Pandaily's Digest | Feb 9, 2024
Editor's note: Zhang Nan, CEO of Douyin Group, officially announced her resignation as Group CEO on WeChat, and will focus on the development of the Bytedance product CapCut in the future.
Zhang Nan Resigns as CEO of Douyin Group to Focus on ByteDance’s CapCut
On February 7, Zhang Nan, CEO of Douyin Group, officially announced her resignation as Group CEO on WeChat, and will focus on the development of the Bytedance product CapCut in the future. Link
Headlines from China
Apple Vision Pro May Be Released in China As Early As May, Possibly with A Name Change
According to the latest supply chain news, this device will be available for sale in the Chinese market as early as April, with a deadline no later than May. Link
Ride-hailing App Dida Plans Hong Kong IPO Amid Market Challenges
Dida has made four attempts so far to apply for an IPO in Hong Kong and has garnered the support of several renowned investment firms, including NIO Capital and IDG. Link
Lidar Manufacturer Hesai Technology Decides to Sue US Department of Defense
Lidar manufacturer Hesai Technology strongly disagrees with the decision by the US Department of Defense to include them on the "Chinese military companies" list. They plan to sue the US Department of Defense to protect their legal rights. Link
Alibaba Will Gradually Withdraw from Traditional Brick-and-Mortar Retail Industry
Alibaba is considering exiting non-core traditional brick-and-mortar retail businesses. However, given the current market conditions, it may take time to realize this exit. Link
News You Shouldn’t Miss
Xiaomi’s Impending Layoffs and Compensation Strategy Spark Employee Complaints
Xiaomi employees have corroborated the layoff rumors, criticizing the company's compensation strategy as a tactless way to avoid paying annual bonuses. Link
BYD’s Self-Developed Urban NOA Is Expected to Be Launched in March
The first batch of BYD's urban NOA (navigate on autopilot) system may be launched in late March. Link
Chairman of the China Securities Regulatory Commission Dismissed
Yi Huiman was dismissed as the Chairman of the China Securities Regulatory Commission, following a significant downturn in the Chinese stock market in the past week. Link
iFlytek Aims to Match GPT-4 Turbo’s Performance with Upgrades to Spark Model in 2024
Liu Qingfeng, Chairman of iFlytek, announced plans for significant upgrades to their Spark large model. The goal is to reach the current performance level of OpenAI's GPT4-Turbo by the first half of the year. Link
OPPO Reno 11F to be Released This Year
According to currently available leaks, the OPPO Reno11 F will feature a 6.7-inch AMOLED flat screen with an FHD+ resolution and a refresh rate of up to 120Hz. It also supports under-display fingerprint recognition. Link
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