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What we know so far about Varsapura, Hoyoverse’s next game

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Pulses

GoTo nominates Hans Patuwo as CEO

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GoTo
GoTo has nominated Hans Patuwo to become CEO, pending approval at a December 17 shareholder meeting . He would replace Patrick Walujo, who has led the company since June 2023. GoTo said the transition follows a structured succession process and highlighted Hans’s experience across Gojek, GoPay, and on-demand services.

JD’s supply chain arm begins IPO push

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Bloomberg
Jingdong Industrials, JD.com’s supply chain technology unit, has begun investor education meetings for a Hong Kong IPO that could raise about USD 500 million, according to people familiar with the matter. Approved by Chinese regulators in September, the unit plans to use proceeds for AI upgrades, supply chain expansion, and future investments and acquisitions.

EHang completes Qatar flight demo

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36Kr Chuhai
EHang has completed a downtown Doha demonstration of its EH216-S autonomous passenger aircraft, flying point-to-point between Doha Port and Katara Cultural Village with support from Qatar’s transport and aviation regulators. The eight-minute route will inform policy development and precedes phased commercial plans for air taxi corridors and supporting infrastructure.

China expands trade ties with Tajikistan

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Reuters
China will expand imports of Tajik agricultural products and support Chinese investment in the country, said foreign minister Wang Yi during a visit to Dushanbe. He thanked Tajikistan for its support on China’s core interests and called for deeper cooperation in mineral development and bilateral security patrols.

Xiaomi open-sources MiMo-Embodied

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SCMP
Xiaomi has open-sourced MiMo-Embodied, a vision-language model that spans embodied AI and autonomous driving and has shown strong benchmark performance across planning and perception tasks. The launch follows recent AI-focused hires and comes as Xiaomi scales EV production and reports rising revenue and profit from newer businesses.

Sanzitang enters Sephora stores

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Jiemian News
Sanzitang, a Chinese eye makeup brand that went viral on Douyin, has entered Sephora with five products priced at RMB 49.9–59.9, though some online listings run as low as RMB 29.9. Its “two-prong” eyebrow pencil has sold more than 1.6 million units on Douyin and 4.6 million across platforms. Sephora said it will continue partnering with similar brands to broaden its assortment.

Moonshot AI nears new funding

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WSJ
Moonshot AI is in talks with investors including IDG Capital and Tencent on a funding round that could raise a nine-figure USD sum at a valuation of about USD 4 billion. The firm aims to close the deal by year’s end and has denied giving investors any IPO timeline. Moonshot is also expanding its Kimi model lineup with new open-source releases.

Canva signals “imminent” IPO

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Bloomberg
Canva COO Cliff Obrecht said an IPO is “probably imminent in the next couple of years,” following the acquisition and free launch of the Affinity design suite to broaden its reach among professional users. Affinity has drawn about two million downloads in two weeks, adding to Canva’s reported eight years of profitability, USD 3.5 billion in annualized revenue, and 260 million users.

US debates China chip access

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Bloomberg
US officials are weighing whether to allow Nvidia to export its H200 chips to China, a potential shift in semiconductor controls that remain central to national security policy. No decision has been made. The debate follows Nvidia’s lobbying and comes as China encourages firms to adopt domestic processors while opposing US curbs on advanced chips.

Huawei unveils Flex:ai system

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SCMP
Huawei has launched Flex:ai, an open-source orchestration tool built on Kubernetes that it says can boost AI processor utilization by about 30%. The system slices GPUs and NPUs into virtual units and reallocates idle compute across clusters. Huawei presented the release as part of its push to strengthen domestic AI capabilities through software-driven efficiency gains.

Tencent invests in Ubisoft unit

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Reuters
Tencent has finalized its EUR 1.16 billion investment in Ubisoft’s Vantage Studios for a 26.32% stake at a EUR 3.8 billion valuation. Ubisoft retains full control under terms that restrict Tencent from selling for five years and require Ubisoft to maintain majority ownership for at least two. Change-of-control provisions govern future buybacks or forced sales.

Trip.com posts Q3 profit surge

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36Kr
Trip.com Group reported Q3 2025 revenue of RMB 18.3 billion, up 16% YoY, while net profit reached RMB 19.9 billion on gains from investment disposals rather than core operations. Hotel bookings contributed RMB 8 billion as operators facing fragmented competition and mobile-first demand relied more heavily on online travel agencies.

Ant’s LingGuang tops one million downloads

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Ant Group
LingGuang, Ant Group’s multimodal AI assistant, exceeded one million downloads four days after its November 18 launch . The tool interprets language, images, audio, and data to produce 3D models, animations, interactive maps, and flash programs, using a modular design that streamlines information access and task processing.

GAC, Huawei launch new EV brand

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Jiemian News
GAC and Huawei have launched Qijing, a high-end EV brand offering cars priced above RMB 300,000 and jointly defined from design through launch using Huawei’s development systems. The first model, due in June next year, targets younger buyers focused on design and driving performance, giving GAC a new entry into the premium segment as it restructures after recent losses.

CATL co-founder sells 1% stake

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SCMP
CATL co-founder Huang Shilin has sold a 1% stake for RMB 1.7 billion, transferring 45.6 million A shares to 16 investors at a small discount to the market price. He retains more than 9% of the company, whose shares have rallied on technology advances and overseas growth as CATL delivered 297.2 GWh of EV batteries in the first nine months.

Unitree, Star Plus form joint venture

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Nikkei Asia
Unitree Robotics and Star Plus Legend have formed an equal-stake joint venture to develop bipedal and quadrupedal robots built around character IP. The companies plan to combine Unitree’s robotics technology with Star Plus' content expertise and explore commercial formats such as musical performances to make consumer robots more personable and versatile.

BYD launches Atto 2 DM-i in Barcelona

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BYD
BYD has unveiled its Atto 2 DM-i hybrid car model in Barcelona, offering up to 90 kilometers of electric-only driving and a total range of about 1,000 kilometers through a 1.5-liter engine that supports the motor. The launch also included the fully electric Atto 2 Comfort, expanding BYD’s compact SUV lineup in Europe.

KKR starts raising fifth Asia fund

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Reuters
KKR is seeking USD 15 billion for its fifth Asia private equity fund, sources said, with the final size potentially exceeding the target. The raise comes amid rising regional deal activity and follows more than USD 7.3 billion returned from KKR’s Asia portfolio this year, alongside recent exits in Japan and India and continued fundraising by global peers.

Lenovo plans “AI super agent” launch

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SCMP
Lenovo will introduce a global “personal AI super agent” in January after posting Q2 revenue of USD 20.5 billion, up 15% YoY, and a 5% profit decline to USD 340 million. The company added its long-term supply contracts may help offset rising memory chip prices.

ByteDance stake draws USD 480 billion valuation

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Bloomberg
Capital Today purchased a ByteDance stake at a valuation of about USD 480 billion after a competitive auction for shares held by Bank of China Group Investment. The USD 300 million deal, well above ByteDance’s recent buyback levels, signals strong investor demand as the company advances its AI businesses and faces US negotiations over TikTok ownership.
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Events

GITEX Global 2025 wraps in Dubai with strong turnout and new editions on the horizon

The 45th edition of GITEX Global and its sister event, Expand North Star, drew tens of thousands of participants to Dubai.

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