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China’s Meland to make global debut with Bangkok family park

2 mins read

Pulses

Meland to open park in Bangkok

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KrASIA
Chinese family entertainment brand Meland will open its first overseas location in Bangkok’s Siam Paragon by the end of 2025. Developed with Siam Piwat, the 5,000-square-meter indoor park will feature six themed zones, hundreds of play experiences, and collaborations with D’strict, marking Meland’s global debut in family-oriented entertainment.

Cursor raises USD 2.3 billion

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CNBC
Cursor has raised USD 2.3 billion at a USD 29.3 billion valuation, nearly tripling its value since June. Backed by Nvidia, Google, and major venture firms, Cursor joins the ranks of companies valued above USD 10 billion. Its coding tool now generates more than USD 1 billion in annualized revenue.

Genshin Impact marketing lead exits

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KrASIA
Mihoyo confirmed that Xie Qiliang, marketing lead of Genshin Impact, has resigned for personal and career reasons after six years with the company. Xie joined from NetEase in 2020, and his departure marks another leadership change as Genshin Impact enters a steadier operational phase.

Apple to earn 15% from WeChat mini apps

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Bloomberg
Apple and Tencent have reached a deal allowing the iPhone maker to take a 15% commission on purchases made through WeChat mini games and apps, ending a longstanding payment dispute. The agreement gives Apple a new revenue stream in China and eases pressure on Tencent as both firms seek to stabilize ties in the world’s largest smartphone market.

Baidu unveils Ernie 5.0 at flagship event

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Baidu
Baidu unveiled Ernie 5.0, its natively "omnimodal" foundation model integrating text, images, audio, and video, at Baidu World 2025. The company also introduced new AI agents, including Famou and GenFlow 3.0, while expanding the global rollout of tools such as MeDo and its digital human technology.

Bilibili returns to profit in Q3 2025

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Bilibili
Bilibili reported Q3 2025 revenue of RMB 7.69 billion, up 5% YoY, driven by 23% growth in advertising. Net profit reached RMB 469.4 million, reversing a loss a year earlier, while adjusted profit surged 233% to RMB 786.3 million. Strong user engagement and cost discipline pushed margins higher, marking sustained profitability momentum.

JD beats forecasts, but profit drops

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JD.com
JD.com reported stronger-than-expected quarterly revenue of RMB 299.1 billion, up 15%, as subsidies and a push into quick commerce boosted growth. Profit plunged 55% to RMB 5.3 billion amid fierce discounting. The company also expanded abroad with a stake in Ceconomy but lost out on a potential Argos acquisition.

WeRide, Grab expand AV tests in Singapore

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WeRide
WeRide and Grab have received approval from Singapore’s Land Transport Authority to expand testing of their autonomous shuttle fleet in the city-state’s Punggol district. Trials began in October and will increase fourfold by year's end. The 11-vehicle fleet will pave the way for Singapore’s first residential autonomous shuttle service, expected to launch in early 2026.

Laifen enters floor washer market

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36Kr
Personal care brand Laifen is expanding into the floor washer market, a segment dominated by Ecovacs’ Tineco. The move follows Laifen’s push into shavers and electric toothbrushes as hair dryer sales plateau. Despite intense competition, the category continues to grow, reaching RMB 14.09 billion in sales in 2024.

China to curb deepfake spread

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Nikkei Asia
China’s top legislature has approved revisions to the internet safety law, tightening oversight of generative AI. The updated rules take effect in January. The law now extends beyond telecom security to cover AI risk management and the labeling of synthetic media. The move follows a surge of fake disaster and crime images online, leading to detentions and stricter enforcement.

Ant upgrades GlassPay security tools

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Ant International
Ant International has launched an iris authentication feature for its Alipay+ GlassPay system, adding a new biometric layer to its AR-based payment tools. The upgrade compares more than 260 iris markers with liveness detection and complements existing voiceprint verification. Xiaomi and Meizu are the first partners, and Ant is planning a wider rollout across the Asia Pacific.

Meituan Shangou logs Singles’ Day surge

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Jiemian News
Meituan Shangou said its GMV and user activity reached record levels from October 31 to November 11, as nearly 400 product categories, ranging from smartphones to cosmetics, posted YoY sales above 100%. The surge lifted per-capita spending by nearly 30%, while more than 800 brands, including Apple, Huawei, and Xiaomi, reported triple-digit YoY growth.

Douyin expands youth safety plan

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IT Zhijia
Douyin has announced a new plan that upgrades protections for users under 18 through enhanced parental controls, youth content, and public interest programs. The update introduces parent-child account binding, remote management of usage and social activity, and real-time risk alerts, while offline initiatives will support rural and migrant children through spaces and sports activities.

Former DeepSeek researcher joins Xiaomi

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The Paper
Luo Fuli, a former DeepSeek researcher, said she has joined Xiaomi to work on MiMo, the company’s first inference large model, confirming earlier rumors. Media reports linked her move to Xiaomi’s broader AI expansion, including plans for a 10,000-GPU cluster and increased R&D investment.

Xiaohongshu drives Singles’ Day sales

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Sina
Xiaohongshu said its "direct-to-buy" feature helped more than 100 products surpass RMB 10 million in sales from October 9 to November 6, led by nearly RMB 200 million for Haier’s washing machines. TCL and Roborock also recorded strong results as conversion efficiency rose and brand participation doubled compared with the 618 festival cycle.

Singles’ Day ends with muted demand in China

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Reuters
China’s Singles’ Day festival wrapped up after its longest campaign yet, with subdued spending underscoring continued consumer caution amid property and income worries. Despite deep discounts and subsidies from Alibaba, JD.com, and others, major platforms withheld sales figures as shoppers spread purchases throughout the year.

Vipshop weighs Hong Kong listing in 2026

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Bloomberg
Chinese online retailer Vipshop is considering a Hong Kong listing in 2026, according to people familiar with the matter. The US-listed firm has hired advisers for a possible share sale as more Chinese companies seek dual listings to attract global investors and hedge delisting risks.

ByteDance unit launches Doubao-Seed-Code

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SCMP
ByteDance’s Volcano Engine has launched Doubao-Seed-Code, an AI coding agent priced at RMB 9.9 for the first month, about 63% below the market average. Integrated with the Trae app, the model can process up to 256,000 words per query and achieved a 78.8% score on the SWE-Bench Verified test, rivaling Anthropic’s Claude Sonnet.

Yann LeCun weighs Meta exit

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WSJ
Yann LeCun, Meta’s chief AI scientist, is weighing a departure to launch a startup developing “world models,” an alternative to LLMs. His potential exit would close a decade of leadership at Meta as the company shifts its AI ambitions toward "superintelligence."

Tencent to form carbon credit alliance

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Bloomberg
Tencent plans to form a carbon credit buyers’ alliance by year's end, uniting Asian firms from technology, manufacturing, and consumer sectors to boost supply from Global South nations. The initiative, unveiled at COP30 in Brazil, aligns with Tencent’s voluntary goal of achieving carbon neutrality through large-scale credit purchases.
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