Pandaily's Digest #20220411
NIO Inc. announced on April 9 that due to domestic COVID-19 outbreaks, its supply chain partners in Shanghai, Jilin, Jiangsu and other locations have temporarily halted operations.
NIO Suspends Complete Vehicle Production Due to Outbreak
Chinese new energy vehicle firm NIO Inc. announced on April 9 that due to domestic COVID-19 outbreaks, its supply chain partners in Shanghai, Jilin, Jiangsu and other locations have temporarily halted operations. As a result, NIO has suspended its production of complete vehicles.
Nasdaq: EV Firm Faraday Future Noncompliant With Listing Rules
California-based electric vehicle (EV) startup Faraday Future announced on April 7 that it received a notice from the Nasdaq Stock Exchange on April 4, claiming that its delay in submitting a 2021 financial report (10-K form) violated terms for listing. If Faraday Future intends to remain a listed company, the exchange requires it to meet compliance standards before April 19.
China NFT Weekly: Secondary Market for Digital Collectibles
Digestible news on the latest developments across the fields of NFTs, blockchain and metaverse in China, compiled for you every week by Pandaily.
This week: Chinese metaverse infrastructure startup Xmov receives $130 million in funding, Shandong Television pursues NFT and metaverse projects, Hong Kong fencing-themed NFT project partners with local Bored Ape collectors, and more.
KurateDAO: It’s Time to Redefine Creators
It has been a consensus that the creator economy will be reformed and revolutionized during the era of Web3. Most creator-economy-related projects are now focusing on production. For example, platforms such as Euterpe and Rocki want to benefit music creators while another platform, Mirror, wants to help writers with their finances.
Alibaba’s Ele.me, Hema Fresh and Cainiao Send 3,000 Frontline Workers to Aid Shanghai Lockdown
Lockdowns in the metropolis of Shanghai are continuing as officials work to curb a local outbreak of COVID-19. Amid the challenging situation, Chinese internet technology giant Alibaba announced Friday that its food delivery platform Ele.me, supermarket chain RT-Mart, grocery e-commerce platform Hema Fresh and express delivery platform Cainiao have actively organized qualified local frontline workers and mobilized staff from other places to ensure Shanghai’s supply and distribution of goods. In the near future, a total of 3,000 workers will be gathered in Shanghai to help.
EV Maker BYD to Open Fifth Vehicle Production Base in China
The latest addition to Chinese EV maker BYD’s vehicle manufacturing operations will be officially opened at the Fuzhou Industrial Park on April 15th, local media outlet Kuaikeji reported on Friday. The plant will mark the fifth of such plants in China.
Q&A Community Zhihu Passes Hearing before IPO on HKEx
According to HKEx documents released on Friday, Chinese online Q&A platform Zhihu passed the required hearing before its IPO debut. The IPO underwriters will be Credit Suisse, JPMorgan Chase & Co, CICC and CMB International.
Huawei Nova 10 Series to Be Released in June, Rumors Say
On Friday, a well-known digital blogger on Weibo said that Huawei’s Nova 10 series will be released in June, but will only support the 4G network.
Huawei has launched a number of 4G smartphones in the past year or so. Models equipped with the Snapdragon 888 or Kirin 9000 can only support 4G networks.
Retired Property Magnate Wang Shi Files Hong Kong Listing Application for Destone Acquisition
Destone Acquisition, a special purpose acquisition company (SPAC) with backing from Wang Shi, the founder of major Chinese property developer Vanke, on April 8 formally submitted an application for listing on the Hong Kong Stock Exchange (HKEx).
Chinese Regulators to Strengthen Requirements for New Energy Vehicle Firms
Five Chinese government bodies, including the Ministry of Industry and Information Technology and the State Administration for Market Regulation, issued a joint opinion on Friday, calling for further strengthening of safety systems for new energy vehicle companies.