China business

Daily Digest

June, 2021

June.30, 2021

1. Chinese apps TikTok, Tencent Video, iQiyi among world’s top-earning apps in first half of 2021

2. Chinese CPU designer Loongson seeks to raise $500m in STAR Market IPO

3. China’s Tingyun, which specialises in developing applications for companies, nets $77m in Series D round

4. Chinese Autonomous Driving Company Holomatic Completes B1 Round of Financing

5. One-Stop International Logistics Online Service Platform YunQuNa 运去哪 Receives New Financing

June.29, 2021

1. Dingdong Maicai downsizes US IPO by more than 70% after MissFresh flops

2. Baidu-Geely EV venture Jidu hires ex-Cadillac exec to lead design studio

3.Sales management SaaS provider 销帮帮CRM closed Series B of 50 million RMB

4 Raythink’s augmented reality car displays attract Series A investment

5. Chinese EV battery maker CATL extends deal with Tesla

6. Tencent makes $40m debt investment in Indian music streaming app Gaana

June.28, 2021

1. Ride-hailing giant Didi IPO Filing Sets $60B Target Valuation

2. Driverless car firm Pony.ai hires JPMorgan executive as its first CFO

3. Baidu’s AI chip unit Kunlun becomes independent company

4. Kuaishou to cut Sunday workdays amid 996 backlash

5. Chinese Female Health App Meiyou May List Overseas

6. Tea brand CHALI茶里 closed a new round of hundreds of millions RMB, led by GGV

June.25, 2021

1. Chinese time spend on smartphone up 15% in 2021

2. China to ban large energy storage plants from using retired EV batteries

3. Chinese ridesharing giant Didi aims for $60 billion valuation in IPO

4. HeyTea to Complete New Round of Funding for $9.27 Billion

5. Sequoia-backed Jiangxing AI raises fresh funds for edge computing in China’s green push

6. Temasek, Taikang lead $60m Series C2 round for Chinese speech therapy firm OST

June.22, 2021

1. China’s E-commerce Giants See Record Highs During “618” Shopping Spree

2. Tencent to Build Global Headquarters on Artificial Island With $5.7 Billion Investment in Shenzhen

3. DCP Capital-backed consortium to take China’s 51job private in $5.7b deal

4. Electric Vehicle Charging Operator Yunkuaichong Completes B1 Financing, Led by Lithium-ion battery manufacturer CATL

5. Proton Robotics nets fresh funds for warehouse automation solutions

June.21, 2021

1. TikTok rival Kuaishou takes market cap crown among new IPOs

2. Didi may face new antitrust probe ahead of US IPO

3. Baidu introduces new robotaxi, slashing manufacturing costs

4. SenseTime Considers US$2 Billion HK IPO

5. Premium Ice Cream Brand Chicecream 钟薛高 Apologizes for Past Misdeeds

6. CPE-backed Chinese hair transplant clinic chain Yonghe files for HK IPO

June.16, 2021

1. China tells e-commerce platforms to regulate promotional phone messages

2. China’s Fashion Unicorn Shein Accused of Copyright Infringement

3. Horizon Robotics lands USD 1.5 billion in hot autonomous driving sector

4. Chinese sportswear maker Xtep gets US$129 million boost from Hillhouse Capital to grow K-Swiss, Palladium brands in global markets

5. Chinese SaaS provider Xiaoetong 小鹅通 nabs USD 120 million from Hillhouse, more

June.15, 2021

1. China passes data security law as it continues to crack down on tech giants

2. Startups raise $5.1b from PE-VC investors in May, down 8.9% from April

3. Alibaba Health-backed medical data company LinkDoc files for US IPO

June.11, 2021

1. China’s Huawei aims to reach driverless car technology in 2025

2. Chinese ride-sharing giant Didi files to go public, earned a small profit last quarter on $6.4 billion in revenue

3. Alibaba logistics arm Cainiao partners with China’s Hainan gov’t

4. Alibaba to Develop Self-Driving Trucks, Eyeing Next Potential Hot Spot in China’s Tech Sector

5. Softbank-backed car trading firm Chehaoduo nets $300m to hit decacorn valuation

June.10, 2021

1. China’s carbon neutral goal: Shanghai aims to have 10,000 h

2. Alibaba Cloud offers to build livestream shopping platforms for global clients

3. Tencent to reposition short-video app Weishi to focus on movie content

4. Food delivery giant Metiruan plans to hire 60,000 execs

5. China’s Oriental Space secures funding from Matrix, Sequoia, others

June.9, 2021

1. Alibaba Cloud to invest $1b to fund startups and empower developers in APAC region

2. Chinese online grocery Dingdong Maicai files for US IPO

3. Alibaba-backed online education giant Zuoyebang downsizes amid tightening policy control

4. Chinese lidar maker Hesai lands $300M led by Hillhouse, Xiaomi, Meituan

5. Cross-border logistics platform Kuajinghaoyun 跨境好运 nets millions of yuan from Temasek unit, other investors

6. Chinese O2O pharma platform Dingdang Health nets $22m led by TPG Capital Asia

June.8, 2021

1. Bubble Tea Chain Nayuki Obtains Go-Ahead for $500 Million Hong Kong IPO

2. Chinese co-working space provider Ucommune’s SPAC files for $50m US IPO

3. Sina-led consortium in final talks to buy stake in Yoozoo Games

4. SoftBank, CMC lead $400m rounds in Chinese home furnishing platform Chubby Bear

5. GGV Capital leads $94m Series C round in China’s Qingteng Cloud Security

June.7, 2021

1. Chinese secondhand marketplace nets USD 45 million for enterprise business

2. BAIC Motor to Adopt Huawei’s HarmonyOS in New SUV Model

3. China’s Youran Dairy Group seeks to raise $800m in Hong Kong IPO

4. Tencent-backed recruitment platform Kanzhun seeks to raise up to $912m in US IPO

5. Autonomous Driving Startup Zongmu Technology 纵目科技 Raises $190 Million from Investors Including Xiaomi, Qualcomm

June.4, 2021

1. China to hand out $6.2 million in digital currency to Beijing residents as part of trial

2. Ant Group consumer finance unit in Chongqing wins operating approval

3. Huawei to bring in-house HarmonyOS to smartphones

4. Yunfeng Capital-backed AI chip startup Horizon considers a $1b US listing

5. China’s self-driving tech firm ZongMu Tech nets $190m from Xiaomi, Denso, others

6. TikTok launches initiative to support small and medium-sized businesses in SEA

June.1, 2021

1. Secondhand Electronics Trading Platform Aihuishou Reveals $3.5 Billion GMV in IPO Filing

2. Didi’s Self-driving Unit To Raise Over $300M In New Round

3. Sequoia China, Yunfeng Capital lead $228m round in Chinese rice brand Shiyue Daotian

4. Oral healthcare brand BOP raised 160million RMB in Series B

5. Qiming Venture leads $15.7m round of Chinese surgical instrument startup IntoCare