China Knowledge is in the business of providing business solutions and products on China. Within the Group it has financial terminal, publishing, newswires, research, multimedia production and a wide range of consulting services offer to foreign businesses seeking opportunities in China.
Hong Kong’s Chong Mei Tobacco has injected USD 20 mln into a Chinese e-cigarette developer Bink, and will provide technical and resource support.
ByteDance-backed online education platform Gogokid is undergoing massive layoffs. Another ByteDance’s tutoring product aiKID has stopped operating for 4 months.
Chinese plastic surgery social network SoYoung Technology plans to issue 13 mln American depositary shares or 10 mln Class A common shares priced between USD 11.8 to USD 13.8 to raise at least USD 153 mln. According to their updated prospectus, the company achieved revenue of RMB 206 mln in Q1, up 81.8%.
Starbucks’ Chinese competitor Luckin Coffee files for US IPO and intends to list under the symbol “LK”. The company achieved revenue of RMB 480 mln while recorded a loss of RMB 530 mln in Q1.
Tencent-backed live-streaming platform Douyu has applied to list on the New York Stock Exchange under the symbol “DOYU” to raise up to USD 500 mln. In 2018, the company achieved revenue of RMB 3.65 bln, up 93.8%, and the gross profit was RMB 151mln.
Chinese TV producer Beijing Enlight Media releases their annual report. In 2018, the company generated revenue of RMB 1.49 bln, down 19.09% YoY. The net profit was RMB 1.37 bln, up 68.47% YoY.
Shanghai has announced as China’s first city to pilot 5G commercial use with 500 5G base stations. Shanghai municipal government signs a memorandum of strategic cooperation with China Unicom today, in which China Unicom promises to invest RMB 15 bln in the deployment of Shanghai’s 5G network by 2021.