BEIJING/HONG KONG China's ByteDance, owner of video-sharing app TikTok and one of the world's most valuable unicorns, booked revenue of 50-60 billion yuan ($7 billion to $8.4 billion) in a better-than-expected result for the first half, people familiar with the matter told Reuters.
HONG KONG/BEIJING China's second-largest e-commerce firm JD.com Inc has appointed Jason Hu, a former managing director at Chinese private equity firm CDH Investments, as head of strategic investment to oversee deals both at home and overseas.
HONG KONG/BEIJING, Sept 11 China's
second-largest e-commerce firm JD.com Inc has hired Jason
Hu, a former managing director at Chinese private equity firm
CDH Investments, as head of strategic investment to oversee
deals both at home and overseas, three sources said.
HONG KONG/BEIJING Tencent has shelved plans to invest about $150 million to lead a fresh fundraising round for Chinese education firm VIPKid, two people with knowledge of the matter said, as Beijing tightens oversight of online education platforms.
* Tencent's decision sparked by Beijing's new regulations
BEIJING/SHANGHAI China's Meituan Dianping , an online food delivery-to-ticketing company, posted its first quarterly profit as a listed firm as a surge in summer food delivery orders helped it beat competition from rivals including Alibaba-backed Ele.me.
Chinese internet search giant Baidu Inc beat quarterly earnings estimates on Monday after signing more people up to its video streaming service, sending its shares higher in a relief rally.
BEIJING/HONG KONG Segway-Ninebot Group, a Beijing-based electric scooter maker, on Friday unveiled a scooter that can return itself to charging stations without a driver, a potential boon for the burgeoning scooter-sharing industry.