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Alibaba-backed Cainiao has expanded its logistics network in Spain and Portugal, adding parcel collection in Lisbon and five Spanish cities. Its Iberi…

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Alibaba-backed <a href="/company/cainiao">Cainiao</a> has expanded its logistics network in Spain and Portugal, adding parcel collection in Lisbon and five Spanish cities. Its Iberian operations now span 11 cities, with 61 last-mile stations reaching 88% of Spain’s population. Next-day delivery is available in 36 cities, as Cainiao deepens local service for e-commerce sellers.

Shares of China’s largest drugmaker, Hengrui Pharmaceuticals, opened 29% higher in its Hong Kong debut after raising HKD 9.9 billion, making it one of the year’s largest listings. The proceeds will support its global R&amp;D in oncology, cardiometabolic, and neurological drugs, as the firm seeks its first overseas approvals. The IPO adds momentum to Hong Kong’s rebounding capital markets.

Hong Kong has passed a law requiring fiat-backed stablecoin issuers to obtain licenses and meet reserve and asset segregation rules, expanding its crypto regime beyond existing virtual asset regulations. Set to take effect this year, the policy aligns Hong Kong with global efforts to legitimize stablecoins and promote secure, regulated digital finance.

Singapore's Kind Kones has raised more funds in a Series A extension round backed by Epic Angels and other F&amp;B-focused investors. The company, which makes dairy-free frozen desserts, plans to scale across Southeast Asia and Dubai through a mix of franchised and owned outlets.

DeepRoute.ai CEO Maxwell Zhou said <a href="/company/tesla">Tesla</a> remains ahead in <a href="/industry/autonomous-vehicles">autonomous driving AI</a>, though “Chinese companies are catching up real quick.” He attributed the US lead to a deeper AI talent pool, while highlighting China’s manufacturing strength. Zhou said DeepRoute.ai is exploring OEM partnerships as part of its expansion but did not name specific firms or regions.

Amap has launched full ride-hailing services in its English-language app, enabling international users in more than half of China’s cities to book rides, view fares, and navigate pickup points in English. The rollout aims to boost the app’s appeal among foreign travelers and residents.

L’Oreal has taken a minority stake in Chinese biotech firm Veminsyn to co-develop sustainable bioactive ingredients for cosmetics. Backed by L'Oreal's BOLD fund and China’s Meicifang Investment, the partnership will harness Veminsyn’s molecular design and biomanufacturing capabilities to advance sustainable and open innovation.

Singapore-based cancer diagnostics firm MiRXES has listed on the Hong Kong Stock Exchange, with shares jumping 24.5% above the HKD 23.3 offer price on debut. The stock was trading at HKD 30 as of 3:00 p.m. local time. The company plans to use most of the IPO proceeds to fund R&amp;D and commercialize its early cancer detection solutions.

Chinese researchers led by Microquanta Semiconductor have developed a 3D laminar flow coating technique that enables stable, high-yield production of perovskite solar panels at near-square-meter scale. The method improves crystallization, reduces defects, and enhances durability. A 500 kW pilot station using the tech reportedly outperformed silicon modules by over 30% in output under hot weather conditions.

Sany Heavy Industry has submitted a listing application to the Hong Kong Stock Exchange, naming CLSA as overall coordinator. No securities are currently being offered and that regulatory approval is pending. Final terms, including offer size and timetable, will be disclosed in a prospectus if the application proceeds.

Apple plans to launch smart glasses by late 2026, featuring cameras, microphones, and Siri integration, as it steps up its AI hardware push. The company has shelved plans for a camera-equipped smartwatch and is accelerating chip production for the glasses. The move comes as Apple races to catch up with Meta and others in the wearables market.

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With the YU7, Xiaomi seeks not only redemption, but a shot at surpassing Tesla.

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With clients like BYD and Ecovacs, the Shenzhen-based firm says its purpose-built tightening robots can outperform generic systems.

Cainiao expands last-mile delivery in Iberia

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