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After appearing at Macy’s parade, how far can Pop Mart go in the US?

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Musinsa opens first China store in Shanghai

just now
Jiemian News
South Korean fashion retailer Musinsa has opened its first Musinsa Standard store in China on Shanghai’s Huaihai Road, with a Musinsa Store to follow on Anfu Road. Backed by Anta Sports, the company plans to open over 100 stores across China by 2030 to drive expansion ahead of its planned 2026 IPO.

Xpeng to build EVs in Malaysia by 2026

just now
Nikkei Asia
Xpeng will begin local EV production in Malaysia in 2026 through a partnership with EP Manufacturing, marking a shift from exports to localized manufacturing. Vehicles will be semi-assembled at EP’s Malacca plant to tap Malaysia’s EV incentives and support Xpeng’s expansion across right-hand-drive markets in the ASEAN region.

Douyin tightens e-commerce content rules

just now
Shanghai Observer
Douyin E-commerce has tightened its content rules to curb creators who seek to profit from fake reviews, exposes, or counterfeit claims. Under new regulations effective February 1, 2026, accounts that post unverified or misleading content risk losing monetization and promotion privileges. The platform has already penalized several accounts for repeated violations.

RayNeo tops global AR glasses market

just now
Securities Times
RayNeo, a Chinese AR glasses maker, led the global market for the second straight quarter with a 24% share in Q3 2025, according to Counterpoint Research. Despite rising competition from Meta and Alibaba, RayNeo’s overseas sales rose nearly fourfold YoY across channels in more than 25 countries.

Huawei unveils Mate X7 and new devices

just now
Huawei
Huawei has rolled out a lineup of new premium devices, led by the foldable Mate X7, alongside the FreeClip 2 earphones, Watch Ultimate Design, and MatePad 11.5 S tablet. The company said the launch embodies its “Now Is Yours” philosophy, blending design, innovation, and user-centered experiences across devices.

Meituan halts Tuanhaohuo unit

just now
Sina
Meituan has suspended Tuanhaohuo, its B2C e-commerce business, to focus on developing new retail models, according to an internal memo. Launched in 2020, Tuanhaohuo explored parcel-based retail but fell behind in the shift toward quick commerce. Meituan said it will reassign affected staff as it expands its Shangou and Xiaoxiang Supermarket services nationwide.

Picea moves to take over iRobot

just now
iRobot
Shenzhen-based Picea Robotics will acquire US robot maker iRobot through a court-supervised process following a restructuring support agreement. The deal grants Picea full ownership, allowing iRobot to reduce its debt and continue operations. The pre-packaged Chapter 11 process is expected to conclude by February 2026.

China unveils new bond plan for 2026

just now
Bloomberg
China’s finance ministry plans to issue ultra long-term special government bonds in 2026 to fund national strategies, security initiatives, and large-scale upgrades in equipment and consumer trade-ins. The ministry also pledged to curb local debt and prevent the buildup of new hidden liabilities.

Transsion targets Hong Kong dual listing

just now
Semafor
Transsion, Africa’s largest smartphone maker, plans to raise up to USD 1 billion through a Hong Kong IPO after filing this month. Valued at about USD 13 billion in Shanghai, the Shenzhen-based firm aims to attract global investors and may use the funds to expand into EV mobility in Africa.

SpaceX readies for possible 2026 IPO

just now
WSJ
SpaceX is preparing for a potential 2026 IPO, CFO Bret Johnsen reportedly told employees in a memo, while noting that timing remains uncertain. A new internal share price of USD 421 values the company at about USD 800 billion. Proceeds could support Starship launches, space-based AI data centers, and Mars missions as SpaceX expands its Starlink network.

Huawei doubles down on AI research

just now
SCMP
Huawei has set up a new foundation model unit under 2012 Laboratories, its R&D arm, to advance large-scale AI development. The company is hiring global talent and reshaping its cloud division to focus on AI. Founder Ren Zhengfei said Huawei will prioritize applying AI in industry, agriculture, and technology over the next three to five years.

Pinduoduo faces probe, execs detained

just now
Nikkei Asia
Pinduoduo is under scrutiny after three executives were detained for allegedly scuffling with market regulators during a food safety inspection at its Shanghai office. One official was said to be injured, according to sources. The company denied the account, calling it “false.”

MiniMax plans Hong Kong IPO for R&D

just now
SCMP
MiniMax, backed by Alibaba and Tencent, plans to channel funds from its planned Hong Kong IPO into R&D and global expansion. With about 70% of revenue generated overseas, the firm aims to list as early as January. MiniMax develops multimodal models and ranks among China’s leading new generative AI players.

BYD turns to premium brands for growth

just now
Nikkei Asia
BYD is turning to its premium brands Denza and Fangchengbao to offset slowing domestic sales, which fell 12% YoY in October. Fangchengbao’s Tai 7 lifted sales by 400%, while Denza’s D9 minivan faces fresh competition. With margins narrowing to 4%, BYD is pushing deeper into the high-end EV segment to regain growth.

China moves to boost chip self-reliance

just now
Nikkei Asia
Beijing plans to steer state-owned AI data centers toward Chinese-made chips, with Huawei and Moore Threads expected to be recommended. The move advances China's goal of boosting chip self-sufficiency to 70% by 2027, even as US export curbs on Nvidia’s chips have been relaxed.

Huawei, SMIC advance in chip tech

just now
Bloomberg
Huawei’s Mate 80 Pro Max features the Kirin 9030 chip, built by SMIC using an upgraded seven-nanometer process that TechInsights said is China’s most advanced to date. The development marks steady progress for Huawei and SMIC, though the technology still lags behind chips made by TSMC and Samsung.

Kuaishou ups incentives for comic creators

just now
36Kr
Kuaishou has introduced new incentives for comic drama creators, offering studios up to a 4% ad rebate and a RMB 20,000 bonus for exclusive premieres, while individuals can earn RMB 10,000. Daily comic drama spending has reached RMB 7 million, with 99% of platform revenue shared with partners.

BYD finds European launchpad in Spain

just now
Nikkei Asia
BYD has made Spain its European logistics hub, overtaking the Netherlands and Belgium as key entry points. Imports reached 28,400 vehicles by October, supported by low labor costs and subsidies. Spain’s strong carmaking base and skilled workforce make it an attractive destination for Chinese automakers, according to analysts.

Nvidia builds tool to trace chip use

just now
SCMP
Nvidia has developed location verification software for its GPUs to help prevent smuggling to restricted markets. The optional open-source tool will debut on Blackwell chips, using telemetry data and confidential computing to estimate chip locations while ensuring there is no remote access or “kill switch” function.

OpenAI flags high cybersecurity risks

just now
Reuters
OpenAI warned that its upcoming AI models could present a “high” cybersecurity risk, with potential to develop zero-day exploits or assist complex cyber intrusions. To mitigate threats, the company said it will strengthen defensive capabilities, launch tiered access for cyberdefense users, and establish a "frontier risk council" for expert oversight.
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