A look at Chinese food delivery giant Meituan's subsidy war with Alibaba and JD.com, leading Meituan to a big Q3 loss and internal debate over global expansion
Competition from Alibaba and JD.com for fast-growing instant retail market has hit the Beijing-based group
Beijing-based DP Technology, which develops AI tools used by researchers for tasks like computer-aided drug design and battery design, raised a ~$114M Series C
Eunice Xu / South China Morning Post :
Beijing-based DP Technology, which develops AI tools used by researchers for tasks like computer-aided drug design and battery design, raised a ~$114M Series C
The Beijing-based AI-for-Science firm said the Series C round would fund hiring and R&D, as interest grows in using AI to speed up scientific discovery
Beijing-based Kuaishou's stock climbs after the company said it expects its video-generation service Kling AI to hit $100M in annual revenue by February 2026
Update Jiahui Huang / Morningstar, Inc. : Kuaishou Technology Shares Surge on Robust Revenue From Kling AI Nellius Irene / Cryptopolitan : Kling AI to hit record sales
Beijing-based Meituan says it plans to spend $1B over five years to bring its food delivery service Keeta to Brazil, after a Saudi Arabia rollout in 2024
Bloomberg :
DeepSeek cuts API prices in off-peak times, between 00:30 and 08:30 in Beijing, by 75% for R1 and 50% for V3; the times are during US and Europe daylight hours
Eduardo Baptista / Reuters :
Beijing-based AI startup Zhipu, which aims to make services tailored to the China market, raised $412M, after raising $400M at a ~$3B valuation in May 2024
Bloomberg :
CamScanner app maker Intsig is the best-performing China IPO stock in 2024 for $100M+ listings, after a euphoric market response to Beijing's stimulus measures
Bloomberg :
Chainalysis: inflows to China's over-the-counter crypto brokers topped $20B in Q4 2023, Q1 2024, and Q2 2024 for $75.4B in total, despite Beijing's crypto ban
Suvashree Ghosh / Bloomberg :
Beijing-based AI startup Baichuan raised about $687M at a $2.8B valuation from investors, including Beijing, Shanghai, and Shenzhen governments, and Alibaba
Bloomberg :