China Tech Digest: Huawei Says It Won’t Make EVs, SenseTime Rumored To Seek A+H Listings

Huawei says it will not to build cars but will help car companies build better cars

Reuters reported that Huawei plans to make EV under its own brand and could launch some models this year, citing four insiders who know the matter directly. It says that Huawei is in talks with Changan Automobile and other automakers to use their car plants to make EVs. Huawei is reportedly in discussion with BAIC Group’s BluePark New Energy Technology to make its EVs.

Regarding the report, which has been circulating for some time, Huawei responded that the company’s strategy remains unchanged: Huawei does not want to build cars, but it will focus on ICT technology and aims to become a supplier of components to smart cars to help them build better cars.

Chinese AI firm SenseTime says no comment to reports of its plans to do A+H share dual listings

SenseTime reportedly has launched A+H share duel listing plans and will submit the forms in the second half of the year. SenseTime says that it has no comment.

NIO lidar supplier Innovusion will receive 60 million US dollars in financing, plans IPO in the second half of the year

Innovusion, a lidar supplier to Chinese EV maker NIO, will complete a new round of US$60 million in financing, with a valuation of US$300 million. Institutions such as Temasek, Bertelsmann Asia Investment Corporation and Joy Capital will participate in this round of financing. The company plans to list during the second half of the year.

MIIT: Support enterprises to continuously improve integrated and strengthen circuit supply capacity

Today, Qiao Yueshan, Director of the Electronic Information Department of the Ministry of Industry and Information Technology, stated that the Ministry of Industry and Information Technology and other departments plan to issue manual documents to support enterprises to continuously improve the supply capacity of integrated circuits, strengthen supply chain construction, and increase capacity allocation.

The manual contains 568 products from 59 semiconductor companies, covering 10 categories such as computing chips, control chips, and power chips. It also contains 1,000 product demand information from 26 auto and parts companies.

Italy approves Tencent to invest in local payment companies

The Italian government recently approved Tencent and the US mobile payment company Square to invest in the Italian financial technology startup Satispay. It is reported that this is Tencent’s third overseas investment in the financial sector this year. Last month, Tencent participated in the investment in Brazilian financial technology giant Nubank and the German smart insurance product purchase platform ClarkGermany.

Huawei HiSilicon’s next-generation 5G baseband chips have been taped out and integrated into the next-generation Kirin SoC

Huawei HiSilicon’s next-generation 5G baseband chips have been taped out and integrated into the next-generation Kirin SoC, according to some insider who shared on Chinese social media. There is no information about who was the partner for chip manufacturing.

NetEase CEO Ding Lei bombarded China Android for taking high revenue shares

NetEase CEO Ding Lei bluntly stated during an earnings call that China’s Android channel is the most expensive in the world. He believes that the current ecosystem is unhealthy because it is about 20% more expensive than Apple’s revenue share.

"We hope that in the future, other Android markets can be in line with international standards in game sharing. Now, even overseas, the revenue share taken by Android is only 30%. There is no reason for these Android channels to take 50%. This is very detrimental to the industry and I hope that the entire industry can develop a healthy ecosystem together."

ANE Logistics is considering a US$500 million Hong Kong IPO

Chinese logistics firm ANE Logistics is considering a $500 million Hong Kong IPO.

Caishen.Co - Primary Data for China Secondary Investment and Stock Markets
Caishen.Co - Primary Data for China Secondary Investment and Stock Markets