Tag: yuan
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Kuaishou’s Kling AI unit completes a near $3 billion funding round
Oct 30 : Tencent-backed Kuaishou Technology said on Friday that its unit Beijing Kling has completed a fundraising round of about 19.8 billion yuan ($2.98 billion).The short-video platform operator will hold two-thirds of the equity and 52.45 per cent of voting rights in the Kling AI maker through its Lucky L
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BYD’s third-quarter profit growth slows, falling short of forecasts
BEIJING, Oct 29 : Chinese electric vehicle maker BYD reported a smaller-than-expected 28 per cent rise in third-quarter profit on Thursday, though strong export growth helped offset persistent weakness in its home market.Net profit rose to 10 billion yuan ($1.50 billion) in the third quarter, a stock filing s
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China unveils rate cut, mortgage subsidies to spur growth
BEIJING: China unveiled measures on Tuesday (Sep 29) designed to steer cheaper credit into a range of sectors including infrastructure and technology, as well as expanding support for home buyers, in a fresh bid to shore up its slowing economy.The measures were announced a day after the cabinet pledged to ste
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Tencent-backed Enflame surges 188% in Shanghai debut after $912 million IPO
HONG KONG/SHANGHAI, Sept 11 : Chinese artificial intelligence chipmaker Shanghai Enflame Technology opened 188 per cent higher in its Shanghai debut on Friday, after the Tencent-backed company raised 6.12 billion yuan ($912 million) in its initial public offering.The stock opened at 410 yuan versus its offer
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Tencent Q2 revenue climbs 11% on AI-driven ad gains, but profit falls short
BEIJING, Aug 12 : Tencent Holdings reported an 11 per cent rise in second-quarter revenue on Wednesday, driven by strong advertising sales and steady gaming income, as the Chinese technology giant ramps up AI spending.For the three months to the end of June, the Shenzhen-based gaming and internet company repo
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China chipmaker CXMT’s shares surge 470% in Shangai trading debut
SHANGHAI: Shares of CXMT Corp surged nearly 470 per cent at their Shanghai debut on Monday (Jul 27) after Asia’s biggest IPO this year, catapulting the chipmaker to the top of China’s stock market by valuation despite a recent selloff in global tech stocks.The stock began trading at 49.50 yuan compared to its
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Nvidia supplier King Yuan Electronics to invest up to $1.4 billion in US facility
TAIPEI, July 10 : Taiwanese chip-testing company King Yuan Electronics (KYEC) plans to invest up to $1.4 billion to establish a facility in the United States, the supplier to chipmaker Nvidia said on Friday.King Yuan Electronics said the investment is intended to support operational growth and strengthen its
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China official who received $325m worth of bribes sentenced to death
The 69-year-old helped companies secure valuable contracts in exchange for money, a court heard.
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Deep-sea denizens go years without food with clever biological fix
June 19 : A pill bug dwelling under a garden pot curls its body into a tiny armored ball as self-defense. Far below the ocean surface, some of its much larger relatives face a harder problem: how to stay alive when the next meal may not come for years.Those creatures are called deep-sea isopods, a…
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