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ByteDance spins out drug discovery unit to test AI4S commercialization

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Anker plans Hong Kong IPO

just now
36Kr
Anker Innovations has begun gauging investor interest for a Hong Kong IPO. The consumer electronics manufacturer plans to raise up to USD 700 million in the coming weeks, with CICC, Goldman Sachs, and JPMorgan serving as joint sponsors.

Ant Group tests agentic AI for Alipay

just now
Bloomberg
Ant Group is reportedly testing an AI agent interface for Alipay. The update would let users complete tasks such as booking rides, ordering coffee, arranging takeout, and managing investments by typing or speaking requests, intensifying Alipay’s competition with WeChat.

DJI, Insta360 overtake GoPro

just now
TMTPost
DJI and Insta360 have overtaken GoPro in the global action camera market, with DJI capturing a 66% share as of Q3 2025. GoPro, which held 84% of the market in 2022, reported a USD 80.82 million net loss in Q1 2026 and warned of substantial doubt about its ability to continue as a going concern.

Moonshot AI launches agent platform

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TMTPost
Moonshot AI has launched a desktop application that can coordinate up to 300 AI agents for complex workflows. The company also released the open-source Kimi-K2.7-Code model, which reduces reasoning token consumption by 30%.

WeRide plans robotaxi pilot in Spain

just now
Uber
WeRide, Uber, and Avomo plan to launch Spain’s first commercial robotaxi pilot in Madrid later this year. WeRide has also outlined plans to deploy its Level 4 autonomous vehicle portfolio in Slovakia, with selected models expected to enter commercial operations in 2026.

Huawei weighs Ascend chip deployment

just now
SCMP
Huawei is evaluating whether to deploy its Ascend chips in cloud and AI services in Latin America. Mark Chen, LATAM president of Huawei Cloud, confirmed the study, which would expand the reach of Chinese-designed hardware in a market dominated by US suppliers.

Kweichow Moutai to limit collaborations

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TMTPost
Kweichow Moutai will scale back cross-industry retail collaborations to focus on its core liquor business, chairman Chen Hua said at the company’s annual shareholder meeting. The company plans to prioritize base liquor production and maintain a supply-demand-based pricing strategy. Moutai also said it has no current plans for a stock split.

Alibaba bids USD 1.5 billion for Pupu

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36Kr
Alibaba is said to be bidding USD 1.5 billion to acquire Chinese fresh food delivery platform Pupu. The offer is reportedly more than double a previous valuation proposed by Sun Art Retail.

Xpeng plans Mona wagon

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IT Zhijia
Xpeng is developing a wagon model under its Mona series, according to leaked photos. The project has been confirmed internally, though the vehicle is not expected to launch this year.

Woodside buys PetroChina Browse stake

just now
CNA
Woodside Energy exercised its preemptive right to acquire PetroChina’s 10.67% stake in the Browse gas fields for USD 225 million, blocking a planned sale to Japan’s Inpex. The deal includes a USD 175 million contingent payment tied to a final investment decision by June 30, 2032. The acquisition would raise Woodside’s interest in the project to 41.27%.

CCCC wins USD 2.9 billion Kenya deal

just now
Business Insider
Kenya has selected China Communications Construction Company (CCCC) to lead a USD 2.9 billion upgrade of Nairobi’s Jomo Kenyatta International Airport. Construction is expected to begin this month, with funding from privatization proceeds and commercial loans. The project follows the cancellation of a previous proposal from Indian billionaire Gautam Adani’s company.

Nio launches refreshed Onvo L60

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Nio
Nio has launched a refreshed version of the Onvo L60 midsize electric SUV, with prices starting at RMB 192,800. The new model is priced below its predecessor and adds hardware and software upgrades, including new smart driving features. Deliveries are set to begin on June 12.

Huawei to launch HiCar 7.0

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IT Zhijia
Huawei will launch its HiCar 7.0 smart vehicle connectivity solution on June 13. The release is scheduled during Huawei's developer conference, which runs June 12–14.

Rokid faces privacy backlash before IPO

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TMTPost
Smart glasses maker Rokid is facing scrutiny after users uploaded unauthorized footage of bystanders to its community platform. The controversy adds privacy and regulatory risk to the company’s planned Hong Kong IPO, as investors weigh its camera-integrated display technology against intensifying competition in AI glasses.

Seres-backed Saidou launches Aiva

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DoNews
Seres-affiliated Saidou Technology has launched AIVA, a new AI-focused car brand, as Seres seeks to diversify beyond its Huawei partnership. The company plans to release its first mass produced model, the ME7, later this year. AIVA will work with ByteDance’s Volcano Engine on AI cockpit and large model technology, while ByteDance said it has no plans to manufacture vehicles.

Food delivery platforms share blacklist

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Lianhe Zaobao
Meituan, Taobao, and JD.com signed a self-regulation agreement in Guangdong on June 9 to establish a cross-platform blacklist for food delivery merchants. The initiative aims to impose joint restrictions on severely noncompliant vendors, meaning a serious violation on one platform could trigger restrictions across participating services.

J&T Express faces state investigation

just now
DoNews
China’s State Post Bureau said on June 11 that it has opened an investigation into J&T Express. The company acknowledged the probe, citing gaps in safety management across its franchise network. J&T has set up a task force to address safety risks, strengthen its four-tier responsibility chain, and improve frontline staff training.

Doubao phone lead exits ByteDance

just now
DoNews
Lin Xi, hardware product lead for ByteDance’s Doubao phone project, has reportedly left the company. Lin, a former Huawei executive who joined ByteDance in 2026, is the first hardware-focused leader to exit the project since it began in 2024.

Beijing regulators summon e-commerce platforms

just now
DoNews
Beijing’s market regulator summoned Taobao, JD.com, Pinduoduo, Douyin, and Xiaohongshu on June 11 over deceptive promotional practices. The agency cited issues including misleading subsidy campaigns, opaque rules, and insufficient merchant disclosure, ordering the platforms to rectify violations ahead of the 618 shopping festival.

Turkey suspends BYD perks, warns repayment

just now
Nikkei Asia
Turkey has suspended BYD's import tax exemptions and said incentives must be repaid if a USD 1 billion factory commitment is not fulfilled. The 2024 deal has seen no construction start, while BYD said the Turkey project is on hold while it prioritizes a Hungary plant. Turkish sales fell to 152 units in May from 3,866 in January.
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