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Xiaohongshu said its "direct-to-buy" feature helped more than 100 products surpass RMB 10 million in sales from October 9 to November 6, led by nearly…

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<a href="/company/xiaohongshu">Xiaohongshu</a> said its "direct-to-buy" feature helped more than 100 products surpass RMB 10 million in sales from October 9 to November 6, led by nearly RMB 200 million for Haier’s washing machines. TCL and Roborock also recorded strong results as conversion efficiency rose and brand participation doubled compared with the 618 festival cycle.

<a href="/company/ant-group">Ant International</a> has launched an iris authentication feature for its Alipay+ GlassPay system, adding a new biometric layer to its AR-based payment tools. The upgrade compares more than 260 iris markers with liveness detection and complements existing voiceprint verification. <a href="/company/xiaomi">Xiaomi</a> and Meizu are the first partners, and Ant is planning a wider rollout across the Asia Pacific.

<a href="/company/meituan">Meituan</a> Shangou said its GMV and user activity reached record levels from October 31 to November 11, as nearly 400 product categories, ranging from smartphones to cosmetics, posted YoY sales above 100%. The surge lifted per-capita spending by nearly 30%, while more than 800 brands, including Apple, <a href="/company/huawei">Huawei</a>, and <a href="/company/xiaomi">Xiaomi</a>, reported triple-digit YoY growth.

<a href="/company/douyin">Douyin</a> has announced a new plan that upgrades protections for users under 18 through enhanced parental controls, youth content, and public interest programs. The update introduces parent-child account binding, remote management of usage and social activity, and real-time risk alerts, while offline initiatives will support rural and migrant children through spaces and sports activities.

Luo Fuli, a former <a href="/company/deepseek">DeepSeek</a> researcher, said she has joined <a href="/company/xiaomi">Xiaomi</a> to work on MiMo, the company’s first inference large model, confirming earlier rumors. Media reports linked her move to Xiaomi’s broader <a href="/industry/ai">AI</a> expansion, including plans for a 10,000-GPU cluster and increased R&amp;D investment.

China’s Singles’ Day festival wrapped up after its longest campaign yet, with subdued spending underscoring continued consumer caution amid property and income worries. Despite deep discounts and subsidies from <a href="/company/alibaba">Alibaba</a>, <a href="/company/jd">JD.com</a>, and others, major platforms withheld sales figures as shoppers spread purchases throughout the year.

Chinese online retailer Vipshop is considering a Hong Kong listing in 2026, according to people familiar with the matter. The US-listed firm has hired advisers for a possible share sale as more Chinese companies seek dual listings to attract global investors and hedge delisting risks.

<a href="/company/bytedance">ByteDance’s</a> Volcano Engine has launched Doubao-Seed-Code, an <a href="/industry/ai">AI</a> coding agent priced at RMB 9.9 for the first month, about 63% below the market average. Integrated with the Trae app, the model can process up to 256,000 words per query and achieved a 78.8% score on the SWE-Bench Verified test, rivaling Anthropic’s Claude Sonnet.

Yann LeCun, Meta’s chief <a href="/industry/ai">AI</a> scientist, is weighing a departure to launch a startup developing “world models,” an alternative to LLMs. His potential exit would close a decade of leadership at Meta as the company shifts its AI ambitions toward "superintelligence."

<a href="/company/tencent">Tencent</a> plans to form a carbon credit buyers’ alliance by year's end, uniting Asian firms from technology, manufacturing, and consumer sectors to boost supply from Global South nations. The initiative, unveiled at COP30 in Brazil, aligns with Tencent’s voluntary goal of achieving carbon neutrality through large-scale credit purchases.

SoftBank has sold its entire <a href="/company/nvidia">Nvidia</a> stake for USD 5.83 billion and part of its T-Mobile shares for USD 9.17 billion to fund a USD 22.5 billion investment in <a href="/company/openai">OpenAI</a> and other <a href="/industry/ai">AI</a> initiatives. The company said the sales are part of its “asset monetization” strategy and not a reflection of concern over AI valuations.

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The startup is developing a streamlined reactor design that could make fusion energy cheaper, faster to build, and easier to commercialize.

Meet Xeonova, an Ant-backed startup powering China’s nuclear fusion ambitions

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Xiaohongshu drives Singles’ Day sales

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Deals in brief: Grab invests USD 60 million in Vay, Transcelestial secures new funding, Bioactivx closes seed round, and more

Samsung shakes off AI memory woes but race to innovate is far from over

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