China E-Commerce Giant JD.com Listed Neighbourhood & Delivery Platform Dada Nexus Overstated Revenue by $140 Million for 2023 Discovered During Audit & Disclosed on 5th January 2024, Dada Nexus Share Price Decreased -53.2% YTD & -88.4% from Last 1 Year
11th January 2024 | Hong Kong
China e-commerce giant JD.com listed neighbourhood & delivery platform Dada Nexus has overstated revenue by $140 million (CNY 1 billion) for 2023 discovered during routine audit (disclosed on 5th January 2024), with Dada Nexus share price decreasing -53.2% year-to-date and -88.4% from last 12 months. JD.com current market value is $40 billion (11/1/24) and Dada Nexus market value is $395 million (11/1/24). Earlier in January 2024, JD.com won a $140.7 million (CNY 1 billion) compensation anti-monopoly lawsuit against Alibaba Group filed 6 years ago. Alibaba Taobao & Tmall had required online vendors to sell only using Alibaba platforms. In December 2023, JD.com had accused China wealth manager Noah Holdings of engaging in a malicious lawsuit & misleading public in $4.2 billion fraud (CNY 30 billion) during a Shanghai court trial. Noah Holdings subsidiary Gopher Asset Management had provided financing to Lui Jing (providing Noah with false JD.com documents) & causing over $1.1 billion of losses, and was sentenced to life for fraud. Gopher Asset Management Executive Fang Jianhua had also been sentenced to jail for accepting bribes from Luo Jing. JD.com cited Noah Holdings had been involved in more than 10 similar incidents and had been warned & punished by authorities.
” China E-Commerce Giant JD.com Listed Neighbourhood & Delivery Platform Dada Nexus Overstated Revenue by $140 Million for 2023 Discovered During Audit & Disclosed on 5th January 2024, Dada Nexus Share Price Decreased -53.2% YTD & -88.4% from Last 1 Year “
China E-Commerce Giant JD.com Wins $140.7 Million Compensation Anti-Monopoly Lawsuit Against Alibaba Group Filed 6 Years Ago, Alibaba Taobao & Tmall Required Online Vendors to Sell Only Using Alibaba Platforms
4th January 2024 – China e-commerce giant JD.com has won a $140.7 million (CNY 1 billion) compensation anti-monopoly lawsuit against Alibaba Group filed 6 years ago. Alibaba Taobao & Tmall had required online vendors to sell only using Alibaba platforms. In December 2023, JD.com had accused China wealth manager Noah Holdings of engaging in a malicious lawsuit & misleading public in $4.2 billion fraud (CNY 30 billion) during a Shanghai court trial. Noah Holdings subsidiary Gopher Asset Management had provided financing to Lui Jing (providing Noah with false JD.com documents) & causing over $1.1 billion of losses, and was sentenced to life for fraud. Gopher Asset Management Executive Fang Jianhua had also been sentenced to jail for accepting bribes from Luo Jing. JD.com cited Noah Holdings had been involved in more than 10 similar incidents and had been warned & punished by authorities.
China E-Commerce Giant JD.com Accused China Wealth Manager Noah Holdings of Engaging in Malicious Lawsuit & Misleading Public in $4.2 Billion Fraud During Shanghai Court Trial , Noah Subsidiary Gopher Asset Management Provided Financing to Lui Jing with False JD.com Documents & Causing Over $1.1 Billion of Losses & was Sentenced to Life for Fraud, Gopher Asset Management Executive Fang Jianhua Sentenced to Jail for Accepting Bribes from Luo Jing
8th December 2023 – China e-commerce giant JD.com has accused China wealth manager Noah Holdings of engaging in a malicious lawsuit & misleading public in $4.2 billion fraud (CNY 30 billion) during a Shanghai court trial. Noah Holdings subsidiary Gopher Asset Management had provided financing to Lui Jing (providing Noah with false JD.com documents) & causing over $1.1 billion of losses, and was sentenced to life for fraud. Gopher Asset Management Executive Fang Jianhua had also been sentenced to jail for accepting bribes from Luo Jing. JD.com cited Noah Holdings had been involved in more than 10 similar incidents and had been warned & punished by authorities.
China E-Commerce Giant JD.com Accused China Wealth Manager Noah Holdings of Engaging in Malicious Lawsuit & Misleading Public in $4.2 Billion Fraud During Shanghai Court Trial
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