Alibaba

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.

Active user number retained high growth speed for the third consecutive quarter despite the COVID-19.

Last week Zomato also announced cutting 13% of its total workforce.