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Foxconn halts some production lines for Huawei phones, according to reports

Posted by on Jun 1, 2019 in android, Apple, Companies, Donald Trump, Foxconn, Google, Huawei, mobile phones, operating system, president, shenzhen, smart phone, smartphone, Smartphones, TC, telecommunications, United States, Xiaomi | 0 comments

Huawei, the Chinese technology giant whose devices are at the center of a far-reaching trade dispute between the U.S. and Chinese governments, is reducing orders for new phones, according to a report in The South China Morning Post.

According to unnamed sources, the Taiwanese technology manufacturer Foxconn has halted production lines for several Huawei phones after the Shenzhen-based company reduced orders. Foxconn also makes devices for most of the major smart phone vendors including Apple and Xiaomi (in addition to Huawei).

In the aftermath of President Donald Trump’s declaration of a “national emergency” to protect U.S. networks from foreign technologies, Huawei and several of its affiliates were barred from acquiring technologies from U.S. companies.

The blacklist has impacted multiple lines of Huawei’s business including it handset manufacturing capabilities given the company’s reliance on Google’s Android operating system for its smartphones.

In May, Google reportedly suspended business with Huawei, according to a Reuters report. Last year, Huawei shipped over 200 million handsets and the company had a stated goal to become the world’s largest vendor of smartphones by 2020.

These reports from The South China Morning Post are the clearest indication that the ramifications of the U.S. blacklisting are beginning to be felt across Huawei’s phone business outside of China.

Huawei was already under fire for security concerns, and will be forced to contend with more if it can no longer provide Android updates to global customers.

Contingency planning is already underway at Huawei. The company has built its own Android -based operating system, and can use the stripped down, open source version of Android that ships without Google Mobile Services. For now, its customers also still have access to Google’s app store. But if the company is forced to make developers sell their apps on a siloed Huawei-only store, it could face problems from users outside of China.

Huawei and the Chinese government are also retaliating against the U.S. efforts. The company has filed a legal motion to challenge the U.S. ban on its equipment, calling it “unconstitutional.”  And Huawei has sent home its American employees deployed at R&D functions at its Shenzhen headquarters.

It has also asked its Chinese employees to limit conversations with overseas visitors, and cease any technical meetings with their U.S. contacts.

Still, any reduction in orders would seem to indicate that the U.S. efforts to stymie Huawei’s expansion (at least in its smartphone business) are having an impact.

A spokesperson for Huawei U.S. did not respond to a request for comment.


Source: The Tech Crunch

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As shared kitchens heat up, a China-based startup, Panda Selected, nabs $50 million led by Tiger Global

Posted by on Feb 21, 2019 in Beijing, China, CloudKitchens, Hangzhou, Luckin Coffee, Panda Selected, Recent Funding, Restaurants, shanghai, shenzhen, Startups, TC, Tiger Global Management | 0 comments

A few weeks ago, we told you that former Uber CEO Travis Kalanick looks to be partnering with the former COO of the bike-sharing startup Ofo, Yanqi Zhang, to bring his new L.A.-based company, CloudKitchens, to China. Kalanick didn’t respond to our request for more information, but according to the South China Morning Post (SCMP), his plan is to provide local food businesses with real estate, facilities management, technology and marketing services.

He might want to move quickly. Kitchens that invite restaurants to share their space to focus on take-out orders is a concept that’s picking up momentum fast in China. And one company looks to have just assumed pole position in that race: Panda Selected, a Beijing-based shared-kitchen company that just raised $50 million in Series C funding led by Tiger Global Management, with participation from earlier backers DCM and Glenridge Capital. The round brings its total funding to $80 million.

Little wonder there’s a contest afoot. China’s food-delivery market is already worth $37 billion dollars, according to the SCMP, which says 256 million people in China used online food ordering services in 2016, and the number is expected to grow to 346 million this year.

And that’s still a little less than a quarter of the country’s population of 1.4 billion people.

Panda Selected is wasting little time in trying to reach them. While SCMP says that online delivery services already blanket 1,300 cities. Panda Selected, founded just three years ago, says it already operates 120 locations that cover China’s biggest centers, including Shanghai, Beijing, Shenzhen and Hangzhou. It claims to work with more than 800 domestic catering brands, including Luckin Coffee, Kungfu and TubeStation. The company also says that its kitchens are typically 5,000-square-feet in size and can accommodate up to 20 restaurants in each space.

With its new funding, it expects to double that number over the next eight months, too, its  founder, Haipeng Li, tells Bloomberg. That’s going to make it difficult to challenge, especially by any U.S.-based company, given overall relations between the two countries and the ever-changing regulatory environment in China.

Then again, this may be just the first inning. Stay tuned.


Source: The Tech Crunch

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Xiaomi-backed electric toothbrush Soocas raises $30 million Series C

Posted by on Feb 11, 2019 in alibaba, alibaba group, Asia, China, Companies, electric toothbrush, funding, Hardware, procter & gamble, shenzhen, Smartphones, toothbrush, Xiaomi | 0 comments

China’s Soocas continues to jostle with global toothbrush giants as it raises 200 million yuan ($30 million) in a series C funding round. The Shenzhen-based oral care manufacturer has secured the new capital from lead investor Vision Knight Capital, with Kinzon Capital, Greenwoods Investment, Yunmu Capital and Cathay Capital also participating in the round.

The new proceeds arrived less than a year after Soocas, one of Xiaomi’s home appliance portfolio startups, snapped up close to 100 million yuan in a Series B round last March. Best known for its budget smartphones, Xiaomi has a grand plan to construct an Internet of Things empire that encompasses smart TVs to electric toothbrushes, and it has been gearing up by shelling out strategic investments for consumer goods makers such as Soocas.

Founded in 2015, Soocas’s rise reflects a growing demand for personal care accessories as people’s disposable income increases. Electric toothbrushes are a relatively new concept to most Chinese consumers but the category is picking up steam fast. According to data compiled by Alibaba’s advertising service Alimama, gross merchandise volume sales of electric toothbrushes grew 97 percent between 2015 and 2017. Multinational brands still dominate the oral care space in China, with Procter & Gamble, Colgate and Hawley & Hazel Chemical occupying the top three spots as of 2017, a report from Euromonitor International shows, but local players are rapidly catching up.

Soocas faces some serious competition from its Chinese peers Usmile and Roaman. Like Soocas, the two rivals have also placed their offices in southern China for proximity to the region’s robust supply chain resources. Part of Soocas’s strength comes from its tie-up with Xiaomi, which gives its portfolio companies access to a massive online and offline distribution network worldwide. That comes at a cost, however, as Xiaomi is known to impose razor-thin margins on the companies it backs and controls.

According to a statement from Soocas’s founder Meng Fandi, the company has achieved profitability since its launch and has seen its margin increase over the years. It plans to spend its fresh proceeds on marketing in a race to lure China’s increasingly sophisticated young consumers with toothbrushes and its new lines of hair dryers, nasal trimmers and other tools that make you squeaky-clean.


Source: The Tech Crunch

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Work on world’s first CRISPR gene-edited babies declared illegal by China

Posted by on Jan 21, 2019 in Asia, Biology, Biotech, China, CRISPR, Emerging-Technologies, Genetics, Science, shenzhen, United States | 0 comments

Chinese authorities have declared the work of He Jiankui, who shocked the scientific community by claiming he successfully created the world’s first gene-edited babies, an illegal decision in pursuit of “personal fame and gain.” Investigators have completed preliminary steps in a probe that began in November following He’s claims and say they will “seriously” punish the researcher for violations of the law, China’s official news agency Xinhua reported on Monday.

He, who taught at Shenzhen’s Southern University of Science and Technology, had led a team to research the gene-editing technique CRISPR since mid-2016 in attempts to treat cancers and other diseases. The incident drew significant attention to the professor’s own biotech startups that are backed by local and overseas investors.

The official probe shows that He fabricated ethics approvals which he used to recruit eight couples to participate in clinical procedures between March 2017 and November 2018. The attempt led to two pregnancies, including one that resulted in the birth of twins and the other embryo yet to be born. Five couples failed to achieve fertilization and one pair dropped out of the experiment.

He’s project has sparked a wave of criticism among scientists across the world. CRISPR is still dangerously unethical at this point for it may cause serious genetic damage. Some researchers have proposed a moratorium on CRISPR until more guidelines become clear while others call for developing safer and more ethical methods to propel the technology forward. Many countries, including the United States and China, prohibit gene-editing of human embryos for reproductive purposes.


Source: The Tech Crunch

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Chinese stocks plummet as Huawei CFO arrest raises trade fears

Posted by on Dec 6, 2018 in Asia, China, Hardware, Honor, Huawei, Iran, Meng Wanzhou, Mobile, North Korea, Ren Zhengfei, shanghai, Shanghai Stock Exchange, shenzhen, us government, zte | 0 comments

A string of Chinese stocks fell hard on Thursday after the arrest of Huawei’s chief financial officer Meng Wanzhou in Vancouver deepened concerns over US-China trade tensions.

The Hang Seng China Enterprises Index of Chinese companies listed in Hong Kong was off 2.76 percent as of 12:40 p.m. On the Mainland side, the CSI 300 index of the top 300 stocks trading in Shanghai and Shenzhen fell 2.1 percent. The US stock market is closed Wednesday to honor former US President George H.W. Bush.

The crash arrived after Canadian officials detained Meng, daughter of Huawei’s founder and chief executive officer Ren Zhengfei, on suspicion that Huawei has violated American sanctions on Iran. Meng is facing extradition to the US.

Shares of Huawei’s main rival ZTE nosedived nearly 6 percent in Hong Kong by midday. Meng’s news also hit the suppliers of employee-owned Huawei across the Asian stock markets. Among the worst performers is Shennan Circuit, which slipped nearly 10 percent in Shenzhen as of this writing.

zte stock huawei

Huawei and its main rival ZTE have been targets of the US government that worries about the alleged ties between the telecom equipment makers and the Chinese governemnt. The US’s ban on ZTE sparks concerns that Huawei will face a similar fate. In April, the US Department of Commerce announced a seven-year ban that would restrict American component makers from selling to ZTE, which in 2017 pleaded guilty to violating sanctions on Iran and North Korea.

Chinese stocks had been on a downward trend prior to Meng’s arrest as a result of rising US tarrifs over the last few months. In October, the Shanghai benchmark index dropped to a four-year low.

Updated with charts on HSCEI and ZTE.


Source: The Tech Crunch

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China’s Infervision is helping 280 hospitals worldwide detect cancers from images

Posted by on Nov 30, 2018 in Artificial Intelligence, Asia, Beijing, Cancer, chicago, China, cybernetics, Disease, Health, healthcare, hospital, imaging, Infervision, medical imaging, medicine, sequoia capital, Sequoia Capital China, shenzhen, University of Chicago | 0 comments

Until recently, humans have relied on the trained eyes of doctors to diagnose diseases from medical images.

Beijing-based Infervision is among a handful of artificial intelligence startups around the world racing to improve medical imaging analysis through deep learning, the same technology that powers face recognition and autonomous driving.

The startup, which has to date raised $70 million from leading investors like Sequoia Capital China, began by picking out cancerous lung cells, a prevalent cause of death in China. At the Radiological Society of North America’s annual conference in Chicago this week, the three-year-old company announced extending its computer vision prowess to other chest-related conditions like cardiac calcification.

“By adding more scenarios under which our AI works, we are able to offer more help to doctors,” Chen Kuan, founder and chief executive officer of Infervision, told TechCrunch. While a doctor can spot dozens of diseases from one single image scan, AI needs to be taught how to identify multiple target objects in one go.

But Chen says machines already outstrip humans in other aspects. For one, they are much faster readers. It normally takes doctors 15 to 20 minutes to scrutinize one image, whereas Infervision’s AI can process the visuals and put together a report under 30 seconds.

AI also addresses the longstanding issue of misdiagnosis. Chinese clinical newspaper Medical Weekly reported that doctors with less than five years’ experience only got their answers right 44 percent of the time when diagnosing black lung, a disease common among coal miners. And research from Zhejiang University that examined autopsies between 1950 to 2009 found that the total clinical misdiagnosis rate averaged 46 percent.

“Doctors work long hours and are constantly under tremendous stress, which can lead to errors,” suggested Chen.

The founder claimed that his company is able to improve the accuracy rate by 20 percent. AI can also fill in for doctors in remote hinterlands where healthcare provision falls short, which is often the case in China.

Winning the first client

infervision medical imaging

A report on bone fractures produced by Infervision’s medical imaging tool

Like any deep learning company, Infervision needs to keep training its algorithms with data from varied sources. As of this week, the startup is working with 280 hospitals — among which 20 are outside of China — and steadily adding a dozen new partners weekly. It also claims that 70 percent of China’s top-tier hospitals use its lung-specific AI tool.

But the firm has had a rough start.

Chen, a native of Shenzhen in south China, founded Infervision after dropping out of his doctoral program at the University of Chicago where he studied under Nobel-winning economist James Heckman. For the first six months of his entrepreneurial journey, Chen knocked on the doors of 40 hospitals across China — to no avail.

“Medical AI was still a novelty then. Hospitals are by nature conservative because they have to protect patients, which make them reluctant to partner with outsiders,” Chen recalled.

Eventually, Sichuan Provincial People’s Hospital gave Infervision a shot. Chen with his two founding members got hold of a small batch of image data, moved into a tiny apartment next to the hospital, and got the company underway.

“We observed how doctors work, explained to them how AI works, listened to their complaints, and iterated our product,” said Chen. Infervision’s product proved adept, and its name soon gathered steam among more healthcare professionals.

“Hospitals are risk-averse, but as soon as one of them likes us, it goes out to spread the word and other hospitals will soon find us. The medical industry is very tight-knit,” the founder said.

It also helps that AI has evolved from a fringe invention to a norm in healthcare over the past few years, and hospitals start actively seeking help from tech startups.

Infervision has stumbled in its foreign markets as well. In the U.S., for example, Infervision is restricted to visiting doctors only upon appointments, which slows product iteration.

Chen also admitted that many western hospitals did not trust that a Chinese startup could provide state-of-the-art technology. But they welcomed Infervision in as soon as they found out what it’s able to achieve, which is in part thanks to its data treasure — up to 26,000 images a day.

“Regardless of their technological capability, Chinese startups are blessed with access to mountains of data that no startups elsewhere in the world could match. That’s an immediate advantage,” said Chen.

There’s no lack of rivalry in China’s massive medical industry. Yitu, a pivotal player that also applies its AI to surveillance and fintech, unveiled a cancer detection tool at the Chicago radiological conference this week.

Infervision, which generates revenues by charging fees for its AI solution as a service, says that down the road, it will prioritize product development for conditions that incur higher social costs, such as cerebrovascular and cardiovascular diseases.


Source: The Tech Crunch

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Hospital in China denies links to world’s first gene-edited babies

Posted by on Nov 26, 2018 in Asia, Baidu, Biotech, Cancer, China, Genetics, hiv, MIT, shenzhen, TC | 0 comments

News of the world’s first ever gene-edited human babies being born in China caused a huge stir on Monday after the MIT Technology Review and the Associated Press brought the project to light. People in and outside China rushed to question the ethical implications of the scientific breakthrough, reportedly the fruit of a Chinese researcher named He Jiankui from a university in Shenzhen.

There’s another twist to the story.

According to the AP, He had sought and received approval from Shenzhen HarMoniCare Women’s and Children’s Hospital to kick off the experiment. The MIT Technology Review’s report also linked to documents stating that He’s research received the green light from HarMoniCare’s medical ethics committee.

When contacted by TechCrunch, however, a HarMoniCare spokesperson said she was not aware of He’s genetic test and that the hospital is probing the validity of the circulated documents. TechCrunch will update when the case makes progress.

“What we can say for sure is that the gene editing process did not take place at our hospital. The babies were not born here either,” the spokesperson said of He’s project.

He, who studied at Rice and Standford Universities, led a research team at Southern University of Science and Technology which set out to eliminate the gene associated with HIV, smallpox, and cholera by utilizing the CRISPR gene-editing tool, according to the MIT Technology Review. The technology is ethically fraught because changes to the embryo will pass on to future generations. He’s daring initiative is set to cause debate at the upcoming Second International Summit on Human Genome Editing in Hong Kong, which he will attend.

It’s also noteworthy that HarMoniCare belongs to the vast Putian network, a fold of 8,000 private healthcare providers originated from Putian, Fujian province. That’s according to a list compiled by DXY.cn, a Chinese online community for healthcare professionals. Putian hospitals expanded across China quickly over the years with little government oversight until the death of a college student. In 2016, 21-year-old Wei Zexi died of cancer after receiving dubious treatment from a Putian hospital. The incident also provoked a public outcry over China’s largest search engine Baidu, which counted Putian hospitals as a major online advertiser.


Source: The Tech Crunch

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WeWork is getting serious about China

Posted by on Nov 21, 2018 in Asia, Beijing, China, coworking, naked hub, Real Estate, shanghai, shenzhen, Softbank, ucommune, WeWork, wework labs | 0 comments

Since its entry into China in 2016, WeWork has extended from four to around 60 locations across the country’s megacities like Shanghai, Beijing, and most recently, Shenzhen.

That’s one-sixth of WeWork’s 360 locations worldwide. It’s also equivalent to what WeWork has achieved in its early five to six years globally, Sern Hong Yu, regional head of project delivery at WeWork China, said at TechCrunch Shenzhen recently.

“Next year, it will be even faster,” he added, without revealing the exact number of offices that will open.

The executive confirmed that China will be one of WeWork’s fastest growing region and much of that boom will come from the rising number of enterprise clients.

While the coworking titan strives to redefine office spaces for old-school companies, these larger corporations are presumably a more reliable income source than long-shot early-stage startups.

But Yu said WeWork is also supporting nascent companies. The office operator runs a program called WeWork Labs that gives startups discounted desk space, an educational program, and mentorship without taking stakes in them.

The incubator is just one facet of WeWork’s expanding ventures. It’s been keen to distinguish itself from a pure coworking space. Besides offices, it manages a raft of ventures around the world that include shared apartments, wellness complexes, and even wave pools, all based on the tenet of “make a life, not a living.”

When it comes to China, WeWork says this package of services could help combat the country’s notorious “996” work regime, an acronym short for working from 9 am to 9 pm for six days a week.

“A lot of people like the [WeWork] workplace so much that stay longer than usual,” Yu said. “But in the meantime, we do remind them of the work-life balance.”

The American giant envisages a future where it exists in every other block down the street. But it has some serious contestants in China.

UCommune, which rebranded from UrWork after WeWork sued it over the name similarity, is one of them. The rival is founded by Chinese real-estate veteran Mao Daqing and claims to operate more than 200 co-working spaces across the world, most of which are in China.

WeWork and UCommune have emerged as the dominant forces in China’s coworking market after each grabbed sizable fundings in recent months. Shortly after Ucommune raised $200 million in November, WeWork scored a $3 billion warrant from SoftBank. The rivals have also been in an acquisition race. This year, Ucommune scooped up a number of small rivals and WeWork spent $400 million to pick up main competitor Naked Hub.


Source: The Tech Crunch

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AI giant SenseTime leads $199M investment in Chinese video tech startup

Posted by on Aug 8, 2018 in Artificial Intelligence, Asia, Beijing, Co-founder, economy, Fundings & Exits, SenseTime, shenzhen | 0 comments

SenseTime may be best known as the world’s highest-valued AI company — having raised $620 million at a valuation of over $4.5 billion — but it is also an investor, too. The Chinese firm this week led a 1.36 billion RMB ($199 million) Series D funding round for Moviebook, a Beijing-based startup that develops technology to support online video services.

Moviebook previously raised a 500 million RMB Series C in 2017, worth around $75 million. SB China Venture Capital (SBCVC) also took part in this new round alongside Qianhai Wutong, PAC Partners, Oriental Pearl, and Lang Sheng Investment.

With the investment, SenseTime said it also inked a partnership with Moviebook which will see the two companies collaborate on a range of AI technologies, including augmented reality, with a view to increasing the use of AI in the entertainment industry.

The object detection and tracking technology developed by SenseTime Group Ltd. is displayed on a screen at the Artificial Intelligence Exhibition & Conference in Tokyo, Japan, on Wednesday, April 4, 2018. The AI Expo will run through April 6. Photographer: Kiyoshi Ota/Bloomberg

In a statement in Chinese, SenseTime co-founder Xu Bing said the companies plan to use the vast amounts of video data from broadcasting, TV and internet streams to help unlock commercial opportunities in the future. He also stressed the potential to bring AI and new technologies to the entertainment industry.

This isn’t SenseTime’s first strategic investment, but it is likely to be its most significant to date. The company has previously backed startups that include 51VR, Helian Health and Suning Sports, the spinout from retail giant Suning.

SenseTime itself has raised over $1.6 billion from investors, which include Alibaba, Tiger Global, Qualcomm, IDG Capital, Temasek and Silver Lake Partners.


Source: The Tech Crunch

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