What’s Behind Pinduoduo’s Ownership Change
Colin Zheng Huang, the founder of Chinese e-commerce giant Pinduoduo (PDD), has stepped down as CEO and reduced his stake in Pinduoduo stock to 29.4% from 43.3%.
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Cisco Rumored To Layoff Workers In Shanghai
Cisco, the American internet giant, is rumored to be laying off workers in its Chinese branch. According to insiders, “Right now there have been layoffs in Shanghai department.”
Geely Plans New Energy Vehicle Project in Haikou
The High Technology Industry Development Zone in Haikou, China's Hainan Province, signed a cooperation agreement on Wednesday with Geely Commercial Vehicle Group, planning to build a new energy vehicle project in the zone.
6/10/20222 min read
ByteDance's New Large Model, Doubao, Delivers Stellar Performance
Doubao made substantial strides in code capabilities, improving by around 50% compared to the previous generation model on the HumanEval and MBPP evaluation sets.
5/24/20242 min read
RoboSense and WeRide Reach Strategic Cooperation
Intelligent lidar firm RoboSense and WeRide, an L4 autonomous driving tech firm, announced a new strategic cooperation agreement on Friday.
6/13/20222 min read
7 Superstitions that Governed Chinese Internet Companies
It has been a dim period for internet companies with an overwhelming amount of twists and turns in a year. As the cold winter approaches, many resort to superst...
12/20/20188 min read
Tencent Confirms Death of Mao Xingyun, Employee at Company's TiMi F1 Studio
Recently, news emerged that an employee of Tencent in Shenzhen died unexpectedly. Tencent confirmed on Tuesday that Mao Xingyun, an employee of TiMi F1 Studio, passed away unexpectedly on December 11th.
12/14/20212 min read
Battery Maker CATL's Q1 Net Profit Dropped by 23.62% YoY
According to the recent report issued by Chinese battery giant CATL on Friday, in the first quarter of 2022, its revenue was 48.68 billion yuan, a year-on-year increase of 153.97%.
4/29/20222 min read
Huawei’s Intelligent Automotive Solution Business Unit Carries Out Major Organizational Restructuring
Huawei announced new personnel appointments for its Intelligent Automotive Solution Business Unit (IAS BU), showing position changes for several senior executives.
9/6/20212 min read
Alibaba Sells Part of Xpeng Stake, Reducing Shareholding to 7.5%
Alibaba Group announced on December 15th that it has sold a portion of its stake in Xpeng Motors, reducing its shareholding from 10.2% to 7.5%.
BYD Offers Glimpse of Seal Electric Sedan
After launching new models within its Han series, Chinese electric vehicle maker BYD has begun to generate interest in another sedan named "Seal," which is expected to be officially launched this month.
4/13/20222 min read
Beverage Firm Genki Forest to Build Sixth Jiangsu Factory
Chinese beverage brand Genki Forest announced on February 25 that its sixth self-built factory will be established in Taicang, Jiangsu Province, covering an area of 120 mu (19.8 acres).
2/28/20222 min read