NIO Automobile submitted its prospectus to the U.S. Securities and Exchange Commission (SEC) for an IPO on the New York Stock Exchange. It plans to raise up to US$1.8 billion, which will be the largest listing of a Chinese auto company in the United States.
Xiaomi is set to unveil its first smartphone under the POCO by Xiaomi sub-brand in New Delhi, India on August 22. Branded as “Master of Speed”, the new POCO F1 is said to share many features of the flagship Xiaomi Mi 8.
Ucommune, previously UrWork, the only Chinese unicorn in the co-working space, announced on August 14 that the company received a new round of funding from RK Properties and Jingrong Holdings, raising 300 million yuan ($45 million) at a post-money valuation of $ 1.8 billion.
One of China’s biggest gaming exhibitions, ChinaJoy2018, closed on August 6th in Shanghai with many companies showcasing games, applications and gadgets on the annual event.
Foreign entrepreneurs and investors meeting certain requirements now can apply a new business startup visa piloted in select districts in Shanghai to live in China.
Motorola confirmed on its Weibo account on August 6 that it will host a new product launch in Wuhan in the middle of August, likely to launch the first 5G module in China.
Smart speakers, voice interaction and interconnection functions in smart home appliances were the critical developments in the Chinese smart devices market in the first quarter of 2018.
Binance, a major cryptocurrency exchange, announced the purchase of Trust Wallet on July 31. This is Binance’s first acquisition and the aim is to add an on-chain mobile wallet to its list of services with other integration possibilities in the future.
Baidu released on August 1 its unaudited financial report for the second quarter of the 2018 fiscal year. Baidu’s total revenue grew 32 percent to reach 26 billion yuan ($60 billion), while its net profit grew 45 percent to reach 6.4 billion yuan.
OnePlus has emerged as the fastest growing smartphone brand in the past quarter in India, leading the high-end smartphone sales for the first time in the market.