Pandaily's Digest 20211213
Missfresh's efforts to improve profitability, SenseTime delays HK IPO in wake of US blacklisting, Li Shufu steps down as chairman of Geely New Energy, Xiaomi’s double-line car manufacturing, and more.
Chinese E-Grocer Missfresh Bolsters Upstream Supply Chains Through Private Brands and Direct Sourcing
Missfresh is stepping up to improve profitability by developing in-house labels and expanding the scale of direct sourcing as the main problem China’s online grocery sector faces has changed from the last-mile logistics to the first-mile supply chain.
Chinese Firm SenseTime Postpones Hong Kong IPO in Wake of US Blacklisting
Chinese AI startup SenseTime announced at the Hong Kong Stock Exchange (HKEx) that its initial public offering (IPO) will be delayed.
Zhou Jianqun Succeeds Li Shufu as Chairman of Geely New Energy
Zhejiang Geely New Energy Commercial Vehicles Co., Ltd. had recently made a change to its registration with China's Industrial and Commercial Administration.
Xiaomi’s Double-Line Car Manufacturing: Holding Company Smartmi Technology Preparing to Build Vehicles
Smartmi Technology, an eco-chain company controlled by Xiaomi, has joined the car building project.
T11 Food Market Receives $100 Million in Financing Led by Alibaba
T11 Food Market, a Chinese fresh grocery supermarket brand, has recently received financing of $100 million led by Alibaba.
Tencent to Increase Stakes in Finnish Game Developer Supercell to $11 Billion
Tencent is negotiating a new deal that would boost its stakes in Supercell, a Finnish smartphone game developer, at a valuation of roughly $11 billion.
Pony.ai Voluntarily Suspends Testing of Driverless Vehicles in California
Chinese self-driving startup Pony.ai has voluntarily suspended the testing of autonomous vehicles in California after a minor collision during daily tests.
McDonald’s Chinese Workers Complain About Frequent Promotions, Demand Better Treatment
Under the latest promotional efforts posted on McDonald's official Weibo account, complaints from overworked frontline employees flooded the comments section.
Baidu’s Fourth Urban Intelligent Vehicle Base in China Opens in Wuzhen
On December 8th, Baidu Apollo Park in Wuzhen, Zhejiang Province officially opened, making it the fourth urban intelligent vehicle base built by the company in China after others that were built in Beijing, Guangzhou and Shanghai.
Pork Dumplings and Beef Noodles, Sans Meat? Chinese Entrepreneurs Rise to the Challenge
As dietary trends progress in China, consumers seeking to reduce their personal meat consumption have more and more places to turn.