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Xiaomi’s YU7 preorder frenzy signals a new phase in China’s EV race

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DJI launches FlyCart 100 for heavy-duty deliveries

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KrASIA
DJI has launched the FlyCart 100, a new delivery drone with payloads up to 80 kilograms, faster charging, and enhanced safety systems including LiDAR and parachute deployment. The FC100 also features modular winch options, improved terrain sensing, and app-based delivery tools to support advanced low-altitude operations.

Trump hints at TikTok sale, details pending

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Bloomberg
US President Donald Trump said a buyer has been identified for TikTok’s US operations but did not share details, citing a two-week wait and possible need for Chinese approval. The sale, mandated under a US law citing national security concerns, has faced delays amid broader trade tensions. A previous deal involving Oracle and Blackstone reportedly stalled earlier this year.

Nvidia hires top Chinese AI researchers

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SCMP
Nvidia has hired Chinese AI researchers Zhu Banghua and Jiao Jiantao, co-founders of Nexusflow AI, to work on post-training, evaluation, and agentic systems. The move highlights rising demand for Chinese talent in US AI labs, as firms like Google and Meta also step up recruitment of Chinese researchers in advanced AI fields.

Shein seeks HK listing after US, UK setbacks

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Reuters
Shein plans to submit a draft prospectus confidentially for a Hong Kong IPO, according to sources, marking a rare waiver of the city’s disclosure rules. If approved, it would be the fast fashion firm’s third attempt to go public after stalled bids in the US and UK due to regulatory setbacks.

DeepSeek faces EU scrutiny over data flows

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CNBC
Germany’s data protection office has alleged that DeepSeek illegally transfers user data to China and has asked Apple and Google to review the app’s status in their stores. The move could lead to a broader EU ban if other regulators follow suit. DeepSeek, which launched a low-cost AI model earlier this year, is facing growing scrutiny over its data handling in Europe.

Anker partners with ATL after power bank recall

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SCMP
Anker Innovations has signed a deal with ATL to source 45 million lithium-ion batteries after recalling over one million power banks linked to overheating risks. The move marks a supply chain shift aimed at restoring product safety and consumer trust. ATL, a major supplier to Apple and Samsung, replaces a former vendor that Anker has since cut ties with following the recall.

China targets lithography, EDA in new chip fund

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Bloomberg
China’s Big Fund III is shifting its focus to key semiconductor chokepoints, including lithography and chip design software, in response to tightening US export controls. Backed by the Ministry of Finance and state-owned banks, the RMB 344 billion fund will prioritize longer-term investments after earlier rounds delivered limited breakthroughs. Initial deals are expected in the coming months.

China Medical System plans SGX listing

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China Medical System
China Medical System (CMS) has filed for a secondary listing on the SGX via introduction, with no new share issuance planned. Pending exchange approval, the move aims to attract Southeast Asian capital and support the group’s regional expansion. CMS has secured regulatory clearance from the CSRC and runs its Southeast Asia and Middle East operations from Singapore.        

Singapore to deploy AVs in housing estates

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WeRide
Singapore will begin deploying autonomous vehicles in public housing estates by the end of 2025, starting with Punggol and expanding to Tengah. Acting transport minister Jeffrey Siow announced the move during a visit to WeRide’s Guangzhou headquarters, part of a partnership to integrate driverless vehicles into the national transport network and address labor shortages with self-driving solutions.

Indonesia breaks ground on CATL project

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SCMP
Indonesia has broken ground on a USD 5.9 billion EV battery project backed by CATL, Huayou Cobalt, and state-owned Antam. Spanning Halmahera and West Java, the project focuses on nickel processing and battery cell production. NGOs including Greenpeace and CRI have warned of environmental risks near the Weda Bay industrial site.

TikTok Shop launches in Japan

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TikTok
TikTok Shop has launched in Japan, enabling in-app purchases through videos, live streams, and brand profiles. The service supports discovery-driven e-commerce with features like product tags, affiliate programs, and a dedicated shop tab. Early adopters include Kate, Unilever, and Nissin as TikTok expands its local retail presence.

Honor sees sales jump in Philippines launch

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IT Zhijia
Honor’s 400 series smartphones have surpassed one million global activations, marking the brand’s fastest milestone in three years. In the Philippines, launch-day sales rose 1,052% YoY compared to the Honor 200. The new models, released in May, feature Snapdragon chips and 7,200 mAh batteries.

Alibaba unveils upgraded Qwen AI model

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Bloomberg
Alibaba has unveiled Qwen VLo, a new AI model that can generate and modify images from text or visual prompts using a “progressive generation” process. Part of its Qwen series, the multimodal model is designed to rival tools from OpenAI and DeepSeek, reinforcing Alibaba’s goal of achieving artificial general intelligence.

Tesla completes first driverless delivery

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The Verge
Tesla said a Model Y has completed a fully autonomous delivery from its Austin factory to a customer, with no driver or remote operator involved. Elon Musk called it a first, though Waymo has reportedly operated similar highway routes with employees onboard as passengers.

Xiaomi eyes cars for next-gen chip use

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Sina
During a June 26 event, Xiaomi CEO Lei Jun praised the in-house XringO1 chip and its unexpected success, noting that supply fell short due to underplanning. He confirmed the second-generation chip may be used in vehicles and said Xiaomi has fully self-developed a four-in-one domain controller to support future automotive integration.

JD.com expands reach of takeout business

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JD.com
JD.com's takeout unit has reportedly reached over 25 million daily orders, capturing 31% of the national market and operating in 350 cities. Backed by its digital supply chain, it now serves over 15,000 companies with food safety checks, employee meal subsidies, and tools aimed at cutting costs and supporting staff welfare and marketing efforts.

OpenAI flags Zhipu AI’s global outreach

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OpenAI
OpenAI analysts say Zhipu AI is central to China’s global AI push, exporting national LLMs, turnkey infrastructure, and governance know-how to Belt and Road countries. The goal: embed Chinese standards and influence before US or European competitors do.

AI firm Reconova plans Hong Kong listing

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Bloomberg
Reconova Technologies, a Chinese AI firm focused on visual perception, plans to raise around USD 100 million via a Hong Kong listing as early as this year, according to sources. Backed by Intel Capital, the company builds facial recognition tools for sectors such as transport and retail, joining a wave of Chinese AI firms pursuing overseas capital.

Temu, AliExpress told to halt sales in Seoul

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AFP
Seoul has asked Temu and AliExpress to suspend sales of 11 children’s products that breached safety limits, including umbrellas and rain gear with toxic chemical levels hundreds of times above legal thresholds. Though non-binding, the request follows growing scrutiny of product safety on global e-commerce platforms.

China’s industrial profits drop 9.1%

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CNBC
China’s industrial profits fell 9.1% YoY in May, the steepest monthly drop since October 2023, amid weak demand and lower prices. Cumulative profits for major firms declined 1.1% YoY in January-May, with mining down 29%. Analysts expect limited new stimulus, as GDP growth continues to exceed Beijing’s 5% target.
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