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Meituan

ByteDance profit jumps 60% to US$40 billion, taking TikTok’s owner past arch-rival Tencent

by Anas Siddiqui
ByteDance profit jumps 60% to US billion, taking TikTok’s owner past arch-rival Tencent

ByteDance’s profit surged roughly 60 per cent in 2023, outpacing the growth of online peers Tencent Holdings and Alibaba Group Holding, in a sign of the TikTok owner’s resilience in …

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These outperforming stocks could soar further, analysts say

by Walter Watson
These outperforming stocks could soar further, analysts say

Markets are still red-hot even after a very good 2023, when the S & P 500 soared around 24%. The S & P 500 is up around 10% year-to-date, and …

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Alibaba adds 11 apps to Huawei’s HarmonyOS, bringing Xianyu, Fliggy and more to China’s Android rival

by Anas Siddiqui
Alibaba adds 11 apps to Huawei’s HarmonyOS, bringing Xianyu, Fliggy and more to China’s Android rival

Alibaba Group Holding is partnering with US-sanctioned Huawei Technologies to develop native versions of the e-commerce giant’s apps for the smartphone maker’s operating system HarmonyOS, which is meant to take …

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China said to fall short of matching US advances in AI owing to ‘many challenges in theory and technologies’

by Anas Siddiqui
China said to fall short of matching US advances in AI owing to ‘many challenges in theory and technologies’

China is falling short of matching the United States in artificial intelligence (AI) advances because the nation’s efforts are “littered with many essential challenges in theory and technologies”, according to …

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Meituan, Didi Chuxing in the spotlight as China stresses rights of delivery, ride-hailing gig workers

by Anas Siddiqui
Meituan, Didi Chuxing in the spotlight as China stresses rights of delivery, ride-hailing gig workers

The Chinese government is ordering online platforms to better protect the rights of the country’s 200 million gig workers, including ride-hailing and food delivery drivers employed by the likes of …

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Tencent chairman Pony Ma sets confident tone for internet giant in 2024 amid WeChat’s improved business prospects, sources say

by Anas Siddiqui
Tencent chairman Pony Ma sets confident tone for internet giant in 2024 amid WeChat’s improved business prospects, sources say

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 …

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Why a Chinese court’s landmark decision recognising the copyright for an AI-generated image benefits creators in this nascent field

by Anas Siddiqui
Why a Chinese court’s landmark decision recognising the copyright for an AI-generated image benefits creators in this nascent field

A Chinese court’s decision recognising the copyright of an image generated via artificial intelligence (AI) aims to encourage such creations and provide a boost to this nascent industry, according to …

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Meituan lost $82 billion in market cap on slowdown fears, more competition

by Edgar Davis
Meituan lost  billion in market cap on slowdown fears, more competition

A food delivery courier for Meituan in Beijing, China, on Tuesday, Aug. 22, 2023. A surge in sales expected for Meituan may be a catalyst to its shares, which have …

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Is China’s consumption story over? Here’s what experts are saying

by Walter Watson
Is China’s consumption story over? Here’s what experts are saying

A woman waits on her bicycle to cross an intersection outside a new shopping mall in Beijing, China, on Sept. 13, 2023. Kevin Frayer | Getty Images News | Getty …

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JD.com’s on-demand delivery unit, Dada Nexus, loses 46 per cent of US stock value overnight amid internal inquiry into potential fraud

by Anas Siddiqui
JD.com’s on-demand delivery unit, Dada Nexus, loses 46 per cent of US stock value overnight amid internal inquiry into potential fraud

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 …

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