China Tech Newsletter – May 15, 2015

Allwinner Technology, whose R8 processor is powering this 9-dollar computer, launches its IPO on the Growth Enterprise Market of the Shenzhen Stock Exchange.

Allwinner designs and produces multi-core application processors for mobile devices, smart home products and in-dash connected car devices, and smart power management ICs.

The company claims, citing a report by CCID Consulting, that it had 36% of China’s tablet application processor market in terms of the number of shipments in 2012. Sales began declining in 2013 on increased competition. It aims to regain momentum through the application processors designed for the newly emerged smart hardware products.

Didi-Kuaidi is launching a helicopter ride service by partnering with Beijing-based helicopter service provider Reignwoodstar. It is currently available for sightseeing tours in Beijing and flights between Beijing and Tianjin city that are priced RMB1999 (about US$320) and RMB3500 (about US$560), respectively. (via TechWeb)

K-12 online learning platform Xuele announces Series B round of funding led by Haitong Securities. (via Duozhi)

Face recognition solution developer Face++ has raised US$25 million in new round of funding. The existing investors, Innovation Works and Qiming Ventures, participated in this new round. (via Sina Tech)

The three Chinese telecom operators announced to improve internet speed and cut prices.

Weibo and Sina report first quarter results.


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