Battered Autohome Sees Light at End of Tunnel

One of China’s oldest online car specialists posts 24% revenue decline in third quarter on reduced industry spending, but sees relief next year Key Takeaways: Leading Chinese online auto company Autohome says its revenue fell 24% in the third quarter, dragged down by a 50% decline in spending by car manufacturers Company sees global auto sector returning to more normal conditions in second half of next year as chip shortages ease By Doug Young The darkest hour is upon us, but light at the end of the tunnel is also…

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SMIC Spinoff SJSemi Becomes China’s Latest Chip Highflyer With New Fundraising

Chip packaging and testing company raises $300 million in new funding from a slate of state-backed entities Key Takeaways: •      SJSemi has raised $300 million in its latest fundraising round, following its recent spinoff from sanction-hobbled chip giant SMIC •      Company looks set to benefit from China’s recent drive to achieve self-sufficiency for its high-tech microchip sector By Thomas Zhang China’s aim of achieving self-reliance in high-tech semiconductor microchips has sent a flood of capital into the sector. One of the latest beneficiaries of that windfall is SJ Semiconductor Co.…

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