{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"China Business Uncovered #5: How China\u2019s Tech Elite Got Burned by a Failing Luxury-Car Dealer","description":"Program description: China Business Uncovered takes listeners inside China\u2019s business world through the eyes of reporters who investigate it firsthand. Featuring open conversations with Caixin journalists, each episode breaks down the most complex developments inside Chinese companies. Tune in to understand how critical stories are covered, what\u2019s really happening beneath the surface, and why it matters for businesses and investors operating in and around China. Recorded in Mandarin and produced in English with the help of AI, China Business Uncovered brings Caixin\u2019s in-depth investigative reporting to a global audience.  Episode intro: Baolide Holdings Group, once one of East China\u2019s biggest luxury car dealers, collapsed in 2024 under the weight of a market downturn, high-interest private borrowing and alleged falsified accounts. But what made the case stand out was the star-studded group of investors founder Yu Haijun managed to draw in, including figures linked to Alibaba, NetEase and Hillhouse Capital. In this episode of China Business Uncovered, host Kelsey Cheng speaks with Caixin reporter Wang Juanjuan about how Yu kept Baolide\u2019s IPO story alive for years and what the company\u2019s fall reveals about a private-business financing ecosystem where relationships can substitute for proper due diligence. Chapters: (01:55) Baolide\u2019s rise as a luxury car dealer (03:46) How founder Yu Haijun turned relationships into business (08:32) The listing story that became a fundraising tool (11:10) The lakeside banquet that kept star-studded investors believing (15:35) Two sets of books and Baolide\u2019s real financial picture (17:04) High-interest private debt and the cash-flow black hole (21:13) Business failure or fraud? (27:56) What Baolide\u2019s case reveals about trust in China\u2019s business world This episode of China Business Uncovered was based on these stories:  In Depth: How a Lakeside Banquet Reinforced Confidence in Baolide Among China\u2019s Tech Elite  In Depth: How China\u2019s Tech Elite Got Burned by Luxury Car Dealer Baolide\u2019s IPO Mirage&amp;nbsp;  Founder of Bankrupt Luxury Auto Dealer Baolide Detained in Fraud Probe Produced by Kelsey Cheng and Du Bohan. Unlock exclusive discounts with a Caixin group subscription  \u2014 ideal for teams and organizations. Save an extra $50. Introductory offer for new readers.  Subscribe now. ","author_name":"China Business Insider -  News From Caixin Global","author_url":"https:\/\/www.caixinglobal.com\/audio\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/41952950\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/203736935"}