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

Features

Entrepreneurship is like “playing a game,” says Spirit AI co-founder Gao Yang

10 mins read

Pulses

Perplexity bids for Google Chrome

just now
WSJ
Perplexity has offered USD 34.5 billion to acquire Google’s Chrome browser in a move aimed at supporting antitrust remedies under review by a US judge. The AI startup pledged to maintain Chromium and retain Google as Chrome’s default search engine. Google has not commented on the proposal.

OpenAI, Altman back Merge Labs

just now
Financial Times
OpenAI CEO Sam Altman is co-founding Merge Labs, a brain-computer interface startup positioned to rival Elon Musk’s Neuralink. OpenAI is backing the venture through a USD 250 million fundraise at an USD 850 million valuation. The company aims to build high-bandwidth brain interfaces. Altman will not hold an operational role.

HK bourse to delist Evergrande shares

just now
AP News
China Evergrande will be delisted from the Hong Kong Stock Exchange on August 25 after 18 months of suspended trading. The liquidation-bound developer faces USD 45 billion in debt claims, while liquidators have recovered just USD 255 million in assets. The company is not appealing the decision.

China chip investment dips 9.8%

just now
SCMP
China’s semiconductor investment reached RMB 455 billion in H1 2025, down 9.8% YoY, with wafer production accounting for 51% of total spending. While chip design and testing declined sharply, equipment investment rose 53%. The period also saw growing interest in high-performance alternatives to traditional silicon-based materials.

TSMC to phase out six-inch wafers

just now
IT Zhijia
TSMC said it will phase out six-inch wafer production over the next two years and consolidate eight-inch capacity to improve operational efficiency. The move, approved by its board as part of a long-term strategy, will not affect previously disclosed financial targets. TSMC said it will ensure a smooth transition for customers.

Romoss resumes hiring despite shutdown

just now
Jiemian News
Romoss has resumed hiring despite a six-month production halt announced in July following a mass recall of nearly 500,000 power banks over fire risks. New job postings appeared days after its equity stake in a materials subsidiary was frozen. Regulatory probes, store closures, and leadership reshuffles continue.

Tencent Music lifts earnings in Q2

just now
Tencent Music
Tencent Music reported Q2 2025 revenue of RMB 8.44 billion, up 17.9% YoY, with net profit rising 43.2% to RMB 2.41 billion. Music subscription revenue grew 17.1%, while ARPPU rose to RMB 11.7. Paid memberships surpassed 15 million, driven by exclusive albums, early ticket access, and enhanced perks. The company also expanded concerts and artist collaborations.

Pony.ai scales up robotaxi rollouts

just now
Pony.ai
Pony.ai has produced over 200 Gen-7 robotaxis since June, expanding across China’s upper-tier cities with round-the-clock service in select areas. It began fully driverless rides in Shanghai and advanced operations in Dubai, South Korea, and Luxembourg, staying on track to meet its 1,000-vehicle target by year's end.

Pony.ai loss widens on R&D costs

just now
Pony.ai
Pony.ai posted Q2 2025 revenue of USD 21.5 million, up 76% YoY, as robotaxi fare revenue tripled and licensing income surged. Gross margin rose to 16.1%, but net loss widened to USD 53.3 million due to higher R&D and post-IPO compensation expenses linked to commercialization efforts.

Leapmotor tops China EV export ranks

just now
PingWest
Leapmotor led Chinese EV startups in export volume from January to July 2025 with 24,980 units and topped domestic deliveries for five straight months, reaching 50,129 in July. A ship carrying over 2,500 vehicles has departed Shanghai for Europe as Leapmotor expands into over 30 markets ahead of its B10 model launch in September.

App update sends Kuaishou shares down

just now
Bloomberg
Kuaishou shares saw their steepest drop since April after the company added a food ordering feature that links users to Meituan’s delivery services. The move raised investor concerns over escalating competition in China’s food delivery market, though some analysts said the reaction overstates the feature’s significance.

Huawei unveils UCM for AI inference

just now
IT Zhijia
Huawei has unveiled UCM, a toolkit that uses key-value caching to speed up inference, expand context windows, and reduce token processing costs. Already in trial at UnionPay for customer service and marketing, UCM is set to be open-sourced in September.

Taobao Shangou tops Meituan briefly

just now
LatePost
Taobao Shangou reportedly exceeded 100 million daily orders from August 7–9, briefly surpassing Meituan amid tea-themed campaigns and heavy subsidies. Meituan still led in fulfilled orders and shifted focus to high-value users as rivals pushed aggressive discounts. JD.com sidestepped with a fried chicken promotion.

Store growth, autumn drinks lift China cafes

just now
Yilan Shangye
China’s coffee and tea chains saw sales gains last week from store expansion and autumn drink launches. Chagee’s seasonal sales jumped 200%, CoCo sold 4.1 million cups in a day, and Naixue’s delivery orders surged 500%, as brands rolled out osmanthus-, peach-, and guava-themed menus nationwide.

Xiaomi CEO launches vote to rename YU7

just now
Jiemian News
Xiaomi founder and CEO Lei Jun launched an online poll on whether to rename the standard edition of its YU7 EV, stressing it is not a stripped-down model given its 835-kilometer range, Thor chip, and LiDAR tech. Priced at RMB 253,500, the poll drew more than 14,000 responses, with most voters opting to keep the current name.

Naluri nets Series B funding for expansion

just now
Naluri
Naluri, a Southeast Asian provider of employee health and well-being solutions, has raised USD 5 million in a Series B funding round led by Telus Global Ventures via its Pollinator Fund for Good, with participation from Sumitomo Corporation Equity Asia, M Venture Partners, and other investors. The funds will go toward working capital to reach profitability within a year and expansion into the Philippines and Vietnam.

US-China trade truce extended to November

just now
Nikkei Asia
US President Donald Trump signed an executive order extending the tariff truce with China for another 90 days to November 10. The pause delays 145% US tariffs and 125% Chinese retaliatory duties imposed in April, while leaving other levies in place. China confirmed it will suspend certain non-tariff countermeasures under a May agreement.

Syenta raises AUD 8.8 million for chip tech

just now
Forbes
Syenta, an Australian semiconductor startup, has raised AUD 8.8 million in a pre-Series A funding round led by Investible, with participation from Blackbird Ventures, Jelix Ventures, Brindabella Capital, OIF Ventures, Salus Ventures, Wollemi Capital Group, SGInnovate, and In-Q-Tel. The company is developing a patented process to build high-speed interconnects between chiplets to overcome memory bandwidth bottlenecks and boost performance.

Trump lowers China chip levy after talks

just now
CNBC
US President Donald Trump said Nvidia will pay a 15% cut of its China sales for the H20 chip, down from the 20% he initially sought after talks with CEO Jensen Huang. The deal restores export licenses halted in April. AMD will also pay 15% to sell its China-focused MI308 chip under similar terms, a White House official said.

Huawei to reveal HBM alternative in China

just now
SCMP
Huawei will announce a breakthrough that could reduce China’s dependence on high-bandwidth memory (HBM) chips for AI reasoning. The reveal is set for August 12 at a Shanghai forum with UnionPay, amid US export curbs on HBM and China’s push to build a self-sufficient AI hardware ecosystem.
See All

Icon for Editor’s PicksEditor’s Picks

Insights

From dominance to doubt: How Nvidia fumbled its shot at powering China’s cars

Once the go-to for in-vehicle chips, Nvidia is facing defections from Chinese carmakers amid delays, performance setbacks, and cultural disconnect.

11 mins read
  • Insights

    Meituan scrambles on “Super Saturday” as Taobao Shangou tops 80 million daily orders

    11 mins read

Venture RoundupVenture Roundup

  • News

    Deals in brief: Naluri and Prefer raise funding, Antler invests in seven AI startups, six China deals, and more

    5 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