The number of monthly active users of WeChat Mini Programs has exceeded 863 million (as of December 2020) according to data from QuestMobile. On average, each WeChat user uses 5.6 mini programs in December 2020, up from 5.1 a year ago. The average time spent per user on WeChat Mini Programs increased by over 27% […]
q1 2020
China’s on-demand food delivery leader Quhuo filed for NASDAQ IPO
The top player in China’s on-demand food delivery solution market, with a market share exceeding the total of the next top four combined, Quhuo applied to list their ADSs on the Nasdaq Global Market, under the symbol “QH.”
China online travel market down 55.8% in Q1 2020
The estimated transactions of China’s online travel market in the first quarter of 2020 were 186.2 billion yuan, down 55.8% quarter on quarter. Affected by the tourism off-season, the transaction scale of China’s online tourism market in Q4 2019 was 421.37 billion yuan, down 22.0% month on month, which was more significant than that in […]
China online shopping market overview Q1 2020
The transactions of China’s online shopping market is expected to reach 2.1 trillion yuan in Q1 2020, down 33.3% quarter on quarter or decrease of 1.2% year on year. In Q4 2019, the transactions of China’s online shopping market reached 3.2 trillion yuan, an increase of 38.5% QoQ or 26.9% YoY. The growth was higher […]
Social dating app Momo MAU down 6% in Q1 2020
Online dating and social networking mobile platform Momo reported 108 million monthly active users (“MAU”) in March 2020, compared to 114.4 million in March 2019.
China tablet shipment down 30% in Q1 2020, despite of higher demand
China’s tablet shipment totaled 3.73 million units in the first quarter of 2020, a decrease of 29.8% due to the coronavirus outbreak.
Pinduoduo in Q1 2020; 600 million active buyers, up 42%
Pinduoduo (NASDAQ: PDD), one of the top e-commerce platforms in China, saw its GMV more than doubled to 1,157.2 billion yuan (US$163.4 billion) in the twelve-month period ended March 31, 2020, an increase of 108% YoY from 557.4 billion.
Game streaming platform Huya mobile MAU up 39% in Q1 2020
China’s game live streaming platform Huya announced 47.8% growth in net revenues to RMB2,411.9 million (US$340.6 million) in Q1 2020 from RMB1,631.5 million in Q1 2019.
Xiaomi in Q1 2020; overseas market accounts for half of total revenues
In Q1 2020, Xiaomi’s total revenue for the period reached RMB49.7 billion, representing an increase of 13.6% year-over-year. Adjusted net profit for the period was RMB2.3 billion, an increase of 10.6% year-over-year.
Weibo MAU grew to 550 million in Q1 2020
Weibo monthly active users (“MAUs”) were 550 million in March 2020, a net addition of approximately 85 million users, or 16% increase on year over year basis. Mobile MAUs represented about 94% of MAUs.
China’s mobile payment market overview Q1 2020
By March 2020, the number of online payment users in China has reached 768 million, an increase of 168 million over the end of 2018, accounting for 85.0% of the total Internet users. The number of mobile online payment users has reached 765 million, an increase of 182 million over the end of 2018, accounting […]
China EdTech GSX revenues increased by 382% in Q1 2020
GSX Techedu Inc. (NYSE: GSX), a leading online K-12 large-class after-school tutoring service provider in China, reported net revenues of RMB1,297.6 million in Q1 2020, a 382.0% increase from RMB269.2 million in the first quarter of 2019.
China gaming revenues rose 25% in Q1 2020
Gaming revenues in China exceeded 73.2 billion yuan (US$10.31 bn) in Q1 2020, an increase of 25% compared with Q4 2019 according to a joint report by China Audio-Video Digital Publishing Association and IDC.
China GDP declined by 6.8% in Q1 2020
The gross domestic product (GDP) of China was 20,650.4 billion yuan (US$2,908.74 billion) in the first quarter of 2020, a year-on-year decrease of 6.8% at comparable prices according to the preliminary estimates of National Bureau of Statistics of China (NBS).