Naphjas Inc. |

19 Mar Chinese flying taxi maker EHang sells autonomous passenger drone for US$332,000 on Taobao as nation’s low-altitude economy takes off

Posted at 12:00h in Asia

The ambitious domestic and international marketing campaigns show EHang’s confidence in generating strong market demand, months after its self-developed EH216-S became the world’s first recipient of a Type Certificate and Standard Airworthiness Certificate for pilotless eVTOLs. Those certifications were issued last October and December, respectively,...

19 Mar Xiaomi’s sales beat estimates after smartphone recovery and as firm prepares to take on China’s EV market

Posted at 10:32h in Asia

Xiaomi posted better-than-expected revenue growth after the smartphone market showed signs of life during the holiday quarter, spurring hopes of an end to a years-long electronics slump.The Beijing-based firm reported an 11 per cent rise in sales to 73.2 billion yuan (US$10.2 billion) in the...

19 Mar Ant Group restructures part of its businesses into units, promotes veteran finance chief as president to spur growth

Posted at 10:32h in Asia

Developing | Ant Group restructures part of its businesses into units, promotes veteran finance chief as president to spur growthAnt Group will restructure part of its operations into several independently run business units and promote its finance chief to oversee what China’s dominant electronic payments...

19 Mar Chinese tech giant Lenovo boosts AI efforts with new servers, professional computers powered by Nvidia GPUs and software

Posted at 10:30h in Asia

Lenovo Group has unveiled a series of servers and computers powered by technology from US chip designer Nvidia, in the Chinese computer giant’s latest push to bring artificial intelligence (AI) solutions to businesses and cloud service providers.Lenovo said it has added two new Nvidia graphics-processing-unit...

19 Mar HSBC, Hong Kong’s science park sign 3-year partnership to drive fintech development

Posted at 09:15h in Asia

The two entities signed a three-year agreement on Monday to leverage their resources, expertise and networks to foster collaboration. The partnership is the first “public-private cooperation between the city’s largest innovation and technology ecosystem and leading global bank”, the companies said on Tuesday.“Bank-fintech partnerships unlock...

19 Mar Debt-stricken Sino-Ocean warns of hefty losses amid plunge in home sales as turnaround eludes Chinese developers

Posted at 08:07h in Asia

Debt-stricken Chinese developer Sino-Ocean Group said it is likely to report another year of hefty losses in 2023 as home sales in mainland China plunged, signalling no immediate turnaround in the nation’s three-year industry slump.The firm expects to incur a loss of 20 billion yuan...

19 Mar As pandemic, geopolitical tensions took their toll, China’s affluent families saw wealth and numbers decline, Hurun report says

Posted at 07:45h in Asia

The number of rich families in China declined for the second time in 15 years as the world’s second-largest economy tackles a slew of economic challenges.As of January last year, the number of affluent Chinese families with 6 million yuan (US$833,484) in assets had dropped...

19 Mar Fidelity International plans to cut 16% of China fund unit jobs amid a deepening market rout, sources say

Posted at 07:39h in Asia

Fund manager Fidelity International (FIL) is planning to lay off 20 people at its main China unit, two sources familiar with the matter said, a reduction that coincides with a downturn in China’s markets and as the firm cuts staff worldwide.The cuts at FIL’s wholly...

19 Mar Opinion | US TikTok hysteria pushes key questions about the app to the margins

Posted at 07:30h in Asia

As we wait to see whether the Senate will do the same, we’re treated to the full spectrum of hypocrisy that the “China threat” induces in American politicians.Let’s examine this starting at the top, with US President Joe Biden, who has said he would sign...

19 Mar Nvidia expands ties with Chinese EV makers including BYD, Xpeng, as auto AI race heats up

Posted at 06:40h in Asia

Nvidia said on Monday it is expanding its collaborations with BYD and other Chinese carmakers that are racing to build self-driving vehicles and AI-augmented infotainment technology to compete in global markets.BYD, which overtook Tesla last year as the world’s top electric vehicle manufacturer, will use...

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