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Why Did NIO, XPeng and Li Auto Together Lose Nearly $1.38B in H1? - Pandaily

Why Did NIO, XPeng and Li Auto Together Lose Nearly $1.38B in H1? - Pandaily

As of September 7, three leading Chinese new energy vehicle (NEV) enterprises, including , Motors and , had successively released their financial reports for the first half of 2022. During the period, , Motors saw a net loss of 4.402 billion yuan ($634.5 million), while recorded a net loss of 595 million yuan ($85.8 million). The combined losses of three firms amounted to nearly 9.6 billion yuan ($1.38 billion).Among them, Motors delivered a total of 68,900 vehicles in the first half of 2022, with a net loss of 4.402 billion yuan, which is equivalent to a loss of 63,900 yuan for new car...

Sep 9
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ASML Surpasses 1,500 Employees in China - Pandaily

ASML Surpasses 1,500 Employees in China - Pandaily

The Chinese division of ASML, a leading Dutch semiconductor equipment manufacturer, announced on September 2 that . The company also designated September 1 as its annual “ASML China Day,” upon which all domestic employees will enjoy an extra day off.ASML is one of the largest semiconductor equipment manufacturers in the world, providing comprehensive key equipment to complex integrated circuit manufacturers globally. In 1988, ASML delivered its first stepper to the Chinese market, and in 2000, ASML China was formally established. The company has now explored the Chinese market for more than...

Sep 13
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BYD's New Energy Storage System to Hit the Market Next Year - Pandaily

BYD's New Energy Storage System to Hit the Market Next Year - Pandaily

On September 8, at the 12th China International Energy Storage Conference held in Hangzhou, a BYD spokesperson said that will be listed separately at home and abroad next year.At present, this new energy storage system is being tested in China. Based on the excellent performance of blade batteries in new energy vehicles, the performance and safety of the new energy storage system will be greatly improved.At present, BYD’s ace product of energy storage is its grid-level Cube energy storage system released in 2020. In this system, BYD uses the CTP (cell-to-pack) design of power batteries...

Sep 9
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Blockchain Gaming Firm Animoca Brands Raises $110M in New Funding - Pandaily

Blockchain Gaming Firm Animoca Brands Raises $110M in New Funding - Pandaily

Animoca Brands, a leader in digital entertainment, blockchain, and gamification, announced on September 8 that from Temasek, Boyu Capital, and GGV Capital, as well as from existing investors Mirae Asset Management and True Global Ventures.The Hong Kong-based firm will use the fresh capital to continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users.Animoca Brands is a game software company and venture...

Sep 9
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Digital Medical Service Provider Dingdang Health Debuts in Hong Kong - Pandaily

Digital Medical Service Provider Dingdang Health Debuts in Hong Kong - Pandaily

, was officially listed on the main board of the Hong Kong Stock Exchange with “9886” as the ticker symbol on September 14. Its stock price closed at HK $12 per share today giving the company a market value of about HK $16.098 billion.Dingdang Health, established in 2014, promotes the transformation and upgrading of China’s medical industry by creating instant drug retail and medical consultation dominated by online-to-offline solutions. According to a Frost & Sullivan report, it is the largest product and service provider in China’s digital pharmacy industry and the third largest...

Sep 14
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Web3 Infrastructure Startup Mysten Labs Secures Financing From Top Crypto Names - Pandaily

Web3 Infrastructure Startup Mysten Labs Secures Financing From Top Crypto Names - Pandaily

, announced its completion of a $300 million Series B funding round on September 8. This fresh capital values the company at more than $2 billion.The round was led by FTX Ventures, the investment arm of crypto exchange FTX, and included participation from an array of big names in the crypto industry, including a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, and more.Launched in 2021 by former executives of Meta’s Novi Research and lead architects of the Diem blockchain and Move programming language, Mysten is building the foundations...

Sep 9
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XPeng's Flying Car to Undergo Compliance Verification Test Flights - Pandaily

XPeng's Flying Car to Undergo Compliance Verification Test Flights - Pandaily

Motors’ flying car division, Aeroht, said on September 9 that . The company will showcase the product at GITEX GLOBAL, the largest technology event in Dubai, to be held from October 10 to October 14.The X2 is the fifth generation of Aeroht’s two-person intelligent electric flying vehicles. The whole body adopts a carbon fiber structure, and the weight of the vehicle with the battery is 560 kg, with a maximum load of 200 kg. It has a maximum endurance of 35 minutes and a maximum altitude of 1,000 meters.‘s X2 was officially approved in November 2020 and successfully flew for the first time...

Sep 13
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Xiaomi Co-Founder Steps Down as Chairman of Financial Arm - Pandaily

Xiaomi Co-Founder Steps Down as Chairman of Financial Arm - Pandaily

recently announced in an internal email that it appointed Alain Lam, vice president and CFO of the group, to serve as the chairman of Airstar Digital Technology, the financial arm of the group, reporting to ‘s CEO Lei Jun, according to ‘s report on September 9.The chairman of Airstar Digital Technology had been Hong Feng, ‘s co-founder and senior vice president. The new personnel change means that Hong will no longer be in charge of ‘s finance business, which he founded.Before joining , Hong was a senior software engineer at Google and a senior product manager at Google China, where he was...

Sep 9
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Apple Supplier Luxshare Precision Discloses US Investigation Findings - Pandaily

Apple Supplier Luxshare Precision Discloses US Investigation Findings - Pandaily

Luxshare Precision, a consumer electronics manufacturer and Apple supplier, announced on September 13 that without any material impact on the company’s production and operations. Affected by this news, its stock price rose more than 5% today.According to the announcement, Amphenol Corporation, a leading supplier of advanced interconnected systems, sensors and antennas, filed an investigation application with the ITC on December 18, 2020 in accordance with Section 337 of the U.S. Tariff Act of 1930. The so-called “337 investigation” involves three US patents, which are related to conductive...

Sep 13
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Mi Camera Glasses Add Animal and Plant Recognition Function - Pandaily

Mi Camera Glasses Add Animal and Plant Recognition Function - Pandaily

Mi Camera Glasses, a product of ’s Mijia ecosystem, announced on September 10, providing support for new functions such as animal and plant identification.This function has been promoted by the firm as “a small encyclopedia in front of your eyes.” Meanwhile, a can intelligently estimate the value of an object, enhancing the interest of wearing the glasses. Besides, this OTA update also improves anti-shake effects, which can improve the stability of shots while walking.. The crowdfunding price of this device was 2,499 yuan ($361), and limited pairs of clip-ons worth 299 yuan were given away...

Sep 13
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