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With Zoopunk, TiGames joins a wave of Chinese game studios going global

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Pulses

Amazon in talks to invest in OpenAI

just now
The Information
Amazon is in discussions to invest about USD 10 billion in OpenAI, potentially valuing the ChatGPT maker at more than USD 500 billion, according to a source familiar with the matter. The talks follow a USD 38 billion cloud services deal between the companies and come as OpenAI prepares for a possible USD 1 trillion IPO.

EcoFlow eyes US listing

just now
Bloomberg
EcoFlow Technology, a Shenzhen-based portable battery maker backed by HSG and Hillhouse Investment, is considering a US IPO that could raise at least USD 300 million, according to people familiar with the matter. The company’s plans depend on regulatory approval in China and would represent a rare US listing by a Chinese firm.

China’s Biren eyes IPO amid chip push

just now
Reuters
Biren Technology, a Shanghai-based chipmaking startup, plans to raise about USD 300 million through a Hong Kong IPO that could launch as soon as this month, with trading expected in January. Backed by state-linked investors, Biren is part of China’s drive to build homegrown GPU alternatives amid US export restrictions on advanced chips.

Alibaba launches Wanxiang 2.6 model

just now
Sina
Alibaba has launched Wanxiang 2.6, an upgraded video generation model that supports roleplay, sound-driven motion, and multi-shot production, marking China’s first video AI model with character simulation. Designed primarily to support professional filmmaking and creative industries, the model offers enhanced visual fidelity and audio performance.

Baidu’s no-code tool hits 500,000 apps

just now
Sina
Baidu’s no-code platform Miaoda has reportedly generated more than 500,000 commercial applications across 200 use cases in just eight months. Baidu said over 80% of users are non-programmers, while more than 20,000 apps have integrated payment functions. Baidu claims the platform has created over RMB 5 billion in combined economic and efficiency value.

BYD, others win Singapore e-bus deal

just now
CNA
BYD has secured contracts worth SGD 105.8 million to supply 210 electric buses to Singapore’s Land Transport Authority. The order is part of a 660-bus electrification program, with deployments beginning in late 2026 as Singapore moves toward a fully "cleaner energy bus fleet" by 2040.

Xpeng begins Level 3 trials in Guangzhou

just now
IT Zhijia
Xpeng Motors has received a permit to test Level 3 autonomous driving in Guangzhou and has reportedly begun regular trials on designated highway routes. The company also announced its second-generation VLA system with Level 4 capabilities, which is scheduled for mass production in early 2026.

Musinsa opens first China store in Shanghai

just now
Jiemian News
South Korean fashion retailer Musinsa has opened its first Musinsa Standard store in China on Shanghai’s Huaihai Road, with a Musinsa Store to follow on Anfu Road. Backed by Anta Sports, the company plans to open over 100 stores across China by 2030 to drive expansion ahead of its planned 2026 IPO.

Xpeng to build EVs in Malaysia by 2026

just now
Nikkei Asia
Xpeng will begin local EV production in Malaysia in 2026 through a partnership with EP Manufacturing, marking a shift from exports to localized manufacturing. Vehicles will be semi-assembled at EP’s Malacca plant to tap Malaysia’s EV incentives and support Xpeng’s expansion across right-hand-drive markets in the ASEAN region.

Douyin tightens e-commerce content rules

just now
Shanghai Observer
Douyin E-commerce has tightened its content rules to curb creators who seek to profit from fake reviews, exposes, or counterfeit claims. Under new regulations effective February 1, 2026, accounts that post unverified or misleading content risk losing monetization and promotion privileges. The platform has already penalized several accounts for repeated violations.

RayNeo tops global AR glasses market

just now
Securities Times
RayNeo, a Chinese AR glasses maker, led the global market for the second straight quarter with a 24% share in Q3 2025, according to Counterpoint Research. Despite rising competition from Meta and Alibaba, RayNeo’s overseas sales rose nearly fourfold YoY across channels in more than 25 countries.

Huawei unveils Mate X7 and new devices

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Huawei
Huawei has rolled out a lineup of new premium devices, led by the foldable Mate X7, alongside the FreeClip 2 earphones, Watch Ultimate Design, and MatePad 11.5 S tablet. The company said the launch embodies its “Now Is Yours” philosophy, blending design, innovation, and user-centered experiences across devices.

Meituan halts Tuanhaohuo unit

just now
Sina
Meituan has suspended Tuanhaohuo, its B2C e-commerce business, to focus on developing new retail models, according to an internal memo. Launched in 2020, Tuanhaohuo explored parcel-based retail but fell behind in the shift toward quick commerce. Meituan said it will reassign affected staff as it expands its Shangou and Xiaoxiang Supermarket services nationwide.

Picea moves to take over iRobot

just now
iRobot
Shenzhen-based Picea Robotics will acquire US robot maker iRobot through a court-supervised process following a restructuring support agreement. The deal grants Picea full ownership, allowing iRobot to reduce its debt and continue operations. The pre-packaged Chapter 11 process is expected to conclude by February 2026.

China unveils new bond plan for 2026

just now
Bloomberg
China’s finance ministry plans to issue ultra long-term special government bonds in 2026 to fund national strategies, security initiatives, and large-scale upgrades in equipment and consumer trade-ins. The ministry also pledged to curb local debt and prevent the buildup of new hidden liabilities.

Transsion targets Hong Kong dual listing

just now
Semafor
Transsion, Africa’s largest smartphone maker, plans to raise up to USD 1 billion through a Hong Kong IPO after filing this month. Valued at about USD 13 billion in Shanghai, the Shenzhen-based firm aims to attract global investors and may use the funds to expand into EV mobility in Africa.

SpaceX readies for possible 2026 IPO

just now
WSJ
SpaceX is preparing for a potential 2026 IPO, CFO Bret Johnsen reportedly told employees in a memo, while noting that timing remains uncertain. A new internal share price of USD 421 values the company at about USD 800 billion. Proceeds could support Starship launches, space-based AI data centers, and Mars missions as SpaceX expands its Starlink network.

Huawei doubles down on AI research

just now
SCMP
Huawei has set up a new foundation model unit under 2012 Laboratories, its R&D arm, to advance large-scale AI development. The company is hiring global talent and reshaping its cloud division to focus on AI. Founder Ren Zhengfei said Huawei will prioritize applying AI in industry, agriculture, and technology over the next three to five years.

Pinduoduo faces probe, execs detained

just now
Nikkei Asia
Pinduoduo is under scrutiny after three executives were detained for allegedly scuffling with market regulators during a food safety inspection at its Shanghai office. One official was said to be injured, according to sources. The company denied the account, calling it “false.”

MiniMax plans Hong Kong IPO for R&D

just now
SCMP
MiniMax, backed by Alibaba and Tencent, plans to channel funds from its planned Hong Kong IPO into R&D and global expansion. With about 70% of revenue generated overseas, the firm aims to list as early as January. MiniMax develops multimodal models and ranks among China’s leading new generative AI players.
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