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SoftBank-backed Klook has filed for a US IPO after 2024 revenue rose 24% to USD 417.1 million. The Hong Kong-based travel platform plans to list on th…

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36Kr Japan provides in-depth coverage of China's business and tech developments for Japanese-speaking audiences. Established in 2018 in partnership with the Nikkei Group, it distributes content through its own platform, as well as via Nikkei’s publications and leading news aggregators, including Yahoo News and SmartNews.

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Adoption was strong during the campaign, but it remains unclear if user behavior will persist after incentives fade.

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Deals in brief: GIC backs legal AI firm Harvey, Amity and Startale raise funding, China logs 14 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.

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SoftBank-backed Klook has filed for a US IPO after 2024 revenue rose 24% to USD 417.1 million. The Hong Kong-based travel platform plans to list on the NYSE, joining a revived IPO market buoyed by tourism’s rebound. Backers see upside in its mobile-first focus, though analysts note thinner margins in the experiences segment.

<a href="/company/tiktok">TikTok</a> said it is cooperating with Australia’s eSafety regulator as it reviews compliance with the country’s under-16 social media law, which took effect on December 10, 2025. The company added that it is focused on strengthening age assurance technology and enforcement, and will continue engaging with authorities as the assessment proceeds.

Two COSCO-operated Chinese container ships sailed through the Strait of Hormuz on March 30 on their second attempt, becoming the first non-Iranian container vessels to leave the Persian Gulf since the US-Israeli conflict with Iran began on February 28. The ships moved in close formation toward the Gulf of Oman.

Moonshot AI’s ARR surpassed USD 100 million in early March, roughly a month after the launch of its Kimi K2.5 model, according to a person familiar with the matter. API token-per-minute quotas have tightened, with some clients offering higher spending commitments and prepayments for priority access.

Alibaba Health has signed a partnership agreement with AstraZeneca to co-develop digital healthcare services focused on disease management. The collaboration will target areas including respiratory, cardiovascular and metabolic conditions, combining medical expertise with digital tools for patient support.

<a href="/company/byd">BYD</a> told analysts it now expects exports to reach 1.5 million vehicles in 2026, about 15% above its previous 1.3 million target disclosed in January, according to people familiar with the matter. The higher goal follows weaker domestic sales and the company’s first annual profit decline in four years, increasing reliance on overseas markets.

Japan will cut subsidies for <a href="/company/byd">BYD</a> cars to JPY 150,000 from about JPY 350,000–400,000 under revised rules that favor automakers using domestically produced batteries. The change, announced by the Ministry of Economy, Trade and Industry, take effect in April.

Manycore Tech passed HKEX’s listing hearing on March 29 after updating its post-hearing materials, entering the final phase of its Hong Kong IPO with JPMorgan and CCB International as joint sponsors. The spatial intelligence company reported RMB 829 million in 2025 revenue, 82.2% gross margin, and RMB 57.1 million in non-IFRS adjusted net profit, turning profitable.

Unitree Robotics will open its first Asia experience center in late May at Jiuguang Department Store in Shanghai’s West Nanjing Road commercial district. The more than 100-square-meter outlet will showcase the company’s full lineup of latest products.

<a href="/company/deepseek">DeepSeek's</a> chatbot suffered an outage lasting more than seven hours in China, with issues reported on March 29 evening. The company rolled out multiple updates and said a fix had been implemented, though service stability remained unclear.

<a href="/company/bytedance">ByteDance</a> has added watermarking and IP protection features to Seedance 2.0 ahead of its global rollout on CapCut. The update includes C2PA tagging, IP monitoring, and limits on generating real faces or copyrighted characters following scrutiny from Hollywood studios.

Luckin Coffee provides app-based ordering, convenient pickup, and a broad beverage menu, reshaping China’s coffee consumption patterns.

Luckin Coffee

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

Coffee

Luckin’s latest acquisition and Mixue’s coffee trials point to a widening split in strategy.

China’s coffee market splits in two as Luckin moves upmarket and Mixue digs deeper

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Photo of DJI’s logo on display at its flagship store in Xintiandi, Shanghai.

DJI sets industry standards in drone technology, offering aerial imaging, filming solutions, and advanced flight controls for professionals and hobbyists.

Departures at DJI have raised concerns, but there’s a contrarian view worth considering.

Why DJI’s talent outflow may be a sign of strength, not weakness

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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Cheng Zi

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Klook seeks NYSE listing amid travel boom

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China’s coffee market splits in two as Luckin moves upmarket and Mixue digs deeper

Why DJI’s talent outflow may be a sign of strength, not weakness

Deals in brief: GIC backs legal AI firm Harvey, Amity and Startale raise funding, China logs 14 investments, and more