[ Chinese tech giant Baidu is in talks with investors to raise up to US$2 billion over three years for a biotech start-up, which will use artificial intelligence (AI) technology to discover new drugs and diagnose diseases, a person with direct knowledge of the matter said. A second person confirmed the start-up plan. Baidu is … Read more
[ Mountain park in Wuhan gets hi-tech upgrade with self-driving buses, vending vans and cleaning vehicles Life has largely returned to normal in the central Chinese city of Wuhan, where the Covid-19 outbreak was first identified a year ago. Now residents will soon have a new way to spend their free time following a hi-tech … Read more
[ The cases involve Alibaba’s past equity investments in major Chinese mall operator Intime, China Literature’s acquisition of film studio New Classics Media and SF Express-backed Shenzhen Hive Box’s acquisition of a smart locker rival in May. Although the companies failed to seek regulatory clearance, the deals were not deemed to be “excluding or restricting … Read more
[ Beijing-based Kuaishou Technology, the world’s second-largest video-sharing app, has won the green light from Hong Kong to raise roughly US$5 billion to US$6 billion, potentially the city’s largest IPO in over a year, a person familiar with the matter said on Friday. The company, in which Tencent Holdings, China’s largest games publisher, owns a … Read more
[ China’s leading search engine, Baidu, has entered the fray to take on Tesla and a clutch of domestic smart electric car makers through a new partnership with vehicle manufacturer Geely. Baidu, which already runs one of the world’s largest open autonomous-driving platforms, plans to use Geely’s production facilities and development capabilities to reinforce its … Read more
[ Tencent-backed Kuaishou Technology wrapped up the first mega IPO of the year on Friday. It set the final offer price at HK$115 per share, top-end of the range, after the short video platform set a record as the most oversubscribed deal ever in Hong Kong attracting retail investors’ demand totalling HK$1.28 trillion (US$164.8 billion), … Read more
