Alibaba

ByteDance

Huawei

Meituan

Tencent

Xiaomi

Most Followed

KrASIA Connection

100 AI Creators

China's Auto Sector

Inside China's Startups

Venture Roundup

Our Events

View All

Collections

News

Features

Insights

Ecosystem

Press Releases

Anker

DeepSeek

Li Auto

MiniMax

Pop Mart

Xpeng

On the Radar

Reflection, an AI startup backed by Nvidia and Sequoia Capital, is finalizing a USD 1 billion fundraise that could lift its valuation to as much as US…

Events

Latest

About

Consumer

Robotics

Fintech

Collaborate

What guides machine-led insights? Uncover AI applications, language models, and decision-making systems transforming sectors worldwide.

Artificial Intelligence

What lies beyond familiar frontiers? Investigate emerging tech—like quantum computing and AI—transforming traditional sectors.

Deep Tech

What grounds digital progress in physical form? Analyze chipsets, sensors, and advanced components driving device performance.

Hardware

China

Tap the band to your phone and a digital companion appears: sometimes to comfort, sometimes to check in, and sometimes with an unexpected reply.

Duxiang probes the limits of AI intimacy with the Xiangmeng Ring, its first wearable

Decoding China&#039;s tech and business pulse

KrASIA

AI Now! is a global AI community of Chinese developers, professionals, and founders.

AI Now!

How are driverless systems redefining mobility? Uncover sensor technologies, regulatory frameworks, and AI driving cars without human intervention.

Autonomous Vehicles

How is the way we move evolving? Explore developments in autonomous transportation, electric vehicles, and more efficient urban transit.

Mobility

How do goods and people flow worldwide? Examine transport networks, logistics innovations, and policies shaping global connectivity.

Transportation

Collaborations with ride-hailing platforms are giving them the reach to enter new markets.

Chinese robotaxi firms hitch a ride on Uber, Lyft, and Grab to expand overseas

Shi Yi

How do markets shape wealth creation? Study portfolio diversification, asset classes, and strategies balancing growth and risk.

Investment

When do companies invite public investment? Understand listing criteria, underwriter roles, and regulatory steps defining initial offerings.

Why do firms join forces? Investigate synergy goals, valuation methods, and negotiations driving corporate consolidation.

Merger &amp; Acquisition

What happens after acquisitions close? Examine deal structures, operational improvements, and exit strategies molding corporate outcomes.

Private Equity

What fuels startup ecosystems? Review funding rounds, investor strategies, and market insights guiding entrepreneurial growth.

Venture Capital

Indonesia

Japan

Singapore

Southeast Asia

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Deals in brief: RushOwl and Zuzu raise funding, Airwallex acquires OpenPay, nine new China investments, and more

An alias used when humans and machines team up in our newsroom. Articles under this byline may be shaped with the help of AI, but are always vetted by a human before publication.

Sudo Lim

KrASIA tracks China’s tech and business stories, alongside key developments across the broader Asia Pacific region.

Header Section | KrASIA

Home

Sections

Header Section

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.

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.

<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.

China now leads the world in clinical trial volume, with over 7,100 trials registered in 2024 and a 30% global share. Industry leaders cite faster timelines, lower costs, and growing international recognition as drivers of China’s biotech exports and licensing deals, which now exceed equity financing and totaled over USD 60 billion in H1 2025, partly fueled by NewCo-style internationalization.

How does finance become frictionless? Examine digital banking, payment innovation, and lending platforms redefining financial access.

How do policies adjust to a data-rich world? Explore usage-based coverage, automated claims, and analytics guiding risk assessment.

Insurance

The insurer is ramping up investments even as earnings weaken and its shares trade at a discount to peers.

Ping An’s equity spree faces investor doubts as profits fall

36Kr is China's most influential business and technology network, delivering high-quality content focused on China’s innovation and new economy trends since 2010. With its extensive traffic and network, 36Kr has built a comprehensive database and strong data analytics capabilities to provide insights into China’s technology landscape.

https://secure.gravatar.com/avatar/a6b9ace74da9df391d5f7ba1892f4393?s=96&d=blank&r=g

36Kr English

What sets the bar for convenience? Examine on-demand platforms, subscription models, and personalization transforming consumer expectations.

Consumer Economy

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

Banu’s Hong Kong IPO runs into weak investor appetite for hotpot chains

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

Explore East Asia’s thriving tech hubs, global electronics producers, and fast-evolving digital platforms shaping cross-border innovation.

East Asia

Nio, a Chinese electric car maker, specializes in high-performance EVs, battery-swapping solutions, and autonomous driving technologies.

What powers tomorrow’s roads? Explore EV adoption, charging infrastructure, and battery advances sparking the shift toward sustainable transport.

Electric Vehicles

CEO William Li says the EV maker is emerging from a crisis deeper than in 2019, but now has the maturity to weather it.

Reflection AI set for USD 1 billion raise

Latest Pulses

Most Recent

Ping An’s equity spree faces investor doubts as profits fall

Banu’s Hong Kong IPO runs into weak investor appetite for hotpot chains

After hard lessons, Nio’s latest quarter puts it on track to first profit