HeyMax quintuples revenue in one year

Nearly half of China’s listed supermarket chains posted losses in 2024, with over 900 store closures as firms scrambled to adapt. While Walmart and Sam’s Club bucked the trend, others launched aggressive overhauls, adopting leaner models and benchmarking top performers to stay competitive.

Once discontinued, peel-apart film is making a comeback in China as Gen Z consumers embrace its rarity and vintage aesthetic. Promoted by celebrities and photo studios, the unpredictable medium now commands steep prices, with some paying over RMB 900 for just three shots, despite expired stock and no option for reshoots.

Meta has reportedly taken a 49% non-voting stake in Scale AI for USD 14.3 billion and brought CEO Alexandr Wang onto its AI team. The move bolsters Meta's "superintelligence" ambitions as it works to close gaps with OpenAI and Google after underwhelming model releases.

Douyin E-commerce has updated its deposit policy to lower onboarding costs, offering zero-deposit entry for new sellers and cutting existing deposit tiers by up to 75%. Deposits apply only after 200 orders or RMB 10,000 in sales, and merchants may now withdraw excess balances on a weekly basis.

Nvidia CEO Jensen Huang said autonomous vehicles, robotics, and machines are set to surge this decade, calling it a defining era for autonomous tech. Speaking at the Viva Technology conference in Paris, Huang noted Nvidia’s role in the space, supplying both hardware and software to players in the sector.

US President Donald Trump said on June 12 that he may raise tariffs on imported cars, arguing that higher rates would encourage automakers to expand US production. He cited recent commitments from GM and Hyundai as evidence the strategy works. Industry players have pushed back, with Ford and Subaru warning of rising costs, while GM has estimated USD 4–5 billion in tariff exposure.

ByteDance and SenseTime have unveiled a new round of AI upgrades. ByteDance launched the Doubao 1.6 series with multimodal reasoning and cut token prices by over 60%, while SenseTime enhanced its chatbot Sensechat with real-time video, audio, and visual reasoning capabilities. The rollout follows recent updates from DeepSeek, Baidu, and Alibaba.

Leapmotor CEO Zhu Jiangming said the company will steer clear of EV price wars, calling recent discounts more promotional than structural. Backed by strong cost control and stable pricing, Leapmotor is targeting 50,000–80,000 overseas sales this year and plans to ramp up local production in Europe. The EV maker is expanding globally, having recently opened its first store in Hong Kong.

Arm CEO Rene Haas warned that US semiconductor export restrictions could stifle global innovation and hurt consumers, while accelerating China’s drive for self-reliance. Speaking in Oxford, Haas echoed Nvidia CEO Jensen Huang’s stance, saying forced decoupling “makes the pie smaller” and poses long-term risks to US industry.

Nvidia CEO Jensen Huang said Huawei is ready to more aggressively support China’s AI ambitions if US chip restrictions persist, warning the company could also serve global markets in the absence of the US. While noting Nvidia’s technology remains “a generation ahead,” Huang repeated his call for policymakers to consider the long-term impact of current policies.