Chinese telecom giant Huawei said revenue for the first half of the year dropped 29.5% yearly to RMB 320.4 billion ($49.6 billion) on Friday. It is the company’s most significant revenue decrease since it faced US sanctions in May 2019. The company reported a 9.8% profit margin. Huawei said in a statement that its earnings were “in line with forecast.” [Huawei]

Chinese automaker BYD plans to supply Tesla with batteries starting in the second quarter of 2022, state-owned financial media CLS reported Thursday. Tesla will buy a type of lithium iron phosphate batteries known as blade batteries, developed by BYD. The report said Tesla cars with blade batteries have entered the final testing phase. BYD refused to comment on the news when reached by the news outlet. [CLS, in Chinese]

The language learning app Duolingo disappeared from some Chinese app stores as Beijing’s crackdown on the private education industry continues. The app is no longer available on Android app stores operated by Huawei and Tencent as of today, but it’s still downloadable on the iOS app store in China. [Reuters]

Geek+, a Chinese logistics company specializing in robotics and AI, is considering an IPO that could raise about $500 million, Bloomberg reported Thursday. The Beijing-based firm is considering going public in either the US or Shanghai’s Nasdaq-style STAR board. Last June, the company secured its most recent funding, a Series C of more than $200 million. Warburg Pincus, GGV Capital, and D1 Capital Partners participated in the round. [Bloomberg]

Tencent has resumed new user registrations for super-app WeChat after a 10-day suspension for “security updates.” The company said on July 27 it had suspended new user registrations to comply with “related laws and regulations.” The news sent Tencent shares in Hong Kong down more than 9% on the same day. [SCMP]

Chinese automaker BYD became the world’s fourth most valuable automaker by market cap Wednesday, following Tesla, Toyota, and Volkswagen. Shares of the electric vehicle maker gained 10% on Wednesday to hit an all-time high of RMB 308 ($48), pushing up its valuation to about $136 billion. Several brokerages raised price targets on BYD after the automaker announced a 110.7% yearly increase in first-quarter profits in May. [National Business Daily, in Chinese]