Alibaba

Baidu

ByteDance

Meituan

Pinduoduo

Tencent

Most Followed

KrASIA Connection

China's Auto Sector

Earnings Reports

Inside China's Startups

Venture Roundup

Our Events

View All

Collections

News

Features

Insights

Ecosystem

DeepSeek

Kuaishou

Li Auto

Xiaohongshu

Xiaomi

Xpeng

On the Radar

Tencent has launched and open-sourced Hunyuan Custom, a multimodal video generation model that supports text, image, audio, and video prompts. Built o…

Events

Latest

About

36Kr (EN)

Consumer

Robotics

Fintech

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

Artificial Intelligence

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

Deep Tech

China

Believing AI should challenge rather than reinforce habits, Yu Bo is building YouMind to appeal to the better side of human nature.

Most AI tools play to our worst instincts. YouMind is betting on the opposite

Decoding China&#039;s tech and business pulse

KrASIA

AI Now! is a global AI community of Chinese developers, professionals, and founders.

AI Now!

Photo of Nvidia CEO Jensen Huang speaking at CES 2025.

Nvidia develops GPUs for gaming, AI, and data centers, fueling graphics, machine learning, and compute-intensive workloads.

Nvidia

The US market serves as both the backbone and the driving force behind global technological advancements.

What grounds digital progress in physical form? Analyze chipsets, sensors, and advanced components driving device performance.

Hardware

What powers digital devices? Delve into chip design, manufacturing bottlenecks, and semiconductor breakthroughs fueling global electronics.

Semiconductors

Nvidia’s data center revenue surged 73%, but new export restrictions triggered a USD 4.5 billion writedown.

Blackwell rollout lifts Nvidia in Q1, but China loss stings

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.

Sudo Lim

How do markets shape wealth creation? Study portfolio diversification, asset classes, and strategies balancing growth and risk.

Investment

When do companies invite public investment? Understand listing criteria, underwriter roles, and regulatory steps defining initial offerings.

Why do firms join forces? Investigate synergy goals, valuation methods, and negotiations driving corporate consolidation.

Merger &amp; Acquisition

What happens after acquisitions close? Examine deal structures, operational improvements, and exit strategies molding corporate outcomes.

Private Equity

What fuels startup ecosystems? Review funding rounds, investor strategies, and market insights guiding entrepreneurial growth.

Venture Capital

Australia

Indonesia

Malaysia

Oceania

Singapore

Southeast Asia

Vietnam

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Deals in brief: Temasek’s Xora invests in GridCare, Airwallex raises Series F funding, Antler backs three early-stage SEA startups, and more

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

Header Section | KrASIA

Home

Sections

Header Section

<a href="/company/tencent">Tencent</a> has launched and open-sourced Hunyuan Custom, a multimodal video generation model that supports text, image, audio, and video prompts. Built on Hunyuan Video, the model is said to outperform tools like Pika and VACE in human- and object-centric video generation across multiple benchmarks.

<a href="/company/bytedance">ByteDance</a> is laying off several hundred staff across TikTok Shop and Tokopedia in Indonesia, cutting its local e-commerce workforce to about 2,500. The move follows its USD 1.5 billion merger with Tokopedia, as the company navigates fierce competition and antitrust scrutiny over its growing market share.

<p data-start="880" data-end="1213"><a href="/company/huawei">Huawei</a> and Thailand’s Ministry of Digital Economy and Society co-hosted a summit in Bangkok on May 30 to promote <a href="/industry/ai">AI</a> adoption and digital growth. With over 2,000 attendees, the event unveiled partnerships with Chulalongkorn University and plans to train 20,000 AI developers by 2025, reinforcing Thailand’s bid to become ASEAN’s digital and AI hub.</p>

<a href="/company/pop-mart">Pop Mart</a> has suspended UK sales of its <a href="https://kr-asia.com/pop-marts-labubu-breaks-records-in-thailand-can-the-trend-go-global">Labubu figurines</a> after a brawl broke out at a London store. The collectible has become a global fashion item, backed by celebrities like Rihanna and Dua Lipa, with resale prices surging. Amid soaring demand, the company now faces rising pressure to balance hype with supply.

Huadian New Energy, the renewable energy arm of China Huadian, has secured regulatory approval for an IPO in Shanghai, targeting RMB 18 billion in proceeds to fund wind and solar projects. Despite high debt and curtailment rates, the company is buoyed by revenue growth and national climate targets.

Insta360 launched its IPO today at RMB 47.27 per share, valuing the firm at RMB 17 billion, 20 times its price-to-earnings ratio. From 2022–2024, its revenue rose at a 65.25% CAGR to RMB 5.57 billion, while net profit more than doubled to RMB 995 million.

On May 30, a US appeals court reinstated President Donald Trump’s sweeping tariffs by pausing a <a href="https://kr-asia.com/pulses/154091">trade court ruling</a> that found he had exceeded his authority. The move preserves duties of up to 15% on most imports, including from Canada, Mexico and China, as legal and economic uncertainty continues to weigh on trade partners and markets.

<a href="/company/netease">NetEase</a> shares are nearing a four-year high, climbing about 45% this year in Hong Kong on strong demand for both legacy and new titles. Analysts cite youth-driven consumption, easing rivalry with <a href="/company/tencent">Tencent</a>, supportive regulation, and low valuations as key drivers of China’s <a href="/industry/gaming">gaming</a> stock rally.

<a href="/company/openai">OpenAI</a> COO Brad Lightcap said the company aims to build an “ambient computer layer” that moves <a href="/industry/ai">AI</a> beyond screens. Speaking on May 30, he said he’s unawre of details around Sam Altman and Jony Ive’s secretive hardware project, but confirmed OpenAI now serves three million enterprise clients, up 50% since February.

Hozon Auto, which manufactures <a href="/industry/ev">EVs</a> under the Neta brand, has seen its bid to swap RMB 3 billion in supplier debt for equity falter after converting only two-thirds of the target, sources said. The company still owes around RMB 6 billion and now faces investor calls to remove CEO Fang Yunzhu, whose shares were frozen by a May 13 court order.

China’s carbon emissions fell 1% in the year to March, according to Finnish think tank CREA, as surging solar and wind output offset coal use. With factories still running, the decline points to structural shifts in energy consumption, though weather risks, grid limits, and policy changes could challenge the durability of the trend.

The prospect of US tariffs has added to the industry's deep-rooted challenges.

Indonesia seeks to stitch competing interests to boost textile sector

As part of 36Kr’s ongoing partnership with Nikkei, you can read selected content from Nikkei Asia on KrASIA.

https://secure.gravatar.com/avatar/aec5e55596415464d13490d0e0caa9a2?s=96&d=blank&r=g

Nikkei Asia

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

DJI sets industry standards in drone technology, offering aerial imaging, filming solutions, and advanced flight controls for professionals and hobbyists.

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

East Asia

What drives digital storytelling? Examine content creation, distribution channels, and media platforms connecting audiences worldwide.

Content

How do ideas shape industries? Learn how content, design, and digital artistry influence branding, marketing, and cultural impact.

Creative

Who thrives in a digitally democratized landscape? Discover how independent creators, influencers, and educators monetize content and expertise.

Creator Economy

What entertains a connected world? Track shifts in film, music, and media consumption, as platforms and audiences redefine cultural experiences.

Entertainment

Can brief clips hold lasting impact? Analyze short-form content trends, creator communities, and platform strategies for rapid viewer engagement.

Short Video

How do visuals captivate global viewers? Dive into streaming services, production models, and evolving formats defining video engagement.

Video

Filings frame the Osmo 360 as a blend of DJI’s gimbal roots with a form factor suited for motion-heavy creators.

DJI readies Osmo 360 launch, targeting GoPro in 360-degree camera market

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.

https://secure.gravatar.com/avatar/a6b9ace74da9df391d5f7ba1892f4393?s=96&d=blank&r=g

36Kr English

The new unit will oversee rights management, partnerships, and distribution for short drama productions across Douyin and Hongguo.

Tencent unveils Hunyuan Custom model

Latest Pulses

Most Recent

Indonesia seeks to stitch competing interests to boost textile sector

DJI readies Osmo 360 launch, targeting GoPro in 360-degree camera market

Douyin sets up unified copyright office for short drama content