ByteDance Denies Shutting Down VR Business of PICO
PICO is currently operating normally, and ByteDance will also continue to invest in XR business for the long term.
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China VC Weekly: Autonomous Driving, AR and Gaming
In last week’s VC news, General Motors invests in Chinese autonomous driving startup Momenta, Nreal raises new funds for international expansion, NetEase invests in game publisher Kepler Interactive.
9/28/20213 min read
After Financial Fraud, Luckin Reportedly Achieves Positive Cash Flow Per Store in July
Luckin Coffee Inc. reportedly achieved positive cash flow per store in July, except for roughly 300 stores located at universities that have been closed due to the COVID-19 pandemic.
8/11/20202 min read
Huawei to Distribute Dividends to Employees at $0.25 Per Share
Chinese tech giant Huawei has reportedly announced its stock dividend data for 2021 at the end of January, showing an estimated 1.58 yuan ($0.25) per share.
2/7/20222 min read
Bilibili Responds to HR Worker Slandering Core Users
A Bilibili HR worker previously called the platform's core users "losers in life." On August 2, Bilibili officially responded, saying that after internal investigation, the HR interviewer had been dismissed at the end of last year.
8/3/20223 min read
Private Traffic Solutions Provider Tanma Receives $30 Million in B+ Round Financing
On Tuesday, Tanma Social Customer Relationship Management (SCRM) announced it had raised $30 million in B+ round financing.
11/23/20212 min read
AR Tech Firm Nreal Secures $60M in Round C+ Financing Led by Alibaba
Nreal, an augmented reality (AR) technology company, announced on Wednesday that it has completed a round C+ of financing totaling $60 million, led by Alibaba Group.
3/30/20222 min read
For First Time, China’s Tsinghua University Ranks Top 20 in Times List
Tsinghua University has become the first Asian university to break into the top 20 list since the current methodology was launched in 2011, the latest Times Higher Education list showed.
9/3/20203 min read
Chinese Grocery Platform Missfresh Unveils First Financial Report Since IPO
On August 26th, Missfresh released its first financial report after its U.S. listing. The report showed that, in the second quarter of 2021, its total net revenues reached 1.89 billion yuan, representing a 40.7% year-on-year increase.
8/30/20212 min read
The Entrepreneurial Boom in China Sparked by ChatGPT Welcomes New Members
ChatGPT is sparking an entrepreneurial movement in China, attracting a steady stream of new members. Some of them come from major companies such as Alibaba, Kuaishou, Bytedance, Tencent and others.
Spy Photos of XPeng's New SUV Leaked
Chinese automotive industry blogger nicknamed "Auto Shooter Arui" said on Thursday that he had taken a group of covert road test photos of XPeng's new vehicle model. This model is positioned as a medium-sized SUV.
5/27/20222 min read
Chinese Coronavirus Vaccines Spread Abroad
On Dec.6, Wang Junzhi said during a Coronavirus Vaccine Development Conference that “Breaking news will be announced within the coming weeks and 600 million inactivated vaccines (killed virus) will go public within this year.”