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<a href="/company/xiaomi">Xiaomi</a> has named Liu Shequan as general manager for Africa and head of West Africa, alongside four new regional and functional appointments. The changes come as Xiaomi expands across 16 African countries and posts 38% sales growth in 2024, lifting its market share to 11%, close behind Transsion and Samsung.

Apple is testing Douyin Pay as a new payment option on its China app store, local media reported. If implemented, the <a href="/company/bytedance">ByteDance</a>-owned service would join Alipay, WeChat Pay, and UnionPay as a supported platform, expanding user choice in China’s mobile payments ecosystem.

<a href="/company/lenovo">Lenovo’s</a> net income rose 108% to USD 505 million in Q2 2025, beating estimates as firms rushed PC purchases ahead of potential US tariffs. Revenue reached USD 18.8 billion, with PC shipments up 15% YoY. Analysts warn new trade measures may weigh on sales later this year.

<a href="/company/tencent">Tencent</a> said it doesn't have a definitive answer on US <a href="/industry/ai">AI</a> chip import rules as talks between Beijing and Washington continue, but confirmed it has enough inventory to support ongoing AI training and service deployment. President Martin Lau said the company is closely monitoring developments.

Momenta has powered on its first in-house chip for assisted driving and begun vehicle testing. Designed to rival <a href="/company/nvidia">Nvidia’s</a> Orin X and Qualcomm’s 8650, the chip aims to simplify integration and cut costs. With over 300,000 vehicles running its systems and global programs advancing via partners like IM Motors and Uber, Momenta is moving toward scaled deployment and a potential IPO.

Nibertex, a Singapore-headquartered textile membrane manufacturer, has raised USD 7 million in a Series A funding round led by TNB Aura, with participation from Asian Development Bank, Faircrest Holding, and Foxmont Capital Partners. Its technology produces PFAS-free waterproof, breathable membranes. The funds will support manufacturing in the Philippines, R&amp;D, and customer acquisition.

Prefer, a Singapore-based food tech startup, has raised USD 4.2 million in an oversubscribed funding round co-led by At One Ventures and Chancery Hill Capital, with participation from Forge Ventures. The raise coincides with the launch of its soluble coffee and cocoa powders, made from food byproducts like rice and soy using proprietary processes that reduce emissions.

Naluri, a Singapore-based digital employee health and wellbeing provider, has raised USD 5 million in funding led by Telus Global Ventures’ Pollinator Fund for Good, with participation from Sumitomo Corporation Equity Asia, M Venture Partners, and unnamed investors. The raise is part of a broader USD 14 million Series B round and will support working capital, market expansion, and a new commercial partnership.

<a href="/company/kuaishou">Kuaishou</a> has no plans to fully enter self-operated <a href="/industry/e-commerce">e-commerce</a>, a person familiar with the matter said, after speculation arose from the online listing of a branded flagship store. Products are said to be sold and shipped by partner merchants. The platform remains focused on improving supply and merchant operations amid slowing GMV growth.

<a href="/company/tencent">Tencent’s</a> Q2 2025 revenue rose 15% YoY to RMB 184.5 billion, while non-IFRS operating profit climbed 18% to RMB 69.2 billion. <a href="/industry/ai">AI</a>-driven gains across <a href="/industry/gaming">gaming</a>, advertising, and <a href="/industry/fintech">fintech</a> fueled growth. Titles like Honor of Kings and Delta Force led engagement, while ad revenue jumped 20% on improved targeting tools.

Iluvatar CoreX is weighing a Hong Kong IPO that could raise USD 300–400 million, according to sources. Backed by Centurium Capital, the chipmaker is gaining traction as Beijing pushes firms to reduce reliance on <a href="/company/nvidia">Nvidia</a>. Discussions are preliminary, and deal terms may still change.

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Deals with IM Motors and Uber are already in place as the company ramps up its international rollout.

From China to Europe, Momenta pairs new chip with global assisted driving push

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From China to Europe, Momenta pairs new chip with global assisted driving push

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