Bilibili Clarified Recent Labor Cut and Adjustment on Modified Services

On May 20, Chinese video-sharing platform operator Bilibili （哔哩哔哩） disclosed that the company is running modifications in multiple product lines, resulting in subsequent labor cuts.

China’s Leading Tea Brand Nayuki Closed its Fantasy Factory Within Two Years

On May 20, Chinese bubble tea chain Nayuki (奈雪的茶) announced that its only Shenzhen-based Fantasy Factory (奈雪梦工厂) recently closed after establishing for two years.

China's Auto Chip Designer Grecon Semi Acquires Tens of Mns of CNY in Pre-A Funding Round

China Passenger Car Association expects NEVs sales to reach 5.5 million this year.

Cross-border Marketing Firm Brandgogo Raises Nearly Tens of Mns of CNY in Angel Round

With the intense competition in the cross-border e-commerce industry, overseas traffic and marketing costs are increasing. Meanwhile, due to differences in language and culture, Chinese cross-border vendors are not accustomed to overseas marketing

NIO Lists on SGX Today, Shares up 2% on Trading Debut

NIO began trading at USD 16.90 and rose to as high as USD 20.29 during the intraday trading upon its debut on the Singapore bourse.

Electrophysiology AccuPulse Raises Nearly CNY 100 Million in Series A Funding

Founded in November 2020, Suzhou AccuPulse is committed to becoming an international leading platform-based innovative cardiac electrophysiology company. The company has established a research and development team led by well-known electrophysiological experts in the US with R&D centers in Suzhou and in the United States.

FAW-Volkswagen to Hike Prices of ID. CROZZ Models on May 23

Shen Yanan, the president of Li Auto, said that the soaring cost of raw materials is to blame for higher new energy car prices.

Healthcare Managed Service Provider Boyuan Health Nets Tens of Mns of CNY in Angel Round

Boyuan Health provides one-stop home healthcare services, covering maternity care, chronic disease care, child care (0~24 months), elderly care and escort services.

ByteDance to Adjust Branding and Investment Proportion of Jinqiu Venture Capital

The firm has new plans for its capital venture Jinqiu Ventures, by rebranding and changing the investment ratio.

Sirius Medtech Raises Tens of Mns of CNY in Pre-Series A Round

Founded in 2019, Sirius Medtech, a medical device firm, will accelerate its R&D progress in the interventional treatment of pulmonary embolism and congestive heart failure.

Xiaomi’s Net Profit Fell by 52.9% YoY

Xiaomi’s Q1 2022 Financial Report indicated the global smartphone market’s condition. Whether Xiaomi’s new research on smart electric vehicles can succeed or not had caught huge attention due to the high cost of the early-stage research.

Driving System Provider Leekr Bags CNY 200 Mn From Series A and A+ Funding Round

Leeker received funds from two rounds of financing, which will mainly be used for the construction of the Industrialization Base, R&D of products, and products delivery.