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Deals in brief: Atome secures USD 75 million facility, Sam Altman backs Coco Robotics again, 12 new China deals, and more

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AliExpress is piloting car sales in the Middle East as part of its global 618 campaign, offering <a href="/industry/ev">EVs</a> from <a href="/company/byd">BYD</a>, <a href="/company/xiaomi">Xiaomi</a>, and others under its subsidy-backed export program. The move extends Alibaba’s cross-border strategy beyond automotive parts, tapping into demand for Chinese-made vehicles overseas.

<a href="/company/bytedance">ByteDance's</a> Douyin has launched a crackdown on merchants and content creators over false marketing after uncovering serious violations, including suspected organized fraud. Penalties include live stream bans, frozen payouts, and store removals, with regular audits planned as the platform steps up enforcement to protect consumer trust.

Samsung and <a href="/company/nvidia">Nvidia</a> will take minority stakes in Skild AI, a <a href="/industry/robotics">robotics</a> software startup, as part of a USD 100 million Series B funding round led by SoftBank. The round values Skild at USD 4.5 billion, with Samsung investing USD 10 million and Nvidia committing USD 25 million.

Chinese investment bank CICC forecasts long-term market potential exceeding RMB 1 trillion for <a href="/industry/robotics">humanoid robots</a>, which it sees as the leading form of embodied intelligence. Growth is expected to be driven by advances in actuators, sensors, and <a href="/industry/ai">AI</a> models, though challenges remain in cost control, data quality, and software convergence.

Fidelity-backed VC firm Eight Roads plans to exit its China tech portfolio, offloading stakes in about 40 companies, potentially at discounts of 60–80%. The move comes amid escalating trade tensions and will see the firm shift its focus to managing legacy holdings and investing in healthcare in China, ending its chapter as a backer of Chinese internet firms.

<a href="/company/nvidia">Nvidia</a> has unveiled cBottle, a new <a href="/industry/ai">AI</a> model that compresses decades of atmospheric data to deliver five-kilometer-resolution climate simulations at unprecedented speed and scale. Developed under its Earth-2 platform, officials and researchers say it could transform forecasting accuracy and cost, though its broader societal impact remains uncertain.

China’s alcohol market is shrinking under pressure from official drinking bans, economic slowdown, and generational shifts in taste. To adapt, brands like Kweichow Moutai and Bud APAC are revising prices, with average canned cocktail prices dropping from RMB 13 in 2022 to under RMB 10, and targeting younger consumers with more novel offerings.

<a href="/company/xpeng">Xpeng Motors</a> has officially launched the G7 SUV, its first vehicle powered by the <a href="https://kr-asia.com/xpengs-turing-ai-chip-nears-mass-production-takes-aim-at-nvidia">proprietary Turing chip</a>, marking a shift away from <a href="/company/nvidia">Nvidia’s</a> semiconductors. CEO He Xiaopeng said the in-house chip delivers Level 3 computing power (distinct from Level 3 autonomous driving) and offers performance reportedly triple that of Nvidia’s Orin, as Xpeng eyes future <a href="/industry/ai">AI</a> applications such as <a href="/industry/robotics">humanoid robots</a> and <a href="/industry/evtol">flying cars</a>.

China’s AG600 “Kunlong” amphibious aircraft has entered mass production after receiving certification from the country’s civil aviation authority. Developed by AVIC, the 60-ton aircraft is touted as the world’s largest of its kind by takeoff weight and is designed for firefighting and emergency rescue missions.

Sam Altman and his brother Max have reupped their investment in Coco Robotics, which has raised USD 80 million to expand its autonomous delivery fleet. Returning investors include Pelion, Outlander, and SNR, with new backing from Offline, DeepWater, and Saltwater CEO Ryan Graves. Coco has completed over 500,000 deliveries and is planning a major rollout this year.

China said it is ready to remove tariffs for 53 African countries with which it has diplomatic ties, expanding its zero-tariff policy amid trade tensions. The move comes as the US trade program with Africa faces uncertainty and new US tariffs could reach rates of up to 50%.

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Laifen is sinking serious money into shavers, wagering that innovation will help it trump incumbents like Philips and Braun.

After hair dryers, Laifen targets the other side of bathroom counters with a shaver built from scratch

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Discount coffee, hotels thrive in China&#8217;s penny-pinching economy

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AliExpress begins selling EVs abroad

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Deals in brief: Atome secures USD 75 million facility, Sam Altman backs Coco Robotics again, 12 new China deals, and more

After hair dryers, Laifen targets the other side of bathroom counters with a shaver built from scratch

Discount coffee, hotels thrive in China’s penny-pinching economy