Tencent's Q2 Net Profit Jumps 33%, Video Account Usage Time Almost Doubles
Tencent's net profit in the second quarter increased by 33% year-on-year, and the usage time of video accounts nearly doubled.
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Kuaishou Adjusts E-Commerce and Commercialization Teams
Kuaishou's e-commerce and commercialization divisions are preparing for the upcoming Kuaishou November 6 (116) Shopping Festival, and the effect of this round of adjustments will also appear after the shopping event.
10/17/20223 min read
Tencent News Shuts Down Digital Collection Business
Tencent News will suspend the sales service of digital collections from July 1, 2022, due to the adjustment and transformation of the company's business model.
Tencent Wins Lawsuit Against Game Console Pirates
According to Tianyancha App, a commercial information inquiry platform, the first-instance judgment of trademark infringement dispute between Tencent and Guangzhou Ren Wo Xing Video Game Store was made public.
XPeng Motors Now Licensed to Test Autopilot in California
On Sept. 11, Dr. Gu Junli, vice president of Xpeng Motors, an electric car startup in China, announced in a keynote speech that the company has obtained a Calif...
9/12/20183 min read
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.
China Leads the World in Number of Unicorn Startups
Out of a total of 494 global unicorns, categorized by a valuation of over $1 billion, 206 were Chinese, compared to 203 from the United States, according to the latest Hurun Report on unicorn companies.
10/22/20192 min read
JD.com Reports Overall Growth in Second Quarter 2019
JD.com, China's e-commerce giant and retail infrastructure service provider, saw positive results from its second quarter of 2019, according to the newest earnings report released on Aug. 13.
8/14/20193 min read
Kuaishou to Issue 100 Shares to Each Eligible Employee After Spring Festival
Recently-listed short video company Kuaishou has confirmed on Feb. 8 that it will issue 100 shares to each eligible employee after the lunar Chinese New Year festival, according to Jiemian News.
2/9/20212 min read
Chinese Video Game Companies Saw Strong Revenue Increases in April
Chinese gaming companies recorded robust revenue growth on mobile platforms in April, as major players in the field roll out content updates for their existing games and launch new titles.
5/9/20202 min read
IntellectiveBio Exceeds $74M in Round-C Financing
Contract development and manufacturing organization (CDMO) IntellectiveBio announced its completion of round-C financing on August 5, with a total amount exceeding 500 million yuan ($74.1 million). This round was led by Gaorong Capital and CTS Capital.
8/5/20222 min read
Pinduoduo Rumored to Launch Live Streaming Feature
Shanghai-based e-commerce giant Pinduoduo is exploring adding a live function to their platform to augment the social nature of their business model.
11/26/20192 min read