Pandaily's Digest #20210310
Baidu passes hearing for secondary listing in Hong Kong, IMAX China partners with Broadway Studios, Xpeng reports fourth-quarter 2020 revenues with future sedan models, and more.
Baidu Passes Hearing for Secondary Listing in Hong Kong
According to Hong Kong Stock Exchange documents, Baidu has passed the hearing for its secondary listing on the Hong Kong Stock Exchange. The news sent Baidu’s US stock to a nearly 6% surge before the market on March 9.
China VC Weekly: Batteries, Luxury and Healthcare
In this week’s edition of VC news, EV battery maker SVolt Energy Technology bags a hefty Series A round, luxury brand group Ushopal raises another $100 million to fund expansion plans, and healthcare investor OrbiMed closes a new Asia fund.
IMAX Signs Deal With Broadway Studios to Open Four New Theaters in Shanghai
Following the record-breaking box office earnings during the Spring Festival, IMAX’s Mainland China arm IMAX China and Broadway Studios have announced a new agreement.
Pinduoduo Partners with Midea to Offer A Million Customized Washing Machines
On March 8, Pinduoduo, a leading e-commerce platform in China with over 730 million users, established a partnership with Midea, the country’s largest consumer electronics brand.
Chinese Electric Vehicle Maker Xpeng Narrows Loss in Q4, Will Launch Second Sedan in June
Chinese electric vehicle (EV) startup Xpeng reported better-than-expected fourth-quarter 2020 revenues on Monday and said it will launch a second sedan model before the end of June this year.
Meitu Under Fire After Investing $40M in Crypto
On March 7, Xiamen-based app-maker Meitu announced it has purchased $22.1 million worth of Ethereum (ETH) and $17.9 million in Bitcoin (BTC) via open market transactions on March 5.
DJI Technology Remains Positive in its North America Operations Amid Ongoing Geopolitical Tensions
Despite being one of the most successful businesses operating in the US in the last ten years, Chinese drone hegemon DJI Technology is struggling in the market that it once dominated.
OnePlus 9 Series to Launch on March 23 with “Revamped” Camera System from Hasselblad Tie-up
OnePlus announced on Monday that its flagship OnePlus 9 series will launch globally on March 23, as well as a three-year partnership with Swedish camera maker Hasselblad to transform the devices’ camera systems.
Xiaomi Rumored to Unveil First Foldable Phone in April, Mi 10S Confirmed to Launch on March 10
Chinese smartphone maker Xiaomi could be launching its first foldable smartphone this year, as part of the Mi MIX series, according to multiple sources.