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Pop Mart’s strong results fail to answer “next Labubu” question

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Pulses

Hillhouse opens Abu Dhabi office

just now
Jiemian News
Hillhouse Investment has opened an office in Abu Dhabi Global Market (ADGM) after obtaining a 3C license from the emirate's Financial Services Regulatory Authority (FSRA), expanding its presence in the Gulf region.

CMES flags volatility, halts Gulf routes

just now
Jiemian News
China Merchants Energy Shipping (CMES) said its shares showed abnormal volatility after a three-day deviation exceeding 20%. The company said operations remain stable and no major deals are planned, but its fleets, including oil tankers, have paused Persian Gulf routes due to Middle East tensions.

WeRide lands 300-unit robot sweeper deal

just now
Jiemian News
WeRide has launched its S3 and S5 robotic sweeping vehicles and signed a deal with Clean Pro for at least 300 S3 units over five years, with the first 100 units scheduled for delivery within one year.

Japan startup tests Unitree robots in hospitals

just now
Nikkei Asia
Zeals is piloting Unitree Robotics’ G1 humanoid robots in Japan, including hospital trials where they guide patients in Japanese. The startup plans to layer Japanese service standards onto the robots.

JD launches dining group buy in 100 cities

just now
Sina
JD.com said its group buy business is now live in pilot mode across 100 cities, covering over one million dining outlets. The feature sits within its quick commerce channel and is paired with a promotion offering tea and coffee discounts for qualifying orders.

Xpeng shifts to direct distribution in Australia

just now
National Business Daily
Xpeng said its Australian dealer TrueEV has entered administration, citing a funding breakdown, no vehicle purchases for over a year, and refusal to fulfill 454 orders. It will replace the exclusive arrangement with direct operations, building dealer networks, logistics, and service systems across Australia.

Alibaba launches Qwen3.6-Plus model

just now
Alibaba
Alibaba has released Qwen3.6-Plus, adding agentic coding and multimodal reasoning with a context window of one million tokens, supporting autonomous code generation and integration across its Wukong platform and Qwen app.

Doubao usage tops 120 trillion tokens

just now
Sina
ByteDance's Volcano Engine said its Doubao model surpassed 120 trillion daily token usage as of March, doubling in three months. It has also launched public beta access to the Seedance 2.0 API for enterprise AI video creation.

WeRide, Grab start Singapore robotaxi service

just now
WeRide
WeRide and Grab have launched autonomous ride services in Singapore's Punggol district, the first in a residential area, after trials covering 30,000 kilometers. The service is free during the initial phase, with commercial operations planned for mid-2026.

Xiaomi hires former Tesla exec

just now
Jiemian News
Former Tesla China executive Kong Yanshuang is said to have joined Xiaomi to oversee automotive sales, as the company strengthens its retail operations while targeting 550,000 vehicle deliveries in 2026.

CaoCao gets driverless test approval

just now
Guandian
CaoCao Mobility has gained approval to test autonomous vehicles without safety drivers in Hangzhou, becoming the city's first to do so, as it advances robotaxi deployment with the target of 100,000 vehicles across 100 cities by 2030.

Miniso’s Top Toy refiles for IPO

just now
Jiemian News
Miniso's Top Toy refiled for a Hong Kong IPO on March 31 with JPMorgan and UBS as sponsors, after its first application lapsed. The toy retailer also reported 2025 revenue of RMB 3.59 billion and profit of RMB 101 million.

Apollo Go starts driverless rides in Dubai

just now
Baidu
Baidu’s Apollo Go began fully driverless commercial operations in Dubai on March 30, deploying fleets under regulatory oversight and partnering with Dubai Taxi Company and Uber, as it expands a global robotaxi network with over 20 million completed rides.

Volvo to run Lynk & Co ops in Europe

just now
Volvo
Volvo has signed a memorandum of understanding with Geely to become the exclusive importer and operator of Lynk & Co in Europe, using its retail and service network to sell and support the brand, while Lynk & Co's global operations remain under Geely.

Moore Threads signs RMB 660 million deal

just now
Moore Threads
Moore Threads said it signed a RMB 660 million contract to supply its KUAE computing cluster to an undisclosed client, with payments staged through 2026. The company said the deal is expected to support revenue growth if fully executed.

iQiyi files for Hong Kong listing

just now
Securities Times
iQiyi has confidentially filed for a Hong Kong listing and approved a share buyback of up to USD 100 million, aiming to expand its investor base and funding channels. The plan remains subject to regulatory approvals, with details yet to be finalized.

TikTok responds to Australia probe

just now
Bloomberg
TikTok said it is cooperating with Australia’s eSafety regulator as it reviews compliance with the country’s under-16 social media law, which took effect on December 10, 2025. The company added that it is focused on strengthening age assurance technology and enforcement, and will continue engaging with authorities as the assessment proceeds.

Chinese ships exit Hormuz strait

just now
Nikkei Asia
Two COSCO-operated Chinese container ships sailed through the Strait of Hormuz on March 30 on their second attempt, becoming the first non-Iranian container vessels to leave the Persian Gulf since the US-Israeli conflict with Iran began on February 28. The ships moved in close formation toward the Gulf of Oman.

Moonshot’s ARR tops USD 100 million

just now
Jiemian News
Moonshot AI’s ARR surpassed USD 100 million in early March, roughly a month after the launch of its Kimi K2.5 model, according to a person familiar with the matter. API token-per-minute quotas have tightened, with some clients offering higher spending commitments and prepayments for priority access.

Alibaba Health partners AstraZeneca

just now
Guandian
Alibaba Health has signed a partnership agreement with AstraZeneca to co-develop digital healthcare services focused on disease management. The collaboration will target areas including respiratory, cardiovascular and metabolic conditions, combining medical expertise with digital tools for patient support.
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