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NIO will begin selling the first model under a mass-market brand as early as September, and it would cost 10% less to make its new electric vehicle models than Teslas Model Y, founder and chief executive William Li told investors on Tuesday. This would give NIO better flexibility in pricing the first model under a project codenamed Alps, which will be battery-swappable, thanks to Chinas highly-developed EV supply chain and the companys research and development input over the past several years, Li said. Li implied that the luxury EV maker might take a more proactive pricing strategy to compete with rivals in the segment, as the new brand will target Chinese families and focus more on volume, while its NIO brand continues to be gross margin-oriented. The net loss of the Shanghai-headquartered company widened to RMB 20.7 billion ($2.9 billion) for the full year 2023 from RMB 14.4 billion a year ago, while the revenue growth was roughly 12.9%. NIOs stock rose 2.8% to end the day at $5.48. [TechNode reporting, NIO financial report]liverpool fc x arsenal fcimagem da ta莽a da copa

Researchers from Peking University have formed a small team that is aiming to reproduce OpenAIs text-to-video generator Sora, according to its project page on GitHub, after the original model took GenAI to the next level following its roll out in February. Collaborating with Shenzhen-based AI firm RabbitPre, Chinas top academic institution is seeking resources from the open-source community as they are unable to conduct full training due to a lack of video data. However, the team has developed a three-part framework 鈥 including a Video VQ-VAE, a Denoising Diffusion Transformer, and a Condition Encoder 鈥 and presented its initial progress on GitHub, with four reconstructed video demos offering different resolutions and aspect ratios, ranging from three to 24 seconds in length. [GitHub]Researchers from Peking University have formed a small team that is aiming to reproduce OpenAIs text-to-video generator Sora, according to its project page on GitHub, after the original model took GenAI to the next level following its roll out in February. Collaborating with Shenzhen-based AI firm RabbitPre, Chinas top academic institution is seeking resources from the open-source community as they are unable to conduct full training due to a lack of video data. However, the team has developed a three-part framework 鈥 including a Video VQ-VAE, a Denoising Diffusion Transformer, and a Condition Encoder 鈥 and presented its initial progress on GitHub, with four reconstructed video demos offering different resolutions and aspect ratios, ranging from three to 24 seconds in length. [GitHub]Li Auto shares plunged nearly 14% on Monday, partly influenced by analysts bleak forecasts for the order intake of the companys first battery electric vehicle model, the Mega. The vehicle was unveiled on March 1 with a higher-than-expected price tag of RMB 559,800 ($77,756). As of Monday, Li Auto received 8-9 non-refundable orders for the Mega per shop, according to Sun Shaojun, founder of consumer behavior research agency CarFans. He mentioned that rivals are experiencing a return of customers for similar offerings after the product launch. With a network of 467 retail locations as of December, Li Auto has accumulated a backlog of around 4,000 non-refundable orders over the weekend. In comparison, Aito, a premium EV brand launched by Huawei and its manufacturing partner Seres, reported over 20,000 pre-orders with non-refundable deposits for its RMB 469,800-priced, full-size M9 crossover two days after the launch on Dec. 28. Jefferies analysts, on Sunday, conservatively estimated monthly sales of the Mega to reach 3,000 units, significantly lower than the companys delivery outlook of 8,000 units. [Sun Shaojun post, in Chinese, TechNode reporting]Li Auto shares plunged nearly 14% on Monday, partly influenced by analysts bleak forecasts for the order intake of the companys first battery electric vehicle model, the Mega. The vehicle was unveiled on March 1 with a higher-than-expected price tag of RMB 559,800 ($77,756). As of Monday, Li Auto received 8-9 non-refundable orders for the Mega per shop, according to Sun Shaojun, founder of consumer behavior research agency CarFans. He mentioned that rivals are experiencing a return of customers for similar offerings after the product launch. With a network of 467 retail locations as of December, Li Auto has accumulated a backlog of around 4,000 non-refundable orders over the weekend. In comparison, Aito, a premium EV brand launched by Huawei and its manufacturing partner Seres, reported over 20,000 pre-orders with non-refundable deposits for its RMB 469,800-priced, full-size M9 crossover two days after the launch on Dec. 28. Jefferies analysts, on Sunday, conservatively estimated monthly sales of the Mega to reach 3,000 units, significantly lower than the companys delivery outlook of 8,000 units. [Sun Shaojun post, in Chinese, TechNode reporting]Tech giants Alibaba and Tencent appear to have further frosty relations as WeChat users are now allowed to join DingTalk meetings directly via the messaging app, DingTalk announced in a statement on Monday. This move breaks with the previous common practice of banning rivals from sharing links and services on their platforms. WeChat retains only core features, including mute & unmute options, camera control, friends invite, and view meeting members, in an attempt to create a light, fast, and easy online meeting experience. The latest development comes shortly after Alibaba-owned Taobao added WeChat Pay as a long-awaited option for shoppers placing orders. [DingTalk, in Chinese]

Stricter rules for China’s courier industry that stipulate that delivery workers are banned from putting parcels in end-of-service facilities without user consent have fueled riders anger as they claim the new measures will lengthen their work hours. Effective from March 1, the new rules will see violators face fines of up to RMB 30,000 ($4,167). While the new rules have been broadly welcomed by consumers, a number of couriers have complained about the increased costs of delivering every parcel to shoppers doors rather than placing them in locally-based storage facilities. According to local media outlets, major express delivery firms JD Express, Cainiao, and SF Express have all claimed that on-site delivery is one of their standard services in response to the new rules, while logistics companies with relatively slow timelines such as STO Express and ZTO Express noted they would strictly implement the relevant regulations. [NBD, in Chinese]On March 2, Fudan University’s Natural Language Processing Laboratory (FudanNLP) launched the AI-based app Hearing the World, which is designed for visually impaired individuals as an intelligent life assistant. Built upon the multi-modal model Fudan MouSi, the app merges a single camera with headphones to transform images into audio for various scenarios and alerts. The Hearing the World app offers three modes: Street Navigation, Free Inquiry (exploration of spaces such as museums, art galleries, and parks), and Object Finder. In March, the app will complete its first round of testing and launch pilot programs in major cities across China, according to the team. [Fudan University, in Chinese]Chinese telecoms giant Huawei reclaimed the top spot in Chinese smartphone sales during the first two weeks of 2024, according to market research firm Counterpoint’s China Smartphone Weekly Model Sales Tracker Report. The performance marks a strong comeback for Huawei, as the company has experienced a consistent decline in market share since US sanctions were introduced in 2019. The report attributes this achievement primarily to Huaweis new flagship Mate 60 series, featuring the self developed Kirin 9000S chip. Additionally, renewed brand loyalty and the launch of the HarmonyOS operating system have both played key roles in the company’s resurgence in the market, the report noted. [Counterpoint Research, in Chinese]

Alibabas enterprise communication tool DingTalk launched an official version built for the Apple Vision Pro on Feb. 4, two days after the hardware’s release in the US. The software features a range of workplace functions, including chats and meetings in a virtual environment. Based on the new visionOS features, DingTalk has created a complete 3D environment for the native app on the iPhone makers revolutionary spatial computer, boasting a number of unique features, the platform said in an official WeChat post. These unique features include enabling parallel processing of multi-tasks and persona, which shows users real-time facial and hand movements. Apples Vision Pro has not yet officially landed in China, but CEO Tim Cook said a launch in the country is coming soon. [DingTalk, in Chinese]On Sunday, tech blogger Smart Pikachu revealed on Chinas Twitter-like platform Weibo that the Xiaomi 15 smartphone will debut with the Snapdragon 8 Gen 4 and is expected to be released around October this year. The Xiaomi 15 series is expected to enter into mass production in September, with testing so far ahead of schedule, another account called Digital Chat Station added. Qualcomm may accelerate its efforts to release the upcoming flagship Snapdragon 8 Gen 4, aiming for mass production as early as September, according to US tech media Wccftech. Alongside its powerful hardware, the Xiaomi 15 Pro is reportedly set to feature advanced satellite communication capabilities, following in the footsteps of Huaweis satellite-enabled devices. [IThome, in Chinese]Chinese car manufacturer Chery Auto has formed a standalone business unit for its Luxeed electric vehicle brand, a move that could increase the speed of decision-making and enhance its partnership with Huawei, sources told the auto services portal Yiche on Sunday. The news comes after reports that the partnership might be in trouble, leading to a senior executive from Chery recently quitting his job and many customers waiting for up to a few months for the delivery of their first joint model, the Luxeed S7 sedan. The two companies, in late 2020, forged their alliance with plans to jointly launch at least five new EV models featuring Huaweis in-car technology, such as automated driving systems. The first model, the S7, went on sale on Nov. 28 with a starting price of RMB 249,800 ($34,921). [Yiche, in Chinese]Chinas e-commerce giant Alibaba is reportedly set to sell the grocery supermarket chain Freshippo and offline retailer RT-Mart, according to a Friday report by Reuters. This marks the latest news on the companys potential sale of its non-core and loss-making businesses. However, the report added that these selling discussions are at an early stage, and Alibaba may not proceed further. Founded in 2015, Freshippo signifies the Taobao owners ambitious entry into offline supermarkets and has diversified into various business forms, including the membership-only X store and the budget brand Freshippo Outlets, boasting over 300 stores nationwide. The Hangzhou-based company’s loss-making units have frequently been rumored to be up for sale since new management came on board in September, as it aims to focus more on its core business of domestic e-commerce. Alibaba did not immediately reply to a TechNode comment request. [Reuters]

Meituan CEO Wang Xing is taking direct control of the food delivery giants overseas businesses and drone delivery in its largest overhaul in recent years, according to Wangs employee-faced memo on Friday, as Meituan sets to step up bets on international markets amid more serious challenges inside China. As part of the reorganization, the company integrates its in-store and food delivery services that previously operated independently, with the consolidated division reporting to Meituan Senior Vice President Wang Puzhong. The current situation for Meituan is full of challenges, both internally and externally, but it is an opportunity for the company to grow further at the same time, Wang said in the email. The integration of Meituans most vital businesses within its core local segment comes at a time when the main delivery operation has slowed in recent months while Douyin poses aggressive threats to its in-store services through highly subsidized strategies. [21jingji, in Chinese]Chinese automakers saw their share of the global electric vehicle market rise to 68.2% over the last three months of 2023, compared with 57.4% as of March, as European car companies market share declined to the lowest level since 2019 on the back of shrinking subsidies and weak sentiment. The numbers were published by Cui Dongshu, secretary general of the China Passenger Car Association (CPCA), on his WeChat account on Saturday. Specifically, sales of Chinas green energy passenger vehicles, including pure EVs and plug-in hybrids, increased by 37% to nearly 8.9 million units last year, outperforming a 16% rise and a volume of 2.9 million units from European firms, according to CPCA figures. The industry group expects Chinas new energy vehicle sales to surpass 11 million units in 2024, up 22% from last year and representing a penetration rate of 40%. [Cui Dongshu, China Passenger Car Association, in Chinese]

ByteDance on Thursday rolled out a GPT-like platform that allows users to build their own chatbot for specific purposes, accelerating Chinese tech companies’ new bet on artificial intelligence. The platform is named Coze and supports user-created bots to share with the workplace communication tool Feishu and even Tencent-owned WeChat. The launch comes days after the chief executive of ByteDance, Jiang Rubo, criticized employees as “too slow to react” to the emergence of ChatGPT, which OpenAI teased in November 2022; the TikTok owner only started discussions around the promising technology in 2023. [Coze]Alibaba is reportedly considering the sale of Intime Department, a bricks-and-mortar retailer that the e-commerce giant privatized in 2017 for HK$19.8 billion, and which once formed a key part of its bid to modernize offline retail. The Taobao owner has engaged in talks with several potential buyers to assess their interest in acquiring Intime, which operates more than 100 department stores and shopping centers across China, according to local media outlets. Alibaba did not immediately respond to a request for comment on Friday. Rumors that Alibaba intends to sell its non-core businesses, including food delivery service Ele.me and entertainment-related ventures, have garnered market attention in the last two months amid the firm’s efforts to revamp its most profitable platforms Taobao and Tmall, but Alibaba has claimed that such speculations is “untrue.” [Jiemian, in Chinese]The National Press and Publication Administration (NPPA) of China today released the first batch of licenses for imported games in 2024, with 32 games receiving approval. Tencent Games secured licenses for two Nintendo Switch games, including the 3D adventure game Kirby and the Forgotten Land and the drum rhythm game Taiko no Tatsujin. NetEases subsidiary Boltrend Games obtained approval for the role-playing game Octopath Traveler: Champions of the Continent, while ByteDance’s gaming arm Nuversen gained approval for the action game World Trigger: Borderless Mission. From 2021 to 2023, the imported game approvals for the past three years were 76, 44, and 98, respectively. [NPPA, in Chinese]The National Press and Publication Administration (NPPA) of China today released the first batch of licenses for imported games in 2024, with 32 games receiving approval. Tencent Games secured licenses for two Nintendo Switch games, including the 3D adventure game Kirby and the Forgotten Land and the drum rhythm game Taiko no Tatsujin. NetEases subsidiary Boltrend Games obtained approval for the role-playing game Octopath Traveler: Champions of the Continent, while ByteDance’s gaming arm Nuversen gained approval for the action game World Trigger: Borderless Mission. From 2021 to 2023, the imported game approvals for the past three years were 76, 44, and 98, respectively. [NPPA, in Chinese]

Chinese display manufacturer BOE surpassed Samsung Display to become the industry leader in the foldable display sector, representing a 42% market share in the fourth quarter of 2023, according to display supply chain consulting firm DSCC. On the flip side, Samsung Display experienced a notable decline, dropping from 76% in the third quarter to 36% in the fourth quarter of 2023, which was its largest quarterly decrease since the first quarter of 2021. This marks the end of Samsung’s reign in the global OLED foldable market over the past five years, the report said. DSCC analysis indicates that BOE’s surge was primarily attributed to the substantial growth in demand for Huawei’s foldable smartphones, with a 122% increase in Huawei’s foldable display procurement in the fourth quarter of 2023 alone. [IThome, in Chinese]Xiaomi will begin mass production of its first electric vehicle model later this month, people familiar with the matter told 36Kr on Wednesday, the latest development in the Chinese smartphone giants entry into the fiercely competitive EV segment. The company is set to meet the start of production (SOP) requirements in late February, with a goal to achieve monthly output of 2,000 units in March and expand that number to more than 10,000 by July. The consumer tech firm, in late December, debuted the SU7 sedan, which boasts acceleration from 0 to 100 km/h (62 mph) in 2.8 seconds and a seamless connection between devices from smartphones to the cars dashboard and various home appliances. The car is scheduled for launch during the first half of this year, while rival Huawei has been selling EVs in collaborations with carmakers including Changan, Seres, and Chery. [36Kr, in Chinese]Capital Medical University Xuanwu Hospital and Tsinghua University School of Clinical Medicine jointly announced on Tuesday that they have achieved the world’s first clinical trial using an implanted epidural electrode brain-computer interface (BCI) to treat limb paralysis caused by a cervical spinal cord injury. The 54-year-old male patient had experienced a severe neck spinal cord injury in a car accident, resulting in a complete impairment classified as ASIA (American Spinal Injury Association) grade A and leading to persistent limb paralysis. On Oct. 24, 2023, two coin-sized brain-computer interface processors were implanted into the patient’s skull, according to the announcement. After three months of rehabilitation training, the patient can now use brainwaves to operate pneumatic gloves, enabling independent activities such as drinking water through brain control, with the patient able to achieve a grip accuracy rate exceeding 90%. [Capital Medical University Xuanwu Hospital, in Chinese]On Wednesday, the Ministry of Industry and Information Technology (MIIT) of China released an announcement on the telecommunications service quality in the fourth quarter of 2023, in which miHoYos hit game Genshin Impact was specifically mentioned by the MIIT for having the lowest timely complaint resolution rate at 39.3%. Among the 175 monitored internet companies, miHoYo, Guangzhou Great Wall Broadband Network, Ziroom, and Tongcheng Holdings were identified as the four companies that did not meet the required standards for timely complaint handling. The MIIT has urged the relevant companies to properly address the issues raised by users. Additionally, four types of complaints were received by the Internet Information Service Complaints platform: product functionality (47.7%), customer service (25.6%), privacy protection (12.9%), and other categories (13.8%). [MIIT, in Chinese]

Chinese automaker Chery Auto is working with Huawei in an all-round way to ramp up production of their first joint model, the Luxeed S7, a company spokesperson said on Wednesday, denying that there has been conflict between the two companies in a production-constrained situation. The state-owned manufacturer also denied rumors that a deputy general manager blasted Huawei for a lack of coordination before quitting his job recently, which comes after reports saying multiple customers were frustrated over unexplained and months-long delivery delays of the S7 electric sedan. The two companies on Jan. 11 announced compensation for those who had experienced delivery delays of more than six weeks for the car, launched in late November and featuring Huaweis in-car software with a starting price of RMB 258,000 ($35,381). The Chinese technology giant has been partnering with several other automakers including Changan, Seres, and BAIC. [CLS, in Chinese]Chinese artificial intelligence developer iFlytek on Tuesday unveiled an upgraded SparkDesk model and claimed it outperforms GPT-4 Turbo on metrics including language understanding and math, while its capability in multimodal understanding has reached 91% of that of OpenAIs most advanced model, according to the company. The Hefei-based firm didnt specify the judging criteria or modalities used for its claims. Named SparkDesk V3.5, the LLM is the first foundation model that was trained by a domestic computing power platform, according to a press release on iFlyteks WeChat account. The platform was co-launched by iFlytek and Huawei in October. [iFlytek, in Chinese]

Chinese electric vehicle battery maker CATL on Tuesday projected an up to 47.1% increase in net profit to RMB 41.5 billion ($5.8 billion) in its financial year ending Dec 31. However, the year-on-year growth rate would be slowed to 9.2% over the last three months, compared with a 10.7% rise in the previous quarter and a 153.6% surge in the first half of last year. The battery giant was dethroned by BYD from the top spot in the more affordable lithium-iron-phosphate (LFP) battery segment last year, as the latter led the shipment with a 40.4% market share compared with CATLs 34%, figures from China Automotive Battery Innovation Alliance showed. The results were also partly due to a growing trend towards plug-in hybrids over the past year, which use both gasoline and electricity as fuel sources and therefore normally carry smaller batteries than pure EVs. China reported an 82.5% annual increase in sales of PHEVs last year, compared with a 20.8% growth rate in BEV sales, according to figures from the China Passenger Car Association. [TechNode reporting, Caixin, in Chinese]ByteDance CEO Liang Rubo told the companys employees they lack a sense of crisis in an annual meeting on Tuesday, as the co-founder of Douyin and TikTok owner fears the ten-year-old firm is becoming mediocre and thus unable to break new ground. In his speech, Liang outlined three goals for ByteDance in the new year – maintaining a “first day of a startup” mindset among staff, enhancing community trust, and staying focused on a select set of priorities, according to the Chinese media outlet ThePaper. Overtly, while the tech unicorns short-video operation grabbed the largest market share, the emergence of rivals Kuaishou and WeChat Channel has posed a threat, and within the organization, Liang highlighted issues of low efficiency and sluggishness in seizing opportunities during his speaking, the most urgent problems to be solved currently to cope with external competition.[ThePaper, in Chinese]

GAC has opened its first showroom dedicated to its all-electric Aion brand in Hong Kong, the latest domestic automaker looking to expand sales to emerging electric vehicle markets amid slowing growth in mainland China. Toyotas manufacturing partner will initiate sales of its Aion Y Plus affordable crossover in the city in May with a goal of selling 5,000 units this year, Gu Huinan, general manager of GAC Aion, told reporters on Jan. 28. The company also unveiled plans to build five more retail and service locations in the Asian financial hub this year and set up more than 300 fast-charging piles near office buildings, shopping malls, hotels, and transport terminals all over the city by 2028. BYD earlier this month opened its first service center spanning 20,000 square feet in Yau Tong, Kowloon, in collaboration with Harmony Auto Holding Ltd, a Chinese auto dealership, while having operated several stores in Sha Tin, Sai Kung, among other areas. Tesla is the top seller, recording sales of 673 vehicles in the city in November, according to the latest figures published by the Hong Kong Transport Department. [TechNode reporting; Caixin, in Chinese]GAC has opened its first showroom dedicated to its all-electric Aion brand in Hong Kong, the latest domestic automaker looking to expand sales to emerging electric vehicle markets amid slowing growth in mainland China. Toyotas manufacturing partner will initiate sales of its Aion Y Plus affordable crossover in the city in May with a goal of selling 5,000 units this year, Gu Huinan, general manager of GAC Aion, told reporters on Jan. 28. The company also unveiled plans to build five more retail and service locations in the Asian financial hub this year and set up more than 300 fast-charging piles near office buildings, shopping malls, hotels, and transport terminals all over the city by 2028. BYD earlier this month opened its first service center spanning 20,000 square feet in Yau Tong, Kowloon, in collaboration with Harmony Auto Holding Ltd, a Chinese auto dealership, while having operated several stores in Sha Tin, Sai Kung, among other areas. Tesla is the top seller, recording sales of 673 vehicles in the city in November, according to the latest figures published by the Hong Kong Transport Department. [TechNode reporting; Caixin, in Chinese]Volkswagen has appointed Thomas Ulbrich, a veteran of more than 30 years at Germanys biggest automaker, as the new chief technology officer in China, hoping to foster the local development of new models to meet the growing demand for intelligent, connected electric vehicles. Effective April 1, Ulbrich will also serve as the chief executive of Volkswagen China Technology Company, the companys largest research and development center outside Germany, where it has been working with Xpeng Motors on two new models scheduled for launch in 2026. The German carmaker has set a goal of selling at least 30 all-electric vehicle models in China by 2030, while another 30 locally-built models, including plug-in hybrids and gas-powered cars will be available by 2027 in collaboration with manufacturers such as SAIC and FAW. It is also looking to shorten the development cycle by 30% for cars with key components, ranging from batteries to automated driving systems, with assistance from partners including Gotion High-Tech and Horizon Robotics. [Volkswagen release]Volkswagen has appointed Thomas Ulbrich, a veteran of more than 30 years at Germanys biggest automaker, as the new chief technology officer in China, hoping to foster the local development of new models to meet the growing demand for intelligent, connected electric vehicles. Effective April 1, Ulbrich will also serve as the chief executive of Volkswagen China Technology Company, the companys largest research and development center outside Germany, where it has been working with Xpeng Motors on two new models scheduled for launch in 2026. The German carmaker has set a goal of selling at least 30 all-electric vehicle models in China by 2030, while another 30 locally-built models, including plug-in hybrids and gas-powered cars will be available by 2027 in collaboration with manufacturers such as SAIC and FAW. It is also looking to shorten the development cycle by 30% for cars with key components, ranging from batteries to automated driving systems, with assistance from partners including Gotion High-Tech and Horizon Robotics. [Volkswagen release]On Tuesday, the analyst firm SensorTower released its 2023 annual review on the overseas performance of China’s mobile games, with the action role-playing game Genshin Impact from miHoYo securing the top spot. In 2023, overseas mobile game players’ expenditure on the App Store and Google Play amounted to $616 billion, while the overseas revenue of the top 30 Chinese mobile games on these platforms reached $7.8 billion. In terms of overseas revenue, the top five mobile games from Chinese developers in 2023 were Genshin Impact (miHoYo), PUBG MOBILE (Tencent Games), Honkai: Star Rail (miHoYo), Call of Duty (Activision Blizzard & Tencent Games), Puzzles & Survival (37 Interactive Entertainment). [SensorTower, in Chinese]Alongside Apple, Intel’s next-generation Nova Lake processor may also embrace TSMC’s 2nm process technology, as TSMC plans to mass-produce the 2nm chips by 2025. Nova Lake, which will be Intel’s largest architectural upgrade, is expected to launch in 2026. The report suggests that Intels decision to use TSMC’s 2nm process in Nova Lake could be a strategic move to address the substantial architectural upgrade, ensuring market competitiveness by leveraging TSMC’s advanced 2nm process technology. Nova Lake is likely to follow a Chiplet design similar to Intels Core Ultra, with the CPU (central processing unit) core potentially produced by Intel’s own foundry, while the GPU (graphics processing unit) part may adopt TSMC’s 2nm process. [Icsmart, in Chinese]

BYD on Monday forecast an up to 86.5% year-on-year increase in its net profit to RMB 31 billion ($4.3 billion) for 2023. However, that means the profit for the three months ended Dec. 31 will be up to RMB 9.6 billion, which would represent at least an 8% decline compared with the RMB 10.4 billion it earned in the previous quarter. The results reflect the growing pressure in the Chinese car market, which has forced the countrys biggest electric vehicle maker to offer significant discounts over the year-end holiday season to achieve its annual target of selling 3 million cars. The Warren Buffett-backed automaker also said on Jan. 16 that it has hired more than 4,000 engineers for automated driving as part of an RMB 100 billion long-term investment initiative. Rival Teslas net income dropped 39% year-on-year but grew 7.2% quarter-on-quarter to $2.5 billion in the fourth quarter of last year. BYD share prices dipped 5.5% during Tuesdays morning trading session in Hong Kong. [BYD filing, in Chinese]Both TikTok and Shein have sharply increased lobbying spending in the US as the two China-founded companies face scrutiny there over their Chinese ties. Data from OpenSecrets shows that the fast-fashion giant boosted its spending on lobbying by 657% to $2.12 million in 2023 compared to a year prior, but this was still less than a quarter of TikTok owner ByteDances spend last year of $8.74 million. The parent company of the video-sharing app had a total of 45 lobbyists in 2023, largely unchanged from the previous three years, while Shein hired 14 lobbyists last year compared to only eight in 2022 as the firm faces an uncertain IPO outlook in the US. [OpenSecrets]

Temu is planning to absorb sellers who can ship locally within its covered countries, including those who already operate overseas warehouses or store inventory beyond China, according to the Chinese media outlet Caijing. This low-cost fulfillment model brings warehousing and logistics fulfillment responsibility to merchants themselves. The model is scheduled to go live first in the US starting on March 15, followed by European sites at the end of March before further expanding, the report said. Under the upcoming business model that reduces the need for items to cross borders, merchants are more flexible in partnering with local logistics firms after packing orders, thereby cutting shipping times to secure advantages over challenging competitors like Amazon. [Caijing, in Chinese]Huawei is set to launch a new flip-foldable smartphone in February, following the P50 Pocket in 2021 and the Pocket S in 2022, according to a report in local media outlet IThome, which cited sources on Chinas Twitter-like platform Weibo. Details of the upcoming device, known by the code-name LEM, have not yet been officially disclosed. The new flip phone will reportedly feature Huaweis self-developed 5G Kirin chip and will be positioned similarly to the Chinese tech giants mid-range Nova series. Reservations for the new device are expected to begin after the Chinese New Year holiday, which is from Feb. 9 to Feb. 17. In 2023, according to data from a third-party organization cited in the IThome report, Oppo led the flip-foldable phone sector in the Chinese market with a 30% market share, followed by Huawei at 29%, and Samsung at 23%. [IThome, in Chinese]

On Jan. 27, US Secretary of Commerce Gina Raimondo stated that the US government is proposing to require American cloud service companies to conduct self-assessments to determine whether foreign entities are accessing US data centers for training artificial intelligence models. The US government plans to take measures to limit China from utilizing US technology for AI-related development, as this emerging industry has raised security concerns, the report said. The proposed regulations were published on the Federal Register website last Friday. In 2023, the global top 10 cloud service providers include Amazon Web Services, Microsoft Azure, Google Cloud, Alibaba Cloud, Oracle Cloud, IBM Cloud, Tencent Cloud, OVHcloud, DigitalOcean, and Linode, according to intelligence platform Dgtl Infra. Seven out of the ten listed cloud service providers are from the US. [Icsmart, in Chinese]Tesla shares slid 12.1% to $182.60 on Thursday, marking the stocks steepest drop since May, after the US electric vehicle maker posted lower-than-expected revenue and worsening margin trends for the fourth quarter of 2023. The decline was also due to a more cautious and ambiguous outlook as chief executive Elon Musk warned of a notably lower sales growth rate for this year in its shareholder letter. Musk did not give a specific annual delivery goal as expected. Teslas sales for the three months ended Dec. 31 grew only 3% to $25.2 billion, which was below analysts estimate of $25.6 billion and the firms lowest year-on-year growth rate over the past three years. Tesla also reported a gradual decline in gross margin from 19.3% to 17.6% throughout the year, as the company has repeatedly cut prices amid slowing demand globally and rising competition from China. The Thursday drop put Teslas market capitalization at roughly $581 billion, with $80 billion wiped out overnight. [CNBC]

With its IPO plan in limbo, China-founded e-commerce brand Shein is being valued at $45 billion by some investors looking to sell shares in the firm on the private market, according to Bloomberg. The fast fashion giant raised $2 billion in its latest funding round last May, valuing the company at $66 billion. Shein is under review by Chinas cyberspace administration due to it attempts to speed up a public listing in the US, Bloomberg reported last week. Meanwhile, the company faces resistance from American lawmakers who look set to ask US regulators to halt its IPO until claims about Sheins alleged use of forced labor have been fully investigated. Scrutiny from both the US and China has further dented investors confidence in Sheins long-awaited IPO, with the Bloomberg report quoting sources as saying that they are currently struggling to find buyers despite a relatively low valuation. [Bloomberg]BMW China unveiled the redesigned versions of its top-selling 5 Series on Thursday, featuring a spacious 31-inch 8K rear screen and eye-motivated driver assistance tech. The model is tailored to meet the growing demand for in-car digital services among tech-savvy local customers. The China-spec 5 Series, part of the eighth generation of BMWs midsize sedan lineup, boasts a roomier space with a 3.1-meter wheelbase, compared to the global models 2,995-millimeter wheelbase. The infotainment system addresses local needs with services like a voice-operated WeChat version, app downloading, and video streaming from Huawei and Baidu-affiliated iQiyi. The luxury sedan, equipped with a large, high-resolution, floating screen for rear passengers, introduces an assisted driving function allowing lane changes with eye confirmation via the outside mirror. BMW notes the sedan is technically prepared for Level 3 autonomous driving, permitting drivers to divert attention from the road and hands from the wheel in specific conditions. This development follows BMWs announcement of localizing research and development for L3 technology in China in July. Prices for both the i5, the series first all-electric model, and its gasoline variant start at RMB 439,900 ($61,278). [BMW release]BMW China unveiled the redesigned versions of its top-selling 5 Series on Thursday, featuring a spacious 31-inch 8K rear screen and eye-motivated driver assistance tech. The model is tailored to meet the growing demand for in-car digital services among tech-savvy local customers. The China-spec 5 Series, part of the eighth generation of BMWs midsize sedan lineup, boasts a roomier space with a 3.1-meter wheelbase, compared to the global models 2,995-millimeter wheelbase. The infotainment system addresses local needs with services like a voice-operated WeChat version, app downloading, and video streaming from Huawei and Baidu-affiliated iQiyi. The luxury sedan, equipped with a large, high-resolution, floating screen for rear passengers, introduces an assisted driving function allowing lane changes with eye confirmation via the outside mirror. BMW notes the sedan is technically prepared for Level 3 autonomous driving, permitting drivers to divert attention from the road and hands from the wheel in specific conditions. This development follows BMWs announcement of localizing research and development for L3 technology in China in July. Prices for both the i5, the series first all-electric model, and its gasoline variant start at RMB 439,900 ($61,278). [BMW release]Chinas Baidu has expanded its AI business with the integration of the ERNIE foundation model in Samsungs latest smartphone, the Galaxy S24 Series. In China, Galaxy AI, powered by Baidus ERNIE model, will offer functionalities including real-time call translation, summarization, and advanced typesetting, as stated in a Friday press release by Baidu. The new Samsung Galaxy S24 series features Googles AI model Gemini outside China due to the Great Firewall blocking Google, OpenAIs ChatGPT, and other mainstream sites on the mainland. [TechNode reporting]

Dutch chip equipment maker ASML said on Wednesday that it expected the government’s export restrictions to curb sales in the Chinese market by 10%-15% in 2024, as the company released its financial report for the fourth quarter and full year of 2023. Last year, Chinas Taiwan became ASML’s leading market, representing 30% of total sales, followed by mainland China in second place with 29%, a substantial 15% increase from the previous year. On Jan. 1, the Dutch government revoked export licenses for two of ASML’s advanced lithography machines, namely NXT:2050i and NXT:2100i. Additionally, certain advanced semiconductor wafer fabs in China are unable to obtain licenses for shipping NXT:1970i and NXT:1980i DUV (deep ultra-violet equipment), as confirmed by ASML CFO Roger Dassen. [Jiemian, in Chinese]Alibabas seldom-seen co-founder Jack Ma and current chairman Joe Tsai become the giants largest shareholders, according to a Wednesday report by the South China Morning Post, as Ma and Tsai spent $200 million worth of its shares in the fourth quarter while Japans SoftBank gradually exits Alibaba. According to the e-commerce titans annual report, SoftBank held 23.9% of Alibaba’s stake or 5.07 billion shares as of July 15, 2022, but had cut it to less than 0.5% by May last year, the report cited calculations by Morgan Stanley. And Ma has increased his stake to over 4.3%. Under new leadership since September, Alibaba CEO Eddie Wu and Chairman Tsai proposed an AI focus and users first as priority strategies for the struggling empire in revamp. [SCMP]

On Tuesday, the Chinese phone brand Oppo announced the signing of a global patent cross-licensing agreement with the Finnish tech company Nokia, covering standard patents in 5G and other cellular communication technologies. Both parties agreed to end all litigation cases after the agreement, while specific terms remain confidential. Oppo’s chief intellectual property officer, Feng Ying, emphasized the companys commitment to respecting intellectual property, supporting fair pricing, and promoting a sustainable IP ecosystem. Nokia President Jenni Lukander stated that they seek to bring more innovations to global users through the collaboration, and the agreement is expected to ensure long-term financial stability in Nokia’s licensing business. [Oppo, in Chinese]Chinese e-commerce giant JD has secured a deal to serve as the exclusive interactive cooperation platform for the upcoming Spring Festival Gala, the countrys most-watched TV show featuring songs and comedy performances to welcome in the lunar new year. The second partnership between JD and state broadcaster China Central Television (CCTV) after the first in 2022, the deal is aimed at JD attracting more users in lower-tier cities. In a post on its WeChat account, JD says it will send 100 million gifts-in-kind that each winner will only need to pay RMB 0.01 to receive during the Gala. A JD employee was quoted by local media outlet LatePost as saying the firms Gala program involves thousands of staff who will take on heavier marketing pressures than those in 2022, with GMV and the number of transaction users being the direct metrics for them at what is traditionally a family time. The company’s revenue grew at a single-digit pace in the first three quarters of last year, with a 2% increase during the July and September period, far behind rival PDD’s 94%. [JD; LatePost, in Chinese]

Chinese automaker SAIC has continued making efforts to reorganize its research and development operations which could entail a significant number of job cuts in its troubled electric vehicle brand Rising Auto, people with knowledge of the matter told local media outlet Gasgoo on Tuesday. The Volkswagen manufacturing partner will return the responsibility for automated driving software development from the individual brand back to the parent group, with at least 200 employees either being let go or being moved to the firms existing research departments. It is unclear how many employees will receive new job offers amid the ongoing restructuring. The state-owned carmaker was said to be considering reducing internal technology efforts as part of group-wide cost saving measures last August, as there appears to be growing consensus among traditional Chinese manufacturers that outsourcing assisted-driving technology is a better solution than developing it in-house a la Tesla. Rising Autos two battery EVs on sale 鈥 the R7 crossover and the F7 sedan 鈥 have a starting price of RMB 189,900 ($26,481) and it delivered a total of 21,012 units over the last 12 months, according to figures compiled by Chinese auto service platform Dongchedi. [Gasgoo, in Chinese]News that Alibaba co-founders Jack Ma and Joe Tsai bought $200 million worth of shares in the Chinese e-commerce giant in the fourth quarter sent the firms New York-listed stock up nearly 8% on Tuesday. A report in the New York Times said Ma bought $50 million in Hong Kong shares in Alibaba during the quarter, while current chairman Tsai purchased $151 million worth of its US-traded stock via his Blue Pool Management family investment vehicle, showing their support for the 25-year-old firm as it faces multiple challenges. The companys Hong Kong-traded shares rose 4.3% in the exchanges Wednesday morning session. Ma believes Alibaba stock is now strongly below its actual value, the firms chief people officer Jane Jiang told employees in November, confirming that the companys founder had postponed his plan to sell 10 million shares at a value of around $870 million. [The New York Times; SEC filling]

Great Wall Motor reported significant growth in vehicle sales in the year ended Dec. 31, with revenue rising 26.3% to RMB 173.4 billion ($24.2 billion) from a year earlier. However, net profit was down by 15.2% to RMB 7 billion, which the Chinese automaker said was hurt by foreign currency swings, sending shares down 9.2% to roughly HK$ 8.1 ($1) in morning trading on Wednesday in Hong Kong. The results reflect how most automakers have come under pressure in the worlds biggest and yet probably the most competitive electric vehicle market, as they have been forced to cut prices to keep up with leaders BYD and Tesla. Great Wall Motor posted sales of more than 1.2 million cars last year, up 15.3% from a year earlier, although falling short of its target of 1.6 million units. [China Securities Journal, in Chinese]Great Wall Motor reported significant growth in vehicle sales in the year ended Dec. 31, with revenue rising 26.3% to RMB 173.4 billion ($24.2 billion) from a year earlier. However, net profit was down by 15.2% to RMB 7 billion, which the Chinese automaker said was hurt by foreign currency swings, sending shares down 9.2% to roughly HK$ 8.1 ($1) in morning trading on Wednesday in Hong Kong. The results reflect how most automakers have come under pressure in the worlds biggest and yet probably the most competitive electric vehicle market, as they have been forced to cut prices to keep up with leaders BYD and Tesla. Great Wall Motor posted sales of more than 1.2 million cars last year, up 15.3% from a year earlier, although falling short of its target of 1.6 million units. [China Securities Journal, in Chinese]Self-driving truck developer TuSimple is suspending its business in the US and shifting its focus to the Asia Pacific markets, especially China, Japan, and Australia, hoping to commercialize and profit from its autonomous driving technologies. Chief executive Lu Cheng cited a mature local supply chain and strong regulatory support as reasons. Another executive told 36Kr on Monday that its China operation, with a team of 600 people, has secured two pilot deals for developing assisted driving software. These remarks were made two days after TuSimple, a San Diego, California-based startup with a Chinese background, said on Jan. 17 that it would delist from Nasdaq, probably on Feb. 7, following an announcement last month to cut 75% of its employees in the US. The retreat from the US is a fallout of a government investigation initiated by the US Committee on Foreign Investment in late 2022 about whether the company shared intellectual properties developed in the US with a Chinese company. TuSimple shares closed at $0.44 on Monday, compared with its debut price of $40.[South China Morning Post, 36Kr, in Chinese]Self-driving truck developer TuSimple is suspending its business in the US and shifting its focus to the Asia Pacific markets, especially China, Japan, and Australia, hoping to commercialize and profit from its autonomous driving technologies. Chief executive Lu Cheng cited a mature local supply chain and strong regulatory support as reasons. Another executive told 36Kr on Monday that its China operation, with a team of 600 people, has secured two pilot deals for developing assisted driving software. These remarks were made two days after TuSimple, a San Diego, California-based startup with a Chinese background, said on Jan. 17 that it would delist from Nasdaq, probably on Feb. 7, following an announcement last month to cut 75% of its employees in the US. The retreat from the US is a fallout of a government investigation initiated by the US Committee on Foreign Investment in late 2022 about whether the company shared intellectual properties developed in the US with a Chinese company. TuSimple shares closed at $0.44 on Monday, compared with its debut price of $40.[South China Morning Post, 36Kr, in Chinese]

In 2023, smartphone shipments in the domestic market reached 289 million units, marking a year-on-year growth of 6.5%, according to the China Academy of Information and Communications Technology. In the same year, smartphones from domestic brands continued to dominate the market, evident in consumer preferences as indicated by the report. 79.9% of mobile phone shipments were domestically made phones in 2023, reflecting a year-on-year growth of 1.1%. Furthermore, with a year-on-year increase of 11.9%, 5G mobile phone shipments amounted to 240 million units, representing 82.8% of the total mobile phone shipments during the same period. [CAICT, in Chinese]Chinas top research institution is pushing the industrialization of solid-state batteries with a new task force, said Miao Wei, a former Minister of Industry and Information Technology (MIIT) and a core member of Chinese Peoples Political Consultative Conference (CPPCC), a political advisory body. The China All-Solid-State Battery Collaborative Innovation Platform (CASIP), formed by members of the Chinese Academy of Sciences, will coordinate efforts of car manufacturers, battery makers, suppliers, and researchers, aimed at developing breakthrough battery technology. We should maintain the strategy of making more gradual semi-solid state batteries while preparing for significant disruptions from the adoption of all-solid state batteries, said Ouyang Minggao, a Tsinghua University professor and a member of the Chinese Academy of Sciences. He cited Beijings global leadership in electric vehicles as it faces competition in battery technologies. Japan has bet on all-solid-state batteries since Toyota last June set a target of commercialization as early as 2027. [Xinhua News Agency, in Chinese]

Ren Lifeng, the vice president of ByteDance’s VR subsidiary PICO, has officially resigned from the company and opted to venture into cross-border e-commerce as an independent platform, according to the local media outlet TechWeb. Reports suggest that his startup project has secured investments from Sequoia China and IDG, with a post-investment valuation exceeding $50 million. Rens team includes several members from Douyin (Chinas TikTok sibling), with even major veterans from the platform Douyin joining. Currently, PICO has not yet responded to this matter. In November 2023, PICO released a public statement announcing organizational restructuring and related team downsizing, impacting over 300 employees, which represents 23% of the workforce. [TechWeb, in Chinese]Guo Qing, former vice president of Meituan, will reportedly lead e-commerce giant JDs on-demand delivery arm Dada, a company recently audited as engaging in suspicious practices, according to local media outlet 36Kr. A source with knowledge of the matter told TechNode that Guo currently serves as an advisor to JD, and has not yet joined in an official capacity. Before starting a venture in stir-fry robot manufacturing in 2021, Guo was responsible for Meituans hotel and travel operations, tapped for the companys S-Team decision-making body a year before he quit. The news of Guos potential leadership of Dada comes after it was revealed that parent company JD had invested tens of millions of yuan in Guos startup a month ago, while Dada competes with Meituan in on-demand delivery. [36Kr, in Chinese]

On Jan.20, Nvidia China employees shared photos on social media of Jensen Huang, the companys founder and CEO, at its annual meeting in Shanghai. During the internal event, he was seen wearing a flower-patterned shirt from the northeastern region of China and dancing a traditional Chinese folk dance from the same region. The visit marks Huangs first trip to mainland China since the COVID-19 pandemic began in 2020. Nvidia clarified that Huangs visit did not include meetings with government officials or business announcements. Currently, Nvidia employs around 3,000 employees in mainland China, with offices in Beijing, Shanghai, and Shenzhen covering departments such as marketing, sales, and R&D. [Yicai, in Chinese]Luckin Coffee once again meets Chinas national liquor Moutai in a fresh co-branded beverage specially designed for the upcoming Dragon Year, in a move that aims to replicate the alcohol-infused latte buzz from last September. Named the sauce-flavored chocolate, this no-coffee-added drink is priced at RMB 38, discounted to RMB 18 on Monday, the first day of sales. However, it received mixed consumer feedback on social media, similar to the previous latte. The chocolate drink is made of imported cocoa powders and thick milk that contains baijiu with 53% alcohol, as stated by Luckin on its official WeChat account. [Luckin Coffee, in Chinese]