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The Latest Breaking News from Francis Lun

Didi Slapped With Hefty $1.2 Billion Fine. How Was the Amount Determined?

Key Takeaways: China’s cybersecurity regulator imposed a big fine of $1.2 billion on Didi after closing a year-long investigation into the company, but how it arrived at the amount has raised concern in the market

Hot Pot Giant Haidilao To Spin Off International Business Without Raising a Penny

Hot Pot Giant Haidilao To Spin Off International Business Without Raising a Penny

Key Takeaways: Haidilao shareholders will receive 90% of the company’s international Super Hi unit on a pro rata basis and no new capital will be raised The hot pot giant saw its net loss last year expand by 181% to $151 million, but things appear to be looking up after…

Living in TikTok's Shadow, Kuaishou Bleeds Red Ink and Cash

Living in TikTok's Shadow, Kuaishou Bleeds Red Ink and Cash

Key Takeaways: Kuaishou’s adjusted net loss narrowed in the first quarter, but its ad revenue came under pressure during China’s latest Covid containment measures

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CanSino's Covid Vaccine Gets WHO Nod. But Is It Too Little, Too Late?

Key Takeaways: CanSino’s Covid-19 vaccine Convidecia will be admitted to the global Covax program following its approval by the WHO The approval could have limited benefits for the company as the pandemic fades and other products are widely available By Jony Ho

With Founder Fading Out, JD.com Moves to Collective Leadership

Key takeaways: JD.com’s founder Richard Liu is stepping down from his CEO role but will remain as the company’s chairman focused on long-term strategy Some analysts believe China internet companies face greater risk from regulation at home and abroad than from changes in their top ranks By Ken Lo

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