Hong Kong-listed Chinese shoemaker Fuguiniao Co Ltd announced on Monday that the authority has rejected and terminated its restructuring plan, leading to the bankruptcy of the once-renowned “king of leather shoes” in China.
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Chinese Shoe…
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CITIC Capital Backs Japanese Luxury Brands Platform In $34M Round For China Expansion
CITIC Capital, the flagship investment arm of Chinese financial conglomerate CITIC group, has participated in a JPY3.6 billion (US$34.02 million) new funding round in Reclo, a Japanese online re-selling platform for luxury brands.
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CITIC…
HiScene Nets $34M To Deploy AR In Smart Manufacturing, Public Security
HiScene, a Chinese augmented reality (AR) start-up serving companies including Baidu, Tencent and Alibaba, announced on Wednesday the completion of a series C funding round worth RMB250 million (US$34.93 million).
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HiScene Nets $34M To …
Chinese Online Education Start-Up Huohua Siwei Nets $85M For AI Development
Huohua Siwei, a Chinese online mathematics and science education platform, has closed US$85 million in a new funding round to power the development and deployment of artificial intelligence (AI)-enabled education technologies.
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Chinese O…
BAI Leads Nearly $28M Series B Round In Chinese Online Children Education Platform
Hexiaoxiang, a Chinese online children quality education platform, has raised RMB200 million (US$27.98 million) in a series B round of financing led by Bertelsmann Asia Investments (BAI), according to a statement released on Monday.
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BAI…
Five Remarkable Facts From Chinese AI Unicorn Megvii’s IPO Prospectus
Megvii Technology Limited, the operator of Chinese facial recognition platform Face++ and a big provider of facial recognition tech to companies and governments in China, is the first artificial intelligence (AI) unicorn in the country to go public.
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Chinese Autonomous Driving Unicorn Pony.ai Teams Up With Toyota
Chinese autonomous driving unicorn Pony.ai announced on Monday that it has teamed up with Japanese multinational automotive manufacturer Toyota on an autonomous driving pilot to speed up the development and deployment of autonomous vehicles.
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Alibaba-Backed Chinese AI Unicorn Megvii Eyes Hong Kong IPO
Chinese artificial intelligence (AI) unicorn Megvii, the developer of facial recognition software Face++ used widely across China, is filing documents for an initial public offering (IPO) in Hong Kong.
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Alibaba-Backed Chinese AI Unicorn …
China Minsheng Investment To Restructure After Several Technical Defaults
Five years after its establishment, China Minsheng Investment Co., Ltd. (CMIG) announced that it is going to restructure after a liquidity crisis. The company has suffered several technical defaults.
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China Minsheng Investment To Restru…
Chinese EV Maker NIO Begins New Round of Layoffs Amid Struggling Sales
Chinese electric vehicle start-up NIO is starting another round of layoff as its car sales have plummeted. Due to challenges of car quality, recalls, and dwindling sales, NIO will lay off 1,200 staff by the end of September. After that, its total numbe…