 billion private placement
Scandal-dogged Chinese Starbucks challenger says it remains ‘committed to U.S. capital markets’
Freeze on IPOs — especially abroad — casts a chill over tech startup finance in China, despite recent signals of a government thaw
Firms including Alibaba, Pinduoduo and Baidu are among the 200-plus firms caught in the long-running audit dispute between finance officials in the world’s two biggest economies
Shenzhen Component Index closed down 1.89%
Fourth-quarter revenue jumps and loss narrows as Chinese startup moves past 2020 fraud scandal and prepares to seek relisting of its stock in the U.S.