News on the Internet & Tech Industry in China

Streaming for the exit

Tencent Music opts for secondary listing in Hong Kong
Sep 23, 2022 (WiC 601)

News of a deal last month in which American auditors will be visiting Hong Kong to review the books of Chinese firms listed in the US seemed to signal the clouds are lifting over a row that has dragged on for years. But has the breakthrough come ...

War of the wafers

US broadens curbs on chip exports to China
Sep 16, 2022 (WiC 600)

“The future of the chip industry is going to be made in America,” crowed Joe Biden, the US president, in a trip to Ohio last week to celebrate the groundbreaking at Intel’s new $20 billion semiconductor plant. The facility is one of the ...

In disposal mode

Is Tencent set to sell down its massive portfolio?
Sep 9, 2022 (WiC 599)

After years as a shoo-in choice for investors, Tencent has been falling out of favour. Its share price has been declining for months and it just posted its first-ever quarterly decline in revenues, with net income falling sharply. Company bosses ...

Zhangbei now tops the FLOPS

Alibaba unveils world’s most powerful supercomputer
Sep 9, 2022 (WiC 599)

Generally speaking, companies don’t like to announce any ‘flops’ in their performance. That is, unless you are in the world of supercomputing, where FLOPS are a good thing indeed. FLOPS stands for “floating-point operations per ...

The trillion dollar wall

Latest Tencent revenue drop was rare but has investors asking questions
Aug 26, 2022 (WiC 597)

Early last year Tencent was on the verge of a major milestone – a market capitalisation of $1 trillion, putting it in the rarefied company of heavyweights like Apple, Alphabet, Amazon and Microsoft. But the threshold was never reached and ...

Lei Jun’s big bet

Why Kingsoft Cloud is seeking a dual listing in Hong Kong
Aug 26, 2022 (WiC 597)

Can Lei Jun be counted on to win his wagers? On the surface, the Xiaomi founder does not have a great track record. In 2013, he famously bet Gree chairwoman Dong Mingzhu Rmb1 billion ($150 million) that his consumer electronics and smart ...

Seoul mates

US legislation aims to hamstring China’s progress in semiconductors
Aug 19, 2022 (WiC 596)

In the late nineteenth century a 15 year-old girl called Annie Oakley won a $100 bet with a much older man over which of them was the better sharpshooter. The competition was celebrated in the Irving Berlin song Anything You Can Do (I Can Do ...

Wise up

Unigroup’s former chairman reportedly detained
Jul 29, 2022 (WiC 595)

Back in 2015 every industry insider suspected the most influential ‘investment fund’ in the semiconductor sector was Tsinghua Unigroup. Starting life as a state-owned enterprise under Tsinghua University, alma mater of Chinese President Xi ...

Cambridge intelligence

Chinese AI firms in spotlight as AISpeech looks to IPO
Jul 29, 2022 (WiC 595)

It has been nearly four years since the launch of Lee Kai-fu’s widely read book on superpower rivalry in artificial intelligence. As a theme, it has rarely been out of the headlines since then. A former executive at Google, Microsoft and ...

Database demand

The ‘Chinese Oracle’ looks to list in Shanghai
Jul 22, 2022 (WiC 594)

In early July Shanghai’s STAR Market approved the IPO of China’s first homegrown database firm, Wuhan Dameng. The listing represents another milestone in China’s journey for tech independence. Databases are the back offices that help to ...

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