Pandaily's Digest #220914
Three Chinese new energy vehicle enterprises, including NIO, XPeng and Li Auto, released their financial reports for the first half of 2022. NIO, XPeng and Li Auto together lose near $1.38B in H1.
Why Did NIO, XPeng and Li Auto Together Lose Nearly $1.38B in H1?
As of September 7, three leading Chinese new energy vehicle (NEV) enterprises, including NIO, XPeng Motors and Li Auto, had successively released their financial reports for the first half of 2022. During the period, NIO’s net loss reached 4.57 billion yuan ($658.7 million), XPeng Motors saw a net loss of 4.402 billion yuan ($634.5 million), while Li Auto recorded a net loss of 595 million yuan ($85.8 million). The combined losses of three firms amounted to nearly 9.6 billion yuan ($1.38 billion).
Bankruptcy-Haunted Missfresh Empties Products and User Balance in App
Nasdaq-listed Chinese retailer Missfresh seems to be on the verge of bankruptcy. On September 13, Chinese media outlet Sina Tech reported that all product information on the Missfresh app has been emptied out by the firm, and many user balances now display ‘0’. Regarding this issue, the company responded that there have been some failures in the system servers, and staff are making every effort to recover the data.
Alibaba Deploys Inclusive Technologies to Help Elderly and Visually Impaired Access Daily Services
Digitalization brings about a more convenient life for society, but the needs of elderly and disabled people are underserved from time to time, or even derailed from mainstream development. Alibaba says it is committed to narrowing the digital divide through scientific and technological innovation, such as by upgrading to barrier-free services, introducing AI to disease screening, as well as by taking care of the needs of vulnerable groups.
NetEase and Tencent Finally Get Green Light to Publish New Games in China
On the evening of September 13, China’s National Press and Publication Administration announced a new batch of approval numbers authorizing the release of new online games in the country. The latest list, which includes a total of 73 games, finally includes titles developed by leading game firms NetEase and Tencent.
From Project Galaxy to Galxe: Rebranding and Evolving
Project Galaxy announced on September 6 that it will be changing its name and logo to Galxe. According to Anne Ouellet, the firm’s CMO, “this rebrand… wasn’t merely a marketing move, but rather a natural progression and evolution. We are no longer a ‘project’ but rather a fully-fledged ecosystem within Web3.”
China-Made Airliner C919 to Be Delivered to China Eastern Airlines
On the morning of September 13, two C919 airliners with registration numbers B-001F and B-001J respectively took off from Shanghai Pudong International Airport about half an hour apart. The destination of the two planes was Beijing Capital International Airport. At 10:51 and 11:23 on the same day, the two planes landed. This is also the first time that C919 airliners have landed at the Capital Airport. Previously, in July this year, a C919 flew from Dongying Shengli Airport, Shandong Province, to Beijing Daxing International Airport, thus completing the first landing of this China-made commercial airliner in Beijing.
Few Chinese Companies Involved in Digital Collections Disclose Related Revenue
So far, a recorded 26 A-share listed companies in China have become involved in digital collections, the country’s version of NFTs. Among these firms, 12 have launched their own digital collection platforms, but only three have announced the revenue related to this innovative business, according to a report by Cailian Press on September 9.
XPeng’s Flying Car to Undergo Compliance Verification Test Flights
XPeng Motors’ flying car division, XPeng Aeroht, said on September 9 that its X2 smart electric flying car will be transported to Dubai to carry out compliance verification test flights. The company will showcase the product at GITEX GLOBAL, the largest technology event in Dubai, to be held from October 10 to October 14.
Apple Supplier Luxshare Precision Discloses US Investigation Findings
Luxshare Precision, a consumer electronics manufacturer and Apple supplier, announced on September 13 that the United States International Trade Commission’s investigation into the company has been closed without any material impact on the company’s production and operations. Affected by this news, its stock price rose more than 5% today.
Xiaomi Obtains Patent for Intelligent Identification of Traffic Lights
On September 13, Xiaomi Auto Technology Co., Ltd., a subsidiary of Chinese consumer tech firm Xiaomi, unveiled a patent entitled “Traffic Light Status Recognition Method, Device, Vehicle and Storage Medium.”
