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Ping An’s equity spree faces investor doubts as profits fall

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China narrows AI gap with US

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SCMP
China has reportedly narrowed its gap in AI development with the US to about three months, driven by rapid iteration, open-source model advances, and strategic chip reserves, according to CITIC CLSA. However, it still lags in advanced semiconductor production, which remains a longer-term hurdle that constrains progress in cutting-edge AI capabilities.

Xiaomi exec reacts to iPhone launch

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36Kr
Xiaomi executive Lu Weibing has dubbed Apple’s iPhone 17 lineup its most significant redesign to date, praising the iPhone Air’s ultra thin form and saying the new Pro’s bold look, while controversial, enhances brand visibility. He expects the year ahead to be pivotal for smartphone design innovation.

Game, film rebound lifts China’s media sector

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36Kr
China’s media sector recorded a 39.3% YoY jump in net profit to RMB 221.7 billion in H1 2025, as gaming and film content improved in both supply and quality. Revenue rose 3.3% to nearly RMB 2.7 trillion. Huatai Securities expects momentum to continue in H2, supported by policy, AI rollout, and robust content pipelines.

UAE’s K2 Think rivals OpenAI, DeepSeek

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CNBC
The Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has launched K2 Think, a compact AI model built on Alibaba’s open-source Qwen 2.5. Developed with G42 and tested on Cerebras hardware, the system reportedly matches OpenAI and DeepSeek on scientific reasoning tasks while offering a lower-cost alternative to larger models.

Tesla loses ground in China EV race

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SCMP
Tesla’s mainland China sales fell 9.9% YoY in August to 57,152 units, extending a six-month decline. Its share of China’s EV market dropped to 4.4%, down from 16% in 2020. Local rivals like Xpeng, Xiaomi, and Leapmotor continue to gain ground with lower-cost, tech-focused models, despite Tesla’s recent price cuts and incentives.

China’s Unitree eyes RMB 50 billion IPO

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CNBC
Unitree Robotics is reportedly preparing to file for an IPO in Q4 2025, targeting a valuation of up to RMB 50 billion. Already profitable and active in factory deployments, Unitree could become one of the first humanoid robotics firms to go public.

Reflection AI set for USD 1 billion raise

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Financial Times
Reflection, an AI startup backed by Nvidia and Sequoia Capital, is finalizing a USD 1 billion fundraise that could lift its valuation to as much as USD 5.5 billion, ten times its level six months ago. Founded by former Google and DeepMind researchers, the company builds AI-driven tools for software development and aims to develop superintelligent systems.

Nvidia to launch Rubin CPX in 2026

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Bloomberg
Nvidia will launch Rubin CPX in late 2026, a GPU designed to improve AI efficiency by separating input processing from response generation. Targeting code and video generation, the chip can be deployed as standalone systems or server cards. Nvidia says a USD 100 million deployment could generate USD 5 billion in revenue.

Chinese-built airport opens in Cambodia

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CNA
Techo International Airport, a new USD 2 billion facility built by a Chinese state-owned firm, opened near Phnom Penh on September 9. Backed by Cambodian and private investors, the project underscores China’s growing role in Cambodian infrastructure. China also funded the Angkor airport, which opened in 2023.

MGI Tech unveils fastest gene sequencer

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SCMP
Shenzhen-based MGI Tech has launched the DNBSEQ-T7+, a high-speed gene sequencer it claims is the world’s fastest, capable of reading 144 human genomes per day. With twice the throughput, improved accuracy, and a compact design, the system targets breakthroughs in cancer and rare disease research. Global shipments are slated to begin in late 2025.

China leads in global clinical trials

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Jiemian News
China now leads the world in clinical trial volume, with over 7,100 trials registered in 2024 and a 30% global share. Industry leaders cite faster timelines, lower costs, and growing international recognition as drivers of China’s biotech exports and licensing deals, which now exceed equity financing and totaled over USD 60 billion in H1 2025, partly fueled by NewCo-style internationalization.

Xiaomi ousts China marketing head

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Jiemian News
Xiaomi has dismissed Wang Teng, head of China marketing and its Redmi brand, for leaking confidential information and violating company ethics rules. An internal memo also cited conflicts of interest. Wang apologized publicly, admitted missteps, and denied any illegal activity. His social media accounts have since been restricted or removed.

Xiaomi explains YU7 sticker marks

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Jiemian News
Xiaomi has issued an apology after some YU7 SUV buyers reported “test vehicle” sticker residue on windshields. The static decals were used during factory inspections and leave removable marks. Xiaomi said the issue has been resolved with redesigned stickers and won’t affect future deliveries.

GoodMe eyes move into Shanghai market

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Yilan Shangye
GoodMe, a leading Chinese tea chain, is signaling a move into Shanghai after clarifying it has no IPO plans there. Trial runs, franchise interest, and local hiring suggest broader expansion beyond its footprint of over 12,000 stores, largely concentrated in eight provinces.

Ant Digital tokenizes clean energy projects

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Bloomberg
Ant Digital Technologies has linked over RMB 60 billion in clean energy assets to its AntChain blockchain and raised RMB 300 million by tokenizing project data from devices like solar panels and EV chargers. The company is exploring offshore token listings and participating in Hong Kong pilots as crypto rules evolve in China.

Temu slashes prices in US comeback

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Bloomberg
Temu is reportedly reentering the US market with steep discounts after tariff changes disrupted its business model. Prices on bestselling items are down by up to 60%, and the platform has resumed ads and waived import fees. Now rebuilding its logistics network and urging sellers to cut prices, Temu is aiming to regain ground ahead of the holiday season.

BYD unveils EV plans for Europe

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BYD
At IAA Mobility 2025, BYD unveiled the Seal 6 DM-i Touring and confirmed its Hungary factory will begin production by late 2025, starting with the Dolphin Surf. The company also plans to deploy 200–300 charging stations across Europe by 2026, using battery storage to deliver high output with minimal grid demand.

ByteDance launches Seedream 4.0

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ByteDance
ByteDance’s Seed team has released Seedream 4.0, a multimodal AI model for text-to-image generation and editing. It supports 4K output, faster inference, visual signal control, and in-context reasoning. Now live via Dreamina, Doubao, and Volcano Engine, the unified system has shown notable performance across creative tasks.

Xpeng to debut flying car in Dubai

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Sina
Xpeng Motors will conduct the overseas maiden flight of its first flying car in Dubai this October, chairman He Xiaopeng announced in Munich. The vehicle has reportedly logged over 5,000 orders and is slated for delivery in the second half of 2026.

CodeBuddy IDE goes global in open beta

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IT Zhijia
Tencent has released its AI CLI tool, CodeBuddy Code, and launched the global open beta of CodeBuddy IDE. The move positions Tencent Cloud as China’s first provider to support AI-driven coding across plugin, IDE, and CLI formats. Developers can use natural language in the terminal to automate tasks like refactoring, testing, and deployment.
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