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China’s BrainCo is in talks to raise USD 100 million at a valuation above USD 1.3 billion ahead of a potential IPO in Hong Kong or mainland China. The…

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China’s BrainCo is in talks to raise USD 100 million at a valuation above USD 1.3 billion ahead of a potential IPO in Hong Kong or mainland China. The Hangzhou-based startup develops brain-computer interface technology and is positioning itself as a rival to Neuralink.

Taobao will launch a unified membership program that bundles services and perks from Ele.me, Fliggy, and Hema, expanding 88VIP into a comprehensive lifestyle offering. The move reflects <a href="/company/alibaba">Alibaba’s</a> strategy to evolve from <a href="/industry/e-commerce">e-commerce</a> into a broader consumer platform.

<a href="/company/tencent">Tencent</a> has co-led a USD 65.5 million funding round in Uzbekistan-based startup Uzum, pushing its valuation to USD 1.5 billion. The deal marks Tencent’s entry into Central Asia’s digital economy as Uzum scales its <a href="/industry/fintech">fintech</a> and <a href="/industry/e-commerce">e-commerce</a> services and prepares for a larger Series B round in 2026.

<a href="/company/geely">Geely</a> is reportedly in talks to merge autonomous driving teams from Zeekr, its R&amp;D arm, and Megvii’s Mach unit into a joint venture established in June. The move aligns with Geely’s strategy to centralize smart driving R&amp;D and deploy a unified system across its brands.

WeRide has begun night-time robotaxi testing in Beijing, operating from 10 p.m. to 7 a.m. under a new city permit. The Nasdaq-listed firm aims to build a round-the-clock autonomous mobility network, using a full sensor suite and proprietary tech to ensure safety in low light and adverse weather.

<a href="/company/alibaba">Alibaba's</a> Hema will close its final X membership store in Shanghai on August 31, ending its foray into the warehouse club model launched in 2020. The move reflects a companywide pivot toward core formats Hema Fresh and NB, which are set to add nearly 100 new stores in fiscal year 2025.

Chinese fitness app Keep is expecting RMB 10 million in adjusted net profit for H1 2025, with founder Wang Ning calling it “sustained profitability” after cutting unproductive growth. He said Keep will fully pivot to AI, aiming to preempt disruption by building the next-gen fitness product itself.

PingPong will support Wero, Europe’s new unified payment app, starting October. Backed by 16 banks, Wero enables real-time cross-border payments using a phone number or email and targets 250 million users. PingPong clients will gain access to EU retail, point-of-sale, and subscription payments through a single system.

<a href="/company/tesla">Tesla’s</a> US customer loyalty reportedly plunged from 73% in June 2024 to 49.9% by March 2025, following Elon Musk’s endorsement of Donald Trump and rising political engagement. S&amp;P data shows Tesla has slipped from top in loyalty to industry average, as rivals gain ground and <a href="/industry/ev">EV</a> competition intensifies.

China’s plastic exports surged in H1 2025, with volumes doubling in some resins and prices falling by as much as 20%. Amid weak domestic demand, China ramped up shipments of PVC, polystyrene, and polypropylene, putting pressure on regional producers. Japan’s imports rose sharply as Chinese supply rippled through Asian markets.

Beijing’s E-Town is hosting a <a href="/industry/robotics">robot</a> shopping festival through August 17, offering subsidies of up to RMB 250,000 for buyers. Featuring 63 brands including Unitree and UBTech, among others, the event includes the launch of a new robot store and over 680 models available via JD.com. It follows a national surge in robot production in H1 2025.

These three Chinese robotics firms are tapping public markets to bankroll their next phase of international growth.

China’s industrial robot makers turn to IPOs to gear up for global expansion

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China’s tech ecosystem serves as a driving force behind the world’s second largest economy, influencing global digital markets.

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China’s industrial robot makers turn to IPOs to gear up for global expansion

Thinking out of the box: How Quin broke open a stagnant printer market

JD and Tencent want to power robots, not build them, at least for now