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Geely 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 billi…

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<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.

Dingdong Maicai has partnered with DFI Retail Group to deliver mainland produce to Hong Kong. Select vegetables are already available in Wellcome stores, its online shop, and on Foodpanda. The rollout will expand to other supermarket brands, with a first-year sales target of HKD 100 million.

Auntea Jenny opened 68.5% above its IPO price at HKD 190.6, lifting its market cap to HKD 19.5 billion after a heavily oversubscribed IPO. The tea chain operates more than 9,000 mostly franchised stores across China and ranked fourth nationwide by outlet count as of 2023.

Baojun is set to debut a new SUV equipped with <a href="/company/huawei">Huawei’s</a> Qiankun ADS system and LiDAR. Slated for launch by year-end and priced at RMB 150,000–250,000, it will be Baojun’s priciest model to date, yet one of Huawei’s most affordable ADAS collaborations, as both firms test cost-performance limits in the EV market.

Beijing Hyundai, the joint venture between BAIC and Hyundai, has unveiled the Elexio, its first all-electric SUV built on the E-GMP platform. Featuring a 700-kilometer range, Haomo.AI driver assistance, and LLM-based voice control, the model targets China’s mainstream EV segment and is scheduled to launch in Q3 2025.

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/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.

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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.

Geely pursues full buyout of Zeekr

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Southeast Asian VCs move to set startup governance standards

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