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ASML warns 2026 growth may stall

just now
CNBC
ASML beat Q2 2025 estimates with EUR 7.7 billion in sales and EUR 5.5 billion in bookings but warned of potential flat growth in 2026 amid rising global uncertainty. The company also trimmed its 2025 outlook and issued soft Q3 guidance, sending shares lower despite continued AI-driven demand.

Sino Biopharm to fully acquire LaNova

just now
Jiemian News
Sino Biopharmaceutical plans to acquire the remaining 95.09% of LaNova Medicines for up to USD 951 million, raising its stake to 100%. After accounting for LaNova’s estimated USD 450 million in cash, the net payment will be about USD 500 million. The deal strengthens Sino Biopharm’s pipeline as it targets the launch of 30 new drugs by 2027.

MiniMax nears USD 300 million raise

just now
21st Century Business Herald
MiniMax, one of China’s leading AI startups, is reportedly closing a nearly USD 300 million funding round that would push its valuation above USD 4 billion. Founded by former SenseTime executive Yan Junjie, the company recently launched its MiniMax-M1 foundation model and multimodal agents. The company declined to confirm the raise, and is also said to be nearing a Hong Kong IPO.

ByteDance denies H20 chip purchase

just now
Sina
ByteDance has denied reports that it applied to purchase Nvidia’s H20 chip, which was recently cleared by US authorities for export to China. A company spokesperson said no request had been made and called the reports inaccurate. Tencent, also named in the reports, has yet to respond.

Citigroup eyes tokenized deposits, crypto

just now
Reuters
Citigroup CEO Jane Fraser said the bank is exploring the launch of a Citi stablecoin and is actively developing tokenized deposit solutions. The bank is also assessing crypto custody and reserve management. The announcement came as Citi shares rose on strong Q2 earnings and a planned USD 4 billion stock buyback.

Grok adds anime-style “companions”

just now
Cailian Press
xAI’s Grok chatbot has introduced a “companions” feature that turns it into anime-style personas like Ani and Bad Rudy. Available to SuperGrok subscribers, the update has drawn criticism over NSFW content and the potential for emotional overreliance. Critics point to past risks, including a teen suicide linked to prolonged AI interaction.

JPMorgan’s Dimon warms to crypto shift

just now
The Block
JPMorgan CEO Jamie Dimon said the bank will engage with stablecoins and its own JPMD token “to understand it, to be good at it,” despite his longstanding skepticism of crypto. The blockchain-based deposit token will be piloted on Coinbase’s Base network for institutional use, reflecting Wall Street’s growing embrace of digital assets.

Thinking Machines closes seed round

just now
TechCrunch
Thinking Machines Lab, the AI startup founded by former OpenAI CTO Mira Murati, has closed a USD 2 billion seed funding round led by Andreessen Horowitz, with backing from Nvidia, Accel, ServiceNow, Cisco, AMD, and Jane Street. The deal values the company at USD 12 billion, with its first product set to launch in the coming months.

Tesla launches Model Y in India

just now
CNBC
Tesla has launched the Model Y in India, starting at nearly USD 70,000, well above US pricing, due to high import duties and taxes. The debut coincides with the opening of its first showroom in Mumbai, with more locations planned. Analysts say Tesla is testing the premium EV market before committing to local manufacturing.

AMD cleared to resume China chip sales

just now
Bloomberg
AMD said it will resume shipments of its MI308 chips to China after US authorities agreed to review license applications, reversing earlier export curbs. The move follows similar approval for Nvidia’s H20 chip and could soften the USD 800 million hit AMD had previously projected.

CMBI gets Hong Kong crypto licence

just now
SCMP
CMB International Securities has received a virtual asset licence from Hong Kong’s Securities and Futures Commission, becoming the first mainland Chinese broker approved to offer crypto trading, custody, and advisory services in the city. The move aligns with Beijing’s support for Hong Kong’s crypto ambitions but maintains restrictions on mainland investor access.

Zeekr to go private in Geely buyout

just now
Reuters
Geely will take Zeekr private in a USD 2.4 billion buyout that values the premium EV unit at USD 6.83 billion. The deal, expected to close in Q4 2025, comes just over a year after Zeekr’s US IPO and signals Geely’s shift toward operational streamlining amid intensifying EV price competition in China.

Latin America builds its own GPT

just now
Rest of World
Latam-GPT, Latin America’s first open-source LLM, is set to launch in September with 50 billion parameters. Led by Chile’s CENIA and supported by over 30 partners, the project centers on local dialects, Indigenous languages, and cultural context. It aims to narrow the AI gap, though challenges in infrastructure, inclusion, and privacy remain.

China’s top airlines extend H1 losses

just now
Nikkei Asia
Air China, China Southern Airlines, and China Eastern Airlines reported estimated H1 2025 losses totaling up to RMB 5.55 billion, citing fare competition, weak demand, and macro headwinds. Regulators have urged carriers to rein in price wars, even as smaller players like China Express Airlines turn profitable amid rising domestic travel.

Shenzhen rolls out robot fleet in subways

just now
SCMP
Shenzhen has launched a global-first project deploying 41 autonomous delivery robots to restock over 100 7-Eleven stores across its subway system. Operated by a Vanke logistics unit, the robots board trains, ride lifts, and deliver goods during off-peak hours as part of the city’s broader plan to scale urban robot use by 2027.

China restricts EV battery tech exports

just now
NYTimes
China has imposed new export controls on eight key EV battery technologies, including LFP processes, requiring firms to obtain licenses for any overseas transfers. The move could hinder the global expansion of Chinese battery makers and complicate plans for overseas factories in Europe and the US.

Apple could tap Samsung for foldable display

just now
Ming-Chi Kuo
Apple is expected to adopt Samsung’s crease-free display tech for its foldable iPhone debut in H2 2026, using a custom metal plate from Fine M-Tec to reduce stress at fold points. Analyst Ming-Chi Kuo said Fine M-Tec will begin shipments in Q1 2026, targeting 13–15 million units and an 80% supply share.

Apollo Go joins Uber in global push

just now
Baidu
Baidu and Uber have formed a multiyear partnership to deploy Apollo Go autonomous vehicles across select markets outside the US and mainland China. The first rollouts are expected in Asia and the Middle East later this year, giving Uber riders the option of fully driverless rides via Baidu’s fleet.

Pop Mart expects profit to soar 350%

just now
Pop Mart
Pop Mart expects at least 200% YoY revenue growth and over 350% profit gain for H1 2025, citing stronger global brand visibility, a rising share of overseas income, and enhanced cost management. The figures are based on unaudited results and may differ upon final review.

Chagee returns to Vietnam after boycott

just now
Chagee
Chinese tea chain Chagee has reopened in Ho Chi Minh City after a boycott in March tied to its mobile app. The company has launched a new store and is offering discounts to regain customers.
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