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Fintech News – Page 2 – FintekAsia

Chinese Online Education Start-Up Huohua Siwei Nets $85M For AI Development


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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…

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BAI Leads Nearly $28M Series B Round In Chinese Online Children Education Platform


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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…

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Five Remarkable Facts From Chinese AI Unicorn Megvii’s IPO Prospectus


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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


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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


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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 …

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China Minsheng Investment To Restructure After Several Technical Defaults


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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…

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Chinese EV Maker NIO Begins New Round of Layoffs Amid Struggling Sales


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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…

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Fresh Capital Leads $20M Series B Round In Chinese Social E-commerce Start-up


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Chinese social e-commerce platform Wanwu Xinxuan has raised US$20 million in a series B round of financing led by the country’s consumer sector-focused venture capital firm Fresh Capital, shows information updated on Chinese business data provider Tian…

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Chinese NPL Investment Firm Goes Bust With Billions At Stake, Executives Arrested


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In a sign of the challenges facing the distressed debt market in China, a Chinese investment firm in the non-performing loans market is in deep financial distress with billions of its asset-under-management in danger of significant losses. Its executiv…

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Tencent Leads $28M Series B Round In Chinese Wealth Management Start-up Xiaobangguihua


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Xiaobangguihua, a Beijing-based wealth management consulting service provider, has raised RMB200 million (US$28.4 million) in a series B round of financing from Chinese tech giant Tencent Holdings, according to a statement released on Monday.
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