FB Pixel no scriptKrASIA | Decoding China's tech and business pulse
MENU
KrASIA

News

As rivals pile on, Meituan braces for a brutal fight in delivery and commerce

7 mins read

Pulses

Huawei’s Pangu tops benchmarks with new method

just now
SCMP
Huawei said its Pangu AI model outperformed peers like Alibaba’s Qwen 2.5 using a new mixture-of-grouped-experts (MoGE) method that improves efficiency and balances workloads on its Ascend chips. Researchers reported top scores on Chinese benchmarks and strong performance in long-context tasks.

Pop Mart’s toys spark craze in UAE

just now
Dao Insights
Pop Mart’s Labubu toys have sparked long lines and sold-out shelves in Dubai, Abu Dhabi, and Sharjah following the launch of its “Big Into Energy” series. The craze has spread across the UAE and into Saudi Arabia, as fans queue for rare models amid a wider regional toy frenzy.

Amber secures funding for global rollout

just now
Amber
Amber Electric has secured USD 45 million in funding to expand its battery and EV automation technology globally. The round was led by ETF Partners, with participation from existing backers. The firm reportedly powers 40% of Australia’s new automated home batteries and is scaling into Europe through utility partnerships, ahead of anticipated demand from Australia’s 2025 battery rebate.

Nebius unveils convertible offering

just now
Nebius
Nebius Group will raise USD 1 billion through convertible notes due in 2029 and 2031 to support AI infrastructure expansion. The proceeds will fund computing power and data center growth. The notes, set to be issued on June 5, carry semi-annual interest and include conversion options under defined conditions.

Top Toy gears up for Hong Kong IPO

just now
Bloomberg
Miniso has hired JPMorgan and UBS to prepare a Hong Kong IPO for its collectible toy brand Top Toy, sources said. The company is also seeking investment from sovereign funds ahead of the listing. Top Toy operates 280 stores and is expanding overseas, following rival Pop Mart’s surge.

Ant unveils AI platform for fintech firms

just now
Ant International
Ant International has launched an "AI-as-a-service" platform under Alipay+ to help fintech firms build AI-native services. The solution supports workflows such as fraud detection, onboarding, and dispute resolution, with client deployments beginning June 2025 in South and Southeast Asia.

Manus launches text-to-video tool

just now
Bloomberg
Chinese AI startup Manus has launched a text-to-video feature that turns prompts into sequenced videos, rivaling tools from OpenAI, Alibaba, Tencent, and others. Early access is available to paying users ahead of a broader rollout.

AliExpress opens to local Polish sellers

just now
Sina
AliExpress has opened its platform to Polish sellers as it expands local operations in Europe. One in three Polish e-commerce users now regularly shops on the site, per Mediapanel, with Euromonitor ranking it alongside Allegro as a top platform. The move includes seller incentives and warehouse partnerships to boost growth.

Nvidia reclaims top market cap ranking

just now
CNBC
Nvidia overtook Microsoft on June 3 to become the world’s most valuable listed company, closing with a USD 3.45 trillion market cap. Shares rose 3% as strong demand for its AI chips fueled 69% YoY revenue growth last quarter.

Ma Dong-seok returns as AliExpress rep

just now
Caijing
AliExpress has renewed its partnership with actor Ma Dong-seok as brand ambassador for a third year in South Korea. In 2024, the platform captured 85% of Chinese cross-border e-commerce spending and ranked second in monthly active users, briefly surpassing Coupang in key engagement metrics, according to WiseApp.

TikTok Shop sees slow start in Germany

just now
Ebrun
34% of Germans surveyed are aware of TikTok Shop, but only about 4% have made a purchase since its March 31 launch, according to a study by OMD. Awareness is highest among those aged 18–29 at 47%, indicating strong early reach despite limited adoption.

Xiaomi taps FAW veteran for driving team

just now
KrASIA
Xiaomi has appointed Chen Guang, former CTO of FAW’s Nanjing research institute, to lead perception development for its assisted driving unit, replacing Rui Cai. The hire boosts Xiaomi’s efforts to advance end-to-end and VLA models amid safety scrutiny and intensifying competition.

Global automakers warn of rare earth crunch

just now
Reuters
Alarm is growing over China’s decision to restrict exports of rare earth magnets and alloys, as global automakers warn of looming production delays. The curbs, seen as trade leverage, affect critical components for cars, aerial vehicles, and military equipment. Shipments are stalled at ports as nations seek talks with Beijing for a breakthrough.

Nvidia CEO touts chip in Nintendo Switch 2

just now
CNBC
Nvidia CEO Jensen Huang praised Nintendo’s upcoming Switch 2, calling its custom chip “unlike anything we’ve built before,” with breakthroughs in mobile ray tracing, HDR, and AI-driven gameplay. Priced at USD 449.99, the console launches June 5 as Nintendo’s first in eight years and supports backward compatibility.

Tiger Brokers to double HK headcount

just now
Reuters
Tiger Brokers plans to double its workforce in Hong Kong over the next two to three years to capture growing demand from offshore Chinese investors. The firm’s assets under custody in Hong Kong quadrupled YoY in Q1 2025, fueled by rising capital inflows, IPO activity, and interest from individual and corporate clients.

Nio forecasts rebound after soft Q1

just now
Nio
Nio reported Q1 2025 revenue of RMB 12 billion, up 21.5% YoY, as deliveries rose 40% from a year earlier but fell from Q4 levels. Vehicle margin improved to 10.2%, though net loss widened 30.2% YoY to RMB 6.75 billion. The Chinese EV maker expects Q2 deliveries of 72,000–75,000 units, driven by new models including the ET9 and Firefly.

Huawei to unveil Pura 80 on June 11

just now
SCMP
Huawei will launch its Pura 80 smartphone series in China on June 11, with expected camera upgrades and a possible new in-house chip. The devices will run HarmonyOS Next, Huawei’s latest Android-free platform. The release signals the company’s push to reclaim share in China’s premium smartphone market amid ongoing US tech restrictions.

Xiaomi sees EV unit turning profit soon

just now
Bloomberg
Xiaomi founder Lei Jun expects the company’s EV business to turn profitable in the second half of 2025, driven by strong SU7 sedan sales and narrowing losses. The outlook comes as China's EV price war heats up, with BYD announcing cuts and state media warning of risks to supply chains and China’s manufacturing image. Xiaomi plans to launch its first SUV in July.

China’s property slump nears its end

just now
The Economist
China’s housing slump is easing in top cities like Shanghai, where inventory turnaround saw levels fall from 20 to 12.5 months over the six months ending January 2025. S&P forecasts prices of new homes will remain flat this year and rise 1% in 2026 in first-tier cities, while prices in smaller cities may continue to decline. Recovery remains uneven and depends on sustained government support.

Naixue opens in Chiang Mai mall

just now
Dao Insights
Chinese tea chain Naixue has opened its first store in Chiang Mai, inside Central Festival mall, marking its eighth location in Southeast Asia. Featuring staples and new drinks tailored to Thai tastes, the outlet recorded nearly THB 3.5 million in first-month revenue, with daily sales topping 2,000 cups. A New York store is now in the pipeline as it eyes the US market.
See All

Icon for Editor’s PicksEditor’s Picks

Insights

Indonesia seeks to stitch competing interests to boost textile sector

The prospect of US tariffs has added to the industry’s deep-rooted challenges.

6 mins read
  • Insights

    Beneath the bureaucracy: How state capital made (and remade) China’s venture ecosystem

    30 mins read

Venture RoundupVenture Roundup

  • News

    Deals in brief: Temasek’s Xora invests in GridCare, Airwallex raises Series F funding, Antler backs three early-stage SEA startups, and more

    7 mins read
    • See All

    Automaker InsightsAutomaker Insights

    • See All

    Retail and CommerceRetail and Commerce

    • See All

    Icon for Casual ChroniclesCasual Chronicles

    Our EventsOur Events

    • See All