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China’s EVT Aerotechnics challenges global rivals with ET9 eVTOL program

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Pulses

Mihoyo debuts new Honkai title

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36Kr
Mihoyo unveiled its latest game, Honkai: Nexus Anima, on August 29 with a debut trailer and gameplay demo. The title blends pet collection and auto-battling in a casual strategy format. Led by Honkai: Star Rail producer David Jiang, it also features town exploration, mount riding, and avatar customization. Closed beta signups are now open.

GoodMe doubles profit after IPO

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36Kr
GoodMe reported RMB 5.66 billion in revenue and RMB 1.63 billion in net profit for H1 2025, up 41.2% and 119.8% YoY. Adjusted profit rose 42.4% to RMB 1.09 billion. The store count hit 11,179, with over 80% of new outlets in lower-tier cities. Daily GMV per store climbed to RMB 7,600, signaling greater efficiency.

Tea tops water in Nongfu Spring sales

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Nongfu Spring reported RMB 25.6 billion in revenue and RMB 7.6 billion in net profit for H1 2025, up 15.6% and 22% YoY. Tea drinks, led by its flagship "Oriental Leaf Tea" beverage, became the company’s largest revenue source at RMB 10.1 billion, surpassing bottled water for the first time.

ChaPanda boosts margins, adds stores

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ChaPanda posted RMB 2.5 billion in revenue and RMB 333 million in net profit for H1 2025, with profit up 40% YoY and gross margin rising to 32.6%. The brand expanded to eight international markets, with 18 stores in South Korea and first US and France locations pending.

Mini Labubu toys drive resale frenzy

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Jiemian News
Pop Mart’s mini Labubu collectible, priced at RMB 1,106 per set, was reselling for up to RMB 2,500 ahead of its official launch on August 28. Each set includes 14 standard figures and one hidden model. The release is part of "The Monsters" series, which drove a 668% YoY revenue surge in H1 2025.

Nvidia CEO says China chip talks ongoing

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SCMP
Nvidia CEO Jensen Huang said White House talks on allowing sales of a reduced-capability version of its Blackwell GPU to China have begun but will take time. Trump has suggested permitting exports of chips 30–50% weaker than standard models. Huang said Nvidia is open to conditions, citing China’s USD 50 billion AI market potential.

Yadea opens e-scooter plant in Thailand

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Nikkei Asia
Yadea, China’s leading two-wheeler maker, has opened a plant in Samut Prakan, Thailand, with plans to produce 600,000 e-scooters over three years. Its first model, the RS20, will launch at THB 41,900, about 30% below Honda’s mainline scooter. The move underscores intensifying Chinese-Japanese competition in Southeast Asia’s two-wheeler market.

Wahaha equity dispute escalates to top courts

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KrASIA
On August 27, Wahaha chair Zong Fuli petitioned China’s top court and procuratorate to expedite a dispute over the employee shareholding committee’s 24.6% stake. The conflict traces back to contested 2018 buybacks and could decide whether Zong, who inherited 29.4% from her late father, becomes the group’s largest shareholder.

SenseTime narrows losses, boosts AI growth

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SenseTime
SenseTime posted H1 2025 revenue of RMB 2.4 billion, up 36% YoY, driven by 73% growth in generative AI, which now accounts for 77% of its sales. Adjusted net loss narrowed 50%, while trade receivable collections hit a record RMB 3.2 billion, up 96%. Cash reserves rose to RMB 13.2 billion.

Heytea under fire over trans fat claims

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Dao Insights
Chinese tea chain Heytea is under scrutiny after a media test found trans fatty acids in one of its milk tea drinks. The company said the content came from dairy milk, but critics pointed to earlier promises of zero trans fats. While levels meet national standards, the findings pose a challenge to Heytea's health-focused brand image.

Tesla sales fall in Europe as BYD surges

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CNBC
Tesla’s European sales fell 40% YoY in July to 8,837 units, its seventh consecutive monthly decline, according to the European Automobile Manufacturers Association (ACEA). BYD, meanwhile, rose 225% YoY to 13,503 registrations as it expands in Europe. Tesla’s challenges reportedly include an aging car lineup, intensifying competition, and reputational issues linked to Elon Musk.

Hollyland consolidates its brand identity

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36Kr
Hollyland has consolidated with its overseas brand Moma to form the unified global brand Hollyland Moma. Co-founder Vincent Ma announced the move in Shenzhen, saying the realignment is intended to unify user experience and branding across markets for the company’s wireless audiovisual products.

Li Auto to mass produce M100 chip in 2025

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LatePost
Li Auto plans to start mass producing its M100 autonomous driving chip this year while continuing to equip current models with chips from Nvidia and Horizon Robotics. CTO Xie Yan is leading a co-optimization strategy aimed at boosting efficiency and reducing reliance on external suppliers. Executives said in-house chips tailored to Li Auto’s algorithms will improve both performance and cost competitiveness.

Dreame to debut luxury EV in 2027

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IT Zhijia
Dreame has announced it plans to enter the EV market, starting with a luxury car model set to debut in 2027. Positioned against the Bugatti Veyron, the car will feature a proprietary AI-driven companion system that learns driver habits and emotions, and cross-ecosystem connectivity with smart devices. A team of nearly 1,000 is reportedly developing the project.

Nvidia weighs bringing Blackwell chips to China

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CNBC
Nvidia CEO Jensen Huang said there is a “real possibility” of bringing the company’s Blackwell AI processors to China, pending US export approvals. He added that China’s AI market could grow 50% in 2026, calling it a USD 50 billion opportunity.

CATL debuts Tener Stack in South America

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CATL
CATL has debuted the Tener Stack, a massive energy storage system, at this year's Smarter E South America expo. Engineered for Brazil’s grid and the region’s varied climates, the system combines high capacity with transport and safety innovations. CATL is also deepening its presence with regional teams across South America and a new office opening in Chile in September.

Free Fire outpaces rival titles in US spending

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Bloomberg
Free Fire, a title managed by Sea’s Garena arm, surpassed Call of Duty: Mobile in US gamer spending in July, ranking as the top-grossing mobile shooting game. Circana credited tie-ins with Naruto Shippuden and Netflix’s Squid Game for boosting sales.

XtalPi reports record growth, first H1 profit

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XtalPi
XtalPi reported H1 2025 revenue of RMB 517 million, up 404% YoY, and adjusted net profit of RMB 141 million, its first half-year profit. Revenue growth was driven by a 615% surge in drug discovery solutions, milestone collaborations such as a USD 51 million deal with professor Gregory Verdine, and advances in AI- and robotics-enabled R&D platforms.

Musinsa, Anta form joint venture

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Musinsa
Musinsa has partnered with Anta Sports to launch a joint venture to expand the South Korean fashion platform into the Chinese market. Musinsa will hold 60% and Anta 40%, with the venture overseeing both online and offline expansion. The deal is expected to close by September, pending regulatory approval.

Innovent expands portfolio, lifts H1 profit

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Innovent Biologics
Innovent Biologics reported H1 2025 revenue of RMB 5.95 billion, up 50.6% YoY, and net profit of RMB 1.21 billion. The company expanded its portfolio to 16 drugs, including three new oncology launches, advanced global pipeline trials, and reaffirmed its target of RMB 20 billion product revenue by 2027.
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