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GITEX Global 2025 returns to Dubai, spotlighting “future-critical sectors” worldwide

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Pulses

Valtor raises pre-seed funding

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Valtor
Valtor Solutions, a construction sourcing startup based in the Philippines, has raised USD 700,000 in a pre-seed funding round led by Wavemaker Impact. The company integrates supplier vetting, logistics, and design services to help developers source sustainable materials faster and at lower cost. Valtor plans to launch its AI-powered BOQ (bill of quantities) platform in October to expand across Southeast Asia.

Optics maker Innolight eyes Hong Kong IPO

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Bloomberg
Zhongji Innolight, a maker of optical communication modules, is exploring a Hong Kong listing, according to people familiar with the matter. The company’s Shenzhen-listed shares have more than tripled this year, giving it a market capitalization of about RMB 450 billion. The potential move would add to a wave of mainland firms seeking funds in Hong Kong.

SAIC sales rise 40.4% in September

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Jiemian News
SAIC Motor sold 440,000 vehicles in September, up 40.4% YoY, maintaining its lead in China’s automotive market. Wholesale volumes for the first nine months rose 20.5% to 3.19 million units. Sales of self-owned brands grew 50.4%, new energy models 46.5%, and overseas markets 12.2%, reflecting broad-based growth across key segments.

xAI lifts funding target to USD 20 billion

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Bloomberg
Elon Musk’s xAI is expanding its ongoing fundraising round to USD 20 billion, with investors including Nvidia, Apollo Global Management, and Diameter Capital Partners, according to people familiar with the matter. The financing, structured through a special purpose vehicle, will fund Nvidia processors for xAI’s Colossus 2 data center in Memphis.

Tesla rolls out lower-priced EVs amid slump

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CNBC
Tesla has unveiled lower-priced standard versions of its Model Y SUV and Model 3 sedan, both priced below USD 40,000, alongside an update to its supervised FSD system. Shares slipped after investors hoping for new model announcements were disappointed. The move comes as Tesla faces mounting competition and slowing sales.

Anthropic’s China ban seen as low impact

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SCMP
Anthropic’s new ban on China-backed entities using its AI models is expected to have limited impact on the mainland’s AI development, analysts said. Despite tighter restrictions, users continue to access Anthropic’s Claude models through relay sites, while Chinese firms such as Z.ai and Moonshot AI are moving to capture displaced users.

Mixue takes majority stake in Fulujia

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Nikkei Asia
Mixue Group, which operates China’s largest beverage chain, will spend RMB 297 million to acquire a 53% stake in Fulujia, the operator of Fulu Fresh Beer bars. The deal marks Mixue’s entry into draft beer, widening its customer base beyond younger drinkers as it diversifies from fruit teas and coffee into new beverage categories.

Nigeria eyes China funding for “super grid”

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Bloomberg
Nigeria is in talks with the Export-Import Bank of China for a USD 2 billion loan to build a new “super grid” linking the country’s eastern and western regions. The cabinet-approved project aims to ease power shortages and attract industrial users back to the national grid as part of wider energy sector reforms.

China widens lead in clean tech exports

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Bloomberg
China has pulled ahead of the US in the global energy export race, shipping USD 120 billion in clean technologies through July compared with USD 80 billion in US oil and gas exports. Driven by demand for EVs, solar panels, and batteries, China’s record USD 20 billion in August exports underscores its growing dominance in clean energy trade.

Tesla hints at possible new model

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Tesla
Tesla shares rose after the company posted teaser videos on X showing a car's components and headlights, ending with “10/7.” The posts reignited speculation over whether CEO Elon Musk will unveil the next-generation Roadster or a lower-cost model aimed at broadening mass market appeal.

Sunrise wins national R&D funding

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Sunrise New Energy
Sunrise New Energy has received USD 600,000 from China’s National Special Fund for Science and Technology Development, marking the first national-level science project approved in Qianxinan prefecture in three years. The funds will support R&D on solid-state battery anode materials and help accelerate the industrialization of next-generation technologies.

Kuaishou launches FantaSay chat app

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SCMP
Kuaishou has launched FantaSay, a virtual companion app with adult chat features, through its Singapore-based unit Symphony Tech, marking its first international push in the category. The app has reportedly recorded about 500,000 downloads and follows Kuaishou’s domestic release of Kraft, as the firm expands AI-driven revenue beyond China.

FF confirms local FX Super One assembly

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Jiemian News
Faraday Future has finalized its localized production and assembly plan for the FX Super One in the US after multiple technical reviews. The company expects the first US-spec vehicle to roll off the line by year's end while continuing testing in the US and UAE, where the model will launch on October 28 and begin deliveries in November.

Chinese carmakers eye full production in South Africa

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Reuters
South Africa’s trade minister said Chinese and Indian automakers plan to upgrade their semi-knocked-down assembly lines to full-scale production. BAIC, which assembles the Beijing X55 in Gqeberha, will shift to complete manufacturing, signaling growing Chinese involvement in South Africa’s automotive sector.

WeRide expands autonomous ops in UAE

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WeRide
WeRide has launched pilot operations for autonomous vehicles in Ras Al Khaimah in partnership with the local transport authority, marking its first deployment in the emirate and third in the UAE. The pilot brings self-driving vehicles into the public transport network ahead of a planned commercial rollout in 2026.

China banks back Aramco gas project

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Reuters
China’s top banks are financing over a third of Aramco’s USD 11 billion Jafurah gas project, with Bank of China, ICBC, China Construction Bank, and Agricultural Bank of China lending more than USD 3.7 billion combined. Chinese funds, however, avoided equity participation, reflecting how US-China tensions are reshaping Gulf investments.

Xiaomi unveils bespoke EV program

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Xiaomi
Xiaomi has launched a customization service for its YU7 Max and SU7 Ultra EV models, offering 26 handcrafted options including premium paint finishes, curated interiors, and materials such as ash wood veneer and ceramic emblems. Production will be limited to 40 vehicles per month during the program’s first year.

Foxconn revenue rises on strong AI server demand

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Bloomberg
Hon Hai Precision Industry, or Foxconn, reported an 11% rise in quarterly revenue to TWD 2.06 trillion, driven by strong demand for Nvidia-powered AI servers. The company said server sales more than doubled and expects further growth this quarter, even as trade tensions and evolving US tariff policies add uncertainty.

Plaud launches in mainland China

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KrASIA
Plaud announced its China launch on September 22, unveiling new products including the Plaud Note, Note Pro, and NotePin S wearable recorder. The Shenzhen-based company is making its domestic debut after shipping more than one million units across 170 countries. It expects USD 250 million in 2025 revenue and plans to maintain global pricing as it expands at home.

Huawei’s AI chips found using foreign parts

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Bloomberg
Huawei’s Ascend 910C processor uses components from TSMC, Samsung, and SK Hynix, according to media reports. The company is said to have built the chip with stockpiled dies and HBMs obtained before US export bans, as it seeks to compete with Nvidia.
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