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

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Pulses

China banks to pay RMB 427 billion dividends

just now
SCMP
China’s six largest state-owned banks plan to distribute about RMB 427.4 billion in 2025 dividends, up 1.6% YoY, extending record payouts as investors shift toward defensive, income-generating assets.

Didi suspends water batch after complaint

just now
IT Zhijia
Didi is investigating a chemical-like taste complaint linked to in-car drinking water, suspending the remaining batch and notifying its supplier. The company is reviewing ride records and cooperating with police as the probe continues.

China turns to coal, EVs to cut oil reliance

just now
NYTimes
China is reducing oil dependence by expanding reserves, scaling EV adoption, and shifting to coal-based chemical production, with demand for gasoline and diesel declining for two years as Middle East disruptions strain global supply.

Alibaba upgrades Qwen with finance tools

just now
IT Zhijia
Alibaba has enhanced Qwen's deep research feature with financial analysis tools, integrating real-time data for roughly 13,000 stocks and about one million company filings. The feature is now available for free across its app and web platform.

Qwen3.6-Plus tops OpenRouter rankings

just now
36Kr
Alibaba's Qwen3.6-Plus ranked first globally in OpenRouter's weekly API usage and led daily charts for four straight days. It is also reportedly the first model on the platform to exceed one trillion tokens in a single day.

BYD added to Brazil labor abuse registry

just now
CNA
Brazil has added BYD to a labor abuse registry over a 2024 case involving alleged worker exploitation. The move may restrict access to certain bank loans and adds reputational risk, but does not affect operations at its local car plant.

Meituan launches healthy dining initiative

just now
IT Zhijia
Meituan has launched a healthy dining partner program with FHE, covering 20 brands and introducing standards for nutrition transparency and food safety. It will add AI-powered tools for meal recommendations, diet analysis, and personalized nutrition guidance.

Foxconn posts record March revenue

just now
Cailian Press
Foxconn reported record March revenue of TWD 803.7 billion, up 45.57% YoY and 34.90% MoM. First-quarter revenue reached TWD 2.13 trillion, rising 29.68% YoY but falling 18.18% QoQ.

China tightens scrutiny on offshore IPOs

just now
SCMP
Beijing is tightening scrutiny of offshore “red-chip” listing structures, requiring more disclosures on foreign exchange and investment flows while pushing firms toward mainland entities. The shift may slow Hong Kong IPO approvals and complicate access for USD-denominated funds.

Honor, JD target RMB 100 billion tie-up

just now
36Kr
Honor and JD.com have signed a partnership deal targeting over RMB 100 billion in collaboration over three years, spanning product co-development, user operations, and AI ecosystem integration across devices, retail, and robotics.

CATL targets ship electrification with batteries

just now
Financial Times
CATL said it will expand into electric shipping, with batteries deployed on about 900 vessels and plans to grow its marine unit. The company is focusing on nearshore operations and developing battery swapping systems as it builds a marine supply chain.

Hongguo pulls short dramas over violations

just now
IT Zhijia
Hongguo said it has removed 670 AI-generated short dramas after auditing 15,000 titles for unauthorized content use, part of a broader Q1 crackdown that saw 1,718 shows taken down. The platform said repeat violations could lead to bans or legal action.

Xiaomi expands same-day delivery

just now
IT Zhijia
Xiaomi has launched same-day delivery for large appliances across 50 cities, with orders placed before 11 a.m. eligible for delivery by midnight. The service covers products including TVs, air conditioners, refrigerators, and washing machines.

HarmonyOS logs 630 million kilometers in March

just now
IT Zhijia
HarmonyOS logged 630 million kilometers of assisted driving usage in March, with active users exceeding 95%. The system reportedly recorded 263,000 avoided collisions and reached 7.74 billion kilometers in cumulative assisted driving mileage.

GAC Trumpchi teases hybrid offroad SUV

just now
IT Zhijia
GAC Trumpchi has previewed a new offroad SUV featuring plug-in hybrid power and a digital chassis. The model adopts a boxy design with a rear-mounted spare tire and is set to debut on April 24.

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.
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