【casino link tours inc】casino link tours inc

casino link tours inc

On Tuesday, the US investment research firm Hindenburg Research published a report titled EHang: Hollow Order Book And Fake Sales Make This China-Based eVTOL Company Last In Line For Takeoff. EHang, Chinas autonomous aerial vehicle company, is grappling with a significant credibility issue. The report accuses EHang of inflating its pre-order numbers and providing misleading information about early sales, creating an appearance of fraudulent revenue. EHang promptly refuted these claims on Wednesday, asserting that the report contains false statements and misrepresentations about the company’s business operations and financial status. The company strongly denies the allegations, particularly those suggesting that EHang deceived investors regarding its order pipeline and sales. [EHang]internet casinoBJEV, the electric vehicle unit of the Chinese state-owned automaker BAIC, witnessed a 9.1% surge in shares in Shanghai on Wednesday. This followed media reports that the manufacturer had been invited to attend a closed-door meeting hosted by smartphone maker Xiaomi, hinting at a potential partnership between the two entities. Xiaomi, the tech giant, has reportedly been gearing up for a production ramp-up at its own plant in Beijing since September, with an initial production capacity set at 1video bingo50,000 EVs. CEO Lei Jun, on Oct. 25, reaffirmed the timeline for launching its first EV model, possibly a sports sedan, in the first half of 2024. Despite these plans, the company is reportedly seeking a manufacturing partner for its second model, a sports utility vehicle, in the short term. This move aims to avoid expanding its Beijing facility, leading the company to engage in discussions with various Chinese automakers, including Brilliance and Chery. [Shanghai Securities News, in Chinese]

Fast fashion giant Shein is targeting up to $90 billion in its upcoming US IPO, according to a Tuesday report by Bloomberg, despite the China-founded companys recent valuation dropping to $50 billion in secondary market trading due to market concerns. The timing of Sheins long-awaited IPO remains uncertain due to a dim economic outlook as well as copyright and forced labor disputes concerning the company. The report also noted that although it faces intensified competition with its Chinese counterpart Temu, Shein shows continuing profitability, expecting to reach $2.5 billion in net income this year, a figure 2.5 times that of 2019. [Bloomberg]Chinese electric vehicle maker Li Auto is set to deliver 800,000 units next year, followed by rivals Xpeng Motors and NIO, which will aim for annual deliveries of 280,000 and 230,000 units respectively, media outlet 36Kr reported on Tuesday, citing figures from local suppliers. Specifically, Li Auto is hoping to sell 80,000 units next year of the Mega, the companys first all-electric model and multi-purpose vehicle, while Xpeng expects sales of its similar offering to reach 2,000 units each month. Both vehicles are scheduled for launch later this year. The report said the estimates do not include projected sales by the forthcoming sub-brands of NIO and Xpeng, codenamed Alps and Mona. Li Auto, NIO, and Xpeng delivered 284,647, 126,067, and 101,445 vehicles respectively from January to October. The three companies did not respond to media requests for comment. [36Kr, in Chinese]Chinese internet giant Baidu has ordered artificial intelligence chips from Huawei this year, according to an exclusive report from Reuters. In August, Baidu placed an order for 1,600 Huawei 910B Ascend AI chips as an alternative to Nvidia chips, Reuters reported, citing sources familiar with the matter. The move was made ahead of new regulations by the US government in October, which imposed stricter restrictions on AI chip exports to China, including those made by Nvidia. Baidu has become a leading AI company in China with the development of its ERNIE large language model (LLM), the firm’s answer to ChatGPT. By October, Huawei had already delivered over 60% of the Baidu order, comprising approximately 1,000 chips, the report stated. The total value of the order is estimated to be around RMB 450 million ($61.83 million), with Huawei expected to fulfill the remaining chip deliveries by the end of this year. [Reuters]Chinese internet giant Baidu has ordered artificial intelligence chips from Huawei this year, according to an exclusive report from Reuters. In August, Baidu placed an order for 1,600 Huawei 910B Ascend AI chips as an alternative to Nvidia chips, Reuters reported, citing sources familiar with the matter. The move was made ahead of new regulations by the US government in October, which imposed stricter restrictions on AI chip exports to China, including those made by Nvidia. Baidu has become a leading AI company in China with the development of its ERNIE large language model (LLM), the firm’s answer to ChatGPT. By October, Huawei had already delivered over 60% of the Baidu order, comprising approximately 1,000 chips, the report stated. The total value of the order is estimated to be around RMB 450 million ($61.83 million), with Huawei expected to fulfill the remaining chip deliveries by the end of this year. [Reuters]iQOO, a sub-brand of the Chinese phone maker Vivo, launched the iQOO 12 series phones in China on Tuesday, featuring the Snapdragon 8 Gen 3 and a self-developed gaming chip Q1. Powered by the Snapdragon 8 Gen 3 chip, the new device offers 16GB of LPDDR5x RAM along with the option for up to 1TB of UFS 4.0 storage. To enhance the immersive gaming experience, it boasts a self-developed Q1 chip that enables smooth gameplay at a refresh rate of up to 144Hz (at 1080P). This Q1 chip also incorporates advanced technologies such as low-latency frame insertion, superframe, and super-resolution. Additionally, the iQOO 12 Pro provides a 5,705mm虏 vapor chamber for efficient heat dissipation. The iQOO 12 is priced at RMB 3,999 ($550) for the 12GB+256GB model, while the iQOO 12 Pro starts at RMB 4,999 ($687). [IThome, in Chinese]

iQOO, a sub-brand of the Chinese phone maker Vivo, launched the iQOO 12 series phones in China on Tuesday, featuring the Snapdragon 8 Gen 3 and a self-developed gaming chip Q1. Powered by the Snapdragon 8 Gen 3 chip, the new device offers 16GB of LPDDR5x RAM along with the option for up to 1TB of UFS 4.0 storage. To enhance the immersive gaming experience, it boasts a self-developed Q1 chip that enables smooth gameplay at a refresh rate of up to 144Hz (at 1080P). This Q1 chip also incorporates advanced technologies such as low-latency frame insertion, superframe, and super-resolution. Additionally, the iQOO 12 Pro provides a 5,705mm虏 vapor chamber for efficient heat dissipation. The iQOO 12 is priced at RMB 3,999 ($550) for the 12GB+256GB model, while the iQOO 12 Pro starts at RMB 4,999 ($687). [IThome, in Chinese]FAW-Toyota, the joint venture between Toyota and Chinas FAW Group, will further reduce production in three months from December following output cuts during the previous two months, as part of its measures to mitigate the pressure on the operations of local dealerships. According to a letter circulated Tuesday, the automaker told partners on Nov. 3 that the vehicle allocation, which refers to the number of cars assigned to a franchise holder, will be adjusted to 66,000, 60,000, and 38,000 units from December to February accordingly. It also called on dealerships in the letter to make the most of it as the year-end peak season approaches, despite the market being in a slow gear. A sales employee told Chinese financial media outlet Jiemian that some car dealers are facing a heavier inventory of unsold vehicles in their lots, especially in the Chinese second and third-tier cities such as Jinan, as sales remain weak after the pandemic. [Jiemian, in Chinese]Chinese automaker Dongfeng Motor on Thursday started accepting pre-orders for the e蟺 007, the first model under the namesake electric vehicle marque. The company aims to challenge the dominance of BYD and Tesla, seeking a larger share of the growing mainstream EV segment. Priced competitively at RMB 159,000 ($22,101), the extended-range hybrid version boasts a driving range of 1,200 kilometers (746 miles) on a full tank plus full charge, comparable to the plug-in hybrid BYD Han priced from RMB 189,800. The vehicle, measuring around 4.9 meters in length with a wheelbase of 2.9 meters, accelerates from 0-100 km/h (0-62 mph) in 3.9 seconds鈥攕lightly larger and faster than Teslas Model 3 (4.7 meters, 0-60 mph in 4.4 seconds). Powered by Qualcomms Snapdragon 8155 chipset for in-car infotainment systems, the large mid-size sedan boasts a sleek, sporty exterior design. The top-end version will feature Lamborghini-styled scissor doors, a feature also available with Xpeng Motors P7 sedan. [Dongfeng announcement, in Chinese]

Chinese e-commerce giant JD said on Thursday that nearly 100 couriers have earned more than 1 million yuan in the past three years, and in Chaoshan city in Guangdong, some have even reached RMB 2 million. The public announcement comes after news stories flooded Chinas X-like microblogging platform Weibo recently as influencer accounts and state-owned media outlets extensively covered the high earnings of food delivery riders, couriers, and decoration workers, with those professions reportedly sometimes paying RMB 30,000 to RMB 40,000 a month, figures that are far higher than the public perception. The articles have sparked widespread debate and no little skepticism. In a post on its official WeChat account, JD detailed several benefit policies for its employees, including a housing guarantee fund aimed at alleviating mortgage stress and an employee assistance fund, all designed to make employees’ days “more hopeful and brighter. [JD, in Chinese]ByteDance, the owner of TikTok and Douyin, is on track to accelerate the stock vesting schedule for its employees as part of an updated incentive policy, announced in a Thursday email. According to Chinese media outlet Jiemian, the company plans to change how often employees can turn their stock options into company stock and sell them for equity, switching from once a year to every quarter. In the latest round of share buybacks in November, ByteDance offered $160 per share to its staff. Employee annual incentives will consist of both an annual bonus and performance stock options starting in 2025, with the former capped at three months’ salary. Employees recognized for outstanding performance will be eligible for additional stock options despite IPO uncertainties over Chinas most valuable unicorns. [Jiemian, in Chinese]ByteDance, the owner of TikTok and Douyin, is on track to accelerate the stock vesting schedule for its employees as part of an updated incentive policy, announced in a Thursday email. According to Chinese media outlet Jiemian, the company plans to change how often employees can turn their stock options into company stock and sell them for equity, switching from once a year to every quarter. In the latest round of share buybacks in November, ByteDance offered $160 per share to its staff. Employee annual incentives will consist of both an annual bonus and performance stock options starting in 2025, with the former capped at three months’ salary. Employees recognized for outstanding performance will be eligible for additional stock options despite IPO uncertainties over Chinas most valuable unicorns. [Jiemian, in Chinese]Tesla has been sourcing cathode material from two Chinese electric vehicle battery makers for its production of 4680 batteries (high energy density cells 46 millimeters in diameter and 80 mm in length) in Texas since the second half of 2023. The deals are expected to continue until at least the third quarter of this year. Rather than purchasing battery cells directly, the US automaker procured positive electrode coils 鈥 raw electrodes processed into rollers that account for 35% of the cost of a battery cell 鈥 people with knowledge of the matter told media outlet LatePost. The move is expected to help Tesla ramp up production of the cost-efficient cylindrical battery cells, the report added. In an article by Reuters last March, Chinas Ningbo Ronbay New Energy and Suzhou Dongshan Precision Manufacturing were mentioned as two companies Tesla had turned to to help lower battery materials costs. Battery-related production issues are partly responsible for delays in launching Teslas futuristic Cybertruck. [LatePost, in Chinese]

Temu began selling its budget-friendly products in South Africa on Wednesday, according to the country column shown on the platforms official site, making Africa the sixth continent that the Pinduoduo sibling app now reaches after less than a year and a half in operation. Chinese-manufactured goods are expected to experience longer shipping times of up to 20 days to their destinations in the country, and Temu is reportedly set to cooperate with New Zealand-founded courier company Fastway in Africas southernmost state, according to Chinese media outlet Jiemian. [Jiemian, in Chinese]Foxconn recently announced that it is collaborating with the Indian tech giant HCL (Hindustan Computers Limited) to establish a new joint venture for chip packaging and testing operations in India. The partnership with HCL signifies Foxconn’s strategic shift towards the Indian market. The Taiwanese firm will own a 40% stake in the new joint venture with a $37.2 million investment. Foxconn’s Indian subsidiary, Mega Development, plans to establish an Outsourced Semiconductor Assembly and Testing (OSAT) center in India, while Foxconn is expected to invest another $1 billion to build a new plant in India dedicated to producing Apple products. Known for its engineering design and manufacturing expertise, HCL has been actively involved in discussions with the government of Karnataka, India, around the establishment of the new OSAT center. [IThome, in Chinese]

Meituan continues to face pressure on its Hong Kong-listed shares, following a fall that has left shares worth less than its IPO price of HK$69 by Wednesdays close, plunging the companys market value more than 80% below its peak of three years ago. The food delivery giant spent a total of HK$2.4 billion in share buybacks on six consecutive trading days since Jan.10, but this appears to have had a limited impact on ebbing stock prices. Investors have lowered their confidence in Meituan as the company struggles with aggressive competition from peers including ByteDance and slowdown concerns about its core takeout business. [TechNode reporting]China, as the largest global semiconductor market in 2023, experienced a 15.4% year-on-year decline in the value of imported chips, which fell to $349 billion, according to Bloomberg. Although the global chip market saw an overall downturn due to a sluggish global economy, the decrease in Chinas chip imports was more pronounced. Moreover, an inability to import advanced chips from the US further contributed to the significant decrease in Chinas chip imports. In November 2023, the increased restrictions on the export of high-performance AI chips to China had an impact on products from companies such as Nvidia. However, these export limitations also encouraged Chinese enterprises to focus more on domestically designed and manufactured chips, reducing Chinas dependence on imported chips. [Bloomberg]Huawei on Tuesday set up a wholly-owned subsidiary in Shenzhen with a registered capital of RMB 1 billion ($138.9 million). The new subsidiary will absorb its automotive business unit, which is set to be spun off into a separate company in the hopes of inducing more collaborations with automakers. The new entitys corporate information was released publicly on Chinese business intelligence platform Tianyancha. People close to the company told Caixin that Huawei and its partners are still discussing the details of investment into the new venture as they pursue a diversified ownership. The move comes after the Chinese technology giant last November revealed plans to form a joint venture with state-owned carmaker Changan Auto that will include the core technologies and resources from its Intelligent Automotive Solution (IAS) business unit. Changan chairman Zhu Huarong said on Tuesday at a company event that the new firm could be named Newcool and will be open to other car manufacturers for collaboration. [Tianyancha, Caixin, in Chinese]On Tuesday, Xiaomi rebranded one of its Weibo accounts from Xiaomi Brand Safety to Xiaomi Legal Department, as misleading reports about Xiaomi cars continue to spread widely. In China, intensifying competition in the mobile industry has led major mobile firms to launch Weibo accounts for their legal departments, as online unverified info may spark discussions to bring negative impacts for the enterprise. In November 2023, CEO Lei Jun announced that Xiaomi’s first car model, the SU7, is currently in trial production and is expected to be released in the domestic market in the coming months, with the final price yet to be determined. Until the launch event for Xiaomi’s automotive products takes place, all information, posters, or pricing related to Xiaomi cars is considered false, Xiaomis PR manager Wang Hua said on Jan. 5. [IThome, in Chinese]

BYD will release at least 10 new electric cars this year featuring advanced driving technology that enables functions such as fully-automated parking and autonomous lane changing on busy urban streets in China, chairman Wang Chuanfu announced at BYDs Dream Day event on Tuesday. The move will be part of an RMB 100 billion ($13.9 billion) long-term initiative to achieve full-scale vehicle automation, by which the company plans to make all core vehicle domains, from batteries to chassis, operatable by chip, artificial intelligence, 5G, and satellite, Wang explained. The company named its latest intelligent electric vehicle architecture Xuanji, an old Chinese term for the Big Dipper, adding that it will make automated driving a standard feature for all future models priced over RMB 300,000 ($41,700). The Chinese EV giant also announced it will invest RMB 5 billion in building all-terrain race tracks for enthusiasts across China, without revealing further details. [TechNode reporting, BYD announcement]Chinese game streaming platform Huya plans to collaborate with Tencent WeChat Channels, following Tencents announcement last week that it will livestream Honor of Kings on ByteDances Douyin (Chinas TikTok sibling). As a major stakeholder in Huya, the move underscores Tencents dedication to maintaining its own gaming livestream services, according to local media outlet Awtmt. Huya earned RMB 1.6 billion ($230 million) in the third quarter of 2023, and saw a year-on-year decline in both live streaming and advertising income, while WeChat Channels saw a 50% year-on-year growth in viewership during the same period. WeChat Channels claimed a significant growth in original content. In May 2023, WeChat Channels launched the Game Live Streaming Promotion feature, enabling game developers to directly guide fans to pre-register, download, and launch games via the platform. [IThome, in Chinese]According to South Korean media outlet Sedaily, SK Hynix is planning to upgrade its Wuxi Plant. SK Hynix intends to upgrade its dynamic random-access memory (DRAM) production equipment to the fourth-generation 10nm class chip process at its plant in Wuxi, China, this year. Although operational specifics are yet to be confirmed, the Wuxi plant serves as a crucial hub, contributing around 40% of SK Hynixs DRAM output. The upgrade will enable SK Hynix to maintain its market share amid global semiconductor competition despite US restrictions, according to the Chinese media outlet Global Times. Last week, SK Hynixs president, Kwak Noh-Jung, mentioned during CES 2024 that the company last year created an internal group to address geopolitical issues and develop ways to mitigate business risks. [Global Times, in Chinese] Correction: an earlier version of this article misidentified the 10nm class chip process as the 10nm chip process.According to South Korean media outlet Sedaily, SK Hynix is planning to upgrade its Wuxi Plant. SK Hynix intends to upgrade its dynamic random-access memory (DRAM) production equipment to the fourth-generation 10nm class chip process at its plant in Wuxi, China, this year. Although operational specifics are yet to be confirmed, the Wuxi plant serves as a crucial hub, contributing around 40% of SK Hynixs DRAM output. The upgrade will enable SK Hynix to maintain its market share amid global semiconductor competition despite US restrictions, according to the Chinese media outlet Global Times. Last week, SK Hynixs president, Kwak Noh-Jung, mentioned during CES 2024 that the company last year created an internal group to address geopolitical issues and develop ways to mitigate business risks. [Global Times, in Chinese] Correction: an earlier version of this article misidentified the 10nm class chip process as the 10nm chip process.

Baidu clarified on Monday evening that it does not have any partnership with any of Chinas military organizations after a report linked the companys ChatGPT-like technology to the Peoples Liberation Army (PLA), causing shares of the search giant to see their largest drop since 2022. A report in the South China Morning Post originally said that an academy paper written by scholars at a PLA-affiliated research institute had disclosed a link with the Chinese technology giant. The academy paper used Baidus ChatGPT-like ERNIE Bot as an example to describe how it generates battlefield maneuvers and predicts opponent actions based on combat information prompts, which SCMP reported as forging a physical link between Baidu and PLA. The outlet later removed the saying. Baidu does not provide any customized services to the military, according to the company’s statement, adding that the ERNIE Bot used by the academy paper’s author was the general version accessible to the public since August. [Baidu]TSMC plans to mass produce Apple’s next-generation 2nm chip in 2025, as the prototype of the 2nm chips has recently been presented to Apple, according to the Taiwan-based media outlet DigiTimes. Apple and TSMC are closely collaborating on the development and implementation of the 2nm chip technology, aiming to surpass current 3nm chips in transistor density, performance, and efficiency. The report also revealed that TSMC is actively advancing its 2nm process node, with the first batch of equipment scheduled to enter the factory in April 2024. Moreover, TSMC is currently assessing potential factory locations with the goal of securing its position as the first manufacturer of advanced 1.4nm chips by 2027. [DigiTimes]

The number of merchants that sold goods with a total value over RMB 100 million increased five times year-on-year on Xiaohongshu in the past year, the Instagram-like platform disclosed on its official WeChat account on Jan. 11, adding that sellers are increasingly seeing the lifestyle app as an additional place to do business as new business models and scenarios are being formed on Xiaohongshu. The platform also said it saw a 380% growth in merchants with an annual transaction size exceeding RMB 10 million, though it failed to reveal exact figures. As part of the announcement, Xiaohongshu posted its annual e-commerce year-end list, titled rise100, which listed noteworthy merchants and buyers based on multiple factors including merchants’ yearly business growth rate in 2023. The list features a flurry of China-made and niche foreign brands, demarcating the platforms e-commerce focus from other mainstream retailers. [Xiaohongshu, in Chinese]Tesla chief executive Elon Musk on Jan. 14 signaled that the company is likely to showcase its eye catching Cybertruck pickup in China, a move that could create attention and buzz for the US electric vehicle giant in the worlds largest car market. Replying to a post by a user with the handle @ray4tesla, on social media platform X, formerly known as Twitter, Musk mentioned the likelihood of shipping some Cybertruck prototypes to China for display, although he admitted it would be very difficult for the vehicle to be legally permissible on Chinese roads in the near future. The US carmaker finally initiated the delivery of its Cybertrucks, priced from $60,990 and with a driving range of 250 miles (around 402 kilometers), to customers in November from its Gigafactory in Austin, Texas, after a two-year production delay. The Cybertruck is currently not available for retail sale in Europe as authorities have limited external protrusions on vehicles aimed at protecting pedestrians. [Elon Musk X repost]

ByteDance and Alibaba have not yet reached a consensus on the terms or price of an offer by the former to buy Alibabas food delivery service Ele.me according to financial media outlet Caijing. However, Alibaba yet again denied it was in negotiations with ByteDance to sell Ele.me. Bytedance, operator of TikTok and its domestic sibling Douyin, was reported by Caijing to have bid $7 billion, which is $500 million to $1 billion less than expected by Alibaba. A further disagreement between the duo is reported to be Alibabas intention to transfer over the entire Ele.me team, while ByteDance only wanted to keep its delivery couriers. Alibaba took full control of Ele.me in 2018 at a valuation of $9.5 billion, as it took steps into the local services industry to compete with Meituan. The business has yet to enter a clear cycle of profitability. As Douyin relies on third-party platforms including SF Express, JDs Dada, and Ele.me to fulfill its delivery demands, building its own team of riders is crucial for ByteDance in doubling down on its local service ambitions. [Caijing, in Chinese]CATL, the worlds largest electric vehicle battery maker, will build a plant in Beijing, according to a document published by the Beijing Municipal Commission of Development and Reform on Jan. 11 and viewed by financial media outlet Caixin. The citys economic planner expects the move to shore up the new energy vehicle supply chain in Chinas capital, but has not revealed other details, although a person close to the company told Caixin that construction had begun. Chinas capital is making efforts to become a regional EV production hub, spearheaded by locally-headquartered Xiaomi and Li Auto which both recently began factory operations with an annual capacity of 150,000 and 100,000 units respectively, in the outskirts of the city. The Chinese battery giant has, since early 2022, been running an 80 gigawatt-hour (GWh) facility in Shanghais Lingang area for Tesla, selling 233.4 GWh of batteries between January and November, according to figures compiled by industry tracker SNE Research. [Caixin, in Chinese]Alibabas domestic marketplace, Taobao, has invited merchants to test an upgraded AI chatbot named Dianxiaomi, as its new CEO, Eddie Wu, encouraged the e-commerce giant to embrace highly sought-after artificial intelligence technology since he came to power last September. The chat tool, enhanced by an AI foundation model, is expected to be available to all Taobao and Tmall sellers in June. It aims to “better serve” pre-sales guidance, after-sales service, and data analysis, with the accuracy rate of Dianxiaomi improved to 85%, according to Alibaba. [Jiemian, in Chinese]Honda is expected to complete construction work soon on its first factory for purely electric vehicles with a 120,000-unit annual capacity, as an e:NS1 crossover rolled off the final assembly line on Dec. 31 in the central Chinese city of Wuhan. Honda and its Chinese manufacturing partner Dongfeng have started testing systems during commissioning at the end of the project, with the facility set to begin volume production of Hondas Chinese-market electric e:N lineup later this year, as reported by the local newspaper Hubei Daily on Wednesday. Separately, another new production base built by GAC-Honda, a joint venture between the Japanese automaker and the other partner GAC Group, is also scheduled for operation with an output of 120,000 EVs per year in the southern city of Guangzhou in 2024. Sales of Japans second-biggest carmaker declined 10.1% year-on-year to approximately 165,800 units in 2023, and the company plans to accelerate the transition to EVs with the rollout of 10 e:N series models by 2027. [Hubei Daily, in Chinese]The total value of goods sold through WeChats TikTok-like service nearly tripled year-on-year in 2023, the key figure was revealed at WeChats annual flagship event on Thursday, but creator of the all-in-one app, Allen Zhang, was absent from the event again for three years and director-level executives also havent attend this year. Tencent did not disclose absolute figures. Livestreaming e-commerce orders completed on Channels, WeChats in-app short video feature launched in 2020, increased by over 244%, the company said. Tencent allowed content creators to charge viewers for watching certain videos last year, and has now expanded that to allow creators with at least 10,000 followers to set up members-only areas, where they post content only for paid subscribers. [Yicai, in Chinese]The total value of goods sold through WeChats TikTok-like service nearly tripled year-on-year in 2023, the key figure was revealed at WeChats annual flagship event on Thursday, but creator of the all-in-one app, Allen Zhang, was absent from the event again for three years and director-level executives also havent attend this year. Tencent did not disclose absolute figures. Livestreaming e-commerce orders completed on Channels, WeChats in-app short video feature launched in 2020, increased by over 244%, the company said. Tencent allowed content creators to charge viewers for watching certain videos last year, and has now expanded that to allow creators with at least 10,000 followers to set up members-only areas, where they post content only for paid subscribers. [Yicai, in Chinese]

NIO has received critical support from Chinas local government of Anhui province, with an announcement on Thursday of a collaboration with the local state-owned power producer to build 1,000 battery storage-integrated recharging facilities in the region, where the company manufactures its electric vehicles. Anhui Province Energy Group Co., Ltd., or Wenergy Group for short, on Dec. 25 set up a joint venture called Zhongan Energy with NIO and battery maker Gotion High-Tech, along with several other state-owned firms with a registered capital of RMB 1.6 billion ($223.4 million). The firm, with Wenergy Group and NIO respectively holding a 44.4% and 19.3% stake, according to the Chinese business intelligence platform Tianyancha, will be responsible for establishing a unified infrastructure network for battery charging and swapping within the province. The companies also expect the new recharging facilities to help improve the flexibility and resilience of the power grid by actively balancing the demand and supply of electricity. NIO on Thursday also announced it has reached partnerships with Chery Automobile and JAC Group, two state-owned automakers with headquarters in Anhui, to jointly develop and operate battery swap stations, weeks after it reached similar deals with Changan and Geely. [NIO announcement, Tianyancha, in Chinese]NIO has received critical support from Chinas local government of Anhui province, with an announcement on Thursday of a collaboration with the local state-owned power producer to build 1,000 battery storage-integrated recharging facilities in the region, where the company manufactures its electric vehicles. Anhui Province Energy Group Co., Ltd., or Wenergy Group for short, on Dec. 25 set up a joint venture called Zhongan Energy with NIO and battery maker Gotion High-Tech, along with several other state-owned firms with a registered capital of RMB 1.6 billion ($223.4 million). The firm, with Wenergy Group and NIO respectively holding a 44.4% and 19.3% stake, according to the Chinese business intelligence platform Tianyancha, will be responsible for establishing a unified infrastructure network for battery charging and swapping within the province. The companies also expect the new recharging facilities to help improve the flexibility and resilience of the power grid by actively balancing the demand and supply of electricity. NIO on Thursday also announced it has reached partnerships with Chery Automobile and JAC Group, two state-owned automakers with headquarters in Anhui, to jointly develop and operate battery swap stations, weeks after it reached similar deals with Changan and Geely. [NIO announcement, Tianyancha, in Chinese]

Chinese car brand Luxeed said on Tuesday that it will pay RMB 200 ($28) per day as compensation for some buyers of its first model S7 who have experienced delivery delays of more than six weeks. In a statement published on the Twitter-like platform Weibo, Luxeed said it is ramping up production to ensure high-quality deliveries, calling for patience from buyers.聽Some customers of Huawei-backed electric vehicle brand Luxeed have experienced delivery delays of weeks for the S7 sedan, forcing them to cancel their orders and casting a shadow over the growth outlook of the technology giants car business. Multiple buyers informed Jiemian that they were recently told to wait at least four weeks for the car. Many of them had placed their orders right after the launch event on Nov. 28, and some received no firm delivery dates even after waiting for six weeks. The EV brand, jointly launched by Huawei and its manufacturing partner Chery, has also faced issues such as very limited showroom cars for a test drive in some retail stores, sources said. The premium sedan went on pre-sale on Nov. 9 with a starting price of RMB 258,000 ($35,381), featuring Huaweis latest proprietary Harmony operating system and partially automated driving software. The smartphone giant is reportedly launching new, more spacious stores dedicated to EVs, which could allow at least six cars to be displayed in-store, having partnered with multiple carmakers such as Seres and Changan. [Jiemian, Luxeed statement, in Chinese]Updated:聽The post was updated on Jan. 17 to include Luxeeds response to customers complaints over lengthy delays of the S7.Cloud Network Technology, a subsidiary of Chinese electronics manufacturer Foxconn, will increase its investment in Ingrasys Technology Mexico by $10 million, aiming to expand its server assembly business in the country, the Taiwan-headquartered company said. As a subsidiary of Foxconn engaged in OEM (original equipment manufacturer) production, Ingrasys Technology Mexico was established in July 2021. Taiwan-based Ingrasys provides cloud infrastructure solutions for multinational strategic partners, including hyper-converged infrastructure (HCI), high-performance computing (HPC), AI machine learning, and advanced cooling technologies. Foxconn currently has built six factories in Mexico, according to its annual report. [Icsmart, in Chinese]

Cloud Network Technology, a subsidiary of Chinese electronics manufacturer Foxconn, will increase its investment in Ingrasys Technology Mexico by $10 million, aiming to expand its server assembly business in the country, the Taiwan-headquartered company said. As a subsidiary of Foxconn engaged in OEM (original equipment manufacturer) production, Ingrasys Technology Mexico was established in July 2021. Taiwan-based Ingrasys provides cloud infrastructure solutions for multinational strategic partners, including hyper-converged infrastructure (HCI), high-performance computing (HPC), AI machine learning, and advanced cooling technologies. Foxconn currently has built six factories in Mexico, according to its annual report. [Icsmart, in Chinese]Chinese electric vehicle maker Leapmotor announced on Wednesday a new electric sports utility vehicle. Chief executive Zhu Jiangming says it is the only model on the market priced within RMB 200,000 ($27,920) and equipped with high-end chips from Nvidia and Qualcomm. The top-end, all-electric C10 integrates a DRIVE Orin system-on-a-chip from Nvidia with 254 TOPS of performance and Qualcomm’s five-nanometer Snapdragon 8295 processor, providing users with advanced features such as automated driving and AI assistant at a price tag of RMB 185,800 ($25,938). The Zhejiang-based automaker also introduced several extended-range hybrid variants with a price range between RMB 151,800 and RMB 181,800, offering a driving range of 1,190 kilometers (739 miles) on a full tank plus a full charge. Leapmotor debuted the C10 SUV with plans to launch it globally at the IAA Mobility in Munich in September, a month before it reached a 鈧?.5 billion (nearly $1.6 billion) investment deal with Stellantis for 20% of its shares. [Leapmotor release, in Chinese]

Chinese electric vehicle maker Leapmotor announced on Wednesday a new electric sports utility vehicle. Chief executive Zhu Jiangming says it is the only model on the market priced within RMB 200,000 ($27,920) and equipped with high-end chips from Nvidia and Qualcomm. The top-end, all-electric C10 integrates a DRIVE Orin system-on-a-chip from Nvidia with 254 TOPS of performance and Qualcomm’s five-nanometer Snapdragon 8295 processor, providing users with advanced features such as automated driving and AI assistant at a price tag of RMB 185,800 ($25,938). The Zhejiang-based automaker also introduced several extended-range hybrid variants with a price range between RMB 151,800 and RMB 181,800, offering a driving range of 1,190 kilometers (739 miles) on a full tank plus a full charge. Leapmotor debuted the C10 SUV with plans to launch it globally at the IAA Mobility in Munich in September, a month before it reached a 鈧?.5 billion (nearly $1.6 billion) investment deal with Stellantis for 20% of its shares. [Leapmotor release, in Chinese]Huawei announced on Wednesday that NetEases mobile game A Chinese Ghost Story was the first to use its open-source adaptation for HarmonyOS on the Unity China engine. In August 2023, Huawei and NetEase unveiled the game at a launch event, showing that the main rendering and logic integration had been completed, along with various software kits for video, audio, and user login. Huawei expects games that have integrated with its HarmonyOS to have significant improvements in performance and graphics. Moreover, Huawei is set to hold a HarmonyOS Ecology event next week, with sessions in eight major Chinese cities. During the event, Huawei will unveil its latest operating system updates. [IThome, in Chinese]Huawei announced on Wednesday that NetEases mobile game A Chinese Ghost Story was the first to use its open-source adaptation for HarmonyOS on the Unity China engine. In August 2023, Huawei and NetEase unveiled the game at a launch event, showing that the main rendering and logic integration had been completed, along with various software kits for video, audio, and user login. Huawei expects games that have integrated with its HarmonyOS to have significant improvements in performance and graphics. Moreover, Huawei is set to hold a HarmonyOS Ecology event next week, with sessions in eight major Chinese cities. During the event, Huawei will unveil its latest operating system updates. [IThome, in Chinese]Shares of Nasdaq-listed Dada Nexus plunged nearly half on Monday after the on-demand delivery company said it found “suspicious” advertising revenue in an internal audit, casting doubt on the authenticity of Dadas first profitability in the April quarter last year. In a regulatory filing, Dada said in the first three quarters of 2023, an estimated RMB 500 million in online advertising revenue plus another RMB 500 million in operating and support costs may have been overstated, and it will commission a third-party re-audit. The potential fraud event was announced a month after the chairman and chief financial officer of Dada resigned, with the former citing “personal reasons.” [DaDa Nexus filings]

On Tuesday, the US chip giant Nvidia introduced the production microservices NVIDIA Avatar Cloud Engine (ACE) that enable game developers, tool creators, and middleware developers to integrate generative AI models into the digital avatars within their games and applications. Chinese developers NetEase, Tencent, and HoYoverse are among the first major gaming studios utilizing this new platform. The ACE platform allows game developers to create interactive non-playable characters (NPCs) by using AI models such as NVIDIA Omniverse Audio2Face (A2F) and NVIDIA Riva automatic speech recognition (ASR). These technologies can translate spoken words from players into text, enabling AI NPCs to reply using a distinct text-to-speech tool, creating fully voiced and interactive game characters with expressive facial expressions. [Nvidia]Southeast Asia-targeted e-commerce platform Lazada is laying off around 2,000 employees, or 20% of its headcount in the first downsizing since Alibabas acquisition in 2016, according to a Tuesday report by LatePost. The redundancy affects not only entry-level staff but also senior roles that rank above P8 and is aimed at bringing down costs, as six Lazada-covered countries have their own operations and support teams while headquarters were also involved in the same work previously. Lazada is still in a loss-making status, order growth has slowed over the past year, and the company also faces tightened competition from regional rival Shopee. The latest overhaul is set to shift focus towards centralized decision-making at the headquarters, which will use data-driven approaches to allocate subsidies and gain user growth for each country, a Lazada source told LatePost. [LatePost, in Chinese]

Tencent Games announced on Tuesday that underage players are allowed a maximum of 16 hours of gaming during the winter vacation and the Chinese New Year. In China, the school term typically begins in September, and the winter vacation is from the end of January to February, varying with the Lunar New Year of that particular year. Underage players can only log in to games between 8 and 9 p.m. on January 26-28, February 2-3, February 9-17, and February 23-24, according to the announcement. In August 2021, the National Press and Publication Administration of China issued a notice limiting the time for providing online gaming services to minors. All gaming companies are allowed to provide one hour of service to minors only on Fridays, Saturdays, Sundays, and statutory holidays between 8 and 9 p.m. [Tencent Games Weibo, in Chinese]Alibaba has introduced a new AI feature that enables viewers to experience Terracotta Warriors dancing on screen to kemusan, a recent viral dance challenge sweeping social media, with videos powered by the image-to-video tool Tongyi Wuwang, which roughly translates as one dance king. Using Alibabas foundation model Animate Anyone, the function is able to animate a full-body photo to a ten-second dance video while maintaining original facial expressions and background, and can be tried directly via the e-commerce giants ChatGPT-like program Tongyi Qianwen. The MagicAnimate-like tool was debuted as Alibabas latest generative AI tool of a wave of artificial intelligence products to hit the public. [Jiemian, in Chinese]

In a New Year letter to employees, a Meituan executive conveyed a shift in the company’s focus, stating that they are now catering to users seeking low prices across the internet, departing from the previous targeted search-based consumer approach, as reported by local media outlet Jiemian. Zhang Chuan, president of Meituans store business group, expressed the belief that this year presents a opportune time to confront intense competition. He emphasized the need to establish a new supply model centered on providing “daily low prices.” Notably, ByteDance’s Douyin poses a significant threat to Meituan, with the widely-used short video platform reporting a 256% growth in gross merchandise volume (GMV) for local life services last year. Zhang characterized Douyin as an influential and rational opponent, describing the ongoing battle as a “brutal and tormented warfare” without an immediate winner. [Jiemian, in Chinese]Li Auto plans to manufacture electric vehicles featuring advanced driver assistance and autonomous driving functions, utilizing Nvidia’s next-generation automotive-grade computer chips, DRIVE Thor. This move marks an expansion of the Chinese automaker’s collaboration with the U.S. chipmaker to address the increasing demand for assisted driving systems. Unveiled in September 2022 and slated for production in early 2025, the DRIVE Thor is a centralized car computer boasting up to 2,000 TOPS of performance. It enables automakers to integrate various intelligent functions into a single artificial intelligence compute platform, resulting in significantly lower development costs, reduced weight, and fewer cables. Chinese EV giants, from BYD to Great Wall Motor, have incorporated partially automated driving functions into their current models using Nvidia’s DRIVE Orin platform, providing 254 TOPS of performance. Furthermore, Geely’s premium EV brand Zeekr is poised to become the inaugural customer for Thor, as indicated in a release dated Sept. 20, 2022, by Nvidia. [Nvidia release]

KeeTa, a Hong Kong-facing food delivery platform owned by Meituan, has grabbed one-third of the territorys market share within six months of its launch. Initially providing food delivery services exclusively in two residential areas, Mong Kok and Tai Kok Tsui, KeeTa now covers the entire Hong Kong territory, and official figures show that it has garnered more than 1.3 million downloads as of January 5. Meituan appears to have successfully replicated its mainland China path to become a market leader in the food delivery field in Hong Kong, as KeeTa accounted for around 30.6% of total delivery orders in the region in November, only behind Foodpanda and surpassing Deliveroo by nearly 3%, according to statistics provided by third-party platform Measurable AI. KeeTa also said it now boasts around 10,000 merchants and has experienced an average monthly merchant growth rate exceeding 30%. [Caixin, in Chinese]KeeTa, a Hong Kong-facing food delivery platform owned by Meituan, has grabbed one-third of the territorys market share within six months of its launch. Initially providing food delivery services exclusively in two residential areas, Mong Kok and Tai Kok Tsui, KeeTa now covers the entire Hong Kong territory, and official figures show that it has garnered more than 1.3 million downloads as of January 5. Meituan appears to have successfully replicated its mainland China path to become a market leader in the food delivery field in Hong Kong, as KeeTa accounted for around 30.6% of total delivery orders in the region in November, only behind Foodpanda and surpassing Deliveroo by nearly 3%, according to statistics provided by third-party platform Measurable AI. KeeTa also said it now boasts around 10,000 merchants and has experienced an average monthly merchant growth rate exceeding 30%. [Caixin, in Chinese]Ant Group is on the verge of finalizing a $200 million deal to acquire Dutch payments firm MultiSafepay, as reported by Reuters, citing multiple sources. The purchase is currently awaiting regulatory approval. The owner of Alipay aims to acquire a 100% stake in MultiSafepay, a company providing income and expenditure services to over 18,000 small to medium-sized businesses, according to information on the companys official website. This latest acquisition follows Ant Group’s majority stake acquisition in the Singapore-based payments firm 2C2P in 2022, marking a strategic move in its global expansion efforts to establish an international cross-border payments network. [Reuters]Ant Group is on the verge of finalizing a $200 million deal to acquire Dutch payments firm MultiSafepay, as reported by Reuters, citing multiple sources. The purchase is currently awaiting regulatory approval. The owner of Alipay aims to acquire a 100% stake in MultiSafepay, a company providing income and expenditure services to over 18,000 small to medium-sized businesses, according to information on the companys official website. This latest acquisition follows Ant Group’s majority stake acquisition in the Singapore-based payments firm 2C2P in 2022, marking a strategic move in its global expansion efforts to establish an international cross-border payments network. [Reuters]

On Jan. 7, Xreal, the Chinese augmented reality company formerly known as Nreal, revealed the Xreal Air 2 Ultra AR glasses for developers, as the company aims to compete with Metas Quest 3 and Apples Vision Pro. Pre-orders for the Xreal Air 2 Ultra are currently available at a price of $699, with shipping expected to begin in March. The new sunglasses-style device features six degrees of freedom (6DOF) tracking, enabling users to engage with immersive AR applications. Notably, the glasses are equipped with two environmental sensors integrated into their frame, which allows real-time tracking of the user’s location within a 3D space and facilitates hand tracking. Despite its lightweight design, at 80 grams the Air 2 Ultra weighs slightly more than its 72 gram predecessor the Air 2. [Xreal]On Jan. 7, Xreal, the Chinese augmented reality company formerly known as Nreal, revealed the Xreal Air 2 Ultra AR glasses for developers, as the company aims to compete with Metas Quest 3 and Apples Vision Pro. Pre-orders for the Xreal Air 2 Ultra are currently available at a price of $699, with shipping expected to begin in March. The new sunglasses-style device features six degrees of freedom (6DOF) tracking, enabling users to engage with immersive AR applications. Notably, the glasses are equipped with two environmental sensors integrated into their frame, which allows real-time tracking of the user’s location within a 3D space and facilitates hand tracking. Despite its lightweight design, at 80 grams the Air 2 Ultra weighs slightly more than its 72 gram predecessor the Air 2. [Xreal]

Tencent Nintendo Switch announced that its original Nintendo Switch Official Store will be de-platformed from Tmall with users advised to make purchases on the new Nintendo Switch Store, due to operational adjustments. The official Nintendo Switch Mall on WeChat, a major social media platform of Tencent, will also temporarily suspend services on January 15, 2024, to be resumed upon update completion. In December 2019, Tencent launched a Chinese version of the Nintendo Switch, but it suspended sales of the extended warranty plan for the Chinese Nintendo Switch in December 2023. [Tencent Nintendo Switch, in Chinese]Chinese automaker Chery is set to launch multiple car models under its mainstream Omoda marque in the spring in the UK, followed by the introduction of its premium Jaecoo lineup in the summer. This strategic move positions Chery against rivals such as South Koreas Hyundai and Kia. Simultaneously, as the manufacturing partner of Jaguar Land Rover in China, Chery is exploring the possibility of establishing two factories in Europe鈥攐ne for the UK and neighboring Ireland, and the other for left-hand-drive markets in the region. Chery has initiated contact with the government for this plan after a British delegation visited China last month. Regional head Victor Zhang told the Financial Times on Thursday that it may take several years for the company to ramp up sales in the country. Chery, Chinas third-largest carmaker, has sold nearly 1.6 million passenger vehicles, both gasoline and electric, from January to November, following BYD and Volkswagens joint venture with Chinas FAW, according to figures from the China Passenger Car Association. [Financial Times]

Tencent’s multiplayer online battle arena game, Honor of Kings, emerged as the highest-grossing mobile game of 2023, raking in approximately $1.48 billion, as reported by market intelligence firm AppMagic. This revenue surpassed the second-ranked battle royale game, PUBG Mobile, by over $300 million. Candy Crush Saga, Genshin Impact, and Roblox claimed the third to fifth positions in 2023, with global revenues of $957 million, $944 million, and $869 million, respectively. Among newly released mobile games from Chinese developers in 2023, HoYoverses Honkai: Star Rail secured the eighth spot with earnings of $659.1 million, while NetEase’s Justice Online generated revenue of $358.2 million, securing the 18th place. [nadianshi, in Chinese]On Thursday, Chinese phone manufacturer OnePlus unveiled its latest device, the OnePlus Ace 3, starting at RMB 2,599 ($366). The Ace 3 serves as a direct successor to last year’s Ace 2, featuring the Snapdragon 8 Gen 2 SoC, a 50MP Sony IMX890 main camera, a massive vapor chamber of 9140mm虏, and a substantial 5500 mAh battery. The device boasts a curved 6.7-inch LTPO AMOLED display with a resolution of 1,240 x 2,772 pixels and a dynamic refresh rate ranging from 1 to 120Hz. Manufactured by BOE, the panel offers a brightness of up to 1,600 nits in Auto mode and a peak brightness of up to 4,500 nits. The company claims that the 100W SuperVOOC fast charging technology can provide a full charge in 27 minutes. [IThome, in Chinese]