Pandaily's Digest | Nov 22, 2023
Editor's note: Douyu announced that its CEO and Chairman of the Board of Directors, Chen Shaojie, was arrested by Chengdu police around November 16th, 2023.
Douyu CEO Arrested for Alleged Crime of Operating a Gambling House
Chengdu Public Security Bureau released an announcement on November 22, stating that Douyu’s CEO and Chairman of the Board of Directors, Chen Shaojie, is suspected of running a gambling establishment. Link
Headlines from China
ByteDance Seeks to Sell Moonton for $5 Billion
ByteDance is seeking to sell its subsidiary gaming company, Moonton Technology, for a price not less than $5 billion, and has hired Goldman Sachs as a financial advisor to assist in finding and contacting potential buyers. Link
Cainiao IPO Is Proceeding As Usual
Although Cloud Intelligence Group has halted its spin-off and Freshippo's IPO plan has been postponed, Cainiao's IPO is proceeding as planned. Link
Xiaomi Reveals Progress in Car Manufacturing: Second Winter Test Coming Soon
On November 20th, Xiaomi held its financial report conference call. William Lu revealed the progress of Xiaomi's car manufacturing. Link
Tesla Raises Price in China, Again
On November 21, Tesla Model Y Long Range Version raised price to 304,400 yuan, an increase of 2,000 yuan. Link
News You Shouldn’t Miss
Trip.com Group Forms Partnership with China International Culture Association
On November 17, Trip.com Group signed a three-year MOU with the China International Culture Association to promote inbound tourism. Link
Jiang Fan: Alibaba International Continues Rapid Growth Despite Uncertain International Market Environment
Alibaba released its financial report for the quarter ended September 30th. Alibaba International Digital Commerce Group, or Alibaba International, exhibits the fastest growth rate among all six major business groups. Link
OnePlus 12 to be Released on OnePlus 10th Anniversary Event
On November 20th, OnePlus announced that it will hold a "10th Anniversary Fireside Chat" on December 4th. The OnePlus 12 will be unveiled at the same time. Link
NIO’s President Assures Company’s Stability Amid Market Concerns
"NIO will not go bankrupt, and there is absolutely no possibility of bankruptcy. Customers can keep their confidence in NIO's vehicles", said NIO President Qin Lihong at the Guangzhou Auto Show. Link
Texas Instruments Lays Off Its MCU Team in China
Texas Instruments has disbanded its MCU team in China, and relocated the entire MCU product line to India. Link
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