tech giants Archives - Page 2 of 15

JD.com to Cut Executive Salary by 10-20%

Richard Liu, the founder of Chinese e-commerce giant JD.com, announced in an email to all employees on November 22 that starting from January 1, 2023, the cash salary of senior managers will be reduced by between 10% and 20%.

Alibaba Delays Primary Hong Kong Listing as Revenue Growth Slows

Hangzhou-based internet giant Alibaba stated on November 17 that it will not complete a primary listing in Hong Kong before the end of the year as initially planned. This delay comes as the firm struggles with slowing growth at home.

Alipay Now Accesses Huawei’s HarmonyOS Ecology

At the 2022 Huawei Developer Conference held on November 4, the Chinese tech giant announced that it will release the HarmonyOS 4 next year and that Alipay, an online payment platform, has been officially connected to the HarmonyOS Ecology.

Tencent Denies Rumors Concerning China Mobile Taking Stake

On October 24, news emerged that China Mobile, a multimedia service provider through its nationwide mobile telecommunications network, might take a stake in Chinese tech giant Tencent, which was subsequently denied by Tencent.

Huawei Appoints New Presidents for Carrier and Enterprise BGs

After Ryan Ding, former Deputy Chairman of Huawei's supervisory board and President of both the Enterprise and Carrier BGs, passed away on October 7 due to a sudden illness, the tech giant has launched a new round of personnel adjustments.

ByteDance Starts Stock Option Buyback at $155 Per Share, 9% Higher Than Last Round

According to an internal ByteDance email on October 12, the company has started a new round of stock option buybacks at a price of $155 per share, which is about 9% higher than the previous round of buybacks.

Tencent Share Price Falls Below HK$250, A New Low

On October 12, Tencent’s share price fell below HK$250, hitting a new low since November 2018. It fell more than 60% from its historical high at the beginning of 2021 and now only has a market value of only HK$2.43 trillion.

ByteDance’s Douyin Group Launches New Logo

ByteDance subsidiary Douyin Group launched a new logo on October 12, and its account avatars on Douyin, TikTok's sister app for mainland China, and on its official WeChat account have been replaced with new ones.

Report: ByteDance Did Not Lose $84.9B in 2021 as Claimed

TikTok parent company ByteDance reportedly achieved revenue of $61.7 billion in 2021, an increase of 80% year-on-year. Meanwhile, net losses reached an astonishing $84.9 billion.

Xiaomi Co-Founder Steps Down as Chairman of Financial Arm

Xiaomi recently announced in an internal email that it appointed Alain Lam, vice president and CFO of the group, to serve as the chairman of Airstar Digital Technology, the financial arm of the group.

Alibaba Kicks Off Annual Philanthropy Event With New Interaction Channels

Alibaba Group started its sixth annual Philanthropy Week on Tuesday with a series of online and offline initiatives across its businesses and new ways for the public to participate.

Tencent Responds to Reports of $14.5B Stock Divestment Plan

After Tencent clarified rumors that it will sell all or most of its shares in Meituan, there are now market reports that the Shenzhen-based tech giant plans to reduce its stock investments in listed companies by 100 billion yuan ($14.49 billion) this year.