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China Business News Monday (2021-02-15)

Updated: Feb 15, 2021


1. Baidu launches its self-driving vehicles platform

Baidu this week launched a multimodal mobility-as-a-service pilot program in Guangzhou, China. Through the company's Apollo platform, Guangzhou residents can access self-driving taxis, automated shuttles, self-driving buses, autonomous police robots, and even driverless vending carts via integrated apps. Previously, these Apollo robot cabs were also available to the general public in Beijing, Changsha, and Cangzhou.


2. Rental power bank giant Energy Monster plans to go IPO.

The rental power bank company Energy Monster (怪兽充电) plans to conduct an IPO in the United States this year. They are currently negotiating with investment banks such as Citi, CICC, China Renaissance, and Goldman Sachs. The goal may be to go public in the first half of this year and raise US$300 million.


3. Surprisingly, Bydance has suddenly dropped its legal battle with Baidu.

Bydance and Baidu have been overlapping with various mutual lawsuits over the past few years.These were mainly about stealing user videos the unauthorized use of APIs. Now, however, Bydance has unexpectedly withdrawn a lawsuit.


4. Maotai reaches younger customers/ stock rises incredible.

Maotai, the spirits company, reaches younger customers through a viral song and increased the customer base. They have more than doubled their share price in the last year and have risen more than 30% since the beginning of 2021. According to FactSet surveys, analysts forecast that Moutai will have a net profit of $8.5 billion and sales of $17.6 billion in 2021 and could become the world's most valuable consumer goods companies in the long term.


5. Bridgewater has increased its holdings in Chinese eCommerce companies.

Based on their latest fund report, Bridgewater has sold Tesla and invested heavily in Chinese eCommerce companies such as Alibaba and Pinduoduo. They also have a large position in other famous Chinese companies such as NIO,, Baidu, Bilibili, and Huya. The biggest increase in shares can be seen in NIO.


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