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Shein and Temu ramped up digital ad spending in Europe in April, with double-digit gains in France and the UK, as looming US tariffs undercut growth i…

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What lies beyond familiar frontiers? Investigate emerging tech—like quantum computing and AI—transforming traditional sectors.

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With clients like BYD and Ecovacs, the Shenzhen-based firm says its purpose-built tightening robots can outperform generic systems.

A smarter way to tighten screws? Slabor lands early funding to prove it

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36Kr is China's most influential business and technology network, delivering high-quality content focused on China’s innovation and new economy trends since 2010. With its extensive traffic and network, 36Kr has built a comprehensive database and strong data analytics capabilities to provide insights into China’s technology landscape.

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Image of the YU7, a pure electric SUV by Xiaomi. It is scheduled for release in mid-2025.

China’s tech ecosystem serves as a driving force behind the world’s second largest economy, influencing global digital markets.

Explore East Asia’s thriving tech hubs, global electronics producers, and fast-evolving digital platforms shaping cross-border innovation.

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Xiaomi crafts affordable smartphones, wearables, and IoT devices, appealing to users who seek innovation, quality, and budget-friendly tech.

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With the YU7, Xiaomi seeks not only redemption, but a shot at surpassing Tesla.

After SU7 setback, Xiaomi reboots EV push with safer, smarter YU7

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Deals in brief: CrediLinq secures Series A funding, Vertex Ventures backs Quantified Energy, Ringkas raises 5.1 million, and more

An alias used when humans and machines team up in our newsroom. Articles under this byline may be shaped with the help of AI, but are always vetted by a human before publication.

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KrASIA tracks China’s tech and business stories—alongside key developments across the broader Asia Pacific region.

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<a href="/company/shein">Shein</a> and <a href="/company/temu">Temu</a> ramped up digital ad spending in Europe in April, with double-digit gains in France and the UK, as looming US tariffs undercut growth in their core market. Both fast fashion platforms cut US ad budgets and are also investing in Brazil, where Temu recently entered and Shein expanded local manufacturing.

<a href="/company/tesla">Tesla</a> sold 7,261 vehicles in Europe in April, down 49% YoY, even as regional EV sales grew 34%, according to ACEA data. The decline reportedly reflects growing adoption of hybrid vehicles, intensifying competition, and reputational fallout tied to Elon Musk’s political activity. Tesla’s European sales fell nearly 40% in the first four months of 2025.

<a href="/company/tencent">Tencent</a> will acquire nearly 10% of SM Entertainment for about USD 180 million from Hybe, which is selling its remaining 2.2 million shares at a 15.3% discount. The deal marks a rare Chinese investment in South Korea’s music sector and comes amid expectations that China may lift its longstanding unofficial ban on K-pop performances.

<a href="/company/tencent">Tencent’s</a> Level Infinite has signed an MoU with Invest Qatar to co-develop the country’s gaming ecosystem. Announced at the Qatar Economic Forum, the partnership includes talent development, stakeholder engagement, and tech transfer, positioning Qatar as an emerging hub in the MENA <a href="/industry/gaming">gaming</a> market.

GridCare has emerged from stealth with USD 13.5 million in seed funding to help <a href="/industry/ai">AI</a> infrastructure developers address power bottlenecks by accessing unused grid capacity. Backed by Temasek’s Xora, its platform is designed to reduce time-to-power from years to months.

<a href="/company/kuaishou">Kuaishou</a> posted Q1 2025 revenue of RMB 32.6 billion, up 10.9% YoY, driven by gains in <a href="/industry/e-commerce">e-commerce</a>, live streaming, and AI-powered ad services. Adjusted net profit rose to RMB 4.6 billion, while overseas operations turned a profit of RMB 28 million, reversing a RMB 268 million loss a year earlier.

<a href="/company/pinduoduo">PDD Holdings</a> reported Q1 2025 revenue of RMB 95.7 billion, up 10% YoY, driven by gains in online marketing and transaction services. However, net income fell 47% to RMB 14.7 billion, and non-GAAP profit declined 45% as the company increased spending to support merchants amid market uncertainty.

Zhihu reported Q1 2025 revenue of RMB 729.7 million, down 24% YoY, as it refocused operations and trimmed costs. Gross margin rose to 61.8%, and net loss narrowed 93.9% to RMB 10.1 million. Adjusted net income reached RMB 6.9 million, marking Zhihu’s first-ever Q1 non-GAAP profit since its IPO.

Beijing has released a 2025 action plan to drive AI-powered upgrades in manufacturing. The 16-point strategy supports the development of datasets, foundation models, simulation tools, and embodied intelligence, with up to RMB 50 million in funding for key initiatives.

<a href="/company/xiaomi">Xiaomi</a> posted a 161% YoY jump in Q1 net profit to RMB 10.9 billion, with revenue climbing 47.4% to a record RMB 111.3 billion. Growth was driven by SU7 <a href="/industry/ev">EV</a> deliveries, which reached 75,869 units, and a 58.7% rise in IoT and lifestyle product revenue. Adjusted net profit hit RMB 10.7 billion, up 64.5% YoY.

WeRide has expanded into Saudi Arabia, launching trials of autonomous taxis, buses, and sanitation vehicles in Riyadh and Al Ula. Backed by local transport authorities and set to debut on Uber, the rollout reportedly supports Saudi Arabia’s Vision 2030 goals. Full commercial services are expected by late 2025.

Keeta, an independent brand of Meituan, specializes in food and consumer product delivery services.

Keeta

Meituan, China’s all-in-one local services platform, covers food delivery, travel bookings, and lifestyle deals, simplifying daily consumer choices.

Xiaoxiang Supermarket leverages digital channels to deliver groceries and essentials directly to local consumers’ doorsteps.

Xiaoxiang Supermarket

What sets the bar for convenience? Examine on-demand platforms, subscription models, and personalization transforming consumer expectations.

Consumer Economy

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How does dinner arrive at your door? Study platform partnerships, last-mile delivery, and culinary trends powering the takeaway economy.

Food Delivery

What changes the way we shop? Review fresh inventory management, dark stores, and logistics driving door-to-door grocery services.

Grocery Delivery

How do platforms deliver on immediacy? Analyze ride-hailing, instant deliveries, and gig models meeting consumer needs fast.

On-demand Services

How do stores adapt to digital shifts? Explore e-commerce integration, inventory analytics, and omnichannel strategies for modern shoppers.

Retail

While profits are up, Meituan is bracing for volatility as rivals ramp up discounting and regulators tighten oversight.

Meituan had a strong Q1, but it may be the calm before the subsidy storm

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Tencent, a Chinese tech conglomerate, invests in gaming, social media, and cloud services, supporting entertainment and connectivity worldwide.

What guides machine-led insights? Uncover AI applications, language models, and decision-making systems transforming sectors worldwide.

Artificial Intelligence

New model releases and a revamped AI agent development platform highlight Tencent’s push toward practical, enterprise-focused AI applications.

Tencent doubles down on agentic AI with latest Hunyuan updates

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Nio, a Chinese electric car maker, specializes in high-performance EVs, battery-swapping solutions, and autonomous driving technologies.

Sportier aesthetics, reworked interiors, and AI-powered ride control define the updated midsize EVs, offered at the same starting price.

Shein and Temu shift ad focus to Europe amid US tariff squeeze

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