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Weibo’s net income rose 117% YoY in Q1 2025 to USD 107 million, driven by lower marketing costs and steady revenue. AI-powered search tools saw broade…

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Weibo’s net income rose 117% YoY in Q1 2025 to USD 107 million, driven by lower marketing costs and steady revenue. AI-powered search tools saw broader adoption, while ad spend from Alibaba nearly doubled amid new product promotions. Total revenue was flat at USD 397 million, with gains in value-added services offsetting weaker non-Alibaba ad sales.

<a href="/company/xpeng">Xpeng</a> expects Q2 2025 deliveries of up to 108,000 units, a 257.5% YoY increase, and aims to turn profitable by Q4. The EV maker will roll out its self-developed Turing chip in Q3 and debut a humanoid robot in 2026. These are part of Xpeng's broader strategy to build a full-stack AI platform spanning autonomous driving, intelligent cockpits, and robotics.

Shouguang, China’s “vegetable capital,” will co-invest USD 33 million with UAE firm Silal to build a 100,000-square-meter smart agriculture center in Abu Dhabi. Tied to the Belt and Road Initiative, the project will deploy AI, robotics, and solar greenhouses to grow crops like tomatoes and melons in desert conditions, expanding China’s agritech footprint in the Middle East.

EV battery giant <a href="/company/catl">CATL</a> is incentivizing suppliers to cut emissions as it targets carbon neutrality in core operations this year and across its supply chain by 2035. Scope 3 emissions made up 95% of CATL’s 2024 carbon footprint, driven by raw materials and energy-intensive production. The firm is offering technical support and prioritizing ESG-compliant partners.

<a href="/company/openai">OpenAI</a> will acquire io, an AI hardware startup co-founded by Apple veteran Jony Ive, in a USD 6.5 billion all-stock deal. The move brings in a team of Apple alumni and positions OpenAI to launch AI-native consumer devices starting in 2026. Ive’s design firm LoveFrom will lead hardware and software design as OpenAI expands beyond apps.

Airwallex has raised USD 300 million in Series F funding at a USD 6.2 billion valuation to fuel global expansion and reach USD 1 billion in annualized revenue this year. Investors include Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, Visa Ventures, and Australian pension funds. USD 150 million came from secondary share transfers.

The US Department of Commerce plans to impose up to 721% in tariffs on Chinese graphite used in lithium-ion battery anodes, citing unfair subsidies. The move follows a trade case led by US producers and aims to boost domestic supply chains. Final rulings, including potential anti-dumping duties, are expected by December and could escalate trade tensions.

EHang expects to launch flying taxi services in Guangzhou and Hefei this year and sees China enabling fixed-route air shuttles by 2030. Certified by China’s aviation regulator for autonomous eVTOL aircraft, the firm is running city trials, scaling production, and plans to unveil upgraded aircraft and new battery technology later this year amid rising global interest.

<a href="/company/nvidia">Nvidia</a> CEO Jensen Huang warned that US chip export controls are a “failure” that undermine national tech competitiveness. He said the restrictions have halved Nvidia’s China market share and spurred Beijing to accelerate AI chip development. Speaking at Computex, Huang said the curbs may hurt US firms more than China and risk ceding leadership in the AI race.

<p data-pm-slice="1 1 []"><a href="/company/tiktok">TikTok</a> warned US <a href="/industry/e-commerce">e-commerce</a> staff of imminent job cuts in a memo from new division head Mu Qing, who cited plans to streamline operations. Employees were told to work from home and expect personnel changes starting May 23. The move comes amid mounting political pressure, leadership shifts, and uncertainty over TikTok’s future in the US market.</p>

LexinFintech reported Q1 2025 net income of RMB 430 million, up 113% YoY. Revenue fell 4% to RMB 3.1 billion, as loan services declined, but income from tech and e-commerce solutions rose sharply. The company said it cut costs, improved asset quality, and has raised its dividend payout ratio to 30% starting in H2 2025.

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The fintech firm is betting on global expansion and AI-driven financial infrastructure to anchor its next phase of growth.

Airwallex raises USD 300 million, eyes IPO readiness and AI-led finance

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As China grapples with a surge in retired EV batteries, Eagoal is leaning on predictive tools and clean chemistry to lead the way.

As EV batteries retire, recyclers like Eagoal race to scale and standardize

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US-China trade war truce: 5 things to know

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Weibo's profit more than doubles in Q1

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