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JD Logistics is expanding in Saudi Arabia, where it has reportedly built a 1,000-person team and launched deliveries in Riyadh. The firm has opened one of the region’s largest automotive parts centers and partnered with a Chinese <a href="/industry/ev">EV</a> brand, aiming to serve the Middle East and North Africa.

<a href="/company/tiktok-shop">TikTok Shop’s</a> full-service launch in Mexico saw GMV surge 208% during its "hot sale" event from May 19 to June 3, with paid orders reportedly rising 63%, marking a strong debut in Latin America. Apparel, electronics, and home goods led category growth.

<a href="/company/byd">BYD</a> has launched the Dolphin Surf, ostensibly its most affordable <a href="/industry/ev">EV</a> to date, in Europe at around USD 25,000, triple the price in China due to tariffs. The debut expands China’s EV price war into global markets, prompting competition from Citroen, Renault, and Dacia. Analysts said falling battery costs could drive prices lower and bring EVs closer to parity with gasoline cars.

Chinese <a href="/industry/ev">EV</a> maker <a href="/company/xpeng">Xpeng Motors</a> has unveiled upgraded G6 and G9 electric SUVs for Europe, featuring 5C LFP batteries and 800V SiC platforms that enable 10–80% charging in just 12 minutes. Both models offer interior upgrades and advanced assisted driving features, with orders opening in mid-July across seven European countries.

On June 11, US President Donald Trump declared a trade deal with China “done,” pending approval from Chinese counterpart Xi Jinping. The agreement would reinstate steep tariffs, with 55% from the US and 10% from China, while restoring rare earth exports and student visa access. Questions remain about enforcement and timing.

<a href="/company/tencent">Tencent</a> is exploring a deal for Nexon and has approached the family of late founder Kim Jung-ju about a potential stake acquisition via NXC Corporation. The move would bolster Tencent’s gaming portfolio, though no agreement has been reached. Nexon's shares surged in Tokyo trading following the report, but the company has yet to comment.

Horizon Robotics plans to raise HKD 4.67 billion through a top-up share placement to support business expansion and R&amp;D. The self-driving chipmaker will sell 681 million shares at HKD 6.93 each, with support from existing investors and placement agents Goldman Sachs, Morgan Stanley, and UBS, amid bullish sentiment in Hong Kong.

Sleek has raised USD 23 million in a Series B funding round led by Ellerston JAADE, with participation from Money Forward. The Singapore-based platform helps SMEs streamline back office operations and will use the funds to scale its technology and expand globally.

Nanjing has launched an action plan to grow its embodied <a href="/industry/ai">AI</a> sector to over RMB 10 billion by 2027. At a June 11 conference, the city unveiled a dedicated industry park and alliance, aiming to support more than 150 companies and scale mass production. The plan includes new R&amp;D hubs, data labs, and pilot deployments in the public sector.

A coalition of US states has sued 23andMe to block the sale of user DNA data without explicit consent. Filed in bankruptcy court, the suit challenges the transfer of genetic profiles linked to over 15 million people as the company moves to sell its assets to Regeneron for USD 256 million. Plaintiffs argue that DNA data is permanent and uniquely sensitive.

Investbanq, a wealth tech platform, has raised USD 3 million in pre-Series A funding from Constructor Capital, Orvel, Big Sky Capital, and other investors. Based in Singapore, the company helps banks and asset managers serve digitally native investors across Asia and the MENA region.

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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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JD Logistics expands Saudi operations

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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