Financial Report

It achieved revenue of $47.24 million in the fourth quarter, a 136.5% jump year-on-year, and has achieved year-on-year growth rates of more than 100% for five consecutive quarters.

Chinese tech giant Tencent's fourth-quarter revenue rose 26 percent year-on-year to RMB 133.67 billion ($20.5 billion), in line with market expectations.

Xiaomi sold 42.3 million smartphones in the fourth quarter, up 29.7 percent year-on-year.

Its gross margin for the quarter was 85.0%, compared to 83.7% in the same quarter last year. On a non-GAAP basis, net income for the quarter was RMB 62.2 million.

Pinduoduo's shares expanded more than 6 percent in pre-market trading after the earnings report. But the shares quickly plummeted after Huang announced his resignation as chairman, turning down 3.6 percent.

Chinese communications firm ZTE reported total revenue of RMB 101.45 billion ($1.56 billion) in 2020, up 11.8% year-on-year.

Hong Kong-based stockbroker Futu Holdings reported total revenue of $153 million in the fourth quarter of 2020, up 282% year on year, marking its fourth consecutive quarter of triple-digit growth.

JD.com's adjusted earnings per ADS for the fourth quarter were RMB 1.49, above Wall Street analyst estimates of RMB 1.24.

The company sold 150,465 electric scooters in the fourth quarter, up 41.6 percent from a year earlier, partially offsetting an 11.5 percent decline in the average sales price of electric scooters from a year earlier.

Chinese technology giant NetEase reported fourth-quarter revenue of RMB 19.76 billion, up 25.6 percent from a year earlier and in line with analyst estimates of RMB 19.67 billion in a Bloomberg survey.