Pandaily's Digest #20201120
Yasten Debuts on NYSE, China's Tourism Rebounds, and JOYY Rejects Muddy Water's Accusation.
Perfect Diary’s Parent Company Yasten Debuts on New York Markets, Shares Surge 75%
Yasten Holding, the parent company of popular Chinese makeup brand Perfect Diary, went public Thursday on the New York Stock Exchange (NYSE), becoming the first Chinese beauty group listed on the U.S. stock market, and shares surged 75% on the first day of its listing.
China’s Tourism on the Rebound, Themed Tours Prosper
While the Coronavirus continues its rampage through the rest of the world, China has kept new Covid-19 cases at exceptionally low levels with sweeping measures since March. Tourism in China has virtually recovered, and customized, themed and quality tours are on the rise, according to a recent report.
Pinduoduo Launches Mini Program to Crack Down on Fake Milk Formula
China’s second-largest online shopping platform Pinduoduo has launched a mini program on its app that will allow consumers to verify the authenticity of their baby formula products.
Joyy Rejects Fraud Claim by Research Firm, Citing Ignorance of China’s Live-stream Industry
Chinese social media and entertainment site Joyy Inc. rejected allegations of fraud by Muddy Waters Research, saying the report it published was full of “misinformation, erroneous statements and misleading conclusions.”
Futu Holdings Limited 2020 Q3 Unaudited Financial Report: Gross Profit Soars by 314.1%
Tech-driven online brokerage company Futu Holdings Limited (NASDAQ: FUTU) Thursday published its unaudited financial report for the third quarter ended Sept. 30, showing soaring gross profit and surging non-GAAP adjusted net income.
Vivo Launches OriginOS at 2020 Developer Conference
Vivo revealed its new Android operating system OriginOS at the 2020 Developer Conference. OriginOS offers an array of original features and different customization options. The conference was held at the Shenzhen World Exhibition & Convention Center.
FlashEx, Guazi.com and Jumei Called for Talks with Regulator about Violations
Chinese regulators found that intracity delivery service provider FlashEx (闪送), used car selling and buying platform Guazi.com, as well as cosmetics e-commerce platform Jumei (聚美优品) violated regulations in user data collection and imposed mandatory user authorization to acquire permission to use cameras and recorders, as well as collect users’ information such as their phone number.
TME Announces Strategic Partnership and Minority Equity Investment in Wave
NYSE-listed Tencent Music Entertainment Group (TME) announced a strategic partnership and minority equity investment in Wave, the market leader in interactive virtual entertainment experiences.
Bilibili Reveals Strong User Growth in Quarterly Financial Results
Leading online entertainment platform Bilibili Inc. (NASDAQ: BILI) announced Wednesday its unaudited financial results for the third quarter ending on Sept. 30, revealing strong user growth as well as a rise in revenue.
Joyy Shares Tumble 26% after Research Firm Calls it “a Multibillion-dollar Fraud”
Shares of Chinese social media and entertainment site Joyy Inc. plunged more than 26% after a research firm accused it of being a “multibillion-dollar fraud”.
K12 Education Gaint Zuoyebang Awarded Honorable Mention by World Economic Forum
Leading K12 online education platform Zuoyebang was awarded by the World Economic Forum an Honorable Mention for Excellence in Digital Disruption for its first annual New Champion Awards 2020 at the World Economic Forum’s inaugural Pioneers of Change Summit.
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