Luka Zhang, Author at Pandaily

Possible Allocation of 10 Billion RMB in User Deposit by Bike-Sharing Platform ofo

On the morning of June 11, Caixin.com revealed that, ofo, the Beijing-based bike-sharing platform, has a 1.5 billion yuan ($234.2 million) deficit with only 3.5 billion yuan left in user deposit.

EV Startup Byton Raises $500 Million in Series B

Byton’s global headquarters officially opened in Nanjing on June 11, and announced the successful completion of their Series B round financing of up to $500 million on the same day.

Foxconn Sets Record IPO in Mainland China

Foxconn Industrial Internet Co Ltd. (FII) made a record debut by raising 27.1 billion yuan ($4.3 billion) on Friday, and became the most valuable tech company listed on the Shanghai Stock Exchange as well as in the entire mainland China.

Honor Launches New Flagship Honor Play with GPU Turbo Priced at $313

Huawei’s mobile brand Honor released the new flagship Honor Play smartphone and the Chinese version of Honor 9i on Wednesday afternoon in Beijing.

ofo in Deep Trouble? Co-founder Denies Rumored COO Resignation and Layoff

Radical personnel changes happened to ofo senior management including a massive layoff, according to Chinese media reports. Zhang Yanqi, COO of ofo reportedly resigned and the overseas sales department which he led was dissolved at the same time.

Xiaomi Opens the World’s Largest Mi Home Experience Store

Xiaomi CEO shared through a Weibo post on June 2 that the largest Mi Home Experience store in the world is now open in the format of a soft launch in Nanjing with an official opening date schedule for June 16.

Xiaomi Launches 8 Anniversary Products Including the Flagship Mi 8

Today, the product launch of Xiaomi Mi 8 started at 2 p.m. Beijing time at the Shenzhen Universiade Stadium as scheduled. The event is synchronously live streamed on Xiaomi‘s official website.

Mobike’s Shared Cars to be Launched on the Bike-Sharing App Deliverable in October

China’s bike-sharing giant, Mobike Technology Co., unveiled its new shared car on April 19 in Beijing. Manufactured by Xinte Electric, a local electric car company out of the Guizhou province of China, the new shared automobile is called “DEV1 shared version”.

Tesla Announces Eight New Hires Including a New CFO for China

On May 25, Tesla Inc. published a blog post on its official website introducing eight new talents they have hired recently. Among them, the CFO of the recently announced Tesla (Shanghai) Co., Ltd. has been confirmed to be James Zhou, a seasoned executive in the automobile industry.

BMW Becomes the First International Automaker to Receive Self-Driving Road Test License in China

Shanghai has granted BMW a license for self-driving vehicle road testing, allowing the German auto manufacturer to be the first multinational company with whole vehicle manufacturing capabilities to test autonomous cars on roads in China.

Nine Facts to Know in Foxconn’s Upcoming Initial Public Offering

Foxconn Industrial Internet Co Ltd (FII), a subsidiary of Foxconn Technology Co. applied to list in the Shanghai Stock Exchange on Monday morning.

Xiaomi Announces Independent Camera Department to Strengthen Camera R&D

On the evening of May 13, Xiaomi co-founder and CEO Lei Jun released an internal letter announcing the establishment of an independent camera department to strengthen R&D for smartphone cameras. Lei emphasized that camera functions have become a decisive factor for smartphone purchases among many consumers.

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