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Lenovo profit slips in latest quarter as restructuring offsets gains

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OpenAI flags DeepSeek to US panel

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Bloomberg
ChatGPT maker OpenAI has told US lawmakers that DeepSeek used distillation and “new, obfuscated methods” to extract outputs from US-made AI models to train its R1 chatbot, according to a memo. The company said accounts tied to DeepSeek sought to bypass safeguards via third-party access routes.

Grab buys US fintech firm Stash

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Grab
Grab, operator of the eponymous Southeast Asian app, has signed definitive agreements to acquire 100% of US digital investment platform Stash, valuing an initial 50.1% stake at a USD 425 million enterprise value at closing, with the remainder to be acquired over three years. The deal, expected to close in Q3 2026, expands Grab’s fintech operations beyond Southeast Asia.

E-Power to form US grid venture

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E-Power
E-Power, formerly Sunrise New Energy, has signed an MoU with Kehui International to establish a US joint venture focused on microgrids for AI compute and power automation. E-Power will hold at least 55% and invest USD 1.5 million, while Kehui contributes patented technology with exclusive rights in the US and Canada. The venture targets USD 3 million in sales within three years.

WeRide, Uber launch Abu Dhabi robotaxis

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WeRide
WeRide and Uber have launched commercial robotaxi services in downtown Abu Dhabi, marking the emirate’s first deployment in its city center. The network covers about 70% of core areas, with the fleet quadrupling since December 2024. Rides are available via the Uber app under a phased rollout toward fully driverless operations.

ByteDance unveils Seedance 2.0

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ByteDance
ByteDance has launched Seedance 2.0, a multimodal generation model that supports text, image, audio, and video inputs. The system enables up to 15-second multi-shot outputs with dual-channel audio, expanded editing, and video extension features, and is available on Dreamina, Doubao, and Volcano Engine’s Model Ark.

Alibaba’s Qwen logs 120 million orders

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IT Zhijia
Alibaba said its Qwen app completed more than 120 million orders in six days during a Lunar New Year campaign backed by up to RMB 3 billion in subsidies, after users made 4.1 billion requests. Alipay’s “AI Pay” also surpassed 120 million transactions in a week.

ByteDance plans AI chip with Samsung

just now
Reuters
ByteDance is developing an AI inference chip and negotiating with Samsung Electronics for manufacturing and memory supply, with sample units targeted by end-March, sources said. The company plans to produce at least 100,000 chips this year, potentially scaling to 350,000. ByteDance said the reported in-house chip details are inaccurate.

Xiaomi halts first-gen SU7 output

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Sina
Xiaomi has discontinued production of the first-generation SU7, with the final unit shipped, founder Lei Jun said. The new SU7 will begin arriving in stores from February 13 ahead of an April launch. The company delivered more than 410,000 vehicles in 2025 and has set a 2026 sales target of 550,000 units.

BYD overtakes Ford in global sales

just now
Bloomberg
BYD reported 4.6 million vehicle sales in 2025, surpassing Ford’s nearly 4.4 million as the US automaker’s wholesale numbers fell almost 2%. The result lifts BYD to sixth in global rankings, one spot ahead of Ford. Toyota remained in first place for a sixth straight year with 11.3 million units sold, up 4.6% YoY.

Li Auto to launch “store partner” plan

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National Business Daily
Li Auto confirmed it will roll out a "store partner" program after the 2026 Lunar New Year, granting store managers greater decision-making power and replacing single sales targets with metrics covering sales, profit, and user satisfaction. It is also evaluating the closure of low-efficiency stores opened during its expansion phase.

Pop Mart sells 400 million units in 2025

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Pop Mart
Pop Mart said it sold more than 400 million units worldwide in 2025 across all IPs and categories, with The Monsters alone exceeding 100 million units. The figures were released in a voluntary board announcement.

Xpeng taps Antom for charging payments

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Xpeng
Xpeng launched in-app EV charging payments in Hong Kong on February 9 through Ant International’s Antom, its first global payment partner for vehicle charging. Drivers can start, stop, and pay for charging in the Xpeng app using AlipayHK, with cards and regional wallets to be added as the rollout expands across Southeast Asia and other markets in 2026.

China cloud market tops USD 13 billion

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Omdia
Mainland China’s cloud infrastructure services market grew 24% YoY to USD 13.4 billion in Q3 2025, marking a second consecutive quarter of growth above 20% as AI adoption lifted demand for compute, storage, and database services. Alibaba Cloud led the market with a 36% share, followed by Huawei Cloud at 16% and Tencent Cloud at 9%.

BYD shifts strategy in Japan

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Nikkei Asia
BYD is expanding its Japan lineup with plug-in hybrid vehicles after revised clean energy subsidies eroded its price competitiveness for pure EVs. The move reflects the automaker’s effort to adapt its strategy as it seeks growth outside China.

Montage shares soar on Hong Kong debut

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CNBC
Shares of Chinese chip designer Montage Technology surged more than 60% after its Hong Kong debut on February 9, following a USD 902 million IPO priced at the top of the range.

Carro adds Dongfeng cars to lineup

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Carro
Carro has been appointed an authorized dealer for Dongfeng Motor, opening exclusive showrooms in Singapore and Malaysia. The partnership expands Carro’s retail strategy for new cars and brings Dongfeng EV models to customers with integrated sales, financing, and after-sales support.

Pony.ai, Toyota begin robotaxi rollout

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Pony.ai
Pony.ai said the first bZ4X robotaxi it co-developed with Toyota has rolled off the production line, marking a step toward mass commercial deployment. The companies plan to produce more than 1,000 vehicles in 2026 as Pony.ai expands robotaxi services across China’s major cities.

Luckin opens 30,000th store in China

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Luckin Coffee
Luckin Coffee has opened its 30,000th store in Shenzhen, debuting its first “origin flagship” focused on global sourcing and premium coffee. The milestone highlights the chain’s expanding scale and ambitions, while the new format reflects a shift beyond rapid expansion toward higher-end offerings.

Innovent, Eli Lilly sign drug deal

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Innovent Biologics
Innovent Biologics said it has reached an agreement with Eli Lilly to co-develop new oncology and immunology medicines. The deal includes USD 350 million upfront and up to USD 8.5 billion in milestone payments, with Innovent leading early development in China and Eli Lilly holding global rights outside Greater China.

Aito signs UAE distribution deal

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Aito
Aito has signed a partnership agreement with Performance Plus Motors, a subsidiary of Abu Dhabi Motors, to sell its high-end vehicles in the UAE. The deal covers sales, delivery, and after-sales service, supporting Aito’s entry into the Middle East as its models complete local certification and begin test drives.
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