Pandaily's Digest #20210526
Tesla builds data center, Xiaomi removed from US Blacklist, Huawei to launch HarmonyOS, Honor 50 series powered by Snapdragon chipset to release in June, Kuaishou's financial results, and more.
Tesla Builds Data Center in China Amid Increasing Privacy Concerns
US electric vehicle maker Tesla on Tuesday said it has set up a data center in China to store local user information as it ramps up efforts to alleviate concerns regarding privacy and customer data collection.
China VC Weekly: New Funds and Edtech
In last week’s China VC news, Meridian Capital announces the closing of its 2.12 billion yuan Fund VI, Zhangmen submits documents for a New York IPO, and China Merchants Bank joins hands with blockchain developer Nervos Foundation.
Li Auto Unveils New Version of Li ONE SUV with Range of 1080 Kilometers
Chinese electric vehicle (EV) maker Li Auto on Tuesday launched the new 2021 Li ONE, a plug-in hybrid luxury SUV and currently the start-up's only model, adding momentum to its efforts to stay competitive in the country’s crowded EV market.
US Formally Removes Xiaomi From Blacklist
On May 25, the US District Court for the District of Columbia issued a final judgment regarding Chinese electronics company Xiaomi’s previous designation as a “Communist Chinese Military Company” (CCMC).
Huawei to Hold Launch Event for HarmonyOS on June 2
Huawei announced its plans to hold a formal event for the launch of its HarmonyOS on June 2. The company’s proprietary operating system, which was previously only used in smart displays, wearable devices and other products, might be implemented in other products.
Tencent-backed Recruitment App Boss Zhipin Files for US IPO
Kanzhun Limited, operator of mobile recruitment app Boss Zhipin, on Friday filed privately for an IPO with the US Securities and Exchange Commission. The firm is looking to list the app on the Nasdaq under the ticker symbol “BZ,” according to its preliminary prospectus. No pricing terms were disclosed.
Crypto Miners Huobi Mall and BTC.TOP Halt China Business Amid Heightened Regulatory Clampdown
Chinese cryptocurrency miners Huobi Mall and BTC.TOP announced on Sunday that they have suspended their operations on mainland China after the country escalated its crackdown on bitcoin mining and trading activities, contributing to a slump in the cryptocurrency markets.
Honor 50 Series to Launch in June with Qualcomm’s New Snapdragon 778G Chipset
Chinese budget smartphone brand Honor has announced that its upcoming Honor 50 series will be the first phone to be powered by Qualcomm’s new Snapdragon 778G 5G chipset.
ByteDance’s Rival Kuaishou Shares Slide as Live-streaming Revenue Drops and Losses Widen
Kuaishou Technology, the operator of the second most popular short-video platform after Douyin, saw its stock tumble as much as 11.6% on Tuesday after the company reported a 7.3 billion yuan ($1.14 billion) loss the previous day.