Pinduoduo, founded by an ex-Googler, reported GMV of 262.1 billion yuan (US$39.6 bn) in the twelve-month period ended June 30, 2018, an increase of 583% from last year. Active buyers grew by 245% to 343.6 million and annual spending per active buyer was 762.8 yuan (US$115.3), increased by 98% year-on-year. Average monthly active users reached […]
Alibaba delivered second quarter with 61% revenue growth, a net increase of 17 million Taobao MAUs to 634 million, and a decrease of 54% in income from operations, according to its financial results for the quarter ended June 30, 2018.
In Q2 2018, Xiaomi reported a high growth of 58.7% in smartphone revenues to 30.5 billion yuan (US$4.61 bn), accounting for roughly two-thirds of the total revenues. Smartphone sales volume reached 32.0 million units, up by 43.9% year-on-year. IoT and lifestyle products grew 104.3% year-on-year in revenues with the global sales volume of smart TVs grew over […]
Momo, one of the top mobile social networking platform in China, announced total net revenues of $494.3 million in Q2 2018 with an increase of 58% YoY, according to its unaudited financial results.
Vipshop’s total active customers grew by 6% year-on-year to 29.8 million in Q2 2018. 85% of customers were repeat customers and approximately 96% of orders were placed by repeat customers, according to its unaudited financial results for Q2 2018.
In Q2 2018, Jingdong (JD.com) formed a partnership with iQiyi for paid video memberships, launched its AI platform, received investment from Google. More brands such as Balenciaga and Muji launched their stores on JD.com.
Tencent saw its first decline in profit since Q3 2005. WeChat total MAUs grew about 10% to 1,057.7 million. Overall, both QQ and QZone saw a decrease in their MAUs in this quarter.
The growth rate of the fast-moving consumer goods (FMCG) in China accelerated during Q2 2018, with annual value growth hitting 4.7%, higher than 2.3% recorded in Q1 and also higher than 4.3% for the whole year of 2017. In the 12 weeks ending June 15, growth for modern trade channels (including hypermarkets, supermarkets, and convenience […]
Sogou achieved solid results in Q2 2018 with revenue increasing 43% year-on-year to US$301.4 million and non-GAAP net income up by 58% to US$38.2 million, according to its financial results. That was greatly driven by the twin growth engines – search and mobile keyboard – and AI-focused strategy.
Baidu had a stronger quarter in Q2 2018 with search exhibiting robust revenue growth driven by AI-powered monetization capabilities and Baidu feed continuing strong traffic, according to its financial results. The newly launched Xiaodu series speakers and the adoption of DuerOS handled over 400 million queries in June 2018, almost doubling the workload again over […]