China Tech News

William Ding, LeSEE's co-founder, global vice president, and China and Asia Pacific CEO, recently confirmed his departure from LeSEE on Weibo.

At the same time, LeSEE announced that LeSEE China's president and chief operating officer Zhang Hailiang will be LeSEE's global chief executive officer, effective immediately. Meanwhile, Niu Shengfu formally joined LeSEE as the company's chief technology officer in China.

more...

In 2016, China Mobile realized operating revenue of CNY708.4 billion, a year-on-year increase of 6%.
Its earnings before interest, taxes, depreciation and amortization were CNY256.7 billion, a year-on-year increase of 6.9%; and its net profit was CNY108.7 billion, a slight increase of 0.2% compared with the same period of previous year.

China Mobile's average profit per day was nearly CNY300 million in 2016 and its net profit was nearly five times more than the combined net profits of China Telecom and China Unicom.

more...

Former Kingsoft CEO Zhang Hongjiang has joined venture capital firm Source Code.
Zhang had been the chief executive officer at Kingsoft since he joined the company in 2011. Prior to Kingsoft, he served as the chief technology officer of Microsoft Asia-Pacific Research and Development Group, and founded Microsoft Advanced Technology Center in 2003.

From 1999 to 2003, he worked as the assistant managing director at Microsoft Research Asia, where he was responsible for data mining and search, media computing, natural language process and distributed systems research areas and patent portfolio and technology transfer.

more...

Taiwan Semiconductor Manufacturing Company Limited's financial report for the first quarter of 2017 and its performance outlook for the second quarter of 2017 shows increased net profit.
TSMC realized combined operating revenue of NTD233.91 billion, which was about CNY53.12 billion, during the first quarter of 2017, representing a year-on-year increase of 14.9% and a decrease of 10.8% compared with the previous quarter.

Meanwhile, the company's net profit after tax was NTD87.63 billion, which was about CNY19.9 billion, a year-on-year increase of 35.3% and a decrease of 12.5% compared with the previous quarter. Its post-tax net profit per share was NTD3.38, which was about CNY0.77.

more...

Chinese search engine company Baidu announced that they have reached a strategic deal with Visual China Group and the cooperation includes picture, video and music resources.

Baidu said that the strategic cooperation covers Baidu's various products and it aims to provide the best-quality content resources to users, content creators, and commercial advertisers.

more...

American video website Netflix has reached a content licensing agreement with the Chinese video website Iqiyi.com.
Netflix is an American video streaming media provider with video services around the world. The company started promoting its services in the global market over a year ago and it currently operates in 130 countries and regions. However, it has not yet entered the Chinese market. Apart from providing video streaming media services, Netflix has gradually launched self-made film and television contents, including House of Cards and Stranger Things, in recent years.

more...

Tencent has made a USD143 million strategic investment in the Chinese leading gaming company Seasun.
On the completion of the transaction, Tencent will own over 90 million Seasun shares, accounting for 9.9% of the total issued shares of the company.

Based on the cooperation agreement signed by the two parties, if Seasun decides not to publish and operate its new games by its own, Tencent will enjoy the exclusive priority to publish and operate the Simplified Chinese version of those new games in mainland China. If Seasun plans to sell its game-related intellectual properties, Tencent will have the priority purchase rights under the same conditions.

more...

Chinese B2C e-commerce provider JD.com and German tire brand Continental announced a strategic deal to sell tires to e-commerce consumers.

With the cooperation, Continental will directly supply to JD, instead of via a multi-level resale model. At the same time, the two parties will establish an exclusive supply channel which will provide more exclusive products and new products to JD consumers.

more...

China Unicom's financial and operating statistics for the first quarter of 2017 shows that the company achieved revenue of CNY69.005 billion, a year-on-year decrease of 1.9%; and its net profit was CNY862 million, a year-on-year increase of 79.3%.

China Unicom's service revenue was CNY61.426 billion during the first quarter of 2017, a year-on-year increase of 2.4% and an increase of 6.6% compared with the previous quarter. Meanwhile, its mobile service revenue was CNY37.197 billion, a year-on-year increase of 2.8% and an increase of 5.1% compared with the previous quarter.

more...

Shanghai Pudong Science and Technology Investment Co., Ltd. announced the acquisition of all Advanced Semiconductor Manufacturing Co., Ltd. shares held by NXP Semiconductors.

On the completion of the acquisition, Pudong Science and Technology Investment will have 27.47% of total issued shares of Advanced Semiconductor Manufacturing, making it the largest shareholder of the high-tech company.
Shanghai Advanced Semiconductor Manufacturing was founded as a Sino-Dutch joint venture in 1988, and was originally known as Philips Semiconductor Shanghai. Located in Caohejing Hi-Tech Park, Xuhui district, the company is a large-scale integrated circuit chip manufacturing company.

more...