Pandaily's Digest #20221026
Earlier this month, Chinese food delivery giant Meituan was reported to be preparing a new project for the Hong Kong market. A recent recruitment notice has indirectly verified the rumor.
What Will Meituan Face When Entering Hong Kong’s Food Delivery Market?
In early October, several media reports emerged claiming that Chinese food delivery giant Meituan was preparing a new project for the Hong Kong market led by Tony Qiu, the former head of Kuaishou’s internationalization division. The company has not yet made any official comments on the matter, but a recent recruitment notice has indirectly verified the rumor that it is about to explore Hong Kong’s food delivery market.
Chinese Chip Startup Biren Technology Cuts Staff Due to TSMC Supply Suspension
Taiwan Semiconductor Manufacturing Company (TSMC), a computer chip contract manufacturing and design firm, has decided to suspend production of advanced silicon for Chinese startup Biren Technology, in order to ensure compliance with US regulations, Bloomberg reported on October 23. On the same day, news emerged that one-third of Biren’s employees will be laid off.
WeRide and Hyundai Motor to Build Demonstration Zone for Driverless Hydrogen Cars
Chinese automated driving startup WeRide reached an agreement on October 25 with HTWO, a hydrogen fuel cell system brand under Hyundai Motor, and Guangzhou Hengyun Enterprises Holding to cooperate in the field of hydrogen-powered unmanned driving.
Geely’s Farizon Auto Breaks $300M in Pre-A Round Financing
Geely-owned new energy vehicle brand Farizon Auto on October 26 announced its completion of pre-A round financing totaling over $300 million, led by Hidden Hill Capital which is backed by Singapore’s Global Logistics Properties Ltd. Other key investors include Transfar, Citic Securities Investment, Industry Foundation of Xiangtan (Hunan, China), GLy Capital and Mirae Asset.
Crypto Mining Firm Canaan Launches Cutting-Edge Bitcoin Mining Rigs
Chinese crypto mining rig manufacturer Canaan Inc. on October 24 launched the Avalon Made A13 series, a new generation of bitcoin mining machines.
Powered by advanced ASIC technologies, the new A13 series will include two different models with enhanced computing power and improved power efficiency compared to its predecessors. The A1346 model features a hash rate of 110 TH/s and power efficiency of 30J/TH. The A1366 model, on the other hand, is equipped with a hash rate of 130TH/s and power efficiency of 25J/TH. Interested buyers need to fill out a “cooperation consultation” form in order to inquire about purchasing the new A13s
OnePlus x Genshin Impact: Hu Tao Ace Pro Smartphone Unveiled for $588
On the evening of October 24, OPPO’s smartphone brand OnePlus released a limited edition of Ace Pro model co-branded with popular mobile game Genshin Impact. The new device has a theme related to Hu Tao, a playable Pyro character in the game. The HyperBoost engine has been specially designed for the game alongside Genshin Impact’s developer miHoYo, with an exclusive tuning plan to realize continuous optimization of new versions of Genshin Impact.
Meizu Confirms Recruitment for Vehicle Manufacturing
Meizu, a Chinese smartphone manufacturer, posted a job recruitment notice in the automotive field on a domestic recruitment website. The job notice seems to indicate that the smartphone maker will enter the vehicle manufacturing field. Victor Yang, Geely’s Senior Vice President of Public Relations and Communication, issued a more explicit response in which he called reports of Meizu entering the car manufacturing field “a misunderstanding,” adding that “Meizu will not make cars, but will provide services for car companies.”
Real-time Interactive Service Provider Agora to Lay Off 30% of Employees
Agora, a Nasdaq-listed real-time voice and video engagement service provider, is carrying out a business adjustment with the “optimized” proportion of personnel positions to be about 30%, according to a report on October 25 by STAR Market Daily, who confirmed this news with people familiar with this matter. Some insiders pointed out that the online education business, also the pillar business of Agora, has performed poorly in recent years, while other Internet giants have entered the voice and video cloud field, which has greatly impacted Agora‘s development.
CATL, BYD, and Other Chinese Power Battery Makers Compete in European Market
In August 2022, the global installed power battery capacity was 45.7 GWh, up 90.3% year-on-year, according to statistics released by South Korean market research institution SNE Research on October 6. Of the top ten companies, six were from China, including CATL, CALB, Gotion Hi-Tech, Sunwoda and SVOLT, with a total market share of 58.1%. With the production and sales of new energy vehicles in China hitting record highs, Chinese power battery makers are rewriting the competitive pattern of the global battery market.
Li Auto’s AI Algorithms Team Leader to Leave Post
Simon Wang, the head of AI algorithms for intelligent driving and the chief scientist for AI at Li Auto, will leave his job in the near future. Wang is mainly responsible for the research and development of AI algorithms for applications such as intelligent driving perception and maps, 36Kr reported on October 25.