Shanghai Beat

Updates from September, 2019 Toggle Comment Threads | Keyboard Shortcuts

• 

  Eudora Wang 3:24 pm on September 12, 2019 Permalink  

  Chinese Bitcoin Tycoon-Backed GXChain Halted Amidst Police Crackdown 

  

  The Chinese authority has clamped down another domestic cryptocurrency project, shutting down the office of the popular and once well-funded "GXChain," which counts Chinese bitcoin tycoon Li Xiaolai and early-stage investment firm ZhenFund among its shareholders. Hangzhou Cunxin Data Technology, the parent company of GXChain, had its office in eastern China’s Hangzhou city sealed by […]

  Chinese Bitcoin Tycoon-Backed GXChain Halted Amidst Police Crackdown comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Eudora Wang 5:09 pm on September 11, 2019 Permalink  

  Sequoia-Backed P2P Lender Huobank Collapses As Beijing Mops Up Online Finance Risks 

  

  Houbank, a Chinese online peer-to-peer (P2P) lending platform that counts Sequoia Capital China as a major shareholder, has been put on file for investigation and prosecution of alleged "illegal absorbing public deposits," the municipal public security bureau in Shanghai said in a statement on late Tuesday. The authority placed a case against Huobank on August […]

  Sequoia-Backed P2P Lender Huobank Collapses As Beijing Mops Up Online Finance Risks comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Eudora Wang 3:29 pm on September 3, 2019 Permalink  

  CDIB Capital Hires Rivendell Partners Founder Alex Ying To Head Buyout Team 

  

  CDIB Capital, a private equity company primarily investing in cross-market businesses in the Asia Pacific, has hired Alex Ying, former managing director at The Carlyle Group and founder of China-focused Rivendell Partners, as the head of the company’s newly-created buyout group. The appointment "dovetails with CDIB Capital’s increasing strategic emphasis on mid-market buyout opportunities in […]

  CDIB Capital Hires Rivendell Partners Founder Alex Ying To Head Buyout Team comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Eudora Wang 11:07 am on August 26, 2019 Permalink  

  Alibaba-Backed Chinese AI Unicorn Megvii Eyes Hong Kong IPO 

  

  Chinese artificial intelligence (AI) unicorn Megvii, the developer of facial recognition software Face++ used widely across China, is filing documents for an initial public offering (IPO) in Hong Kong. The company could raise as much as US$1 billion, said people familiar with the matter cited by Bloomberg. Megvii did not immediately respond to China Money […]

  Alibaba-Backed Chinese AI Unicorn Megvii Eyes Hong Kong IPO comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Sophy Yang 12:04 pm on August 23, 2019 Permalink  

  Chinese EV Maker NIO Begins New Round of Layoffs Amid Struggling Sales 

  

  Chinese electric vehicle start-up NIO is starting another round of layoff as its car sales have plummeted. Due to challenges of car quality, recalls, and dwindling sales, NIO will lay off 1,200 staff by the end of September. After that, its total number of employees will be around 7,500, Li Bin, founder, chairman and CEO […]

  Chinese EV Maker NIO Begins New Round of Layoffs Amid Struggling Sales comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Sophy Yang 10:25 am on August 21, 2019 Permalink  

  Lenovo Group Founder Liu Chuanzhi Says US Is Forcing China To Decouple From World 

  

  Liu Chuanzhi, the founder of Chinese tech company Lenova Group, said in a recent speech that the U.S. is forcing China to decouple from the world. He called on Chinese entrepreneurs to fight against such effort, and continue to open up, integrate with the global economy, and support reform efforts. Below is an edited version […]

  Lenovo Group Founder Liu Chuanzhi Says US Is Forcing China To Decouple From World comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Katherine Guo 5:42 pm on August 20, 2019 Permalink  

  DealShot: Chinese Shopping Guide Platform Peanut Diary Raises $42 Million In Series A+ Round 

  

  China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money each workday.

  DealShot: Chinese Shopping Guide Platform Peanut Diary Raises $42 Million In Series A+ Round comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Technode 10:05 pm on August 9, 2019 Permalink  

  Huawei’s Hongmeng May Not Replace Android On Smartphones After All 

  

  This article by WEI SHENG originally appeared on TechNode, the leading English authority on technology in China. Huawei on Friday unveiled its long-awaited self-developed operating system HarmonyOS on its smart television product, but it may not be an Android alternative as previously rumored. Why it matters: HarmonyOS, also known as Hongmeng OS, was deemed to be […]

  Huawei’s Hongmeng May Not Replace Android On Smartphones After All comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Eudora Wang 10:49 am on July 30, 2019 Permalink  

  Chinese Novel Drug Developer Hinova Pharma Nets $40M In Series B Round 

  

  Hinova Pharma, a novel drug developer based in southwestern China’s Chengdu city, announced on Monday the completion of a US$40 million series B round of financing led by healthcare-focused private equity fund Hermed Capital and Chinese listed pharmaceutical firm Fosun Pharma. Shanghai-based venture capital firm Lang Sheng Investment, Chinese asset management company Prosper Capital, Silicon […]

  Chinese Novel Drug Developer Hinova Pharma Nets $40M In Series B Round comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network

   
• 

  Eudora Wang 11:20 am on July 17, 2019 Permalink  

  Gobi Partners Leads $10.6M New Round Of Malaysian E-Commerce and Logistics Start-Up 

  

  Gobi Partners, a Chinese venture capital firm with over US$1.1 billion in assets under management (AUM), announced on Tuesday that it has led a US$10.6 million series B funding round of Malaysian e-commerce and parcel delivery start-up EasyParcel. Gobi Partners injected capital into EasyParcel through Meranti ASEAN Growth Fund, the fourth investment vehicle launched by […]

  Gobi Partners Leads $10.6M New Round Of Malaysian E-Commerce and Logistics Start-Up comes originally from China Money Network. All Rights Reserved.

  Read the original article: China Money Network