Hong Kong’s Chong Mei Tobacco has injected USD 20 mln into a Chinese e-cigarette developer Bink, and will provide technical and resource support.
ByteDance-backed online education platform Gogokid is undergoing massive layoffs. Another ByteDance’s tutoring product aiKID has stopped operating for 4 months.
Chinese plastic surgery social network SoYoung Technology plans to issue 13 mln American depositary shares or 10 mln Class A common shares priced between USD 11.8 to USD 13.8 to raise at least USD 153 mln. According to their updated prospectus, the company achieved revenue of RMB 206 mln in Q1, up 81.8%.
Starbucks’ Chinese competitor Luckin Coffee files for US IPO and intends to list under the symbol “LK”. The company achieved revenue of RMB 480 mln while recorded a loss of RMB 530 mln in Q1.
Tencent-backed live-streaming platform Douyu has applied to list on the New York Stock Exchange under the symbol “DOYU” to raise up to USD 500 mln. In 2018, the company achieved revenue of RMB 3.65 bln, up 93.8%, and the gross profit was RMB 151mln.
Chinese TV producer Beijing Enlight Media releases their annual report. In 2018, the company generated revenue of RMB 1.49 bln, down 19.09% YoY. The net profit was RMB 1.37 bln, up 68.47% YoY.
Shanghai has announced as China’s first city to pilot 5G commercial use with 500 5G base stations. Shanghai municipal government signs a memorandum of strategic cooperation with China Unicom today, in which China Unicom promises to invest RMB 15 bln in the deployment of Shanghai’s 5G network by 2021.
China will enhance policy support to promote qualified futures firms to go public in the country
Industrial robot giants Efort targets mainland IPO
Samsung delays launch of new Galaxy Fold in China
80% of smart wearables are now made in Shenzhen
Huawei reports 39% total revenue growth for Q1 2019
China’s automobile manufacturer NIO announces that charging services will be provided in 41 cities from this week. Mobile charging service will cost RMB 380 each time and public charging points will cost RMB 280 each time.
According to China’s largest movie ticketing website Maoyan, Avengers: Endgame' presales in China has exceeded RMB 400 mln, breaking tickets sales records.
Tianhong’s Yuebao realized a total profit of RMB 6.559 bln in Q1, with an average daily return of more than RMB 72.87 mln for its investors.
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