Pandaily's Digest | Dec 1, 2023
Editor's note: On November 28th, Pinduoduo released its third-quarter financial report for 2023.
Pinduoduo Q3 Financial Figures Exceed Market Expectations
Pinduoduo's revenue reached 68.84 billion yuan in Q3, 2023, a 93.9% increase from the same period last year, nearly doubling, and a net increase of nearly 16.6 billion yuan from 52.281 billion yuan in Q2, far exceeding market expectations. Link
Headlines from China
ByteDance Launches Large Model Product “ChitChop”
TikTok's mother company launched a large-scale product called "ChitChop". Link
CATL’s Skateboard Chassis Set for Mass Production Next Year
CATL's "skateboard chassis" has achieved a technological breakthrough, and will be mass produced as early as the autumn of 2024. Link
Sunyard Issues A Clarification Announcement, Stating that There Has Been No Business Dealings with Pika
Sunyard released a clarification announcement stating that Demi Guo, one of the founders of Pika, is the daughter of Sunyard’s actual controller Guo Huaqiang. Apart from this relationship, there are no other connections between Sunyard and Pika. Link
BMW and Mercedes-Benz Establish A Joint Venture in China to Build A Supercharging Network
BMW and Mercedes-Benz will establish a joint venture company in China to operate a supercharging network in the Chinese market. Link
News You Shouldn’t Miss
OKKI AI, under the Alibaba.com, Is Now Online
OKKI, the foreign trade SaaS tool under the Alibaba.com, will officially launch its AI version on December 1st. Link
Tesla Global VP Grace Tao: Tesla’s Development Relies on Local Supply Chain Support in China
Recently, Grace Tao, Vice President of Tesla Global, emphasized the importance of the Chinese supply chain for Tesla's development in an interview with the media. Link
NVIDIA CEO Reaffirms Plans to Return to the Chinese Market
On Wednesday, Jensen Huang, CEO of Nvidia, reiterated the company's commitment to the Chinese market at the 2023 DealBook Summit. Link
Geely Holding and NIO Sign A Cooperation Agreement on Battery Swapping Business
On November 29, 2023, Geely Holding and NIO signed a strategic cooperation agreement on battery swapping in Hangzhou. Link
VMware Is Acquired by Broadcom, Employees in China May Receive New Contracts or Severance Pay
Broadcom has acquired VMware for $69 billion. Recently, there have been reports that the Beijing branch of VMware is undergoing trademark changes and personnel adjustments. Link
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