The 52-year-old Ma, who kept a low profile during China’s 32-month crackdown on Big Tech firms, delivered that positive message in a speech before Tencent’s annual staff meeting on Monday at a stadium in Shenzhen, the company’s home city in southern Guangdong province. Founded in November 1998, Tencent must find new lifelines in its video … Read more
An on-demand delivery firm affiliated with Chinese e-commerce giant JD.com lost 46 per cent of its stock value in New York on Monday, following an inquiry into “suspicious” data during an internal audit, dealing a fresh blow to confidence in China’s tech stocks. Dada Nexus, which operates JD Daojia and Dada Now, found 1 billion … Read more
ByteDance’s sales surged in 2023 to more than US$110 billion, according to people familiar with the matter, potentially overtaking arch-foe Tencent Holdings in a sign TikTok’s fledgling e-commerce business is driving growth at a time of economic malaise. The world’s most valuable start-up’s growth broadly matched the 30 per cent pace it managed in 2022, … Read more
China’s Big Tech landscape continues to undergo seismic shifts, with video gaming and news portal NetEase overtaking food delivery giant Meituan as the country’s fourth most valuable listed technology company, after Tencent Holdings, PDD Holdings and Alibaba Group Holding. NetEase’s market cap stood at HK$563.2 billion (US$72.1 billion) in Hong Kong on Thursday, compared with … Read more
The collaboration between Ant, the fintech affiliate of South China Morning Post owner Alibaba Group Holding, and Shenzhen-based Huawei is expected to benefit consumers who use Alipay and the Chinese tech firm’s devices across different scenarios, according to a statement by Ni Xingjun, president of Alipay China business group and chairman of Ant’s technology strategy … Read more
The Chinese arm of McDonald’s – with a network of more than 5,500 restaurants and over 200,000 employees serving more than 1 billion customers each year – is part of the first batch of multinational food companies on the mainland that have committed to develop native apps on HarmonyOS, according to a statement by the … Read more
