China Tech News

Chinese bike-sharing giant HelloBike, backed by Ant Group, has confidentially filed for a U.S. IPO.

TCL smart screen products carried Baidu Honghu voice chip, driving Baidu chips' mass production in the household appliance industry.

Tencent-backed WeDoctor, a health-tech app, will submit the IPO application in HK for at least $1B.

Shares of Chinese short video company Kuaishou, the rival of TikTok in Chinese rural markets, rose nearly 200% at its debut of IPO in HK.

Zhihu, the Chinese Quora-like Q&A platform, has planned its IPO in HK or the US.

Some of Ant Group’s global investors re-valued it at $200B+, far below the $315B it wanted to be sold initially as the world’s largest IPO.

Vanguard Group has halted a mutual-fund business in China, but instead initiated a joint venture with Ant Group, aiming to deliver financial advice services.

ByteDance might develop semiconductors, representing Chinese tech giants' tendencies to rely less on foreign chip producers.

JD, with growth driven by COVID-19, revealed its latest 4th-quarter revenue of $115B, beyond analysts’ estimation.

Meitu, a Chinese company that makes a photo editing app, has purchased bitcoin and ether, becoming the latest firm to buy cryptocurrencies.

Hong-Kong based fintech firm Kiwi Pay Group announced a merger with Cambodian food and grocery delivery startup Meal Temple Group to build a super app.

Surreal integrates machine learning technologies to make better videos and photos, getting $2-3M seed.

The ride-hailing firm Didi plans its IPO in New York, eyeing a valuation of $100B+.

Didi navigates new markets in Europe (i.e. the UK, France, and Germany), Africa (i.e. South Africa), and the Middle East, considering their stable markets and economic potential.

Despite it went IPO with $1.4B this January, RLX Technology stock sank 45%, due to regulations on the e-cigarette industry referring to its health risks overlooked.

Pinduoduo has 788.4M users at the end of 2020, ahead of Alibaba’s 779M.

Aiming to collaborate on digital banking, WeLab raises $75M by Allianz, the European financial advisory and insurance giant.

Around 70% of Chinese executives think Chinese companies will become more competitive in the face of European and American companies than before.