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With AI’s help, China’s Jixun pushes to make electric tricycles a global export

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Pulses

China banks back Aramco gas project

just now
Reuters
China’s top banks are financing over a third of Aramco’s USD 11 billion Jafurah gas project, with Bank of China, ICBC, China Construction Bank, and Agricultural Bank of China lending more than USD 3.7 billion combined. Chinese funds, however, avoided equity participation, reflecting how US-China tensions are reshaping Gulf investments.

Xiaomi unveils bespoke EV program

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Xiaomi
Xiaomi has launched a customization service for its YU7 Max and SU7 Ultra EV models, offering 26 handcrafted options including premium paint finishes, curated interiors, and materials such as ash wood veneer and ceramic emblems. Production will be limited to 40 vehicles per month during the program’s first year.

Foxconn revenue rises on strong AI server demand

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Bloomberg
Hon Hai Precision Industry, or Foxconn, reported an 11% rise in quarterly revenue to TWD 2.06 trillion, driven by strong demand for Nvidia-powered AI servers. The company said server sales more than doubled and expects further growth this quarter, even as trade tensions and evolving US tariff policies add uncertainty.

Plaud launches in mainland China

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KrASIA
Plaud announced its China launch on September 22, unveiling new products including the Plaud Note, Note Pro, and NotePin S wearable recorder. The Shenzhen-based company is making its domestic debut after shipping more than one million units across 170 countries. It expects USD 250 million in 2025 revenue and plans to maintain global pricing as it expands at home.

Huawei’s AI chips found using foreign parts

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Bloomberg
Huawei’s Ascend 910C processor uses components from TSMC, Samsung, and SK Hynix, according to media reports. The company is said to have built the chip with stockpiled dies and HBMs obtained before US export bans, as it seeks to compete with Nvidia.

Energy storage output tightens in China

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Jiemian News
Chinese energy storage battery makers operated at nearly 90% capacity in September, with Eve, Cornex, and Ganfeng Lithium among those fully booked through year's end. Strong demand from overseas and domestic projects has created a short-term supply squeeze, driving cell prices higher by RMB 0.01–0.03 per watt-hour.

TikTok faces license suspension in Indonesia

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Bloomberg
Indonesia’s communications ministry has suspended TikTok’s local operating license after the platform declined to fully share live streaming data from August protests. The suspension, which does not affect service access, follows tightening oversight of digital platforms. TikTok said it is cooperating with authorities to resolve the issue while safeguarding user privacy.

Haier and Hisense boost Thai factory network

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Nikkei Asia
Chinese appliance makers Haier and Hisense are expanding in Thailand to offset US-China trade frictions, opening or starting construction of large factories in Chonburi. Haier’s USD 312 million plant will produce up to six million air conditioners annually, while Hisense’s USD 147 million facility will make 2.6 million appliances per year.

Swedish court rules against Shein in photo case

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Reuters
A Swedish court found that Shein’s Ireland-based unit, Infinite Styles Ecommerce, copied product photos owned by local rival Nelly and used them online without permission. The court imposed a SEK 500,000 fine and legal costs but dismissed claims against two other Shein entities. Nelly said it may appeal the ruling.

JD enters coffee market with 7Fresh

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Dao Insights
JD.com is entering China’s crowded coffee market with 7Fresh Coffee, an offshoot of its supermarket brand. The company is adopting a low-cost model by leasing small spaces in supermarkets, hotels, and offices, backed by subsidies. Industry groups warn the move could hurt small cafes as regulators tighten scrutiny of aggressive discounting.

Yimutian inks digital asset deal in Hong Kong

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Yimutian
Yimutian, China’s leading agricultural digital platform, has partnered with Hong Kong’s BC Technology to expand into cross-border settlement, agricultural RWA products, and new digital trade models. As part of the deal, Yimutian will buy at least USD 12 million in digital assets, aiming to link agriculture with global capital markets.

Tesla Q3 deliveries rise 7% YoY

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Tesla
Tesla delivered 497,099 vehicles in Q3 2025, up 7% YoY, while production dropped to 447,450. Gains in the US ahead of a federal EV tax credit’s expiration offset a sales slump in Europe. Year-to-date deliveries reached 1.2 million, down 6% from 2024. Tesla also deployed a record 12.5 GWh of energy storage products.

Alibaba’s Amap sets DAU record

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Alibaba
Alibaba’s Amap reached a record 360 million DAUs on October 1, the start of China’s eight-day Golden Week holiday. Its AI assistant Xiaogao processed 2.6 billion requests, while its road safety system sent 290 million alerts. The milestone builds on new lifestyle features including Amap’s “Street Stars” and expanded restaurant rankings.

Faraday Future investigates prototype blaze

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Faraday Future
A September 28 fire at Faraday Future’s Los Angeles headquarters involved an FF 91 beta prototype vehicle, the company said. No injuries occurred and production cars were not affected. Initial checks cleared the battery pack, with investigators focusing on wiring or 12V system faults. The company stressed that its production vehicles meet flammability standards.

Baidu eyes Australia in robotaxi drive

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Bloomberg
Baidu is exploring robotaxi expansion into Australia and Southeast Asia as its Apollo Go unit reaches per-vehicle profitability in several Chinese cities. The fleet has trial licenses to double in Dubai and is preparing a European launch through a Lyft partnership in the UK and Germany, pending approvals.

Xiaomi opens EV R&D hub in Munich

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Xiaomi
Xiaomi has opened its first R&D and design center outside China in Munich, Germany. The hub will focus on EV technology, design innovation, and performance projects, driving forward Xiaomi's entry into the European EV market by 2027 and supporting its ecosystem strategy.

Chinese brands gain ground in EU car market

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Bloomberg
Chinese carmakers captured a record 9.8% of Europe’s hybrid car sales in August, their fourth new peak this year, according to Dataforce. They also held 9.6% of the EV market. BYD, Leapmotor, and MG are shifting strategies under EU tariffs, with hybrids surging and affordable EVs fueling demand across the region.

Chinese AI firms dominate global Q3 gains

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Nikkei Asia
Chinese AI-related firms dominated Q3 markets, taking half of the top 20 global gainers by market cap, Nikkei reported. Foxconn Industrial Internet, Eoptolink, and Zhongji Innolight nearly tripled in value, while chipmaker Cambricon more than doubled to USD 77.8 billion. Investors are betting on China’s AI drive, though some warn of speculative excess.

Shein faces pushback on French store plan

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Bloomberg
Shein’s plan to open shops inside French department stores carrying the Galeries Lafayette name has prompted a clash. Galeries Lafayette said the move breaches obligations and its values, while store operator Societe des Grands Magasins insists the partnership is valid. The first Shein store is set to open in Paris in November.

Huawei tops Apple in smart watch sales

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Nikkei Asia
Huawei overtook Apple in smart watch shipments for April-June, rising 53% YoY to 7.2 million units and capturing a 21% global share, according to Counterpoint Research. Apple’s shipments slipped 3% to 5.8 million, its seventh straight quarterly decline. Huawei’s lower prices and longer battery life are reportedly driving uptake in China, Japan, and other markets.
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