Alibaba

The deal will make Yunda the second-largest shareholder of Deppon with a 6.5% stake.

Throughout the years, the Japanese conglomerate has made a series of deals in China that shaped up the country’s business and tech.

While Alibaba withstood China’s macroeconomic slowdown in early 2020, a wave of digitization spurred growth in e-commerce livestreaming, cloud services, and enterprise software.

The company’s shares have fallen more than 60% since its peak in May 2018.

Despite a sharp drop in first-quarter sales because of the coronavirus pandemic, smart speaker shipments in China are projected to grow 9.8% in 2020.

The firm’s value has risen more than a third within two years.

The on-demand delivery giant is expanding to other local life services as it aggressively marches into the power bank sharing business.

Tencent’s enterprise version of WeChat saw huge user growth during the outbreak period as it embraced the transition to remote work.