The Bamboo Works

1 week ago | thebambooworks.com | Doug Young

China’s smartphone shipments rose 3.3% in this year’s first quarter, as domestic brand Xiaomi (1810.HK) surged by nearly 40% year-on-year to become the market leader, according to data published on Tuesday. At the same time, Apple’s (AAPL.US) China smartphone shipments tumbled 9% year-on-year in the quarter, making it the market’s fifth-largest brand.

1 week ago | thebambooworks.com | Doug Young |Rene Vanguestaine |Brent Li

“There is a growing belief among consumers and investors alike that Beijing’s measures are finally breathing life back into the economy.”By Doug Young & Rene VanguestaineChina’s business landscape is at a critical juncture, marked by promising recovery signals in the embattled private fintech lending sector and fresh challenges in international expansion by major Chinese corporations. These twin stories underscore both the resilience and vulnerabilities in China’s evolving corporate landscape.

1 week ago | thebambooworks.com | Doug Young

Despite earning a massive $2.15 billion in ticket sales, the blockbuster animated film “Ne Zha 2” has earned just $60 million from sales outside China, financial media Caixin reported on Thursday. Since its release during the Chinese New Year holiday period, the movie about a devil child has become a source of national pride for China, shattering the global box office record for highest ticket sales by an animated film.

2 weeks ago | thebambooworks.com | Doug Young

The company said it closed a deal first announced last September to sell new stock to shared ride operator Dida for $7.5 million Key Takeaways: Uxin has received $7.5 million in funding from Dida, following a similar $27 million cash infusion from longtime investor Nio last month The company reported strong growth for its two used car superstores in the third quarter, and announced plans to add new stores in the cities of Wuhan and Zhengzhou By Doug Young China’s car market is hardly a place...

3 weeks ago | thebambooworks.com | Doug Young

Intra-city delivery company Dada Nexus Ltd. (DADA.US) said on Tuesday it signed a definitive agreement to be privatized by majority stakeholder JD.com (JD.US; 9618.HK) at a price of $2 per American depositary share (ADS). The offer comes after Dada Nexus received a preliminary offer to be privatized by JD.com in January. Dada said the $2 offer price represents a 42% premium to the closing price of its ADSs on Jan. 24, the last trading day before it announced the preliminary deal with JD.com.