Pandaily's Digest #20210714
HeyTea completed new financing round, Xpeng launched G3i smart SUV, Chinese video platform Bilibili experienced temporary inaccessibility, and more.
HeyTea Completes Financing Round Worth $500 Million, Raising Market Value to $9 Billion
Chinese milk tea chain HeyTea on Tuesday announced it has secured $500 million in new financing, led by IDG Capital, He Boquan, Longzhu Capital, Sequoia China, BA Capital, Tencent, Hillhouse Group, Coatue and other investors.
Zhang Jindong, Founder of Suning.com, Becomes Honorary Chairman
On Monday, Suning e-buy announced a board meeting decision that Zhang Jindong has resigned his title as Chairman of Suning e-buy but will continue to serve as the Honorary Chairman of the board of directors. In the meantime, Ren Jun will perform the duties of chairman temporarily before a new appointment is made.
Tesla’s Rival XPeng Launches G3i Smart SUV
Chinese smart electric vehicle company Xpeng on July 9 launched its refreshed G3i smart SUV, equipped with the most powerful intelligent in-car operating system and the strongest autonomous driving assistance system in its class, the company said in a statement.
OPPO Unveils Its First 6G White Paper, Focusing on AI-Cube Intelligent Networking
The OPPO Research Institute on Tuesday officially released its first 6G white paper – "6G AI-Cube Intelligent Networking" – looking ahead to the future of next-generation communications technology.
Chinese Authorities Unconditionally Approve Tencent’s Acquisition of Sogou Equity, Sogou’s Delisting to Enter Countdown
The official website of China's top antitrust regulator on Tuesday showed that Tencent's planned acquisition of shares in Sogou, the country's number three search engine, has gained unconditional approval.
The Culprit Behind Chinese School District Property Fever
While the Chinese motto “education changes fate” may have lost its validity among the rural population, for Chinese urban middle class, quality education is still the best possible way to climb the social ladder.
Tesla’s First China-Built Model Y Will Be Delivered to Europe in August
The first of Tesla's Model Y's made in China will be handed over to European customers in August, the German news agency SPA reported, citing an official Tesla communication. The vehicles will be exported from the Tesla factory in Shanghai.
Alibaba to Acquire Unisplendour Co. in Effort to Build up Cloud Computing Infrastructure
Alibaba Group Holding Ltd. and a Chinese state-owned company are considering bidding for a stake in Unisplendour Corporation Limited, a cloud computing infrastructure company, according to sources cited by Reuters. The stake could sell for up to $7.7 billion.
Chinese Audio and Video Creation Platform Bilibili Experiences Temporary Inaccessibility Due to Engine Room Failure
The web page and mobile terminal of Bilibili broke down Tuesday night, attracting wide attention from Chinese netizens. The company's share price dropped for a while due to this server failure.
Chinese Electronic Components Firm BOE Technology Achieves Record Profits in First Half of 2021
BOE, a Beijing-based provider of semiconductor display technology, products and services, on Tuesday evening released its semi-annual performance forecast, predicting a sharp improvement for the first half of the year.
Regulators Push to Close Loopholes in Chinese Cyberspace
A trio of China’s top regulatory bodies on Tuesday jointly published new rules aimed at patching up vulnerabilities that threaten businesses and consumers within the online ecosystem.
Tencent Buys Over 11 Million Shares in Meituan, Raising Nearly $400 Million and Acquiring a 17.2% Stake in the Firm
On the evening of July 13, Chinese delivery and e-commerce giant Meituan announced that all preconditions for the items contained in Tencent's subscription agreement had been reached. The estimated net proceeds from the deal are expected to be about $400 million.