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Transsion sees 732% net profit increase, but not from selling phones
Profit increase related to foreign currency futures.
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Behind the company's fast expansion there are also billions of net loss.
The move follows developments that were shaped by Tencent, Alipay, Baidu, and ByteDance.
The EV maker might need another USD 2.1 billion in cash between 2019 and 2020 to stay afloat.
The pilot service will be operative on public roads.
A move in line with Alibaba's Double H strategy.
Yinyuebang may also be ByteDance's solution to acquiring rights to new music.
The online home decoration platform is now a unicorn.
It still takes time for Pinduoduo to prove its value to investors as it is still unprofitable.