Pandaily's Digest #20210609
Chinese online grocery duo's US IPOs, BYD ships electric cars to Norway, China's blockchain ambitions, Dingdang Health's latest $220 million financing round, Zhangmen Education's NYSE debut, and more.
Chinese Online Grocery Duo File for US IPOs, Spicing up China’s Already-Hot Fresh Produce E-commerce Market
Dingdong Maicai and MissFresh, leading players in China’s burgeoning fresh food delivery arena, filed for US listings on Tuesday, racing to become the first publicly-traded Chinese online grocery platform.
Chinese Automaker BYD Ships First Batch of Electric Cars to Norway
Chinese automaker BYD sent 100 of its “Tang” models to Norway on Monday, marking the first batch in the planned delivery of electric vehicles (EVs) to the European market.
China Aims to Become Global Leader in Blockchain by 2025 as Cryptocurrency Crackdown Widens
China’s top telecommunications and Internet regulators on Monday unveiled new guidelines aimed at transforming the country into a global leader in blockchain technology by 2025, as authorities continue to impose curbs on domestic cryptocurrency production.
Chinese E-pharma Platform Dingdang Health Raises $220 Million to Expand O2O Strategy
Chinese online-to-offline (O2O) medicine platform Dingdang Health has raised $220 million in its latest financing round led by TPG Capital Asia, the company announced on Tuesday.
Zhangmen Education Lists on NYSE Amid Heightened Scrutiny of China’s Online Tutoring Market
Zhangmen Education on Tuesday officially went public on the New York Stock Exchange under the ticker symbol “ZME” in the face of tightening restrictions on e-learning platforms from Chinese market regulators, following complaints about improper business practices.
Alibaba-backed online education giant Zuoyebang downsizes amid tightening policy control
Online education company Zuoyebang reportedly laid off employees and went so far as to cut entire departments due to China’s pressuring policy on the sector. The industry might face the biggest wave of layoffs during this business recession.
China VC Weekly: COVID Vaccine and Xiaomi’s First EV Moves
In last week’s VC news, pharmaceutical firm Stemirna Therapeutics raises roughly $188 million for COVID vaccine trials, Xiaomi-backed fund invests in autonomous driving startup Zongmu Technology shortly after the company announced a foray into the EV market, supply chain information startup Xforceplus closes $200 million Series C round.
JD.com-owned Dada Group Delivers Strong Q1 Results Boosted by Demand in Lower-Tier Markets
Chinese on-demand delivery and retail platform Dada Group on Tuesday reported a 52% jump in first quarter revenue from a year earlier, as the company tries to expand its network to the country’s lower-tier cities and rural areas.
Emerging Markets Will Drive Next Wave of Global 5G Smartphone Sales: Realme-Counterpoint White Paper
Two years after the launch of the world’s first commercial 5G network, the race continues. OEMs (original equipment manufacturers) are rapidly expanding their 5G offerings and accessibility, driving the adoption of the next-generation wireless standard across key markets including the US, Europe and China.
Nio Unveils “Gemini” as Code Name for New Premium Model, Quashes Rumors of Entry-Level Release
Chinese electric vehicle (EV) maker Nio has clarified that the new model to be launched next year will maintain the brand’s high-end positioning, ending speculations that Nio would launch a less expensive entry-level car.