An internal investigation by Luckin Coffee has revealed that hundreds of millions of dollars of sales in 2019 were “fabricated”, wiping almost 75 percent from the value of the company.
CategoryIndustry
Chinese food delivery service company Meituan Dianping (Meituan) warned a negative year-on-year revenue growth and operating loss for the first quarter of 2020 as a result of the pandemic.
Tesla’s Gigafactory Shanghai has entered its second phase of construction after the first phase was completed in less than one year.
China’s State Council announced a two-year extension of the “new energy vehicle (NEV)” subsidy and tax exemption that would initially expire at the end of this year.
A WeChat mini program that allows users to transfer money from WeChat Pay to QQ Wallet has been officially launched, QQ Wallet announced on Tuesday.
In early 2019, Xiaomi decided to veer away from a smartphone-centric development strategy and increase its investment in AIoT.
China’s biggest smartphone maker Huawei reported a 2019 revenue growth of 19.1% year-on-year to around $122 billion on Tuesday.
Granted a virtual banking license by Hong Kong Monetary Authority on May 9, 2019, AirStar Bank is expected to officially begin operating in July 2020.
Alibaba seeks to acquire shares from Yunda’s controlling shareholders, Nie Tengyun and Chen Liying, who own 52.19% of Yunda from their wholly-owned company.
On March 25, several Pinduoduo employees stated on social media that Taobao implemented a so-called “risk control” strategy against them by blocking them from their platform.
Being in China, we have been quarantined for almost two months and are now witnessing social and economic activities resuming slowly, bit by bit, in our hometown Beijing.
Xiaomi seems to have entered the short-video field with its new app “Xi Gua Pi,” according to the official WeChat account Tech Planet.
Bilibili Esports has taken the place of Banana Culture as the new Chinese production partner for Activision Blizzard’s Overwatch League, sources told Pandaily.
AI, Big Data, Telematics and Logistics services caught investors’ attention and raised significant funds, hinting at a bright future for such services in the digitizing world.
Chinese e-commerce platform Pinduoduo and household appliance giant GOME Retail Holdings will hold a Super Brand Day on March 31