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Accounting software firm Xero will acquire Melio Payments for up to USD 2.5 billion in its largest deal to date, aiming to accelerate growth in the US…

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CHENG Zi is based in China, covering technology and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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Accounting software firm Xero will acquire Melio Payments for up to USD 2.5 billion in its largest deal to date, aiming to accelerate growth in the US and expand services for small businesses. The cash-and-stock transaction includes USD 500 million in potential earnouts, with Melio’s CEO set to lead the US operations.

<a href="/company/lenovo">Lenovo</a> has upgraded its "Hybrid AI Advantage" platform, boosting infrastructure, lifecycle services, and global partner integration to support scalable <a href="/industry/ai">AI</a> deployment across industries. The company reported a 40% YoY rise in enterprise AI adoption, with some clients seeing a 31% increase in efficiency.

WeChat mini games saw PC usage climb 55% over the past year, fueling a 40% expansion in commercial scale and a threefold increase in paid user acquisition. Livestream watch time rose 54%, and short video views grew 22%. Over 300 titles reportedly surpassed RMB 10 million in quarterly revenue, with nearly 70 reaching 1 million DAUs.

Yonghui Superstores said it aims to complete upgrades at 200 locations by September 30, doubling its previous pace. The overhaul will focus on employee training and private-label product development, with store relaunches expected daily throughout Q3. The company has completed over 100 remodels since launching the effort in May 2023.

A Chinese team led by Nankai University has completed what it calls the world’s first human trial of a brain-computer interface implanted via blood vessels, helping a paralyzed patient regain limb movement. Unlike Neuralink’s open-skull approach, the method reportedly reduces risk and shortens recovery time.

Prices for drone parts shipped from China to the US have surged as much as fourfold since Beijing imposed export controls on dual-use technologies in 2024, customs data shows. Infrared device exports to the US fell 60%, inertial sensor exports dropped 90%, and sales to Russia climbed, signaling a shift in global drone supply chains.

<a href="/company/iflytek">iFlytek</a> has launched a suite of <a href="/industry/ai">AI</a> products in Hong Kong, including a medical chatbot and multilingual transcription tools, while establishing the city as its international headquarters. The company said Hong Kong will anchor its global expansion and emphasized its reliance on domestic chip infrastructure amid US tech restrictions.

<a href="/company/bilibili">Bilibili</a> has launched an AI-powered feature on its marketing platform that helps brands match with content creators based on campaign goals, budget, and audience profiles. The tool analyzes creator data and generates recommendations in about three minutes, with usage limits based on account spend history.

Tims China, operator of the Tim Hortons chain in China, narrowed its Q1 2025 net loss to RMB 58.9 million as cost cuts lifted store-level margins to 6.7%. Revenue fell 9.5% due to closures and lower same-store sales, but system sales rose 3.5% YoY and loyalty memberships grew 26%. Adjusted EBITDA loss was nearly halved.

<a href="/company/alibaba">Alibaba Cloud</a> will expand access to its Qwen <a href="/industry/ai">AI</a> models and Model Studio platform through international data centers this year, senior vice president Liu Weiguang said. The move supports growing global demand and is part of a RMB 380 billion investment to scale Alibaba’s cloud and AI infrastructure.

Standard Robots has filed for a Hong Kong IPO with joint sponsors CITIC Securities and Guotai Junan International. Founded in 2016 in Wuxi, the company specializes in <a href="/industry/robotics">robotics</a> and <a href="/industry/ai">AI</a> software, and is backed by investors including <a href="/company/xiaomi">Xiaomi</a>, Broad Vision Funds, and China Capital Management.

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Founder Wu Dezhou says depth in niche markets matters more than mass appeal when building consumer wearables.

The Garmin of AI glasses? ARknovv’s smart specs are built for athletes, not the masses

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With over 150 stores and renewed profitability, boutique coffee chain Algebraist Coffee is staying selective and staying in the game.

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A price reset and a hard push on Douyin and Pinduoduo fueled Three Squirrels’ turnaround, driving sales back to their 2019 highs.

Xero to acquire Melio for up to USD 2.5 billion

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The Garmin of AI glasses? ARknovv’s smart specs are built for athletes, not the masses

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