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As its first RMB fund nears expiration, Borchid Capital sold its remaining 0.89% stake in Pop Mart for HKD 2.27 billion across three block trades. The…

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As its first RMB fund nears expiration, Borchid Capital sold its remaining 0.89% stake in <a href="/company/pop-mart">Pop Mart</a> for HKD 2.27 billion across three block trades. The firm had backed the company since 2010 and joined multiple funding rounds ahead of its 2020 IPO.

<a href="/company/meituan">Meituan</a> plans to raise RMB 9–10 billion in its debut "dim sum" bond offering, comprising five- and ten-year notes, according to people familiar with the matter. The sale adds to a wave of offshore RMB bond deals by Chinese tech firms such as <a href="/company/tencent">Tencent</a> and <a href="/company/baidu">Baidu</a> amid intensifying price competition at home.

<a href="/company/chery">Chery</a> has unveiled a seven-seat “transformable multi-SUV” concept featuring six reconfigurable layouts for varied family uses, including pickup and camper modes. Developed through global user collaboration, the model reflects Chery’s shift toward scenario-based design and is slated for market launch in 2026.

<a href="/company/alibaba">Alibaba</a> has priced its Quark AI glasses at RMB 4,699, with presales beginning October 24 and discounts lowering the cost to RMB 3,999. Shipments will start in December. The company also introduced a new chatbot powered by its Qwen 3 models, expanding its push into consumer-focused <a href="/industry/ai">AI</a> products.

Noetix Robotics has opened preorders for Bumi, described as the world’s first humanoid robot priced below RMB 10,000. The 94-centimeter-tall model features 21 degrees of freedom and can reportedly walk, run, and dance. Built with lightweight composites and in-house components, it drew more than 300 preorders within 20 hours of launch.

China has pledged to boost technological self-reliance and expand its domestic market under its next five-year plan, aiming to shield the economy from foreign pressures. The communique emphasized innovation in semiconductors, <a href="/industry/ai">AI</a>, and advanced manufacturing, alongside efforts to raise consumption and sustain growth.

Nexperia has warned Japanese automotive customers that it may not be able to guarantee chip supply, raising concern over global production risks. Japan’s automaker association said members are working to limit disruption. The notice follows the Dutch government’s takeover of Nexperia from Chinese parent Wingtech amid escalating US-China trade tensions.

<a href="/company/tesla">Tesla</a> is recalling 63,619 Cybertrucks in the US after regulators found a software issue that made the front parking lights too bright, posing a hazard to oncoming drivers. The NHTSA said Tesla issued an over-the-air fix at no cost, following another recall of nearly 13,000 Model 3 and Model Y vehicles.

<a href="/company/bytedance">ByteDance’s</a> Seed team has unveiled Seed3D 1.0, a 3D generative model designed to advance world simulation and embodied intelligence. Built on a diffusion transformer framework, Seed3D can generate high-fidelity geometry, textures, and PBR (physically based rendering) materials from a single image, showing strong performance and compatibility with Nvidia's Isaac Sim.

<a href="/company/honor">Honor</a> chairman Wu Hui said at a company conference that <a href="/industry/ai">AI</a> is reshaping the device ecosystem and driving human-computer interaction through natural language. Describing intelligent agents as a new “super entry point,” he said Honor has invested more than RMB 10 billion in AI R&amp;D.

<a href="/company/huawei">Huawei</a> has launched HarmonyOS 6 in China, introducing direct file transfers between Huawei and Apple devices for the first time. The update, available on more than 90 models including the Mate 70 and Pura 80, adds new <a href="/industry/ai">AI</a> features and agent tools as Huawei works to strengthen its position against Android and iOS.

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