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Duxiang probes the limits of AI intimacy with the Xiangmeng Ring, its first wearable

11 mins read

Pulses

JD.com launches takeover bid for Ceconomy

just now
Jiemian News
JD.com has launched a EUR 2.2 billion cash offer to acquire Germany-based Ceconomy, the parent company of MediaMarkt and Saturn. The deal would give JD.com access to more than 1,000 stores across 12 European countries and a localized supply network. The offer remains subject to regulatory approvals through November 2026.

Chinese firms lean on used Nvidia GPUs

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Tom's Hardware
Chinese firms are reportedly turning to refurbished Nvidia A100 and H100 GPUs after regulators blocked the H20, a chip tailored to meet US export rules. Originally built for training, the older cards are now being retooled for inference tasks amid rising demand and tightening supply.

Airwallex acquires billing firm OpenPay

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Airwallex
Airwallex has acquired billing platform OpenPay, adding subscription management, payment orchestration, and revenue analytics to its suite. Announced on September 3, the deal will provide Airwallex customers with multicurrency billing and usage-based subscription tools from Q4 2025, positioning the firm to compete with Stripe Billing and Recurly.

AnyMind expands with Nadesiko takeover

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AnyMind Group
AnyMind Group has announced the acquisition of Japan-based creator studio Nadesiko to expand its capabilities in social commerce. Tokyo-based Nadesiko, known for short-form beauty content on platforms like TikTok, will strengthen AnyMind’s integration of social marketing with e-commerce and digital transformation.

Anthropic lands USD 13 billion in Series F funding

just now
WSJ
Anthropic has raised USD 13 billion in a Series F funding round at a USD 183 billion valuation, nearly tripling its worth since March. The financing was co-led by Iconiq, Fidelity Investments, and Lightspeed Venture Partners, with participation from the Qatar Investment Authority and other major investors. The company said the funds will support enterprise demand, safety research, and international expansion.

OpenAI to buy Statsig for USD 1.1 billion

just now
Bloomberg
OpenAI has agreed to acquire product testing startup Statsig for USD 1.1 billion in stock, pending regulatory approval. Founded in 2021, Statsig develops feature testing tools used by firms including Eventbrite and SoundCloud. CEO Vijaye Raji will join OpenAI as CTO of applications, reporting to division head Fidji Simo.

Zuzu raises Series B extension funding

just now
Wavemaker Partners
Zuzu Hospitality has raised USD 5.9 million in a Series B extension round led by Wavemaker Growth, with Velocity Ventures, Vulpes Ventures, and Latin Leap also participating. The Singapore-based firm will use the funds to scale its AI-driven revenue management platform, designed to help independent hotels compete with global chains.

Ant Group invests in chipmaker InnoStar

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SCMP
An Ant Group subsidiary acquired a 1.87% stake in Shanghai-based InnoStar Semiconductor, a developer of ReRAM memory chips, registry filings from late August showed. The deal underscores Chinese tech giants’ push to support domestic chipmakers and reduce reliance on imports amid US trade uncertainty.

Musk shifts Tesla’s focus to robots

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Bloomberg
Elon Musk said Tesla will eventually derive about 80% of its value from its humanoid robot project Optimus, signaling a future shift in focus away from cars. The projection followed Tesla’s latest “master plan,” its first to mention robots, though details remain limited. The comment comes as Tesla’s global deliveries fell 13% in the first half of 2025.

Meituan debuts open-source AI model

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SCMP
Meituan launched its first open-source large language model, LongCat-Flash-Chat, on September 2 via Hugging Face, GitHub, and its website. The model, comprising 560 billion parameters, uses a mixture-of-experts (MoE) architecture and reportedly benchmarks on par with Alibaba’s Qwen, Anthropic’s Claude, and Google’s Gemini.

Unitree to file IPO papers by year’s end

just now
Reuters
Unitree Robotics said on September 2 it expects to submit listing application documents between October and December. The company, known for its quadruped and humanoid robots, disclosed in July that it had started preparing for a potential IPO.

Mihoyo, Tencent case stirs speculation

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The Paper
A Shenzhen court will hear a civil case on September 5 involving Mihoyo and Tencent, prompting speculation about disputes tied to Genshin Impact and Honor of Kings. Tencent said the matter concerns Mihoyo's request for QQ user data in another matter, while Mihoyo has not publicly commented.

Singapore, Shenzhen eye gateway role

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CNA
Singapore and Shenzhen could serve as gateways linking Southeast Asia and China’s Greater Bay Area, deputy prime minister Gan Kim Yong said on September 2. Both sides pledged to deepen cooperation in AI, digital and green economies, healthcare, and tourism, building on their joint smart city initiative.

Quicktron files for Hong Kong IPO

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Bloomberg
Quicktron Robotics has confidentially filed for a Hong Kong IPO that could raise at least USD 100 million as early as next year, according to sources. The Chinese firm, which makes autonomous warehouse robots, serves clients including Huawei and Maersk and is backed by Cainiao and a Saudi Aramco-linked fund.

US curbs, weak demand hit Chinese firms

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Nikkei Asia
Chinese companies lost global market share in 15 of 71 product categories in 2024, up from 13 in 2023, as US sanctions and sluggish domestic demand weighed on segments such as surveillance, cloud services, and home appliances. Gains in EVs and budget smartphones helped offset broader declines.

Hong Kong to open to mainland cars

just now
Nikkei Asia
Starting in November, Hong Kong will allow up to 100 private vehicles from Guangdong to enter daily via a designated bridge. Drivers must secure a local license, insurance, and vehicle inspection. The policy aims to boost local retail by attracting mainland shoppers and curbing outbound consumer traffic from Hong Kong.

Top Toy opens first Japan store

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36Kr
Top Toy opened its first store in Japan on August 30 at Tokyo’s Sunshine City, recording over JPY 11 million in sales on day one. The move follows an investment led by Temasek, valuing the company at HKD 10 billion.

Mihoyo debuts new Honkai title

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36Kr
Mihoyo unveiled its latest game, Honkai: Nexus Anima, on August 29 with a debut trailer and gameplay demo. The title blends pet collection and auto-battling in a casual strategy format. Led by Honkai: Star Rail producer David Jiang, it also features town exploration, mount riding, and avatar customization. Closed beta signups are now open.

GoodMe doubles profit after IPO

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36Kr
GoodMe reported RMB 5.66 billion in revenue and RMB 1.63 billion in net profit for H1 2025, up 41.2% and 119.8% YoY. Adjusted profit rose 42.4% to RMB 1.09 billion. The store count hit 11,179, with over 80% of new outlets in lower-tier cities. Daily GMV per store climbed to RMB 7,600, signaling greater efficiency.

Tea tops water in Nongfu Spring sales

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36Kr
Nongfu Spring reported RMB 25.6 billion in revenue and RMB 7.6 billion in net profit for H1 2025, up 15.6% and 22% YoY. Tea drinks, led by its flagship "Oriental Leaf Tea" beverage, became the company’s largest revenue source at RMB 10.1 billion, surpassing bottled water for the first time.
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