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For Chinese firms, the UAE’s business-friendly image comes with caveats

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Manus maker reports USD 90 million run rate

just now
Bloomberg
Butterfly Effect, the company behind agentic platform Manus, said it has reached an annual revenue run rate of USD 90 million, its first disclosure of business scale. Most of the revenue comes from Manus subscriptions, following a USD 75 million funding round earlier this year.

China’s Yimutian lists on Nasdaq

just now
36Kr
Yimutian, China’s largest agricultural B2B platform by revenue and active merchants, listed on Nasdaq on August 19 under the ticker YMT. The IPO raised about USD 22 million, which will fund expansion of its Wolaicai brokerage service and support global growth.

Meituan’s Keeta launches in Qatar

just now
Sina
Meituan’s food delivery brand Keeta has launched in Doha, Qatar, its second Middle East market after Saudi Arabia. Meituan said Keeta will support local restaurants, couriers, and digital growth as it expands across the GCC region, with a Brazil launch planned in the coming months.

Tencent studio hits 100 million overseas users

just now
SCMP
Tencent’s TiMi Studio Group has reached 100 million monthly active users overseas, its first disclosure of international player numbers. The developer plans to launch Honor of Kings: World on multiple platforms, targeting Europe, North America, Japan, and South Korea, as Tencent expands abroad amid slowing growth in China.

ByteDance rejects Doubao phone rumor

just now
Jiemian News
ByteDance denied reports that it is developing a Doubao-branded smartphone with ZTE, stating it has no plans to launch its own device. The company said Doubao will focus on integrating AI into partner hardware rather than building in-house phones.

Smart glasses sales soar in China

just now
Securities Daily
China’s smart glasses market grew 148% YoY in H1 2025 to 468,000 units, according to Runto Technology. Driven by rising consumer demand and new product rollouts, brands like Xiaomi and Rokid are expanding rapidly. Suppliers including Biwin and Lens Technology reported strong orders. Annual sales may reach 1.4 million units.

Ping An profit surges in H1

just now
Ping An
Ping An Good Doctor posted H1 2025 revenue of RMB 2.5 billion, up 19.5% YoY, with net profit rising 136.8% to RMB 134 million. Paying users grew 35.1% as the company expanded corporate health services and launched new AI-powered medical tools. Family doctor membership exceeded 35 million users.

Nvidia plans new China-focused AI chip

just now
CNBC
Nvidia is reportedly developing a China-focused AI chip, the B30A, based on its Blackwell architecture and more powerful than the H20. Samples could ship as early as September. The company said it evaluates products in line with government rules. The move follows Trump’s remark that he would consider permitting a scaled-down Blackwell variant for the Chinese market.

DeepSeek previews upgraded V3.1 model

just now
Bloomberg
DeepSeek has released an enhanced V3.1 AI model for testing, featuring a longer context window to support larger inputs and longer conversations. Documentation has not yet been published, and the company’s delayed R2 model remains unreleased.

WuXi Biologics lifts outlook after profit jump

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WuXi Biologics
WuXi Biologics posted H1 2025 revenue of RMB 9.95 billion, up 16.1% YoY, with IFRS net profit rising 54.8%. EBITDA grew 50.5% and gross margin reached 42.7%. The company added a record 86 new integrated projects and raised its FY25 revenue growth target to 14–16%, citing demand for complex biologics and late-stage manufacturing.

Huawei lifts veil on 5G chip in Pura 80

just now
SCMP
Huawei confirmed that its Pura 80 smartphones use the Kirin 9020 chip, marking its first public processor disclosure since US tech sanctions began. Designed by HiSilicon and manufactured by SMIC using a seven-nanometer process, the chip was previously identified only through teardown analyses.

U Power to deploy electric trucks in Thailand

just now
U Power
U Power has partnered with SAIC Hongyan and Unex EV to deploy 4,200 electric heavy trucks in Thailand, including 3,000 for long-haul transport and 1,200 for port logistics. The trucks will feature battery swapping technology. U Power will lead infrastructure development, with further expansion planned across Southeast Asia, Latin America, and Europe.

Alibaba, Ant unite to challenge Meituan

just now
SCMP
Alibaba and Ant Group have reportedly unified 22 business units, including Taobao, Alipay, and Ele.me, to improve delivery rider welfare and take on Meituan in the quick commerce market. Under a new "City Riders" system, workers will get upgraded uniforms, broader insurance, and expanded social support for healthcare, education, and retirement.

Pop Mart profits nearly quintuple in H1

just now
Reuters
Pop Mart reported H1 2025 revenue of RMB 13.9 billion, up 204.4% YoY, with net profit surging 396.5% on strong global demand for its Labubu collectibles and expansion into higher-margin overseas markets. Five IP lines each generated over RMB 1 billion, as the company grew to 571 stores and 2,597 vending machines across 18 markets.

Xpeng advances robot, robotaxi plans

just now
Xpeng
Xpeng said it is advancing its robotics and mobility strategy with humanoid robots in development and preparations underway for robotaxi deployment, both powered by its proprietary AI stack. The company aims to unify autonomous driving and robotics under a shared system for personal and commercial use.

Xpeng narrows losses on record sales

just now
Xpeng
Xpeng reported Q2 2025 revenue of RMB 18.27 billion, up 125.3% YoY, as deliveries rose 242% to 103,181 vehicles. Net loss narrowed to RMB 0.48 billion, while gross margin climbed to 17.3% and vehicle margin hit a record 14.3%. The EV maker also launched the G7 SUV and expanded its tech partnership with Volkswagen.

Smart EV growth lifts Xiaomi earnings

just now
Xiaomi
Xiaomi posted record Q2 2025 results, with revenue up 30.5% YoY to RMB 116 billion and adjusted net profit rising 75.4% to RMB 10.8 billion. Smart EV revenue more than tripled to RMB 21.3 billion on a 198% jump in deliveries. IoT and lifestyle revenue rose 45% YoY, while smartphone shipments saw modest growth.

Altman doubts US chip curbs on China

just now
CNBC
OpenAI CEO Sam Altman warned that US export controls might not effectively counter China’s AI progress, which includes faster inference buildout and a surge in open-source models. That momentum, he said was a key factor in OpenAI’s decision to release open-weight models for local developer use.

Yuequan Bionics debuts Y-Hand M1

just now
36Kr
Yuequan Bionics has unveiled the Y-Hand M1, a bionic hand with 38 degrees of freedom, reportedly more than any other currently on record. Powered by an artificial muscle system and flexible joint design, it can deliver rapid, precise movement and humanlike dexterity, with reported gains in grip force, accuracy, and motion range over rigid models.

Shein considers redomicile to China

just now
Bloomberg
Shein is considering moving its legal base from Singapore to China to help secure regulatory approval for a Hong Kong IPO, according to people familiar with the matter. The fast fashion giant has faced listing setbacks in New York and London, and reportedly believes a China domicile could help win over Beijing authorities.
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