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NIO's local rival Li Auto raises $1.1 billion in US IPO with $10 billion valuation
Chinese electric vehicle maker Li Auto has priced its American depositary receipts at $11.5 each in an initial public offering (IPO) on Nasdaq that will raise U$1.1 billion.
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Huawei smartphone shipments exceed Samsung to rank No. 1 in Q2, says Canalys
Huawei shipped 55.8 million smartphones in the second quarter, supposing Samsung's 53.7 million to become the world's biggest smartphone vendor for the first time, according to a report by market research firm Canalys.
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Tesla supply chain in China can't be seen as another Apple chain, official media says
With Tesla's rapid development in China, many believe that the Tesla supply chain is the next Apple chain, which will create a rapid take-off of suppliers. But an opinion piece in the official media Securities Times today says that in reality, this idea is too simplistic.
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Tencent has invested in over 800 companies, 160 are unicorns
To date, Tencent has invested in more than 800 companies, of which more than 70 have gone public and more than 160 are unicorns with a market capitalization or valuation of more than $1 billion.
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Half of phones applying for regulatory approval in China in Q2 are 5G phones
In the second quarter of 2020, China's mobile phone market continues to transition from 4G to 5G, with 5G phone models accounting for more than half of the total, according to a report by the China Academy of Information and Communications Technology (CAICT), a government think tank.
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Chinese auto maker GAC says its technology allows EVs to exceed 1,000 km range
Chinese automobile maker GAC Group said today it has achieved an energy density of 275 watt-hours per kilogram of square hard-shell cells using a new silicon anode material technology, enabling electric vehicles equipped with such batteries to have a range of more than 1,000 kilometers.
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WeChat Pay becomes available in Turkey
WeChat Pay, the financial payment service arm of Chinese tech giant Tencent, is now available in Turkey, according to Xinhuanet.com.
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Chinese firm launches new SSDs with Yangtze Memory 3D NAND
Shenzhen-based Powev Electronic Technology Co., Limited today announced the release of its Gloway Yi Series SSDs, powered by Yangtze Memory 3D NAND.
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ByteDance investors reportedly value TikTok at $50 billion in takeover bid
Some investors of TikTok’s parent company ByteDance seeking to take over the video app are valuing it at about $50 billion, 50 times its projected 2020 revenue of about $1 billion, Reuters report Wednesday citing people familiar with the matter.
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Xiaomi brings in communications industry veteran as vice president
Xiaomi Group today announced that Zeng Xuezhong has been appointed as its Vice President and President of the Mobile Phone Division, responsible for the development and production of mobile phone products and reporting to Chairman and CEO Lei Jun.