Pandaily's Digest #20210924
Sogou goes private, Chinese gaming firms' anti-addiction convention, Trip.com Group's Q2 financial report, Huawei's Nova 9 series, ByteDance to debut an independent export e-commerce app, and more.
Sogou Announces Completion of Transaction to Go Private
Chinese online search firm Sogou announced today that it has completed a merger according to an agreement reached with Tencent Holdings on September 29, 2020. As a result of the move, the company ceased to be publicly traded and became a privately-held company wholly-owned indirectly by Tencent.
Chinese Gaming Organization and 213 Gaming Firms Including Tencent and NetEase Launch Convention Against Game Addiction
On Thursday evening, a committee under the China Audio-Video and Digital Publishing Association issued a document on its official WeChat account, saying that the committee, together with Tencent, NetEase and 213 other gaming firms, launched a convention on online gaming anti-addiction.
Trip.com Group Reports Net Revenue of 5.9 Billion Yuan in Q2, an 86% YoY Increase
On Friday, one-stop travel service provider Trip.com Group announced its unaudited financial results for the second quarter of 2021. During the period, the firm reported net revenues of 5.9 billion yuan ($912 million), representing an 86% increase from the same period in 2020, primarily due to the strong recovery of China’s domestic market.
Huawei Unveils Nova 9 Series Mobile Phone
Chinese smartphone maker Huawei unveiled its Nova 9 series mobile phones at a press conference on Thursday night, with price tags starting from 2699 yuan ($418) for the Nova 9 and 3499 yuan for the Nova 9 Pro. The Huawei Nova 9 series has already opened for pre-order and the first sale will be on September 29.
Ride-hailing Platform T3 Travel About to Complete Financing Round Worth 5 Billion Yuan
According to a LatePost report on Thursday, T3 Travel is about to complete its latest round of financing, including equity financing of more than 5 billion yuan ($755 million). This financing round is led by CITIC Group and followed by previous shareholders. The company has also obtained a credit line exceeding RMB 2 billion.
Huawei Executive Lu Hongju: Next Year Key for Construction of Level 3 Conditional Driving Automation Standard System
The Autonomous Networks Industry Summit was held in Beijing on Thursday. At the event, Lu Hongju, President of Huawei’s Public Development Department, said that next year will be key for the construction of standard system of Level 3 conditional driving automation technology. With such a system, it will be very promising to realize the scale deployment of Level 3 in China over the next two to three years.
China Evergrande Group Holds Special Late Night Meeting, Chairman Xu Jiayin Emphasizes Need to Fulfill Corporate Responsibilities
At 11 p.m. on the night of September 22, embattled Chinese property developer Evergrande Group held a special internal meeting. Chairman Xu Jiayin told more than 4,000 leaders at all levels attending the meeting that it is the obligation and responsibility of the company to carry out construction projects with good quality and quantity.
Xiaomi Responds to Lithuania’s Claim that Its Mobile Phones Have Built-In Censorship Capabilities
Lithuania’s Defense Ministry said on Tuesday that the phones sold in Europe by Chinese smartphone giant Xiaomi Company have built-in censorship functions to detect certain sensitive terms, Reuters reported on Wednesday.
Honor CEO Zhao Ming: Domestic Market Share Has Risen to 16.2%
Zhao Ming, CEO of Chinese smartphone maker Honor, revealed on Wednesday that the company’s domestic market share has risen to 16.2%, close to its highest ever level of 16.7%.
ByteDance to Debut Independent Export E-Commerce App
The Passage reported on Thursday that Chinese tech firm ByteDance is currently testing an independent export e-commerce platform and plans to release the app in October this year. A source close to the firm said that this independent app is similar to Alibaba’s AliExpress.