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Former DJI engineer launches Strutt to bring a human touch to mobility tech

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Pulses

Mixue explores breakfast offerings

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Jiemian News
Mixue Bingcheng is piloting a breakfast menu in cities including Dalian, Xi’an, Nanning, and Hangzhou after surveying consumers about morning habits. Early items such as grain-based milk drinks are priced at RMB 5, and no large-scale rollout is planned. The trials come as Mixue expands its portfolio, adding fresh beer through its acquisition of Fulujia.

Nexperia warns of supply disruptions

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Bloomberg
Nexperia warned that customers face imminent production stoppages as its China unit remains unresponsive after Dutch authorities asserted oversight powers. In an open letter, the chipmaker urged the subsidiary to restart communication or work through a third-party mediator. The Netherlands has since suspended its order while discussions with Chinese authorities continue.

Avatr files for Hong Kong IPO

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Jiemian News
Avatr has filed for a Hong Kong IPO. Backed by Changan Automobile, Huawei, and CATL, the EV maker delivered 56,729 vehicles in the first half of 2025 and grew revenue 98.5% to RMB 12.21 billion. The company has accumulated more than RMB 100 billion in losses, while a recent stake sale implied a valuation of about RMB 26 billion.

Zootopia 2 sets China box office record

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36Kr
Disney’s Zootopia 2 generated more than RMB 213 million on its opening day in China, setting a national single-day record for an imported animated film, according to Maoyan Pro. It also became the country’s top presale animated release, with first-day presales exceeding RMB 189 million as of November 26.

Soul App files for Hong Kong IPO

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Soul App
Tencent-backed Soul App has filed for a Hong Kong IPO, reporting RMB 2.21 billion in 2024 revenue and sustained profitability, according to its application proof. The AI-powered social platform reached 11 million daily active users earlier this year, driven by its emotional intelligence model Soul X. Proceeds will be used to fund its AI R&D, global expansion, and user growth.

Zong Fuli steps down at Wahaha

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SCMP
Zong Fuli has stepped down as legal representative, chairwoman, and general manager of Wahaha Group a year after taking over from her late father, filings show. Former legal executive Xu Simin has assumed the roles. Zong retains a 29% stake as she faces ongoing court disputes in mainland China and Hong Kong with three half-siblings over alleged offshore trusts.

Alibaba enters smart glasses market

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SCMP
Alibaba has launched its first AI glasses in China with the Quark series, offering S1 and G1 models priced from RMB 3,799 and RMB 1,899, respectively. Powered by Qualcomm’s Snapdragon AR1 chip, the devices provide hands-free assistance and integrate with Alibaba’s app ecosystem. The launch adds new competition for Meta, Xiaomi, and Rokid as demand for smart glasses rises globally.

CATL, Stellantis break ground in Spain

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Xinhua
CATL and Stellantis have begun building a EUR 4.1 billion LFP battery plant in Aragon, with production slated for late 2026 and capacity of up to 50 GWh. Spanish and Chinese officials called the project a milestone for Europe’s electrification push, as Chinese new energy firms expand manufacturing and supply chain ties across the region.

Xiaomi hires former Tesla engineer

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SCMP
Xiaomi has hired Zach Lu Zeyu, an engineer formerly with Tesla’s Optimus team, to lead its dexterous hand R&D as the company expands its robotics ambitions. Lu’s experience in manipulation and tactile sensing comes amid a broader recruitment push for robotics talent, with hundreds of openings across the company.

Google to test AI glasses projects

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36Kr
Google has advanced two AI glasses projects into POC-stage testing with Foxconn, Samsung, and Qualcomm. Separate from Project Aura, the devices are expected to use waveguide optics and could debut in 2026 Q4. The effort builds on Google’s Android XR platform and Gemini-based AI as the company reenters the smart eyewear market.

Baidu cuts jobs after quarterly loss

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SCMP
Baidu has begun layoffs across several business groups, including search, cloud, and platform units, as it moves to streamline costs following a third-quarter loss. Employees said teams in multiple cities were cut and offered severance tied to tenure. The company also reorganized its AI work into separate foundational and application model units under CEO Robin Li.

Molly Tea enters Indonesia

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36Kr Chuhai
Molly Tea opened two stores in Jakarta on November 21, generating more than IDR 700 million in three-day sales as it entered its sixth overseas market. The Chinese tea brand is expanding across Southeast Asia and the US while localizing products and supply chains, bringing its global footprint to over 2,000 stores, including more than 30 overseas.

Japan plans tax on small imports

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Nikkei Asia
Japan is preparing to end its consumption tax exemption for imported goods priced at RMB 10,000 or less, shifting tax collection to major platforms such as Temu, Shein, and Qoo10. The change aims to address low-priced cross-border sales and could raise purchase prices about 10% as lawmakers finalize fiscal 2026 tax updates.

Anta weighs Puma takeover

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Bloomberg
Anta Sports is exploring a potential takeover of Puma and has been working with an adviser to assess a bid, according to people familiar with the matter. Li-Ning and Asics may also consider offers. Talks remain preliminary, and valuation expectations from Puma’s largest shareholder Artemis could pose a hurdle. Puma’s share price slump has cut its market value to about EUR 2.5 billion.

Phone makers drop “Air” plans

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Jiemian News
Xiaomi, Oppo, and Vivo have canceled their respective "Air" phone projects and shifted planned eSIM features to standard devices, sources said, reflecting weak demand for ultra thin smartphones. Apple’s iPhone Air has also reportedly underperformed, with suppliers scaling back production. Huawei continues with its Mate 70 Air, which analysts say offers a more balanced mix of battery life, imaging, and design.

EcoFlow expands into Australia

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EcoFlow
EcoFlow has secured Clean Energy Council certification for its home battery and solar technologies, marking its formal entry into Australia. The approval confirms compliance with local safety and performance standards as the company prepares to launch modular LFP-based systems designed for installers. The company is also planning broader product introductions and partnerships beginning in 2026.

Pentagon adds Chinese firms to list

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Bloomberg
The Pentagon told the US Congress it has determined Alibaba, Baidu, BYD, and five other Chinese companies should be added to the US 1260H list identifying firms tied to China’s military. The notice preceded the recent US-China trade truce. Alibaba denied any military links, and China’s foreign ministry criticized the move. The designation carries no direct penalties but increases compliance and investor risk concerns.

ByteDance weighs Moonton sale

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Bloomberg
ByteDance is in talks to sell Shanghai Moonton Technology, the studio behind Mobile Legends: Bang Bang, to Saudi Arabia’s Savvy Games Group, reviving a divestment plan paused last year. Moonton was acquired in 2021 at a roughly USD 4 billion valuation. The discussions come as ByteDance pulls back from gaming and Savvy accelerates investments.

Cheetah Mobile returns to profit

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Cheetah Mobile
Cheetah Mobile reported Q3 2025 revenue of RMB 287.4 million, up 49.6% YoY, as its AI and miscellaneous segment grew 150.8% to half of total revenue. Operating profit reached RMB 3.9 million, its first in six years, while non-GAAP operating profit rose to RMB 15.1 million. Net loss narrowed to RMB 11 million, and cash stood at RMB 1.6 billion.

EHang posts Q3 slowdown

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EHang
EHang reported Q3 revenues of RMB 92.5 million, a decline from RMB 128.1 million a year earlier, as deliveries fell to 42 eVTOL aircraft units, according to its unaudited results . The company posted an RMB 82.1 million net loss while launching the VT35, preparing commercial operations in China, and expanding trial programs across Asia, the Middle East, and Africa.
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