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Zhongji Innolight, a maker of optical communication modules, is exploring a Hong Kong listing, according to people familiar with the matter. The compa…

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Zhongji Innolight, a maker of optical communication modules, is exploring a Hong Kong listing, according to people familiar with the matter. The company’s Shenzhen-listed shares have more than tripled this year, giving it a market capitalization of about RMB 450 billion. The potential move would add to a wave of mainland firms seeking funds in Hong Kong.

Valtor Solutions, a construction sourcing startup based in the Philippines, has raised USD 700,000 in a pre-seed funding round led by Wavemaker Impact. The company integrates supplier vetting, logistics, and design services to help developers source sustainable materials faster and at lower cost. Valtor plans to launch its <a href="/industry/ai">AI</a>-powered BOQ (bill of quantities) platform in October to expand across Southeast Asia.

SAIC Motor sold 440,000 vehicles in September, up 40.4% YoY, maintaining its lead in China’s automotive market. Wholesale volumes for the first nine months rose 20.5% to 3.19 million units. Sales of self-owned brands grew 50.4%, new energy models 46.5%, and overseas markets 12.2%, reflecting broad-based growth across key segments.

Elon Musk’s xAI is expanding its ongoing fundraising round to USD 20 billion, with investors including <a href="/company/nvidia">Nvidia</a>, Apollo Global Management, and Diameter Capital Partners, according to people familiar with the matter. The financing, structured through a special purpose vehicle, will fund Nvidia processors for xAI’s Colossus 2 data center in Memphis.

<a href="/company/tesla">Tesla</a> has unveiled lower-priced standard versions of its Model Y SUV and Model 3 sedan, both priced below USD 40,000, alongside an update to its supervised FSD system. Shares slipped after investors hoping for new model announcements were disappointed. The move comes as Tesla faces mounting competition and slowing sales.

Anthropic’s new ban on China-backed entities using its <a href="/industry/ai">AI</a> models is expected to have limited impact on the mainland’s AI development, analysts said. Despite tighter restrictions, users continue to access Anthropic’s Claude models through relay sites, while Chinese firms such as Z.ai and Moonshot AI are moving to capture displaced users.

Mixue Group, which operates China’s largest beverage chain, will spend RMB 297 million to acquire a 53% stake in Fulujia, the operator of Fulu Fresh Beer bars. The deal marks Mixue’s entry into draft beer, widening its customer base beyond younger drinkers as it diversifies from fruit teas and coffee into new beverage categories.

Nigeria is in talks with the Export-Import Bank of China for a USD 2 billion loan to build a new “super grid” linking the country’s eastern and western regions. The cabinet-approved project aims to ease power shortages and attract industrial users back to the national grid as part of wider energy sector reforms.

China has pulled ahead of the US in the global energy export race, shipping USD 120 billion in clean technologies through July compared with USD 80 billion in US oil and gas exports. Driven by demand for <a href="/industry/ev">EVs</a>, solar panels, and batteries, China’s record USD 20 billion in August exports underscores its growing dominance in clean energy trade.

<a href="/company/tesla">Tesla</a> shares rose after the company posted teaser videos on X showing a car's components and headlights, ending with “10/7.” The posts reignited speculation over whether CEO Elon Musk will unveil the next-generation Roadster or a lower-cost model aimed at broadening mass market appeal.

Sunrise New Energy has received USD 600,000 from China’s National Special Fund for Science and Technology Development, marking the first national-level science project approved in Qianxinan prefecture in three years. The funds will support R&amp;D on solid-state battery anode materials and help accelerate the industrialization of next-generation technologies.

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The new Match Attax series marks Fanatics’ China debut and Kayou’s entry into sports IPs, bridging two major collectibles markets.

Kayou partners with Fanatics to launch China’s first official NBA trading cards

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Expect high-level discussions among global leaders, including a fireside chat between OpenAI’s Sam Altman and G42’s Peng Xiao.

GITEX Global 2025 returns to Dubai, spotlighting “future-critical sectors” worldwide

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The ByteDance platform has introduced a solution designed to manage the challenges of end-to-end vehicle development.

Optics maker Innolight eyes Hong Kong IPO

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Kayou partners with Fanatics to launch China’s first official NBA trading cards

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