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Suning issues USD 750 million in new shares to expand convenience stores

The move comes just after competitor Bianlifeng upped its registered capital.

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It’s its second horse in the race to challenge WeChat. Tencent might hit back.
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ByteDance launches new social app to challenge WeChat
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It’s aggregating several smaller players on its platform hoping to create synergies with its other services
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Meituan expands its ride-hailing service to 15 cities with one smart move
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Baidu is in urgent need to find a new frontier and smart speakers are very good entry points for their services
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Baidu dethrones Alibaba as China’s top smart speaker vendor in Q1 2019
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Prowler.io, an AI company from Cambridge, England has raised USD 24 million (RMB 166 million) in funding at a USD 100 million (RMB 691 million) valuation, with Tencent leading the round, Bloomberg re
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Both the founder and CEO are being investigated for securities fraud.
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Financial scandal engulfs Chinese gaming company Kingnet
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With more capital, the company can attract new investors or take on loans
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Tencent-backed convenience store Bianlifeng ups registered capital by 50%
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Huawei’s supply chain under pressure as major chipmakers stop delivering
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