In May, Reuters reported that Beijing was pressing audio platform Ximalaya to drop U.S. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that U.S. regulators will potentially gain more access to audit documents of New York-listed Chinese companies. read moreĪnalysts also note the tougher stance coincides with new U.S. regulations being rolled out that could see Chinese companies delisted if they do not comply with U.S. auditing rules.HONG KONG - Chinese medical data group LinkDoc Technology Ltd has shelved plans for an IPO in the United States following Beijing's clampdown on overseas listings by domestic firms, according to three sources with direct knowledge of the matter. It is the first known Chinese firm to pull back from its IPO plans since the crackdown began last week with an investigation by China's cybersecurity regulator into ride-hailing giant Didi Global Inc just two days after it made its New York debut.īeijing said on Tuesday that it would strengthen supervision of all Chinese firms listed offshore, a sweeping regulatory shift that triggered a sell-off in U.S.-listed Chinese stocks. The decision to pull the LinkDoc deal was due to the crackdown, the sources said. This case examines a universal question: How can a tech startup (such as an AI or big data startup) address the pain points of traditional vertical industries through technological innovation and create value? Some tech startups set ambitious goals, which demand significant and sustained investments in R&D, but fail to plan for commercial development in order to remain viable: when funding runs out, they go bust.One of the sources said the regulatory uncertainty affected both the company and investors. Explore Chinabased-companies profile at Times of India for photos, videos and latest news of Chinabased-companies. Others aim for low-hanging fruit in more easily accessible markets, at the expense of pursuing their original goal once engaged on this path, it is extremely difficult to change course and build an iconic name. The LinkDoc Technology (hereinafter 'LinkDoc') case was compiled as one way to find answers to these questions. Medical data group LinkDoc Technology Ltd in July became the first Chinese company to shelve plans for an IPO in the United States due to Beijings clampdown on overseas listings by domestic firms. The issue, then, is how tech startups should strike a balance between "aiming too high" and "taking a faster route." The LinkDoc Technology (hereinafter "LinkDoc") case was compiled as one way to find answers to these questions. Chinese fitness app Keep, podcasting platform Ximalaya, medical solution provider LinkDoc reportedly canceled their US IPO plans after Didi debacle.Details: Keep did not go ahead with its planned public filing while its bankers at Morgan Stanley canceled marketing meetings with investors this week, Financial Times reported, citing people familiar with the matter. The case examines how LinkDoc, specializing in big data and serving the vertical healthcare industry, found its own answers to these issues and, more specifically, how it identified and entered its target market segment, and.
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