Pandaily's Digest #20201125
Xiaomi Shows Strong Growth in 2020Q3, BlueCIty Announces Acquisition of Finka, and China Launches Chang'e-5 Mission
Xiaomi Shows Strong Growth Momentum in Q3 2020 Financial Report
Smartphone maker Xiaomi revealed strong growth momentum in the third quarter of 2020 and posted record high quarterly revenue of 72.2 billion yuan ($10.98 billion), according to its unaudited financial report announced Tuesday.
China Successfully Launches Chang’e-5 Mission to Retrieve Lunar Samples
China has successfully launched the Chang’e-5 space mission to collect lunar samples, making it the third country in the world to make such an attempt. If completed, this would be the first time that humans bring back rocks and dirt samples from the moon since the Soviet Union’s Luna 24 robotic probe in 1976.
Pinduoduo Launches Italy National Pavilion Offering High-quality Imported Products
On Nov. 21, Pinduoduo officially launched the “Italian National Pavilion”. Nearly 100 Italian wine and food products were represented at attractive prices, while Pinduoduo, together with the Italian Foreign Trade Commission (ITA), offered live streaming of wines.
Online LGBTQ Platform BlueCity Announces Acquisition of Gay Dating App Finka
Online LGBTQ platform BlueCity announced Wednesday that it has acquired Finka, a dating app for gay men in China, in a 240-million-yuan deal. The transaction is scheduled to close before mid-December.
JD Logistics Preparing for IPO Next Year? Estimated Valuation to be $40B
Supply chain and logistics services provider JD Logistics is said to be preparing for an initial public offering (IPO) next year with an estimated valuation of $40 billion, according to Reuter’s International Financing Review (IFR.)
China’s 5G Online Terminal Connections Surpass 100 million: Report
The 2020 China Internet Development Report was released on Nov. 23 in Wuzhen, Zhejiang Province, during the 2020 World Internet Conference, revealing the number of 5G online terminal connections exceeds 100 million.
Retailer MINISO Accelerates Expansion in Europe and Beyond
Lifestyle product retailer MINISO opened its 100th post-IPO store in Madrid on Nov.6, amidst industry-wide scaling back and closings. The opening in Madrid is the fourth in Spain this month alone, following a flurry of other European and global ribbon-cutting since the brand’s IPO in mid-October. Additional store openings are planned before the end of the year.