Pandaily’s Digest #20220228
hinese electric vehicle maker NIO Inc. filed a document to the Hong Kong Stock Exchange (HKEx) on Monday, expressing plans to list on its Main Board by way of introduction.
NIO Seeks Secondary Listing in Hong Kong
Chinese electric vehicle maker NIO Inc. filed a document to the Hong Kong Stock Exchange (HKEx) on Monday, expressing plans to list on its Main Board by way of introduction. Morgan Stanley, Credit Suisse and CICC are acting as joint sponsors of the proposed move. According to the prospectus, William Li, Founder, Chairman and CEO of NIO, holds 10.6% of the shares, while Tencent holds 9.8%.
Intracity Logistics Platform Huolala Fined 400,000 Yuan
According to Chinese business data site Tianyancha, Shenzhen Yishi Huolala Technology Co., Ltd., the operator of intracity logistics platform Huolala, was fined 400,000 yuan ($63,346) on Thursday by the Futian Bureau of the Shenzhen Administration for Market Regulation. The penalty was incurred because the firm failed to publicly solicit opinions on the modification of service agreements and trading rules in accordance with the law.
IoT Services Firm Tuya Smart Denies Mass Layoffs
Tuya Smart, an Internet of Things (IoT) smart product solutions provider, has reportedly been carrying out layoffs involving hundreds of employees since last year. A Tuya Smart spokesman responded on Friday: “The news is untrue, and the company has no plan to lay off employees. Our global business is developing steadily, and the human resources policy will further strengthen the promising teams and businesses according to the company’s strategy. Many positions are open globally, and we will continue to provide customers with high-quality products and services. Talented personnel are welcome to join us.”
Final Price of Huawei AITO M5 Settled
The official final retail price of AITO M5, an intelligent luxury SUV jointly developed by Seres and Huawei is settled recently. After subsidies, prices of the rear-drive Standard Edition, 4WD Performance Edition, 4WD Premium Edition are 249,800 yuan, 279,800 yuan and 319,800 yuan, respectively.
Autonomous Driving Startup TuSimple Agrees to U.S. Regulations
Autonomous driving startup TuSimple has reached an agreement with U.S. authorities to resolve security concerns around its self-driving truck operations and the company’s ties with China, Bloomberg reported on Wednesday.
One Olympic Games, Two Athletic Lives
Eileen Gu and Su Yiming, the athletes in Beijing 2022 Winter Olympics, represent the group of athletes atypical to China’s Olympic teams – those scouted by amateurs and clubs, as opposed to the ones selected and trained from a young age within the state-sponsored sports system that China inherited from the Soviet Union in the 1960s. This system, known as “Ju Guo Ti Zhi” (“举国体制”) in Chinese, is a centrally administered system aiming to pool as much as human and financial resources to provide the maximum support for a handful of exceptional athletes.
Chinese Long March 8 Rocket Sends 22 Satellites to Space
China successfully launched a Long March 8 rocket on Sunday morning at 11:06 a.m., aiming to place 22 new satellites in space. The undertaking, which was carried out from the Wenchang Spacecraft Launch Site in the country’s southern Hainan Province, has set a domestic record for the most spacecrafts launched by a single rocket.
Huawei Releases New Smart Office Products
Chinese consumer electronics and telecom giant Huawei held a launch conference for the release of seven products for online smart offices.
Battery Firm Sunwoda EVB Bags $380M From Investors Including Li Auto and SAIC Motor
On the evening of February 24, Chinese leading lithium-ion battery maker Sunwoda announced that its wholly owned subsidiary, Sunwoda Electric Vehicle Battery Co., Ltd. (Sunwoda EVB), received an investment worth 2.43 billion yuan ($380 million) from a total of 19 separate investors.
Tencent Acquires Game Developer 1C Entertainment
1C Entertainment, developer of the “King’s Bounty” game series, announced Saturday that it will be acquired by Chinese tech giant Tencent, with a final deal expected to be reached in late November of this year.