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Pop Mart shares fall on concerns over limited IP diversification

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Manus co-founders barred from leaving China

just now
Financial Times
China has restricted two Manus co-founders from leaving the country as regulators review Meta's USD 2 billion acquisition for potential foreign investment violations. The executives were questioned by authorities, with no formal investigation or charges announced.

China chip share to hit 42% by 2028

just now
SCMP
China's share of global wafer fabrication capacity for mainstream chips is expected to reach 42% by 2028, up from 32% in 2025, according to SEMI China. Industry executives cited rising demand from agentic AI and advances in chip packaging as key growth drivers.

E-Power advances Vietnam expansion

just now
E-Power
E-Power, formerly Sunrise New Energy, said it reached a preliminary agreement with ATSC Solartech to establish localized production in Vietnam for battery anodes and microgrid solutions, targeting AI data center and energy storage demand. The plan includes meeting US export requirements and launching initial capacity this year.

China Mobile expands Hong Kong data push

just now
SCMP
China Mobile has invested nearly HKD 10 billion in Hong Kong and opened a new data center, bringing its total capacity in the city to over 13,000 server racks. It plans to expand submarine cables and integrate Hong Kong into China’s national computing network.

SpaceX prepares landmark IPO filing

just now
The Information
SpaceX is reportedly aiming to file its IPO prospectus as soon as this week or next, with advisers expecting a raise of more than USD 75 billion. The Elon Musk-led company has not confirmed the plans.

OpenAI to shut down Sora

just now
WSJ
OpenAI will shut down its Sora platform, discontinue developer tools, and remove video features from ChatGPT, CEO Sam Altman told staff. The company is reallocating compute and talent to productivity and coding tools as it streamlines its product lineup ahead of a potential IPO.

Pop Mart sets 2026 growth goal

just now
Wallstreet CN
Pop Mart reported 2025 revenue of RMB 37.1 billion, up 185% YoY, and net profit of RMB 12.8 billion, up 309%. It set a 2026 growth target of at least 20%, while outlining theme park expansion plans and a FIFA World Cup partnership featuring its Labubu IP.

ByteDance files Seedance trademarks

just now
Jiemian News
A ByteDance subsidiary has applied for multiple “Seedance” trademarks across categories including food, medical horticulture, and chemicals, with all applications pending review. The filings align with Seedance 2.0, its AI video generation model that creates clips from text or images, now in limited testing on the Dreamina platform.

Alibaba, Tencent ramp up AI spending

just now
Nikkei Asia
Alibaba, Tencent, ByteDance, and Baidu are projected to invest a combined USD 84 billion in AI infrastructure in 2027, up 60% from 2025, according to Goldman Sachs. Data centers and AI agents account for much of the planned outlays, as the companies expand capacity despite mounting pressure on margins from higher upfront costs.

Tencent adds OpenClaw to WeChat

just now
SCMP
Tencent has introduced a ClawBot plug-in on WeChat, enabling its users to control OpenClaw AI agents within the app. The rollout expands Tencent's agentic ecosystem after similar integrations on QQ and WeCom, and comes as Chinese cybersecurity bodies issue guidance on security assessments and usage risks.

Sinopec 2025 profit drops 37%

just now
Sinopec
Sinopec reported a 36.8% YoY decline in 2025 net profit to RMB 31.8 billion, citing rising new energy substitution and weak petrochemical margins. Refinery throughput slipped 0.8% to 250.33 million tons, while gasoline and diesel output fell 2.4% and 9.1%, respectively. The company plans 2026 capital expenditure of RMB 131.6–148.6 billion.

DJI files patent suit against Insta360

just now
SCMP
DJI has filed a patent infringement lawsuit against Insta360 in Shenzhen, involving six patents related to drone flight control, structure, and image processing. The legal action comes three days before DJI's launch of its first 360-degree drone. Insta360's CEO said the disputed innovations were developed internally and rejected the allegations.

Jiuzi lands Vietnam truck order

just now
Jiuzi Holdings
Jiuzi Holdings expects to deliver an initial batch of more than 100 electric heavy-duty trucks to Vietnam after reaching cooperation intentions with several local customers. The company sees Vietnam as a hub for its Southeast Asia expansion and plans to establish local sales and after-sales service networks, while exploring further growth in Indonesia, Thailand, and Malaysia.

Berkshire to buy 2.5% of Tokio Marine

just now
WSJ
Berkshire Hathaway plans to acquire a 2.5% stake in Tokio Marine Holdings for USD 1.8 billion via its reinsurance arm National Indemnity, the Japanese insurer said. The partnership includes reinsurance collaboration and potential acquisitions, with National Indemnity joining Tokio Marine’s reinsurance panel. The stake cannot exceed 9.9% without board approval.

Sony nears USD 1 billion TCL deal

just now
Bloomberg
Sony Group is nearing a binding agreement to sell a majority stake in its home entertainment business to TCL Electronics in a deal valued at about USD 1 billion, according to people familiar with the matter. The companies previously outlined a joint venture with TCL holding 51% and Sony 49%, set to begin operations in April 2027. No final decision has been made.

Indonesia weighs fuel curbs, savings

just now
AFP
Indonesia is targeting savings of IDR 80 trillion to offset the impact of surging oil prices tied to the Middle East conflict, the presidency confirmed on March 23. The government is weighing measures to curb fuel consumption, including a weekly remote work day for some public workers, while maintaining fuel subsidies and its USD 19.7 billion free meals program.

Malaysia seeks oil supply backup

just now
CNA
Malaysia is seeking alternative energy suppliers after Iran closed the Strait of Hormuz, a route through which about 50% of its oil supply passes, Prime Minister Anwar Ibrahim said. Petronas is said to be preparing contingency plans and assessing options including Australia and other Asia Pacific countries, as fuel subsidies rise to MYR 3.2 billion a month.

Meinian teams up with Ant Health

just now
Shanghai Observer
Ant Health and Meinian Onehealth have agreed to a partnership to advance AI-driven healthcare and medical services. Meinian will contribute its nationwide screening centers and health data, while Ant Health will leverage its platform to connect online consultations with offline testing and follow-up care.

Xpeng sets up robotaxi unit

just now
Cailian Press
Xpeng has formed a robotaxi business unit to lead product definition, project integration, R&D testing, and operations. CEO He Xiaopeng said during the company’s latest earnings call that it plans to begin passenger-carrying demonstration operations in the second half of 2026 to validate its technology, customer demand, and business model.

ByteDance to sell Moonton for USD 6 billion

just now
Nikkei Asia
ByteDance has signed an agreement to sell mobile game studio Moonton to Saudi Arabia's Savvy Games for more than USD 6 billion, subject to regulatory approvals, according to people close to the deal. The divestment continues ByteDance’s gaming overhaul as it sharpens its focus on AI, while Moonton’s management and Shanghai base will remain in place.
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