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PDD Holdings reported Q1 2025 revenue of RMB 95.7 billion, up 10% YoY, driven by gains in online marketing and transaction services. However, net inco…

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<a href="/company/pinduoduo">PDD Holdings</a> reported Q1 2025 revenue of RMB 95.7 billion, up 10% YoY, driven by gains in online marketing and transaction services. However, net income fell 47% to RMB 14.7 billion, and non-GAAP profit declined 45% as the company increased spending to support merchants amid market uncertainty.

Zhuhai has launched a state-backed tech firm and RMB 600 million in subsidies to boost its AI and robotics sectors. The package includes vouchers covering up to 50% of computing costs and 30% of large model usage fees. Two new initiatives were also introduced to support startups and integrate industrial resources.

Shein is preparing to file for a Hong Kong IPO after failing to secure Chinese approval for its London listing, despite clearance from UK regulators. The fast fashion retailer is expected to submit a draft prospectus in the coming weeks. Regulatory sensitivities, supply chain scrutiny, and tariff changes reportedly prompted the venue shift.

Chinese <a href="/industry/ev">EV</a> maker <a href="/company/byd">BYD</a> plans to roll out its DiPilot smart driving system (also known as “God’s Eye”) to overseas markets, starting with Singapore. The launch, expected by next year, will comprise features like adaptive cruise, automated parking, and remote control, with deployment staggered based on each market’s regulatory and technical readiness.

<a href="/company/bytedance">ByteDance</a> has added real-time video calling to its Doubao chatbot, letting users activate their phone camera during voice calls for live AI assistance. Powered by a visual reasoning model, the feature enables Doubao to interpret scenes, respond to queries, and retrieve real-time information.

<a href="/company/bytedance">ByteDance</a> will ban third-party <a href="/industry/ai">AI</a> coding tools such as Cursor and Windsurf starting June 30, citing data leak risks. Developers have been instructed to switch to Trae, its in-house IDE powered by the Doubao 1.5 Pro model. The move follows a company-wide directive to tighten internal data safeguards.

China's CGN has fully connected a 400MW offshore solar project in Laizhou Bay, Shandong. Touted as one of the largest fully operational projects of its kind to date, the site spans 500 hectares and features custom anti-corrosion modules as well as a new piling vessel designed to endure challenging marine conditions.

<a href="/company/douyin">Douyin</a> unveiled a new governance framework for managing viral content and trending topics, combining <a href="/industry/ai">AI</a> tools and human review for fact-checking, identity verification, and limits on monetization by involved accounts. Disputed posts will be labeled, with support from media and authorities to ensure factual accuracy.

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.

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A flash of Douyin fame sparked the brand, but Vivicycle’s ambitions extend well beyond live stream buzz.

Vivicycle taps women’s sportswear gap with first store in Hangzhou

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What powers digital devices? Delve into chip design, manufacturing bottlenecks, and semiconductor breakthroughs fueling global electronics.

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After a scrapped 2023 attempt, Zhuohai is back with a listing plan, this time on the Beijing Stock Exchange.

PDD's Q1 profit drops 47% on higher spending

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