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WeChat opens the door to phone-based AI agents, on its own terms

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Midea pauses major acquisitions

just now
TMTPost
Midea will pause major acquisitions for the next three years, with management pledging to return net profits to shareholders. Chairman Fang Hongbo said the company is focusing on internal efficiency and new growth drivers as it moves away from aggressive capital expansion.

Xiaomi launches new MiMo mode

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36Kr
Xiaomi launched MiMo-V2.5-Pro-UltraSpeed mode on June 8. The update optimizes the model inference system to reach speeds of 1,000 tokens per second using standard GPUs, without requiring custom chips or sacrificing model performance.

Baidu opposes US military-linked list

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Lianhe Zaobao
Baidu said it will take all available measures to be removed from a US list of companies allegedly supporting China’s military. The US Department of Defense updated the list on June 8 to include Baidu, Alibaba, BYD, and others. While the designation does not trigger immediate sanctions, it restricts US military procurement from listed firms.

CATL connects Bulgaria storage project

just now
Jiemian News
CATL and Solarpro have connected a 601 MWh energy storage project in Bulgaria to the grid. The project reportedly increases Bulgaria’s total energy storage capacity by about 15%, supporting the integration of wind and solar power. The companies plan to expand their collaboration over the next two years.

DeepSeek trains model on Ascend 910C

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TMTPost
DeepSeek has trained its DeepSeek-V4-Pro model using Huawei’s Ascend 910C AI computing cluster. The project, conducted by a research team in Shenzhen, is being positioned as evidence that Chinese-made hardware can support large model training.

StepFun plans Hong Kong IPO

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TMTPost
StepFun plans to file for a Hong Kong IPO by the end of June. The AI firm recently completed a Series B+ round of more than RMB 5 billion, bringing its total funding to nearly USD 2.5 billion. It aims to become China’s third publicly traded large language model developer, following recent pivots toward agent-based models and partnerships with companies including Geely and Oppo.

CaoCao Mobility plans AI division

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IT Zhijia
CaoCao Mobility plans to establish an independent AI division as it seeks to become an AI-native company. The ride-hailing platform has posted a job opening for a chief AI officer to lead its strategy, technical roadmap, and companywide AI integration. The move follows a strong 2025, when CaoCao reported RMB 20.2 billion in revenue.

US adds tech giants to military list

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Reuters
The US has added Alibaba, Baidu, and BYD to a list of companies it identifies as aiding China's military development. The update replaces an early 2025 list and includes major technology firms deemed critical to military and industrial development.

Kimi launches desktop agent tool

just now
iFanr
Moonshot AI's Kimi has launched Kimi Work, a desktop application that lets users deploy clusters of AI agents to automate complex workflows. The tool uses an “agent swarm” model for tasks including file organization, browser automation, and financial data analysis, allowing users to coordinate multiple AI agents for professional research and document production.

Chery denies India tech transfer plans

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DoNews
Chery said on June 8 that it has no plans for direct investment or technology transfers in India. The company said its partnership with Tata Group is limited to supplying vehicle components, denying media reports about platform licensing or technology exports.

CATL unveils fast-charging EV battery

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SCMP
CATL has unveiled a new EV battery said to charge from 10% to 98% in under 6.5 minutes. The technology is aimed at supporting global sales growth for Chinese EV manufacturers.

Yijing X9 debuts Huawei optical tech

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DoNews
Yijing has released the X9, the first vehicle to feature Huawei’s full suite of Qiankun automotive optical technologies. Developed through a joint investment of more than RMB 10 billion and a 5,000-person team, the flagship model uses Huawei smart headlights, laser projection, and augmented reality head-up display systems.

Heytea opens first overseas tea bar

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36Kr
Heytea has opened its first overseas tea bar in Manhattan’s Upper East Side, New York. The brand previously established the concept in Beijing, Guangzhou, Shenzhen, and Foshan.

Transsion profit drops 53% in 2025

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Transsion
Transsion Holdings reported a 53.49% decline in 2025 net profit to RMB 2.58 billion, as revenue fell 4.5% to RMB 65.59 billion. Facing increased competition in African smartphone markets, the company is expanding into energy storage through new brand launches and its existing distribution network.

Seesaw Coffee operator faces bankruptcy

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Jiemian News
The operator of Seesaw Coffee is facing bankruptcy liquidation petitions filed by creditors. The boutique coffee chain, once valued at RMB 1 billion, now operates only 34 stores in China. The company has faced multiple legal disputes, including unpaid debts and restricted consumption orders against founder Wu Xiaomei.

Doubao plans professional version

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TMTPost
ByteDance's Doubao plans to launch a professional version covering software development, data analysis, design, process automation, financial analysis, and scientific research. The move aims to shift the AI assistant from a casual tool to a workplace productivity platform, mirroring OpenAI’s Codex strategy of monetizing professional-grade agent capabilities.

GLB files for Hong Kong IPO

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DoNews
GLB Intelligent Power Technologies has filed for an IPO on the Hong Kong Stock Exchange. The company reported 2025 revenue of RMB 3.63 billion, with 87.2% of its income coming from its largest shareholder, Geely. GLB provides electric powertrain and high-voltage power supply solutions for the EV sector.

Origin Quantum raises RMB 3 billion

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DoNews
Origin Quantum has completed a pre-IPO funding round of nearly RMB 3 billion, valuing the company at RMB 21 billion. The round was led by China North Industries Group Corporation. Origin Quantum plans to use the capital to develop 1,000- and 10,000-qubit quantum chip pilot lines and advance production of its next-generation superconducting quantum computers.

Gree shareholder sells RMB 1.66 billion stake

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TMTPost
Gree Electric’s largest shareholder, Zhuhai Mingjun, sold 42.79 million shares on June 4, 2026, generating about RMB 1.66 billion. The company said the divestment is intended to repay bank loans. Following the transaction, Zhuhai Mingjun and its concerted party, Dong Mingzhu, hold a combined 17.35% stake in the appliance manufacturer.

ByteDance denies plans to build cars

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DoNews
ByteDance issued a statement on June 6 denying plans to manufacture vehicles or launch an automotive brand. The company clarified that Saidou is not affiliated with it and that its automotive partnerships are limited to providing technical services, including the Doubao model, related solutions, and smart cockpit technology.
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