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Dec 19/ Tuesday

10:56 AM

EcoFlow Fined 100 Million Euros from EU, Sources Say

The prominent Chinese provider of portable power solutions, EcoFlow, is reported to have incurred a substantial EUR 100 million fine from the European Union, as disclosed by reliable sources. Founded in 2017 by a group of battery engineers, including former DJI engineer Lei Wang, EcoFlow has emerged as a leader in the global transition towards renewable energy. Renowned for its cutting-edge portable power products, solar technology, and smart home energy solutions, the company has garnered widespread acclaim. With a commitment to sustainable energy solutions, EcoFlow currently serves an extensive user base exceeding 2.5 million globally. The company's products have made a significant impact, reaching markets in over 100 countries and regions worldwide.

Oct 27/ Friday

Oct 20/ Friday

06:03 PM
Technology
China’s OpenAI Challenger Zhipu AI Secures Over CNY 2.5 Billion to Step Further on Large-Scale Model

Beijing Knowledge Atlas Technology Co., Ltd. (Chinese: 北京智谱华章科技有限公司), or Zhipu AI, has attained more than CNY 2.5 billion in financing this year. The investors include Zhongguancun Independent Innovation Fund (Chinese: 社保基金中关村自主创新基金), Meituan, Ant Group, Alibaba, Tencent, Xiaomi, Kingsoft, Shunwei Capital, Boss Zhipin, TAL, Sequoia Capital, Hillhouse Capital and other big names, with follow-on investments from original shareholders such as Legend Capital. The proceedings will be used to support further research and development of the large-scale pre-trained language model, supporting industry ecology more effectively while achieving high-speed development with partners.

Technology

Oct 18/ Wednesday

Oct 8/ Sunday

Sept 26/ Tuesday

Sept 23/ Saturday

01:43 AM
Consumer Staples, Financials
China's Outbound Non-financial Direct Investment Increased 18.8% YoY

China's outbound investment saw steady growth from January to August 2023, the Ministry of Commerce announced on September 21. Non-financial direct investment totaled CNY 585.61 billion, reflecting a 18.8% YoY increase. Among them, Chinese companies invested CNY 140.37 billion in non-financial direct investment in countries participating in the Belt and Road initiative, marking a YoY increase of 22.5%. The turnover of outbound contracted projects reached CNY 648.62 billion, up 6.1% YoY, and the value of newly signed contracts amounted to CNY 863.34 billion, showing a 2% YoY increase. Chinese enterprises completed contracted projects worth CNY 529.52 billion in countries that participated in the Belt and Road initiative, recording an increase of 4.8% YoY.

Consumer Staples, Financials

Sept 20/ Wednesday

12:51 PM

Chinese Insurtech QingSong Health Marks 9th Anniversary with Bold Steps Towards a Healthier China

On September 19, QingSong Health celebrated its 9th anniversary with a strategic conference centered around the theme "Keeping Warm and Staying Healthy for Long." During the conference, QingSong Health introduced multiple initiatives aimed at promoting the "Healthy China" campaign. The company forged partnerships with key collaborators, including the China Silver Industry Association, JD Health, Airdoc Technology (2251:HK), Zhonghui Public Mutual, BOE Health IoT Hospital, and Realbio Technology, to unveil nine significant strategic cooperation projects. Guided by the principle of putting users first, QingSong Health remains unwavering in its mission to empower every household as well as pioneering and innovating within the expansive field of the health industry's development.

Sept 18/ Monday

Sept 14/ Thursday

06:54 PM
Consumer Staples, Communication, Consumer Discretionary
DHGate Launches DHmogo, a New Cross-border E-commerce Platform for Pan-household

DHGate, a B2B cross-border e-commerce trading platform, will launch a new pan-household e-commerce platform DHmogo. The first merchant recruitment meetings will be held in Shenzhen on September 20. With no entry fees and billions of exclusive traffic resources and official logistics support, the freshnew platform is designed to benefit all the initial settlers. In the future, DHmogo will collaborate with high-quality merchants to tap into the trillion-dollar European and American household markets and bring more Chinese brands to the world.

Consumer Staples, Communication, Consumer Discretionary

Sept 13/ Wednesday

06:18 PM
Consumer Staples, Communication
TikTok Officially Launches E-commerce Marketplace Service in the US

TikTok announced on September 12, EST that it had officially launched its e-commerce service TikTok Shop in the United States. Previously, TikTok Shop had conducted several months of testing among its American user base . This new service, in addition to offering short videos and live shopping, introduces a range of services for merchants and creators, including product showcase pages, storefronts, and the "Alliance Program" connecting businesses with creators. At the same time, TikTok Shop has also launched the "Fulfilled by TikTok" program, which helps merchants in storing, selecting, packaging, and delivering products, as well as a secure payment system developed in collaboration with third parties.

Consumer Staples, Communication

ByteDance

Sept 12/ Tuesday

04:28 PM
Industrials, Automotive
New Energy Vehicle Sales Up 27% in August 2023

Data from China Association of Automobile Manufacturers (CAAM)" official account shows that in August 2023, driven by national consumption promotion policies and preferential promotions by automobile enterprises, the demand for car purchases kept increasing, and the overall production and sales of the automobile market recovered. Automobile production and sales marketing in August amounted to 2.575 million units and 2.582 million units respectively, up 7.2% and 8.2% sequentially and 7.5% and 8.4% year-on-year respectively. Meanwhile, new energy vehicles (NEVs) production and sales amounted to 843,000 units and 846,000 units respectively, up 4.7% and 8.5% sequentially and 22% and 27% year-on-year, with a market share of 32.8%.

Industrials, Automotive

Sept 11/ Monday

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