Chinese cloud money7/4/2023 ![]() Ruyi, meaning “as one wishes,” began as a humble Buddhist monk’s back scratcher and was later elevated to a highly revered status symbol, becoming purely decorative care of the Qing dynasty royals. Buddhist back scratcherĪ cloud form melded with that of auspicious fungus known as lingzhi which often embellishes the end of a ruyi, a sceptre-like ornamental object symbolising good fortune. From here forward in history, the cloud motif and pattern adorn decorative and wearable arts such as furniture, porcelain, jewellery and clothing. Lucky clouds appear on bronze vessels from the Zhou dynasty (circa 1046-221BCE) in a pattern known as yunwen and leiwen (cloud and thunder), which is also known as a meander or key in its western forms. Their lofty seat between earth and heaven gave clouds celestial status, with stories and artwork often depicting them as the vehicle of travelling deities – think Monkey Magic! Dragons, another powerful, auspicious Chinese symbol are often pictured hiding among storm clouds or creating whirling puffs with their breath. Yun, the word for cloud, sounds like the Chinese word for luck or fortune – therefore the two became intrinsically connected. Hence, clouds became linked to abundance. As rain bearers, clouds got the glory for bringing the wet stuff. ![]() Cloud symbolism in ChinaĬhina is traditionally an agricultural nation and farmers associated downpours with plentiful harvests that would feed them and provide for their families. For more Chinese symbolism, see this post decoding Lunar New Year. So I set out to uncover the history and meaning of this natural phenomenon as a popular Chinese symbol. Having spent some time in China and surrounding nations where the Chinese have historically had a major influence, I’ve noticed a recurring motif in the swirling, stylised representation of clouds appearing everywhere from jewellery to the 2008 Beijing Olympics torch. Morgan, UBS, Credit Suisse and Chinese investment banking firm China International Capital Corporation (CICC), are underwriting the IPO.In Chinese culture, these fluffy tufts of meteorological cotton candy have some interesting cultural significance. Some of the proceeds will go toward international expansion. Kingsoft said it will use the money it raises to invest in upgrading and expanding infrastructure and boosting technology and product development in areas such as artificial intelligence. Xiaomi's founder and CEO Lei Jun is the chairman of Kingsoft Group. Existing shareholder Xiaomi and Carmignac Gestion have expressed interest in buying up to $50 million in shares each. Kingsoft Cloud said net proceeds from the IPO could be between $392 million and around $451 million. Securities and Exchange Commission (SEC) Chairman Jay Clayton warned last month that disclosures by emerging market firms, including those from China, carry "substantially greater risk" of being "incomplete or misleading." IQiyi, which is a spinoff from Chinese internet giant Baidu, said it believes the report contains "numerous errors, unsubstantiated statements and misleading conclusions and interpretations." Shares have tanked over 80% since then and have been halted from trade. On April 2, Luckin Coffee announced an internal investigation found that its chief operating officer fabricated sales by about 2.2 billion yuan ($314 million) in 2019. is on the rise following revelations of fraud at Chinese coffee chain Luckin Coffee, the self-proclaimed rival of Starbucks in China. It also comes as scrutiny on Chinese listings in the U.S. It will test the appetite of investors for new listings. The company's IPO comes amid a tough stock market environment due to the coronavirus epidemic which has created uncertainty about the global economy in the future. Its revenue rose 78.4% year-on-year to reach 3.9 billion yuan ($568.3 million) in 2019 but its net loss increased from 1 billion yuan in 2018 to 1.1 billion yuan in 2019. Kingsoft Cloud offers products from storage to computing and networking. The company expects to price the initial public offering (IPO) on Thursday with trading to start on Friday on the Nasdaq. Kingsoft Cloud said this would raise between $3.4 billion and $3.8 billion, assuming the over-allotment option is not exercised. Personal Loans for 670 Credit Score or LowerĮach ADS is expected to be priced between $16 and $18. Personal Loans for 580 Credit Score or Lower ![]() ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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