Pandaily's Digest #20211124
Tang Binsen, founder of Chinese beverage giant Genki Forest, offers insight in an extensive interview, NetEase Cloud Music sets date for IPO in Hong Kong, BYD e-buses arrive in Germany, and more.
In Conversation With Tang Binsen of Chinese Beverage Giant Genki Forest: A Mogul, a Pirate, a Product Manager
Serial entrepreneur Tang Binsen (唐彬森 Táng Bīnsēn) had operated in the internet industry for ten years. Although he had made it rich, his reputation hadn’t yet caught up to his earning power. In 2016, he entered the beverage industry, where he finally became a true internet tycoon. Hear about his experience in this extensive interview.
NetEase Cloud Music’s Hong Kong IPO Set for December 2
NetEase Cloud Music, the music streaming arm of Chinese tech giant NetEase, is planning to raise up to HKD $3.52 billion ($451.9 million) from an IPO in Hong Kong, after shelving it earlier this year amid an environment of tightening regulation from Beijing on the country’s private sector.
New Generation BYD eBuses Delivered to Germany
On Tuesday, BYD announced the delivery of its first batch of five new generation 12-meter pure electric buses to DB Regio Bus, a bus group owned by Deutsche Bahn. The vehicles are now in operation in Karlsruhe, Germany.
Ep. 84: 2021 China Internet Report with SCMP CEO Gary Liu
In this edition of the podcast, tech and investment expert Rui Ma is joined with Gary Liu, CEO of the South China Morning Post, to discuss the state of affairs in China’s internet industry. Check out the full transcript here or listen on your device.
Gree Announces Implementation of “Double-Break” Working Schedule
On Monday, Chinese appliance manufacturer Gree officially announced that it would cancel the “big and small week” overtime working schedule and implement a “double break” policy, which would be enforced from that day.
XPeng Reports 25,666 Vehicles Delivered in Q3
XPeng, a Chinese smart electric vehicle company, on Tuesday announced its unaudited financial results for the three months ended September 30, 2021. Its deliveries of vehicles were 25,666 in the third quarter of 2021, setting a new quarterly record and representing a year-on-year increase of 199.2%.
Xiaomi Q3 Revenue Reaches $12.22 Billion, a Year-on-Year Increase of 8.2%
Xiaomi released its financial report for the third quarter of 2021 on Tuesday. Its revenue reached 78.06 billion yuan ($12.22 billion), up 8.2% year-on-year. Gross profit was 14.29 billion yuan, up 40.6% year-on-year, and operating profit was 2.73 billion yuan, down 59.2% year-on-year. Under non-IFRS, adjusted net profit was 5.176 billion yuan, up 25.4% year-on-year.
Tianjin’s First Fully Automatic Subway Officially Completed
Last Thursday, the second phase of Tianjin’s Metro Line 6, designed by CRRC Changchun Railway Vehicles Co., Ltd. and built by Tianjin Electric Locomotive Co., Ltd., successfully completed assembly and static debugging, marking the accomplishment of the vehicle production process. This is the first unmanned subway manufactured locally in Tianjin.
Tesla Model Y Performance Version with a Price Tag of $60,750 to Be Delivered Soon
Deliveries of the China-made Tesla Model Y Performance will begin soon, the company said on its Weibo account on Tuesday. The model uses dual motors and ternary lithium batteries and has a NEDC range of 566km.
Chinese Agricultural Drone Startup XAG to Debut in STAR Market
On Monday, the IPO application of XAG, a domestic agricultural drone maker, was accepted by the Shanghai Sci-Tech Innovation Board (STAR Market). XAG plans to raise 1.51 billion yuan ($235 million), which would be used for a digital agricultural intelligent manufacturing base, construction of an R&D center in Guangzhou, as well as, marketing and service system development.