• BYD reports stronger Q3 growth than competitors

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    ShenzhenPress

    ShenzhenPress (Shenzhen)—BYD reported growth a gross margin of 22.75% in the third quarter of 2022. This is significantly stronger than its competition, including Changan (17.4%), SAIC (9.6%), GAC (4.6%), and Huawei-backed Seres (-57.3%).

    Major automakers are struggling with rising lithium prices and price war. Lithium carbonate prices have jumped nearly 80% since the start of the year, crossing the threshold of RMB 500,000 (USD 68,775) on September 13.

    The Chinese government will phase out EV purchase subsidies end of the year. This could see the price war intensify as experts predict price reductions as the automakers fight for market share, a move that would further impact short-term profitability.

    Shenzhen-based BYD reached an estimated RMB 10,000 profit per unit sold in the third quarter this year, almost double of the estimated RMB 6,400 in the second quarter.

    Net profits of RMB 5.7 billion in the third quarter is a 350% year-on-year increase compared to 2021. In comparison, Tesla reported USD 3.3 billion in net income in the same quarter.

    BYD posted sales of RMB 117 billion (USD 16.1 billion) for the third quarter, a 116% year-on-year increase compared to 2021.

    Source: TechNode

  • DeepRoute.ai

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    ShenzhenPress

    DeepRoute.ai

    DeepRoute.ai

    English name: DeepRoute.ai
    Chinese name: 元戎启行

    Founded: 18 February 2019
    Founder: Pan Fuying
    Headquarters: Shenzhen, Guandong
    Key people: Pan Fuying
    Websites: www.deeproute.ai, www.deeproute.cn
    Encyclopaedic information: Baidu Baike

    Shenzhen Deeproute.ai Co, Ltd is an international self-driving vehicle technology provider focused on developing Level 4 autonomous driving technologies. 

    DeepRoute was founded by a highly experienced team with a track record of technological innovation in multiple companies, including Google, Microsoft, and Ford. The company operates out of research centers located in Shenzhen and Beijing.

    Articles about DeepRoute.ai

  • Shenzhen is China’s robotaxi capital as DeepRoute.ai starts public trials

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    ShenzhenPress

    Shenzhen News (Shenzhen)—DeepRoute.ai on Monday launched its robotaxi service trial in Shenzhen with a fleet of 20 self-driving taxis. The cabs will be monitored by safety drivers and will start to take passengers around the central business district of Futian.

    The company said in a statement that it has received a permit to run trials the city, making it the first officially robotaxi program open to public in Shenzhen. The service is free of charge and is open to adult passengers who have applied for an invitation code. The robotaxis will run between 100 designated pick-up and drop-off locations, with the routes covering 200 kilometres of roads in the Futian district.

    Shenzhen has become as China’s robotaxi capital with a growing fleet of autonomous driving vehicles and over 800 startups in the city. The industry is supported by the government that is drafting regulations for self-driving cars.

    The regulations are expected to cover road testing, operation permits, accidents, traffic violations, and legal lability.

    Autonomous vehicle startup AutoX announced in January 2021 its launch of self-driving robotaxis trial to the public in the Pingshan district. However, the Shenzhen government said it had not granted a permit to AutoX.

    Search giant Baidu launched a public robotaxi service in Beijing last year, and became China’s first paid self-driving taxi service in May in an enclosed venue for the 2022 Winter Olympics. The service is not available in the public streets of Beijing.

    DeepRoute.ai is an international, full stack, Level 4 self-driving solution provider with its China headquarters in Shenzhen, and its US headquarters in Fremont, California.

  • Naiyuki poised for US$657 million Hong Kong IPO

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    ShenzhenPress

    Shenzhen News (Shenzhen)—Naiyuki Holdings Limited is seeking to raise HK$5.1 billion (US$657 million) from an initial public offering in Hong Kong.

    The Shenzhen-based company is selling 257 million new shares at HK$17.20 to HK$19.80 ($2.22 to $2.55) apiece, according to its prospectus filed with the Hong Kong Stock exchange. The company plans to price the offering on 23 March, and then list on the exchange on 30 June.

    According to the filing, 10% of the shares would be sold in Hong Kong and 90% globally. The company has an option to sell as much as 15% more shares in oversubscription. The share sale attracts five cornerstone investors agreeing to subscribe a total of US$155 million in stock or 25% of the offering, based on the mid-point of the price range. They are UBS Global Asset Management, China Universal Asset Management Co Ltd, GF Fund Management, China Southern Asset Management Co Ltd and CCB International (Holdings) Ltd.

    JPMorgan, CMB International Capital Corp and Huatai International Financial Holdings Ltd are co-sponsors of the deal.

    The company plans to use 70% of the proceeds to open new stores in the next three years, 10% to enhance technical capabilities such as digitisation of operations, 10% to enhance supply chain and channel building capabilities, and the rest for working capital and general business purposes. The company plans to open 650 new stores by 2022, more than doubling its 556 outlets in 70 Chinese cities as of the end of May, according to the prospectus.

    Founded in 2015, Naiyuki has more than 422 stores across 51 cities in China. It is the first unicorn in China’s tea chain sector. It generated revenue of CN¥3 billion (US$465 million) and a net loss of CN¥203 million (US$31.5 million) in 2020.

    The company says it accounts for 18.9% of China’s premium freshly made tea beverage market, ranking second behind HeyTea, which is reportedly seeking to raise US$400 million to US$500 million in an IPO in Hong Kong before the end of 2021.

    Naiyuki raised a Series C funding of over US$100 million in December to bring the company’s value to nearly US$2 billion.

  • HAI ROBOTICS

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    ShenzhenPress

    HAI ROBOTICS

    English name: HAI ROBOTICS
    Chinese name: 海柔创新

    Founded: 2016
    Founder: Riche Chen, Xu Shengdong
    Headquarters: Shenzhen, Guandong
    Key people: Riche Chen (co-founder & CEO), Xu Shengdong (co-founder & CTO), Prof Li Zexiang (Chief Advisor)
    Websites: www.hairobotics.com
    Encyclopaedic information: Baidu

    HAI ROBOTICS Co, Ltd is a Chinese robotics company headquartered in Shenzhen, Guangdong. It develops advanced robotics and AI algorithm to help customers optimise warehousing operations. It provides efficient, smart, flexible and customised warehouse automation solution, and one-stop services. 

    Articles about HAI ROBOTICS

  • HAI ROBOTICS named Best Intralogistics in IFOY Award 2021

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    ShenzhenPress

    Shenzhen News (Shenzhen)–HAI ROBOTICS, the pioneer in autonomous case-handling robotic systems (ACR systems) and Shenzhen-based information and communication technology (ICT) powerhouse in China, has received two “Best Intralogistics” certificates from the world-renowned Intralogistics and Forklift Truck of the Year (IFOY) Award 2021 for its HAIPICK ACR solutions.

    The IFOY Award is largest and toughest intralogistics tests in the world, and is one of the most significant awards in the material handling industry worldwide. The Award honours the year’s best products and solutions.

    The HAIPICK A42T is the world’s first telescopic lift autonomous case-handling robot (ACR), enabling intelligent “goods-to-person” order picking and covering an ultra-wide picking range from 0.25 metres to 6.5 metres. The HAIPICK A42N is the world’s first autonomous carton-picking ACR to enable mixed picking of cartons and totes of different sizes.

    HAI ROBOTICS has been developing AI-powered ACR systems since 2015 and has been a leader in the field with best-in-class intelligent goods-to-person solution and smart in-plant logistics solution. By using the HAIPICK systems, customers can realize warehouse automation transformation in a week, increase storage density by 80%-130%, and improve operational efficiency by 3-4 times compared to manual operations.

    In March 2021, HAI ROBOTICS secured its series B+ round funding of nearly $15 million led by 5Y Capital, with participation from existing investors Source Code Capital and Walden International. The funding does not only confirm, from the investors’ perspective, the success and leading position of the ACR pioneer, but also fuels the company’s R&D, operational capabilities and business expansion.

  • Huawei

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    ShenzhenPress

    Huawei

    English name: Huawei
    Chinese name: 华为

    Founded: 1987
    Founder: Ren Zhengfei
    Headquarters: Shenzhen, Guandong
    Key people: Ren Zhengfei (founder & CEO), Liang Hua (chairman), Meng Wanzhou (deputy chairwoman & CFO)
    Websites: www.huawei.com
    Encyclopaedic information: Wikipedia, Baidu

    Huawei Technologies Co, Ltd is a Chinese multinational technology company headquartered in Shenzhen, Guangdong. It designs, develops, and sells telecommunications equipment and consumer electronics.

    Established as in 1987, the company was founded by Ren Zhengfei to build a domestic Chinese telecommunication company that could compete with, and ultimately replace, foreign competitors.

    The company’s first major breakthrough came in 1993 when it launched its C&C08 program controlled telephone switch. It was by far the most powerful switch available in China at the time. By initially deploying in small cities and rural areas with emphasis on service and customisability, the company gained market share and made its way into the mainstream market. It subsequently expanded overseas with contracts to supply telecommunications equipment in many countries.

    In July 2003, Huawei established their handset department and by 2004, Huawei shipped their first phone, the C300. The U626 was Huawei’s first 3G phone in June 2005 and in 2006, Huawei launched the first Vodafone-branded 3G handset, the V710. The U8220 was Huawei’s first Android smartphone and was unveiled in MWC 2009. 

    In July 2010, Huawei was included in the Global Fortune 500 2010 list published by the US magazine Fortune for the first time, on the strength of annual sales of $21.8 billion and net profit of $2.67 billion.

    In September 2012, Huawei launched their first 4G ready phone, the Ascend P1 LTE. At MWC 2013, the Ascend P2 was launched as the world’s first LTE Cat4 smartphone. In December 2013, Huawei introduced Honor as a subsidiary independent brand in China.

    Huawei announced its first Android Wear-based smartwatch the Huawei Watch, at 2015 Mobile World Congress on 1 March 2015. In 2016, Huawei entered the laptop markets with the release of its Huawei MateBook series of laptops. The HUAWEI MatePad Pro tablet, launched in November 2019.

    Huawei is the second-biggest smartphone maker in the world, after Samsung, as of the first quarter of 2019.

    Articles about Huawei

  • Huawei gains mobile payments license by acquiring Xunlian

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    ShenzhenPress

    Shenzhen News (Shenzhen)—Shenzhen-based tech giant Huawei has acquired a mobile payments license in China after buying Shenzhen Xunlian Zhifu Network from Shanghai Wo Rui Ou Information Technology Co, Ltd.

    Founded by Shenzhen-based telco giant ZTE, Xunlian was spun-off into a standalone company. It was licensed to provide payment services via its website or mobile phone nationwide through its Xunlian Zhipay service. Shanghai Wo Rui Ou purchased Xunlian from ZTE for RMB 382.5 million in August 2016.

    Huawei has been in the mobile payment sector for years. Launched in 2016, its Huawei Pay app allows Huawei phone owners to pay for goods online and offline. The app uses near-field communication, a technology that is not widely used in China.

    Without a mobile payment license, Huawei has previously been using UnionPay’s mobile payment service.

    A Huawei spokesperson said, “Huawei made this acquisition with the goal of offering a wider range of secure, easy-to-use smart services to enrich people’s digital lives in all possible scenarios.”

  • Linklogis

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    ShenzhenPress

    Linklogis

    English name: Linklogis
    Chinese name: 联易融

    Founded: 2016
    Founder: Charles Song
    Headquarters: Shenzhen, Guandong
    Key people: Charles Song
    Websites: www.linklogis.com, www.linklogis.com.hk
    Encyclopaedic information: Baidu

    Linklogis Digital Technology Group Co, Ltd is a Chinese supply chain financing service provider based in Shenzhen, Guangdong.

    Established as Shenzhen Qianhailian Yirong Financial Services Co, Ltd in 2016, the company is backed by Tencent Holdings, Standard Chartered Bank, Singapore sovereign wealth fund GIC, CITIC Capital, China Merchants Venture, Skyworth among other shareholders.

    Articles about Linklogis

  • Fintech Linklogis to file IPO for $1.1 billion

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    ShenzhenPress

    Shenzhen News (Shenzhen)—Shenzhen-based fintech Linklogis is looking to raise HK$8.28 billion ($1.1 billion) from an initial public offering in Hong Kong. Linklogis provides tech solutions for supply chain financing in China. The company is backed by Tencent and Standard Chartered Bank, and Singapore sovereign wealth fund GIC.

    Linklogis is selling 452.9 million shares at HK$16.28 to HK$18.28 ($2.10 to $2.35) apiece, Bloomberg reports. The company plans to price the offering on 31 March, and then list on the exchange on 9 April.

    According to the filing to the Hong Kong stock exchange on Friday, the share sale attracts six cornerstone investors agreeing to subscribe a total of $365 million in stock. BlackRock Inc and Fidelity will each buy $100 million in shares. Janus Henderson Funds, the Ontario Teachers’ Pension Plan Board, and Sequoia Capital China will each buy $50 million, while Singapore’s EDB Investments will buy $15 million.

    Goldman Sachs Group In. and China International Capital Corp are joint sponsors of the deal.