DiDi
DJI announced it will halt its business in Russia and Ukraine, becoming the first prominent Chinese firm in doing so. Ukrainian authorities say drones made by the company have been used by the Russian military during the conflict. DJI To LeaveQ1 2022 hedge fund letters, conferences and more DJI has also underlined that it condemns any military use of its products, as Mykhailo Fedorov, Ukrainian Vice Prime Minister and Minister of Digital Transformation, said that Russian forces were using DJI products to support missile attacks. In an open letter to DJI’s CEO Frank Wang, he said asked the comp...
ValueWalk
Ever since Didi‘s IPO in June 2021, the company has been thrusted with assorted investigations in the domestic market. The regulators’ actions left the ride-hailing giant’s rivals with a rare opportunity to challenge Didi’s grip on the market. Q4 2021 hedge fund letters, conferences and more Didi's IPOOn June 30, 2021, Didi Global Inc., which facilitated 88% of ride-hailing trips in China in the fourth quarter of 2020, went public in New York. This blockbuster IPO, amounting to USD 4.4 billion, was the second biggest US float by a China-based company, after Alibaba, giving Didi a market value ...
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Didi Global Inc (NYSE:DIDI)’s stock surged in U.S. premarket trading on Friday, after the ride-sharing company from China had announced a possible delisting from the New York Stock Exchange. Didi also said it is lining up a plan to go public in Hong Kong. Q3 2021 hedge fund letters, conferences and more Didi StockAs reported by CNBC, Didi stock jumped 14% on Friday right after the company said Thursday “it will delist from the New York Stock Exchange ‘immediately’ and begin preparations for a separate listing in Hong Kong. “U.S. shares are to be converted into ‘freely tradeable shares’ on anot...
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ByteDance, the company that owns social network TikTok, has indefinitely abandoned its intention to go public in the U.S. after the Cyberspace Administration of China (CAC) urged it to review possible risks for the security of its users’ data, according to the Wall Street Journal. Q2 2021 hedge fund letters, conferences and more ByteDance Dropping IPO IntentionsThe company was valued at $180 billion in its latest round of investment and was evaluating the execution of an initial public offering either in the U.S. or Hong Kong. However, the plan was halted in March 2021 –at which point ByteDanc...
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Chinese regulators’ growing scrutiny of local companies’ overseas IPO’s –namely in the U.S.– are prompting investors to look elsewhere. Funds in China say that regulatory announcements add clarity in the security markets, but fintech firms aiming at local IPOs are also finding it hard. Q2 2021 hedge fund letters, conferences and more Regulators Steadily Adding PoliciesWith regards to the tightening in securities regulations, Michael Xu, managing partner at China-based CEC Asset Management, was quoted as saying on CNBC: “There is no impact at all on exits, investment direction and investment st...
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Recently IPO’d Chinese-ride share app DiDi was banned from China’s app store shortly after its IPO. China’s cybersecurity agency banned it after privacy concerns, which the government failed to recognize the irony of. Q2 2021 hedge fund letters, conferences and more DiDi To Remain Banned In China Until It Addresses Security Concerns“The Chinese government does not condone non-state sanctioned spying of its citizens. Until DiDi addresses privacy and security concerns it’ll remain banned in the app store,” said Suk mi Dik Minister of Cybersecurity in China. “This is an incredible win for Uber. A...
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New York (AFP) - Shares of Didi Chuxing plunged Tuesday after Beijing required app stores to pull the Chinese ride-hailing program as part of a widening crackdown on technology companies. Also falling sharply were Full Truck Alliance and Kanzhun, two other Chinese companies that recently began trading in New York, but now face Chinese government probes. More established US-listed Chinese companies, such as Alibaba and JD.com, also fell moderately, suggesting broad investor unease with Beijing's more aggressive posture. "You could say that the last decade has been regulatory-free for the Chine...
AFP
New York (AFP) - Ride-hailing giant Didi Chuxing has filed to list its shares in New York, a high-profile move by a Chinese tech firm in the United States despite soaring tensions between the superpowers, with reports saying it could be one of the biggest IPOs this year. The popular app has dominated the Chinese market ride-hailing market ever since it won a costly turf war against US titan Uber in 2016 and took over its local unit. It filed a placeholder application for an initial public offering worth $100 million with the US regulators on Thursday for entry to the New York Stock Exchange, ...
AFP
In the business world, the term “unicorn” means a privately held startup company with a valuation of more than $1 billion. This term unicorn was coined in 2013. At the time, there were just 40 private companies meeting the criteria. Now, there are about 500 companies globally meeting the criteria of a unicorn. Discussed in the article are the top ten most valuable unicorns in 2020. Q3 2020 hedge fund letters, conferences and more Top ten most valuable unicorns in 2020Our list of most valuable unicorns in 2020 is based on the list compiled by cbinsights of the "World’s Most Valuable Unicorns." ...
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