CX Daily: Missfresh Implosion Highlights Bitter Business of Selling Groceries Online - Caixin Global
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Housing /
China’s housing market weakens further amid shaken confidence
China’s housing prices weakened further in July after briefly showing signs in June of stabilizing, underscoring shaky market confidence amid a spiraling real estate crisis.
Quick hits /
PBOC sets weaker fixing after yuan tumbles to three-month low
BUSINESS & TECH
Established by SAIC Motor in 2018, Xiangdao offers ride-hailing and car-rental services in competition with industry giant Didi Global Inc.
The latest funding round valued SAIC Motor Corp.
Largest shareholder SAIC Motor, self-driving company Momenta and Gaohang (Tianjin) Management Consulting led the fundraising.
In an exchange filing Sunday, Hong Kong-listed Haidilao predicted it will report a net loss of between 225 million yuan ($33 million) and 297 million yuan for the six months through June, as compared with last year’s first-half profit of 96.
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Caixin Global
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