Shenzhen-based company Huawei has retained the top spot on the top 500 Chinese private companies list this year, with a revenue of 858.83 billion yuan (US$125.64 billion), Shenzhen Special Zone Daily reported.
China's leading new energy vehicle (NEV) manufacturer BYD Company Limited recorded 1.66 billion yuan ($242 million) of net profit in the first half of 2020 (H1), up 14.29 percent year-on-year.
Shenzhen-based Huawei shipped over 15 million 5G handsets in the first quarter this year, ranking it first in China’s 5G market. It seized 63 percent of the domestic 5G smartphone market and 40 percent of the global market as well in the first three months, according to Shenzhen Economic Daily, quoting executives of Huawei Technologies at a recent summit.
Chinese television maker Skyworth Group is betting big on the OLED TVs, and ramping up its research and development inputs in the superfast 5G and artificial intelligence to seek new business growth points, despite the slowdown in the domestic TV sector.
Shenzhen-based tech giant Tencent started service of its largest data center cluster Friday. It is self built, located in Qingyuan, Guangdong Province, and has the capacity to house more than 1 million servers.
Xiaomi Corp., a Chinese tech giant producing smartphones and smart hardware, will set up its international headquarters in Shenzhen, according to an agreement it signed with the Shenzhen Municipal Government yesterday.