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Meituan shutters Youxuan in several regions, shifts focus to offline retail

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Pulses

Tencent app approved for MCI care

just now
Xinhua
Tencent received approval from Guangdong regulators on June 23 to put its digital therapy app into clinical use for treating mild cognitive impairment. The gamified software targets six cognitive domains and will be prescribed by doctors as a non-drug intervention focused on memory, attention, and executive function.

Meituan expands Xiaoxiang Supermarket

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Sina
Meituan is expanding Xiaoxiang Supermarket to all major Chinese cities, enhancing its supply chains by sourcing fresh goods from around 200 domestic production zones. The move coincides with Meituan’s overseas push, as Keemart begins pilot operations in Riyadh, Saudi Arabia.

Neolix to pilot driverless vans in South Korea

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Neolix
China-based Neolix will pilot unmanned delivery vehicles in Incheon under a new agreement signed June 19, marking its entry into South Korea. The project, touted as the country’s first, is part of the firm’s broader expansion across 15 global markets targeting smarter logistics.

Alibaba consolidates Ele.me and Fliggy

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The Paper
Alibaba folded food delivery platform Ele.me and travel site Fliggy into its e-commerce division on June 23, with both CEOs now reporting to Jiang Fan. The move reflects a broader push to unify consumer services and bolster Alibaba’s quick commerce strategy through deeper integration between Taobao Shangou and Ele.me.

GAC kicks off EV production in Jakarta

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GAC
GAC Group has opened a smart factory in Jakarta, marking a key step in its “One GAC 2.0” globalization strategy. The site reportedly features AI-powered manufacturing and supports the company’s effort to localize EV production in Southeast Asia. The plant anchors GAC’s Indonesia initiative and long-term plan to develop a local supply and service ecosystem.

Cainiao launches new GCC delivery network

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Securities Times
Cainiao has launched a new logistics network connecting the six GCC countries, enabling parcel deliveries within the region in as little as three days. The service supports both cross-border and local e-commerce fulfillment, marking a key step in Cainiao’s logistics expansion strategy.

Meituan scales back Youxuan operations

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KrASIA
Meituan is winding down Youxuan in multiple regions while retaining operations in areas like Guangdong and Hangzhou. Staff are shifting to a new offline retail project under Xiaoxiang Supermarket after internal reforms failed to curb losses or sustain GMV. The move marks Meituan’s latest pivot to reshape its retail strategy.

Quick commerce now core to Alibaba strategy

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KrASIA
Alibaba’s Taobao Shangou and Ele.me logged over 40 million daily orders as of May 26, following a combined total of 60 million during the 618 shopping festival. Alibaba is now prioritizing quick commerce, aiming to reshape user behavior through subsidies, traffic allocation, and deeper platform integration.

Tesla begins robotaxi service in Austin

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Wired
Tesla has launched an invite-only robotaxi service in Austin, offering rides in self-driving Model Ys between 6 a.m. and noon (local time) for a flat fee of USD 4.2. The pilot is limited to a fixed area and includes a front-seat safety monitor but no active driver. It marks Tesla’s first rollout of a driverless ride service after years of delays and scrutiny.

Nvidia, Foxconn eyes humanoid robot deployment

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Cailian Press
Nvidia and Foxconn are in talks to deploy humanoid robots at a new plant in Houston, Texas, where Foxconn will produce Nvidia’s GB300 AI servers, sources said. If finalized, the site would mark the first use of humanoid robots on the production line for either company.

Meta held takeover talks with Perplexity AI

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Bloomberg
Meta held talks to acquire Perplexity AI before moving ahead with a USD 14.3 billion investment in Scale AI, sources said. The deal fell through, and Meta has since ramped up recruitment for its “superintelligence” team, including efforts to hire Perplexity CEO Aravind Srinivas and talent from DeepMind, OpenAI, and Safe Superintelligence.

Tesla to build China’s largest grid battery plant

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CNBC
Tesla has signed a RMB 4 billion deal with the Shanghai government and China Kangfu International Leasing to build what it says will be China’s largest grid-side battery storage plant. The project will use Megapacks from Tesla’s Shanghai factory and marks the company’s first utility-scale deployment in the country.

“Grateful” TikTok still in talks for US deal

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SCMP
TikTok said it was “grateful” for the US extending its divest-or-ban deadline to September 17, allowing continued access to American users. It added that it is still working with US vice president JD Vance’s office on a deal, though analysts warn the process remains fraught with Chinese export rules and regulatory hurdles, potentially resulting in a split platform.

Anker recalls power banks over battery issue

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36Kr
Anker Innovations issued a voluntary recall on June 20 for select batches of seven power bank models due to material defects in battery cells. The company has pulled affected products and cut ties with the supplier, while urging users to stop using impacted units. It plans to establish a long-term safety mechanism.

Dubai’s Damac to build data center in Jakarta

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Semafor
Edgnex, a unit of Dubai’s Damac Group, will invest USD 2.3 billion in a 144 MW data center in Jakarta, Indonesia, with operations expected to begin later this year. The project is part of Edgnex’s USD 20 billion global AI infrastructure push, including more than USD 3 billion committed to Southeast Asia.

Pop Mart registers “Crybaby” trademarks

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36Kr
Pop Mart is expanding its IP tied to "Crybaby," a character by Thai artist Molly Yllom, with new trademark filings across education, beverages, and machinery, with some approvals already granted, according to Aiqicha. The company also registered the script copyright for the first season of a Labubu animated series.

Unitree hits unicorn status with new funding

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SCMP
Unitree Robotics, a Chinese maker of quadruped and humanoid robots, has raised new funding from top tech investors including Alibaba (and its affiliate Ant Group), Tencent, China Mobile, Geely, and ByteDance-linked Jinqiu Capital, pushing its valuation past RMB 10 billion. The company is expanding globally and considering a Hong Kong listing.

Sanhua opens lower on Hong Kong debut

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Bloomberg
Sanhua Intelligent Controls, a major Chinese supplier of refrigeration and air conditioning components, dropped 7% in its Hong Kong trading debut on June 23, despite backing from Jane Street Group, GIC, and Schroders. The company raised HKD 9.3 billion in a top-of-range offering and plans to invest in robotics R&D, including bionic actuators, as revenue growth slows.

Pop Mart stock wobbles as Labubu resale dips

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Dao Insights
A Pop Mart restock of its popular Labubu collectibles drove down resale prices, fueling speculation about softening demand. The company’s shares fell around 6% on June 17 and dipped again on June 20, though the declines may partly reflect broader market volatility.

Store streams fuel Douyin’s 618 sales surge

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NetEase Tech
From May 13 to June 18, over 60,000 brands on Douyin E-commerce saw YoY sales double during the 618 festival, with more than 2,000 products exceeding RMB 10 million in GMV. Live streams drove around half of total sales. Among merchants with live stream GMV above RMB 10 million, nearly 70% used store-operated streams.
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