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The firm generated USD 904.9 million in revenue in the first quarter, representing a yearly 35.3% historical high increase.

Weak sales in electronic products and gaming drag profit down amid lockdowns.

Baidu says it will promote livestreaming services more actively and hopes to cultivate 1,000 livestreaming stars.

Tencent gaming revenue, aided by a gaming consumption boom, has allowed the company to withstand COVID-19 headwinds and look to the future.

According to the report, Ribbit Capital, Accel, and Sequoia Capital were the top five active funds who backed Indian fintech companies.

Dada Nexus’ IPO marks the second China-based company aiming to go public in the US after the Luckin Coffee scandal involving fraudulent financials.

China, beset by the outbreak, was where disruptions began, but as the pandemic spread globally, so did plant closings and lockdowns.

Lamudi was founded in 2013 with the backing of Rocket Internet.