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AI-driven drugmakers fuel wave of cross-border deals in China

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Weibo suspends influencers over false posts

just now
Jiemian News
Weibo said it has suspended several automotive-focused influencers for spreading false or defamatory posts about companies, imposing 90-day bans and restricting ad revenue for six months. The action is part of a campaign by the Cyberspace Administration of China to curb online smear campaigns and protect business reputations.

Haier weighs Hong Kong IPO for Cosmoplat

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Bloomberg
Haier is reportedly weighing a Hong Kong IPO for its IoT unit, Cosmoplat, that could raise about USD 500 million, according to people familiar with the matter. The company is working with CICC and HSBC on the potential listing, which could take place in 2026.

CATL earnings rise as Europe push advances

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Bloomberg
CATL reported a 41% jump in Q3 profit to RMB 18.5 billion, in line with analyst estimates. The Chinese battery maker maintained a 36.8% share of global EV battery capacity, according to SNE Research. The company is expanding in Europe with new production in Hungary amid slowing EV demand and rising geopolitical risks.

Qiandao faces backlash over refund dispute

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Jiemian News
Qiandao, a collectibles platform, has denied involvement in a viral refund dispute in which a seller demanded a video of a parent slapping a child to approve a refund. The company said the messages came from a private transaction unrelated to its services and pledged to strengthen consumer safeguards and moderation.

BYD adds long-range edition to Bao 5 lineup

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CarNewsChina.com
BYD’s Fangchengbao brand has launched a long-range edition of its Bao 5 SUV, introducing four models with an electric range of 210 kilometers and prices between RMB 269,800–329,800. The new lineup features the DMO+ platform, Huawei's Qiankun ADS 4 driver assistance system, and BYD’s DiSus-P suspension for enhanced comfort and control.

China doubles AI adoption in six months

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SCMP
China’s generative AI user base more than doubled to 515 million in H1 2025, reaching an adoption rate of 36.5%, according to a report by the China Internet Network Information Center (CNNIC). More than 90% of respondents said they favored models developed by domestic firms including DeepSeek, Alibaba, and ByteDance.

Nexperia disputes claims of China split

just now
Bloomberg
Nexperia has alleged that ousted CEO Zhang Xuezheng spread “falsehoods” claiming its China unit now operates independently, after a Dutch court suspended him and the Dutch government seized control of the company. The firm called the claims “factually incorrect,” further straining relations between China and the Netherlands over chip industry control.

Alibaba cuts GPU use with Aegaeon system

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SCMP
Alibaba said its new computing pooling system, Aegaeon, reduced the number of Nvidia H20 GPUs needed to serve AI models by 82%, from 1,192 to 213, during tests on its Model Studio platform. The system reportedly enables a single GPU to support up to seven models and lowers latency by 97%.

Yunji lists in Hong Kong with strong debut

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Yunji Technology
Beijing-based Yunji Technology listed on October 18 on the Hong Kong Stock Exchange at an offer price of HKD 95.6. The stock surged on debut and extended its rally, closing at HKD 127.2 as of October 21. The robotics firm plans to expand globally and strengthen its supply chain through a partnership with Luxshare Precision.

KKR, Quadrantis invest in Peak Reinsurance

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KKR
Funds managed by KKR and Quadrantis Capital will acquire minority stakes of about 11.27% and 1.80% in Peak Reinsurance, while Fosun International will retain its 86.71% holding. Prudential Financial has exited its 13.07% stake. The transaction, pending regulatory approval, is expected to close in Q4 2025.

Cambricon swings to profit on AI demand

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Bloomberg
Cambricon Technologies reported a 14-fold revenue surge to RMB 1.73 billion in the September quarter, swinging to a net profit of RMB 567 million from a loss a year earlier. The turnaround highlights how Chinese chipmakers are gaining from Beijing’s push to replace restricted Nvidia processors amid an expansion in domestic AI development.

Doubao usage surges past 30 trillion tokens

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SCMP
ByteDance’s Doubao large language models processed more than 30 trillion tokens daily in September, more than double the 12.7 trillion recorded in March, Volcano Engine president Tan Dai said. Research firm IDC reported that Volcano Engine led China’s cloud market for token processing in H1 2025 with a 49.2% share, ahead of Alibaba Cloud and Baidu Cloud.

Pony.ai, Stellantis to test robotaxis in EU

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CNBC
Pony.ai has partnered with Stellantis to test autonomous taxis in Luxembourg, its European hub, ahead of a planned regional expansion in 2026. Pony.ai will supply the self-driving software, while Stellantis will provide the EVs, starting with the Peugeot e-Traveller. The trials aim to build a safety record as robotaxi firms enter Europe’s regulatory landscape.

Shanghai unveils new FTZ reform plan

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Dao Insights
Shanghai has unveiled its second plan for FTZ-linked innovation zones on October 15, expanding free trade coverage across 13 new districts and zones. The reforms aim to attract global investment by easing RMB lending, allowing full foreign ownership in private hospitals, extending visa terms for skilled professionals, and streamlining cross-border data transfers.

BYD issues biggest recall to date

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Reuters
BYD will recall more than 115,000 Tang and Yuan Pro vehicles produced between 2015–2022 over design and battery safety defects, China’s market regulator said. The automaker’s largest recall to date follows earlier actions involving the Bao 5, Dolphin, and Yuan Plus models amid heightened scrutiny of EV manufacturing quality.

Nexperia staff uneasy amid Dutch takeover

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SCMP
Workers at Nexperia’s Dongguan plant are anxious amid a political standoff between the Dutch government and Chinese owner Wingtech. The Netherlands’ seizure of the semiconductor maker and removal of its Chinese CEO prompted Beijing to impose export curbs on Nexperia’s mainland operations, deepening uncertainty at the key production site.

Meituan expands to Brazil with Keeta

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Dao Insights
Meituan will enter Brazil on October 30 under its international brand Keeta, marking its first expansion into the Americas. The Chinese delivery giant reportedly plans to invest about USD 1 billion over five years, starting in the coastal cities of Santos and Sao Vicente as pilot markets to challenge local leader iFood.

Nio faces lawsuit from Singapore’s GIC

just now
Bloomberg
Singapore’s sovereign wealth fund GIC has sued Chinese EV maker Nio in New York, accusing the company of inflating revenue through its battery subscription business. The rare lawsuit has heightened scrutiny of Nio’s accounting and governance as it battles intense competition and financial headwinds in China’s EV market.

Cambricon, SenseTime form AI alliance

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SCMP
Cambricon and SenseTime have partnered to advance China’s AI self-reliance under the national “AI Plus” initiative. The alliance merges Cambricon’s chip design capabilities with SenseTime’s foundational models to develop integrated AI computing solutions and industry-focused enterprise services.

Anthropic projects sharp 2026 growth

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Reuters
Anthropic expects its annualized revenue run rate to climb from USD 9 billion in 2025 to more than USD 20 billion in 2026, driven by rising enterprise adoption of its Claude AI tools. The company, now approaching USD 7 billion in revenue, was recently valued at USD 183 billion after a USD 13 billion funding round.
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Events

GITEX Global 2025 wraps in Dubai with strong turnout and new editions on the horizon

The 45th edition of GITEX Global and its sister event, Expand North Star, drew tens of thousands of participants to Dubai.

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