Video streaming provider Leshi, once touted as a Chinese tech titan, edges closer to delisting after reporting huge losses for third straight year

• The company founded by embattled entrepreneur Jia Yueting said its loss for last year widened to 11.3 billion yuan (US$1.6 billion) from 4.1 billion yuan in 2018
• The ‘sorry saga’ is a stark reminder that China is a long way from producing the next Apple or Microsoft, says He Yan of Shanghai Shiva Investment