TikTok parent ByteDance has turned up the heat in the Chinese generative artificial intelligence (GenAI) market by slashing the price of a new AI model with “visual understanding” capabilities and launching a slew of product updates. The new model, part of the company’s popular Doubao family, was introduced at 0.003 yuan (US$0.00041) per thousand token … Read more
PDD Holdings shares plunged by more than 10 per cent in pre-market trading, despite a 44 per cent rise in third-quarter revenue, as concerns around China’s economic slowdown and fierce e-commerce competition weigh on investor sentiment. The owner of the budget-focused shopping app Pinduoduo and its overseas sibling Temu on Thursday reported 99.35 billion yuan … Read more
Chinese online shopping giant JD.com reported a 92 per cent year-on-year jump in quarterly net income to 12.6 billion yuan (US$1.7 billion), despite a flattish revenue, as better operational efficiencies helped the company navigate intensifying competition in the domestic e-commerce industry. During the quarter ended June 30, the company achieved “growing economies of scale and … Read more
Tencent Holdings has upgraded its high-performance computing (HPC) network, with an improvement to its artificial intelligence (AI) capabilities, as Chinese tech giants seek ways to boost large language model (LLM) training with existing systems and equipment amid a domestic push for technological self-reliance. The 2.0 version of Tencent’s Intelligent High-Performance Network, known as Xingmai in … Read more
Chinese tech shares have raced ahead of earnings, and investors expect companies to deliver in an improving economy before buying more stock, according to an analyst who once questioned the sector’s investibility. “We are still looking at roughly 20 per cent to 25 per cent of share price upside,” given improving cost structure and less … Read more
Autonomous driving is currently not a priority for Chinese EV buyers, so Tesla’s FSD is unlikely to shake up the industry because local rivals have started to offer similar technologies, according to Ming Lee, head of Greater China Autos Research at BofA Global Research, on the sidelines of the Innovative China Conference in Shenzhen on … Read more
Senior executives of the Shenzhen-based technology behemoth on Wednesday took the wraps off this initiative at an event in Beijing, where they touted the advantages of having its mobility solution backed by the firm’s own large language model (LLM) – the technology used to train generative AI services like ChatGPT – to not only enhance … Read more
Goldman Sachs said in a research note on April 1 that it believed the fully electric sedan “is highly competitive and demonstrates Xiaomi’s capabilities of becoming a potential price leader in the market rather than a price follower.” The SU7, fitted with intelligent features such as an autonomous driving system and digital cockpit, hit the … Read more
Chinese smartphone maker Xiaomi will start deliveries of its maiden electric vehicle (EV) on March 28 as it joins the fray against established players like BYD and Tesla amid an ongoing discount war in the highly competitive domestic market. The Beijing-based company said on Tuesday orders could be placed immediately, but it did not unveil … Read more
