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Miniso has hired JPMorgan and UBS to prepare a Hong Kong IPO for its collectible toy brand Top Toy, sources said. The company is also seeking investme…

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<a href="/company/miniso">Miniso</a> has hired JPMorgan and UBS to prepare a Hong Kong IPO for its collectible toy brand Top Toy, sources said. The company is also seeking investment from sovereign funds ahead of the listing. Top Toy operates 280 stores and is expanding overseas, following rival <a href="/company/pop-mart">Pop Mart’s</a> surge.

<a href="/company/meituan">Meituan</a> plans to launch two to three new drone delivery routes in Dubai in H2 2025, expanding its overseas footprint after <a href="https://kr-asia.com/meituans-drone-delivery-debuts-in-dubai-eyeing-a-future-in-last-mile-logistics">debuting the service there in December 2024</a>. The new routes are expected to operate along the Dubai Marina. Meituan is also adding routes in Hong Kong and Shanghai under its Keeta brand, anticipating that 10–15% of global instant deliveries will eventually go by air.

The Switch 2, Nintendo's follow-up to its hit console, went on sale globally on June 5. Early demand outpaced supply in Japan and China, with US retailers reporting sellouts. Priced at USD 449, it is Nintendo’s most expensive console yet. The company expects to sell 15 million units this fiscal year, though analysts say that may be conservative amid US tariff uncertainty.

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<a href="/company/kuaishou">Kuaishou’s</a> Kling AI surpassed a USD 100 million annualized run rate in March 2025, just ten months after <a href="https://kr-asia.com/kuaishous-kling-ai-video-generator-launches-globally-to-challenge-openais-sora">launch</a>. Monthly subscription bookings topped RMB 100 million in both April and May. The latest Kling AI 2.1 model features enhanced visuals, improved semantic precision, and 1080p support, and now serves over 10,000 global clients.

Chinese <a href="/industry/energy">energy</a> financing in Africa has dropped 85% since 2015, steering the continent toward private capital and clean energy, according to the IEA. Public and DFI funding fell to USD 20 billion in 2024, while private clean energy investment more than doubled to USD 40 billion, led by solar power and <a href="/industry/ev">EVs</a>.

Builder.ai filed for Chapter 7 bankruptcy in Delaware after creditors seized most of its cash. Once valued at USD 1.5 billion, the Microsoft-backed firm had overstated 2024 sales by 300% and was linked to alleged fictitious deals with VerSe. Despite a board shakeup and audit, the startup collapsed after raising USD 450 million. Its founder stepped down in February.

Chinese President Xi Jinping and US President Donald Trump spoke by phone on June 5 and reaffirmed their commitment to the Geneva trade agreement. Xi called for steady leadership and urged the US to lift punitive measures, while Trump voiced support for deeper engagement. Both sides agreed to hold another round of talks soon.

Coinbase CEO Brian Armstrong plans to fund a startup focused on gene editing in human embryos, a first for the private sector in a field long shaped by <a href="https://www.science.org/content/article/crispr-bombshell-chinese-researcher-claims-have-created-gene-edited-twins">the CRISPR controversy</a>. He is recruiting scientists to apply base editing, a DNA-altering method considered more precise than earlier tools, to target genetic disease. The effort may test legal and ethical limits in the US.

FountainVest Partners plans to sell half its stake in Amer Sports for about USD 1.3 billion, reducing its holdings to 6.2%. The Chinese firm joined Anta, <a href="/company/tencent">Tencent</a>, and Chip Wilson in the 2018 acquisition. In Q1 2025, Amer’s revenue rose 23% YoY to USD 1.47 billion. Arc'teryx was a key driver, generating over USD 2 billion in 2024 sales.

<a href="/company/meituan">Meituan’s</a> Dianping app has launched a “premium delivery” feature in cities like Guangzhou and Shenzhen, showcasing top-rated, licensed vendors across six categories. Orders are completed in-app, with daily vouchers offered to boost usage. The update leverages Dianping’s review data to build a closed content-commerce loop.

Talent New Energy has unveiled its "cold core" battery technology to improve fast charging and thermal management in cylindrical <a href="/industry/ev">EV</a> cells. Its 4695 and 50190 series support 6C charging, reaching 80% charge in nine minutes, and operate across extreme temperatures, addressing limitations of the cylindrical format.

How does automation advance industry? Analyze robotic arms, drones, and AI-driven tools reshaping manufacturing and services.

The startup is building bots that prioritize emotional presence over technical perfection, hoping that’s what wins over families.

Joyin races to rewire homes with emotionally aware robots

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The Chinese firm hopes its “cold core” architecture will reshape expectations for the 4680 form factor.

Can cylindrical EV batteries make a comeback? Talent New Energy thinks so

The Shandong-born chain is expanding beyond its home turf, betting that supply chain depth and value pricing can win over diners nationwide.

Top Toy gears up for Hong Kong IPO

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Joyin races to rewire homes with emotionally aware robots

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