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<a href="/company/temu">Temu</a> is reportedly reentering the US market with steep discounts after tariff changes disrupted its business model. Prices on bestselling items are down by up to 60%, and the platform has resumed ads and waived import fees. Now rebuilding its logistics network and urging sellers to cut prices, Temu is aiming to regain ground ahead of the holiday season.

China has reportedly narrowed its gap in <a href="/industry/ai">AI</a> development with the US to about three months, driven by rapid iteration, open-source model advances, and strategic chip reserves, according to CITIC CLSA. However, it still lags in advanced semiconductor production, which remains a longer-term hurdle that constrains progress in cutting-edge AI capabilities.

<a href="/company/xiaomi">Xiaomi</a> executive Lu Weibing has dubbed Apple’s iPhone 17 lineup its most significant redesign to date, praising the iPhone Air’s ultra thin form and saying the new Pro’s bold look, while controversial, enhances brand visibility. He expects the year ahead to be pivotal for smartphone design innovation.

China’s media sector recorded a 39.3% YoY jump in net profit to RMB 221.7 billion in H1 2025, as gaming and film content improved in both supply and quality. Revenue rose 3.3% to nearly RMB 2.7 trillion. Huatai Securities expects momentum to continue in H2, supported by policy, <a href="/industry/ai">AI</a> rollout, and robust content pipelines.

The Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has launched K2 Think, a compact <a href="/industry/ai">AI</a> model built on <a href="/company/alibaba">Alibaba’s</a> open-source Qwen 2.5. Developed with G42 and tested on Cerebras hardware, the system reportedly matches <a href="/company/openai">OpenAI</a> and <a href="/company/deepseek">DeepSeek</a> on scientific reasoning tasks while offering a lower-cost alternative to larger models.

<a href="/company/tesla">Tesla’s</a> mainland China sales fell 9.9% YoY in August to 57,152 units, extending a six-month decline. Its share of China’s EV market dropped to 4.4%, down from 16% in 2020. Local rivals like <a href="/company/xpeng">Xpeng</a>, <a href="/company/xiaomi">Xiaomi</a>, and <a href="/company/leapmotor">Leapmotor</a> continue to gain ground with lower-cost, tech-focused models, despite Tesla’s recent price cuts and incentives.

Unitree Robotics is reportedly preparing to file for an IPO in Q4 2025, targeting a valuation of up to RMB 50 billion. Already profitable and active in factory deployments, Unitree could become one of the first humanoid robotics firms to go public.

Reflection, an <a href="/industry/ai">AI</a> startup backed by <a href="/company/nvidia">Nvidia</a> and Sequoia Capital, is finalizing a USD 1 billion fundraise that could lift its valuation to as much as USD 5.5 billion, ten times its level six months ago. Founded by former Google and DeepMind researchers, the company builds AI-driven tools for software development and aims to develop superintelligent systems.

<a href="/company/nvidia">Nvidia</a> will launch Rubin CPX in late 2026, a GPU designed to improve <a href="/industry/ai">AI</a> efficiency by separating input processing from response generation. Targeting code and video generation, the chip can be deployed as standalone systems or server cards. Nvidia says a USD 100 million deployment could generate USD 5 billion in revenue.

Techo International Airport, a new USD 2 billion facility built by a Chinese state-owned firm, opened near Phnom Penh on September 9. Backed by Cambodian and private investors, the project underscores China’s growing role in Cambodian infrastructure. China also funded the Angkor airport, which opened in 2023.

Shenzhen-based MGI Tech has launched the DNBSEQ-T7+, a high-speed gene sequencer it claims is the world’s fastest, capable of reading 144 human genomes per day. With twice the throughput, improved accuracy, and a compact design, the system targets breakthroughs in cancer and rare disease research. Global shipments are slated to begin in late 2025.

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With Haidilao and Xiabu Xiabu trading at depressed valuations, Banu’s listing faces questions over growth, governance, and consumer demand.

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Temu slashes prices in US comeback

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