ALL SCAM! From Bubble Tea to AI: Is China’s IPO Boom Hiding a Much Bigger Financial Crisis
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Hong Kong’s Securities and Futures Commission, or SFC, ordered the Hong Kong Stock Exchange to immediately suspend trading in Sichuan Baicha Baidao Industrial at 9 a.m. on October 13, 2026. Known as ChaPanda, the tea chain built its brand around a panda mascot and fruit teas. Just two years ago, it was celebrated as the first franchise-based tea chain to go public. Now it faces an investigation into suspected manipulation of investor demand during its listing.
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