SoftBank co-leads Series B in Chinese self-driving startup Neolix, which has deployed nearly 1,000 autonomous vehicles globally with 1.3 million kilometers safe-driving mileage, and established partnerships with food and beverage retail brands like Pizza Hut and KFC. SCMP

Chinese government takes minority stake, board seat in TikTok owner ByteDance’s main domestic subsidiary. SCMP

Alibaba-backed Zuoyebang launches 5 quality education products. NetEase’s Youdao launched 6 new quality education products earlier, covering such fields as programming for children, science, art and robotics and the game of Go. Pandaily

Tencent Music is considering postponing its plans to sell up to $5 billion in shares in Hong Kong until next year, as China’s regulatory crackdown has resulted in a volatile market. NikkeiAsia

Chinese Q&A platform Zhihu reported a net loss of $49.7 million in the second quarter, a 177% increase from last year, its continued high marketing expenses partly contributed to the widening losses. While its MAUs grew 46% yearly to 94.3M, only 4% are paying users.Zhihu