Chinese social media and entertainment site Joyy Inc. rejected allegations of fraud by Muddy Waters Research, saying the report it published was full of “misinformation, erroneous statements and misleading conclusions.”
Shares of Chinese social media and entertainment site Joyy Inc. plunged more than 26% after a research firm accused it of being a “multibillion-dollar fraud”.
It’s a common phenomenon in many Southeast Asian countries: Young people snatch up the latest smartphone models online — but rarely are they satisfied with what comes in the mail.
Chinese social and gaming giant Tencent reported strong Q3 financial results on Thursday, generating a revenue of 125.5 billion yuan ($18.9 billion), up 29% year-on-year and ahead of analysts’ expectations.
China’s live-streaming boom has driven job seekers to grab their share of the pie, prompting a surge of live-host applications leading up to this year’s Singles’ Day online shopping bonanza.
Scientists in central China have achieved record-breaking yields in an experimental rice field in Hunan Province, marking a new milestone in the country's food security efforts.
China’s sci-fi industry reached 65.8 billion yuan ($9.8 billion) in revenue in 2019, up 44% year-on-year, according to a report announced on Sunday.