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

Insights

Inside Pony.ai’s staying power and the mindset of its CTO, Lou Tiancheng

8 mins read

Pulses

US approves chip exports to Middle East

just now
WSJ
US authorities have cleared sales of up to 70,000 advanced AI chips to the UAE’s G42 and Saudi Arabia’s Humain, reversing earlier security concerns while adding controls to prevent access by China. The decision follows recent talks between US President Donald Trump and Gulf leaders and opens the door for wider exports by Nvidia, AMD, and major US cloud providers.

UBTech to ramp up output

just now
SCMP
UBTech Robotics plans to raise annual humanoid robot output to 5,000 units in 2026 and 10,000 in 2027, saying China’s supply chain is reducing manufacturing costs by up to 30% a year. The firm has delivered about 500 units in 2025 and holds more than RMB 800 million in orders, with deployments across automotive and logistics sites.

Chinese air purifiers catch on in India

just now
Nikkei Asia
Air purifier demand has surged in New Delhi as “severe” pollution pushes households to secure cleaner indoor air, with Chinese brands like Xiaomi gaining ground as entry models sell out online. Retailers note that high-end buyers still favor Western brands, while analysts note that unequal access to clean air highlights broader public health challenges.

Luckin eyes return to US market

just now
Dao Insights
Luckin Coffee is reportedly advancing plans to relist on a US exchange, an effort with no set timeline that is moving forward with local government support. The bid follows about 50% YoY revenue growth in Q3 2025 and ongoing store expansion, but its path is complicated by PCAOB sanctions tied to its 2021 audit and shifting US scrutiny of Chinese firms.

xAI weighs USD 15 billion raise

just now
WSJ
xAI is in talks to raise USD 15 billion at a USD 230 billion valuation, according to people familiar with details shared with investors by Elon Musk’s wealth manager, Jared Birchall. The talks follow earlier funding for its Memphis data center as the company expands infrastructure spending. Musk has publicly disputed prior reports describing the fundraising effort.

Pony.ai launches autonomous truck platform

just now
Pony.ai
Pony.ai has partnered with Sany Heavy Truck and Dongfeng Liuzhou Motor to develop its fourth-generation autonomous truck platform, which features a modular design and full-redundancy safety architecture. Two pure electric models are slated for mass production in 2026, and the system reuses most components from the firm’s next-generation robotaxi kit, reducing bill-of-material costs by up to 70%.

Geely, Renault plan Brazil push

just now
Cailian Press
Geely and Renault will invest BRL 3.8 billion in Brazil to co-develop new models, including two vehicles built on Geely’s zero- and low-emission platform starting in late 2026. Additional funding will refresh Renault’s lineup through 2027. Geely’s deal to buy 26% of Renault’s Brazil unit expands access to its distribution and engineering network.

PDD lifts profit in third quarter

just now
PDD Holdings
PDD Holdings reported Q3 2025 revenues of RMB 108.28 billion, up 9% YoY, driven by growth in online marketing and transaction services. Net income rose 17% YoY to RMB 29.33 billion, and operating profit reached RMB 25.03 billion, with higher fulfilment and technology costs adding to expenses.

Voyah launches new Taishan SUV

just now
Jiemian News
Voyah has unveiled its new Taishan SUV, offering four versions priced between RMB 379,900–509,900. The large six-seat model features Huawei's autonomous driving system, HarmonyOS 5, tri-chamber air suspension, and an 800V hybrid system delivering up to 350 kilometers of EV range and over 1,400 kilometers combined.

Boyu weighs partners for Starbucks deal

just now
Cailian Press
Boyu Capital is reportedly considering whether to involve GIC and Tencent in the transaction for a stake in Starbucks’ China business. The parties have not commented, and no terms, valuation, or timeline have been disclosed.

Manner Coffee weighs Hong Kong IPO

just now
Jiemian News
Manner Coffee is reportedly weighing a Hong Kong listing as early as 2026. The company said it would not comment on the IPO rumor, and no formal timeline or offering details have been disclosed.

Xiaomi EV unit posts first profit

just now
Bloomberg
Xiaomi’s EV unit recorded a RMB 700 million profit in Q3, its first since launching the business and a reversal from the prior quarter’s loss. The company expects to reach its 350,000-unit delivery target ahead of schedule but continues to manage long wait times and rising memory chip costs.

Baidu posts quarterly net loss

just now
Baidu
Baidu reported Q3 2025 revenues of RMB 31.2 billion, down 7% YoY, as online marketing declined. A RMB 16.2 billion impairment of long-lived assets led to a net loss of RMB 11.2 billion. Non-marketing revenue grew 21% YoY, while AI-powered businesses exceeded RMB 10 billion.

iQiyi swings to quarterly loss

just now
iQiyi
iQiyi reported Q3 2025 revenues of RMB 6.68 billion, down 8% YoY, with weaker membership, advertising, and content distribution revenue. The company posted a net loss of RMB 248.9 million and an operating loss of RMB 121.8 million, reversing last year’s profitability despite continued traction in drama viewership and overseas growth.

Luckin reports strong Q3 revenue

just now
Luckin Coffee
Luckin Coffee posted Q3 2025 net revenues of RMB 15.29 billion, up 50.2% YoY, as it added 3,008 stores and reached 112.3 million average monthly transacting customers. Same-store sales for self-operated stores rose 14.4%, while GAAP operating income increased to RMB 1.78 billion amid higher delivery expenses.

Amperesand raises Series A funding

just now
Amperesand
Amperesand, a power infrastructure provider for AI data centers and critical power applications, has raised USD 80 million after completing an oversubscribed Series A round co-led by Walden Catalyst Ventures and Temasek. The round saw participation from new investors Industry Ventures, Acclimate Ventures, and SG Growth Capital, alongside existing backers Xora Innovation, Material Impact, TDK Ventures, and Foothill Ventures.

Lazada sees strong Singles’ Day uplift

just now
Lazada
Lazada said its Singles’ Day campaign delivered sharp gains, with total platform GMV rising a reported 26 times in the first four hours and LazMall posting an 11-fold uplift. Average order value also increased, supported by AI-powered shopping tools and stronger affiliate engagement.

Unitree makes IPO progress

just now
SCMP
Unitree Robotics has completed its pre-IPO tutoring in four months, advancing plans for a STAR Market listing. CITIC Securities oversaw governance, accounting, and fundraising preparations during the accelerated process, which typically takes 6–12 months for Chinese IPO candidates.

Khazanah refines domestic push

just now
Nikkei Asia
Khazanah Nasional is sharpening its domestic strategy around aviation, energy transition, and digital infrastructure as it prepares for a more volatile global economy. The fund is restructuring Malaysia Airports Holdings, building green and data center platforms, and expanding startup investments through Jelawang Capital while retaining a 40% allocation to global assets.

Meland to open park in Bangkok

just now
KrASIA
Chinese family entertainment brand Meland will open its first overseas location in Bangkok’s Siam Paragon by the end of 2025. Developed with Siam Piwat, the 5,000-square-meter indoor park will feature six themed zones, hundreds of play experiences, and collaborations with D’strict, marking Meland’s global debut in family-oriented entertainment.
See All

Icon for Editor’s PicksEditor’s Picks

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.

4 mins read
  • Insights

    Is Yunfeng Financial becoming Jack Ma’s next Ant Group?

    5 mins read

Venture RoundupVenture Roundup

  • News

    Deals in brief: Malaysia’s ArmourZero and FeedMe raise funding, Accelerating Asia backs eight startups in 12th cohort, latest China investments, and more

    6 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