FB Pixel no scriptKrASIA | Decoding China's tech and business pulse
MENU
KrASIA

News

From China to Europe, Momenta pairs new chip with global assisted driving push

4 mins read

Pulses

Apple tests Douyin Pay on China store

just now
SCMP
Apple is testing Douyin Pay as a new payment option on its China app store, local media reported. If implemented, the ByteDance-owned service would join Alipay, WeChat Pay, and UnionPay as a supported platform, expanding user choice in China’s mobile payments ecosystem.

Lenovo beats estimates on PC demand

just now
Bloomberg
Lenovo’s net income rose 108% to USD 505 million in Q2 2025, beating estimates as firms rushed PC purchases ahead of potential US tariffs. Revenue reached USD 18.8 billion, with PC shipments up 15% YoY. Analysts warn new trade measures may weigh on sales later this year.

Tencent uncertain on US chip imports

just now
Reuters
Tencent said it doesn't have a definitive answer on US AI chip import rules as talks between Beijing and Washington continue, but confirmed it has enough inventory to support ongoing AI training and service deployment. President Martin Lau said the company is closely monitoring developments.

Momenta powers on in-house chip

just now
KrASIA
Momenta has powered on its first in-house chip for assisted driving and begun vehicle testing. Designed to rival Nvidia’s Orin X and Qualcomm’s 8650, the chip aims to simplify integration and cut costs. With over 300,000 vehicles running its systems and global programs advancing via partners like IM Motors and Uber, Momenta is moving toward scaled deployment and a potential IPO.

Nibertex secures Series A funding

just now
Nibertex
Nibertex, a Singapore-headquartered textile membrane manufacturer, has raised USD 7 million in a Series A funding round led by TNB Aura, with participation from Asian Development Bank, Faircrest Holding, and Foxmont Capital Partners. Its technology produces PFAS-free waterproof, breathable membranes. The funds will support manufacturing in the Philippines, R&D, and customer acquisition.

Food tech startup Prefer lands fresh capital

just now
Prefer
Prefer, a Singapore-based food tech startup, has raised USD 4.2 million in an oversubscribed funding round co-led by At One Ventures and Chancery Hill Capital, with participation from Forge Ventures. The raise coincides with the launch of its soluble coffee and cocoa powders, made from food byproducts like rice and soy using proprietary processes that reduce emissions.

Naluri raises Series B funding for expansion

just now
Naluri
Naluri, a Singapore-based digital employee health and wellbeing provider, has raised USD 5 million in funding led by Telus Global Ventures’ Pollinator Fund for Good, with participation from Sumitomo Corporation Equity Asia, M Venture Partners, and unnamed investors. The raise is part of a broader USD 14 million Series B round and will support working capital, market expansion, and a new commercial partnership.

Kuaishou denies shift to own retail

just now
Jiemian News
Kuaishou has no plans to fully enter self-operated e-commerce, a person familiar with the matter said, after speculation arose from the online listing of a branded flagship store. Products are said to be sold and shipped by partner merchants. The platform remains focused on improving supply and merchant operations amid slowing GMV growth.

Tencent Q2 profit rises on AI boost

just now
Tencent
Tencent’s Q2 2025 revenue rose 15% YoY to RMB 184.5 billion, while non-IFRS operating profit climbed 18% to RMB 69.2 billion. AI-driven gains across gaming, advertising, and fintech fueled growth. Titles like Honor of Kings and Delta Force led engagement, while ad revenue jumped 20% on improved targeting tools.

Iluvatar CoreX eyes Hong Kong IPO

just now
Bloomberg
Iluvatar CoreX is weighing a Hong Kong IPO that could raise USD 300–400 million, according to sources. Backed by Centurium Capital, the chipmaker is gaining traction as Beijing pushes firms to reduce reliance on Nvidia. Discussions are preliminary, and deal terms may still change.

DeepSeek says no R2 model yet

just now
Tencent
DeepSeek has denied reports of an August release for its next-generation R2 model, confirming no launch is scheduled this month. The delay follows CEO Liang Wenfeng’s concerns over model performance and tight GPU supply after Nvidia’s H20 chip was blocked. DeepSeek has focused on iterative upgrades to its V3 and R1 models instead.

Xiaohongshu forms commerce division

just now
36Kr
Xiaohongshu (RedNote) has formed a new commerce division to improve coordination between its advertising and transaction teams. COO Ke Nan and CMO Wang Yajuan (Zhiheng) will co-lead the unit, with no immediate changes to the existing ad and trading department structures.

Xiaomi reshuffles Africa leadership team

just now
Sina
Xiaomi has named Liu Shequan as general manager for Africa and head of West Africa, alongside four new regional and functional appointments. The changes come as Xiaomi expands across 16 African countries and posts 38% sales growth in 2024, lifting its market share to 11%, close behind Transsion and Samsung.

Perplexity bids for Google Chrome

just now
WSJ
Perplexity has offered USD 34.5 billion to acquire Google’s Chrome browser in a move aimed at supporting antitrust remedies under review by a US judge. The AI startup pledged to maintain Chromium and retain Google as Chrome’s default search engine. Google has not commented on the proposal.

OpenAI, Altman back Merge Labs

just now
Financial Times
OpenAI CEO Sam Altman is co-founding Merge Labs, a brain-computer interface startup positioned to rival Elon Musk’s Neuralink. OpenAI is backing the venture through a USD 250 million fundraise at an USD 850 million valuation. The company aims to build high-bandwidth brain interfaces. Altman will not hold an operational role.

HK bourse to delist Evergrande shares

just now
AP News
China Evergrande will be delisted from the Hong Kong Stock Exchange on August 25 after 18 months of suspended trading. The liquidation-bound developer faces USD 45 billion in debt claims, while liquidators have recovered just USD 255 million in assets. The company is not appealing the decision.

China chip investment dips 9.8%

just now
SCMP
China’s semiconductor investment reached RMB 455 billion in H1 2025, down 9.8% YoY, with wafer production accounting for 51% of total spending. While chip design and testing declined sharply, equipment investment rose 53%. The period also saw growing interest in high-performance alternatives to traditional silicon-based materials.

TSMC to phase out six-inch wafers

just now
IT Zhijia
TSMC said it will phase out six-inch wafer production over the next two years and consolidate eight-inch capacity to improve operational efficiency. The move, approved by its board as part of a long-term strategy, will not affect previously disclosed financial targets. TSMC said it will ensure a smooth transition for customers.

Romoss resumes hiring despite shutdown

just now
Jiemian News
Romoss has resumed hiring despite a six-month production halt announced in July following a mass recall of nearly 500,000 power banks over fire risks. New job postings appeared days after its equity stake in a materials subsidiary was frozen. Regulatory probes, store closures, and leadership reshuffles continue.

Tencent Music lifts earnings in Q2

just now
Tencent Music
Tencent Music reported Q2 2025 revenue of RMB 8.44 billion, up 17.9% YoY, with net profit rising 43.2% to RMB 2.41 billion. Music subscription revenue grew 17.1%, while ARPPU rose to RMB 11.7. Paid memberships surpassed 15 million, driven by exclusive albums, early ticket access, and enhanced perks. The company also expanded concerts and artist collaborations.
See All

Icon for Editor’s PicksEditor’s Picks

Insights

From dominance to doubt: How Nvidia fumbled its shot at powering China’s cars

Once the go-to for in-vehicle chips, Nvidia is facing defections from Chinese carmakers amid delays, performance setbacks, and cultural disconnect.

11 mins read
  • Insights

    Meituan scrambles on “Super Saturday” as Taobao Shangou tops 80 million daily orders

    11 mins read

Venture RoundupVenture Roundup

  • News

    Deals in brief: Naluri and Prefer raise funding, Antler invests in seven AI startups, six China deals, and more

    5 mins read
    • See All

    Automaker InsightsAutomaker Insights

    • See All

    Retail and CommerceRetail and Commerce

    • See All

    Icon for Casual ChroniclesCasual Chronicles

    100 AI Creators100 AI Creators

    • See All