Got change? Lexin’s penny-stock plunge reflects sinking fortunes for China fintechs
The online loan facilitator faces a potential delisting after its American depositary shares traded below $1 for 30 consecutive business days Key Takeaways: Lexin’s American depositary shares could be delisted…
OPay rings up Nigeria digital payment prowess for Wall Street investors
The Singapore-based digital payment company has filed to list in New York, offering strong profits from its digital payment services in Nigeria Key Takeaways: OPay has filed for an IPO…
Its business stabilized, Cango signs first customer for its new AI business
The company’s bitcoin mining business held steady in the second quarter, as its first high-performance computing center was ready to receive customers in July Key Takeaways: Cango completed its overhaul…
Canaan gets doubly squeezed in latest crypto downturn
The cryptocurrency mining machine maker’s revenue plunged and its net loss ballooned in the second quarter as its product sales and mining income both tumbled Key Takeaways: Canaan’s revenue from…
Shein’s U.S. buyout hits a political wall, as China’s fintech lenders face ruin
“There’s been a very definite trend of what I would call re-transferring part of the economy from the private sector to the state sector.” — on Beijing’s regulatory retreat from…
Qfin gets frostbite as fintech winter intensifies
The fintech loan facilitator’s second-quarter profit plunged as a funding squeeze in the wake of two major sector scandals forced it to scale back its business Key Takeaways: Qfin’s net…
FinVolution finds balance with prudence at home, growth abroad
The credit-tech platform reinforced its China business with improved risk metrics in the second quarter, while turning its overseas business into a more meaningful profit source Key Takeaways: FinVolution’s risk…
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