China’s largest budget snack chain, Mingming Henmang, filed for a Hong Kong IPO after surpassing 14,...

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China’s largest budget snack chain, Mingming Henmang, filed for a Hong Kong IPO after surpassing 14,000 stores nationwide. Formed from a 2023 merger, it generated RMB 555 billion in 2024 sales but posted slim 7.6% margins. Over half its outlets are in counties and townships, where scale drives growth.

Terminus Group reported 2024 revenue of RMB 1.843 billion, up 83.2% YoY, in its updated IPO prospectus, emphasizing a sharpened focus on spatial intelligence. Its industrial digitalization business led growth, while a revamped AIoT stack and DeepSeek-powered domain models signal deeper integration of AI across smart cities and enterprise use cases.

Konka Group posted a 141.8% jump in Q1 2025 profit to RMB 258 million, driven by tighter integration of its electronics and semiconductor arms. Advances in micro LED chips, storage controllers, and AI hardware are feeding into premium products like its Aphaea TVs, as the firm shifts from appliances to full-stack tech.

Huawei has introduced a new AI deployment framework for manufacturing, featuring a three-layer model, five maturity stages, and an eight-step roadmap. Alongside it, the firm launched 20 AI solutions and showcased deployments with partners like GAC and FAW. The framework aims to lower adoption barriers and accelerate digital transformation in industry.

In March, Meituan rolled out a platform-wide membership program unifying perks across services from food delivery to hotels. The revamp builds on its “God voucher” system and aims to boost user retention. Meituan sees the program as infrastructure and not a profit center, designed to drive lifetime value over short-term ROI.

A US lawmaker plans to propose a bill requiring location tracking for AI chips like Nvidia’s, aiming to stem smuggling into China that violates export controls. The bipartisan push follows reports of illicit chip use in advanced Chinese AI systems. The legislation would also explore disabling unlicensed chips.

Hangzhou-based design firm Manycore has filed for a Hong Kong IPO, aiming to expand its spatial intelligence platform beyond interior design. Known for tools like Kujiale and Coohom, the company reported RMB 552.9 million in revenue for the first nine months of 2024. Losses narrowed, as it pivots toward building AI-driven “world models” for real-world simulation.

Singapore-based Co-Axis has secured SGD 1.25 million in catalytic capital from the Richardson Family and Temasek Trust’s Catalytic Capital for Climate and Health (C3H) to co-finance early-stage climate and health projects. The platform aims to bridge Asia’s SDG financing gap by backing vetted initiatives across more than 40 countries.

Krenovator, a Malaysia-based tech talent platform, has raised seed funding from Ignite Asia to scale its AI-powered sourcing services. With a 30,000-strong talent pool in Southeast Asia, the company plans to scale operations, expand services, and triple revenue within 18 months.

US President Donald Trump said he may grant another extension for TikTok’s US divestment deadline, citing support for keeping the app accessible to Americans. He previously delayed the timeline by 75 days in April and told NBC he has a “warm spot” for the platform, which he credited with boosting his 2024 campaign’s appeal to young voters.

Ant Group is reportedly planning to list its Singapore-registered overseas unit, Ant International, in Hong Kong and is in talks with regulators. The unit, which contributes around 20% of Ant’s revenue, operates key cross-border payment platforms including Alipay+, Antom, and WorldFirst. No policy barriers have been flagged so far.

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The Chinese AIoT firm is homing in on spatial intelligence as a key focus.

DeepSeek’s rise lifts Terminus as AIoT firm reports revenue growth | KrASIA

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DeepSeek’s rise lifts Terminus as AIoT firm reports revenue growth

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A shift in focus toward semiconductors appears to have paid off for Konka.

From TV maker to chip innovator, Konka delivers record profit jump in Q1 | KrASIA

From TV maker to chip innovator, Konka delivers record profit jump in Q1

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Huawei, a global telecom and smartphone vendor, delivers networking equipment, 5G solutions, and consumer devices integrating cutting-edge tech.

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The company also showcased case studies with automakers GAC and FAW.

Snack giant Mingming Henmang files for IPO

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