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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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Cheng Zi is based in China, covering technology- and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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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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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/alibaba">Alibaba</a>, <a href="/company/tencent">Tencent</a>, <a href="/company/bytedance">ByteDance,</a> and <a href="/company/baidu">Baidu</a> are projected to invest a combined USD 84 billion in <a href="/industry/ai">AI</a> infrastructure in 2027, up 60% from 2025, according to Goldman Sachs. Data centers and AI agents account for much of the planned outlays, as the companies expand capacity despite mounting pressure on margins from higher upfront costs.

<a href="/company/tencent">Tencent</a> has introduced a ClawBot plug-in on WeChat, enabling its users to control OpenClaw <a href="/industry/ai">AI</a> agents within the app. The rollout expands Tencent's agentic ecosystem after similar integrations on QQ and WeCom, and comes as Chinese cybersecurity bodies issue guidance on security assessments and usage risks.

Sinopec reported a 36.8% YoY decline in 2025 net profit to RMB 31.8 billion, citing rising new energy substitution and weak petrochemical margins. Refinery throughput slipped 0.8% to 250.33 million tons, while gasoline and diesel output fell 2.4% and 9.1%, respectively. The company plans 2026 capital expenditure of RMB 131.6–148.6 billion.

<a href="/company/dji">DJI</a> has filed a patent infringement lawsuit against <a href="/company/insta360">Insta360</a> in Shenzhen, involving six patents related to drone flight control, structure, and image processing. The legal action comes three days before DJI's launch of its first 360-degree drone. Insta360's CEO said the disputed innovations were developed internally and rejected the allegations.

Jiuzi Holdings expects to deliver an initial batch of more than 100 electric heavy-duty trucks to Vietnam after reaching cooperation intentions with several local customers. The company sees Vietnam as a hub for its Southeast Asia expansion and plans to establish local sales and after-sales service networks, while exploring further growth in Indonesia, Thailand, and Malaysia.

Berkshire Hathaway plans to acquire a 2.5% stake in Tokio Marine Holdings for USD 1.8 billion via its reinsurance arm National Indemnity, the Japanese insurer said. The partnership includes reinsurance collaboration and potential acquisitions, with National Indemnity joining Tokio Marine’s reinsurance panel. The stake cannot exceed 9.9% without board approval.

Sony Group is nearing a binding agreement to sell a majority stake in its home entertainment business to TCL Electronics in a deal valued at about USD 1 billion, according to people familiar with the matter. The companies previously outlined a joint venture with TCL holding 51% and Sony 49%, set to begin operations in April 2027. No final decision has been made.

Indonesia is targeting savings of IDR 80 trillion to offset the impact of surging oil prices tied to the Middle East conflict, the presidency confirmed on March 23. The government is weighing measures to curb fuel consumption, including a weekly remote work day for some public workers, while maintaining fuel subsidies and its USD 19.7 billion free meals program.

Malaysia is seeking alternative energy suppliers after Iran closed the Strait of Hormuz, a route through which about 50% of its oil supply passes, Prime Minister Anwar Ibrahim said. Petronas is said to be preparing contingency plans and assessing options including Australia and other Asia Pacific countries, as fuel subsidies rise to MYR 3.2 billion a month.

Ant Health and Meinian Onehealth have agreed to a partnership to advance <a href="/industry/ai">AI</a>-driven healthcare and medical services. Meinian will contribute its nationwide screening centers and health data, while Ant Health will leverage its platform to connect online consultations with offline testing and follow-up care.

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After two years of stabilization, the sportswear company is again weighing expansion.

Li-Ning eyes a new growth cycle amid strong results and Olympic momentum

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How do we store tomorrow’s power? Evaluate battery R&amp;D, manufacturing progress, and recycling strategies fueling energy independence.

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South Korean players have lost ground after betting on the US market.

China's EV battery makers widen lead to over 70% global share

China&#8217;s EV battery makers widen lead to over 70% global share

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

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Heavy investment is pushing the firm to make the case for AI in games, even as the earnings impact remains unclear.

Pop Mart early backer sells entire stake

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Li-Ning eyes a new growth cycle amid strong results and Olympic momentum

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