Media Focus on Multinational Corporations[2021.05.24]






Genetron, JD Health team up over cancer management

Genetron Holdings Ltd, a precision oncology platform company in China also known as Genetron Health, announced on Thursday a strategic partnership with JD Health, a subsidiary of Chinese e-commerce giant JD, to create innovative solutions for full-cycle cancer management.

The partnership encompasses both online and offline components, and focuses on six key areas, which are consumer healthcare, digitization of liver disease management, government medical associations, sharing of customer screening resources, industry and user education, and consolidation of oncology doctors and experts on a single platform.

The first phase of the partnership will focus on liver and lung cancer, Genetron Health said in a press release.

Genetron Health will cooperate with JD Health to cover early cancer screening, molecular profiling, therapy selection and drug resistance monitoring.


Sany&ZTE&Beijing Mobile

Sany, ZTE and Beijing Mobile in partnership

Equipment manufacturing company Sany Group has teamed up with Beijing Mobile Communications Co Ltd, a unit of China Mobile, and ZTE Corp, to launch an integrated cloud-network solution for increased use of 5G tech in the manufacturing sector.

According to Sany, by using China Mobile's private network, the integrated cloud-network solution will be able to optimally match business scenarios in industrial parks, enable use of innovative applications like data acquisition, machine vision and digital twin, a virtual representation of a physical object or system across its life cycle.

It will also boost the quality and efficiency at workshops and facilitate innovative integration of 5G and the industrial internet.


CNPC to sharpen focus on clean energy

China National Petroleum Corp, the country's largest oil and gas producer, said on Thursday that it will further diversify its business and expand cooperation to meet the country's growing demand for clean energy.

The State-owned energy giant will continue to expand natural gas development, especially the development and utilization of unconventional gas, including shale and coal-bed gas. At the same time, it will also step up the use of new energy and new materials to meet the growing demand for clean and high-quality energy in the country, it said in its 2020 social responsibility report.

CNPC produced more than 160 billion cubic meters of natural gas last year, with domestic production reaching 130.6 billion cubic meters, up 9.9 percent on a yearly basis and accounting for 70 percent of the country's total natural gas output last year, it said.



ByteDance CEO Zhang hands over baton to Liang

Billionaire Zhang Yiming, the founder of ByteDance, will step down as chief executive officer and hand over the reins to co-founder Liang Rubo later this year as the Chinese social media company gears up for the unprecedented changes both at home and abroad.

In an internal letter to employees, the 38-year-old Zhang, who founded several successful apps like TikTok, said he is making the transition to spend more time on 'long-term strategy, corporate culture, and social responsibility'.



BMW, Alibaba open innovation base in Shanghai

German premium carmaker BMW and China's Alibaba have started operation of a joint innovation base in Shanghai, as part of the two companies' efforts to empower Chinese tech startups with their expertise and resources.

In three years the base will provide no less than 300 companies with advanced cloud computing infrastructure from Alibaba, access to BMW experts and BMW business units via the BMW Startup Garage, said the carmaker in a statement on Thursday.

BMW said the focus of the startups at the base will be on innovative products, solutions and services that help bridge the internet, the internet of things and the automotive industry.



JD net profit up 33% in Q1

JD recorded 203.2 billion yuan ($31.58 billion) net revenue in the first quarter of 2021, up 39 percent year-on-year and 4 billion yuan net profit under the non-generally accepted accounting principles, up 33 percent, according to the firm's Q1 fiscal report released on Wednesday.

The report showed revenue of its retail business stood at 185.8 billion yuan, up 35 percent, of logistic business stood at 22.4 billion yuan, up 64 percent year-on-year, and of new businesses including JXI, a social e-commerce platform, at 5.2 billion yuan, up 56 percent.

As of late March, JD had 499.8 million active purchasers in the previous 12 months, up 29 percent from 387.4 million over the same period in 2020, and up 5.9 percent from 471.9 million purchasers last quarter, according to the fiscal report.



Vipshop posts profit for 34 straight quarters

SHANGHAI - China's major online discount retailer Vipshop Holdings Ltd posted net revenue of 28.4 billion yuan ($4.3 billion) in the first quarter (Q1) of 2021, maintaining positive net earnings for 34 consecutive quarters, it said in a report on Wednesday.

The NYSE-listed company raked in a net profit of 1.7 billion yuan during the quarter, and its gross merchandise volume (GMV) totaled 46.1 billion yuan, the company said.

Vipshop also saw its active users grow by 54 percent year-on-year to 45.8 million during the quarter.



Top e-travel agencies in China fully back on track Group, China's largest online travel agency, reported higher-than-expected financial performance for the first quarter, and the strong results indicate resilient recovery of China's domestic tourism market.

Compared with the first quarter of 2019 before the outbreak of the COVID-19 pandemic, both domestic hotel and air ticketing reservations have fully recovered since early March and achieved double-digit growth, according to the company's latest earnings report released on Wednesday.



Oil giant's new platform achieves key milestone

The country's largest independently designed and constructed offshore crude oil production platformLufeng 14-4 central platformhas completed float-over installation on Thursday in the South China Sea, which will further enhance the country's large-scale offshore oil and gas equipment construction and installation capabilities, China National Offshore Oil Corp said on Wednesday.

Expected to be put into operation later this year, the platform will provide more natural gas and oil resources for the Guangdong-Hong Kong-Macao Greater Bay Area, said Gao Shuang, general director of the company's Lufeng oil complex project.



Sunac Holdings launches residential products to attract the young

Sunac Holdings Group's Beijing regional branch on Tuesday launched 'HOME+' residential products targeting the younger generation, with projects gradually unveiled in Shijiazhuang, Tangshan, Langfang and Jinan.


BP China&DiDi

BP, DiDi charging stations will charge carbon neutrally

BP China and DiDi announced on Wednesday that all customers using the bp-xiaoju network of electric vehicle charging sites across China will charge carbon neutrally.

This is China's first carbon neutral EV charging offer and is based on international and national standards for carbon neutrality. BP China said bp-xiaoju, an EV charging joint venture between BP and DiDi, aims to develop a fast-charging network in key regions in southern, eastern, northern, southwestern and central parts of China.



PipeChina starts key tunnel work for Sino-Russian gas pipeline

China Oil & Gas Pipeline Network Corp, the country's largest energy infrastructure company, said it has started tunneling through the Yangtze River for its China-Russia East-Route natural gas pipeline on Tuesday, marking new progress in the two countries' energy cooperation to improve the capacity of the natural gas supply in China.

The project will hold records as the world's longest single excavation, the deepest tunnel, the highest water pressure, and the largest diameter tunnel of its kind, said the company.

It is expected that in 2025, Russian natural gas will pass directly through the tunnel to Shanghai. By then, natural gas will be transported to the Yangtze River Delta region, crossing through the provinces of Northeast and North China, with an annual supply of 38 billion cubic meters of natural gas.



Sinopec launches first 'carbon-neutral' gas station

Chinese oil giant Sinopec Group has completed work on the country's first 'carbon-neutral' gas station, marking an important step in its drive to reduce carbon emissions.

The company said that it has commissioned a distributed photovoltaic power project at its Jiaze gas station in Changzhou, Jiangsu province. The solar-powered gas station, which has rooftop solar panels, will be self-sufficient and transmit unused power to the grid.



Saint-Gobain opens 54th plant in China

Saint-Gobain SA, the French industrial conglomerate, opened its 54th plant in China, in Yangzhou, East China's Jiangsu province, on Monday to meet the country's soaring demand for new plaster products.

This factory will produce the latest generation of gypsum-based plasters for the local construction market. By partnering with a large number of power generation plants in Yangzhou, it has secured from them stable production material supplies - desulfurized gypsum -- to achieve green manufacturing.


China Mobile

China Mobile to make Shanghai listing

China Mobile, one of the country's leading telecom operators, has approved plans for a listing on the Shanghai Stock Exchange, according to the company's statement at the Hong Kong bourse Monday.

It plans to sell no more than 964.8 million shares, or 4.5 percent of its total issued shares.

Funds raised will be used on infrastructure construction of 5G networks, cloud resources and digital ecology, as well as telecom technology research and development, the statement showed.



Walmart Announces Plans To Acquire Zeekit, a Leading Virtual Fitting Room Platform, To Enable Enhanced and Social Shopping Experience for Customer

By Denise Incandela, EVP of Apparel and Private Brands, Walmart U.S.

Over the last few years, weve been working hard to expand our apparel assortment to include quality, on-trend and accessible fashion to help customers outfit their closets no matter their personal style or budget. But, in an increasingly online-driven category, customers not only want variety in styles, but also an inspiring and personalized digital experience that makes shopping for apparel easy, fun and social.

Thats why Im thrilled to announce Walmarts plan to acquire Zeekit, a female-founded, Israeli-based company that combines fashion and technology through its dynamic virtual fitting room platform to create a significantly enhanced customer and social experience.

Virtual try-on is a game-changer and solves what has historically been one of the most difficult things to replicate online: understanding fit and how an item will actually look on you. Zeekit will help us deliver an inclusive, immersive and personalized experience for our diverse customer base.