ByteDance is considering selling a single-digit percentage point of its stake in Chinese sneaker reselling platform Poizon, Bloomberg reported, citing people with knowledge of the matter. The TikTok owner bought a 30% stake in Hupu, the online sports forum and e-commerce platform behind Poizon, with RMB 1.26 billion ($182 million) in 2019. The potential sale […]
Posted inOn the Cusp
Chinese video platform Bilibili to cut 20% of staff: report
Bilibili has yet to turn a profit since it went public in 2018. This layoff shows its urgency to hit the goal of becoming profitable in 2024.
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Nio to introduce two-way charging for EVs starting in July
Chinese electric vehicle maker Nio on Monday released a 220-volt bidirectional home charger, which can both pull power from the grid to charge vehicle batteries and return power to its sources. The new device is part of a line of home-energy systems released by the EV brand and can also serve as an energy storage […]
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Auto tech startup Minieye closes $120 million Series D
Chinese auto tech startup Minieye announced Monday that it has raised RMB 800 million ($120 million) in Series D. The round was led by Chinese-French private equity house Cathay Capital, venture capital firm CICC Alpha and state-owned automaker Dongfeng Asset Management. The Shenzhen-headquartered company develops advanced driver-assistance systems that can control, navigate and drive vehicles […]
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China reportedly nearing the end of Didi cybersecurity probe
Chinese regulators are reportedly in the final stages of their probe into Didi, with plans to lift the ride-hailing giant’s year-long ban on registering new users as early as this week, according to a report by the Wall Street Journal on Monday. The report, citing people familiar with the matter, shows that Beijing is easing […]
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Insights | What do Hillhouse Capital’s investments tell us about China tech stocks?
As many US-listed Chinese stocks go low, Hillhouse Capital has bucked the trend, being optimistic towards China-related assets.
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Xiaomi releases repair plans for TV screen issues
On May 29, a Xiaomi TV user took to Weibo to complain that the TV’s display screen had fallen out of the TV frame. Two days later, another user also posted a similar experience with their Xiaomi TV. The consumer electronics company later admitted that this issue exists in two batches of its EA70 TV […]
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Oppo, Vivo to build a K-12 school in southern China
Chinese smartphone brands Oppo and Vivo have joined with education brand Okii to build a K-12 school in the southern Chinese city of Dongguan.
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TSMC to invest $34 billion to expand 2nm chip production: report
Taiwan-based semiconductor foundry TSMC announced that it will invest $34 billion to expand the production volume of 2nm process chips on June 5 with approval from the local administration for land rent, Taiwan media outlet UDN reported. Last October, the firm announced plans to realize mass production of 2nm process chips by 2025. Meanwhile, the […]
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China Broadnet opens pre-registration for 5G phone numbers
China’s fourth mobile operator China Broadnet announced the launch of a pre-registration program for the public to pick phone numbers online on Monday. Numbers with the operator will begin with the three-digit prefix 192, with each user able to choose one preferred number. Depending on the chosen numbers’ uniqueness, pricing will range from RMB 69 […]