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 […]
Sneaker trading platforms are increasingly adopting new technologies like blockchain to keep their users happy.
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.
Niu’s app, which connects users with their scooters, now has 457,000 registered users.
Taiwan-based chip foundry TSMC is expected to overpass semiconductor giant Intel in the second quarter, according to Yahoo Finance estimates.
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 […]
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 […]
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 […]
The launch marks a first milestone for the world’s largest maker of consumer drones in its push into the Chinese EV space.
Meituan becomes the latest Chinese tech major to begin large-scale layoffs. Companies are replacing veteran employees with cheaper new hands.