China Tech Newsletter – July 2, 2015

Xiaomi sold 34.7 million smartphones in the first half of 2015, a 33% year-over-year increase. The company claims it’s been China’s largest smartphone vendor in terms of the number of units sold for five consecutive quarters.

Huawei’s Honor smartphone division announced 20 million shipments in H1 with sales totalling US$2.6 billion.

Leading consumer electronics retailer Suning has invested in Chinese smartphone maker Smartisan. (via CnBeta)

Renren invests in another fintech startup. Jinfuzi, a Shenzhen-based “online supermarket” of financial products, announces US$50 million in Series B round of funding led by Renren and joined by existing investor Sequoia Capital.

Didi Shunfengche, the car pooling service Didi Kuaidi released one month ago, launches today in 137 more cities, bringing the total number to 148.

Some 2.6 million drivers and 2 million passengers have signed up in the last month. Daily orders generated in the 11 cities have reached 600,000, according to the company. (via Sina Tech)

Youche Technology (our translation), parent company of private car hailing service Shenzhou Zhuanche, has raised US$250 million, with half from its partner company Hertz (NYSE:HTZ) and rest from Legend Capital and Warburg Pincus. (via TechWeb)

It is believed China’s private car hailing market is currently dominated by Didi Kuaidi, Uber and Yidao Yongche.

Ant Micro, the online loan business of Alibaba’s finance arm, now makes small loans to peasants.

Previously Alibaba lent money to small businesses including those on its marketplaces. In the last five years more than 1.6 million businesses borrowed money from Alibaba.

Baidu’s iQiyi video streaming service has bought the rights to some 800 movies and future releases from Paramount Pictures. Currently there are some 6000 movies on iQiyi site. (via Sina Tech)

Recruitment startup Pipahr has raised RMB40 million (roughly US$6.5) in Series A round of funding from SAIF PartnersZhenFundChinaRock Capital Management and Arbor Ventures.

Mobile game publisher Long Yuan has raised Series B round of funding from Innovation Works and Dongfang Xingkong, the investment arm of Zhejiang Daily Media Group.


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