News Snapshot:
Kuaishou, the main rival of TikTok's Chinese version Douyin, officially filed its IPO prospectus with the Hong Kong Stock Exchange on November 5. According to the prospectus, from 2017 to 2019, Kuaishou's revenue rose from RMB 8.3 billion to RMB 39.1 billion. It generated revenue of RMB 25.3 billion for the six months ended June 30, 2020, up nearly 48 percent from RMB 17.1 billion in the same period last year. In the six months ended 30 June this year, Kuaishou had an average of 302 million daily active users and 776 million monthly active users, with daily active users...
