In the first quarter of 2019, Xiaomi recorded RMB43.8 billion in revenue, representing an increase of 27.2% over the corresponding period of 2018. Profit for Q1 2019 grew to RMB3.2 billion and Adjusted Net Profit grew 22.4% year-on-year to RMB2.1 billion.
Pinduoduo’s GMV in the twelve-month period ended March 31, 2019 was RMB557.4 billion (US$2 83.1 billion), an increase of 181% from RMB 198.7 billion in the twelve-month period ended March 31, 2018 according to its unaudited financial results.
The number of iQiyi’s total subscribing members reached 96.8 million as of March 31, 2019, 98.6% of whom were paying subscribing members. This compares to 61.3 million of total subscribing members as of March 31, 2018, up 58% year over year.
In March, Baidu’s mobile reach expanded to 1.1 billion monthly active devices while DuerOS voice assistant installed base reached 275 million devices and generated 2.37 billion monthly voice queries.
Tencent’s total revenues in Q1 2019 were RMB85,465 million (USD12,693 million), an increase of 16% over the first quarter of 2018 according to Tencent’s announced financial results.
Alibaba reported fiscal year revenue growth of 51% as well as robust user growth and engagement. Excluding the effects of consolidating acquired businesses, revenue would have increased by 39% year-over-year, according to Maggie Wu, Chief Financial Officer of Alibaba Group.
Jingdong (JD) net revenues for the first quarter of 2019 were RMB 121.1 billion (US$118.0 billion), an increase of 20.9% from the first quarter of 2018. Net service revenues for Q1 2019 were RMB12.4 billion (US$1.9 billion), an increase of 44.0% from the first quarter of 2018.
Smartphone shipments declined by 4.1% to 26.936 million units in March 2019, accounting for 94.9% of mobile phone shipments in China. 90.5% of mobile phone shipped during this period are from domestic mobile phone vendors. Mobile phone shipments down 6% year-on-year China saw domestic mobile phone shipments declined to 28.373 million units in March 2019, […]
The number of WeChat online shopping mini-programs surpassed mini-games in the top 100 rankings for the first time. 71% of the top 100 came from companies based in tier-1 cities. Kuaishou has established a closed social e-commerce loop with the help of WeChat Mini-Programs. WeChat Mini-Programs daily visits per user increased by 54% year-on-year as […]