Pandaily's Digest #20210219
Baidu Appoints Mobike Co-founder Xia Yiping as CEO for New EV Firm, Clubhouse Banned in China, and Huawei Will Never Sell Its Smartphone Business.
Baidu Appoints Mobike Co-founder Xia Yiping as CEO for New EV Firm: Reports
Chinese search engine and AI company Baidu has hired Xia Yiping, the co-founder of bike-sharing firm Mobike to be the chief executive of its new electric car company, operating in tandem with automobile manufacturer Geely, according to reports.
Pinduoduo Finally Turned us into Couch Potatoes by Offering Nonstop Logistics Services amid Spring Festival
Running to the door to pick up the parcels three times in a row, the Chongqing-based high school English teacher from Canada could not stop praising the ultimate couch potato experience offered by China’s leading interactive e-commerce platform Pinduoduo.
Chinese Officials Summon Tesla Over Quality and Safety Complaints
Chinese regulators have summoned representatives from Tesla for talks over quality and safety issues of its vehicles, amid the US electric carmaker’s rapid expansion in the world’s largest car market.
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.
Clubhouse Banned in Mainland China
Following seas of Chinese users flocking to download the invite-only social media application Clubhouse, the app was banned in mainland China on Feb. 8, around 7:30 p.m. local time. “An SSL error has occurred and a secure connection to the server cannot be made,” read the app’s loading page.
Huawei Will Never Sell Its Smartphone Business: Founder Ren Zhengfei
On Feb. 9, Huawei CEO Ren Zhengfei showed up at an interview session with a group of reporters in Taiyuan, Shanxi Province, where he responded to a series of hotspot issues about the company, including whether to sell its terminal business.
China VC Weekly: Keppel Capital’s New Fund, Pony.ai’s Lofty Valuation and More
In last week’s VC news, a local gene tech firm raises funds from Tencent, Singapore’s Keppel Capital sets its eyes on China’s logistics market, while autonomous driving powerhouse Pony.ai takes its valuation to new highs.
Bilibili Boycotted by Several Business Partners as Criticism Mounts Over Offensive Content
China’s leading video-streaming platform Bilibili is facing a severe backlash on social media due to what critics claim is offensive video content involving child porn, incest, and voyeurism.
From High School Dropout to Guinness World Record Holder: How Chinese Vlogger Li Ziqi Teaches Millions to “Live with the Earth”
Sewing a flowing purple maxi-dress dyed with grape skins, she tucked her long hair back and smiled at her playful lambs brushing against her skirt. Grabbing some dried plum for a snack, she went back to farming. Bird chirping like a song, willows dancing with the breeze, the beautiful country life is captured within a frame and seems so unreal on this bustling planet.
China Esports Weekly: Beijing Universal Resort Partners With Tencent, League of Legends Wild Rift Receives Game Approval
As the Chinese New Year approaches, the national esports industry is facing a slowdown, as most companies have allowed their employees to go back home to celebrate. Still, we saw several exciting and significant developments in the industry.
Secondhand but Grand: The Craze of Trading Pop Mart Blind Boxes in China
“Let’s open up the nine secondhand Pop Mart blind boxes I’ve bought for only 86 yuan,” says “Little Load loves Study,” an influencer on video-sharing platform Bilibili at the beginning of a video in which waxes lyrical about second-hand Pop Mart Boxes.
China’s Cancer Screening Pioneer New Horizon Health Raises HK$2.42 Billion in Hong Kong IPO Debut
On Feb. 18, biotechnology company New Horizon Health (6606.HK) raised HK$2.42 billion in an initial public offering (IPO) in Hong Kong, with the firm’s IPO being oversubscribed 4133 times. The company’s 76.598 million shares were priced at HK$26.6 and quickly skyrocketed by 185% in value. The firm’s market value reached HK$30 billion.
Baidu Reveals 2020 Q4 Financial Results, Showing Strong Growth in Cloud Services
Artificial intelligence (AI) giant Baidu Inc. on Feb. 18 released its unaudited financial results for the fourth quarter of the fiscal year ending on Dec. 31, 2020.
Not a Fail: A Pivot in Localization Strategy is Behind McDonald’s Chinese Burger and KFC’s Hot-dry Noodles
Customers in China craving a Big Mac at McDonald’s today might have to do a double take at the menu to make sure they’re at the right place.
InsurTech Startup Waterdrop Set For US IPO, Latest Valuation Hitting Tens of Billions of Dollars
Leading online InsurTech company Waterdrop Inc. is reported to be in full preparation for a U.S. initial public offering (IPO) in the next quarter. According to Jiemian News, this development follows a recent valuation of the company at a total worth of tens of billions of dollars, citing people familiar with the matter.