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Chinese AMR firms line up Hong Kong IPOs to test investor appetite

5 mins read

Pulses

Nvidia CEO says China chip talks ongoing

just now
SCMP
Nvidia CEO Jensen Huang said White House talks on allowing sales of a reduced-capability version of its Blackwell GPU to China have begun but will take time. Trump has suggested permitting exports of chips 30–50% weaker than standard models. Huang said Nvidia is open to conditions, citing China’s USD 50 billion AI market potential.

Yadea opens e-scooter plant in Thailand

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Nikkei Asia
Yadea, China’s leading two-wheeler maker, has opened a plant in Samut Prakan, Thailand, with plans to produce 600,000 e-scooters over three years. Its first model, the RS20, will launch at THB 41,900, about 30% below Honda’s mainline scooter. The move underscores intensifying Chinese-Japanese competition in Southeast Asia’s two-wheeler market.

Wahaha equity dispute escalates to top courts

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KrASIA
On August 27, Wahaha chair Zong Fuli petitioned China’s top court and procuratorate to expedite a dispute over the employee shareholding committee’s 24.6% stake. The conflict traces back to contested 2018 buybacks and could decide whether Zong, who inherited 29.4% from her late father, becomes the group’s largest shareholder.

SenseTime narrows losses, boosts AI growth

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SenseTime
SenseTime posted H1 2025 revenue of RMB 2.4 billion, up 36% YoY, driven by 73% growth in generative AI, which now accounts for 77% of its sales. Adjusted net loss narrowed 50%, while trade receivable collections hit a record RMB 3.2 billion, up 96%. Cash reserves rose to RMB 13.2 billion.

Heytea under fire over trans fat claims

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Dao Insights
Chinese tea chain Heytea is under scrutiny after a media test found trans fatty acids in one of its milk tea drinks. The company said the content came from dairy milk, but critics pointed to earlier promises of zero trans fats. While levels meet national standards, the findings pose a challenge to Heytea's health-focused brand image.

Tesla sales fall in Europe as BYD surges

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CNBC
Tesla’s European sales fell 40% YoY in July to 8,837 units, its seventh consecutive monthly decline, according to the European Automobile Manufacturers Association (ACEA). BYD, meanwhile, rose 225% YoY to 13,503 registrations as it expands in Europe. Tesla’s challenges reportedly include an aging car lineup, intensifying competition, and reputational issues linked to Elon Musk.

Hollyland consolidates its brand identity

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36Kr
Hollyland has consolidated with its overseas brand Moma to form the unified global brand Hollyland Moma. Co-founder Vincent Ma announced the move in Shenzhen, saying the realignment is intended to unify user experience and branding across markets for the company’s wireless audiovisual products.

Li Auto to mass produce M100 chip in 2025

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LatePost
Li Auto plans to start mass producing its M100 autonomous driving chip this year while continuing to equip current models with chips from Nvidia and Horizon Robotics. CTO Xie Yan is leading a co-optimization strategy aimed at boosting efficiency and reducing reliance on external suppliers. Executives said in-house chips tailored to Li Auto’s algorithms will improve both performance and cost competitiveness.

Dreame to debut luxury EV in 2027

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IT Zhijia
Dreame has announced it plans to enter the EV market, starting with a luxury car model set to debut in 2027. Positioned against the Bugatti Veyron, the car will feature a proprietary AI-driven companion system that learns driver habits and emotions, and cross-ecosystem connectivity with smart devices. A team of nearly 1,000 is reportedly developing the project.

Nvidia weighs bringing Blackwell chips to China

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CNBC
Nvidia CEO Jensen Huang said there is a “real possibility” of bringing the company’s Blackwell AI processors to China, pending US export approvals. He added that China’s AI market could grow 50% in 2026, calling it a USD 50 billion opportunity.

CATL debuts Tener Stack in South America

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CATL
CATL has debuted the Tener Stack, a massive energy storage system, at this year's Smarter E South America expo. Engineered for Brazil’s grid and the region’s varied climates, the system combines high capacity with transport and safety innovations. CATL is also deepening its presence with regional teams across South America and a new office opening in Chile in September.

Free Fire outpaces rival titles in US spending

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Bloomberg
Free Fire, a title managed by Sea’s Garena arm, surpassed Call of Duty: Mobile in US gamer spending in July, ranking as the top-grossing mobile shooting game. Circana credited tie-ins with Naruto Shippuden and Netflix’s Squid Game for boosting sales.

XtalPi reports record growth, first H1 profit

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XtalPi
XtalPi reported H1 2025 revenue of RMB 517 million, up 404% YoY, and adjusted net profit of RMB 141 million, its first half-year profit. Revenue growth was driven by a 615% surge in drug discovery solutions, milestone collaborations such as a USD 51 million deal with professor Gregory Verdine, and advances in AI- and robotics-enabled R&D platforms.

Musinsa, Anta form joint venture

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Musinsa
Musinsa has partnered with Anta Sports to launch a joint venture to expand the South Korean fashion platform into the Chinese market. Musinsa will hold 60% and Anta 40%, with the venture overseeing both online and offline expansion. The deal is expected to close by September, pending regulatory approval.

Innovent expands portfolio, lifts H1 profit

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Innovent Biologics
Innovent Biologics reported H1 2025 revenue of RMB 5.95 billion, up 50.6% YoY, and net profit of RMB 1.21 billion. The company expanded its portfolio to 16 drugs, including three new oncology launches, advanced global pipeline trials, and reaffirmed its target of RMB 20 billion product revenue by 2027.

Alibaba Cloud releases Wan2.2-S2V

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SCMP
Alibaba Cloud has launched Wan2.2-S2V, the newest variant of its open-source AI model that creates expressive character videos from static images and audio. The tool supports multi-character scenes, high-definition output, and is available on Hugging Face, GitHub, and ModelScope.

Xpeng debuts new P7 sedan in China

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Xpeng
Xpeng has launched the new P7 electric sedan in Guangzhou, offering four editions priced RMB 219,800–301,800. Built on an 800-volt platform with 5C charging and up to 820 kilometers of range, the EV features Xpeng’s Turing chips and VLA (vision-language-action) model for advanced driving assistance.

Tuya posts Q2 growth, announces payout

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Tuya
Tuya reported Q2 2025 revenue of USD 80.1 million, up 9.3% YoY, with net profit rising to USD 12.6 million from USD 3.1 million. Gross margin held at 48.4% and operating margin turned positive at 1.4%. The board declared a USD 0.054 cash dividend per share or ADS, totaling about USD 33 million and payable in October.

Galbot powers G1 robot with Nvidia’s Thor

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Galbot
Galbot has chosen to integrate the Nvidia Jetson AGX Thor into its G1 Premium humanoid robot. The upgrade will reportedly deliver faster reasoning, smoother motion, and up to 7.5 times more AI compute than the previous generation, supporting its commercial deployments across retail, healthcare, logistics, and pharmacy networks in China.

DeepRoute.ai launches IO 2.0 platform

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DeepRoute.ai
DeepRoute.ai has launched IO 2.0, a smart driving platform powered by its VLA (vision-language-action) model, offering “human-like driving experiences for everyday users.” The system supports LiDAR and vision-only setups and will debut on Nvidia Drive AGX Thor. With five OEM partnerships secured, the first vehicles are slated to hit the market later this year.
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