In response to claims of labor abuse made in a recent UK documentary, Chinese fashion retailer Shein said on Monday that it will spend $15 million on upgrades to its suppliers’ factories to cover “physical enhancements” in the next three to four years. The Channel 4 documentary “Inside the Shein Machine: UNTOLD” claimed that workers […]

Chinese electric vehicle maker WM Motor is planning to buy shares of Apollo Future Mobility Group Limited, a Hong Kong listed firm, for a back-door stock market listing, state-owned media outlet Jiemian reported on Monday, citing people familiar with the matter. A Jiemian source added that the move will be announced soon, as the prospectus […]

TikTok owner ByteDance is partnering with Chinese e-commerce giant JD’s express arm Dada to support Douyin’s local life services, it was announced on Monday. Dada will provide delivery support to Douyin – the Chinese version of TikTok – for group purchases and takeout businesses. The platform’s group purchase service is currently being tested in certain […]

Taiwanese Apple assembler Foxconn reported revenue of 551.09 billion new Taiwan dollars ($18.04 billion) in November, a decrease of 29.04% monthly and 11.36% year-on-year. The company’s revenue had seen 40%-plus yearly growth in both September and October. The firm’s Zhengzhou facility was hit by Covid curbs and worker unrest last month, and its production capacity […]

Chinese video platform Bilibili has taken steps to reduce costs and improve efficiency, including the “optimization” of headcount, Chinese media outlet Late News reported on Monday. People close to the firm told the outlet that these moves would help to save over RMB 2 billion ($290 million). The “optimization” will affect Bilibili’s core businesses, including […]

Tesla reported monthly shipments of 100,291 China-made electric vehicles in November, a monthly increase of 40% and a new milestone for the company after delivering a record 83,135 EVs in September, according to a Xinhua News Agency report on Monday. Year-to-date output of Tesla’s Gigafactory Shanghai reached 655,069 vehicles as of November, and the US […]

Qcraft, a Chinese self-driving car developer backed by ByteDance and Meituan, said on Friday it has raised “hundreds of millions of RMB” in a round of financing, including from a subsidiary of investment bank China International Capital Corporation. Consumer electronics giant TCL and an unnamed top-tier chipmaker are also among the backers. In May, the […]

Annual net profit for Apple supplier GoerTek in 2022 could fall by up to 60% compared to last year, according to its stock filling on Dec. 3. The company’s expected net profit for 2022 ranges from RMB 1.7 billion to RMB 2.14 billion ($240 million to $310 million). The firm attributed the adjustment to its […]