China Tech Newsletter – Nov. 9, 2015

Weimob, a WeChat marketing solution provider, announces RMB500 million (roughly US$80M) Series C funding led by Hainan Airlines, at a valuation of more than RMB2 billion (roughly US$320M). (via Sina Tech)

Established in 2013, Weimob claims to have had more than 1.1 million businesses using its solutions for WeChat marketing and CRM as of June 2015. The company launched Mengdian, a mobile store platform, in March 2015.

Information technology equipment distributor Ex-Change Group Ltd. announced to acquire 67% in game publisher eFun, valuing the latter at RMB1.8 billion (roughly US$290M).

More than 99% of eFun’s revenues were from markets outside of mainland China in each of the past three years. More than 40% of its total revenues are from Apple’s App Store and Google Play.

The company made RMB255 million (roughly US$40M), RMB610 million (roughly US$98M) and RMB430 million (roughly US$69M) in 2013, 2014 and the first seven months of 2015, respectively.

Qualcomm China hasn’t reached patent-licensing agreements with Xiaomi and Lenovo. — The Wall Street Journal

Alibaba Group is reportedly in talks to invest in Hong Kong-based SMCP Group Ltd. — China Daily

Drone maker DJI is opening a R&D center in the Silicon Valley. — Fast Company

BitAuto reports third quarter results


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