COVID-19 pandemic Archives

BYD’s August Vehicle Sales Up 155% Annually

Shenzhen-based automotive firm BYD, which has recently faced reports of Warren Buffett's share reduction, released its latest sales data on September 2. In August, BYD's total sales reached a new high.

Tencent’s Q2 Disclosure a Mixed Blessing, Hoping to Defy Gravity in Shaky Market

Chinese internet giant Tencent logged its first-ever quarterly revenue fall along with declining net profit for the fourth consecutive quarter, according to its second-quarter 2022 results released on August 17.

Li Auto’s Q2 Losses Widen, Q3 Guidance Misses Expectations

Chinese electric vehicle startup Li Auto saw its losses widen in the second quarter of the year, according to its periodic fiscal disclosure on August 15, which also provided soft guidance for the third quarter.

China’s New Energy Vehicle Retail Sales to Reach 450,000 units in July

The China Passenger Car Association (CPCA) said on July 22 that according to the data of manufacturers' retail target survey and weekly sales trend in July, the retail sales volume of passenger cars in July is estimated to be 1.77 million units.

China Passenger Car Association Announces Sales Rank of NEVs in China in May

According to statistics released by the China Passenger Car Association Cars (CPCA) on Friday, the sales volume of domestic passenger cars reached 1.354 million units in May, down 16.9% year-on-year.

Shanghai Jiading District Launches Vehicle Purchase Subsidies

Though high-risk, lockdown and control areas are still under some number of restrictions, Shanghai has now become fully operational as of June 1st. The Jiading District of Shanghai today issued 12 policies to boost consumption throughout the city.

Back to Normal in a Few Days: Hema Fresh CEO Hou Yi

Shanghai is making every effort to accelerate its economic recovery. Hou Yi, CEO of Hema Fresh, said that nearly 80% of the company's stores have resumed online operations.

Shanghai Government Announces Action Plan for Economic Recovery

To coordinate COVID-19 control with economic development, the municipal government of Shanghai launched an action plan on Sunday to speed up economic recovery following weeks of extended lockdowns.

Wanda Film Plans to Build at Least 30 New Cinemas This Year

Wanda Film Holding, China’s leading cinema chain operator, held its 2021 online performance meeting on Wednesday, introducing details on its operations last year and on future plans amid the continuing pandemic.

Luckin Coffee Delivers First Quarterly Operating Profit Since Founding

Chinese beverage chain Luckin Coffee released its unaudited 2022 first quarter report on Tuesday, showing it achieved revenue of 2.4 billion yuan ($359.9 million) during the period.

Trip.com Chairman James Liang Suspended on Weibo

Chinese web users found on Monday that James Liang, the co-founder, former CEO and executive chairman of Trip.com Group Ltd., has been suspended on popular domestic social media site Weibo.

Starna Therapeutics Secures 150 Million Yuan in A-Round Financing

Starna Therapeutics, a Chinese firm focusing on the research and development of new mRNA drugs, recently announced the completion of round-A financing totaling 150 million yuan ($22.1 million).

Online Car-hailing Orders in China Decreases by 11.6% in April amid Covid Outbreak

The Ministry of Transport announced on Wednesday that China's online car-hailing supervision information exchange platform received a total of 476.02 million orders in April, down 11.6% from the previous month.

Tesla Shanghai Expects to Resume Pre-Lockdown Output in Mid-May

Tesla anticipates increasing the production capacity of its Shanghai Gigafactory to pre-lockdown levels around mid-May, but it has not disclosed specific target figures.

Battery Giant CATL’s Shanghai Plant Resumes Pre-lockdown Output

About 90% of employees of Contemporary Amperex Technology Co., Ltd. (CATL), the foremost leader of the power battery industry, returned to work at its Shanghai plant.

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