Pandaily's Digest #20210830
QR Codes in the US and China, Caocao Chuxing's new financing, Pico's acquisition by ByteDance, Vivo X70 to debut on Sept 9, SMIC's stellar H1 growth, Kuaigou and SenseTime file for HK IPOs, and more.
QR Code: A Covid Innovation in The U.S., A Lifestyle in China
For years, the QR Code was dismissed as at best a technology “occasionally useful, but often pointless”, or worse, a pathetic gimmick – who would want to download some app to scan a code that leads you nowhere but a poorly loaded ad page?
Geely-Backed Ride-Hailing Platform Caocao Chuxing Receives Billions in New Round of Financing
Chinese ride-hailing platform Caocao Chuxing has recently completed a new round of financing totaling several billions of yuan, according to an insider told 36Kr.
VR Headset Maker Pico Confirms Acquisition by ByteDance
Leading Chinese VR hardware manufacturer Pico sent an all-staff letter on Sunday, revealing that the company was to be acquired by Internet giant ByteDance. As a result of the acquisition, according to Pico, users will have access to more content support and upgraded technology services.
Vivo X70 Sets September 9 Release Date, X70 Pro+ to Have All New Design
Smartphone maker vivo has confirmed the release date of its newest smart phone. September 9 will see the new lineup of phones unveiled to the public, including vivo X70, X70 Pro and X70 Pro+. The release will happen at 7:00 pm on September 9.
Leading Chinese Chip Maker SMIC Records Stellar H1 2021 Growth, Despite Sanctions
Semiconductor Manufacturing International Corporation (SMIC) has released its report for the first half of 2021, revealing a 278% year-on-year increase in net profits compared to the same period last year, even while U.S. regulators continued to impose restrictions on the firm’s global operations.
Huawei Music and Taihe Music Group Reach Copyright Agreement
On August 28th, Huawei Music announced a copyright agreement with Taihe Music Group and will now provide users with music by hundreds of new and old singers, including Xue Zhiqian, Xu Song, Hebe Tien, Tan Weiwei, Yang Naiwen, A Duo, and Liu Xijun.
Online Logistics Platform Kuaigou Dache Files for Hong Kong IPO
Intra-city freight platform Kuaigou Dache, known as GoGoX overseas, filed a prospectus for a planned listing on the HKEx main board, according to HKEx filings. CICC, UBS, BOCOM and ABC International are the joint sponsors.
Artificial Intelligence Unicorn SenseTime Applies for Hong Kong IPO
China’s artificial intelligence unicorn SenseTime submitted an application to list on the HKEx on August 27, with China International Capital Corporation Limited (CICC), Haitong International Securities Group Limited and HSBC as co-sponsors.
Chinese Grocery Platform Missfresh Unveils First Financial Report Since IPO
On August 26th, Missfresh released its first financial report after its U.S. listing. The report showed that, in the second quarter of 2021, its total net revenues reached 1.89 billion yuan ($293.4 million), representing a 40.7% year-on-year increase. GMV increased by 35.4% year-on-year to 2.31 billion yuan, and total number of fulfilled orders increased by 32.2% year-on-year to 23.8 million.