What’s the most effective way for a company to reverse its business decline? Perhaps it’s not about pouring money or piling up manpower, but rather changing personnel and adjusting strategies. In February, when Meituan decided to replace Zhang Chuan with Wang Puzhong as president of its in-store business unit, the outside world understood that the Chinese giant had opted for a different approach to compete with Douyin. Wang’s appointment came at a crucial juncture. Prior to this change, Meituan’s stock price had rarely fallen below its IPO price, nearing HKD 60 (USD 7.6) per share, but after ..read more

On April 19, Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC), concluded a delegation’s visit to New Zealand. The visit, marked by the delegation’s participation in the New Zealand-China Business Assembly Forum and a roadshow for the second China International Supply Chain Expo (CISCE), resulted in the signing of several agreements, including a memorandum of cooperation and letters of intent for participation in the upcoming expo this November. Comprising over 80 delegates from the CCPIT, region ..read more

On April 8, the Maritime and Port Authority of Singapore (MPA) commenced the country’s first pilot trial for an electric harbor craft charging point. Alongside other recent advances in maritime electrification, it marks another important step toward the city-state’s target of net zero emissions by 2050. Located at Marina South Pier, the new charging point features a 150-kilowatt charger with an estimated battery capacity of 500 kilowatt-hours, enabling a charging time of about three hours for an operational range of around 50 nautical miles (92.6 kilometers). … Visit Website The post Electric ..read more

At the outset of 2024, an atmosphere of overcapacity pervaded the entire new energy sector: reports of layoffs, salary reductions, and price wars occasionally surfaced from the photovoltaic, energy storage, lithium battery, and new energy vehicle industries. Established players were scaling back, while newcomers aggressively pursued cost-cutting measures, and some cross-industry participants even exited the market. Against this backdrop, Sany Group, a cross-industry newcomer and leader in engineering machinery, expanded against the prevailing tide, persistently placing strategic bets while it ..read more

Illuminate Financial leads USD 6.5 million investment in Accacia Accacia, a real estate-focused carbon accounting platform, has completed a USD 6.5 million pre-Series A funding round. The round was led by Illuminate Financial and saw participation from AC Ventures as well as early investors Accel and B Capital. Established in 2022, Accacia provides an artificial intelligence-powered software-as-a-service platform designed to assist real estate managers, owners, and developers in monitoring their carbon emissions as part of broader decarbonization strategies. … Visit Website The post Deals in ..read more

A joint venture between China’s leading ride-hailing app Didi Global and Guangzhou Automobile Group’s (GAC) electric vehicle unit plans to mass produce robotaxis next year. Didi and GAC Aion New Energy Automobile established the 50-50 venture named Andi Technology in late March, and authorities recently granted it a business license, Didi said on April 7. … Visit Website The post China’s Didi, GAC to roll out self-driving EV robotaxis appeared first on KrASIA ..read more

Teamsek Trust entities fund five startups under Amplifier program The Centre for Impact Investing and Practices (CIIP) and Philanthropy Asia Alliance (PAA), ecosystem entities of Temasek Trust, have jointly announced the first cohort of mentees for its Amplifier mentorship program. Organized to nurture commercial viability in impact-focused startups and scale their impact in Asia, the program will provide each of the five startups with up to SGD 250,000 (USD 183,600) of catalytic funding, financed with the support of the Mastercard Center for Inclusive Growth, the program’s impact innovation ..read more

Chinese electric car manufacturer Hozon Auto is gearing up to unveil its latest offering, the Neta L, at the upcoming Auto China 2024 event in Beijing. Joining the brand’s lineup of electric vehicles, the Neta L aims to make a splash in the competitive electric sport utility vehicle (SUV) segment with its practical features and modern design. Boasting a sleek exterior design, the Neta L measures 4.77 meters in length, 1.9 meters in width, and 1.66 meters in height, with a wheelbase of 2.81 meters. Targeting young families, its interior includes a television, refrigerator, and sofa—a unique co ..read more

On a chilly night in late February, 24-year-old tech worker Emma decided to kill herself. Scared of pain, she chose to drown herself in a river in the city of Hangzhou. The freezing water made her shiver all over, but she continued slowly walking forward. Then, she thought of her disabled father, who depends on her financial support every month. … Visit Website The post China’s tech workers trapped in jobs by noncompete contracts appeared first on KrASIA ..read more

As of the outset of 2024, the battleground for new energy vehicles has grown increasingly intense. In this highly scrutinized market, under the spotlight, the appearance of anyone on stage seems almost routine to the audience. It’s no longer surprising who enters the fray of car manufacturing, nor is it uncommon for someone to suddenly exit, leaving chaos in their wake. Spectators enjoy the show, while users who stumble upon pitfalls lament their luck. This phenomenon is not hard to grasp. The new energy sector is still in its early stages of development, primarily driven by product innovatio ..read more