Business

Tencent Makes USD143 Million Strategic Investment In Seasun

Tencent has made a USD143 million strategic investment in the Chinese leading gaming company Seasun.On the completion of the transaction, Tencent will own over...

Southeast Asia Payment Platform helloPay Gains Alipay Rebrand

Alibaba Group's Ant Financial has implemented a merger with helloPay, the online payment platform of the Southeast Asia e-commerce site Lazada.Starting from April 19,...

TSMC Net Profit Up 35.3% In Q1 2017

Taiwan Semiconductor Manufacturing Company Limited's financial report for the first quarter of 2017 and its performance outlook for the second quarter of 2017 shows...

58.com's Used Goods Trade Platform Gains USD200 Million Investment From Tencent

Chinese classified information provider 58.com announced a final agreement with Tencent under which Tencent will invest USD200 million to Zhuanzhuan, the used goods trade...

Former Kingsoft CEO Joins VC Firm

Former Kingsoft CEO Zhang Hongjiang has joined venture capital firm Source Code.Zhang had been the chief executive officer at Kingsoft since he joined the...

China Mobile Achieved CNY708.4 Billion Operating Revenue In 2016

In 2016, China Mobile realized operating revenue of CNY708.4 billion, a year-on-year increase of 6%.Its earnings before interest, taxes, depreciation and amortization were CNY256.7...

LeSEE Poaches New Executives From Volkswagen

William Ding, LeSEE's co-founder, global vice president, and China and Asia Pacific CEO, recently confirmed his departure from LeSEE on Weibo.At the same time,...

Baidu Sees Opportunity With xPerception For Machine Vision Development

Chinese search engine company Baidu announced plns to fully acquire American technology company xPerception.xPerception focuses on machine vision software and hardware solutions. It provides...

China's Unic To Acquire U.S. Semiconductor Test Company For USD580 Million

Unic Capital Management, a subsidiary of Sino IC Capital Co. Ltd., agreed to acquire U.S. semiconductor test company Xcerra Corporation for USD580 million.Unic will...

Zhaopin.com Reaches Go-private Agreement

Chinese pioneering recruitment website Zhaopin.com, which previously received three privatization proposals, announced that its board of directors has reached a privatization agreement with a...

Volkswagen Invests USD180 Million In Chinese Voice Search Company

Chinese-language mobile voice search engine provider Mobvoi announced a deal with Volkswagen Group, and the two parties will set up a joint venture to...

Didi Chuxing Launches Female Career Development Plan In China

On the heels of its American partner Uber ensconced in controversy of its treatment of women, Chinese ride-share company Didi Chuxing is focusing on...

China Unicom Net Profit Down 94.1%

China Unicom's operating revenue was CNY274.2 billion in 2016, a year-on-year decrease of 1%; and its net profit was CNY630 million, a year-on-year decrease...

Sogou Eyes IPO In 2017

Chinese search engine company Sogou.com reportedly made an important step for its initial public offering in 2017 and Wang Xiaochuan, chief executive officer of...

Ctrip's Online Travel Goes Offline With 5,500 Stores Across China

Chinese Internet tourism services provider Ctrip.com is further integrating Traveling Bestone and Qunar vacation businesses to implement its strategy in second-, third-, and fourth-tier...

China's LeEco Guts 85% Of Its Employees In India

Echoes are reverberating at LeEco's offices in India as the Chinese company has slashed staff in its signal of a departure from the Indian...

Skytech, Ant Financial Sign Cooperation Framework Agreement

Chinese software, integrated system, and technical services provider Skytech announced that the group has signed a cooperation framework agreement with Alibaba's online payment affiliate...

Tesla's Chinese Operating Revenue Reached USD1 Billion In 2016

American electric car maker Tesla achieved good performance in China and reportedly realized over USD1 billion operating revenue in this market in 2016.Tesla's chief...

Classified Information: 58.com Made Net Losses Of USD117.8 Million In 2016

58.com realized operating revenue of USD306.6 million, which was about CNY2.095 billion, during the fourth quarter of 2016, a year-on-year increase of 28.5%.The Chinese...

Meituan Dianping Establishes New Fund In China

Chinese online group buying and lifestyle services provider Meituan Dianping set up an investment fund with initial capital of CNY1.5 billion and target fund...

Vip.com Revenue Up 40.8% In 2016 With Enhanced Delivery Capacity

Chinese e-commerce website Vip.com published its unaudited financial report for the fourth quarter and entire year of 2016 in which it boasted total operating...
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