financing Archives

The Large-Scale Unicorn Company StepFun Has Completed Series B Financing

The large-scale unicorn company StepFun has completed its Series B financing, with a total financing amount reaching hundreds of millions of US dollars.

Polestar and Zeekr Integration Temporarily Halted

Polestar is much smaller than Lynk & Co, but compared to the integration between Lynk & Co and Zeekr, the merger between Polestar and Zeekr faces greater challenges and more internal disputes.

Hive Box Plans Hong Kong IPO: Accumulated Losses Over Three Years Exceed 3.7 Billion Yuan

Hive Box, a Chinese logistics company, officially submitted its prospectus to the Hong Kong Stock Exchange on August 30, with Huatai International serving as the sole sponsor.

Tencent Music Reports Significant Subscriber Growth and Revenue Boost in Q2 2024

TME reported a 33.1% year-over-year increase in net profit, reaching RMB1.79 billion (US$247 million).

Xpeng Announces Completion of SOP Delivery for Acquisition of DiDi’s Intelligent Car Development Business Assets

Per the agreement, Xpeng issued 4,636,447 Class A shares to DiDi, representing about 0.24% of the company's post-issue capital stock.

Kai-Fu Lee’s AI Startup, 01.AI, Completes Financing Round Raising Hundreds of Millions of Dollars

The AI unicorn company “01.AI," founded by Kai-Fu Lee, has completed a new round of financing, reaching hundreds of millions of dollars.

Moonshot AI Secures $300 Million in Latest Funding Round, Boosting Valuation to $3.3 Billion

Market rumors suggest that Tencent's $300 million investment in Chinese AI startup Moonshot AI has elevated its valuation to $3.3 billion.

Baichuan AI Completes 5 Billion RMB Series A Financing, Valuation Exceeds 20 Billion RMB

Baichuan AI has recently completed a Series A financing round, raising a total of 5 billion RMB.

Douyu Reports Q1 Revenue of 1.04 Billion RMB, a Year-on-Year Decrease of 29.9%

The number of mobile monthly active users decreased from 50.2 million in the same period last year to 45.3 million, and the average number of paying users also decreased from 4.5 million to 3.4 million.

Faraday Future Annual Report: “May Never Achieve or Maintain Profitability”

The annual report shows that in 2023, Faraday Future had revenue of $800,000 and a cost of sales of $43 million, both of which were zero in the same period of the previous year.

Xiaohongshu Denies Reports of $20 Billion Pre-IPO Financing Round

Xiaohongshu responded today by stating that reports about its latest financing round are not true.

Zhipu AI Completes A New Round of Financing

Zhipu AI has completed a new round of financing at the beginning of this year, with over 2000 ecosystem partners and more than 1000 large-scale model applications.

China’s Central Bank Enhances Mobile Payment Experience for Foreigners

Foreigners in China will see single transaction limits raised to $5,000 and annual transaction limits increased to $50,000.

Geely’s Luxury EV Brand Lotus Tech Receives Approval for Nasdaq Listing

Luxury electric vehicle manufacturer Lotus Technology Co., Ltd. - owned by Geely Group - recently received approval for its IPO filing from the China Securities Regulatory Commission.

China’s First EtherCAT-Enabled HPM6E00 Chip Completes Initial Verification

Shanghai-based HP Micro Semiconductor Technology Co., Ltd. has successfully completed the first phase of verification for its high-performance HPM6E00 chip, the first in China to feature an EtherCAT Slave Controller (ESC) authorized by Germany's Beckhoff.