Video gaming tycoon and technology entrepreneur Shi Yuzhu is facing more financial trouble after a Beijing court froze another 85.08 million yuan (S$18 million) in shares across four companies, doubling the amount of equity he is forbidden from withdrawing or transferring. The shares have been frozen for a period of three years by the Beijing Fourth Intermediate People’s Court, according.
Baidu to raise $3b in secondary HK listing chinadaily.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadaily.com.cn Daily Mail and Mail on Sunday newspapers.
This week’s highlights include ByteDance-owned Douyin’s plan to raise funds in the US, Baidu’s focus on smart cars and fraud claims against flying taxi maker EHang.