Pandaily's Digest #20220328
Luckin Coffee on Thursday announced its unaudited financial results for the three months ended December 31, 2021 and entire fiscal year.
Luckin Coffee Reports $1.25B Revenue in 2021
Luckin Coffee on Thursday announced its unaudited financial results for the three months ended December 31, 2021 and entire fiscal year.
JD Logistics Raising $398M Through New Share Placement
Chinese e-commerce giant JD.com on Thursday announced that its logistics arm has entered into a placing agreement, pursuant to which JD Logistics has agreed to issue 150,500,000 of its ordinary shares to a group of third-party investors for a total purchase price of $398 million in a placement.
Shell and BYD to Cooperate with Electric Vehicle Charging
Global energy and petrochemical company Shell and Chinese electric vehicle maker BYD signed a global strategic cooperation agreement on Wednesday to jointly enhance the charging experience for BYD’s pure electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) customers. The two companies will begin their partnership in China and Europe and then expand globally.
CATL to Establish First Zero-Carbon Battery Plant
Leading Chinese power battery firm Contemporary Amperex Technology Co., Limited (CATL) announced on Thursday that it will establish the world’s first zero-carbon battery factory in Yibin, Sichuan province. The company added, “The Yibin factory is only the starting point, and we will use the advantages of ‘lighthouse factory’ to achieve carbon neutrality in our bases across the world, one after another.”
Baidu to Launch Autonomous Ride-Hailing Service in Zhejiang
Baidu’s Apollo Go autonomous ride-hailing service will officially land in a popular hotspot in Wuzhen, Zhejiang Province on Saturday.
Semisight Secures Millions from Angel Investors
Recently, Semisight announced the completion of an angel round of investing worth of tens of millions of yuan. The deal was by Hui Capital and followed by Plum Ventures. The influx of funds into the company will be used for upgrading logic simulations, logic synthesis, safety and reliability simulation team building, and brand promotion.
Taobao Tests WeChat Pay Option
The mobile app of Taobao, a leading Chinese online shopping platform operated by Alibaba, has begun to provide the option to use Tencent’s WeChat Pay. Although the payment function currently does not support automatically shifting between Taobao and WeChat, the development marks a key step towards the greater integration of payment services offered by Chinese internet giants. However, this feature is still in the alpha testing stage, and only some users have been able to access it.
Shopastro Surpasses $10M in A-Round Financing
On Monday, 36Kr reported that Shopastro, a full-link service provider for Chinese brands operating in overseas markets, has recently received over $10 million in round-A financing. The leading investors were GL Ventures and a major US dollar fund, while its angel round investors, Blue Lake Capital and Shenjin Capital, also joined in this round.
DJI Drones Taken Off Shelves of Germany’s Top Electronics Retailer
German media reported recently that MediaMarkt, the largest electronics retailer in the country, has removed drones made by Chinese firm DJI from its shelves. DJI issued a statement on Monday, alleging that this was because the company and many of its partners were attacked by spammers last week.
WeLion New Energy Cooperates With NIO in Battery Production
Beijing-based WeLion New Energy is working with electric vehicle maker NIO to launch a hybrid solid-liquid electrolyte battery with a range of 1,000 kilometers on a single charge and based on the ET7 model. The announcement was issued by Li Hong, chief scientist and founder of the solid-state battery supplier WeLion, during comments at the China EV 100 Forum. This battery is expected to enter mass production by the end of this year or the first half of next year.