TikTok owner ByteDance renames some subsidiaries
ByteDance office building in Beijing, China, May 10, 2020. /CFP

ByteDance office building in Beijing, China, May 10, 2020. /CFP

TikTok owner ByteDance has renamed some subsidiaries including one in Hong Kong and two in Beijing as "Douyin," the name of the Chinese version of the popular short-video app TikTok.

Established in 2012, ByteDance (Hong Kong) Limited was renamed as Douyin Group (Hong Kong) Limited, which took effect on May 6, according to information on the Companies Registry of Hong Kong.

Beijing ByteDance Technology Limited, founded in 2012, was renamed as Beijing Douyin Information Service Limited, according to China's National Enterprise Credit Information Publicity System.

ByteDance Limited, established in 2016, became Douyin Limited this month, according to Tianyancha, a platform that tracks local business registrations.

Douyin's daily active users in China grew to over 600 million last year. Douyin, together with Toutiao, contributed most of ByteDance's domestic revenue.

ByteDance last month appointed veteran capital markets attorney Julie Gao, who has advised many Chinese technology companies on public listings, as new chief financial officer.

Kuaishou, Douyin's primary domestic rival, was listed in Hong Kong in February last year.

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