Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to beings in the rest of the world. This week, “were having” various heavy-hitting rumors twirling around, from Huawei’s chips for vehicles to Tencent’s potential buyout of its video challenger iQiyi.
Pottery tech at home
Huawei’s foray into autos
Huawei might be bringing the technology behind its Kirin smartphone processor into cars. According to Chinese tech publishing 36Kr, Huawei has signed a tactical is working with domestic electric car monstrous BYD, which would be using the Kirin chips to digitize the “cockpits”( generally refer to the moves’ huts) in its cars.
The Kirin chips are developed by Huawei’s semiconductor subsidiary HiSilicon to hedge against U.S. sanctions and become self-sufficient in core smartphone engineerings. What’s noticeable is that BYD, backed by Warren Buffet, had previously announced to adopt Qualcomm’s Snapdragon automotive microchips in its electric vehicles, a partnership that was set to begin in 2019. Could the potential collaboration with Huawei be part of BYD’s move to decrease reliance on imported engineerings?
BYD said it” does not have information to disclose at the moment ,” while Huawei refuses to comment on the rumor.
The potential confederation would not be all that startling given the duo has already been working together closely. In March 2019, the companies, both Shenzhen-based, unveiled a strategic partnership to apply Huawei’s AI and 5G engineerings in BYD’s alternative vigour vehicles and monorails.
More big moves from BYD — the automaker is hastening to become self-sufficient in the production of electric vehicles. After elevating a 1.9 million yuan ($ 270 million) Series A in late May, its chipmaking affiliate BYD Semiconductor ended another 800 billion yuan ($ 113 million ) Series A+ round the coming week, apparently due to investors’ gigantic interest in getting involved in the only Chinese company capable of reaching the core chip part of electric cars called segregated entrance bipolar transistors, or IGBTs.
ByteDance usurps on Tencent’s turf
ByteDance exactly paid 1.1 million yuan ($ 160 million) for a big plot of land to build powers in the heart of Shenzhen’s Nanshan district, according to public information disclosed by the government. Shenzhen is home to multiple Chinese tech blue-chips, including Tencent, Huawei and DJI. It also houses the China agencies of foreign retail monstrous such as Lazada and Shopify, given the city’s rich manufacturing and logistics resources.
That renders ByteDance, the mother of TikTok, a significant presence in Tencent’s backyard. ByteDance is known to have aggressively enticed aptitudes from the entrenched tech trio of Baidu, Alibaba and Baidu by offering lucrative parcels. Being in Shenzhen will no doubt give the company more access to Tencent’s expertise pool.
This may help it in its push into video gaming, an orbit that has long been dominated by Tencent, the world’s biggest competitions publisher. Meanwhile, the world’s second-largest plays company — NetEase — is right next door in Guangzhou, an hour’s drive away from central Shenzhen.
Shakeup in video streaming
Reuters reported this week that Tencent has approached Baidu to become the biggest shareholder in iQiyi, the video streaming giant controlled by Baidu. Tencent’s video pulpit rivals neck to neck with iQiyi to churn out variety shows and dramas that will convince Chinese publics is payable for online content.
Both companies are bleeding coin on video creation. IQiyi, which removed from Baidu to list on Nasdaq, increased its net loss to 2.9 billion yuan ($ 406.0 million) in Q1 this year, up from 1.8 billion yuan the year before. Selling iQiyi to deep-pocketed Tencent may further ease the financial burden on Baidu, which is busy coping with ByteDance’s threat to its core pushing business. Both Tencent and iQiyi declined to comment on the report.
Robotics startup Geek+ elevates $200 million
Geek +, a startup that specializes in drawing logistics robots that are analogous to those of Amazon’s Kiva machines, exactly closed a substantial Series C round. The firm is one to watch as retail companies in China and North America are increasingly looking to automate their warehouses.
Pottery tech abroad
China’s gay dating app Blued runs public on Nasdaq
Despite limited support for LGBTQ communities in China, Blued, a Chinese app used by millions of gay someones, has been softly blossoming over the past few years and is eyeing to raise $ 50 million from a U.S. initial public offering .
JD’s long-awaited secondary roll is here. The online retailer’s shares rose 5.7% to HK $239 ($ 30.8) on its first day of trading on the Hong Kong Stock Exchange. Several U.S.-listed Chinese corporations have filed to list in Hong Kong because of a new bill that will impose more investigation on Chinese firms trading on the U.S. stock markets.