Alibaba Group announced its financial results for the first quarter of the 2020 fiscal year ended June 30, 2019. The Chinese tech behemoth had a strong quarter across the board, beating estimates on revenue and earnings despite the uncertain market conditions due to the US-China trade tensions.
On August 13, Huawei confirmed that it has started research on 6G networks in Ottawa, Canada, according to Canadian media outlet The Logic.
On August 15, Lenovo released a financial report for the first fiscal quarter of the 2019/20 fiscal year. Lenovo Group’s performance had a remarkable start.
The Chinese internet value added services provider Tencent announced its unaudited consolidated results for the second quarter and first half year of 2019 ended June 30, 2019.
Benefitting from the expansion of its user base, Huya, a leading game live streaming platform in China, continued gaining profits for the seventh consecutive quarter, according to its newly released earnings report in the second quarter of 2019.
Chinese e-commerce giant Alibaba is in talks with NetEase to acquire its cross-border e-commerce platform Kaola. Once the two agree on final details, Kaola would merge with Alibaba’s cross-border arm Tmall, according to LatePost on Aug. 14.
JD.com, China’s e-commerce giant and retail infrastructure service provider, saw positive results from its second quarter of 2019, according to the newest earnings report released on Aug. 13.
During the third conference of online literature in Beijing from Aug. 9 to 11, the AI translation system of funstory.ai took the breaths of foreign readers away with its capabilities of monitoring, capturing, translating and publishing copyrighted Chinese novels.
Tencent Music Entertainment Group, or TME, reported their second quarter 2019 financial results.
On Aug. 13, Chinese EV maker NIO saw its stock close at $3.05, down 2.56%, a day before the company released its July delivery data indicating that only 837 new vehicles were delivered, slumping 37.5% from the previous month.
Mu Changchun, deputy director of the PBOC’s payments department, said at an event held by China Finance 40 Forum over the weekend that the bank’s own cryptocurrency is “close to being out.”
The tech industry is used to clashes between corporate rivals. Major conflicts between corporate titans usually result in the emergence of a victorious monopoly like Google, or Facebook.
Chinese Quora-like website Zhihu completed a $450 million F-round funding led by popular Chinese short video platform Kuaishou and internet giant Baidu today, according to 36Kr.
Following the unveiling of its home-grown operating system Harmony OS and a smart television under its sub-brand, Honor, Chinese telecommunications equipment giant Huawei Technologies revealed a new augmented reality (AR) and virtual reality (VR) services platform to help people better understand the world around them.
Due to the large number of mobile users and short video’s virus spread on social media, short video industry is seeing booming growth in China.