Pandaily’s Digest #20220921
Shopee, an e-commerce platform owned by Singapore’s Sea Limited, told employees on September 19 that it would start a new round of team changes and cut some jobs around the world.
Sea’s E-commerce Platform Shopee Cuts Staff in China
Shopee, an e-commerce platform owned by Singapore’s Sea Limited, told employees on September 19 that it would start a new round of team changes and cut some jobs around the world, Bloomberg reported. According to one Shopee employee in Shenzhen, Guangdong Province, posting on Chinese job information sharing platform Maimai, the company has reduced at least one business line to a third of what it was.
According to Bloomberg’s report, Shopee will cut about 3 percent of its employees in Indonesia as part of the restructuring, which involves marketing, operations and technology teams. According to people familiar with the matter, the main purpose of this adjustment is to slim down the organization and improve its efficiency. The group intends to cut its headcount at Shopee Indonesia by “a low-single-digit percentage,” while business operations in each market will not be affected.
BYD Electronics and Six Other A-Share Listed Firms Obtain E-Cig Licenses in China
China’s new national standards for e-cigarettes are set to go into effect on October 1. So far, seven A-share listed companies have obtained licenses through their subsidiaries for the production, sale, import and export of e-cigarettes.
The seven companies include BYD Electronics, cigarette packaging brand Jinjia Group, new environmentally friendly packaging material company Shunho, automotive firm Dongfeng, lighting product developer Xiaosong, electronic component maker Jinlong Machinery & Electronics and medical group Jincheng Pharm.
Tencent Denies Reported Plan to Cut Stakes in Meituan, Beike and Didi
Reports have emerged recently claiming that Tencent Holdings is considering a reduction of its shares in Meituan, Beike, Didi and other companies, in order to provide funds for its stock repurchase and new business ventures. On September 20, a spokesperson for Tencent responded that it did not have any such plan, timetable or target amount for reducing its holdings, adding that the firm does not need to sell any of its shares in order to carry out the repurchase, for which current cash flows can provide sufficient funds. Moreover, the spokesperson assured, the firm has not contacted any investment banks about reducing its holdings.
TikTok’s Answer to BeReal Is Yet to Be Tested Beyond Now
The 2022 social media landscape in a nutshell: Facebook trying hard to be Instagram, Instagram trying hard to be TikTok, and TikTok trying hard to be BeReal.
As TikTok moves into major marketing territories with more paid and overly crafted content, its newborn sibling has become the hottest kid in town: TikTok Now.
Leapmotor to Raise $1B in Hong Kong IPO, Starts Trading on September 29
On September 20, Leapmotor, a Hangzhou-based smart electric vehicle brand, announced through the Hong Kong Stock Exchange (HKEx) that it will issue 131 million shares at a price of HK $48 to HK $62 ($6.12 – $7.9) per share. It will start trading on September 29. Given the upper limit price of HK $62, the market value of Leapmotor is about HK $70.848 billion ($9.03 billion), and the highest fundraising through this IPO could be as much as HK $8.1 billion ($1 billion).
Institute in Shanghai Unveils Self-Developed Web3 Operating System
On September 21, the Shanghai Tree-Graph Blockchain Research Institute released Conflux OS, a new self-developed operating system that provides underlying code support for the cultivation of a Web3 application ecology and the development of China’s metaverse industry.
Yang Guang, the research director of the institute, said that in contrast to the common practice of dividing generations by technical indicators, the distinguishing features of Web1, Web2 and Web3 lie in the forms of data generation and processing.
From Creation to Value: Understanding Huang Yuxing’s Blue Chip NFT Series “Meta-Morphic”
Art NFTs are bringing about a new wave of collectors, a closer relationship between artists and their community, and a greater appreciation for digital and generative art practices. However, the vastness of the NFT market can make it challenging to discover top artworks. LiveArt provides a curated experience for discovering and purchasing artworks.
LiveArt’s team brings decades of experience in the art industry, as well as cutting-edge Web3 practices. Since its establishment, LiveArt has successfully launched popular events such as the LiveArt Membership NFT and the LiveArt X Global 100.
Tesla China Expands Production Again
According to the Environmental Information Release Platform of Shanghai Enterprises and Institutions, a production line optimization project for the second stage of Tesla Gigafactory Shanghai (Phase I) was completed on September 1, as reported by Beijing News on September 19. Tesla is mainly increasing the production cycle of its existing factory to realize optimization.
Realme Gauges Interest in Launching Screen Feature Like iPhone’s Dynamic Island
Chinese smartphone manufacturer realme has asked its users around the world to share opinions and suggestions on whether the firm should adopt a design similar to Apple’s new “Dynamic Island” feature on the iPhone 14 Pro and iPhone 14 Pro Max.
“The UI around the camera hole could morph into different shapes and sizes to display incoming phone calls, alerts, notifications and more, just like Apple’s Dynamic Island,” realme said. The company finds this idea quite appealing and has decided to turn to its user community for ideas and suggestions on how such a software feature could be implemented on realme devices.
Equipped With Snapdragon 7 Gen 1, Xiaomi Civi 2 Is Coming Soon
On September 20, Hu Xinxin, Product Manager of Xiaomi’s Civi brand, posted on Chinese social platform Weibo that the Xiaomi Civi 2 smartphone is “coming soon.” Moreover, the smartphone model information shown beside this post indicates that Hu is using the new Xiaomi smartphone model.
Earlier, a digital tipster on Weibo named “Digital Chat Station” wrote that the Xiaomi Civi 2, codenamed “Ziyi”, is equipped with MIUI v13.0. 1.0. SLLCNXM system based on Android 12. This model is expected to see new breakthroughs in design while continuing the thin and light features of its previous generation’s models.