Another Chinese developer defaults. The new U.S. government should abandon Trump’s "misguided policies," China’s top diplomat urges

Car Inc.’s shares more than doubled in the year after their 2014 IPO, but now the company is privatizing after its growth stalled

Ucar’s sale of 20.86% of Car Inc. will raise significantly more than an unconsummated earlier deal to offload the stake, thanks to a recent surge in the company’s stock

Deal worth $245 million brokered by authorities ends month-long battle between China’s two biggest automakers as Lu Zhenyao’s empire teeters

AI chipmaker Cambricon shares more than triple on trading debut; Hong Kong posts record one-day rise in Covid-19 cases

Jinyi Guo, who stepped up as acting CEO in May, was given the job permanently, along with the chair position

Surprise $254 million deal beating out BAIC would provide an exit for embattled Lu Zhenyao amid Luckin’s financial reporting fraud scandal

ByteDance could lose more than $6 billion after India banned its popular TikTok video-sharing app; embattled Jia Yueting completes U.S. personal bankruptcy

Action against embattled Lu Zhengyao took place in April, according to Ucar Inc., shortly after Luckin’s disclosure of massive fraud

Luckin founder completes break with rental car unit; Indonesia holds talks with U.S. to lure companies from China

Lu Zhengyao’s resignation as chairman of rental car specialist Car Inc. comes two weeks after announcement that he would sever financial ties with the company

The sale of Ucar’s 21.26% stake in Car Inc. to BAIC Group could help scandal-plagued coffee chain’s founder Lu Zhengyao raise around $100 million in much-needed cash

Swiss bank may be on the hook for $100 million of defaulted loans to Luckin founder Lu Zhengyao in what CEO calls ‘unfortunate’ episode

Lu Zhengyao’s Ucar could raise up to $145 million by selling down its stock in Car Inc., whose largest shareholder could soon become U.S. private equity giant Warburg Pincus

Before the value-crushing financial fraud, the rocket rise of a stock market darling was fueled by the cash-burning business strategy of founder Lu Zhengyao

Lu Zhengyao’s Ucar failed to repay $270 million that was due in January, and has now negotiated a new plan to pay by the end of this year

Lu Zhengyao defaults on $518 million loan, while Moody’s also downgrades credit ratings for his car rental company

Caixin China services PMI comes off all-time low; global coronavirus cases pass 1 million, Luckin’s stock tanks

Luckin Inc. could post small gain in New York trading debut this week, but is likely to sag afterwards due to lack of track record