Pandaily's Digest #20210628
Nongfu Spring denies using ingredients from Fukushima, Kuaishou E-commerce holds promotion conference, Gaotu CEO responds to controversies, HeyTea on track to raise a new massive round, and more.
Nongfu Spring Denies Using Ingredients from Fukushima in Soda Water
On June 27th, in response to public discussions, Hangzhou-based bottled water and beverages giant Nongfu Spring asserted that there were no ingredients imported from Fukushima, Japan, in its soda products.
Chinese Female Health App Meiyou May List Overseas
On June 24th, Meiyou, a Chinese Internet company, withdrew their application for an IPO and listing in China.
In July last year, Meiyou, also known as Meet You, submitted a prospectus planning to raise RMB 1.87 billion.
Tesla to “Recall” Model 3 and Model Y in China for Online Software Update
On June 26, Tesla filed a recall plan with the State Administration for Market Regulation Supervision of China as the company Tesla will make an online software update related to assisted driving.
Kuaishou E-Commerce Holds Investment Promotion Conference for Books and Education to Support Partners
On June 25th, Chinese short video company Kuaishou conducted an Investment Promotion Conference for the Books and Education Industry in Beijing, and released a business support and training plan for the industry.
CEO of Education Firm Gaotu Responds to Reports of Staff-Cutting Under Regulatory Pressure
On the evening of June 27, Larry Chen, CEO of Gaotu Techedu, issued a document in response to recent public suspicions about the company. In the statement, Chen revealed that they have integrated some education units and undergone personnel optimization for different departments, but by continuously recruiting outstanding talent, the number of employees has been steadily increasing over the past month.
China VC Weekly: Cheese Tea, Autonomous Driving, New Funds
In this week’s VC news: Chinese cheese tea giant HeyTea on track to raise a new massive round, autonomous driving champion WeRide raising over $600 million in just 5 months and early stage startup focused VC fund Northern Light closes new round.