Pandaily's Digest #20220427
ByteDance has appointed Julie Gao from international law firm Skadden as its new chief financial officer (CFO). Gao previously cooperated with ByteDance in acquisition and financing projects.
ByteDance Appoints Lawyer Julie Gao as New Chief Financial Officer
TikTok-owner ByteDance has appointed Julie Gao from international law firm Skadden as its new chief financial officer (CFO), according to an internal memo sent by ByteDance chief executive Liang Rubo on Monday. Gao will be based in Hong Kong and Singapore once she joins ByteDance.
In November last year, ByteDance adjusted the organizational structure of the company. After TikTok CEO Shou Zi Chew stepped down as CFO, the position was left vacant for five months.
Drone Firm DJI Halts Business in Ukraine and Russia
Shenzhen-based drone developer DJI announced on Tuesday that the company is internally reassessing compliance requirements in various jurisdictions around the world. Pending the current review, DJI will temporarily suspend all business activities in Russia and Ukraine.
Tesla Announces $4.65B in Q1 Revenue From China
According to information disclosed by Tesla to the United States Securities and Exchange Commission on Monday, the electric vehicle firm’s revenue in China in the first quarter this year totaled $4.65 billion, an increase of about 53% year-on-year compared with $3.04 billion in the same period last year.
NetEase Founder Steps down as Director of Media Subsidiary
William Ding, founder of tech giant NetEase, has withdrawn from his position as legal representative, general manager and director of Beijing NetEase Media Co., Ltd., a subsidiary of NetEase. Li Li, CEO of NetEase Media will take over Ding’s position.
BOE Reportedly to Supply OLED Panels for iPhone 14
On Tuesday, CINNO reported that Apple had signed an agreement at the beginning of April regarding OLED panels valued at 50 million yuan ($7.6 million) with Chinese display maker BOE. Under the arrangement, BOE will provide display panels for the upcoming iPhone 14 starting in June.
China Game Live Streaming Platforms Huya and Douyu Respond to Layoff Rumors
Huya and Douyu, two leading game live-streaming platforms in China, are reportedly carrying out internal layoffs. According to anonymous sources cited by domestic media outlets, Huya’s overseas business – Nimo TV intends to cease operations in regions like Brazil and some other areas, which will result in layoffs. Douyu is reported to cut 30 percent of its employees that mainly focus on game business development and streamer agents.
NetEase Cloud Music Sues Tencent Music for Alleged Unfair Competition
The music unit of Chinese internet technology company NetEase said Wednesday that it has initiated legal proceedings against Tencent Music Entertainment – including QQ Music, Kuwo Music, Kugou Music and other products – alleging unfair competition.
Honor CEO George Zhao Denies Rumors of Withdrawal From Top Posts
Media reports emerged Wednesday suggesting that George Zhao, the CEO of major Chinese smartphone company Honor, was stepping down as General Manager and a member of the board. In addition, Zhang Jing, Peng Qiu’en and many other executives were rumored to be withdrawing from the company, with only Chairman Wan Biao remaining as a top employee. Regarding the news, Honor has declared that this is false information.
Photos and Specs of New OnePlus Smartphone Leaked
On Tuesday, Chinese web users found that a new OnePlus smartphone model named “PGZ110” appeared on the website of TENAA, China’s national telecommunications certification authority. The new model features a 6.59-inch FHD+ resolution LCD display with a high refresh rate and a built-in large single battery cell. The device’s size is 164.3 x 75.8×8.7 mm.
China VC Weekly: Sequoia Invests in Fashion and More
In last week’s VC news, robotics reaps funding, Sequoia China takes on French fashion, tourism tries again, live-streaming attracts funding, and more.
