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For Chinese firms, the UAE’s business-friendly image comes with caveats

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Z.ai, Alibaba Cloud launch new AI agent

just now
SCMP
Z.ai, formerly Zhipu AI, has launched a free AI agent with Alibaba Cloud for Android, iOS, and web platforms. Powered by its proprietary GLM models, the cross-platform service can be utilized to book hotels, order food, install apps, process documents, and generate multimedia content.

Baidu profit rises as AI businesses grow

just now
The Paper
Baidu reported Q2 2025 revenue of RMB 32.7 billion, down 4% YoY, while net profit rose 33% to RMB 7.32 billion. AI businesses supported growth, with cloud revenue up 27% and Apollo Go trips up 148%. CEO Robin Li said a new Ernie model is in development.

TT Robot inks record humanoid robot deal

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TT Robot
Chinese firm TT Robot has signed a record deal to supply 10,000 humanoid robots, the largest single order in the industry to date. The units will be deployed mainly in eldercare and household services.

FAW eyes Leapmotor stake for EV push

just now
SCMP
FAW Group plans to acquire a 10% stake in Stellantis-backed Leapmotor, which would make it the first state-owned Chinese automaker to invest in an EV startup, according to Cailian Press. The deal is expected to support joint EV development, supply chain efficiency, and overseas expansion.

Lenovo, Robot Era launch humanoid robots

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Economic Information Daily
Lenovo’s New Vision unit and Robot Era jointly launched a humanoid service robot solution for exhibition halls, combining Robot Era’s Q5 with Lenovo’s spatiotemporal synchronization engine. The system reportedly supports real-time interactive tours, personalized reception, and customized content delivery.

Dreame confirms move into drone business

just now
Sina
Dreame has confirmed it will enter the drone market, assembling a specialized R&D team to target China’s growing low-altitude economy. The firm plans to adapt mapping, navigation, and motor technologies from its robotic vacuums, backed by its global manufacturing and supply chain.

Xgimi opens Vietnam plant to boost output

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Securities Daily
Xgimi Technology commenced production at its USD 14 million Vietnam plant on August 18, a key link in its global supply chain with annual capacity of one million projectors. The company, which earns nearly a third of its revenue overseas, is also eyeing a Hong Kong listing to support its expansion.

DingTalk sets up industry AI unit

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36Kr
Alibaba’s DingTalk has formed a team to develop industry-specific AI models, a key step in its strategy since founder Wu Zhao returned in April. The unit is working with enterprise clients on tailored models to address needs that general-purpose LLMs cannot meet.

ByteDance says no chip deal with VeriSilicon

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21st Century Business Herald
ByteDance has denied rumors of a chip partnership with VeriSilicon, saying no such cooperation exists. VeriSilicon, a Shanghai-based chip design and semiconductor IP provider, has struggled with losses in recent quarters despite revenue gains.

iQiyi swings to net loss in Q2

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iQiyi
iQiyi reported Q2 2025 revenue of RMB 6.63 billion, down 11% YoY, as membership and ad income declined. The company swung to a net loss of RMB 134 million from a profit a year earlier, while free cash flow fell to negative RMB 34 million. It said it is investing in micro dramas, new experiences, and overseas expansion to drive long-term growth.

Futu Q2 net income surges 112.7%

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Futu
Futu’s Q2 2025 net income rose 112.7% YoY to HKD 2.57 billion on revenue of HKD 5.31 billion. Trading volume reached HKD 3.59 trillion, led by US equities. The firm added 204,000 funded accounts, more than half outside Hong Kong, bringing the total to 2.88 million as client assets climbed to HKD 973.9 billion.

Manus maker reports USD 90 million run rate

just now
Bloomberg
Butterfly Effect, the company behind agentic platform Manus, said it has reached an annual revenue run rate of USD 90 million, its first disclosure of business scale. Most of the revenue comes from Manus subscriptions, following a USD 75 million funding round earlier this year.

China’s Yimutian lists on Nasdaq

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36Kr
Yimutian, China’s largest agricultural B2B platform by revenue and active merchants, listed on Nasdaq on August 19 under the ticker YMT. The IPO raised about USD 22 million, which will fund expansion of its Wolaicai brokerage service and support global growth.

Meituan’s Keeta launches in Qatar

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Sina
Meituan’s food delivery brand Keeta has launched in Doha, Qatar, its second Middle East market after Saudi Arabia. Meituan said Keeta will support local restaurants, couriers, and digital growth as it expands across the GCC region, with a Brazil launch planned in the coming months.

Tencent studio hits 100 million overseas users

just now
SCMP
Tencent’s TiMi Studio Group has reached 100 million monthly active users overseas, its first disclosure of international player numbers. The developer plans to launch Honor of Kings: World on multiple platforms, targeting Europe, North America, Japan, and South Korea, as Tencent expands abroad amid slowing growth in China.

ByteDance rejects Doubao phone rumor

just now
Jiemian News
ByteDance denied reports that it is developing a Doubao-branded smartphone with ZTE, stating it has no plans to launch its own device. The company said Doubao will focus on integrating AI into partner hardware rather than building in-house phones.

Smart glasses sales soar in China

just now
Securities Daily
China’s smart glasses market grew 148% YoY in H1 2025 to 468,000 units, according to Runto Technology. Driven by rising consumer demand and new product rollouts, brands like Xiaomi and Rokid are expanding rapidly. Suppliers including Biwin and Lens Technology reported strong orders. Annual sales may reach 1.4 million units.

Ping An profit surges in H1

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Ping An
Ping An Good Doctor posted H1 2025 revenue of RMB 2.5 billion, up 19.5% YoY, with net profit rising 136.8% to RMB 134 million. Paying users grew 35.1% as the company expanded corporate health services and launched new AI-powered medical tools. Family doctor membership exceeded 35 million users.

Nvidia plans new China-focused AI chip

just now
CNBC
Nvidia is reportedly developing a China-focused AI chip, the B30A, based on its Blackwell architecture and more powerful than the H20. Samples could ship as early as September. The company said it evaluates products in line with government rules. The move follows Trump’s remark that he would consider permitting a scaled-down Blackwell variant for the Chinese market.

DeepSeek previews upgraded V3.1 model

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Bloomberg
DeepSeek has released an enhanced V3.1 AI model for testing, featuring a longer context window to support larger inputs and longer conversations. Documentation has not yet been published, and the company’s delayed R2 model remains unreleased.
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