Pandaily Digest｜Mar 10, 2023
Editor's note: On March 9, JD.com released its fourth quarter and 2022 financial results. Despite improved profitability, its share price fell 11.28% to $41.68.
JD.com Sees Stock Price Drop 11% after Releasing Financial Report
On March 9, Chinese e-commerce giant JD.com released its financial results for the fourth quarter and the whole year of 2022. Although the report shows that its overall profitability has improved, its share price fell 11.28% to close at $41.68.Link
Headlines from China
Xiaomi Appoints Two Executives to Robotics Division
Xiaomi has appointed the new general manager and deputy general manager for the company’s Robotics Division, a subsidiary of the Mobile Phone Department, showing that Xiaomi attaches great importance to this innovative business, Jiemian News reported on March 9.Link
BYD Expands Business Scope into Motorcycles
Recent pictures of a motorcycle being tested by personnel working for BYD have been circulating around Chinese news outlets. The Economic Observer, a Chinese newspaper, reported that BYD has confirmed that it is developing motorcycles in partnership with another company.Link
CATL Annual Revenue Breaks $43B Mark for First Time
According to the annual report released by Chinese battery giant CATL on March 9, the company’s total operating income in 2022 exceeded 300 billion yuan ($43 billion) for the first time, reaching 328.59 billion yuan, up 152.1% year-on-year, and the company’s net profit was 30.73 billion yuan, up 92.9% year-on-year.Link
Xiaohongshu Bets on Livestreaming E-commerce to Promote Higher Profit
Xiaohongshu, a Chinese lifestyle-sharing platform, will upgrade its livestreaming business to an independent department, LatePost reported. The site features many reviews and users can post videos and pictures to show off their purchases.Link
Digital Freight Platform Logory Logistics Debuts on HKEx
Logory Logistics, a digital freight platform, was officially listed on the Hong Kong Stock Exchange on March 9. Following Full Truck Alliance’s listing in the US in 2021 and GOGOX’s listing in Hong Kong in 2022, Logory Logistics became the third freight platform in China to go public.Link
Shenzhen-Based Tagging Launches Social Product Integrating Digital Characters with ChatGPT
On March 8, Tagging, a Chinese metaverse social application developer, released an app based on ChatGPT technology – Tagging X GPT-3, which combines tags and digital characters. Users can label themselves with several tags and talk to digital characters in different tones.Link
Huawei Emphasizes Dominance of EV Brand AITO
On March 8, AITO, an electric vehicle brand jointly built by Huawei and Seres, used the new slogan, “Huawei AITO”, for the first time on social media platforms, showing a further emphasis on the close relationship between the brands.Link
BOE’s Supply of LTPO OLED Displays to Apple Confirmed in February
Chinese electronic components producer BOE obtained an order for Apple’s 6.1-inch iPhone 14 display last year, and this year it will continue to supply key components of the high-end iPhone series. Local media outlet Chinastarmarket reported on March 8 that BOE will provide Apple with OLED screens equipped with LTPO technology. Link
Li Auto Starts Construction of Super Charging Stations
With the imminent launch of pure electric vehicles, Li Auto has set itself the goal of building about 300 ultra-fast charging stations within the year, with about 10 stations already deployed on high-speed roadways. Link
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