China Tech Daily Briefing (Oct 30)

1.Baidu’s first three quarters’ earning growth slows due to rising costs; stock price increases by 5% following financial report release. 2.Chinese tech company 360 tastes USD 358 million net profit in the first three quarters, posts 8% YoY growth. 3.Ministry of Finance flags several tech companies for alleged cross-border transfer of profits and tax evasion; smartphone maker Xiaomi says report inconsistent with facts. 4.Alibaba’s online travel agency Fliggy announces its offline "FlyZoo Hotel" soon, most services to be provided by robot. 5.Alibaba CEO Jack Ma writes open letter to shareholders: says company helping troubled SMEs around the world. 6.AppleInside reports several reasons for Apple's stalled retail growth in China, says will be forced to reposition. 7.American staff of smart vehicle company FF asked to take an unpaid break for at least two months; CEO Jia Yueting urgently needs temporary financing. 8.Google, Tencent and JD.com will invest USD 1.2 billion in Indonesian car company Go-Jek which will bring its valuation to USD 9 billion.

(Reported by Wanying Zhang, an intern at The Passage)