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

Features

Not Chanel, not Dior: This Chinese perfume brand is charging top dollar and selling out

11 mins read

Pulses

Forever 21 makes fourth return to China

just now
Jiemian News
Forever 21 is making a fourth attempt to reenter the Chinese market, this time through a partnership with a firm partly owned by e-commerce platform Vipshop. Supported by new marketing and online storefronts, the brand is seeking to regain relevance in a crowded fast fashion landscape but faces hurdles in brand cohesion and offline growth.

Mexico hikes taxes on small imports

just now
Bloomberg
Mexico has raised import taxes on small e-commerce purchases from countries without trade agreements, increasing the rate to 33.5%. The change affects goods from China, impacting retailers like Shein and Temu. The move is seen as part of Mexico’s strategy to ease US trade tensions while boosting revenue and protecting local industry.

Xiaomi sees strong demand for AI glasses

just now
SCMP
Xiaomi has reportedly sold 50,000 units of its new AI glasses since their June launch and could reach annual sales of over five million pairs within three years, according to a company executive. Priced at RMB 1,999, the glasses feature video capture, translation, and integration with Xiaomi’s smart ecosystem.

CATL-Hithium dispute deepens over trade secrets

just now
Jiemian News
The dispute between battery makers CATL and Hithium has escalated after a former Hithium executive was detained in Ningde over alleged trade secret violations. CATL filed the complaint and submitted evidence to police. The case is separate from a pending unfair competition lawsuit and comes as Hithium faces scrutiny ahead of its Hong Kong IPO hearing.

Groq’s valuation doubles in latest fundraise

just now
Bloomberg
Groq is set to raise about USD 600 million in a new round led by VC firm Disruptive, valuing the AI chip startup at roughly USD 6 billion. The deal will double Groq’s valuation and bring its total funding to over USD 2 billion, even as it revises its 2025 revenue outlook.

Trump to decide on US-China tariff pause

just now
CNBC
A potential extension of the US-China tariff pause won’t be finalized without President Donald Trump’s approval, officials said after the latest round of talks in Stockholm on July 29. The current truce is set to expire August 12, after which tariffs could snap back to earlier levels.

Solar deployment in China drops in June

just now
Semafor
China’s solar installations fell from nearly 100 GW in May to under 15 GW in June as developers lost access to fixed-rate subsidies. Authorities are also tightening price controls on solar products to curb bankruptcies and stabilize a market strained by overcapacity and fierce competition.

Anthropic nears USD 5 billion raise

just now
Bloomberg
Anthropic is in advanced talks to raise up to USD 5 billion in a new funding round led by Iconiq Capital, potentially valuing the startup at USD 170 billion. The company has reached USD 5 billion in annual recurring revenue and aims to hit USD 9 billion by year's end. Amazon, GIC, and the Qatar Investment Authority are among those in talks to join.

Li Auto launches Li i8 electric SUV

just now
Li Auto
Li Auto has launched the Li i8, a six-seat electric SUV with dual-motor all-wheel drive, up to 720 kilometers of range, and 5C fast charging. The model features a proprietary drive system, LiDAR-based assisted driving, and a smart assistant powered by Mind GPT. Deliveries are set to begin August 20.

Alibaba unveils Wan 2.2 models

just now
Alibaba
Alibaba has launched Wan 2.2, a suite of open-source video generation models built on MoE architecture. The models enable high-quality cinematic video generation from text or images and promise significant improvements in motion control, visual detail, and computational efficiency.

HKMA to issue stablecoin licences in 2026

just now
Reuters
The Hong Kong Monetary Authority (HKMA) said the first batch of stablecoin licences will be issued in early 2026, following the city’s new regulatory framework taking effect on August 1. Only a limited number of licences will be granted initially, as the HKMA urges caution and warns against unrealistic market expectations.

Temu resumes US ad push after tariff pause

just now
Ebrun
Temu has resumed major ad spending in the US after tariff concerns triggered a sharp pullback in April. By late July, it was running over 10,000 ads on Meta and hundreds on Google, fueling a rebound in app downloads and site traffic. Temu has also reclaimed top spots in US shopping app rankings.

Microsoft, OpenAI near deal on future access

just now
Bloomberg
Microsoft and OpenAI are in advanced talks to revise their partnership, aiming to secure Microsoft’s access to OpenAI technology even if the latter achieves artificial general intelligence (AGI). The renegotiation, covering equity terms and IP rights, is central to OpenAI’s transition to a for-profit model.

China’s tea brands slow store growth in 2025

just now
Yilan Shangye
Chinese tea brands are shifting from rapid expansion to quality-focused growth in 2025. Store openings have slowed, as market leaders like Mixue Bingcheng and GoodMe consolidate share while others close locations. In the US, brands are reportedly tailoring formats to local tastes as they target unmet demand and expand their global footprint.

Hon Hai halts trading ahead of disclosure

just now
Bloomberg
Hon Hai Precision, known globally as Foxconn, has suspended trading of its shares pending the release of market-sensitive information. The Apple iPhone assembler is expected to make an announcement on July 30 and will apply to resume trading afterward. The company did not provide immediate comment.

WeRide, Uber expand coverage in Abu Dhabi

just now
WeRide
WeRide and Uber have expanded their robotaxi service in Abu Dhabi to Al Reem and Al Maryah Islands, now covering half the city’s core areas and highway routes to Zayed International Airport. The fleet has tripled since December 2024, with broader service and public access to fully driverless rides expected later this year.

TikTok Shop narrows gap with Shopee in Vietnam

just now
VnExpress
TikTok Shop’s GMV share in Vietnam rose to 39% in H1 2025, up from 29% the year before, narrowing Shopee’s lead to 58%, according to Metric. Growth was driven by live streams, affiliate marketing, and official brand stores, which accounted for 29% of revenue despite comprising just 3.4% of stores. Shopee and Lazada have responded with free shipping offers.

Gobi Partners invests in NanoSkunkWorkX

just now
Gobi Partners
NanoSkunkWorkX, a Malaysian deep tech startup developing cost-effective graphene integration systems, has secured an undisclosed investment from Gobi Partners through the Gobi Dana Impak Ventures (GDIV) fund, backed by Khazanah Nasional Berhad. The funding will be used to scale its graphene technologies for clean energy and semiconductor applications.

UBTech completes record share sale

just now
36Kr
UBTech Robotics has completed a HKD 2.41 billion share placement, issuing 30.16 million shares in what it calls the largest equity raise by a listed humanoid robot company. More than HKD 1 billion will go toward supplier payments, with the rest supporting scaled deliveries and capacity expansion.

Insta360 debuts new drone brand

just now
IT Zhijia
Insta360 has launched Antigravity, a new drone brand, with its first panoramic drone set for public testing in August. The model supports 360-degree video capture in 8K and is expected to meet EU C0 drone standards. Leaked images point to both racing-style and compact aerial designs in development.
See All

Icon for Editor’s PicksEditor’s Picks

Insights

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

A single Saturday saw Taobao Shangou, Meituan, and JD.com log a combined 200 million orders, testing subsidy strength, logistics, and supply chains in real time.

11 mins read
  • Features

    MiniMax finds its “aha moment,” and a way to challenge the AI status quo

    7 mins read

Venture RoundupVenture Roundup

  • News

    Deals in brief: Respiree raises Series A funding, HeyMax expands with Krip acquisition, latest China deals, and more

    4 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