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36Kr (EN)

Baidu

Bringing together the latest business insights and trends of China's tech ecosystem.

China Tech

In computer science, artificial intelligence (AI), sometimes called machine intelligence, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and animals.

Deep Tech

Kunlun, the AI chip unit of internet giant Baidu (NASDAQ: BIDU), has reportedly reached a valuation of USD 2 billion after a new round of funding. CITIC Private Equity Funds Management was leading the fundraising that was joined by a group of investors including IDG Capital and Legend Capital, an unidentified source told Reuters.

KEY STAT | Baidu closes funding round for AI chip segment | KrASIA

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KEY STAT | Baidu closes funding round for AI chip segment

Spotlighting Asia&#039;s next wave of innovations.

KrASIA

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Julianna Wu

80% of JD.com's user increase comes from lower-tier cities

Alibaba Group Holding Limited is a Chinese multinational conglomerate specializing in e-commerce, retail, Internet and technology. 

Alibaba

JD.com, Inc., also known as Jingdong and formerly called 360buy, is a Chinese e-commerce company headquartered in Beijing.

Pinduoduo is an e-commerce platform allowing users to participate in group buying deals. It was founded by Colin Huang as Shanghai Dream Information Technology Co., Ltd. in September 2015.

Pinduoduo

E-commerce is the activity of buying or selling of products on online services or over the Internet. 

E-Commerce

E-commerce giant JD.com (NASDAQ: JD, HKEX: 9618) said in its Q4 report on Thursday that it reached 472 million active buying users in 2020, 30% or 110 million more than in the previous year. More than 80% of the new customers came from China's numerous lower-tier cities.

KEY STAT | JD.com boosts users in China's smaller cities | KrASIA

KEY STAT | JD.com boosts users in China&#8217;s smaller cities

Tencent's gains from investments in 2020: USD 120b

Tencent Holdings Limited is a Chinese multinational investment holding conglomerate whose subsidiaries specialize in various Internet-related services and products, entertainment, artificial intelligence and technology both in China and globally.

Tencent

Venture capital is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth.

Venture Capital

In 2020, Chinese internet titan Tencent gained some USD 120 billion through its shareholdings in companies it invested in, said a report by The Information on Tuesday. That's six times more than the firm's own expected net income for the year.

KEY STAT | Tencent makes USD 120 billion from investments in stock rally | KrASIA

KEY STAT | Tencent makes USD 120 billion from investments in stock rally

E-scooter maker Niu's overseas sales increase, Q4: 197%

Mobility

Chinese smart electric scooter manufacturer Niu Technologies (NASDAQ: NIU) sold 12,879 units in the fourth quarter of 2020 internationally, almost tripling its volume from a year earlier, while the domestic market also recorded a 35% year-on-year increase, the company said in its earnings report on Monday.

KEY STAT | E-scooter manufacturer Niu triples overseas sales in Q4 | KrASIA

KEY STAT | E-scooter manufacturer Niu triples overseas sales in Q4

BeautyCam owner Meitu's investment in crypto: USD 40m

A blockchain, originally block chain, is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

Blockchain

Creative

Fintech is the new applications, processes, products, or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the internet.

Fintech

Meitu (HKEX: 1357), the company behind selfie app BeautyCam, said on Sunday that it purchased ether and bitcoin worth USD 22.1 million and USD 17.9 million, respectively, in the open market last week, making it the first major Chinese tech company to invest in cryptocurrencies.

KEY STAT | Beauty app Meitu becomes first Chinese tech firm to invest in crypto | KrASIA

KEY STAT | Beauty app Meitu becomes first Chinese tech firm to invest in crypto

GSX Techedu's revenue increase in 2020: 237%

Edtech

Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits. The education industry is fast-reforming nowadays. 

Education

GSX Techedu (NYSE: GSX), an online tutoring platform, reported a 236.9% year-on-year increase in its 2020 revenues that hit USD 1.1 billion, the Beijing-based company announced on Friday.

KEY STAT | Edtech firm GSX reports revenue increase as expenses widen | KrASIA

KEY STAT | Edtech firm GSX reports revenue increase as expenses widen

13,000 new hires for ByteDance's education unit

ByteDance or Beijing ByteDance Technology Co Ltd. is a Chinese Internet technology company operating several machine learning-enabled content platforms, headquartered in Beijing. It was founded by Zhang Yiming in 2012. ByteDance's core product, Toutiao, is a popular content platform in China.

Bytedance

Douyin

Tiktok

ByteDance, the owner of TikTok and Douyin, is hiring thousands of new talents for its education product Dali over the next four months, the company said in one of its WeChat accounts last Friday. The new positions cover teaching, product design, visual design, and community management, among others.

KEY STAT | ByteDance to boost education business with 13,000 new hires | KrASIA

KEY STAT | ByteDance to boost education business with 13,000 new hires

Net profit growth of Star Market-listed companies

Biotech

Health Tech

Medical technology, or "medtech", encompasses a wide range of healthcare products and is used to treat diseases and medical conditions affecting humans. 

MedTech

Net profits in the biotech and medtech sector increased almost fivefold from the year before. Total revenue of companies listed on the Shanghai Science and Technology Innovation Board (Star Market) amounted to USD 51.35 billion in 2020, up 15.6% year-on-year, while the net profit of the 232 enterprises reached USD 7.15 billion, almost 60% higher than the year before, according to 36Kr.

KEY STAT | Star Market-listed companies show robust growth in 2020 | KrASIA

KEY STAT | Star Market-listed companies show robust growth in 2020

Meituan-Dianping is a Chinese group buying website for locally found food delivery services, consumer products and retail services. The company is headquartered in Beijing and was founded in 2010 by Wang Xing. The Meituan.com site offers deals of the day by selling vouchers on local services and entertainment.

Meituan

Grocery Delivery

An on-demand service platform connects waiting-time-sensitive customers with independent service providers.

On-Demand Services

Retail

Visual Stories

Here's a comprehensive walkthrough of China's e-grocery business operations. The nature of grocery e-commerce made it difficult to execute. Food storage and transportation has strict requirements, fresh produce carries slim profit margins, and low transaction volume per customer made it nearly impossible to pull off satisfactory unit economics. It wasn't clear how moving the process online—into apps or websites—would build a profitable process.