Business News
Latest business news and updates
Total: 3104
Muted on Weibo: Xibei’s CEO and Critic Luo Yonghao Silenced as Pre‑made Food Row Reignites
A renewed online confrontation between Xibei founder Jia Guolong and critic Luo Yonghao led to both of their Weibo accounts being muted, spotlighting the deep reputational damage suffered by Xibei after allegations about reliance on central‑kitchen processing. The dispute highlights a wider problem: regulatory definitions of "pre‑made" food have not translated into consumer understanding, leaving firms exposed to trust shocks and prompting calls for clearer, consumer‑facing standards.
Xibei’s Retreat: How a Viral Roast Exposed Deeper Faultlines in China’s Casual‑Dining Sector
Xibei has closed about 120 stores and faces losses surpassing 500 million yuan after a trust crisis over its use of pre‑prepared ingredients was amplified by a viral post from internet personality Luo Yonghao. The shutdowns reflect deep structural pressures in China’s casual‑dining sector — high rents, falling per‑meal spending and fragile brand trust — rather than a single cause.
Xunlei Sues Ex‑CEO as Shell Companies, Affair and Procurement Allegations Surface in Rmb200m Claim
Xunlei has filed a Rmb200 million civil suit against its former CEO, alleging he diverted funds through a shell supplier and favoured relatives and a long‑term mistress in staffing and contracting decisions. The case highlights procurement vulnerabilities and governance failures that helped fuel heavy losses during an aggressive push into cloud and blockchain businesses, and follows a management reset that the company credits with a recent financial turnaround.
Haidilao’s Founder Returns to the Helm as Shares Rally — A Reset to Rebuild Growth
Haidilao founder Zhang Yong has resumed operational leadership after CEO Gou Yiqun’s resignation, triggering a near‑double‑digit spike in the stock. The move responds to slowing core growth, early‑stage diversification via the Red Pomegranate incubator, and mounting competitive pressure in China’s hot‑pot market.
Saipan Arrest Reignites Scrutiny of Casino Money Flows and Cross‑Border Gambling Networks
Chinese businesswoman Cui Lijie was arrested by U.S. immigration agents in Saipan, reviving scrutiny of a once‑lucrative casino empire that linked Harbin, Macau and the CNMI. The case highlights how visa policies, opaque VIP gambling flows and cross‑border corporate structures attract enforcement across jurisdictions.
How a Public Feud and Hardline Founder Pushed Xibei From IPO Hope to Cash Burn
Xibei’s founder‑led confrontation with online critics and a string of emotionally driven operational moves have coincided with steep closures, large losses and damaged investor confidence. The company’s heavy couponing, labour cost increases and disrupted supply chain have burned cash without restoring customer trust, leaving its IPO ambitions in jeopardy.
Xpeng Accelerates Its Charging Rollout, Adding 53 High‑Power Stations in Early January
Xpeng added 53 charging stations in the first two weeks of 2026, prioritising ultra‑fast capacity with 42 S4/S5 sites. The move reflects a strategic push to enhance the ownership experience and build a proprietary charging ecosystem, though substantial capital and operational challenges remain in scaling nationwide.
Dreame CEO Doubles Down on 'Eye‑Popping' Valuation Dream, Frames It as a 20‑Year Mission
Dreame founder Yu Hao defended an expansive long‑term ambition — to build an ecosystem with an eye‑popping valuation — as a 20‑year mission rather than a near‑term promise. He cited technical wins, profitability and social contributions to argue the company’s confidence is grounded in results, while critics warn the rhetoric risks unsettling investors and staff.