Song Jingli

“Ant’s valuation is sure to be affected greatly as the microloan business accounted for almost half of the company’s entire profits.”

In the USD 4.3 billion cloud infrastructure enterprise market in China, Baidu took an 8% share in the second quarter of this year, lagging far behind Alibaba at 40.1%.

While ByteDance’s health business is still at an early stage, Alibaba and JD.com have already secured a firmer foothold in the sector.

Yatsen has witnessed its sales increase 363.7% year-on-year or roughly 30 times the growth rate of the broader China beauty industry.

Tencent, which has backed Kuaishou since 2017, will be a cornerstone investor in the IPO.

The company wants to increase efficiency and cut costs for real estate brokers and homebuyers.

This isn’t the first time Miniso’s products were found to have harmful elements.

Dali Education is just the beginning of a long journey in the industry, ByteDance founder Zhang Yiming said.