As of August 2020, the number of daily active users of WeChat Mini Programs has exceeded 400 million, the GMV of mini-programs transactions has increased by 115% YoY, and the self-operated GMV of brand merchants has increased by 210% YoY, according to data shared at Tencent Global Digital Ecosystem Summit. Pinduoduo secured more younger users […]
Tencent has the highest reach of 98.7% of China mobile internet users in June 2020. Alibaba and Baidu reach 97.6% and 91.2% mobile internet users respectively while ByteDance follows closely with 66.7% reach.
The Q2 2020 worldwide cloud infrastructure services market continued to surge, as spending grew 31% to US$34.6 billion, according to Canalys.
The top player in China’s on-demand food delivery solution market, with a market share exceeding the total of the next top four combined, Quhuo applied to list their ADSs on the Nasdaq Global Market, under the symbol “QH.”
Due to the impact of the epidemic, China online advertising market could no longer continue its steady growth trend in Q1 2020. Newsfeed has become a primary channel for online advertisers, driven by strong short video growth. In the overall advertising market in China, education sector saw the strongest growth in Q1 while FMCG, Apparel, […]
The estimated transactions of China’s online travel market in the first quarter of 2020 were 186.2 billion yuan, down 55.8% quarter on quarter. Affected by the tourism off-season, the transaction scale of China’s online tourism market in Q4 2019 was 421.37 billion yuan, down 22.0% month on month, which was more significant than that in […]
The transactions of China’s online shopping market is expected to reach 2.1 trillion yuan in Q1 2020, down 33.3% quarter on quarter or decrease of 1.2% year on year. In Q4 2019, the transactions of China’s online shopping market reached 3.2 trillion yuan, an increase of 38.5% QoQ or 26.9% YoY. The growth was higher […]
Online dating and social networking mobile platform Momo reported 108 million monthly active users (“MAU”) in March 2020, compared to 114.4 million in March 2019.
China’s tablet shipment totaled 3.73 million units in the first quarter of 2020, a decrease of 29.8% due to the coronavirus outbreak.
Meituan’s total revenues decreased by 12.6% year-over-year to RMB16.8 billion from RMB19.2 billion in Q1 2019. The operating loss for Q1 2020 expanded on a year-over-year basis from RMB1.3 billion to RMB1.7 billion, while operating margin decreased from negative 6.8% to negative 10.2%.
Pinduoduo (NASDAQ: PDD), one of the top e-commerce platforms in China, saw its GMV more than doubled to 1,157.2 billion yuan (US$163.4 billion) in the twelve-month period ended March 31, 2020, an increase of 108% YoY from 557.4 billion.
China’s game live streaming platform Huya announced 47.8% growth in net revenues to RMB2,411.9 million (US$340.6 million) in Q1 2020 from RMB1,631.5 million in Q1 2019.
In Q1 2020, Xiaomi’s total revenue for the period reached RMB49.7 billion, representing an increase of 13.6% year-over-year. Adjusted net profit for the period was RMB2.3 billion, an increase of 10.6% year-over-year.
Weibo monthly active users (“MAUs”) were 550 million in March 2020, a net addition of approximately 85 million users, or 16% increase on year over year basis. Mobile MAUs represented about 94% of MAUs.
Bilibili, a leading online entertainment platform focus on Generation Z in China, reported 69% growth of net revenues (2,315.5 million yuan or US$327.0 million) in the first quarter of 2020.