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MiniMax has launched and open-sourced its M2 model, designed for coding and agentic workflows. Claimed to run twice as fast as Claude 3.5 Sonnet at 8%…

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<a href="/company/minimax">MiniMax</a> has launched and open-sourced its M2 model, designed for coding and agentic workflows. Claimed to run twice as fast as Claude 3.5 Sonnet at 8% of the price, M2 supports advanced tool use and reasoning. The model is available for free testing through November 7, with full weights released on Hugging Face.

<a href="/company/douyin">Douyin</a> E-commerce announced that it will remove four logistics firms on October 29 after uncovering fake tracking schemes used to falsify delivery records. The platform said the violations misled consumers and disrupted operations, and it urged merchants to switch to compliant logistics providers.

<a href="/company/xiaomi">Xiaomi’s</a> smart appliance factory in Wuhan has completed its first phase and begun production after 11 months of construction. Built with an investment of more than RMB 2.5 billion, the plant will have an annual capacity of seven million units and an output value of RMB 14 billion, with mass air conditioner production set to begin in 2026.

<a href="/company/pony-ai">Pony.ai</a> has launched its Hong Kong IPO, offering 41.96 million Class A shares priced up to HKD 180 each. The company will list on the Hong Kong Stock Exchange on November 6 while keeping its Nasdaq listing. Proceeds will fund commercialization and R&amp;D of its Level 4 autonomous driving technology.

<a href="/company/dji">DJI</a> led the global action camera market in Q3 2025 with a 66% revenue share, according to data from Meritco. Its <a href="https://kr-asia.com/dji-readies-osmo-360-launch-targeting-gopro-in-360-degree-camera-market">Osmo 360</a>, launched on July 31, quickly captured 49% of China’s <a href="/industry/e-commerce">e-commerce</a> market and 43% globally, underscoring DJI’s ascent in both action and 360-degree camera segments.

Romoss, the Chinese power bank maker embroiled in a <a href="https://kr-asia.com/chinas-power-bank-crisis-romoss-collapse-exposes-industry-fault-lines">safety controversy</a>, has reportedly had RMB 38.86 million in equity frozen by a Hunan court for three years, adding to more than RMB 25 million already frozen. The company has recalled 167,000 units since June after universities banned its chargers over fire risks, with several product certificates later revoked.

WeRide has launched its Hong Kong IPO, offering 88.25 million shares (5% in Hong Kong and 95% internationally) through November 3, targeting proceeds of over USD 400 million. The autonomous driving company is set to list on November 6.

Amazon will cut up to 30,000 corporate jobs (about 10% of its office workforce) starting October 28, marking its largest reduction since 2022. The move reflects CEO Andy Jassy’s push to streamline operations and tap <a href="/industry/ai">AI</a>-driven productivity gains, with divisions including human resources, operations, and Amazon Web Services expected to be affected.

<a href="/company/byd">BYD</a> plans to build 200–300 <a href="/industry/ev">EV</a> charging stations across South Africa by the end of 2026, starting at its dealerships before expanding to highways and city hubs. The network will combine grid and solar power to deliver up to 400 kilometers of range in five minutes, marking BYD’s largest push yet into the African market.

Nexperia has reduced production at its Dongguan plant, idling one-third of machines after wafer supplies from Europe tightened. The slowdown follows the Dutch government’s seizure of the Chinese chipmaker and Beijing’s retaliatory export curbs, heightening risks to global automotive chip supply chains.

<a href="/company/tencent">Tencent</a> said in its latest report that <a href="/industry/ai">AI</a> has become central to its development engine, with over 90% of engineers using AI-driven coding tools that generate half of all new code and lift R&amp;D efficiency by 20%. Supported by WeDev and AnyDev platforms that enhance automation, Tencent added it has accelerated software delivery and improved quality across its core businesses.

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MiniMax launches M2 for coding, agentic AI

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Deals in brief: Applied Materials backs robotics firm Augmentus, Sedifly raises pre-seed funding, Grab invests in May Mobility, and more