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JD.com reported stronger-than-expected quarterly revenue of RMB 299.1 billion, up 15%, as subsidies and a push into quick commerce boosted growth. Pro…

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The veteran marketer’s exit comes as Mihoyo shifts Genshin Impact’s focus toward long-term growth.

Mihoyo loses key Genshin Impact figure as Xie Qiliang steps down

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<a href="/company/jd">JD.com</a> reported stronger-than-expected quarterly revenue of RMB 299.1 billion, up 15%, as subsidies and a push into quick commerce boosted growth. Profit plunged 55% to RMB 5.3 billion amid fierce discounting. The company also expanded abroad with a stake in Ceconomy but lost out on a potential Argos acquisition.

Chinese family entertainment brand Meland will open its first overseas location in Bangkok’s Siam Paragon by the end of 2025. Developed with Siam Piwat, the 5,000-square-meter indoor park will feature six themed zones, hundreds of play experiences, and collaborations with D’strict, marking Meland’s global debut in family-oriented entertainment.

Cursor has raised USD 2.3 billion at a USD 29.3 billion valuation, nearly tripling its value since June. Backed by <a href="/company/nvidia">Nvidia</a>, Google, and major venture firms, Cursor joins the ranks of companies valued above USD 10 billion. Its coding tool now generates more than USD 1 billion in annualized revenue.

Mihoyo confirmed that Xie Qiliang, marketing lead of <em>Genshin Impact</em>, has resigned for personal and career reasons after six years with the company. Xie joined from <a href="/company/netease">NetEase</a> in 2020, and his departure marks another leadership change as <em>Genshin Impact</em> enters a steadier operational phase.

Apple and <a href="/company/tencent">Tencent</a> have reached a deal allowing the iPhone maker to take a 15% commission on purchases made through WeChat mini games and apps, ending a longstanding payment dispute. The agreement gives Apple a new revenue stream in China and eases pressure on Tencent as both firms seek to stabilize ties in the world’s largest smartphone market.

<a href="/company/baidu">Baidu</a> unveiled Ernie 5.0, its natively "omnimodal" foundation model integrating text, images, audio, and video, at Baidu World 2025. The company also introduced new <a href="/industry/ai">AI</a> agents, including Famou and GenFlow 3.0, while expanding the global rollout of tools such as MeDo and its digital human technology.

<a href="/company/bilibili">Bilibili</a> reported Q3 2025 revenue of RMB 7.69 billion, up 5% YoY, driven by 23% growth in advertising. Net profit reached RMB 469.4 million, reversing a loss a year earlier, while adjusted profit surged 233% to RMB 786.3 million. Strong user engagement and cost discipline pushed margins higher, marking sustained profitability momentum.

<a href="/company/weride">WeRide</a> and <a href="/company/grab">Grab</a> have received approval from Singapore’s Land Transport Authority to expand testing of their autonomous shuttle fleet in the city-state’s Punggol district. Trials began in October and will increase fourfold by year's end. The 11-vehicle fleet will pave the way for Singapore’s first residential autonomous shuttle service, expected to launch in early 2026.

Personal care brand Laifen is expanding into the floor washer market, a segment dominated by Ecovacs’ Tineco. The move follows Laifen’s push into shavers and electric toothbrushes as hair dryer sales plateau. Despite intense competition, the category continues to grow, reaching RMB 14.09 billion in sales in 2024.

China’s top legislature has approved revisions to the internet safety law, tightening oversight of generative <a href="/industry/ai">AI</a>. The updated rules take effect in January. The law now extends beyond telecom security to cover AI risk management and the labeling of synthetic media. The move follows a surge of fake disaster and crime images online, leading to detentions and stricter enforcement.

<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.

How does finance become frictionless? Examine digital banking, payment innovation, and lending platforms redefining financial access.

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AI can be used to broaden credit access and rebuild trust in digital lending, he said.

Can AI make credit access more equitable? FinVolution’s Lei Chen thinks so

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What entertains a connected world? Track shifts in film, music, and media consumption, as platforms and audiences redefine cultural experiences.

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The family entertainment operator is opening its first overseas location at Siam Paragon.

JD beats forecasts, but profit drops

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Can AI make credit access more equitable? FinVolution’s Lei Chen thinks so

Mihoyo loses key Genshin Impact figure as Xie Qiliang steps down

China’s Meland to make global debut with Bangkok family park