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The new vehicle targets Model 3. NIO held NIO Day 2021, its most important annual event, today in Shanghai's neighboring city of Suzhou to unveil the company's future plans and the highly anticipated new sedan, the ET5. The following is a live text update from CnEVPost based on content obtained at the event. William Li, founder, chairman and CEO of NIO, began...

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Affected heavily by recent technological advancements, the sector may soon attract Chinese regulators' attention. Background 2021 turned out to become a positive year for China's healthcare industry, where the gigantic demand stems from the aging population, growing individual wealth, and – more importantly – the COVID-19 crisis' aftermath. The market has grown...

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Affected heavily by recent technological advancements, the sector may soon attract Chinese regulators' attention. Background 2021 turned out to become a positive year for China's healthcare industry, where the gigantic demand stems from the aging population, growing individual wealth, and – more importantly – the COVID-19 crisis' aftermath. The market has grown...

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Some improvement in financials was accompanied by new product initiatives. Amid the recurrent waves of COVID-19 restrictions in China, on-demand retailing, which combines online experience and offline channels, is acting as a stabilizer in the consumer goods industry. Once tried, more people are choosing to stick to O2O-based consumption. According to an...

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Gong Yu, CEO of iQIYI, said, 'the focus now is to increase revenue and reduce expenditure, cut down inefficient businesses and projects, and increase and try new monetization opportunities.' On December 1, iQIYI carried out a round of large-scale layoffs. According to many laid-off employees, almost all employees in some departments have been laid off, and even...

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Looking ahead to the fourth quarter of 2021, Dada Group expects its total revenue, assuming Dada Express's Last-mile delivery services perform consistently, to grow from between 88% to 97% YoY. On October 12, JD.com's 'hourly purchase' business, jointly created by JD.com and Dada Group, was officially launched. The merchant resources of JD Daojia can be connected...

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Musk says Model S Plaid could come to China around March next year. Tesla's models have experienced several price hikes in China this year, and now the company has acted again. Information on Tesla's China website shows that the latest price for the entry-level China-made Model 3 - the rear-wheel-drive version - is CNY 255,652, up by CNY 4,752 from the previous...

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The sedan also debuted in other Central American countries. BYD announced today that it has launched its flagship sedan Han EV in Costa Rica, in partnership with local distributor Corimotors. "This cooperation will drive down carbon emissions to reach Costa Rica’s net-zero emissions goal by 2050," said Pedro Dobles, the General Manager of Corimotors. "As BYD's...

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As of Q3 2021, Xiaomi has invested in more than 360 companies, with a book value of CNY 59.1 billion. Xiaomi releases its Q3 earnings report for the period ended September 30, 2021, on November 23. - Internet service revenue was CNY 7.3 billion, a 27.1% year-on-year increase, with 73.6 gross margin - IoT and consumer products business revenue was CNY 20.9...

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The company will hold the third-quarter conference call on November 23. XPeng Motors will unveil the G9 SUV, the company's fourth model and the first after its brand refresh, on November 19 at 11:00 a.m. Beijing time. Photos of the model have already appeared in the XPeng app before the model was officially unveiled. As previously reported by yiche.com, the new...

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"As an innovation-driven content creator, we will continue to deliver thoughtful premium content and products to our users across each of our carefully cultivated disciplines," said the CEO and director of NetEase, William Ding. Third Quarter 2021 Financial Highlights - Net revenues were CNY 22.20 billion (USD 3.4 billion), an increase of 18.9% compared with...

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"Baidu Core delivered another solid quarter, powered by our AI cloud revenue growing 73% year over year," said Rong Luo, CFO of Baidu. "With a diversified AI portfolio, including cloud services, smart transportation, smart devices, self-driving, smart EV and robotaxi, we are well-positioned for long-term growth." Total revenues were CNY 31.9 billion,...

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Mr.Yu Gong, founder, director, and CEO of iQIYI, commented the Q3 performance was a 'softer than expected top-line performance'. According to iQIYI's financial announcement for the third quarter of 2021: - The total revenues achieved CNY 7.6 billion (USD 1.2 billion), showing a 6% increase from the same period last year. - The operating loss was CNY 1.4 billion...

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TAL Education will explore quality-oriented education from multiple aspects. On November 13, Zhang Bangxin, CEO of TAL (TAL:NYSE) issued an internal letter to all employees, indicating the new strategic direction for the future and the personnel adjustments made in accordance with the new direction. According to the announcement, TAL plans to cease offering...

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By October 2021, members of the China EV Charging Infrastructure Promotion Alliance have built 1.06 million public charging piles. Tesla landed its 1,000th charging station in China's mainland on November 1 in Shenzhen. In the meantime, NIO erected its 600th swap station. The two EV innovators have chosen different ways of providing charging services. Tesla...

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BYD is positioned well, too. The global automotive industry is facing a deepening supply chain crisis. For one, Toyota: it slashed 40% of its planned production in September. Another case is French carmaker Renault: it expects to cut production by 500,000 cars this year. Although many companies have been making decisive moves, they haven’t seen much relief so...

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The leading social media in China, Weibo (NASDAQ: WB), released its unaudited financial results for the third quarter of 2021. According to the Q3 performance report for 2021: - The revenue totaled USD 607 million (CNY 3,882 million), increasing 30% year-on-year. As of September 30, 2021, the total cash, cash equivalents and short-term investments amounted to...

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The drop was a result of regulatory crackdowns on media and restrictions on teenagers' gaming time. Despite enhancing its parental control policy and constrained gaming time for teenagers (from 6.4% in Q3 2020 to 0.7% in Q3 2021), Tencent saw its domestic gaming service revenue increase by 5% and 20% for the overseas markets. However, Tencent's top moneymaker –...