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On December 24th, Zotye Automobile announced that its ninth board of directors, at its sixth extraordinary meeting of 2025, passed a resolution to reach settlements with the Yongkang branches of the Bank of China and China Construction Bank. Previously, in two financial loan contract disputes, the Yongkang branch of the Bank of China applied to freeze 50,000 yuan and related shares, while the Yongkang branch of China Construction Bank applied to freeze 4.2142 million yuan and related shares. Both freezes were subsequently lifted, and neither case went to trial. Recently, the company reached settlements with both banks. With the Yongkang branch of the Bank of China, the company is required to repay 222 million yuan in principal and interest, with 10.178 million yuan to be paid before December 31, 2025, and the remaining balance to be paid before January 31, 2026. With the Yongkang branch of China Construction Bank, the company is required to repay 183 million yuan in principal and interest, with 10 million yuan to be paid before December 31, 2025, and the remaining balance to be paid before January 31, 2026. These settlements will facilitate the companys asset revitalization and resumption of production.An EU spokesperson stated: "If necessary, the EU will respond swiftly and decisively to defend our regulatory autonomy and resist unfair practices."An EU spokesperson stated that the EUs digital rules provide a safe, fair, and level playing field for all companies and are implemented in a just and non-discriminatory manner.EU spokesperson: Freedom of expression is a fundamental right in Europe and a core value shared by the entire democratic world and the United States.On December 24th, Audiway announced that it recently received a project designation notice from a leading intelligent driving system integrator, confirming that the company will supply automotive-grade intelligent sensors. According to the clients forecast, the project is expected to start mass production and delivery in December 2026, with a life cycle of 3 years and an estimated total contract value of RMB 176 million (excluding tax).

Alibaba will register for an initial public offering in Hong Kong

Aria Thomas

Jul 26, 2022 10:59

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Alibaba (NYSE:BABA) Group Holding Ltd said on Tuesday that it would pursue a Hong Kong IPO.


By the end of 2022, the company expects to be dual-primary listed on the HKEX and NYSE.


Alibaba's CEO, Daniel Zhang, said in a press release that the company would pursue a dual listing in order to establish a "broader and more varied investor base."


Zhang said, "Hong Kong is also the launching pad for Alibaba's worldwide strategy, and we have full trust in China's economy and future."


In September 2014, Alibaba went public on the New York Stock Exchange, marking at the time the largest IPO in history.


In November of 2019, a secondary dual listing was accomplished in Hong Kong.


Since then, the firm's share price has almost halved as a result of Beijing's regulatory attack on Chinese technology companies.