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

Sep 21, 2021 20:29 PM

Developer R&F Properties to Sell Services Unit to Rival to Repay Debt
The Hong Kong-listed company says it also plans to raise up to $1 billion from two key shareholders as it looks to boost liquidity
Sep 21, 2021 19:49 PM

Midsize Package Specialist to List in Hong Kong
ANE says it’s the top player in the less-than-truckload niche, which focuses on packages weighing 10 kilograms to 3 tons
Sep 21, 2021 19:37 PM

In Depth: How Evergrande Created China’s Most Valuable Automaker Without Selling a Single Car
A look into the debt-riddled developer’s forays beyond real estate shows how it was able to conjure fictions about itself that it used to spin into gold in the financial markets
Sep 20, 2021 07:35 AM

Cover Story: How Evergrande Could Turn Into ‘China’s Lehman Brothers’
Collapse of China’s ‘too big to fail’ property development giant could involve $309 billion of debt and set off a financial tsunami affecting millions of people
Sep 18, 2021 05:54 AM

Hong Kong’s Prenetics to Go Public in U.S. via $1.7 Billion SPAC Deal
Covid-testing biotech rides surge in demand and boom in special purpose acquisition companies to generate proceeds of $459 million
Sep 18, 2021 03:49 AM

Amazon Kicks Out 600 Chinese Brands for Fake Reviews
Crackdown also weeds out merchants involved in identity falsification, bribery and sale of counterfeit goods, company vice president for Asia reports
Sep 17, 2021 20:36 PM

Top China Audio App Flags Risks From Regulatory Crackdown Ahead of IPO
Tencent-backed Ximalaya says tougher enforcement of online content could harm business as it applies for Hong Kong listing
Sep 17, 2021 19:35 PM

World’s Top Solar-Panel Maker Reports Dismal Profits
Jinko Solar's profit fell 31% in the first half, and a whopping 51.6% in the second quarter as price of raw materials spiked
Sep 17, 2021 19:14 PM

Distillers in China’s ‘Baijiu’ Heartland Suffer Damage in Sichuan Earthquake
One of the worst hit producers lost more than 200 tons of liquor, about a fifth of its inventory
Sep 16, 2021 19:45 PM

State-Owned Chinese Coal Giants Pledge to Buy Green Power
A dozen producers vowed to participate in the new trading program that aims to support the country’s transition away from polluting fuels like coal
Sep 16, 2021 19:15 PM

GM’s China Venture Is Developing Its Own Microchips, Report Says
SAIC-GM-Wuling Automobile says it aims to improve the quality and cost effectiveness of its chips through a project it has been working on since 2018
Sep 16, 2021 16:20 PM

China’s August Crude Steel Output Drops 4.1% From Previous Month
The figure represents a year-on-year decline of 13.2%, showing that a national campaign to cut production is having an effect
Sep 16, 2021 06:56 AM

Caixin Explains: What’s at Stake in the Massive Unigroup Restructuring
Bidders for the $46 billion business with a prominent role in China’s chipmaking ambitions include SOEs from Guangdong, Beijing and Wuxi, plus Alibaba
Sep 16, 2021 03:37 AM

Huawei Launches Industrial Operating System for Coal Mines
HarmonyOS-based software replaces grab bag of Linux, Unix and Windows systems and promises greater efficiency and safety in mining
Sep 15, 2021 20:40 PM

Undeterred China Vaccine-Maker Reapplies for Hong Kong IPO After Rejection
AIM Vaccine tries again after first bid was knocked back in July as it seeks to raise capital amid a domestic race to develop mRNA Covid-19 vaccines
Sep 15, 2021 20:14 PM

China KFC Operator Warns Third-Quarter Profits May Be Slashed in Half on Delta Outbreak
Yum China says spread of the coronavirus variant and subsequent travel restrictions has ‘sharply reduced sales’
Sep 15, 2021 19:56 PM

Chinese Internet Firms Told to Tear Down ‘Walls’ That Block Links to Rivals
The practice of turning platforms into ‘walled gardens’ is common, with some of the biggest players also the biggest offenders
Sep 15, 2021 06:25 AM

Samsung Workers Protest Shutdown of Ningbo Shipyard
Closing of low-profit operation after 26 years takes place amid shift in Asian shipbuilding as South Korea and China pursue expansion strategies
Sep 15, 2021 05:41 AM

China to Form New China Power Equipment Group
State Council clears electrical-gear combination of Xidian, Pinggao and Baoguang Vacuum Electronic Apparatus as part of a long-running industry overhaul
Sep 14, 2021 21:00 PM

Meituan Offers Glimpse Into How Takeout Delivery Times Are Set
Internet giant describes how its algorithms work, promises to tweak them to ease pressure on drivers