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Douyin Group vice president Li Liang rejected reports of a <a href="/company/bytedance">ByteDance</a> listing in Hong Kong, calling them attempts to hype “concept stocks.” The statement came as ByteDance reported Q2 revenue of USD 48 billion, surpassing Meta, while related stocks such as Inmyshow and Inspur saw brief surges.

Empyrean Venture, a Dreame subsidiary, denied reports it forced employees to co-invest, calling the claims baseless and damaging. The firm said participation is voluntary and that it has begun legal action against those spreading false claims. The rebuttal comes as Dreame diversifies into verticals such as smartphones and <a href="/industry/ev">EVs</a>.

Douyin E-commerce’s GMV rose 34% YoY from August 2024 to July 2025, powered by a 49% jump in shelf-based sales, which now contribute about half of transactions. Backed by subsidies, the push has reshaped strategy: <a href="/company/douyin">Douyin</a> merged its ad unit into e-commerce and shifted RMB 19 billion in subsidies to merchants to cut costs and boost growth.

<a href="/company/chery">Chery</a> shares jumped 11.2% in their Hong Kong debut, raising HKD 8.8 billion in the IPO. The Anhui-based automaker canceled its listing ceremony due to typhoon disruptions and said it will exit Russia, its largest overseas market, by 2027.

Beatbot, a Chinese robotics company, has raised about RMB 1 billion in a round led by Meituan’s DragonBall Capital, with Hillhouse Capital, Shunwei Capital, Cathay Capital, Source Code Capital, Anker Innovations, Monolith, and Yunmu Capital participating. Founded in 2022, the firm leads China’s high-end online pool cleaner market and will use the funds for R&amp;D, global expansion, and new products such as robotic lawn mowers.

Mova has raised an eight-figure RMB sum in angel funding to expand R&amp;D, advance its innovation pipeline, and strengthen its industrial ecosystem. Founded in January, the power tool maker has launched consumer products in Europe and projects RMB 100 million in GMV by Q4 2025, with professional tools slated for release in 2026.

<a href="/company/xiaomi">Xiaomi</a> has launched its home appliance line in Europe, starting with air conditioners, refrigerators, and washing machines. The rollout coincides with the September 26 opening of its first German store in Essen, providing an offline sales channel. The company faces established rivals such as Siemens and Miele as it seeks to expand beyond China.

China’s commerce minister Wang Wentao has urged Chinese firms in the US to avoid price wars, highlighting Beijing’s bid to maintain a fragile trade consensus with Washington. Speaking in New York, Wang tied the appeal to concerns over industrial overcapacity and emphasized stabilizing ties ahead of a possible meeting between national leaders.

Alibaba Cloud has integrated <a href="/company/nvidia">Nvidia’s</a> embodied <a href="/industry/ai">AI</a> toolkit into its machine learning platform, the companies announced at the Apsara Conference in Hangzhou. The tie-up, their second in as many years, extends beyond last year’s automotive model project and comes as <a href="/company/alibaba">Alibaba</a> increases AI spending and Chinese robot makers adopt Nvidia’s new systems.

<a href="/company/douyin">Douyin</a> is refining its recommendation system by using behavioral signals from knowledgeable users to better surface quality content. At this year’s Creator Conference, the platform said the shift aims to balance growth between new and top creators. High-quality content saw a 160% YoY rise in views, a 220% increase in watch time, and averaged 17 times the watch time of regular content.

Alibaba Cloud has introduced Qwen3-Max, the flagship model of its new Qwen3 series, built for advanced agentic <a href="/industry/ai">AI</a> scenarios. The Qwen family now includes over 300 open-source models with 600 million downloads and 170,000 derivatives. More than one million users have reportedly accessed the models via <a href="/company/alibaba">Alibaba’s</a> Model Studio.

ByteDance, a Chinese internet company, uses machine learning to recommend engaging videos, news, and social content (via TikTok and Douyin).

Douyin, the Chinese version of TikTok, showcases locally popular short videos, influencer content, and creative challenges optimized for China’s market.

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Ocean Engine has been folded into Douyin E-commerce as part of the move.

Douyin reshapes strategy to cut merchant costs as GMV grows

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The proposed IPO would add to GEM’s Shenzhen and Swiss listings, with proceeds aimed at expansion and development.

GEM files for Hong Kong IPO to strengthen capacity, innovation, and international expansion

CHENG Zi is based in China, covering technology and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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ByteDance denies Hong Kong IPO rumors

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Douyin reshapes strategy to cut merchant costs as GMV grows

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