Jinhua Under Sanction
The US government has banned American companies from exporting technology to Chinese DRAM maker Fujian Jinhua Integrated Circuit Company. The Department of Commerce said that the dynamic random access memory supplier Jinhua “poses a significant risk of becoming involved in activities that are contrary to the national security interests of the United States.”
Baidu Q3 Results
Oct 31st, Baidu released unaudited Q3 report, according to which the Company received a revenue of USD4.11 billion, up by 27%, net profit was USD1.8 billion, up by 56%. Baidu’s share price down by 0.20% after the release.
ZTE Q3 Results
Oct 25th, ZTE released Q3 results, according to which the Company received a net profit of RMB564.5 million, down by 65%. In the first 3 quarters, the Company suffered a loss of RMB7,260 million.
Mafengwo.cn Fake Data Exposed
A whistleblower exposed that travel review site Mafengwo.cn has copied over 180 million comments from competitors to beef up its website. Mafengwo.cn has been seeking a USD300 million investment since August and is expecting a market value of USD2-2.5 billion.
NIU’s First Day at NASDAQ
Oct 20th, electric scooter maker NIU (Nasdaq:NIU) down by 3.89% and closed at USD8.65 on its first day of trading. Based on the price, NIU’s market price is USD650 million.
Xiaomi 100 Days After IPO
100 days after IPO, Xiaomi lost HKD230 billion market value while its founder received an incentive of RMB9.83 billion in the form of share. Early institutional investors and core members of the Management successfully cashed out over 10 billion RMB.
Nio Keeping up with its Targets
As of September 30th, Nio has delivered 3,368 ES8 electric cars, of which 3,268 was delivered in Q3. The Company’s goal of delivering 10,000 in the second half of the year remain unchanged.
Computer Sales Data Q3 2018
In Q3, there are 16.15 million personal computers shipped by Lenovo, taking up 24% of the market, followed by HP (22.8%), Dell (17%), Acer (7.2%) and Apple (7.1%).
Baillie Gifford Invest in Nio
Oct 10th, British institutional investor Baillie Gifford acquired 11.4% shares of Nio, a Chinese auto maker, and lead to a 22% hike of its share price.
Didi New Security Measures
According to China’s taxi platform Didi, during Sept 30th to Oct 7th, 4.05 million users added emergency contact and 6.06 million users used path sharing function. Moreover, real time audio recording now covers over 90% of the rides. Such security measures were taken after a series of criminal cases happened during Didi taxi ride.