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With fresh funding, JQ Industries bets on fiber sensors to give machines a sense of touch

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Pulses

China’s top drugmaker jumps on HK listing

just now
Fortune
Shares of China’s largest drugmaker, Hengrui Pharmaceuticals, opened 29% higher in its Hong Kong debut after raising HKD 9.9 billion, making it one of the year’s largest listings. The proceeds will support its global R&D in oncology, cardiometabolic, and neurological drugs, as the firm seeks its first overseas approvals. The IPO adds momentum to Hong Kong’s rebounding capital markets.

Stablecoin issuers face new rules in Hong Kong

just now
CNBC
Hong Kong has passed a law requiring fiat-backed stablecoin issuers to obtain licenses and meet reserve and asset segregation rules, expanding its crypto regime beyond existing virtual asset regulations. Set to take effect this year, the policy aligns Hong Kong with global efforts to legitimize stablecoins and promote secure, regulated digital finance.

Kind Kones extends Series A for SEA, Dubai growth

just now
Epic Angels
Singapore's Kind Kones has raised more funds in a Series A extension round backed by Epic Angels and other F&B-focused investors. The company, which makes dairy-free frozen desserts, plans to scale across Southeast Asia and Dubai through a mix of franchised and owned outlets.

Tesla still ahead in AI, says DeepRoute.ai CEO

just now
Bloomberg
DeepRoute.ai CEO Maxwell Zhou said Tesla remains ahead in autonomous driving AI, though “Chinese companies are catching up real quick.” He attributed the US lead to a deeper AI talent pool, while highlighting China’s manufacturing strength. Zhou said DeepRoute.ai is exploring OEM partnerships as part of its expansion but did not name specific firms or regions.

Amap adds ride-hailing in English

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36Kr
Amap has launched full ride-hailing services in its English-language app, enabling international users in more than half of China’s cities to book rides, view fares, and navigate pickup points in English. The rollout aims to boost the app’s appeal among foreign travelers and residents.

Cainiao expands last-mile delivery in Iberia

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Securities Times
Alibaba-backed Cainiao has expanded its logistics network in Spain and Portugal, adding parcel collection in Lisbon and five Spanish cities. Its Iberian operations now span 11 cities, with 61 last-mile stations reaching 88% of Spain’s population. Next-day delivery is available in 36 cities, as Cainiao deepens local service for e-commerce sellers.

L’Oreal invests in China’s Veminsyn for R&D

just now
The Economic Observer
L’Oreal has taken a minority stake in Chinese biotech firm Veminsyn to co-develop sustainable bioactive ingredients for cosmetics. Backed by L'Oreal's BOLD fund and China’s Meicifang Investment, the partnership will harness Veminsyn’s molecular design and biomanufacturing capabilities to advance sustainable and open innovation.

MiRXES gains 24.5% after HK IPO launch

just now
KrASIA
Singapore-based cancer diagnostics firm MiRXES has listed on the Hong Kong Stock Exchange, with shares jumping 24.5% above the HKD 23.3 offer price on debut. The stock was trading at HKD 30 as of 3:00 p.m. local time. The company plans to use most of the IPO proceeds to fund R&D and commercialize its early cancer detection solutions.

New coating tech boosts PV quality and yield

just now
CCTV
Chinese researchers led by Microquanta Semiconductor have developed a 3D laminar flow coating technique that enables stable, high-yield production of perovskite solar panels at near-square-meter scale. The method improves crystallization, reduces defects, and enhances durability. A 500 kW pilot station using the tech reportedly outperformed silicon modules by over 30% in output under hot weather conditions.

Sany Heavy Industry applies for HK IPO

just now
HKEX
Sany Heavy Industry has submitted a listing application to the Hong Kong Stock Exchange, naming CLSA as overall coordinator. No securities are currently being offered and that regulatory approval is pending. Final terms, including offer size and timetable, will be disclosed in a prospectus if the application proceeds.

Apple targets 2026 launch for smart glasses

just now
Bloomberg
Apple plans to launch smart glasses by late 2026, featuring cameras, microphones, and Siri integration, as it steps up its AI hardware push. The company has shelved plans for a camera-equipped smartwatch and is accelerating chip production for the glasses. The move comes as Apple races to catch up with Meta and others in the wearables market.

US bonded warehouse rents quadruple on tariff fears

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Reuters
Bonded warehouse rents have quadrupled in 2025 as US firms rush to store Chinese goods and defer Trump-era tariffs. The country has over 1,700 bonded sites, now strained by record demand. Certification delays exceed six months, and conversion costs vary widely from four- to six-figure USD sums, highlighting the growing financial and logistical stakes of trade uncertainty.

Stargate UAE kicks off OpenAI’s global AI plan

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OpenAI
OpenAI has launched Stargate UAE, an AI campus in Abu Dhabi and the first international deployment of its Stargate platform. Backed by G42, Oracle, Nvidia, Cisco, and SoftBank, the site will include 200 MW of compute in 2026. The project marks the launch of OpenAI’s global initiative to help governments build sovereign AI in coordination with the US.

Beijing urges Netherlands to loosen chip rules

just now
Bloomberg
China has asked the Netherlands to ease semiconductor export restrictions, Dutch foreign minister Caspar Veldkamp said after talks in Beijing. The Netherlands, home to chip tool giant ASML, reaffirmed its stance on national security and independent licensing. Both sides agreed to keep semiconductor trade on the agenda amid broader cooperation talks.

Xiaomi positions XringO1 as Apple A18 rival

just now
SCMP
On May 22, Xiaomi unveiled the Xring O1, a ten-core SoC with 19 billion transistors built on a three-nanometre process. Powering the new 15S Pro and Pad 7 Ultra, the chip reportedly matches Apple’s A18 Pro in performance and surpasses it in select benchmarks. The Xring O1 marks a milestone in Xiaomi’s R&D, backed by RMB 13.5 billion over four years.

China pushes EV collaboration at UAE congress

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Xinhua
At the WNEVC UAE session, Chinese officials called for deeper global collaboration in EVs and urged firms to tailor offerings to local markets. They highlighted a 30% rise in Hainan-UAE trade in 2024, driven by a new Yangpu-Abu Dhabi shipping route. China’s leadership in green growth was underscored by its dominant share of the 585 GW in new global renewable capacity.

Shein warns EU fees, French bill will raise prices

just now
Reuters
Shein warned that French shoppers could face price hikes of up to EUR 12 per order by 2030 if the EU enacts a EUR 2 handling fee on direct e-commerce shipments and France enacts a bill penalizing fast fashion. A Shein spokesperson criticized the proposals, which target low-cost platforms like Shein and Temu, and called for dialogue with public officials.

China’s EU investment rebounds in 2024

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36Kr Chuhai
Chinese direct investment in Europe rose 47% to EUR 10 billion in 2024, ending a seven-year decline, according to MERICS and Rhodium Group. Greenfield projects drove the rebound, led by EV and battery investments in Hungary. CATL, Tencent, and BYD accounted for a large share. Hungary drew 31% of Chinese FDI, outpacing Germany, France, and the UK combined.

Quant fund Goku pitches AI training breakthrough

just now
SCMP
Chinese quant fund Goku Technologies has submitted a paper to NeurIPS detailing SASR, a new AI training framework it says outperforms mainstream methods like supervised fine-tuning and reinforcement learning. Co-developed with Shanghai Jiao Tong University and new AI unit AllMind, the work mirrors DeepSeek’s model and underscores China’s AI progress despite US tech curbs.

Xpeng enters Baltic EV market via Modus Group

just now
Xpeng
Xpeng has named Modus Group its exclusive partner for Estonia, Latvia, and Lithuania, marking its entry into the Baltic market. Sales will begin in Q3 2025 with the G6 and G9 SUVs. The move expands Xpeng's European footprint as it targets presence in over 60 countries by year-end, supported by local showrooms and after-sales networks.
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