Sales in China dropped 20.5% for January and February due to COVID-19 and the lockdown. Restaurant sales dropped 43.1%. // Xinhua
Tencent (HKG: 0700) reported its 2019 financial results, growing the top-line at 21% and adjusted EBITDA at 30%. Its fintech services revenue has surpassed ¥100 billion in 2019. There are over 50 million monthly active merchants in 2019Q4 and LiCaiTong 理财通, increased its aggregate customer assets over 50% year-on-year, while its number of customers more than doubled year-on-year. // Press Release | Annual Report
Lilium raised $240M in a recent financing round led by Tencent, with participation from other previous backers that included Atomico, Freigeist and LGT. Lilium, a Munich-based startup that is designing and building vertical take-off and landing (VTOL) aircraft with speeds of up to 100 km/h, eventually plans to run in its own taxi fleet. // TechCrunch | Press Release
