bullish

China Internet Weekly (3Aug2020): JD Acquired Appliance Store, Xiaomi Phone Sales Plunged

288 Views03 Aug 2020 10:52
SUMMARY
  • JD.com (JD) acquired 100% of Five Star, a store chain of household appliance.
  • Xiaomi (1810 HK)’s smartphone sales decreased by 35% YoY in 2Q20.
  • The State Post Bureau of China announced that the revenue from express parcel increased by 23.5% YoY in 2Q20 versus a decrease of 0.6% YoY in 1Q20.
  • The National Development and Reform Commission requires internet broadband providers to reduce prices by 15% for corporate users.
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