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Honor of Kings, a popular MOBA published by Tencent, led global mobile game revenue in April 2025, boosted by Sanrio-themed content. China’s iOS marke…

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BYD, a Chinese EV maker, produces electric cars, buses, and batteries, accelerating adoption of sustainable transportation worldwide.

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<em>Honor of Kings</em>, a popular MOBA published by <a href="/company/tencent">Tencent</a>, led global mobile game revenue in April 2025, boosted by Sanrio-themed content. China’s iOS market ranked second globally, accounting for 18.8% of total spending. Chinese publishers also gained early traction with new titles like NetEase’s <em>Once Human</em>, which placed in the top five for download growth.

Vehicle shipments from <a href="/company/tesla">Tesla’s</a> Shanghai plant fell 6% YoY in April, marking a seventh consecutive monthly decline. In contrast, <a href="/company/byd">BYD</a> posted record sales and China’s NEV market grew 42%, underscoring Tesla’s mounting challenges amid fierce domestic competition and global backlash tied to CEO Elon Musk’s political profile.

Fintech startup Seedflex has raised USD 3.2 million in a seed extension round to scale its lending platform across Southeast Asia. Co-led by ZVC and Iterative, with backing from existing and angel investors, the funding will support its pay-as-you-sell credit model for MSMEs and fuel expansion beyond Malaysia, where it reportedly partners with over ten merchant ecosystems.

<a href="/company/shein">Shein</a> and <a href="/company/temu">Temu</a> reported US sales drops of 23% and 17%, respectively, in the week after raising prices to offset Trump-era tariffs. The declines follow the removal of a duty-free import loophole and a 145% tariff hike. Temu is shifting to local fulfillment, while Shein faces IPO delays amid pricing and regulatory pressure.

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Nuevocor has raised USD 45 million in a Series B funding round co-led by Kurma Partners and Angelini Ventures, with participation from EDBI, ClavystBio, Boehringer Ingelheim Venture Fund, Highlight Capital, and Seeds Capital. The funding will support clinical development of NVC-001, a gene therapy for LMNA-related cardiomyopathy, with trials set to begin in 2026 across sites in the US and Europe.

<a href="/company/geely">Geely</a> has announced plans to acquire the remaining 34.3% of Zeekr it doesn’t already own, offering a 13.6% premium in a deal worth about USD 2.2 billion. The move would delist Zeekr less than a year after its US IPO, amid trade tensions and policy shifts encouraging Chinese firms to return to domestic or Hong Kong markets.

<a href="/company/grab">Grab</a> has appointed advisors to explore a potential USD 7 billion takeover of Indonesian rival <a href="/company/goto">GoTo</a>, sources said, suggesting talks may be advancing. The deal would involve most of GoTo’s operations, excluding its finance unit, and could face regulatory scrutiny in Indonesia and Singapore, where a merger would significantly reshape market share.

<a href="/company/baidu">Baidu</a> has filed a patent for AI technology that interprets animal emotions by analyzing “voice, body language, behavioral changes, and other biological signs,” then translating them into human language. The system uses deep learning and NLP, but Baidu hasn’t disclosed its intended use. Approval could take up to five years. It remains unclear if the tech will be commercialized.

Shares of Auntea Jenny rose 62.5% to HKD 183.8 in gray market trading ahead of its Hong Kong listing on May 8, lifting its market cap to HKD 18.8 billion. It is China’s fourth largest made-to-order tea chain and follows Naixue, ChaPanda, GoodMe, and Mixue Bingcheng as the latest entrant to the public market.

Uber will inject an additional USD 100 million in WeRide, its largest such investment to date, as the two expand robotaxi deployment to 15 cities across Europe and the Middle East. The move builds on a 2023 investment and reflects growing reliance on Chinese tech partners in global ride-hailing strategies.

Chinese EV makers have reported limited impact from recent US tariff hikes, pointing to earlier moves to localize sourcing and diversify supply chains. As automakers like <a href="/company/tesla">Tesla</a> face rising costs and production challenges, China’s EV sector has remained relatively stable amid ongoing trade tensions.

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The guidelines aim to reduce the likelihood of scandals and help firms prepare for exits.

Southeast Asian VCs move to set startup governance standards

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With contingency plans and supplier alternatives lined up, Chinese automakers appear ready for the turbulence.

Trump’s new tariffs rattle supply chains, but China’s EV firms aren’t blinking

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Once mistaken for a foreign brand, Pelliot is now bound for an IPO as one of China’s top outdoor apparel labels.

Tencent’s Honor of Kings tops mobile spend

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