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Touch-enabled robots inch closer to reality as Lumos Robotics secures new funding

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Pulses

BYD expands megawatt charging network

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Shanghai Securities News
BYD will partner with Xiaoju Charging and Xindiantu to co-build 15,000 megawatt-level fast chargers across China, expanding its existing network of over 500 stations and accelerating the nationwide rollout of high-speed EV charging.

iQiyi slashes virtual studio rental rates

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Sina
iQiyi slashed the daily rental price of its XR virtual production system to as low as RMB 35,000 from RMB 160,000, effective June 1. The move aims to lower cost barriers for creators as virtual production use across the company's projects rose 50% YoY, supported by major infrastructure upgrades in Hebei and Zhejiang.  

China’s RISC-V chipmaker Eswin targets IPO

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Shanghai Securities News
Eswin Computing, a leading Chinese RISC-V chip provider led by BOE founder Wang Dongsheng, filed for a Hong Kong IPO on May 30. The firm derives most of its revenue from smart terminal solutions and could become China’s first listed RISC-V specialist, underscoring momentum in domestic chip innovation.

Ant’s AI health app clears trust review

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36Kr
Ant Group’s AI health assistant has become the first product to pass China’s trusted model review for medical applications, according to CAICT. Launched in September 2024, the service is said to support over 40 million users with features like report reading and diagnosis support, backed by AI agents representing more than 60 leading physicians.

US investors race to license China biotech

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WSJ
US investors are rushing to license drugs from China as the country’s biotech sector gains global clout. Nearly 30% of recent pharmaceutical licensing deals involved Chinese firms, up sharply from prior years. VCs cite competitive pricing, speed, and innovation, with companies like Pfizer and Verdiva already securing major deals.

Synopsys halts China sales amid US curbs

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Reuters
Synopsys halted sales, services, and support in China from May 29 after receiving new US export restrictions. The freeze affects all users in China, including global clients' local operations. The company also suspended forecasts and is awaiting clarification, as Washington tightens tech curbs on semiconductors.

Samsung may preload Perplexity AI on devices

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Bloomberg
Samsung is reportedly nearing a deal to preload Perplexity AI’s assistant on future devices, including default integration in the Galaxy S26 line, with talks also covering Bixby upgrades. The tie-up may involve an investment in Perplexity’s USD 500 million funding round as Samsung seeks to expand its AI stack and lessen reliance on Google.

RoboSense sees record Q1 on LiDAR demand

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RoboSense
RoboSense posted record Q1 2025 revenue of RMB 581 million, up 36.4% YoY, as LiDAR demand rose with broader smart driving adoption. The firm shipped over 72,000 units and saw gross profit climb 42.6% to about RMB 176 million. Growth came from both passenger and commercial vehicle markets, pushing its gross margin to 30.3%.

BYD hits 2025 sales peak after discounts

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Bloomberg
BYD sold 382,476 vehicles in May 2025, its strongest month this year, after discounts of up to 34% drove a surge in demand. Battery EVs outpaced hybrid models for just the second time in 2025, reaching 204,369 units. The price cuts triggered industry warnings over shrinking margins and price war risks. Analysts estimate BYD's showroom traffic rose as much as 40% following the markdowns.

Nio logs 23,231 deliveries in May

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Nio
Nio delivered 23,231 vehicles in May 2025, up 13.1% YoY. The total includes 13,270 units under the Nio brand, 6,281 from Onvo, and 3,680 from Firefly. Year-to-date deliveries by the Chinese EV maker rose 34.7% to 89,225, bringing its cumulative volume to 760,789.

Apple’s iPhone faces decline in China

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SCMP
Apple’s iPhone shipments in China are expected to fall 1.9% in 2025, IDC said, as the company faces mounting pressure from Huawei, AI rollout delays, and exclusion from a key subsidy program. While China’s overall smartphone market is projected to grow 3%, Apple’s position continues to erode despite 618 discounts and the anticipated iPhone 17 launch.

Avatr hits 12,767 units in May sales

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Avatr
Chinese EV maker Avatr delivered 12,767 vehicles in May, up 179% YoY. The brand also launched an updated Avatr 12 sedan, introduced a wireless charging upgrade, and expanded its global footprint with new initiatives in Hong Kong and the Middle East.

Leapmotor’s May deliveries top 45,000

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Leapmotor
Leapmotor delivered 45,067 vehicles in May 2025, up 148% YoY. It also launched the 2026 C10 EV model, priced from RMB 122,800, and passed national testing for its proprietary cell-to-chassis (CTC) battery integration system.

Xpeng extends delivery streak into May

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Xpeng
Xpeng Motors delivered 33,525 vehicles in May 2025, up 230% YoY and marking its seventh straight month topping 30,000 units. Year-to-date deliveries reached 162,578, a 293% increase. The company also launched the Mona M03 Max, an EV priced around RMB 150,000 aimed at bringing premium AI driving features to the mass market.

Li Auto’s deliveries climb 16.7% in May

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Li Auto
Li Auto delivered 40,856 vehicles in May 2025, up 16.7% YoY, bringing total deliveries to over 1.3 million. Growth was driven by demand for its new Li Mega minivan variant and upgrades to its L series lineup. The company plans to launch its first battery electric SUV, the Li i8, in July.

Grab plots entry into car insurance in Singapore

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The Straits Times
Grab’s insurance arm is preparing to enter Singapore’s motor insurance market after joining the General Insurance Association and securing a license in late 2024. Hiring and system development are reportedly underway, with analysts expecting Grab to challenge incumbents through data-driven pricing, app-based distribution, and its large private-hire fleet.

Zeekr posts 15.2% rise in May deliveries

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Zeekr
Chinese EV maker Zeekr delivered 46,538 vehicles in May 2025, marking a 15.2% YoY increase and 12.6% growth from April. The total includes 18,908 units under the Zeekr brand and 27,630 from Lynk & Co, as the company approaches 1.95 million cumulative users.

China hits record in clean energy buildout

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CGTN
China accounted for more than 60% of global renewable energy additions in 2024, driven by advances in offshore wind, solar cell technology, and energy storage, according to CREEI. The sector is now shifting from rapid expansion to high-quality development, with grid integration and coordinated planning emerging as key priorities.

Unitree restructures ahead of possible IPO

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SCMP
Unitree Robotics has restructured as a joint stock limited company, fueling speculation of a Hong Kong IPO. The Hangzhou-based firm, backed by Meituan and HongShan, cited “development needs” for the change. Known for its humanoid and quadruped robots, Unitree became profitable in 2020 and has seen rising investor interest following high-profile appearances.

Chagee boosts Q1 sales, but margins narrow

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Chagee
Chagee’s Q1 2025 revenue rose 35.4% YoY to RMB 3.39 billion, driven by a 63.6% jump in store count to 6,681. Net income grew 13.8% to RMB 677.3 million, though net margin narrowed to 20% as same-store GMV fell 18.9% YoY. Operating margin declined to 24.2% amid rising marketing and administrative expenses.
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