Pandaily's Digest #20221116
With increasingly fierce competition in the Chinese tea-based beverages market, more and more domestic enterprises are turning their attention overseas.
Chinese Tea Brands Including Mixue and HeyTea Eye Southeast Asia
As early as 2011, Chinese milk tea brand CoCo opened its first store in New York. In September 2018, the first overseas store of Mixue was also established in Vietnam, where it now has more than 200 stores. HeyTea and Nayuki followed closely behind, and in November of the same year, their first overseas stores were settled in Singapore.
HUYA 2022 Q3 Earnings Analysis: Efforts in Technology Advancement, Product Upgrade and Quality Content Help Improve Huya’s Resilience in Uncertain Environment
China’s major game live streaming platform Huya Inc., has announced its third quarter 2022 financial results on November 15. Although the macro and regulatory sentiment has kept evolving that could impact the live streaming industry as a whole, Huya has recorded quarter-on-quarter growth in the total net revenues and net income, with the average mobile MAU of Huya Live increasing steadily to 86 million.
Tencent Invests in Electric Bicycle Firm Tenways
One of Tencent’s investment affiliates recently took a stake in ShenZhen Tenways Technovation Limited, a manufacturer of electric bicycles. The registered capital of the company increased 38.8%, from about 19.2857 million yuan ($2.7 million) to about 26.7669 million yuan ($3.8 million).
“No tableware” Orders Reach 1.3 Billion on Ele.me, Driven by Carbon Emission Reduction Advocation
The orders with the “No tableware” option have reached 1.3 billion on Ele.me, according to its president Yongxin Fang. It is equivalent to reducing the use of more than 6,000 tons of wood and more than 3,000 tons of plastic.
How Are Traditional Chinese Carmakers Like Geely Outperforming NIO, XPeng and Li Auto?
According to October delivery data, NIO, XPeng Motors and Li Auto, the leading trio of Chinese EV manufacturers, are no longer champions in the market, as they have now been overshadowed by new energy sub-brands of traditional vehicle firms such as Aion, AITO and Zeekr.
BYD Semiconductor Terminates IPO to Prioritize Wafer Production Expansion
On November 15, BYD terminated the listing of its subsidiary BYD Semiconductor, as its wafer production capacity is still far from meeting demand. Priority will now be given to large-scale wafer production capacity investment, and the company says it will start the listing process again at an appropriate time.
Defendant in ETH Theft Case in China Sentenced to Over 10 Years in Prison
The defendant in a cryptocurrency theft case in Southeast China has been sentenced to 10 years and six months in prison and fined 200,000 yuan ($28,240).
OPPO, Xiaomi, OnePlus, Other Chinese Smartphone Firms to Adopt Snapdragon 8 Gen 2
During the Snapdragon Summit 2022, Qualcomm Technologies introduced its latest premium mobile platform, the Snapdragon 8 Gen 2. This new product is set to be adopted by many Chinese smartphone brands, including OPPO, Honor, iQOO, Motorola, Nubia, Red Magic, OnePlus, vivo, Xiaomi, Geely-backed Meizu, ZTE, and more.
Chinese EV Maker XPeng Motors Denies Price Reduction Rumors
Recently, it was reported that XPeng Motors, a Chinese new energy vehicle manufacturer, was going to follow the move. Aside from the latest G9 SUV model, the final payment of G3i, P5 and P7 models would be reduced by 14,000-20,000 yuan ($1,991 – $2,844). At the same time, some vehicles that have been in storage for a long time will be offered at special discounts.
DJI Expected to Release New FPV Goggles and O3 Air Unit
A person familiar with the matter said that DJI, a Shenzhen-based drone firm, will release a new model in its Air lineup in the near future, along with a new FPV goggles with Lite in its official name, according to a report by Chinese media outlet DealsDrone on November 15.