Business and Tech News in China: internet giants, startups, SOEs

Sep 01, 2021 19:31 PM

E-Commerce Sites That Flout Intellectual Property Rules Could Be Shuttered Under Draft Law
Revision to IP law would see firms like Alibaba and Pinduoduo lose their licenses or face trading restrictions
Sep 01, 2021 18:03 PM

Amid Tough New Rules on Minors Gaming, NetEase Says Less Than 1% of Revenue Comes From Teens
The gaming giant says it fully supports new rules that limit under 18s to just three hours of online play a week
Sep 01, 2021 06:14 AM

ByteDance Workers Take a 20% Pay Hit as Sunday Overtime Ends
While tech giants are under government pressure to ease grueling work schedules, employees worry they’ll be stuck with the same workload for less income
Aug 31, 2021 20:07 PM

Hotpot Chain Xiabu Xiabu Comes to a Post-Pandemic Simmer With 58% Revenue Boost
While Hong Kong-listed chain slashes losses by 81%, it is still planning to shutter 200 unprofitable outlets
Aug 31, 2021 19:47 PM

Evergrande Electric Car Unit Says Ballooning Losses May Force Production Delays
Unit may have to push back mass production from originally planned rollout later this year, with sources estimating a 2022 start
Aug 31, 2021 19:40 PM

Moutai Chairman Ousted After Just 18 Months in the Job
Latest personnel shakeup at world’s most valuable liquor company follows a string of corruption scandals
Aug 31, 2021 06:36 AM

Meituan Reports More Red Ink Thanks to New Businesses
Deficits from community group buying and other additions more than offset doubling of profits from core food-delivery and hotel operations
Aug 30, 2021 20:54 PM

Shares Linked to China’s Second-Largest Broadcaster Plummet Amid Star’s Sexual Assault Scandal
Shenzhen-listed Mango Excellent Media’s share price has dropped by 13% since a high-profile talk show host was accused of sexual assault
Aug 30, 2021 20:46 PM

Chinese Gaming Shares Slump as Minors Limited to Three Hours’ Play Per Week
Tough new limits for underage players send stocks of NetEase, Bilibili down
Aug 30, 2021 20:34 PM

Sinopec Swings Back to Profit on Rebound in Oil Prices
China’s biggest oil refiner reports higher earnings as post-pandemic recovery lifts demand for refined oil products and chemicals
Aug 30, 2021 20:00 PM

Tianqi Lithium Back in the Black on Surging Prices
As one of the world's top producers of electric vehicle battery component lithium, the company saw revenue jump 25% in the first half
Aug 30, 2021 19:50 PM

Geely’s Electric Car Brand Raises $500 Million
Zeekr plans to launch six models within three years
Aug 27, 2021 21:40 PM

Fosun Pharma Posts 45% Jump in Profits on Strong Cancer Drug Sales
Company still waiting for approval to manufacture and sell German-developed Covid vaccine to Chinese mainland
Aug 27, 2021 21:23 PM

Video Streamer IQiyi Vows to Cancel Idol Talent Shows to Help Rein In Fan Club Culture
Platform says it will stop running the popular programs and will no longer host any form of online voting
Aug 27, 2021 19:23 PM

PetroChina Rides Higher Oil Prices to Best First-Half in Seven Years
The energy giant recovered from a pandemic-induced 30 billion yuan loss in the first half of last year, posting a 29% surge in revenue
Aug 27, 2021 06:26 AM

Evergrande Warns of 40% First-Half Profit Plunge
Core property business recorded its first loss as real estate prices dropped, and the new-energy vehicle unit went deep into the red
Aug 27, 2021 05:38 AM

Hong Kong Cooking Platform DayDayCook Seeks U.S. IPO in SPAC Deal
Alibaba-backed seller of ready-to-cook food to get $46.9 million in deal that values the enterprise at $300 million
Aug 26, 2021 22:16 PM

Huawei’s Auto Drive Could Sputter Amid Concerns Over Smart Car Tie-Ups
Industry experts question telecoms giant’s partnership model with domestic carmakers
Aug 26, 2021 19:46 PM

In Depth: Plight of China’s Gig Workers Poses Policymaking Dilemma
The government is walking a fine line between improving working conditions while minimizing the impact of added costs on an industry that employs millions
Aug 26, 2021 18:51 PM

Departed Sinotrans Chairman to Take Job at Another Subsidiary of China Merchants Group, Source Say
Li Guanpeng resigns from all his positions at one of the world’s top logistics companies