Search

China Business News Tuesday (2021-03-08)



News

1. Zhihu files IPO application with US stock exchange.

The Chinese Q&A community platform has announced that it has filed an IPOapplication with the United States Securities and Exchange Commission. Zhihu was founded in 2010 and had 43.1 million content creators contributing, with 315 million Q&As at the end of the year. According to the prospectus, revenue in 2019 and 2020 is CNY 671 million and CNY 1.352 billion, respectively, with a net loss of CNY 104 million and CNY 516 million. Tencent currently holds a stake of more than 10%.


Source: · http://www.ce.cn/cysc/tech/gd2012/202103/08/t20210308_36363849.shtml


2. Change at the top of smartphone manufacturers in China.

Oppo became the largest smartphone seller in China for the first time. This is the result of two factors: the rise of Oppo and the decline of Huawei. This January, Oppo captured 21% of the Chinese market to take the top spot before VIVO and Huawei. One reason for this could be the shift to 5G smartphones, with Huawei relying on chips it stockpiled before the trade restrictions took effect. As a result, Huawei has shifted its focus to the premium market, where profit margins are higher. Oppo was able to capture the ceded market share.


Source: https://36kr.com/newsflashes/1128821177840134


3. Chinese software company in chip industry plans to go public.

CEC Huada Electronic Design was founded in 2009 and aims to provide one-stop EDA and related services to the semiconductor industry. EDA software is the most upstream industry in the chip industry chain. All steps from chip design, chip fabrication, chip packaging, and testing require some EDA software support. The company is currently the leading company with the strongest technical EDA strength in China.


Source: http://finance.ce.cn/stock/gsgdbd/202103/02/t20210302_36349385.shtml


4. Bytedance's TikTok is still the most successful global app.

Sensor Tower Store report reveals that in February 2021, Douyin and overseas version TikTok were the top revenue-generating (non-gaming) apps worldwide with more than USD 110 million using global App Store and Google Play data. These represent a growth of 1.9 times compared to the same period last year. Interestingly, the Chinese version delivers 79% of the revenue, whereas the strongest international market was the US with 8%, ahead of Turkey with 3%.


Source: https://36kr.com/newsflashes/1128815286874625


5. FTSE Russell plans to remove Xiaomi from indexes.

Global index provider FTSE Russell will remove Xiaomi from its global and Chinese indexes and drop the inclusion of a semiconductor company due to a U.S. executive order issued by former President Donald Trump. The changes come after the Trump administration in January blacklisted Xiaomi and eight other companies with alleged ties to the Chinese military, discouraging U.S. investors from holding their shares. Xiaomi denies the allegations and has filed suit against the U.S. government.


Source: https://www.reuters.com/article/us-china-xiaomi-deletion-idUSKBN2AX0XR

3 views0 comments