Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Trending in China: The Fake Writing Competition That Conned Beijing Parents for Years
ByteDance Powers Up Gaming Investment with C4games Acquisition
Didi Given Greenlight to Test Autonomous Vehicles in Beijing Pilot Zone
Xpeng Debuts New Car As China’s NEV Market Heats Up
Lenovo Still Top Dog in Global PC Market in First Quarter of 2021
Tesla Says Any Data It Collects in China Is Stored in the Nation
Medtech Startup StoneWise Raises $100 Million to Promote Use of AI in Drug Development
Plus Accelerates Uptake of its Autonomous Truck Tech with Italian IVECO Deal
Trending in China: Farmer Given Suspended Jail Time For Felling Own Trees – Social Media Chimes In
‘Tickets Please!’ Baidu Allowed to Charge for Robobus Service in Chongqing
Didi Reportedly Looking to List in U.S. as Soon as July
China’s NEV Sales Balloon in First Quarter on Strong Demand from Individual Consumers
Honor of Kings Beats PUBG Mobile as World’s Highest-Earning Mobile Game in March
Didi to Expand New Logistics Service From 8 to 19 Cities in China
China’s Li Auto Raises $750 Million Through Bond Sale to Fund Electric Car Development
Plant-Based Food Firm Beyond Meat to Open Plant Based in China
iFlyTek Hopes to Cash in on Pandemic Driven Demand for AI Services and Devices
Joint Alibaba and Russian Online Retailer AliExpress Plans IPO as Early as 2022: Report
Trending in China: ‘Easy to Buy, Hard to Redeem’ – Airline Pandemic Related Coupons Under Fire
Tesla Counters Spying Concerns Saying Car Cameras Not Activated Outside North America
Bilibili Invests in Mobile Game Developer Amid Push to Expand Content Library

By Ding Yi / Apr 02, 2021 05:42 PM / Business & Tech

Chinese video streamer Bilibili, dual listed in New York and Hong Kong, has made an equity investment in Shanghai-based mobile game developer XD Inc., as it aims to build a content library that can cater to the various tastes of animation fans, moviegoers, gamers as well as merchants.

Bilibili, which just made its secondary listing in Hong Kong last month, has acquired a 4.72% stake in XD for HK$960 million ($124 million), according to a stock filing on Thursday.

Some industry analysts said that the share purchase could give Bilibili greater access to XD’s own games and its online game sharing community TapTap, which had 24.8 million monthly average users in the first half of 2020, representing a year-on-year increase of 51.9%.

Bilibili counts its gaming business as one of its major revenue sources. According to its latest earnings report, the company’s revenue derived from mobile games rose 30% year-on-year to $173.1 million in the fourth quarter of last year, accounting for nearly a third of its total revenue.

In December 2019, Shanghai-based Bilibili won a bid to become the sole broadcaster in China of the popular online multiplayer game League of Legends’ annual World Championship between 2020 and 2022.

Bilibili’s investment came just days after ByteDance’s gaming subsidiary Nuverse announced an agreement to acquire Shanghai-based mobile game developer Moonton in a challenge against Tencent and NetEase in the country’s gaming sector.

Contact reporter Ding Yi (

Related: ByteDance Snaps Up Mobile Legends Publisher as Gaming Tussle With Tencent Intensifies

Share this article
Open WeChat and scan the QR code