On-demand Services

The on-demand delivery giant is expanding to other local life services as it aggressively marches into the power bank sharing business.

The layoff plan will affect about 500 employees in charge of research and development.

“The decision is out of my expectations,” said Luckin’s chairman Lu Zhengyao.

The COVID-19 lockdown increased membership revenue but stunted advertising revenue for iQiyi.

The new batch’s startups offer services to F&B businesses whose revenue has dropped because of the COVID-19 pandemic.

An expert in transport and logistics services, Guo Jinyi will look to steady the crisis-impacted firm navigating a fraud investigation and investor run.

The streaming service envisions a revenue-sharing model with local content creators and production houses to boost the Indonesian movie industry.

Dada Nexus’ IPO marks the second China-based company aiming to go public in the US after the Luckin Coffee scandal involving fraudulent financials.