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Alibaba Group Holding Ltd. and a Chinese state-owned company are considering bidding for a stake in Unisplendour Corporation Limited, a cloud computing infrastructure company, according to sources cited by Reuters. The stake could sell for up to $7.7 billion.
The deal was won by Mi Space SH Limited, with a transaction price of 1.55 billion yuan. Media speculated that the move may be for the Xiaomi Auto Business R&D Center, but the firm has not responded yet.
Sequoia Capital’s China affiliate has raised new funds totaling about $9 billion, to be used for investments in technology and healthcare. The firm received more than $12 billion in a 50% oversubscribed round.
DiDi Global Inc. reported its first financial report for Q2 and Q3 on Thursday, showing that its net loss attributable to ordinary shareholders in the third quarter was 30.6 billion yuan ($4.8 billion).
The total global smartphone shipments in the fourth quarter of 2019 were 368.8 million units, marking an increase of 2.9% over the previous quarter.
In order to achieve faster and long-term development, various personnel changes and organizational adjustments have recently taken place at Li Auto and XPeng, two Chinese electric vehicle manufacturers.
On Monday, the U.S. government appealed a federal judge’s ruling blocking the administration’s ban on Chinese short video sharing app TikTok.
According to Chinese business data platform Tianyancha, litigation documents filed by miHoYo, the developer of video games including Genshin Impact, against three entities under 37 Interactive Entertainment were recently made public.
On July 3, Great Wall Motors held a launch event in Riyadh, Saudi Arabia, announcing the launch of its Tank 300 off-road vehicle in Saudi Arabia while also giving a look at the Tank 500.
Chinese logistics firm SF Express on Sunday evening disclosed a briefing on its express delivery and logistics business in November.
On August 1, BlackBerry Limited and Hozon Auto announced that NETA Auto, an EV brand owned by Hozon Auto, has selected BlackBerry QNX technology to power its soon-to-be-produced futuristic sports sedan, the NETA S.
Smartphone manufacturer OPPO has announced that its K10 series will be equipped with a MediaTek Dimensity 8000 processor. The new model is expected to be released this month.