Pandaily's Digest | Dec 27, 2023
Editor's note: Chinese social media and e-commerce platform Xiaohongshu, also known as Little Red Book, is set to far exceed its net profit forecasts for this year.
Xiaohongshu Denied IPO Speculation
Despite speculation from Chinese media outlets focusing on IPO news, Xiaohongshu has denied any immediate plans to go public. Link
Headlines from China
Huawei M9 EV Officially Launched
On December 26th, Huawei unveiled the highly anticipated M9 electric vehicle (EV) at a launch event held in Shenzhen. Link
Tencent NOW Live Ceases Operation and Is Kaken Down Today
On December 27th, Tencent's live streaming + short video + social platform - NOW Live has completely ceased operations and been taken down. Link
Luckin Coffee Opens Its 30th Store in Singapore
On December 25th, Luckin Coffee announced on social media that its 30th store in Singapore has opened. Link
Huya Acquires Tencent’s APKPure
Huya has reportedly acquired APKPure, an overseas app store previously owned by Tencent, for $81 million, aiming to strengthen its ability to promote and distribute gaming applications in international markets. Link
News You Shouldn’t Miss
NetEase and Blizzard Respond to the News of Re-Collaboration
NetEase responded by not commenting on the online rumors about a potential re-collaboration with Blizzard. And Blizzard stated that there is currently no information or updates to share. Link
ByteDance Launches Offline Service “Dongdong Car Care”
Under the ByteDance umbrella, Dongchedi has launched an offline car maintenance service called "Dongdong Car Care" in collaboration with authorized stores. Link
NiuTrans Helps Chinese Online Literature Go International
NiuTrans is an advanced machine translation service that can greatly help Chinese online literature go global. Link
Douyin Enhances Its Intelligent Search with the Testing of the ‘AI Search’ Feature
Douyin recently tested a new feature called 'AI Search' within its main app. This is an artificial intelligence-based search and question-answering service. Link
NIO Executive Flagship Sedan ET9 Now Available for Pre-order
NIO ET9 was officially launched on December 23rd and is available for pre-order at a starting price of 800,000 yuan. Deliveries will begin in the first quarter of 2025. Link
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