NewsCHINA BRIEF | Alibaba-backed EV maker Xpeng Motors to kick off USD 700 million US IPOThe move follows EV maker Li Auto’s strong Nasdaq debut. 1 min read
Li Auto is the second China-based EV maker to go public in the US, following Nio. NewsHybrid EV maker Li Auto soars nearly 50% on Nasdaq debut after raising USD 1.1 billion in IPO2 mins read
In 2019, 10% of all deliveries in China utilized smart lockers. NewsCHINA BRIEF | ZTO Express acquires Haier’s smart locker unit at USD 30 million1 min read
Shushi was founded in June 2020 by Li Kefeng, a former JD.com VP and general manager for Baidu’s mobile business. NewsCHINA BRIEF | Tencent pours USD 14.2 million in digitization solution provider Shushi in angel round1 min read
Over 1,000 shops that buy goods on Lingshoutong have made more than RMB 1 million (USD 142,686) in net profits. NewsMom-and-pop stores beat 11% of Chinese listed companies in profitability2 mins read
Wang Xing, founder and chairman of Meituan, seemed to call out Alibaba on social media over the fact Taobao users cannot pay with WeChat. NewsCHINA BRIEF | Meituan removes Alipay for payments as chairman calls out Alibaba1 min read
This marks a significant increase compared with one year ago. NewsCHINA BRIEF | Online education company Koolearn Technology predicts USD 114 million net losses in 20201 min read
EF will retain significant ownership in the business, which has been operative for more than 20 years and built 288 schools across 62 cities in China and 79 schools in Indonesia. NewsEF sells stake of kids’ education business to Permira to further expand in China2 mins read
Wei-Ying Ma will join an institute being founded by Baidu’s former president Zhang Yaqin inside the Tsinghua University. NewsByteDance’s top AI scientist resigns amid TikTok’s global setbacks2 mins read
