Pandaily's Digest #20220713
Following Boris Johnson's resignation and an updated national digital strategy, the UK's tech relationship with China is entering a new phase.
Sino-British Tech Relationship Faces Revamp With New UK Digital Strategy
Following Boris Johnson's resignation and an updated national digital strategy, the UK's tech relationship with China is entering a new phase.
“It is foreseeable that under the global wave of digital and green transformation, the complementary advantages between Chinese and British technology companies will create broad cooperation opportunities,” said John Edwards, the UK Trade Commissioner for China, at a conference last month on smart technology.
Ancient8: Bring the Masses to Web3 Through Games
Although Web3, blockchain and crypto have been trending on social media for a while, their user base is still very limited compared to the traditional internet. One strategy that has been widely implemented is to introduce concepts through something fun – for example, gaming.
Ancient8 is one of those guilds with a mission to reach, educate, and empower the first native generation of metaverse citizens on the blockchain.
Former Kuaishou Executive Tony Qiu Joins Meituan
Tony Qiu, the former head of Kuaishou’s International Business, has recently joined Meituan and temporarily serves as assistant to firm founder and CEO Wang Xing. It is not clear which business sector the former Kuaishou executive will be responsible for next, LatePost reported on July 12.
Large Commodity Trading Platform Gigacloud Technology Mulls Nasdaq Debut
Gigacloud Technology, a trading platform engaged in the export of large commodities, submitted documents to the United States Securities and Exchange Commission (SEC) on July 8, planning to list on the Nasdaq under ticker symbol “GCT.”
BYD Denies Warren Buffett’s Share Reduction
Warren Buffett-backed Chinese electric vehicle firm BYD saw its stock price suddenly fall sharply on July 12. At the same time, a share transfer has aroused the attention of market insiders. According to CCASS data, 225 million BYD shares were transferred to Citibank on July 11. Market insiders speculated from the transfer scale that these shares come from Buffett’s Berkshire Hathaway, an American multinational conglomerate.
BYD replied that while it can see an increase in Citibank’s shareholding at present, this doesn’t mean that Buffett is transferring the shares to Citibank. At present, Buffett’s shareholding has not changed.
Senior Executive of Huawei’s Intelligent Vehicle Business Resigns
LatePost reported on July 12 that Chen Yilun, the chief architect of the Intelligent Driving Product Department of Huawei’s Intelligent Vehicle Solutions Division, has recently resigned.
Cloud Human Capital Management Firm Beisen Applies for Hong Kong IPO
Beisen Holdings, a provider of cloud human capital management (HCM) solutions, submitted a prospectus to the Hong Kong Stock Exchange on July 11, with Morgan Stanley and CICC serving as co-sponsors.
CATL Tops Chinese Domestic Power Battery Installations in June
On July 11, the China Automotive Battery Innovation Alliance (CABIA) announced the top 15 domestic power battery installation enterprises in June. Among them, CATL ranked first with a proportion of 49.60%.
Qihoo 360 CEO: Partial Transfer of Hozon Auto Equity Not Due to Lack of Funds
Zhou Hongyi, the co-founder and CEO of internet security firm Qihoo 360, responded on the evening of July 11 to the issue of “transferring the 1 billion-yuan capital increase right of Hozon Auto” in an interview with Sina Tech.
According to Zhou, “If we continue to invest 1 billion yuan, we can further increase our shares. However, considering that the shareholder composition of Hozon Auto is very diverse, in order to enhance the voice of its founding team and support the company, we transferred the D2-round capital increase free of charge. The 1 billion-yuan capital increase right was given to the fund behind the founding team, and we became a concerted actor.”
ByteDance May Prepare to Develop Chips Independently
ByteDance, the owner of global hit short video app TikTok, is now looking to hire a large quantity of chip-related engineers. The company has reportedly been courting many experts from Huawei’s HiSilicon and Arm. Sources familiar with the matter said that ByteDance was preparing for independent chip development, according to a report by Chinese media outlet Chinastarmarket.cn on July 13.