Meituan Dianping reported strong fourth quarter revenue, exceeding analyst consensus expectations, and booked profits for a third consecutive quarter but warned that adverse effects from the Covid-19 outbreak could last the entire year. Why it matters: Impact to the Chinese local services super app from the Covid-19 outbreak will be “significant” because of the heavily offline nature […]
Alibaba is the first major e-commerce platform to describe online consumption during the virus. Everything but groceries and household supplies are down.
How online retail has changed, by the numbers: less hiking equipment, more instant noodles, more condoms. With color charts!
Meituan Dianping reported first quarter losses that were smaller than expected, with its core food delivery business showing signs of rapid recovery.
February marks the eighth consecutive month of decline in the world’s largest EV market since government subsidies were slashed in June.
Baidu’s guidance about the first quarter cast a shadow over its better-than-expected Q4 results, which saw profits soar 200% year on year.
Revenue for Chinese search giant Baidu contracted 1% in the second quarter compared with the same year-ago period, with the company warning that the downward trend could continue in the second half of 2020. Why it matters: Baidu narrowed a revenue decline from the first quarter, showing some signs of recovery after the Covid-19 outbreak […]
Total handset sales in China surged by 241% in March compared with February but more than one third of Chinese consumers have delayed new phone purchases.
Chinese passenger drone maker Ehang has more than quadrupled its revenues and significantly narrowed its losses in the fourth quarter, the company said Wednesday, but it expects some short-term effects from Covid-19 in 2020. Why it matters: In Ehang’s first quarterly financial results since listing on Nasdaq in December, the urban air mobility company recorded […]
Chinese online travel giant Trip.com warned in its fourth quarter results that Q1 revenue will fall by half due to negative effects brought by Covid-19.