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China Tech Digest: China Box Office Broke New Records, HNA Shareholders Face Wipeout

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New single-day box office record in Chinese film history
As of 1:47 pm today, the box office of Chinese movies reached 1.459 billion yuan in a single day. It broke the record of 1.458 billion yuan in the box office on the first day of the Spring Festival in 2019.
The court accepted the reorganization of HNA, and the original shareholders’ equity will be valued at 0
HNA Group and more than 60 of its first batch of companies that were filed for bankruptcy and reorganization received a civil ruling on the acceptance of reorganization issued by the Hainan Higher People’s Court.
The court has appointed the HNA Group liquidation team as the company manager, and the first creditors meeting will be held online on the morning of April 12, 2021. ....

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China Tech Digest: Tencent Releases Vulgar Image Recognition Tech

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SenseTime says it has no comment regarding reports of it completing pre-IPO financing
SenseTime had reportedly completed its Pre-IPO round of fundraising at the end of last year, Chinese media reported. After this round of fundraising and investment, it is valued at approximately US$12 billion. SenseTime responded by saying that it has no comment.
Cambricon estimated net loss of RMB350 million-520 million yuan for 2020
Cambricon, Chinese AI chip company, announced that the company expects that the net loss attributable to the shareholders of the parent company will be 350 million to 520 million yuan.
Compared with the same period last year (statutory disclosure data), the amount of loss narrowed was 659 million yuan to 829 million yuan, which was 55.89% to 70.31% smaller than the same period last year. ....

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