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36Kr (EN)

Bilibili's market cap in HK: USD 38.8 billion

Bilibili

Bringing together the latest business insights and trends of China's tech ecosystem.

China Tech

Entertainment is a form of activity that holds the attention and interest of an audience or gives pleasure and delight. 

Entertainment

The game industry is the economic sector involved in the development, marketing, and monetization of games. It encompasses dozens of job disciplines and its component parts employ thousands of people worldwide.

Gaming

Video-streaming platform Bilibili (NASDAQ: BILI; HKEX: 9626) fell 2.29% in the morning session in Hong Kong, after opening for trading at HKD 790 on Monday, raising USD 2.6 billion.

KEY STAT | Bilibili drops in Hong Kong debut in another tepid homecoming listing | KrASIA

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KEY STAT | Bilibili drops in Hong Kong debut in another tepid homecoming listing

Spotlighting Asia&#039;s next wave of innovations.

KrASIA

https://secure.gravatar.com/avatar/2bddd502480722fd382ec92dfe2fcb9f?s=96&d=mm&r=g

Julianna Wu

Evergrande NEV's loss in 2020: USD 1.2 billion

Electric Vehicles

Mobility

Tencent-backed Evergrande New Electric Vehicle (HKEX: 0708) reported USD 2.4 billion in revenue for 2020, up 175% year-on-year, while losses doubled to USD 1.19 billion, according to the company's latest earnings report.

KEY STAT | Evergrande NEV shares rise 7.3% despite ballooning losses | KrASIA

KEY STAT | Evergrande NEV shares rise 7.3% despite ballooning losses

Tencent Holdings Limited is a Chinese multinational investment holding conglomerate whose subsidiaries specialize in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally.

Tencent

WeChat is a Chinese multi-purpose messaging, social media and mobile payment app developed by Tencent. It was first released in 2011, and by 2018 it was one of the world's largest standalone mobile apps by monthly active users, with over 1 billion monthly active users.

Wechat

Fintech is the new applications, processes, products, or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the internet.

Fintech

Social Impact

Chinese tech conglomerate Tencent (HKEX: 0700) posted strong revenue growth of 28% for 2020 to reach USD 74.4 billion in sales, as online entertainment, social media, and investments brought in a steady stream of cash. Net income for the year was USD 24.5 billion, a 71% jump from 2019, exceeding previous estimations of USD 20 billion.

KEY STAT | Tencent reports USD 74 billion revenue for 2020 | KrASIA

KEY STAT | Tencent reports USD 74 billion revenue for 2020

NIO (Chinese: 蔚来; pinyin: Wèilái) is a Chinese automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric autonomous vehicles. The company is also involved in the FIA Formula E Championship, the first single-seater, all-electric racing series.

Electric vehicle (EV) manufacturer Nio (NYSE: NIO) announced that its power swap stations across China have completed 2 million battery swaps until Wednesday, according to the firm's Weibo post.

KEY STAT | Nio reaches milestone for battery-swap program | KrASIA

KEY STAT | Nio reaches milestone for battery-swap program

JD.com, Inc., also known as Jingdong and formerly called 360buy, is a Chinese e-commerce company headquartered in Beijing.

Grocery Delivery

An on-demand service platform connects waiting-time-sensitive customers with independent service providers.

On-Demand Services

E-commerce giant JD.com (NASDAQ: JD) and its on-demand delivery affiliate Dada Group (NASDAQ: DADA) on Monday released a joint announcement, indicating that JD has agreed to buy USD 800 million worth of ordinary shares from Dada, increasing its holding to 51% after the transaction.

KEY STAT | JD.com increases stake in logistics affiliate Dada | KrASIA

KEY STAT | JD.com increases stake in logistics affiliate Dada

IPO of IoT cloud platform Tuya raises USD 915 million

In computer science, artificial intelligence (AI), sometimes called machine intelligence, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and animals.

The Internet of things (IoT) is the extension of Internet connectivity into physical devices and everyday objects. Embedded with electronics, Internet connectivity, and other forms of hardware, these devices can communicate and interact with others over the Internet, and they can be remotely monitored and controlled.

Tencent-backed internet of things (IoT) cloud platform Tuya Smart (NYSE: TUYA) opened for trading on the New York Stock Exchange on Thursday, raising USD 915 million with at an initial offering price of USD 21, higher than its original target of USD 20. The stock finished the session at USD 25, up 19%.

KEY STAT | Stock of Chinese IoT cloud software Tuya rallies in NYSE debut | KrASIA

KEY STAT | Stock of Chinese IoT cloud software Tuya rallies in NYSE debut

Baidu's secondary listing to raise USD 3.1b

Baidu

Venture capital is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth.

Venture Capital

Internet giant and AI developer Baidu (NASDAQ: BIDU) will be raising about USD 3.1 billion from its secondary listing in Hong Kong, at a share price of HKD 252 (USD 32.5), which is 14.6% lower than the maximum target of HKD 295, according to its filing.

KEY STAT | Baidu kicks off 'homecoming' listing, remains short of its target | KrASIA

KEY STAT | Baidu kicks off &#8216;homecoming&#8217; listing, remains short of its target

70 A-share IPOs have been cancelled in 2021

Since the start of the year, 70 IPO applications on the A-share market have been aborted, compared with 43 in Q4 2020, according to local financial news outlet 21 Century Business Herald, which cited data from Wind. The majority of them has quit on a voluntary basis during the inspection.

KEY STAT | Inspection procedure is slowing China's IPO boom | KrASIA

KEY STAT | Inspection procedure is slowing China&#8217;s IPO boom

Nayuki brews up hip tea culture with IPO in sight

Retail

Visual Stories

Founded in 2015, Nayuki has won over millions of Chinese consumers with its "new-style tea drinks"—a blend of fresh tea, milk foam, and fruit chunks served in a to-go bottle that is designed to keep lipstick stains off its rim. While coffee chains like Starbucks, Tim Hortons, and Luckin struggle to find their way in a country where tea is favored over coffee, Nayuki is brewing up an IPO in Hong Kong at a time when it racked up net losses to the tune of RMB 27.5 million (USD 4.26 million) in the first nine months of 2020.