Pandaily's Digest #20210324
Bilibili set to raise $2.6B in secondary Hong Kong listing, Kuaishou reports jump in revenue, Tencent Music and Warner Music launch new joint record label in China, and more.
Bilibili Set to Raise $2.6B in Secondary Hong Kong Listing at HK$808 Per Share
Chinese video streaming platform Bilibili is set to raise HK$20.2 billion ($2.6 billion) from a secondary listing in Hong Kong, the company confirmed.
Chinese Regulators Clamp Down on Apps Collecting Excessive Personal Data
A coalition of four Chinese regulatory bodies released guidelines this week that will establish more restrictions on the collection of individual user data by digital service providers.
China VC Weekly: Autonomous Driving, Battery Health, Drones and More
In last weeks VC news: Bain Capital bets on Newlink, XAG raises funds for R&D, Momenta bags $500 million, while Fova Energy secures new funds from Shunwei Capital.
Kuaishou Reports Jump in Revenue, E-Commerce Growth in First Results Report Since Mega IPO
Chinese video sharing platform Kuaishou Technology recorded a 50% jump in revenue in 2020 as well as a growth in active users in its first report card following the company’s mega initial public offering (IPO) in Hong Kong.
Baidu Has Spent Over $15 Billion on Research in the Past Decade, CEO Declares in Letter to Shareholders
Chinese search engine and AI giant Baidu has spent over $15 billion on research and development (R&D) in the past decade, the company’s CEO Robin Li revealed in a letter to shareholders.
Chinese E-cigarette Stocks Slump Following Proposed Regulation
Chinese government authorities on March 22 suggested that the country’s tobacco industry regulations might also be applied to e-cigarettes and vaping products.
At the Right Place, At the Right Time: How Baidu is Cementing its Position as a Leading AI Company
For two decades, Baidu Inc has been referred to as China’s Google. Now, with so much positive momentum surrounding the company, investors, analysts, businesses and consumers alike are gradually realizing that it is much more than a search engine.
S&P Dow Jones Indices to Approve Xiaomi Index Re-inclusion after US Investment Ban Halted
S& P Dow Jones Indices (S&P DJI) announced on Monday that Xiaomi is eligible to be included on indices again after it won a court ruling which temporarily lifted a US government investment ban in the Chinese smartphone maker.
Kuaishou Issues Music Copyright Settlement Standards for Short Videos and Live Broadcasts
Video company Kuaishou held a music copyright conference in Beijing on Monday, unveiling its music copyright settlement standards for short videos and live broadcast scenes on the platform.
Tencent Music, Warner Music Launch New Joint Record Label in China
Tencent Music Entertainment (TME), China’s dominant online music platform, said on Monday it has signed a deal with Warner Music Group (WMG) to launch a new joint venture record label.
Xpeng Kicks Off ‘Longest Autonomous Driving Challenge’ in China
Chinese electric vehicle (EV) startup Xpeng Motors has kicked off a week-long autonomous driving challenge that will span more than 3,600 kilometers across six Chinese provinces, putting its autonomous capabilities to the ultimate test.
China Now Has a Trust Issue with Tesla over Spy Concerns
Tesla CEO Elon Musk responded to concerns of Tesla spying for the U.S. government.
Intel China Faces Backlash after Removing Female Standup Comedian from Marketing Campaign
Intel defended its decision to take down an advertisement featuring Chinese standup comedian Yang Li over the past weekend after Internet users questioning the company’s values and beliefs.