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Carlyle, Boyu Capital, EQT, and HongShan have been shortlisted to acquire a majority stake in Starbucks’ China business, which bidders are valuing at …

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Carlyle, Boyu Capital, EQT, and HongShan have been shortlisted to acquire a majority stake in Starbucks’ China business, which bidders are valuing at around USD 5 billion based on earnings projections. Goldman Sachs, which is running the process, is expected to select a buyer by the end of October.

Hesai Group has raised USD 531 million in a Hong Kong listing to expand LiDAR sensor production amid growing global demand for autonomous driving technology. The Shanghai-based firm, the world’s largest automotive LiDAR maker, plans to scale manufacturing in China and Southeast Asia.

TikTok’s US operations may be spun off into a new venture backed by Oracle, Andreessen Horowitz, and Silver Lake, under a tentative deal that would cut <a href="/company/bytedance">ByteDance’s</a> stake to below 20%. US-China talks are underway to finalize terms ahead of a December 16 divestiture deadline extended by the White House.

KKR has acquired Hoken Minaoshi Hompo Group, a major insurance distributor in Japan with 350 locations and omnichannel services. Backed by KKR’s Asian Fund IV and K-Series, the investment will support growth through sales enablement, digital upgrades, and bolt-on acquisitions.

China is cracking down on online disinformation in the automotive sector, with national authorities launching a three-month campaign targeting false advertising and slander. Amid rising social media attacks, automakers including <a href="/company/byd">BYD</a> and MG have offered rewards of up to RMB 5 million for tips on malicious accounts.

<a href="/company/mixue-bingcheng">Mixue Bingcheng</a> trimmed its overseas store count to 4,733 in H1 2025, down from 4,895 at the end of 2024, closing underperforming locations in Indonesia and Vietnam as part of an operational shift to improve efficiency. Despite the near-term pullback, the chain is expanding into Brazil and Central Asia.

UltraGreen.ai, a specialist in fluorescence-guided surgical technologies and precision healthcare, has raised USD 188 million in a funding round co-led by 65 Equity Partners and Vitruvian Partners, with participation from August Global Partners. Valued at USD 1.3 billion, the company will use the capital to scale its <a href="/industry/ai">AI</a>-powered imaging platform and expand across Asia and global surgical markets.

Seon has raised USD 80 million in a Series C round led by Sixth Street Growth, with participation from existing investors IVP, Creandum, and Firebolt, and new investor Hearst. The funding brings Seon’s total raised to USD 187 million and will support its expansion into LATAM, scaling of its fraud and AML platform, and deeper engagement with financial institutions amid rising cybercrime.

A Beijing court has ordered <a href="/company/tesla">Tesla</a> to release 30 minutes of driving data preceding a 2021 crash involving a Model 3, siding with Zhang Yazhou after a four-year legal battle. Zhang, who drew national attention by protesting atop a Tesla at the Auto Shanghai expo, aims to verify possible brake failure and may pursue further legal action.

US President Donald Trump’s willingness to let <a href="/company/tiktok">TikTok</a> shut down was a key turning point in deal talks with China, treasury secretary Scott Bessent said. The stance helped shift Beijing’s position, leading the White House to extend ByteDance’s divestiture deadline to December 16 as negotiations with potential buyers continue.

Saison Capital has launched Onigiri Capital, a USD 50 million blockchain fund focused on startups advancing real-world asset innovation across Asia. Co-led by Qin En Looi and Hans de Back, the fund has secured USD 35 million to date and targets segments including stablecoins, DeFi, and tokenized assets.

Mixue Bingcheng runs beverage shops, leveraging mobile ordering and social commerce to serve refreshing drinks and desserts.

Mixue Bingcheng

Closures in Indonesia and Vietnam mark growing pains, but domestic scale, coffee, and new supply hubs give the group fresh momentum.

Mixue trims abroad, doubles down at home, and brews up Lucky Cup’s rise

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How does automation advance industry? Analyze robotic arms, drones, and AI-driven tools reshaping manufacturing and services.

Used in everything from humanoid robots to pool cleaners, RobStride’s modules are becoming the unseen foundation of China’s embodied intelligence wave.

RobStride builds the joints that keep China’s robots moving, and a thriving industry around them

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A buyer is expected to be chosen by October.

Starbucks shortlists four firms for China deal

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Mixue trims abroad, doubles down at home, and brews up Lucky Cup’s rise

RobStride builds the joints that keep China’s robots moving, and a thriving industry around them

Brewing takeover: Four firms in final race to buy Starbucks China