Industry Archives - Page 15 of 316

Meituan Co-founder and AI Startup Founder Wang Huiwen Steps Down Due to Health Issues

Wang Huiwen, the co-founder of Meituan, China's leading e-commerce platform for services, has stepped down from the company's board of directors due to health reasons.

Tencent Applies for New Barcode of Switch Controller with Chinese Version Color Scheme

On June 24th, Tencent applied for new barcodes for the Chinese version of the Switch Joy-Con controllers in new colors including light purple/green and light pink/yellow.

Daniel Zhang May Focus on Cloud and Step Down as CEO of Alibaba

It is speculated that Daniel Zhang, the highest-ranking executive, may shift his focus to the development of Alibaba Cloud and step down as Chairman and CEO of the group.

Electric Vehicle Company BYTON Files for Bankruptcy

On June 18th, it was reported that two related companies of BYTON, an electric vehicle brand, have filed for bankruptcy.

Baidu Launches Commercial Fully Driverless Ride-Hailing Service in Shenzhen

Chinese tech giant Baidu has obtained licensing for commercial operation of its fully driverless ride-hailing service in Shenzhen.

Microsoft Research Asia Refutes Rumors of Relocating from China to Canada

BEIJING - June 19, 2023 - Microsoft Research Asia (MSRA), Microsoft's only research institution in China, has denied rumors that it plans to leave China and move to Vancouver, Canada.

Tencent’s Robot Dog Max Can Now Imitate Real Dog After Upgrading

On June 14th, Tencent's self-developed multimodal quadruped robot "Robot Dog Max" was upgraded again.

Li Xiang: Li Auto Poised to Outpace BBA in Sales with L6 Delivery Next Year

On June 13, Li Xiang's EV company, Li Auto, witnessed a record-breaking weekly sales volume, reaching 8,400 units in the 24th week of 2023 (June 5-11).

Didi Launches Express Delivery Service in Over 200 Cities

On June 13, Didi Chuxing, a leading ride-hailing platform, introduced a new express delivery service called Didi Express. The platform has integrated Dada Express, Flash Delivery, and UU Errands to provide immediate delivery of small items.

ByteDance and Alibaba Place Massive GPU Orders with NVIDIA, Fueling the AI Race

Major Chinese internet companies that have a cloud computing business have placed substantial orders with NVIDIA following this year's Spring Festival.

iPhone 15 Series Starts Trial Production at Foxconn in Zhengzhou

According to reports, the iPhone 15 series has completed trial production at Foxconn and will be mass-produced at Foxconn in Zhengzhou before the end of this month.

SF Express in Talks to Acquire Stake in J&T Express, Amplifying International Growth Ambitions

SF Express, one of China's leading courier companies, is reportedly in negotiations to acquire a 1%-2% stake in J&T Express, a global delivery firm originated from Southeast Asia.

Sequoia China Stands Tall on Its Own as ‘HongShan’

The venture capital firm will be led by founder Neil Shen in China, and is one of two global units being separated from its U.S. counterpart to operate independently.

Apple Vision Pro Faces Potential Trademark Conflict with Huawei in China

Apple may face a naming controversy with its newly launched mixed reality (MR) headset, the Apple Vision Pro. Reports suggest it shares its name with a trademark registered by Huawei four years ago.

NIO Announces Price Reduction and Adjustments to Owner Benefits

On June 12, Chinese electric vehicle (EV) manufacturer NIO has announced a price adjustment across its entire range of vehicles and a change to the benefits for first-time car owners.

Tesla Encourages Chinese Suppliers to Build Factories in Mexico

According to a report by 36Kr, Tesla is said to be mobilizing numerous Chinese supply chain firms to establish factories in Mexico.

ByteDance’s Douyin Is Expanding Self-operated e-commerce Business

Douyin, the Chinese version of the global short-video app TikTok, is actively expanding its self-operated e-commerce business in preparation for the upcoming "618" shopping festival on June 18th.

The 10,000th Store of Luckin Coffee Opens

This marks the opening of Luckin Coffee's 10,000th store and has been a milestone event for the company since its founding six years ago. Over the past six years, Luckin has witnessed its shining moment with its listing on NASDAQ in 2019 but also suffered from financial fraud allegations and bankruptcy reorganization in April 2020.

Tencent Backs Large-Scale AI Models with Investment in MiniMax

Tencent has reportedly made its first investment in large-scale AI models, contributing to a new $250 million financing round for startup MiniMax, which values the firm at over $1.2 billion.

Tencent CEO Pony Ma’s WeChat Message Sparks Discussions on Social Media

A screenshot of a WeChat conversation involving Tencent CEO Pony Ma went viral today, trending on Weibo and sparking discussions among industry insiders and netizens alike. According to the chat record, Ma shared an article titled “Discussing Layoffs” in a WeChat group, and noted, “The challenges of the upcoming environment seem quite large, you should […]

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