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Pulses

Tesla loses edge as politics, rivals bite

just now
Reuters
Tesla’s US customer loyalty reportedly plunged from 73% in June 2024 to 49.9% by March 2025, following Elon Musk’s endorsement of Donald Trump and rising political engagement. S&P data shows Tesla has slipped from top in loyalty to industry average, as rivals gain ground and EV competition intensifies.

China floods Asia with plastic exports

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Nikkei Asia
China’s plastic exports surged in H1 2025, with volumes doubling in some resins and prices falling by as much as 20%. Amid weak domestic demand, China ramped up shipments of PVC, polystyrene, and polypropylene, putting pressure on regional producers. Japan’s imports rose sharply as Chinese supply rippled through Asian markets.

Beijing E-Town hosts robot shopping festival

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SCMP
Beijing’s E-Town is hosting a robot shopping festival through August 17, offering subsidies of up to RMB 250,000 for buyers. Featuring 63 brands including Unitree and UBTech, among others, the event includes the launch of a new robot store and over 680 models available via JD.com. It follows a national surge in robot production in H1 2025.

Xgimi to pursue H-share issuance

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36Kr
Xgimi Technology, a Chinese consumer electronics firm, said it plans to issue H-shares and seek a listing on the Hong Kong Stock Exchange’s Main Board. The company is in talks with intermediaries, but the details of the offering have not yet been finalized.

Anta declines to comment on Reebok rumor

just now
Jiemian News
Anta Sports has declined to comment on reports that it is nearing an acquisition of US sportswear brand Reebok. In a statement, the company said it does not respond to market rumors and advised relying on official announcements for accurate information.

Tencent open-sources compact AI models

just now
36Kr
Tencent has open-sourced four compact language models under its Hunyuan family, ranging from 500 million to seven billion parameters. Built to run on consumer-grade GPUs, the models support low-power use in laptops, smartphones, smart cockpits, and smart homes, and enable cost-effective fine-tuning for vertical applications.

Baidu to deploy robotaxis via Lyft

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Baidu
Baidu and Lyft will launch Apollo Go robotaxi services in Germany and the UK in 2026, pending regulatory approval. The partnership combines Baidu’s autonomous driving tech with Lyft’s European footprint via Freenow, aiming to scale autonomous ride-hailing across key markets while meeting safety and compliance standards.

Tianlala opens three stores in Bali

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Tianlala
Chinese tea chain Tianlala opened three new stores in Bali on August 3, expanding to 130 signed stores in Indonesia and over 200 globally. Located in key commercial areas, the stores reportedly drew more than 1,000 visitors on day one. The brand aims to deepen its Southeast Asia presence while exploring expansion into Europe and the Middle East.

Haidilao adds “nightclub” shows for women

just now
Dao Insights
Haidilao has introduced a “nightclub mode” at select hotpot restaurants across China, featuring DJs, ambient lighting, and male dancers performing for mostly female diners after 9:40 p.m. First launched in Guangzhou in January, the format has drawn full crowds and sparked debate over brand image and the rise of female-driven spending.

Chinese game exports hit USD 9.5 billion

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Global Times
China's game makers are accelerating overseas expansion, with exports reaching USD 9.5 billion in H1 2025, up 11% YoY, according to the China Digital Entertainment Industry Congress. Firms like Century Games now earn most of their revenue abroad, as titles like Black Myth: Wukong and Wuchang: Fallen Feathers boost global visibility and appeal.

Sohu Q2 revenue drops 27% YoY

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Sohu
Sohu reported USD 126 million in revenue for Q2 2025, down 27% YoY, with a net loss of USD 20 million. Online game revenue fell 28% to USD 106 million, while marketing services rose 14% from the previous quarter. Modest user growth in legacy PC titles helped offset a steep decline in mobile game engagement.

Shanghai clears Pony.ai for rollout

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Pony.ai
Pony.ai has reportedly secured a permit to operate fully driverless commercial Robotaxi services in Shanghai’s Pudong New Area. Launching in Jinqiao and Huamu, the move makes Pony.ai the only company currently licensed in all four of China’s first-tier cities.

Xiaomi unveils open-source voice model

just now
Bloomberg
Xiaomi has released MiDashengLM-7B, an open-source voice model built on Alibaba’s Qwen2.5-Omni-7B, to power AI in its EVs and smart home devices. The launch supports Xiaomi’s diversification beyond smartphones and reflects China’s broader push for open-source AI development.

Heytea expands US footprint with 35th store

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Jiemian News
Heytea has opened its 35th US store near Apple’s headquarters in Cupertino, marking a milestone in its overseas expansion to 115 locations across eight countries. As one of China’s fastest-growing tea brands abroad, Heytea pairs local teams with bold design and premium pricing to win over high-end markets.

TikTok Shop finds traction in Japan

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Ebrun
TikTok Shop generated USD 3.36 million in GMV in Japan in its first full month after launching on June 30, with daily sales in July averaging over USD 100,000 and peaking at USD 290,000. Digital accessories topped category rankings, while seller performance varied based on localization and product differentiation.

Revenue Scaler acquires Kabana

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Revenue Scaler
Revenue Scaler has acquired Kabana, a regional e-commerce analytics firm integrated with over 400 stores across platforms including Shopee and TikTok Shop. The deal enhances Revenue Scaler’s internal intelligence capabilities as it develops a unified, AI-driven e-commerce intelligence layer for Southeast Asia.

China opens door to Brazilian coffee

just now
Reuters
China has approved 183 Brazilian coffee companies to export to its market starting July 30, the Chinese embassy in Brazil said. The move offers an outlet as the US imposes 50% tariffs on Brazilian products from August 6, threatening a USD 4.4 billion trade and forcing exporters to seek alternatives.

Leapmotor, Xpeng hit record July sales

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SCMP
Leapmotor and Xpeng set new records in July, delivering 50,129 and 36,717 EVs respectively, as China’s price war showed signs of easing and demand shifted toward budget-friendly smart models. Xiaomi also exceeded 30,000 units, with its new YU7 SUV drawing 240,000 preorders in two days.

Chinese suppliers join Toyota’s Thai push

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Nikkei Asia
Toyota is sourcing more Chinese-made parts in Thailand to reduce costs for a new electrified car model set to launch in 2028. The company facilitated a joint venture between Thailand’s Summit Group and China’s Yuefei New Materials to produce components locally, marking the first known case of a major Japanese automaker bringing a Chinese supplier into Southeast Asia.

Agibot eyes delivery surge in 2025

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36Kr
Agibot expects to ship several thousand robots in 2025 as it enters a phase of focused commercial delivery. The company said it recently secured a RMB 78 million order from China Mobile and has begun expanding overseas. At WAIC 2025, Agibot partnered with Damon to showcase a data-driven logistics robot ostensibly capable of six-second item sorting.
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