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Meituan’s Q1 2025 revenue rose 18.1% YoY to RMB 86.56 billion, while adjusted net profit jumped 46.2% to RMB 10.95 billion. Core commerce margin impro…

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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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<a href="/company/meituan">Meituan’s</a> Q1 2025 revenue rose 18.1% YoY to RMB 86.56 billion, while adjusted net profit jumped 46.2% to RMB 10.95 billion. Core commerce margin improved to 21%, driven by strong food delivery and the expansion of Instashopping, its dedicated on-demand retail brand. Operating profit more than doubled, and cash holdings reached RMB 115 billion.

On May 27 local time, SpaceX’s Starship reached space in its ninth test flight but failed to deploy mock Starlink satellites and lost its upper stage during reentry. The failure, which ended with debris falling into the Atlantic Ocean, marks a setback for SpaceX’s deep space plans. The company cited a loss of main tank pressure as the cause.

Joby Aviation has closed a USD 250 million investment from Toyota to advance certification and production of its <a href="/industry/evtol">electric air taxis</a>. The funding marks the first tranche of a previously agreed deal and will support plans to scale manufacturing through expanded collaboration.

Brazilian labor prosecutors have sued <a href="/company/byd">BYD</a> and two contractors over alleged trafficking and “slavery-like” conditions for 220 Chinese workers building a factory in Bahia. The suit seeks BRL 257 million in damages and fines. BYD said it respects labor rights and is cooperating with authorities.

Apple will launch a dedicated gaming app across iPhones, iPads, Macs, and Apple TVs, replacing Game Center and adding support for both App Store and third-party titles. Set to debut at WWDC on June 9, the app will centralize achievements, subscriptions, and editorial content ahead of broader iOS updates in September.

Neuralink has raised USD 600 million at a USD 9 billion pre-money valuation, more than doubling its worth from 2023, according to Pitchbook. The final figure exceeds the USD 500 million target previously reported and follows <a href="https://kr-asia.com/all-in-your-head-what-you-should-know-about-neuralink-and-brain-computer-interfaces">chip implants</a> in three patients, including an ALS patient who spoke using the device in a video on X. It is Neuralink’s largest funding round to date.

KKR has reportedly launched its third Asia Pacific infrastructure fund, seeking to exceed the USD 6.4 billion raised by its predecessor in 2024. With a continued focus on energy, utilities, digital infrastructure, and transport across APAC, the new vehicle targets strong demand from existing and new LPs, after posting an 18.6% IRR for the second fund as of end-2024.

<a href="/company/alibaba">Alibaba</a> is considering a sale of bonds exchangeable into ZTO Express shares to trim its 10% stake, which it acquired for USD 1.38 billion in 2018 to boost its <a href="/industry/logistics">logistics</a> services. Talks are reportedly ongoing, and no final decision has been made. The potential deal would echo <a href="/company/baidu">Baidu’s</a> bond sale tied to Trip.com Group earlier this year.

Salesforce has agreed to acquire Informatica for USD 25 per share in cash, valuing the deal at USD 8 billion. The move will bring Informatica's cloud-native data tools into Salesforce's ecosystem to enhance its <a href="/industry/ai">AI</a> stack and expand capabilities in customer data management and automation.

China will deepen reforms in 232 national development zones, which collectively generated RMB 16.9 trillion in GDP and attracted USD 27.2 billion in FDI in 2024. A new plan prioritizes foreign-led projects in semiconductors, biomedicine, and advanced manufacturing, aiming to strengthen global investor engagement and promote higher-quality market access.

<a href="/company/nvidia">Nvidia</a> is expected to report Q1 2025 revenue of USD 43.3 billion, up 66.2% YoY, but faces a USD 5.5 billion charge after US curbs on its H20 chip for China. The company has exited USD 15 billion in China sales and could lose up to USD 4.5 billion per quarter going forward. Adjusted gross margins are forecast to decline by more than 11 percentage points.

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

Artificial Intelligence

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

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Keeta, an independent brand of Meituan, specializes in food and consumer product delivery services.

Keeta

Meituan, China’s all-in-one local services platform, covers food delivery, travel bookings, and lifestyle deals, simplifying daily consumer choices.

Xiaoxiang Supermarket leverages digital channels to deliver groceries and essentials directly to local consumers’ doorsteps.

Xiaoxiang Supermarket

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How does dinner arrive at your door? Study platform partnerships, last-mile delivery, and culinary trends powering the takeaway economy.

Food Delivery

What changes the way we shop? Review fresh inventory management, dark stores, and logistics driving door-to-door grocery services.

Grocery Delivery

How do platforms deliver on immediacy? Analyze ride-hailing, instant deliveries, and gig models meeting consumer needs fast.

On-demand Services

How do stores adapt to digital shifts? Explore e-commerce integration, inventory analytics, and omnichannel strategies for modern shoppers.

Retail

While profits are up, Meituan is bracing for volatility as rivals ramp up discounting and regulators tighten oversight.

Meituan had a strong Q1, but it may be the calm before the subsidy storm

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

New model releases and a revamped AI agent development platform highlight Tencent’s push toward practical, enterprise-focused AI applications.

Tencent doubles down on agentic AI with latest Hunyuan updates

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Meituan's Q1 profit jumps on delivery gains

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

Meituan had a strong Q1, but it may be the calm before the subsidy storm

Tencent doubles down on agentic AI with latest Hunyuan updates