On November 16, Tencent released its financial report for the third quarter of 2022, and announced its decision to distribute most of its shares in Meituan, which will be completed in March next year. Tencent President Martin Lau has resigned as a non-executive director of Meituan.
Atour Lifestyle, a leading Chinese hotel chain, submitted its prospectus to the US Securities and Exchange Commission on November 7, with plans to officially list on the Nasdaq under the stock code "ATAT" on November 14.
Tencent launched a public hotspot sharing software several years ago called Tencent WiFi Manager, allowing users to quickly connect to public wireless networks without a password. On November 5, the firm's software team announced that it will officially stop services from 0:00 on December 1.
Reports emerged recently claiming that Chinese tech giant Alibaba and state-owned China Telecom signed a strategic cooperation agreement on November 2. However, China Telecom stated on November 3 that this news is totally false.
According to an official document released on October 27 by China's State Administration for Market Regulation (SAMR), internet giant Tencent and state-owned telecommunications operator China Unicom have gained unconditional approval to establish a joint venture following the completion of a review on October 18.
Since the beginning of the year, many Chinese internet giants such as ByteDance, Meituan and JD.com have launched new part-time job platforms in an attempt to further reduce their operating costs.
Chinese food delivery giant Meituan was reportedly preparing a new project for the Hong Kong market, and a recent recruitment notice has indirectly verified the rumor that it is about to explore Hong Kong's food delivery market.
Chinese video content platform Bilibili on October 14 officially launched a new online shopping function within the livestreaming part of its homepage, ahead of the country's popular "Double 11" shopping festival.
European enterprises are increasing their investment in China one after another. In the field of automobile manufacturing, the increasing pace of foreign investment is more apparent.
According to data released by the China Passenger Car Association, the cumulative retail share of Chinese car brands in the first three quarters of this year was 47.0%, up 7.5% year-on-year. International luxury brands and joint ventures are now showing downward trends in China.
On October 11, Meituan Select, a community group buying platform under Chinese tech firm Meituan, adjusted its brand positioning to a "supermarket with next-day delivery services."
On October 12, Tencent’s share price fell below HK$250, hitting a new low since November 2018. It fell more than 60% from its historical high at the beginning of 2021 and now only has a market value of only HK$2.43 trillion.
ByteDance subsidiary Douyin Group launched a new logo on October 12, and its account avatars on Douyin, TikTok's sister app for mainland China, and on its official WeChat account have been replaced with new ones.
With its high price of 6,999 yuan ($974), and no major updates from the previous generation in terms of configuration and appearance, the iPhone 14 Plus has set records for the fastest price reductions in China, arousing lively discussion.
Fintech platform Airwallex on October 11 announced that it has recently closed E2 Series financing, garnering $100 million. Its total funding amount increased to more than $900 million, with the same $5.5 billion valuation.
TikTok parent company ByteDance reportedly achieved revenue of $61.7 billion in 2021, an increase of 80% year-on-year. Meanwhile, net losses reached an astonishing $84.9 billion.
Device as a service (DaaS) provider Bear Rental's parent company, LX Technology, passed a hearing for the Hong Kong Stock Exchange on October 7, with Haitong International Securities Group serving as the exclusive sponsor.