Baidu launches B2B AI video tool

Edgnex, a unit of Dubai’s Damac Group, will invest USD 2.3 billion in a 144 MW data center in Jakarta, Indonesia, with operations expected to begin later this year. The project is part of Edgnex’s USD 20 billion global AI infrastructure push, including more than USD 3 billion committed to Southeast Asia.

Pop Mart is expanding its IP tied to "Crybaby," a character by Thai artist Molly Yllom, with new trademark filings across education, beverages, and machinery, with some approvals already granted, according to Aiqicha. The company also registered the script copyright for the first season of a Labubu animated series.

Unitree Robotics, a Chinese maker of quadruped and humanoid robots, has raised new funding from top tech investors including Alibaba (and its affiliate Ant Group), Tencent, China Mobile, Geely, and ByteDance-linked Jinqiu Capital, pushing its valuation past RMB 10 billion. The company is expanding globally and considering a Hong Kong listing.

Sanhua Intelligent Controls, a major Chinese supplier of refrigeration and air conditioning components, dropped 7% in its Hong Kong trading debut on June 23, despite backing from Jane Street Group, GIC, and Schroders. The company raised HKD 9.3 billion in a top-of-range offering and plans to invest in robotics R&D, including bionic actuators, as revenue growth slows.

A Pop Mart restock of its popular Labubu collectibles drove down resale prices, fueling speculation about softening demand. The company’s shares fell around 6% on June 17 and dipped again on June 20, though the declines may partly reflect broader market volatility.

From May 13 to June 18, over 60,000 brands on Douyin E-commerce saw YoY sales double during the 618 festival, with more than 2,000 products exceeding RMB 10 million in GMV. Live streams drove around half of total sales. Among merchants with live stream GMV above RMB 10 million, nearly 70% used store-operated streams.

Huawei Cloud unveiled its CloudRobo platform at its developer conference on June 20, reportedly offering embodied AI capabilities built on the Pangu model. The system supports multimodal data generation, complex planning, and millimeter-level execution, targeting use cases from automotive assembly to semiconductor logistics.

Baidu plans to launch its Apollo Go robotaxi service in Singapore and Malaysia as early as this year, seeking local partners for an asset-light model. The service has logged 11 million rides, reportedly surpassing Waymo, and is also exploring markets including Turkey and Switzerland.

China-based Unisound is offering 1.561 million shares in a Hong Kong IPO running June 20–25, with shares priced at HKD 165–205 each. Trading is set to begin June 30. The firm develops AI tools for healthcare, among other use cases, powered by a 60-billion-parameter model and Atlas AI infrastructure.

Alibaba's internal forums lit up after Yuan An, DingTalk’s former product lead and a 15-year veteran, resigned and shared an exit memo lamenting lost values, missed tech shifts, and bureaucratic inertia. His reflections reportedly struck a nerve across China’s tech sector, where concerns over stagnation and “big company disease” continue to grow.