Pandaily's Digest #20220211
IOC launches Beijing Olympics-themed NFT mobile game; Binance Labs makes strategic investment in Animoca Brands subsidiary GAMEE; Hong Kong to launch CNY pilot soon after spring festival, and more.
China NFT Weekly: Animoca Brands’ Empire of NFT Games
Digestible news about the latest developments across the fields of NFT, blockchain and metaverse in China, delivered to you every week.
This week: IOC launches Beijing Olympics-themed NFT mobile game, Binance Labs makes strategic investment in Animoca Brands subsidiary GAMEE, Hong Kong to launch CNY pilot soon after spring festival, and more.
China’s Leading Chipmaker SMIC Sees Q4 Revenue Increase 53.8% YoY
On Thursday, Chinese chipmaker Semiconductor Manufacturing International Corporation (SMIC) released its latest performance report. According to the document, the company’s revenue in the fourth quarter of 2021 was 10.26 billion yuan ($1.62 billion), a year-on-year increase of 53.8%, hitting a record high. Meanwhile, gross profit was 3.352 billion yuan, a year-on-year increase of 134.1%, and the gross margin was 32.7%, compared to 21.5% in the previous year.
Tencent Adjusts Film Business
Chinese news outlet Jiemian News reported on Thursday that the main part of Tencent Pictures will be adjusted from PCG (Platform and Content Business Group) to CDG (Enterprise Development Business Group), while Cheng Wu, Vice President of Tencent and CEO of China Literature, will continue to lead this business segment.
Tesla, Xiaomi and Toyota to Start Construction Projects in Beijing
On January 30, the People’s Government of Beijing Municipality issued a “2022 Key Task List”, showing that Tesla’s design center, Xiaomi Auto’s manufacturing plant, Toyota’s fuel cell R&D center and other projects will start construction in Beijing this year.
XPeng to Open First Self-Operated Stores in Sweden and the Netherlands
Chinese electric vehicle brand XPeng Motors plans to expand its business to Sweden and the Netherlands, CNBC reported on Thursday. XPeng decided to operate under a specific business model, combining direct selling and agency cooperation with local partners. XPeng‘s first store in Sweden will be established in Stockholm this week, while its first store in the Netherlands will open in March.
Sensor Tower: 34 Chinese Mobile Game Makers Squeeze in Top 100 with Largest Revenue
According to a report released by Sensor Tower on Wednesday, in January, a total of 34 Chinese mobile game manufacturers were shortlisted on the Top 100 revenue list (only the revenue from App Store and Google Play). These applications earned $2.26 billion in January, accounting for nearly 39% of the total revenue of game makers on the list.
Didi Stocks Rise 9% After Tencent Increases Shares
The US Securities and Exchange Commission released a document on Thursday suggesting that Chinese tech giant Tencent has added about 1.8 million Class A ordinary shares to its existing holdings in ride-hailing firm Didi Global Inc. This brings Tencent‘s shareholding ratio to 7.4% as of December 31, 2021, up from the 6.4% that had been disclosed ahead of its June initial public offering. The news boosted Didi shares by 8.8% during Thursday trading.
Only 300 of Faraday Future’s 14,000 EV Pre-Orders Have Paid Deposits
California-based electric vehicle (EV) firm Faraday Future (FF) has recently released data regarding pre-orders for its FF 91 model, showing a total of just 300 units backed by a paid deposit, The Paper reported on Wednesday.
The statement by FF means that among the 14,000 pre-orders the company claimed to have received, only 300 vehicle reservations have actually been followed up with a paid deposit, and the left are all free bookings with no payments made so far. This practice is uncommon among emerging vehicle companies – even industry leader Tesla requires a minimum deposit of $1,000 for a reservation.
IOC Authorizes nWayPlay to Sell 500 Bing Dwen Dwen-Themed Digital Toy Boxes
According to a social media post by digital trading platform nWayPlay on Wednesday, the International Olympic Committee (IOC) has granted authorization for a limited series of digital mystery toy boxes themed on this year’s official Olympic mascot, Bing Dwen Dwen, to be put on sale at 1:00 a.m. on February 12, Beijing time. Only 500 of these so-called “Epic boxes” will be made available, each of which costs $99. Individual consumers are limited to buying a maximum of five.
Self-Developed Nature of Xiaomi’s Surge P1 Chip Called Into Question
According to a report by Sohu Tech on Thursday, Xiaomi‘s Surge P1 chip, a purportedly self-developed charging chip, was recently questioned to be produced by an original equipment manufacturer (OEM). The Xiaomi Surge P1 chip was first installed in the Xiaomi 12 Pro smartphone model. At that time, the firm said that R&D of the chip had taken 18 months and cost over 100 million yuan ($15.74 million).