Chehaoduo, H Capital, IDG Capital, Mark Yang, Sequoia Capital China

Guazi.com’s offline store. Source: Chehaoduo

Beijing-based Chehaoduo, a Chinese online car trading group backed by investors like SoftBank’s Vision Fund and Sequoia Capital China, announced on Thursday the completion of a new funding round at $300 million to reach the decacorn valuation of over $10 billion.


Japan travel news, japan travel guides, japan holiday destinations and japan reviews

LATEST NEWS

NEWS RELATED

Foxconn unit invests $36m in Gigasolar partnership to develop EV battery materials

REUTERS/Tyrone Siu/File Photo Taiwan’s Foxconn said a subsidiary has invested T$995.2 million ($36 million) in Gigasolar Materials Corp to develop electric vehicle (EV) battery materials. Foxconn, Apple’s main iPhone maker, said the investment via a private placement through a Taiwan-based subsidiary will make it the second-largest shareholder in Gigasolar, known for manufacturing…

Read more: Foxconn unit invests $36m in Gigasolar partnership to develop EV battery materials

China tells e-commerce firms to regulate promotional phone messages

Beijing, China China‘s industry ministry on Tuesday said that it had told e-commerce giants Alibaba, JD.com and Pinduoduo to regulate their use of promotional phone messaging to users ahead of the annual June 18 shopping festival. The directive, delivered during what the ministry said was a meeting on June 11, is the latest move in an…

Read more: China tells e-commerce firms to regulate promotional phone messages

People Digest: HQ Capital MD steps down; Endowus gets chief advisory officer

Private equity firm HQ Capital managing director in Hong Kong Lucian Wu has stepped down from his role after a seven-year stint. In a separate development, Singapore-based wealth management platform Endowus has appointed banking veteran Wei Mei Tan as its chief advisory officer. HQ Capital’s MD Lucian Wu steps down…

Read more: People Digest: HQ Capital MD steps down; Endowus gets chief advisory officer

Used Gadget Specialist Aihuishou Aims for $261 Million IPO

A person checks out an Aihuishou store in 2020 in Shanghai. Photo: VCG Chinese electronics reselling platform Aihuishou has fleshed out the details of its planned IPO, setting a target of $261 million. That target would value the firm, one of the largest second-hand goods platforms in China, at a…

Read more: Used Gadget Specialist Aihuishou Aims for $261 Million IPO

How Apple Watch took on Fitbit, and won – but can Facebook steal the smartwatch crown?

The Apple Watch has come a long way since it hit our wrists six years ago.  It was initially deemed a flop in 2016 and failed to win customers over in the months after it launched. Now it’s the most popular smartwatch in the world, with a 55 per cent…

Read more: How Apple Watch took on Fitbit, and won – but can Facebook steal the smartwatch crown?

ByteDance scores its first mobile game hit in China in ongoing battle with market leader Tencent

A video game developed by TikTok owner ByteDance was China’s fifth-biggest mobile game by revenue in May, demonstrating the company’s potential as a challenger to Tencent Holdings’ dominance of the lucrative sector. One Piece: The Voyage, a pirate-themed game developed by CMGE Technology Group and Nuverse, a game studio wholly…

Read more: ByteDance scores its first mobile game hit in China in ongoing battle with market leader Tencent

Chinese pharmacy platform Yaoshibang secures $270m funding

Chinese pharmaceutical trading platform Yaoshibang, also known as Ysbang, has secured $270 million in a fresh round of financing, the company announced on Tuesday. The new round saw participation from the Chinese conglomerate Zhejiang Pearl River Investment Management, search engine giant Baidu, Green Pine Capital Partners, state-backed Guangzhou City Construction…

Read more: Chinese pharmacy platform Yaoshibang secures $270m funding

Cafe de Coral to speed up China expansion after mainland business, sops boost restaurant firm’s net profit

Hong Kong-listed Cafe de Coral Holdings, one of Asia’s largest restaurant and catering groups operating quick-service restaurants, will speed up its expansion in mainland China with 17 store openings in the pipeline. The company revealed its plans after its net profit for 2020 almost quintupled, despite lower revenue in Hong…

Read more: Cafe de Coral to speed up China expansion after mainland business, sops boost restaurant firm’s net profit

Stanley Ho’s youngest son Mario launches firm to help family offices tap investment opportunities in Greater Bay Area

Retail Giant Suning’s Founder Has Shares Frozen Amid Cash Crunch

COVID gives Japan ‘last chance’ to reverse digital defeat

How Hong Kong’s family offices can use impact investing to help fight wealth inequality

China Digest: Nutshell Therapeutics; Kolmostar in funding news

Chinese cyberattack breached dozens of high-value entities using Pulse Secure networking tool

Horizon Robotics lands USD 1.5 billion in hot autonomous driving sector

Chinese sportswear maker Xtep gets US$129 million boost from Hillhouse Capital to grow K-Swiss, Palladium brands in global markets

OTHER NEWS