China Tech Newsletter – Nov. 17, 2015

Lemon miniStation (image credit: Tencent Games)
Lemon miniStation (image credit: Tencent Games)

Lenovo launches Lemon miniStation, the Android gaming console based on the solution developed by Tencent. It retails at RMB699 (roughly US$110).

The company also unveiled a custom version of the VR headset developed by Chinese startup AntVR.

Lenovo Lemon X3
Lenovo Lemon X3 (image credit: Lenovo)

Lemon X3 is the latest Android phone by Lenovo that is pre-loaded with a bunch of Chinese mobile apps, including NetEase Cloud Music (music streaming) and Changba (Karaoke).

Meitu V4
Meitu V4

Meitu, the photo-editing app and smart device developer, launches two new Android phones and two selfie cameras.

The company’s mobile apps had had 270 million monthly active users and 52 million daily active users as of October. More than 110 million registered accounts, about 12% of the total, are from overseas markets.

The company has recently invested in four startups, including Hisense (image recognition & visual search), Meilidoor (on-demand beauty service platform), Image Vision (audio/video solutions) and echo (audio social networking).

Yirendai, the online peer-to-peer marketplace lender of Creditease, has filed for IPO on the NYSE to raise up to US$100 million.

The company booked US$106 million in revenue for the twelve months ended June 2015. It has facilitated US$1 billion loans since the site was launched in March 2012. There have been more than 5 million registered users, with 62,000 borrowers and 59,000 investors, on Yirendai, according to the filing.

Game developer and publisher Kalends (aka. Kunlun Wanwei) announces to invest RMB93 million into Mitou Hong Hong Ltd., which has developed personal financial management app Yangqianguan, for a 20% stake.

Mitou Hong Hong was founded in July this year by a group of engineers from Facebook, Google, Apple, Microsoft, Oracle, Tencent and some other major Chinese tech companies, according to the announcement.

Wepiao, the company that operates the movie and event ticket booking services on WeChat and Mobile QQ, announces Series C round of funding from a group of investors including Tencent and Wanda Group.

Apart from online ticketing, Wepiao also invests in movies or movie-related contents or services. The company was established in May 2014.

Cheetah Mobile reports third quarter earnings.


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