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<a href="/company/alibaba">Alibaba</a> and <a href="/company/ant-group">Ant Group</a> have reportedly unified 22 business units, including Taobao, Alipay, and Ele.me, to improve delivery rider welfare and take on <a href="/company/meituan">Meituan</a> in the quick commerce market. Under a new "City Riders" system, workers will get upgraded uniforms, broader insurance, and expanded social support for healthcare, education, and retirement.

Butterfly Effect, the company behind agentic platform Manus, said it has reached an annual revenue run rate of USD 90 million, its first disclosure of business scale. Most of the revenue comes from Manus subscriptions, following a USD 75 million funding round earlier this year.

Yimutian, China’s largest agricultural B2B platform by revenue and active merchants, listed on Nasdaq on August 19 under the ticker YMT. The IPO raised about USD 22 million, which will fund expansion of its Wolaicai brokerage service and support global growth.

<a href="/company/meituan">Meituan’s</a> food delivery brand Keeta has launched in Doha, Qatar, its second Middle East market after Saudi Arabia. Meituan said Keeta will support local restaurants, couriers, and digital growth as it expands across the GCC region, with a Brazil launch planned in the coming months.

<a href="/company/tencent">Tencent’s</a> TiMi Studio Group has reached 100 million monthly active users overseas, its first disclosure of international player numbers. The developer plans to launch <em>Honor of Kings: World</em> on multiple platforms, targeting Europe, North America, Japan, and South Korea, as Tencent expands abroad amid slowing growth in China.

<p data-start="1874" data-end="2189"><a href="/company/bytedance">ByteDance</a> denied reports that it is developing a Doubao-branded smartphone with ZTE, stating it has no plans to launch its own device. The company said Doubao will focus on integrating <a href="/industry/ai">AI</a> into partner hardware rather than building in-house phones.</p>

China’s smart glasses market grew 148% YoY in H1 2025 to 468,000 units, according to Runto Technology. Driven by rising consumer demand and new product rollouts, brands like <a href="/company/xiaomi">Xiaomi</a> and Rokid are expanding rapidly. Suppliers including Biwin and Lens Technology reported strong orders. Annual sales may reach 1.4 million units.

Ping An Good Doctor posted H1 2025 revenue of RMB 2.5 billion, up 19.5% YoY, with net profit rising 136.8% to RMB 134 million. Paying users grew 35.1% as the company expanded corporate health services and launched new <a href="/industry/ai">AI</a>-powered medical tools. Family doctor membership exceeded 35 million users.

<a href="/company/nvidia">Nvidia</a> is reportedly developing a China-focused AI chip, the B30A, based on its Blackwell architecture and more powerful than the H20. Samples could ship as early as September. The company said it evaluates products in line with government rules. The move follows Trump’s remark that he would consider permitting a scaled-down Blackwell variant for the Chinese market.

<a href="/company/deepseek">DeepSeek</a> has released an enhanced V3.1 <a href="/industry/ai">AI</a> model for testing, featuring a longer context window to support larger inputs and longer conversations. Documentation has not yet been published, and the company’s delayed R2 model remains unreleased.

WuXi Biologics posted H1 2025 revenue of RMB 9.95 billion, up 16.1% YoY, with IFRS net profit rising 54.8%. EBITDA grew 50.5% and gross margin reached 42.7%. The company added a record 86 new integrated projects and raised its FY25 revenue growth target to 14–16%, citing demand for complex biologics and late-stage manufacturing.

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From text to cut: CrePal’s AI agent turns single prompts into complete videos

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