SMIC officially released its 2020 financial report, indicating that as of December 31, 2020, the company’s annual revenue was US$3.907 billion, an increase of 25.4%. Its gross profit was US$921 million, an increase of 43.3%, while attributable profit attributable to the company was US$716 million, an increase of 204.9%. In 2019, under the uncertainties of… Continue reading SMIC Profit Up 43.3% In 2020 But Growth Uncertainty Lingers
Author: China Money Network Online News
China Tech Digest: Didi Chuxing Seeking Financing For Its Self-Driving Business; Cainiao Partners With Hong Kong Air Cargo Carrier
Didi Chuxing is seeking financing for its self-driving unit, which is valued at approximately US$6 billion Didi Chuxing is raising new funds for its self-driving unit. According to insider, Didi’s self-driving project raises up to $US500 million, while the company’s valuation is about US$6 billion. The new funds raised will help Didi accelerate the mass… Continue reading China Tech Digest: Didi Chuxing Seeking Financing For Its Self-Driving Business; Cainiao Partners With Hong Kong Air Cargo Carrier
China Tech Digest: Zhihu Listed On New York Exchange; Xiaomi Denies Making Cars
Priced at US$9.5, Zhihu will be listed on the New York Stock Exchange Zhihu will be listed on the New York Stock Exchange on March 26th, U.S. time. The stock code is “ZH”. The IPO price is set at US$9.5 per ADS. Zhihu is seeking to raise a total of US$850 million through the IPO… Continue reading China Tech Digest: Zhihu Listed On New York Exchange; Xiaomi Denies Making Cars
TCL Set Up Chips Unit To Invest In ICs; China National Semiconductor Fund Starts Deploying RMB200 Billion
TCL Technology (000100.SZ) has established a semiconductor business department to look for investment opportunities in the integrated circuit industry, said Li Dongsheng, the founder of TCL. Li Dongsheng said that TCL Technology is ready to look for opportunities in three areas in the semiconductor field. The first is semiconductor power devices. Most of the manufacturing… Continue reading TCL Set Up Chips Unit To Invest In ICs; China National Semiconductor Fund Starts Deploying RMB200 Billion
China Tech Digest: SMIC Says Permit Will Ensure Production Expansion, TSMC To Begin Mass Production Of 3nm Chips In 2022
SMIC responds to the US supply permit: will do its best to ensure that production expansion is not affected In response to media reports that SMIC’s mature technology has obtained supply licenses from some American equipment manufacturers, SMIC replied on SSE e-interaction that the company will do its best to continue to work with partners… Continue reading China Tech Digest: SMIC Says Permit Will Ensure Production Expansion, TSMC To Begin Mass Production Of 3nm Chips In 2022
China Tech Digest: Huawei Says It Won’t Make EVs, SenseTime Rumored To Seek A+H Listings
Huawei says it will not to build cars but will help car companies build better cars Reuters reported that Huawei plans to make EV under its own brand and could launch some models this year, citing four insiders who know the matter directly. It says that Huawei is in talks with Changan Automobile and other… Continue reading China Tech Digest: Huawei Says It Won’t Make EVs, SenseTime Rumored To Seek A+H Listings
Chinese Self-Driving Truck Firm Inceptio Tech Raises $120M Round
Inceptio Technology, a Chinese autonomous truck technology and operation company, hascompleted a new round of US$120 million in equity financing. This round of financing was led by Contemporary Amperex Technology, a lithium-ion battery R&D and manufacturing company, and all existing shareholders including GLP, G7, and NIO Capital participated in the investment as well. UNLOCK DATASubscribe… Continue reading Chinese Self-Driving Truck Firm Inceptio Tech Raises $120M Round
China Tech Digest: NIO’s Marcap Bigger Than Baidu’s; Li Auto Issues Recalls
NIO becomes becomes one of world’s top 10 car makers by marcap China’s new energy vehicle sector saw their US listed shares rose collectively. Among them, NIO closed at US$42.35, up 12.30%, and its market value reached US$57.688 billion, a record high. This market value also exceeds that of traditional car giants such as BMW,… Continue reading China Tech Digest: NIO’s Marcap Bigger Than Baidu’s; Li Auto Issues Recalls
China Tech Digest: NIO Plans Overseas Push, Chinese Data Center Firm Re-Lists In Hong Kong
NIO plans overseas push Chinese EV maker NIO is preparing to build an overseas business unit, and plans to sell its models in Europe. According to informed sources, the first overseas NIO House, its exhibition store, may be opened in Copenhagen, Denmark. Another person familiar with the matter said that NIO currently has a team… Continue reading China Tech Digest: NIO Plans Overseas Push, Chinese Data Center Firm Re-Lists In Hong Kong
Chinese Car Pool And Taxi Booking App Dida Chuxing Aims Hong Kong IPO
On the evening of October 8th, Dida Chuxing formally submitted a prospectus to the Hong Kong Stock Exchange, intending to be listed on the Hong Kong Stock Exchange. If completed, it would be the first Chinese car hailing company to list publicly. As an online car-hailing platform with taxis and ride-hailing as its core business,… Continue reading Chinese Car Pool And Taxi Booking App Dida Chuxing Aims Hong Kong IPO