Dou Shicong

China

Writer at Yicai Global

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Articles

SAIC’s Xiangdao Closes Largest Fundraiser in Chinese Mobility Field in Three Years

6 days ago | yicaiglobal.com | Dou Shicong

(Yicai) May 9 -- Xiangdao Chuxing, the mobility arm of Chinese automotive giant SAIC Motor, has secured over CNY1.3 billion (USD179.4 million) in its latest fundraiser, the largest in the Chinese mobility industry in the past three years. SAIC, industrial funds, and local government institutions participated in the Series C financing round, the Shanghai-based firm announced today.
Roche to Invest USD276 Million to Build Its Second Drug Plant in Shanghai

1 week ago | yicaiglobal.com | Dou Shicong

(Yicai) May 9 -- Switzerland's Roche plans to invest CNY2 billion (USD276.4 million) to build its second Chinese biopharmaceutical production base in Shanghai, expanding its local innovative drug capacity. The facility, located in the Zhangjiang Hi-Tech Park in Shanghai's Pudong New Area like Roche's first one, will produce Vabysmo eye injection once it becomes operational in 2031, the Basel-based firm announced on WeChat yesterday. Construction is expected to be completed in 2029.
Topsports Gains on Exclusive China Rights to Norwegian Outdoor Brand Norrøna

1 week ago | yicaiglobal.com | Dou Shicong

(Yicai) May 8 -- Shares of Topsports International Holdings rose after China’s largest sportswear retailer secured the exclusive regional rights to sell products from Norrøna, a premium Norwegian outdoor brand. Topsports [HKG: 6110] closed 2.2 percent higher at HKD3.22 (US 40 cents) in Hong Kong today, after climbing as much as 3.2 percent during intraday trading. The increase brought its market capitalization to around HKD20 billion (USD2.6 billion).
China Tightens Performance Evaluation for Public Mutual Funds, Improves Fee Regime

1 week ago | yicaiglobal.com | Dou Shicong

(Yicai) May 7 -- China unveiled a stricter performance evaluation mechanism and introduced a floating fee collection system tied to investment returns to promote the high-quality development of the public mutual fund industry.
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1 week ago | yicaiglobal.com | Dou Shicong |Ma Chenchen

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Pony.ai's Stock Soars After Chinese Self-Driving Startup Allies With Uber on Robotaxi Services

1 week ago | yicaiglobal.com | Dou Shicong

(Yicai) May 7 -- Pony.ai's shares surged after the Chinese autonomous driving startup said it has linked arms with ride-hailing giant Uber Technologies to speed up the commercialization of its robotaxi services. Pony.ai [NASDAQ: PONY] closed 48 percent higher at USD14.32 in New York yesterday. The stock has soared 244 percent since April 23, when the company unveiled its new autonomous driving solution and robotaxi fleet on the first day of the Shanghai Auto Show.
Chinese Mining Giant Zijin to Spin Off, List Overseas Gold Mines in Hong Kong

1 week ago | yicaiglobal.com | Dou Shicong

(Yicai) May 6 -- Zijin Mining Group said it plans to spin off its overseas gold mining assets into a new unit for listing in Hong Kong, with the aim of speeding up the Chinese mining giant’s internationalization amid record high prices for the precious metal.
China’s Factory, Services Activity Grow Slower in April, Caixin PMI Shows

1 week ago | yicaiglobal.com | Dou Shicong

(Yicai) May 6 -- Activity in China’s manufacturing and services sector expanded at a slower pace in April, mainly because of the escalating trade tensions with the United States, according to a widely-watched survey that polls small and private businesses. The Caixin services purchasing managers index came in at 50.7 last month, down from 51.9 in March to the lowest in seven months, according to data released by financial media group Caixin today.
China's Pony.ai, Tencent Team Up on Robotaxi Services

2 weeks ago | yicaiglobal.com | Dou Shicong

(Yicai) April 25 -- Chinese autonomous driving startup Pony.ai has joined hands with internet giant Tencent Holdings to accelerate the commercialization of robotaxi services. Tencent's mobile app network, which includes China's largest social media platform WeChat and online mapping service Tencent Map, will introduce Pony.ai's autonomous driving taxi services, Guangzhou-based Pony.ai announced today.
China Approves 127 New Game Licenses in April

3 weeks ago | yicaiglobal.com | Dou Shicong

(Yicai) April 22 -- China's National Press and Publication Administration issued 127 new game licenses this month, with 118 domestic titles, including some from Tencent Holdings and NetEase. Hero-based tactical shooter Fate Trigger, developed by Tencent's Saroasis Studio and powered by Unreal Engine 5, and Extreme Battlefield from NetEase's Leihuo Technology were on the list of approved games released by the regulator yesterday.