Pandaily’s Digest #20221118
The cumulative number of layoffs in the technology industry so far this year is now estimated to have exceeded 100,000, most of which are concentrated in US firms such as Meta, Twitter, Lyft.
Chinese Tech Community in Silicon Valley Faces Dark Cloud of Layoffs
The cumulative number of layoffs in the technology industry so far this year is now estimated to have exceeded 100,000, most of which are concentrated in US firms such as Meta, Twitter, Lyft and others, according to statistics from Layoffs.fyi. The dark clouds are gradually expanding beyond tech into other fields such as finance, media and entertainment.
Blizzard Halts Game Services in China as Licenses With NetEase Expire
Blizzard Entertainment, a leading game developer and publisher based in California, announced on November 16 that it will be suspending most game services in mainland China due to the expiration of current licensing agreements with China’s NetEase on January 23, pushing NetEase‘s stock price down by more than 13%.
Fields Medal Winner Terence Tao Comments on Yitang Zhang’s Landau-Siegel Zeros Conjecture Paper
Terence Tao, an Australian mathematician and winner of the Fields Medal, said on November 14 that he had read the recent paper by Yitang Zhang on proving the Landau-Siegel zeros conjecture. Tao commented that the basic accuracy of the paper has not yet been confirmed, and there are some printing errors and technical problems that have been forwarded to Zhang for clarification.
Co-CEO of Alibaba-Backed IM Motors Comments on Recent Tesla Accident in China
Liu Tao, the co-CEO of Alibaba-backed IM Motors, commented on November 17 regarding a recent fatal incident involving a Tesla vehicle in China. The executive said he believed that the Amercian EV maker had resorted to incredible excuses and even caused vehicle owners to monitor brake pedals with cameras.
Alibaba Delays Primary Hong Kong Listing as Revenue Growth Slows
Hangzhou-based internet giant Alibaba stated on November 17 that it will not complete a primary listing in Hong Kong before the end of the year as initially planned. This delay comes as the firm struggles with slowing growth at home.
Chinese Game Makers See Stock Prices Increase after State Media Recognizes Value
On November 16, People’s Daily, one of China’s official media outlets, published an article entitled “the opportunity in the gaming industry cannot be missed”, saying that video games have already become an industry of great significance to a country’s industrial development and technological innovation. The news sent stock prices of Chinese game makers in Hong Kong shooting upwards. XD Inc. rose by 17%, CMGE Technology rose by 10%, Bilibili and iDreamSky rose by over 6%, and Netease and Tencent rose by about 3%.
Amazon Web Services Reportedly Conducting Secret Business in Chinese Cryptocurrency Field
Several Amazon insiders told PingWest recently that various blockchain projects with unclear entanglements in virtual currency serve as the revenue pillars for Amazon Cloud Services (AWS) in China. Amazon China is apparently using a well-designed system to hide these projects, which are strictly prohibited by the Chinese government, under the guise of AWS.
Tencent Says Joint Venture With China Unicom Important to Set Up
On November 16, at its third quarter performance meeting, a senior executive of Chinese Internet giant Tencent responded to questions related to the establishment of a joint venture with China Unicom, a Chinese state-owned telecommunications operator.
China’s Yiwu Supplies 70% of Soccer-Related Products for Qatar World Cup
Chinese goods from the city of Yiwu in Zhejiang Province, one of the world’s largest commodity hubs, will not miss the quadrennial World Cup. The FIFA World Cup Qatar 2022 is about to start and a large number of soccer-related products such as footballs, flag strings, national flags, horns, trophies and medals originating from Yiwu have been sent to fans all over the world.
Chinese NEV Brand Voyah Secures Round-A Financing Worth $702M
On the evening of November 17, Voyah, a high-end new energy vehicle brand under Chinese state-owned automobile manufacturer Dongfeng Motor, announced its completion of round-A financing. The carmaker raised nearly 5 billion yuan ($702.3 million) in this round, and its post-financing market valuation was nearly 30 billion yuan.