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Joyin races to rewire homes with emotionally aware robots

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Pulses

Meituan expands drone delivery in Dubai

just now
Bloomberg
Meituan plans to launch two to three new drone delivery routes in Dubai in H2 2025, expanding its overseas footprint after debuting the service there in December 2024. The new routes are expected to operate along the Dubai Marina. Meituan is also adding routes in Hong Kong and Shanghai under its Keeta brand, anticipating that 10–15% of global instant deliveries will eventually go by air.

Nintendo sees shortages as Switch 2 debuts

just now
CNBC
The Switch 2, Nintendo's follow-up to its hit console, went on sale globally on June 5. Early demand outpaced supply in Japan and China, with US retailers reporting sellouts. Priced at USD 449, it is Nintendo’s most expensive console yet. The company expects to sell 15 million units this fiscal year, though analysts say that may be conservative amid US tariff uncertainty.        

Kling AI tops USD 100 million in ARR

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Kuaishou
Kuaishou’s Kling AI surpassed a USD 100 million annualized run rate in March 2025, just ten months after launch. Monthly subscription bookings topped RMB 100 million in both April and May. The latest Kling AI 2.1 model features enhanced visuals, improved semantic precision, and 1080p support, and now serves over 10,000 global clients.

China scales back, Africa’s grid shifts

just now
Semafor
Chinese energy financing in Africa has dropped 85% since 2015, steering the continent toward private capital and clean energy, according to the IEA. Public and DFI funding fell to USD 20 billion in 2024, while private clean energy investment more than doubled to USD 40 billion, led by solar power and EVs.

Builder.ai files for bankruptcy in US

just now
Bloomberg
Builder.ai filed for Chapter 7 bankruptcy in Delaware after creditors seized most of its cash. Once valued at USD 1.5 billion, the Microsoft-backed firm had overstated 2024 sales by 300% and was linked to alleged fictitious deals with VerSe. Despite a board shakeup and audit, the startup collapsed after raising USD 450 million. Its founder stepped down in February.

US, China to resume high-level talks

just now
CGTN
Chinese President Xi Jinping and US President Donald Trump spoke by phone on June 5 and reaffirmed their commitment to the Geneva trade agreement. Xi called for steady leadership and urged the US to lift punitive measures, while Trump voiced support for deeper engagement. Both sides agreed to hold another round of talks soon.

Coinbase CEO eyes embryo gene editing

just now
MIT Technology Review
Coinbase CEO Brian Armstrong plans to fund a startup focused on gene editing in human embryos, a first for the private sector in a field long shaped by the CRISPR controversy. He is recruiting scientists to apply base editing, a DNA-altering method considered more precise than earlier tools, to target genetic disease. The effort may test legal and ethical limits in the US.

FountainVest to cut Amer Sports stake

just now
Ebrun
FountainVest Partners plans to sell half its stake in Amer Sports for about USD 1.3 billion, reducing its holdings to 6.2%. The Chinese firm joined Anta, Tencent, and Chip Wilson in the 2018 acquisition. In Q1 2025, Amer’s revenue rose 23% YoY to USD 1.47 billion. Arc'teryx was a key driver, generating over USD 2 billion in 2024 sales.

Dianping tests curated food delivery

just now
Ebrun
Meituan’s Dianping app has launched a “premium delivery” feature in cities like Guangzhou and Shenzhen, showcasing top-rated, licensed vendors across six categories. Orders are completed in-app, with daily vouchers offered to boost usage. The update leverages Dianping’s review data to build a closed content-commerce loop.

“Cold core” tech may boost cylindrical EV batteries

just now
KrASIA
Talent New Energy has unveiled its "cold core" battery technology to improve fast charging and thermal management in cylindrical EV cells. Its 4695 and 50190 series support 6C charging, reaching 80% charge in nine minutes, and operate across extreme temperatures, addressing limitations of the cylindrical format.

Didi logs Q1 lift on rising transactions

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Didi
Didi posted a Q1 2025 profit of RMB 2.4 billion, nearly tripling YoY, driven by operating efficiency gains and a 22.5% rise in platform sales. Adjusted EBITDA more than doubled to RMB 3.1 billion. Transactions grew 13.4% to 4.25 billion, led by record daily rides in China, while international losses narrowed amid Latin America growth.

China tests dual-target weight drug

just now
Sixth Tone
China is preparing to approve mazdutide, its first domestically developed dual-target obesity drug, after Phase 3 trials showed nearly half of higher-dose patients lost at least 15% body weight. Created by Innovent Biologics, the drug activates both GLP-1 and GCGR receptors, enhancing metabolism and reducing liver fat. A launch is expected later this year.

Tesla deliveries slide amid rising EV rivalry

just now
SCMP
Tesla's Shanghai factory delivered 61,662 cars in May, down 15% YoY, marking an eighth straight monthly drop. With Chinese rivals like Xiaomi and BYD rolling out more affordable EV models, Tesla's market share is under strain despite incentives and the Model Y's top SUV status.

Shein faces EU complaint over “dark patterns”

just now
Reuters
Consumer group BEUC has filed a complaint with the European Commission accusing Shein of using “dark patterns” to drive excessive consumption. The fast fashion company allegedly deploys countdown timers, pop-ups, daily notifications, and gamified features to pressure users. Shein said it is cooperating with regulators but was denied a meeting with BEUC.

GrabCab to launch 40 taxis in July

just now
CNA
GrabCab will debut a 40-car taxi fleet in Singapore this July, offering perks to attract new and inactive vocational license holders. Perks include a "safe driving bonus," quota-based incentives, fuel discounts, and medical benefits. About 700–800 drivers have expressed interest. The firm joins five other licensed operators and has a three-year grace period to scale up.

China’s industrial hubs see cheaper power

just now
Bloomberg
Power prices in China’s industrial provinces have fallen to regulatory floors as coal costs plunge and renewable energy floods the grid. Jiangsu’s rate dropped 24% YoY while Guangdong saw an 8.3% cut, offering relief to export-heavy industries amid US trade pressure.

Temasek shifts strategy on startup risks

just now
Financial Times
Singapore’s Temasek is cutting exposure to early-stage startups, with 2024 commitments dropping to USD 509 million from USD 4.4 billion in 2021. The pullback follows rising interest rates and reputational hits from failed bets like FTX and eFishery, as the fund pivots to larger, later-stage deals with clearer IPO prospects.

Marubeni signs deal with China’s Envision Energy

just now
Nikkei Asia
Marubeni has signed its first long-term deal to purchase green ammonia from China’s Envision Energy, sourcing from an Inner Mongolia plant set to start commercial output in late 2025. The Japanese firm aims to supply clients across Northeast Asia as it scales low-carbon fuel offerings.

ChatGPT adds connectors and record mode

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OpenAI
OpenAI has launched new workplace tools for ChatGPT, including connectors to third-party apps and a record mode for meetings. Connectors provide instant access to company data from platforms like Dropbox, Google Drive, and Sharepoint, while record mode transcribes sessions and generates AI-powered notes, citations, and suggestions.

See-Mode exits to US firm RadNet

just now
Cocoon Capital
Nasdaq-listed RadNet has acquired See-Mode Technologies, a Singapore-based startup using AI to improve radiology workflows. The firm began with a focus on stroke prevention and now supports imaging providers in the US, Canada, and Australia. Cocoon Capital, an early backer from 2018, marks a notable exit.
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