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Enlight Media caps record year, but questions linger after Ne Zha 2 boom

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Pulses

Singles’ Day ends with muted demand in China

just now
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

just now
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

just now
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

just now
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.

SoftBank offloads Nvidia, T-Mobile shares

just now
CNBC
SoftBank has sold its entire Nvidia stake for USD 5.83 billion and part of its T-Mobile shares for USD 9.17 billion to fund a USD 22.5 billion investment in OpenAI and other AI initiatives. The company said the sales are part of its “asset monetization” strategy and not a reflection of concern over AI valuations.

EU weighs Huawei, ZTE network ban

just now
Bloomberg
The European Commission is weighing a plan to make its guidance on high-risk telecom vendors legally binding, potentially forcing EU nations to phase out Huawei and ZTE. Led by vice president Henna Virkkunen, the proposal could extend to fiber networks and tie EU funding to compliance as Brussels hardens its stance on Chinese tech suppliers.

Tencent expands Weixin payment options

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Tencent
Tencent has launched TenPay Global Checkout, a unified payment solution that allows overseas merchants using Weixin mini programs to accept local payment methods such as Singapore’s PayNow. Rolling out first in Singapore and Macao before reaching Japan, Australia, and New Zealand, the service aims to streamline cross-border payments and expand merchant reach.

Klook seeks NYSE listing amid travel boom

just now
Reuters
SoftBank-backed Klook has filed for a US IPO after 2024 revenue rose 24% to USD 417.1 million. The Hong Kong-based travel platform plans to list on the NYSE, joining a revived IPO market buoyed by tourism’s rebound. Backers see upside in its mobile-first focus, though analysts note thinner margins in the experiences segment.

Agibot restructures ahead of IPO

just now
SCMP
Agibot has converted to a joint stock limited company, a key step toward an IPO, and rebranded as Zhiyuan Innovation. The Tencent-backed robotics firm is reportedly eyeing a Hong Kong listing valued at up to HKD 50 billion, as China’s humanoid robot makers rush to capital markets.

TikTok unveils Lead Genie assistant

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TikTok
TikTok has introduced Lead Genie, an AI-powered messaging assistant that helps businesses manage customer interactions, collect leads, and respond round-the-clock through natural conversations. Early users reportedly saw up to 80% lower lead costs and higher conversions.

Ant open-sources Falcon TST model

just now
Ant International
Ant International has open-sourced its Falcon TST (time-series transformer) AI model, a 2.5-billion-parameter system that has reportedly achieved over 90% accuracy in forecasting cashflow and foreign exchange exposure, reducing costs by up to 60%. Now available on GitHub and Hugging Face, the release aims to spur innovation in time-series forecasting.

Gen Z blends joy and reason in shopping

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Soul App
A new report from Soul App finds that “paying for happiness” defines how young consumers spend. Travel tops emotional consumption at 36.9%, followed by digital and creative purchases. While most increased or maintained their Singles’ Day budgets, many still verify “lowest price” claims, a sign of joy tempered by caution.

LiberLive debuts LiberAOS system

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KrASIA
LiberLive has introduced LiberAOS, a proprietary high-dynamic sampling and synthesis system that powers its new C2 stringless guitar. Built on a multicore chipset, the system reportedly captures detailed performance nuances and delivers studio-level sound through an advanced tone library and real-time audio engine.

Beijing resumes Nexperia chip exports

just now
Bloomberg
China said it has exempted compliant Nexperia chip exports for civilian use, marking a step toward easing trade tensions with Europe. The commerce ministry also urged the Netherlands to correct its “erroneous practices,” as automakers including Volkswagen and Honda warned of disruptions from the continuing supply dispute.

Kimi K2 Thinking outperforms US rivals

just now
SCMP
Moonshot AI has launched Kimi K2 Thinking, a one-trillion-parameter reasoning model that reportedly outperforms OpenAI’s GPT-5 and Anthropic’s Claude Sonnet 4.5 on key benchmarks. The Beijing-based firm said the open-source model’s MoE design enhances reasoning and agentic capabilities while providing API access up to ten times cheaper than US counterparts.

France halts Shein suspension move

just now
Reuters
French authorities have halted suspension proceedings against Shein after the retailer removed banned items, including sex dolls and weapons, from its site. Officials said Shein remains under close watch, with judicial proceedings and investigations still underway.

Nvidia says no Blackwell talks with China

just now
SCMP
Nvidia CEO Jensen Huang said there are no active discussions to sell its Blackwell chips to China under current US export restrictions. He added that the company has no plans to ship products there and holds no share of China’s AI chip market, though limited H20 chip sales remain permitted.

Musk wins backing for USD 1 trillion pay deal

just now
Reuters
Tesla shareholders have approved CEO Elon Musk’s record pay package, potentially worth up to USD 1 trillion over the next decade. Backed by more than 75% of investors, the plan ties Musk’s pay to long-term milestones in autonomous driving, robotaxis, and humanoid robotics, despite concerns over cost, oversight, and his growing influence.

Shenzhen vendors hit by soaring chip costs

just now
SCMP
Memory chip and storage prices have reportedly surged across Shenzhen’s Huaqiangbei electronics market, with some DDR5 models nearly doubling in price since September. Vendors said rising AI-driven demand for large-capacity chips has also tightened supply for consumer electronics, pushing up prices for smartphones, PCs, and tablets.
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Events

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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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