Sources: Thrive and Capital Group visited China to study its AI scene, joining a wave of US investors rekindling interest in China after DeepSeek's advances
Lulu Yilun Chen / Bloomberg : X: @luluyilun X: Lulu Yilun Chen / @luluyilun : Scoop: Capital Group, Kushner's Thrive visited China to study AI scene, as US investors rekindle inte...
Alibaba reports Q1 revenue up 7% YoY to ~$32.8B, below $33B est., and net income up 279% to ~$1.7B, partly due to its equity investment gains; BABA drops 5%+
Crypto Sentiment Shifts Cissy Zhou / Nikkei Asia : Alibaba's Q1 revenue falls short as international e-commerce falters Bill McColl / Yahoo Finance : Alibaba Misses Forecasts on Ch...
An interview with eFishery CEO Gibran Huzaifah and 20+ sources detail how Gibran's “fake-it-till-you-make-it” deceptions spiraled, losing investors $300M+
Agritech venture eFishery was one of Asia's brightest startups with money from the likes of SoftBank and Temasek.
Sources: Ant Group's transformation into a fully regulated company has been on hold for over a year as China reshuffles its regulatory system
Powerful new regulator will have to approve the fintech giant's application to become a financial-holding company
Sources: China decided to rein in Tencent after two scandals, including a secret WeChat project to use data to predict new Politburo standing committee members
Imagine for a second life before smartphones. Simple tasks—ordering takeout, staying in touch—become frustratingly difficult, never mind dealing with emergencies. Tweets: @sandyhe...
After Chinese state media criticized online gaming as “opium for the mind” in a now-deleted article, Tencent announces stricter rules for young users
Shares of NetEase and Bilibili also suffer steep falls — Shares of Tencent Holdings Ltd. and rivals plummeted Tuesday …
An in-depth look at the political motivations behind China's tech crackdown, as Xi pursues progressive authoritarianism at the expense of international capital
Bloomberg :
China issues regulations for food delivery platforms, mandating minimum wage, respect for worker rights, and more, leading to Meituan shares dropping by 14%+
- It extended losses after Beijing issued food platform curbs — Meituan is grappling with a broader antitrust investigation
China issues regulations for food delivery platforms, mandating minimum wage, respect for worker rights, and more, leading to Meituan shares dropping by 14%+
- It extended losses after Beijing issued food platform curbs — Meituan is grappling with a broader antitrust investigation
In a blow to the edtech sector, China orders tutoring companies teaching the school curriculum to go non-profit, bans them from IPOs and raising foreign capital
Bloomberg :
In a blow to the edtech sector, China orders tutoring companies teaching the school curriculum to go non-profit, bans them from IPOs and raising foreign capital
Bloomberg :
Sources: China plans rule changes requiring Chinese companies to seek approval to list overseas, even if the unit selling shares is incorporated outside China
- Securities regulator working to change overseas listing rules — Change would require VIE firms to get nod to list offshore
China is escalating a crackdown on its online education sector, which received $10B+ in VC funding last year, unraveling plans for several mega-IPOs
Bloomberg :
Tencent shares fell 4% on Monday and 4.4% on Friday, wiping out $62B, as sources say China's regulators will focus on Tencent following Ant Group crackdown
- Its fintech, payments business worth $120 billion: Bernstein — Shares fall a second day on concern over regulatory scrutiny
Sources: Jack Ma's Ant Group has reached an agreement with Chinese regulators to turn Ant into a financial holding company, subject to bank capital requirements
China's central bank tells Ant it must overhaul its lending, insurance, and wealth management businesses and come up with a timetable as soon as possible
- Authorities require Ant to overhaul business, set up timetable — Ant was blasted over governance, disdain toward compliance
Chinese AI company SenseTime, blacklisted by Trump last year, saw its revenue surge 147% to $720M in 2019 and expects an 80% revenue growth in 2020
- World's largest AI startup SenseTime sees business boom — SenseTime is said to expect 80% revenue growth this year Tweets: @retogregori and @luluyilun Tweets: Reto Gregori / @...
Alibaba closes the acquisition of 33% of Jack Ma's Ant Financial; Ant will now stop paying 37.5% of its pre-tax profits to Alibaba
- E-commerce giant now has 33% interest in the fintech giant — Ant will no longer pay 37.5% of its pre-tax profit to Alibaba
Megvii, a China-based facial recognition focused startup, files for a Hong Kong IPO; Megvii has raised $750M, reportedly at a $4B valuation, earlier this year
Arjun Kharpal / CNBC :
Megvii, a China-based facial recognition focused startup, files for a Hong Kong IPO; Megvii has raised $750M, reportedly at a $4B valuation, earlier this year
KEY POINTS — An attendee uses his smartphone to record a facial-recognition demonstration on himself at the Beijing Megvii Co. booth …