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Road to Empress tops one million sales, revives China’s interactive film genre

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Pulses

Leju Robotics raises USD 200 million ahead of IPO

just now
Bloomberg
Shenzhen-based Leju Robotics has raised more than USD 200 million ahead of a planned listing, attracting investors including CITIC Goldstone Investment and Shenzhen Investment Holdings. The funds will support new robot development and production scaling as Leju deepens partnerships with Huawei, Alibaba, Haier, and other firms.

Innovent, Takeda ink USD 11.4 billion deal

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WSJ
Chinese drugmaker Innovent Biologics has signed a partnership with Japan’s Takeda Pharmaceutical worth up to USD 11.4 billion to co-develop and commercialize two cancer therapies. The deal includes USD 1.2 billion upfront, as much as USD 10.2 billion in milestone payments, and a USD 100 million equity investment.

Baidu partners PostBus to launch AmiGo service

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Baidu
Baidu’s Apollo Go has partnered with Swiss transport operator PostBus to launch AmiGo, an autonomous ride-hailing service in Switzerland’s eastern cantons. Trial runs are set to begin in December 2025 using Baidu’s Level 4 RT6 EVs, with fully driverless operations targeted for early 2027. The partnership marks Apollo Go’s European debut and supports Switzerland’s smart mobility goals.

Shengshu unveils rival to OpenAI’s Sora

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SCMP
Beijing-based Shengshu Technology has unveiled Vidu Q2, a video generation model designed to rival OpenAI’s Sora. The system enables users to create realistic, controllable clips by merging up to seven reference images into coherent scenes. Available globally, the model supports multiple video formats as Shengshu expands its multimodal AI portfolio.

Unitree unveils Go2 education platform

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SCMP
Unitree Robotics has launched an education platform that trains students to operate, maintain, and develop its Go2 quadruped robots. The in-person program combines simulation, hands-on training, and competition to build robotics skills and expand the talent pipeline, aligning with China’s push to accelerate AI and robotics education nationwide.

Ming Yang plans world’s largest wind turbine

just now
Bloomberg
Chinese turbine maker Ming Yang Smart Energy Group plans to build the world’s largest floating wind turbine: a 50-megawatt, dual-rotor model nearly twice the size of current designs. Mass production is slated to begin next year in Guangdong, with costs targeted at below RMB 10,000 per kilowatt.

Manus, Heicoders launch agentic AI course

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Manus
Manus and Heicoders Academy have launched what they say is Singapore’s first hands-on course in building and deploying AI agents. The six-week program incorporates Manus’ platform into Heicoders’ curriculum to train professionals in agent design, planning, and automation. Graduates earn a local certification and complete applied projects aligned with Singapore’s AI readiness goals.

Sea targets tenfold growth through AI

just now
Bloomberg
Sea founder Forrest Li reportedly told staff the company could reach USD 1 trillion in valuation as it accelerates its use of AI. In a memo marking Sea’s eighth year as a listed firm, Li compared AI’s rise to earlier tech revolutions but cautioned that success will demand discipline and precise execution. His remarks come as Sea expands across Southeast Asia and Brazil.

Weibo suspends influencers over false posts

just now
Jiemian News
Weibo said it has suspended several automotive-focused influencers for spreading false or defamatory posts about companies, imposing 90-day bans and restricting ad revenue for six months. The action is part of a campaign by the Cyberspace Administration of China to curb online smear campaigns and protect business reputations.

Haier weighs Hong Kong IPO for Cosmoplat

just now
Bloomberg
Haier is reportedly weighing a Hong Kong IPO for its IoT unit, Cosmoplat, that could raise about USD 500 million, according to people familiar with the matter. The company is working with CICC and HSBC on the potential listing, which could take place in 2026.

CATL earnings rise as Europe push advances

just now
Bloomberg
CATL reported a 41% jump in Q3 profit to RMB 18.5 billion, in line with analyst estimates. The Chinese battery maker maintained a 36.8% share of global EV battery capacity, according to SNE Research. The company is expanding in Europe with new production in Hungary amid slowing EV demand and rising geopolitical risks.

Qiandao faces backlash over refund dispute

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Jiemian News
Qiandao, a collectibles platform, has denied involvement in a viral refund dispute in which a seller demanded a video of a parent slapping a child to approve a refund. The company said the messages came from a private transaction unrelated to its services and pledged to strengthen consumer safeguards and moderation.

BYD adds long-range edition to Bao 5 lineup

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CarNewsChina.com
BYD’s Fangchengbao brand has launched a long-range edition of its Bao 5 SUV, introducing four models with an electric range of 210 kilometers and prices between RMB 269,800–329,800. The new lineup features the DMO+ platform, Huawei's Qiankun ADS 4 driver assistance system, and BYD’s DiSus-P suspension for enhanced comfort and control.

China doubles AI adoption in six months

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SCMP
China’s generative AI user base more than doubled to 515 million in H1 2025, reaching an adoption rate of 36.5%, according to a report by the China Internet Network Information Center (CNNIC). More than 90% of respondents said they favored models developed by domestic firms including DeepSeek, Alibaba, and ByteDance.

Nexperia disputes claims of China split

just now
Bloomberg
Nexperia has alleged that ousted CEO Zhang Xuezheng spread “falsehoods” claiming its China unit now operates independently, after a Dutch court suspended him and the Dutch government seized control of the company. The firm called the claims “factually incorrect,” further straining relations between China and the Netherlands over chip industry control.

Alibaba cuts GPU use with Aegaeon system

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SCMP
Alibaba said its new computing pooling system, Aegaeon, reduced the number of Nvidia H20 GPUs needed to serve AI models by 82%, from 1,192 to 213, during tests on its Model Studio platform. The system reportedly enables a single GPU to support up to seven models and lowers latency by 97%.

Yunji lists in Hong Kong with strong debut

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Yunji Technology
Beijing-based Yunji Technology listed on October 18 on the Hong Kong Stock Exchange at an offer price of HKD 95.6. The stock surged on debut and extended its rally, closing at HKD 127.2 as of October 21. The robotics firm plans to expand globally and strengthen its supply chain through a partnership with Luxshare Precision.

KKR, Quadrantis invest in Peak Reinsurance

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KKR
Funds managed by KKR and Quadrantis Capital will acquire minority stakes of about 11.27% and 1.80% in Peak Reinsurance, while Fosun International will retain its 86.71% holding. Prudential Financial has exited its 13.07% stake. The transaction, pending regulatory approval, is expected to close in Q4 2025.

Cambricon swings to profit on AI demand

just now
Bloomberg
Cambricon Technologies reported a 14-fold revenue surge to RMB 1.73 billion in the September quarter, swinging to a net profit of RMB 567 million from a loss a year earlier. The turnaround highlights how Chinese chipmakers are gaining from Beijing’s push to replace restricted Nvidia processors amid an expansion in domestic AI development.

Doubao usage surges past 30 trillion tokens

just now
SCMP
ByteDance’s Doubao large language models processed more than 30 trillion tokens daily in September, more than double the 12.7 trillion recorded in March, Volcano Engine president Tan Dai said. Research firm IDC reported that Volcano Engine led China’s cloud market for token processing in H1 2025 with a 49.2% share, ahead of Alibaba Cloud and Baidu Cloud.
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