TechNode Weekly News | August 30

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East Buy posts 70% drop in profit, faces future struggles after departure of top influencer by Yujia Dong

East Buy, the e-commerce unit of China’s one-time private tutoring giant New Oriental, posted a net profit of RMB 1.7 billion ($239 million) in the 12-month period to May 2024, of which RMB 1.3 billion came from gains on the shedding of its education business, while profit from continuing operations declined nearly 70% to RMB 249.1 million for the fiscal year.

China’s Xpeng sees 10,000 pre-orders in an hour for new budget EV by Jill SHEN

US-listed shares of Xpeng Motors climbed 6.5% after the Chinese electric vehicle maker received more than 10,000 non-reservation orders for the first model under its new budget brand MONA in the first hour after it was unveiled on Tuesday.?

Huawei unveils TruSense System for smart wearables, with new products set for release in September by Jessie Wu

On Wednesday, Huawei unveiled its brand new TruSense System for smart wearable devices at? the Innovative Wearable Technologies day, a highly anticipated event in Dongguan, Guangdong Province. This new system improves smartwatches and fitness trackers’ capacity to monitor and analyze certain physiological and? environmental data.

miHoYo founder sparks debate with prediction that AIGC will make average game developers redundant by Jessie Wu

On Wednesday, the founder of Genshin Impact-producing gaming company miHoYo?Cai Haoyu?shared a controversial post on LinkedIn expressing his views on AIGC (artificial intelligence generated content). “As for the game developers ranging from average to professional, we might as well consider switching careers,” Cai said.