Pandaily's Digest #20211201
Two ByteDance employees sentenced for bribery, Meituan's smart transport division becomes independent, Tesla's Shanghai Gigafactory achieves 90% supply chain localization, and more.
Two ByteDance Employees Sentenced for Bribery and Promoting Certain Content on Douyin “Hot List”
On November 26, a judgment published on the website China Judgments Online showed that two employees of ByteDance were sentenced for bribery in the first trial court of Haidian District People’s Court of Beijing. The workers had taken a bribe totaling 580,000 yuan ($91,015) in exchange for pushing certain content to the “hot list” of the Douyin app, the Chinese mainland version of TikTok.
Meituan’s Smart Transportation Platform Split, Ride-Hailing Division Now Independent
Meituan recently split its smart transportation platform, which was established less than one year ago, Chinese media outlet LatePost reported on Monday. The car-hailing and unmanned vehicle distribution divisions under the platform are independent. Zhang Xingyuan and Xia Huaxia are responsible for the two divisions, respectively, both of whom report to Meituan’s CEO Wang Xing.
Tesla’s Shanghai Gigafactory Achieves 90% Localization of Supply Chain, To Produce Half a Million Vehicles This Year
Tao Lin, Vice President of Tesla Global, said in a recent interview that Tesla’s Shanghai Gigafactory can achieve the goal of producing 500,000 vehicles this year. Moreover, the facility is highly efficient in production and has localized 90% of its supply chain.
Qualcomm’s New Snapdragon 8 Gen 1 to Power Xiaomi and OPPO Smartphones
Qualcomm unveiled its new flagship smartphone processor – the Snapdragon 8 Gen 1 – at the company’s annual Snapdragon Tech Summit held on Wednesday.
Youku Sues Kuaishou for Infringement, Compensated $72,193 in First Instance
On November 25, the Beijing Internet Court made a first-instance judgment on the Youku v. Kuaishou case regarding infringement of a TV series “Skate Into Love.” Youku won the case and was compensated 460,000 yuan ($72,193).
China VC Weekly: Agricultural Robots and Lightspeed’s Largest Fundraising in History
In last week’s VC news, one of China’s most active VCs Lightspeed China Partners closes the largest fundraising round in its history, agricultural robot startup FJDynamics, founded by a former DJI chief scientist, raises $70 million in Series B round, and more.
China Releases Major Draft Standards for Vaping Industry, Market Concentration Likely
A group of Chinese government bodies on Tuesday afternoon released comprehensive draft standards for vaping and e-cigarettes, sending shockwaves through a domestic industry which includes leading global firms such as SMOORE and RELX.
ByteDance Invests in Dubai-based iMile Delivery
People familiar with the matter said that TikTok’s parent company ByteDance had invested in iMile, a logistics company based in Dubai. This would be the the first major fundraising by the courier startup that services Chinese online vendors, Bloomberg reported on Tuesday.
Huawei Wins Industrial Land for $30 Million to Manufacture Smart Car Parts
On November 26, Chinese tech giant Huawei won 260,000 square meters of industrial land in Dongguan Songshan Lake for 188 million yuan ($30 million). The land’s industry type is for intelligent automobile parts manufacturing.
Xiaomi Successfully Registers “XIAOMI PAY” Trademark
According to available business registration information, in April 2021, Xiaomi Corporation has applied for the registration of the trademark “XIAOMI PAY.”