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Posted inNews Feed

Online housing firm Beike starts a new round of layoffs: report

Chinese online housing firm Ke Holdings, also known as Beike, is starting a new round of layoffs, Chinese media outlet the Paper reported on Tuesday. The job cuts will affect the company’s research and development, operations, and mid- and back-end services the report says, citing people with knowledge of the matter. The Beijing-based firm reportedly downsized its operations in its second-hand and new property transaction services groups in March. At that time, the company refuted the rumored headcount reduction. China’s widespread tech layoff, which has impacted most of the country’s tech majors – from big-name behemoths such as Alibaba and Tencent to vertical unicorns such as Bilibli – shows no signs of ending just yet. [The Paper, in Chinese]

Posted inHeavy Hitters

Two sessions 2022: 5 Chinese tech leaders weigh in 

The annual meetings of the National People’s Congress (NPC) and the advisory Chinese People’s Political Consultative Conference (CPPCC) being held this week are most important for the windows they provide into the government’s economic targets and policy priorities in the coming year.  But the so-called “two sessions” meetings also enable some top private enterprise executives who are […]

Posted inNews Feed

Nio losses surge but CEO predicts record-breaking EV deliveries in Q4

Chinese electric vehicle maker Nio reported RMB 10.29 billion ($1.54 billion) in revenue, a 21.8% increase from last year, beating analysts’ estimate compiled by Yahoo Finance. But the company’s net loss drastically increased 316.4% from last year to RMB 2.74 billion, due to Covid-related challenges and “cost volatilities.” Nio delivered 25,059 cars for the second […]

Posted inEvents

BEYOND Expo | Hillhouse Capital’s Zhang Lei on what institutional investors can do in sustainable development

As more and more people pay attention to long-term investment, investing in ESG has become an important trend in the era of sustainable development, Hillhouse Capital founder Zhang Lei said on Wednesday during the BEYOND Virtual event. Zhang added that sustainable investment not only requires investment institutions to consider ESG in their investment targets but […]

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