newsMajor Ant Group investors exit Chinese fintech giant’s share buyback plan · TechNode
A number of global investors have elected not to participate in Ant Group’s share buyback scheme as the Chinese fintech giant’s valuation slumped more than 70% prior to its planned…
BYD hires former Baidu, Horizon Robotics engineer to make EVs more intelligent · TechNode
BYD has hired a former director from Volkswagen-backed technology firm Horizon Robotics to head its regional intelligent driving branch in Shanghai, as the Chinese electric vehicle giant ramps up its…
Foxconn to exclusively supply Apple’s AI servers: report · TechNode
Foxconn, Apple’s biggest supplier, has secured an exclusive order to supply Apple’s AI servers, which will ship from the company’s Vietnamese factory, Taiwanese media outlet Economic Daily News reported on…
Douyin generates RMB 100 billion in local services sales in H1: report · TechNode
TikTok’s Chinese counterpart, Douyin, reportedly achieved RMB 100 billion in local services sales between January and June, representing over a quarter of its sales target for this year, according to…
iMile Delivery enters Italy, becomes first Chinese delivery startup to enter Europe · TechNode
Cross-border logistics company iMile Delivery has recently entered the Italian market and established its European headquarters in Germany, becoming the first Chinese express delivery startup to enter Europe, according to…
China releases draft regulations on facial recognition technology · TechNode
On August 8, China’s cyberspace regulator announced the release of draft regulations aimed at overseeing the security management of facial recognition technology within the country. The Cyberspace Administration of China…
Bertelsmann Investments commits $700 million to Chinese start-ups and tech groups · TechNode
Bertelsmann Investments, one of Germany’s largest venture capital funds, is planning a $700 million investment in Chinese start-ups, according to the Financial Times. Carsten Coesfeld, CEO of Bertelsmann Investments, told…
Antfin sells 10.3% of $628 million Paytm stake to company’s CEO · TechNode
Antfin (Netherlands) Holding B.V., a subsidiary of Chinese fintech giant Ant Group, is set to sell 10.3% of its Paytm stake, valued at $628 million, to Paytm’s founder and chairman…
WeChat rolls out pinned post feature · TechNode
China’s ubiquitous WeChat app has often seemed slow to make changes to its popular interface. In recent months, the frequency of WeChat updates has increased. It has now rolled out…
Chery becomes first automaker to use Huawei’s latest OS · TechNode
The first car model featuring the latest version of Huawei’s proprietary Harmony operating system will take the form of an electric sports sedan, scheduled for release in the third quarter…
