Here are the articles we found most interesting and relevant for our clients this past week.

1.Automotive platform Chehaoduo bags USD 200 million from SoftBank and Sequoia China

Chinese online car trading platform Chehaoduo announced Wednesday that it has raised USD 200 million in a follow-on round to its Series D from SoftBank and Sequoia China, totaling its Series D round to more than 1.7 billion dollars with 1.5 billion coming from SoftBank’s Vision Fund in early 2019.

2.Tesla secures USD 565 million loan from Chinese bank for Shanghai plant

Tesla has entered into an agreement with a Chinese bank for an unsecured revolving-loan facility of up to RMB 4 billion (USD 565 million).US electric-car maker still not cleared to reopen California factory.

3.JD.com teases work collaboration market as it unveils video conferencing app JoyMeeting

Chinese e-commerce giant JD.com (NMS: JD) has unveiled a video conferencing app, JoyMeeting, for iOS, which is still not available to the public, but might be at the end of May.

4.China’s “aircon queen” sells USD 44 million worth of goods in one livestreaming session on Kuaishou

On the evening of this year’s Mother’s Day, Dong Mingzhu, the chairwoman of Chinese home appliance manufacturer Gree Electric (SHE: 000651) kicked off her second livestream on popular short-video app Kuaishou.

5.China’s largest private courier SF Holdings enters food delivery sector, challenging Meituan and Ele.me

Shenzhen-based courier SF Holdings (SHZ: 002352) has launched food delivery services in China, making a foray into a market currently dominated by Meituan Dianping (HKG: 3690) and Alibaba’s Ele.me.

6.China Mobile Launches 5G Messaging App

On April 8, China Unicom, China Telecom and China Mobile jointly held an online press conference to jointly release their “5G Messaging White Paper” and a new app “5G Messages.”

7.Tencent to aid Tim Hortons’ expansion in China

Canadian cafe chain Tim Hortons announced Tuesday in China that it has received an investment from Chinese internet giant Tencent (HKG: 0700) as the company is looking to expand its presence in the country. The Canadian cafe chain aims to tap on China’s online coffee market, following the rise of several coffee brands in recent years.

8.AI startup Data Grand closes USD 38 million Series B+ round

Shanghai-based artificial intelligence startup Data Grand has closed its RMB 270 (USD 38 million) Series B+ round, led by Shenzhen Capital Group Co. Ltd. Data Grand develops tech that can partially replace humans in a variety of tasks including data comparison and analysis and document reading.

9.Chinese internet giant Baidu invests USD 70.5 million in livestreaming amid coronavirus-led boom

Baidu, China’s biggest internet search company and artificial intelligence champion, said it is investing a further 500 million yuan (USD 70.5 million) to boost its livestreaming services, aiming to cultivate 1,000 star content creators amid a surge in online users during the coronavirus pandemic.

10.WeWork bullish on prospects of Chinese co-working sector

The demand for co-working spaces will likely rise in the aftermath of the novel coronavirus outbreak as an innovative, efficient and flexible way of working and the abundant community resources have drawn the attention of Chinese enterprises.

11.Chinese AI unicorn CloudWalk taps govt-linked investors for $254m round

Chinese state-backed facial recognition major CloudWalk Technology has collected 1.8 billion yuan ($254 million) in a new funding round from domestic investors with close ties to the government.

12.Chinese online grocer JD Daojia files for US IPO

Dada Nexus, the company behind on-demand grocery delivery platform JD Daojia and delivery platform Dada Now, filed its application on Tuesday with the US securities regulator to offer shares on the Nasdaq stock exchange.

 

 

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