Pandaily's Digest #20220216
Didi Global Inc., the Chinese ride-hailing giant, is now implementing the company’s long-rumored layoffs. One Didi employee said that the plan will be implemented very quickly
Didi Starts Massive Layoffs Covering Nearly All Departments
Chinese media outlet LatePost reported on Monday that Didi Global Inc., the Chinese ride-hailing giant, is now implementing the company’s long-rumored layoffs. One Didi employee said that the plan will be implemented very quickly and that layoff notices will be completed by the end of February.
BYD Qin Plus DM-i Catches Fire in Guangdong
According to a video circulating on the Internet on February 13, a vehicle, identified as a BYD Qin Plus DM-i, parked on the roadside partially ignited. No one was hurt in the incident. The Chinese EV maker responded that the battery did not burn during the fire but that further investigation needs to explain what happened.
CATL Sues SVolt for Unfair Competition
Jiemian News reported on Monday that the Ningde Intermediate People’s Court of Fujian Province is preparing to hear a lawsuit later this month in which Contemporary Amperex Technology Co., Limited (CATL) is suing SVolt on the grounds of unfair competition.
Xiaomi Denies Rumors of Mass Layoffs
Rumors have swirled recently that Chinese tech giant Xiaomi plans to lay off 10% of its employees, mainly targeting new employees and fresh graduates. Before the concerns became public, Xiaomi employees had already lamented online that the company set the ratio of year-end merit pay at the “C level” of 10%.
Starbucks Responds to Incident of Chongqing Employee Driving Away Policemen
A Chinese web user took to social media on Monday to accuse a Starbucks employee in the southwestern city of Chongqing of driving out a group of on-duty police officers, on the grounds that their eating at the storefront would affect the coffee brand’s image.
Lackluster Super Bowl Interest in China Underscores NFL’s Regional Challenges
A mid all the spectacle and pomp of the 2022 Beijing Winter Olympics, the attention of sports fans in the United States was diverted on Monday to this year’s Super Bowl, a tight contest that may have garnered the largest television audience in the league’s history. Despite substantial efforts by the National Football League (NFL) at globalizing interest in American football, which have focused primarily on the European market, sports fans in China remain largely indifferent.
WeChat Conducts Internal Testing for Cross-Border E-Commerce Platform
Xinyan Finance learned on Tuesday that Chinese communications platform WeChat has recently tested a cross-border e-commerce mini program called “Shopping Around World Online,” with Tenpay as the main channel. This is a platform for gathering high-quality cross-border e-commerce mini program merchants, thereby enhancing the cross-border online shopping experience through practical tools.
Tencent-Funded Yunji Technology Prepares for STAR Market Listing
CITIC Securities released an announcement on February 11 that Beijing Yunji Technology Co., Ltd. has recently completed an initial public offering of A shares, and is preparing for counseling and filing to list on the Shanghai Sci-Tech Innovation Board (STAR Market). CITIC Securities is serving as the counseling institution from February to May this year.
XPeng P5 Adds Four New Models
Recently, XPeng P5 has added four new models to its line up: 460G +, 460E +, 510G and 510E. The new models put the total number of models in this series to ten. The new models’ prices after subsidies are 164,700 yuan ($25,940), 184,700 yuan, 173,300 yuan and 193,300 yuan respectively.
AI Startup 4Paradigm’s Hong Kong IPO Bid Deemed Invalid
The official website of the Hong Kong Stock Exchange (HKEx) showed on Tuesday that an IPO application submitted by Chinese AI startup 4Paradigm on August 13, 2021 was invalid, as it has failed to pass the hearing within six months.