Huawei, which was facing severe pressure due to the persistent unavailability of technical components needed for its mobile phone business, had decided to hive off the Honor brand.

The State Administration for Market Regulation announced on Monday it has fined e-commerce giant Alibaba Investment, Tencent-backed e-book site China Literature and logistics player Shenzhen Hive Box Technology 500,000 yuan ($76,450) each for not seeking regulatory approval before their respective buyout deals.

The administration said in a release on its website that the decisions were made after investigations into three acquisition cases－Alibaba's purchase of Intime Retail, China Literature's purchase of all shares of New Classics Media and Hive Box's acquisition of a subsidiary of China Post.

The State Post Bureau arranged a talk with Shenzhen Hive Box Technology Co Ltd to discuss adjusting its fees after members of the public complained about them being unreasonable, according to the administration's official WeChat account.

Officials with Hive Box said they will take it seriously and uphold their social responsibility.

Hive Box provides smart lockers used to store delivery packages.

The move by the postal administration comes after some residential communities in Shanghai refused to use Hive Box due to new charges which were introduced in May.

The country can become a hive of innovation.

The latest step is the acquisition of CIMC Electricity Commerce and Logistics Technology Co Ltd by Shenzhen-based Hive Box Technology, one of SF Express' investment in smart delivery locker business.

CIMC Electricity Commerce, a subsidiary of CIMC, was established in 2014 in Shenzhen and owns around 14,000 smart delivery locker cabinets, while Hive Box has more than 60,000 such cabinets.

After the acquisition, Hive Box's aim is to reach 90,000 locker units by the end of this year, dealing with five million parcels per day and covering 70 percent of the market in Beijing, Shanghai, Guangzhou and Shenzhen.

Zhao Xiaomin, a Shanghai-based logistics industry consultant, believes Hive Box will become the leading company in the smart locker industry and the total quantity provided by the whole industry is around 170,000 units.

The report also mentioned most cyberattacks against Chinese companies are from overseas ransomware organizations such as Lockbit, Hive and Blackcat, who usually aim to obtain commercial returns through cryptocurrencies.

Another example is the facial recognition-empowered self-serve package locker Hive Box, which was found to have a bug as some students opened lockers using the printed photos of parents.

Other fundraisings in China in the global top 10 were $600 million for electric vehicle startup NIO, $360 million for courier Hive Box Technology and $350 million going to video sharing and live broadcasting app developer Kuaishou Technology.