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Briefing Oct 22, 2020 07:32 pm EqualOcean

Baidu Plans to List in Hong Kong by the End of the Year

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Oct 27, 2020 01:23 pm ·

Baidu Leads CNY 1.3 Billion Investment in Geely ECARX

Vehicle intelligence technology provider ECARX has announced receipt of a CNY 1.3 million round A financing. The investment was led by Baidu and followed by SIG. ECARX’s estimated value after the financing is now CNY 10+ million. Invested in by Geely, ECARX is an independent operating subsidiary that focuses on connected vehicles and smart cockpits. Its smart cockpit product matrix includes 5G connectivity, in-vehicle multimedia system, voice assistance, etc. The intelligent vehicle products integrate various sensors with high precision map technologies. ECARX’s customized in-vehicle system for Geely – GKUI – has more than 2.2 million users.  ECARX is also collaborating with tech giants like Alibaba, Huawei, and Baidu, and is now the leading player in vehicle intelligence. After gaining support from Baidu this time, ECARX will have a closer connection with Apollo, which brings ECARX more support in autonomous driving system development. The round A funding will be mainly used for the R&D of autonomous driving chips, high precision maps, and other autonomous driving technologies. ECARX plans to found an R&D center in Europe to serve the local market. According to CEO Ziyu Shen, ECARX’s goal is to provide autonomous driving chips to Geely before 2024. With a higher R&D budget and more tech giant shareholders, ECARX is expected to be more independent to Geely and will serve more automobile manufacturers with vehicle intelligent platforms.

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Oct 26, 2020 05:50 pm ·

Baidu to Acquire YY.com's Domestic Business, Sources Say

According to Chinese media, Baidu's negotiation to acquire YY.com's domestic business is close to completion. YY.com's overseas business is not within the transaction and continues to operate independently. YY.com declined to comment. YY.com is a major Chinese video-based social network, a subsidiary of JOYY. JOYY Inc., formerly YY Inc., is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The company's segments include YY IVAS and others, Huya broadcasting, and 100 Education. In a corollary to ByteDance's continuous invasion of the search-engine business, Baidu is also constantly showing its ambitions in the short video and live broadcast field. In the first half of 2020, Baidu announced that live broadcast and video would be important directions in 2020. In April, Baidu announced that it would launch an e-commerce live broadcast. In terms of short videos, Song Jian, the former head of the Xigua Video, joined Baidu in early September. Nowadays, ByteDance’s Douyin, Alibaba’s Taobao live broadcast and Tencent’s Douyu all pose threats to Baidu, indicating that for Baidu, YY, which is relatively independent and has its strength, is undoubtedly a potential alliance target. In the 1Q 2020, YY Live broadcast continued to occupy the domestic entertainment live broadcast platform's top position with a scale of 41.20 million active users. The number of active users of Huajiao Live, which ranked second, is only 5.52 million. At the same time, YY.com's domestic business has been somewhat weak due to its focus on overseas markets. In August 2020, JOYY’s Q2 financial report showed that the global monthly active users were 457.1 million, and overseas users accounted for 91%, implying that selling domestic business to Baidu may be a win-win option.

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Oct 15, 2020 05:43 pm ·

Baidu App Launches "Shopping" Channel

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Nov 3, 2020 05:15 pm ·

Sony Acquires Bilibili's 4.98% Stock Share

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Oct 27, 2020 06:53 pm ·

Tencent's Stock Price Reaches a Record High

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