Pandaily’s Digest #20220420
Tesla's Shanghai Gigafactory, which had been closed for nearly three weeks due to the pandemic, resumed work on Tuesday.
Tesla Shanghai Gigafactory Resumes Work
Xinhua News Agency learned from Tesla China that the company’s Shanghai Gigafactory, which had been closed for nearly three weeks due to the pandemic, had resumed work on Tuesday. At present, Tesla is making every effort to coordinate the upstream and downstream industrial chains of parts to support the resumption of production.
China Drugmaker Plunges After Wanda Director Doubts Covid Treatment Efficacy
The stock price of traditional Chinese medicine-maker Yiling Pharmaceutical plunged after Wang Sicong, founder of Prometheus Capital and director of Wanda Group, reposted a video on April 14 on Weibo that questioned whether the World Health Organization had ever recommended the firm’s Lianhua Qingwen capsules as Covid-19 treatment.
Ant Group-Backed MYbank to Cease Asset Transfers from Alipay
Ant Group-backed e-payment solution MYbank recently announced that it would gradually stop asset transfers from Alipay to MYbank due to regulatory changes.
If merchants need to withdraw their Alipay balance and transfer it to MYbank, they can withdraw it to their other bank card first and then transfer it from the bank card to their MYbank account. At present, merchants do not need to pay any fees if they have already registered a collection code to withdraw an Alipay balance to their bank cards.
NetEase’s Mobile Game Suspected of Publishing Paper in US Based on User Data
On April 17th, NetEase’s mobile game Dream Chaser: The Showbiz denied a recent report suspecting its role in publishing a paper in the US containing user data.
Dream Chaser: The Showbiz is a mobile game in which players take on the role of celebrities. Players make various expressions according to text prompts and then AI will migrate real-life expressions to game characters in real time, and judge whether players’ deduction is in place with one click. The game was developed by NetEase‘s Fuxi Lab.
Geely Settles Plug-in Hybrid EV Project in Zhejiang
The Linhai Municipal Government of Zhejiang Province announced on Monday that it had officially signed a cooperation agreement with Zhejiang Haoqing Automobile Manufacturing Co., Ltd., a subsidiary of Geely Holding Group. Geely officially settled the project of plug-in hybrid electric vehicle (PHEV) in the city.
IDG Capital Invests in Digital Information Management Platform Developer FlowUs
FlowUs, a one-stop digital information management SaaS software, announced on Tuesday that the company has obtained three consecutive rounds of financing worth tens of millions. The investment rounds were led by IDG Capital, Volcanics Venture and In Capital respectively.
BYD to Increase Investment in Leading Lithium Battery Company Shanshan Corporation
Chinese lithium battery materials maker Shanshan Corporation announced on Monday that it plans to win more investment from its four strategic investors through its wholly-owned subsidiary.
Additional investments in its subsidiary Shanghai Shanshan Lithium Battery Material Technology Co. Ltd. have been made by Wending Investment, BYD, Amperex Technology Limited (ATL) and the Kunlun Fund.
Chinese E-Commerce Platform Dmall Preparing for Hong Kong IPO
Chinese e-commerce platform Dmall is expected to submit an application this quarter for a public listing on the Hong Kong Stock Exchange (HKEx), local media outlet Photon Planet reported Tuesday, citing individuals familiar with the matter.
China VC Weekly: Robot Firms on Funding Streak
In last week’s VC news, Matrix Partners completed two weighty capital injections in computer chips and robots, sweeping robot company LeSheng Smart secured its Series A+ financing round, and more.
Meituan and Ele.me Launch Group Buying Food Delivery Services
As the COVID-19 pandemic has escalated recently in various parts of China, the practice of “group buying” various essential food products is surging. In Shanghai and other cities, many local e-commerce platforms have launched such services one after another. Under the arrangements, residents place orders, merchants produce meals and platform drivers deliver food all in bulk. The overall operation efficiency has been improved, playing a huge role in helping people in locked-down areas solve their food problems.
