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WeChat explores building in-house AI model as Tencent ramps up AI push

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Laopu Gold forecasts profit surge

just now
36Kr
Laopu Gold expects 2025 net profit to rise 226–233% YoY to RMB 4.8–4.9 billion, with revenue projected at RMB 27–28 billion, up 217–229%. Tax-inclusive sales are forecast at RMB 31–32 billion, more than tripling from 2024.

Oracle discloses TikTok stake

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CNBC
Oracle has disclosed a roughly USD 2 billion stake in TikTok's US joint venture, recording USD 2.2 billion in non-marketable investments for the quarter ended February 28. The company owns 15% of the venture, formed after ByteDance divested its US operations under a 2024 national security law.

Flipkart starts IPO bank talks

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Bloomberg
Flipkart is set to begin a formal process in April to appoint banks for a potential Mumbai IPO, according to people familiar with the matter. The Walmart-backed company could list later this year or in early 2027, with proceeds aimed at expansion and a likely secondary share sale by existing investors.

China car sales fall 15% in February

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Nikkei Asia
China’s wholesale car sales fell 15% in February, as domestic sales plunged 34% to 950,000 vehicles, according to the China Association of Automobile Manufacturers. Exports rose 58% to about 590,000 units. The decline reflected fewer business days due to the Lunar New Year, the end of an EV tax break, and lower trade-in subsidies.

Li Auto CEO mulls share buyback

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21st Century Business Herald
Li Auto CEO Li Xiang is considering a potential buyback of the company’s Hong Kong-listed shares, with details still under discussion. The deliberations come after a slump in its stock price and a 19% YoY decline in 2025 deliveries, missing internal targets.

KE denies Beihaojia layoff report

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Jiemian News
KE Holdings’ property development arm Beihaojia has denied reports of a 35% staff reduction and a senior executive’s departure, calling the claims false. The clarification follows scrutiny of its expansion into development, including sales at two self-operated projects. Beihaojia said it is focusing on a light-asset, data-driven C2M model, with 16 cooperative projects underway.

Wallace operator delists from NEEQ

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21st Century Business Herald
Huashi Food has delisted from China’s National Equities Exchange and Quotations, with trading ending February 12. The Wallace operator said the move will improve decision-making efficiency and reduce compliance costs. The company raised RMB 10 million during its listing, as revenue growth slowed in recent years.

China issues OpenClaw warning

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SCMP
China's National Vulnerability Database has issued security guidelines for agentic AI tool OpenClaw, warning against outdated versions, internet exposure, and excessive permissions. The advisory outlines six recommended practices and flags risks including prompt injection and unauthorized file access, marking its second alert on the software since February.

Banks drop Semi-Tech IPO roles

just now
Bloomberg
CITIC Securities and China Securities International have withdrawn as overall coordinators of Semi-Tech Group's Hong Kong IPO due to staffing constraints, according to people familiar with the matter. The move underscores pressure on banks as listings rebound, with over 400 companies in the pipeline. Semi-Tech aims to raise up to USD 200 million.

Singtel to lease Agibot robots

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Agibot
Singtel and Agibot have entered a partnership to deploy embodied AI robots over Singtel's advanced network infrastructure. The deal marks Agibot’s first telecom operator tie-up outside China and will allow customers in Singapore to lease its robots via Singtel, targeting retail and other commercial use cases.

India eases FDI curbs

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Nikkei Asia
India has eased investment restrictions on countries sharing a land border, including China, allowing up to 10% beneficial ownership under the automatic route and setting a 60-day approval timeline for sectors such as electronics and polysilicon. The rules replace tighter 2020 curbs introduced after border tensions.

Everwin Precision plans H-share IPO

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36Kr
Everwin Precision said it is planning an H-share issuance and main board listing in Hong Kong to support its international expansion and capital operations. Specific terms have not been finalized. The proposal will not change the company’s controlling shareholder and remains subject to board, shareholder, and regulatory approvals.

Chinese truck makers target Europe

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Reuters
More than half a dozen Chinese electric truck makers, including BYD, Geely’s Farizon Auto, and Sany, reportedly plan to launch European sales in 2026. They aim to price vehicles up to 30% below the EUR 320,000 regional average, challenging established manufacturers as electric trucks made up 4.2% of EU sales in 2025.

Kose rolls out Sekkisei oil line

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36Kr
Kose has launched the Sekkisei Blue series in China, introducing six plant-based skincare products, including three facial oils priced between RMB 400–470. The debut marks an expansion beyond the Sekkisei brand’s traditional whitening range toward botanical, oil-focused formulations.

Tencent begins QClaw beta test

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IT Zhijia
Tencent said QClaw, an AI assistant built on the open-source OpenClaw framework, has entered beta testing. The Windows and Mac tool supports more than 5,000 skills and enables users to remotely operate their computers via WeChat commands, executing tasks and returning results automatically.

Tencent considers Warner deal stake

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Bloomberg
Tencent is considering investing as a passive backer in Paramount Skydance’s USD 110 billion acquisition of Warner Bros Discovery, according to people familiar with the matter. The company previously withdrew a USD 1 billion equity commitment amid US regulatory concerns and could still decide not to proceed.

Canada lets TikTok remain, with conditions

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Reuters
Canada will allow TikTok to continue operating and proceed with its investment after a national security review, industry minister Melanie Joly said. The approval replaces a November 2024 dissolution order and requires binding commitments on data protection, minors’ safeguards, and ongoing audits by an independent third-party monitor.

Apollo Go resumes UAE robotaxi ops

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Yicai
Baidu’s Apollo Go has resumed fully driverless testing and services in Dubai and Abu Dhabi. The restart follows its January approval for fully driverless testing in Dubai and the launch of public driverless services in Abu Dhabi.

Geely sets overseas sales record

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36Kr
Geely said its overseas sales topped 60,000 units for two consecutive months, climbing 134.7% YoY to a record high. The group now operates in nearly 100 countries and regions, with Latin America, Asia Pacific, and Central Asia leading growth as it advances its global expansion strategy.

Dingdong Maicai names new CEO

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Sina
Dingdong Maicai said founder Liang Changlin has stepped down as CEO, with former CFO Wang Song assuming the role while giving up his finance duties. Liang remains chairman, and CTO Jiang Xu will leave at the end of March. The leadership overhaul comes one month after Meituan completed its USD 717 million acquisition of the company’s China business.
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