Phate Zhang

  • NIO's local rival Xpeng said to be in talks over $300 million in funding ahead of US IPO

    Chinese EV maker Xpeng Motors, backed by Alibaba, is in talks to raise around $300 million in funding ahead of an initial public offering (IPO) in the U.S., CNBC reported on Friday citing two sources familiar with the matter.

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  • SMIC to establish joint venture to produce 28nm ICs

    Semiconductor Manufacturing International Corporation (SMIC), China’s leading contract chip maker, announced in a filing on Friday that it has entered into a framework agreement with the Beijing Development District Administrative Committee to jointly establish a joint venture in China to develop and operate an IC project.

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  • What is the difference between Li Auto and NIO?

    Chinese electric vehicle (EV) maker Li Auto closed at $16.46 on its first day of trading on Thursday in the U.S., up 43 percent. Li Auto's market capitalization reached $13.9 billion, trailing its local rival NIO's $14.4 billion.

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  • Report of Alipay, WeChat Pay facing possible antitrust probe is 'rumor', Chinese media says

    Reuters today reported that China's antitrust agency is studying whether to launch an anti-monopoly investigation into WeChat Pay and Alipay.

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  • OnePlus again becomes top vendor in India's premium smartphone market

    Thanks to its latest flagship OnePlus 8 series 5G and a price cut on the OnePlus 7T series, OnePlus regained its top position in the India premium smartphone market  (>$400) with 29% share in the second quarter, just nudging out Samsung, according to market research firm Counterpoint.

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  • China's smartphone market posts 25% growth in Q2 from Q1

    The smartphone market in China saw a 25% quarter-on-quarter growth to reach over 90 million sell-in units in the second quarter, despite the market contracting 7% compared to the same period last year, according to market research firm Canalys.

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  • Alipay, WeChat Pay facing possible antitrust probe in China, report says

    China’s top antitrust agency is looking at whether to launch a probe into Alipay and WeChat Pay, Reuters reported on Friday citing sources with knowledge of the matter. 

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  • TikTok owner ByteDance said to consider listing China business in HK or Shanghai

    ByteDance, the owner of popular short video app TikTok, is considering listing its domestic business in Hong Kong or Shanghai, Reuters reported on Friday citing people familiar with the matter, who added the company prefers Hong Kong.

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  • Alibaba Cloud completes three new super data centers, will add over a million servers

    Alibaba Cloud, the biggest cloud service provider in China by market share, today announced the opening of three super data centers in Nantong, Hangzhou and Ulanqab that will add over a million servers.

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  • Alibaba-backed EV maker Xpeng said to plan US IPO in August

    Chinese EV maker Xpeng Motors, backed by Alibaba, plans a $700 million U.S. IPO in August, according to IFR, a Reuters media outlet.

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