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 […]
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Posted inOn the Cusp
Sneakerheads are China’s latest set of unlikely blockchain users
Sneaker trading platforms are increasingly adopting new technologies like blockchain to keep their users happy.
Posted inOn the Cusp
The failed “Facebook of China” leaves its future in the hand of users
The founding team of Renren has finally decided to let go of their efforts to restore the platform to its former glory, leaving the fate of the site in the hands of users and partners instead.
Posted inUp and Comers
Chinese smart scooter maker Niu files for $150 million IPO
Niu’s app, which connects users with their scooters, now has 457,000 registered users.
Posted inUp and Comers
TSMC projected to surpass Intel in revenue, becoming world’s second-largest chip maker
Taiwan-based chip foundry TSMC is expected to overpass semiconductor giant Intel in the second quarter, according to Yahoo Finance estimates.
Posted inNews
Used car trading platform Uxin steers for an US IPO
Chinese second-hand car trading platform Uxin, more commonly known as Youxin in Chinese, is planning for an $800 million IPO in the US market, IFR has reported citing people familiar with the matter. The source added that the firm has already hired Goldman Sachs, JPMorgan Chase, and Morgan Stanley as the underwriters. Founded in 2011 […]
Posted inEvents
Four cornerstones for China’s 2nd-hand goods exchange unicorn
China’s shopping extravaganza Singles’ Day finished two weeks ago, but the aftermath of the 24-hour madness is going to span a whole year. Idle Fish, more commonly known by its Chinese name Xianyu (闲鱼), is helping China’s online consumers to cash in their second-hand or idle items online, not only for alieving financial pressure but also for […]
Posted inWith Chinese Characteristics
China Internet Report 2018: Chinese internet giants are expanding and so is government regulation
China’s internet industry is one of the most active across the globe and as a new report by Abacus, 500 startups, and South China Morning Post shows just why. The China Internet Report 2018 shows that China tech trinity Baidu, Tencent, and Alibaba, collectively known as “BAT”, are expanding their businesses to every corner, ranging from […]
Posted inHeavy Hitters
Chinese drone maker DJI will soon see its in-car system in a mass-produced EV
The launch marks a first milestone for the world’s largest maker of consumer drones in its push into the Chinese EV space.
Posted inHeavy Hitters
Meituan begins job cuts to lower costs: report
Meituan becomes the latest Chinese tech major to begin large-scale layoffs. Companies are replacing veteran employees with cheaper new hands.
