Hello there and welcome again to TechCrunch’s China Roundup, a digest of modern occasions shaping the Chinese tech landscape and what they suggest to persons in the relaxation of the environment. This 7 days, we have several significant-hitting rumors swirling all-around, from Huawei’s chips for autos to Tencent’s probable buyout of its video clip rival iQiyi.
China tech at property
Huawei’s foray into autos
Huawei may well be bringing the technologies guiding its Kirin smartphone processor into automobiles. According to Chinese tech publication 36Kr, Huawei has signed a strategic offer with domestic electric powered car big BYD, which would be utilizing the Kirin chips to digitize the “cockpits” (usually refer to the drivers’ cabins) in its cars and trucks.
The Kirin chips are made by Huawei’s semiconductor subsidiary HiSilicon to hedge from U.S. sanctions and come to be self-sufficient in core smartphone technologies. What’s visible is that BYD, backed by Warren Buffet, had formerly introduced to adopt Qualcomm’s Snapdragon automotive chips in its electrical cars, a partnership that was set to start out in 2019. Could the opportunity collaboration with Huawei be portion of BYD’s transfer to minimize reliance on imported technologies?
BYD mentioned it “does not have info to disclose at the second,” though Huawei declines to remark on the rumor.
The prospective alliance would not be all that shocking presented the duo has previously been doing the job together carefully. In March 2019, the organizations, equally Shenzhen-centered, unveiled a strategic partnership to use Huawei’s AI and 5G technologies in BYD’s different electricity vehicles and monorails.
Far more massive moves from BYD — the automaker is dashing to turn into self-ample in the creation of electric powered vehicles. After boosting a 1.9 billion yuan ($270 million) Sequence A in late Could, its chipmaking subsidiary BYD Semiconductor concluded an additional 800 million yuan ($113 million) Series A+ round this 7 days, seemingly owing to investors’ huge interest in acquiring concerned in the only Chinese business capable of generating the main chip portion of electric powered cars and trucks termed insulated gate bipolar transistors, or IGBTs.
ByteDance encroaches on Tencent’s turf
ByteDance just paid out 1.1 billion yuan ($160 million) for a major plot of land to build places of work in the heart of Shenzhen’s Nanshan district, according to community facts disclosed by the authorities. Shenzhen is house to many Chinese tech heavyweights, such as Tencent, Huawei and DJI. It also houses the China places of work of overseas retail giants these kinds of as Lazada and Shopify, supplied the city’s rich producing and logistics means.
That presents ByteDance, the mum or dad of TikTok, a substantial presence in Tencent’s yard. ByteDance is identified to have aggressively lured abilities from the entrenched tech trio of Baidu, Alibaba and Baidu by featuring valuable packages. Becoming in Shenzhen will no doubt give the business far more accessibility to Tencent’s expertise pool.
This may well assist it in its drive into video clip gaming, an space that has extended been dominated by Tencent, the world’s most significant game titles publisher. In the meantime, the world’s next-greatest video games company — NetEase — is right upcoming doorway in Guangzhou, an hour’s push away from central Shenzhen.
Shakeup in movie streaming
Reuters documented this 7 days that Tencent has approached Baidu to develop into the greatest shareholder in iQiyi, the movie streaming giant controlled by Baidu. Tencent’s online video system competes neck to neck with iQiyi to churn out assortment exhibits and dramas that will encourage Chinese audiences to spend for on line content material.
Equally corporations are bleeding dollars on video creation. IQiyi, which shed from Baidu to record on Nasdaq, widened its web loss to 2.9 billion yuan ($406. million) in Q1 this 12 months, up from 1.8 billion yuan the 12 months just before. Promoting iQiyi to deep-pocketed Tencent may perhaps even more relieve the economic stress on Baidu, which is fast paced coping with ByteDance’s danger to its core promotion business enterprise. Both Tencent and iQiyi declined to remark on the report.
Robotics startup Geek+ raises $200 million
Geek+, a startup that specializes in building logistics robots that are analogous to these of Amazon’s Kiva equipment, just shut a considerable Sequence C round. The corporation is one to check out as retail organizations in China and North The usa are ever more hunting to automate their warehouses.
China tech abroad
China’s gay dating app Blued goes general public on Nasdaq
Inspite of minimal assist for LGBTQ communities in China, Blued, a Chinese app used by millions of homosexual people today, has been quietly blossoming about the past several a long time and is eyeing to raise $50 million from a U.S. preliminary community giving.
JD.com goes community in Hong Kong
JD’s long-awaited secondary listing is below. The on the internet retailer’s shares rose 5.7% to HK$239 ($30.8) on its initially day of buying and selling on the Hong Kong Inventory Trade. Various U.S.-listed Chinese corporations have filed to listing in Hong Kong simply because of a new invoice that will impose additional scrutiny on Chinese companies trading on the U.S. inventory marketplaces.