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Chinese automaker Geely's ride-hailing arm CaoCao raised $236M in a Hong Kong IPO, listing 19% below its offer price; its market cap was $2.42B as of Wednesday (Kensaku Ihara/Nikkei Asia)

Kensaku Ihara / Nikkei Asia : Chinese automaker Geely's ride-hailing arm CaoCao raised $236M in a Hong Kong IPO, listing 19% below it...

25 June 2025

In a letter to staff, CEO Eddie Wu says Alibaba is merging its food delivery platform Ele.me and online travel agency Fliggy into its core e-commerce business (Wency Chen/South China Morning Post)

Wency Chen / South China Morning Post:
In a letter to staff, CEO Eddie Wu says Alibaba is merging its food delivery platform Ele.me and online travel agency Fliggy into its core e-commerce business  —  CEO Eddie Wu said the restructuring ‘marks a strategic upgrade from an e-commerce platform to a comprehensive consumer platform’

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