Pandaily's Digest #20220124
Alibaba and ByteDance's interest-oriented social apps, Chinese auto services platform Tuhu to stage Hong Kong IPO, New Oriental expects huge losses after China's private tutoring crackdown, and more.
Alibaba and ByteDance Launch Interest-Oriented Social Apps
Taobao, an online shopping platform owned by Chinese internet giant Alibaba, recently launched an interest-oriented community app called "Yousha" (友啥 Yǒu Shá).
Chinese Auto Services Platform Tuhu Gears Up for Hong Kong IPO
Automobile service platform Tuhu submitted its prospectus on Monday at the Hong Kong Stock Exchange (HKEx), with Goldman Sachs, CICC, Bank of America and UBS as co-sponsors.
IDG Capital and Hong Kong’s Towngas Set Up $1.6 Billion Zero-Carbon Tech Fund
The Hong Kong and China Gas Group (Towngas) and IDG Capital jointly announced the establishment of a zero-carbon technology investment fund on Monday, with a total scale of 10 billion yuan ($1.6 billion).
Tencent Awards Shares Worth HK$166,000 to Over 20,000 Employees
Tencent Holdings Ltd. announced on Friday at the Hong Kong Stock Exchange (HKEx) that it would grant a total of 8,004,807 award shares to at least 22,800 staff members.
Virtual Entertainment Platform Burning Galaxy Obtains $10 Million in A-Round Financing
Burning Galaxy, a virtual interactive entertainment platform, recently announced its completion of an A round of financing worth $10 million, led exclusively by Matrix Partners.
JD Logistics Distributes 20,000 New Energy Vehicles Across China
JD Logistics, the shipping arm of Chinese e-commerce giant JD.com, announced on January 22 that at present, it has distributed about 20,000 new energy vehicles in more than 50 cities across the country.
New Oriental Expects $800-$900 Million in Losses, June-Nov 2021
Chinese private tutoring giant New Oriental announced on Friday that its net losses in the six-month period ended November 30, 2021 were expected to total $800-900 million.
Geely and Renault Sign Agreement for Joint Cooperation in South Korea
Renault and Geely have signed an agreement to collaborate in bringing fuel-efficient hybrid electric vehicles and internal combustion engine models to the South Korean market, as well as for export sales.
Tencent Music Entertainment Reshuffles, Involving QQ Music and WeSing
Tencent Music Entertainment Group (TME) issued an announcement on Thursday to adjust the organizational structure of two of its business units, QQ Music and WeSing.
Xiaomi Invests in Semiconductor Corp Chemsemi
On Wednesday, Chemsemi Corp made a registration change with the Industrial and Commercial Administration, adding Hubei Xiaomi Changjiang Industrial Investment Fund Management Co., Ltd., and other shareholders.
