EqualOcean

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China's largest e-commerce company is transforming its development strategy. Pinduoduo turned losses into gains in the second quarter of 2021, defending its leading position in the Chinese e-commerce area with 849.9 million annual active buyers. Pinduoduo mainly focuses on lower-tier cities' customers and follows a 'universal social welfare' way to expand its...

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The company has secured a supply partnership with SK Innovation (SKI), a South Korean power battery supplier, which will provide it with high nickel-based Li-ion batteries with 80% nickel content. After two months of pre-sales, XPeng Motors' new sedan, the P5, officially went on sale on September 15 at prices several thousand CNY lower than the pre-sale...

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Antitrust, reform in education, real estate and medical care policies, Common Prosperity... all of these show that China is undergoing earth-shaking change. These changes have brought large uncertainty, making many investors afraid to invest in Chinese projects and companies. However, over the next decade, China sure will become the world's largest economy. How to...

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XPeng expects to expand its supercharging stations to dozens of cities, including Taiyuan, Tangshan, Nantong and Luoyang, within the next three months. XPeng Motors said Tuesday it put 102 new supercharging stations into operation in August, bringing the total to 400, covering 101 cities in China. Sixteen of those superchargers are located in highway service...

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The NEV sales volume accounted for 17% of total new car sales in the month. Li Auto had the highest number of insurance registrations among China's new car makers in August, with 9,394 units, according to a table released Saturday by Sina Auto based on data from the China Automotive Technology and Research Center (CATARC). XPeng Motors came in second, with 6,945...

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The company's CEO Elon Musk said to roll out an entry model in 2023. Tesla announced on Weibo on Saturday that the starting price of the Model Y Performance in China has been raised by CNY 10,000 (USD 1,550) to CNY 387,900, with those who have previously reserved unaffected. The Securities Times quoted a Tesla China public relations source as saying that the...

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China's online entertainment service company iQIYI released its unaudited Q2 2021 financial results on August 12. The revenue growth was rather unimpressive, while the company has been implementing strategies around expanding market presence, diversifying content, and securing a larger user base in light of future growth. iQiyi (IQ:NASDAQ) is an online...

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So far, the gaming giant has sued or sent letters to more than 20 account trading platforms and several e-commerce platforms, demanding them to stop all relevant services. The rates for account renting services for Honor of Kings – which usually cost CNY 33 per two hours – have been emerging on the Internet and, in response, Tencent Game, the gaming sector under...

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The Chinese local on-demand delivery and retail platform has announced its unaudited financial results for the second quarter, maintaining the strong growth momentum. – In the second quarter of 2021, Dada Nexus' (DADA:NASDAQ) total net revenues increased to CNY 1.47 billion, which is above the Street's consensus expectation of CNY 1.41 billion and the company's...

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The company generated CNY 558 million in net profit in Q2 2021, up 695% from a year ago. Cango facilitates transactions through a technology-enabled service platform in China's automotive industry. The country's auto market is reviving and is set to be in a growth trajectory for quite some time. The company has expanded its upstream business, entering the...

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The overall favorable financials and rather a low valuation of the Chinese fintech present a new investment opportunity. Lufax achieved positive year-over-year growth in key financials during the second quarter of 2021. Larger clients are cutting more shares in credit loan and asset management sectors. The stock repurchase plan is expected to boost Lufax's...

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Deliveries of the new Li ONE began on June 1. Li Auto delivered a record 9,433 units of the Li ONE, the company's only model, in August, up 248 percent year-over-year and 9.8 percent from July. That number exceeded many expectations, considering the company gave conservative guidance for the third quarter in its earnings report released earlier this week. For...

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Xpeng P5 will officially go on sale on September 15, and deliveries will start at the end of October. XPeng Motors delivered 7,214 vehicles in August, up 172 percent year-over-year and down 10 percent from July. The company delivered 6,165 P7s and 1,049 G3s in July. 2021 year-to-date deliveries reached 45,992 vehicles, representing a 334 percent increase...

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The company has begun allowing customers to test drive ES8 in Norway. NIO delivered 5,880 vehicles in August, up 48 percent year-over-year and down about 26 percent from July. The deliveries consisted of 1,738 ES8s, 2,342 ES6s, and 1,800 EC6s. Supply chain disruptions in Malaysia and Nanjing, China, caused by local pandemic outbreaks, significantly hampered...

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As a global technology-based securities firm, Futu Holdings Limited (Futu:NASDAQ) is committed to driving innovation with science and technology to provide more convenient and ultimate financial science and technology services for major markets around the world. According to Futu's released performance report for the second quarter of 2021: - The total revenue...

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The platform earned CNY 43.80 billion in Q2 2021 while reducing its monthly operating loss to CNY 3.25 billion. According to survey data, 60% of full-time riders have a monthly income of more than CNY 5,000. - On August 30, 2021, Meituan, the Chinese life service e-commerce platform, released its Q2 financial report. The report shows that the company earned a...

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Nio will enter the German market in 2021 at the earliest. NIO has started allowing Norwegian users to test-drive its ES8 SUV, marking its latest step in entering the international market. NIO Norway User Head An Ho shared the news on the NIO App, saying that the test drives opened on August 30 and nearly 300 spots were filled within three days of...

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The income from home appliances and electrical appliances accounts for more than 80%; the proportion of new businesses such as robots has increased. According to the interim performance report for 2021: - The operating revenue increased by 24.98%, reaching CNY 173.8 billion. - The net profit attributable to the parent company increased 7.76%, reaching CNY 15...