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<a href="/company/xiaomi">Xiaomi</a> has open-sourced MiMo-Embodied, a vision-language model that spans embodied <a href="/industry/ai">AI</a> and autonomous driving and has shown strong benchmark performance across planning and perception tasks. The launch follows recent AI-focused hires and comes as Xiaomi scales <a href="/industry/ev">EV</a> production and reports rising revenue and profit from newer businesses.

<a href="/company/goto">GoTo</a> has nominated Hans Patuwo to become CEO, pending approval at a December 17 shareholder meeting . He would replace Patrick Walujo, who has led the company since June 2023. GoTo said the transition follows a structured succession process and highlighted Hans’s experience across Gojek, GoPay, and on-demand services.

Jingdong Industrials, <a href="/company/jd">JD.com’s</a> supply chain technology unit, has begun investor education meetings for a Hong Kong IPO that could raise about USD 500 million, according to people familiar with the matter. Approved by Chinese regulators in September, the unit plans to use proceeds for <a href="/industry/ai">AI</a> upgrades, supply chain expansion, and future investments and acquisitions.

EHang has completed a downtown Doha demonstration of its EH216-S autonomous passenger aircraft, flying point-to-point between Doha Port and Katara Cultural Village with support from Qatar’s transport and aviation regulators. The eight-minute route will inform policy development and precedes phased commercial plans for air taxi corridors and supporting infrastructure.

China will expand imports of Tajik agricultural products and support Chinese investment in the country, said foreign minister Wang Yi during a visit to Dushanbe. He thanked Tajikistan for its support on China’s core interests and called for deeper cooperation in mineral development and bilateral security patrols.

Sanzitang, a Chinese eye makeup brand that went viral on <a href="/company/douyin">Douyin</a>, has entered Sephora with five products priced at RMB 49.9–59.9, though some online listings run as low as RMB 29.9. Its “two-prong” eyebrow pencil has sold more than 1.6 million units on Douyin and 4.6 million across platforms. Sephora said it will continue partnering with similar brands to broaden its assortment.

Moonshot AI is in talks with investors including IDG Capital and <a href="/company/tencent">Tencent</a> on a funding round that could raise a nine-figure USD sum at a valuation of about USD 4 billion. The firm aims to close the deal by year’s end and has denied giving investors any IPO timeline. Moonshot is also expanding its Kimi model lineup with new open-source releases.

Canva COO Cliff Obrecht said an IPO is “probably imminent in the next couple of years,” following the acquisition and free launch of the Affinity design suite to broaden its reach among professional users. Affinity has drawn about two million downloads in two weeks, adding to Canva’s reported eight years of profitability, USD 3.5 billion in annualized revenue, and 260 million users.

US officials are weighing whether to allow <a href="/company/nvidia">Nvidia</a> to export its H200 chips to China, a potential shift in semiconductor controls that remain central to national security policy. No decision has been made. The debate follows Nvidia’s lobbying and comes as China encourages firms to adopt domestic processors while opposing US curbs on advanced chips.

<a href="/company/huawei">Huawei</a> has launched Flex:ai, an open-source orchestration tool built on Kubernetes that it says can boost <a href="/industry/ai">AI</a> processor utilization by about 30%. The system slices GPUs and NPUs into virtual units and reallocates idle compute across clusters. Huawei presented the release as part of its push to strengthen domestic AI capabilities through software-driven efficiency gains.

<a href="/company/tencent">Tencent</a> has finalized its EUR 1.16 billion investment in Ubisoft’s Vantage Studios for a 26.32% stake at a EUR 3.8 billion valuation. Ubisoft retains full control under terms that restrict Tencent from selling for five years and require Ubisoft to maintain majority ownership for at least two. Change-of-control provisions govern future buybacks or forced sales.

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In Varsapura, familiar mechanics meet a darker and more grounded world.

What we know so far about Varsapura, Hoyoverse’s next game

KrASIA Connection curates technology and innovation updates from China.

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The Disney sequel is the latest litmus test of whether imported films can halt their decline in China.

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Li Auto develops electric vehicles that combine smart cockpit systems, advanced safety features, and long-distance battery support.

What powers tomorrow’s roads? Explore EV adoption, charging infrastructure, and battery advances sparking the shift toward sustainable transport.

Electric Vehicles

Underestimating Xiaomi’s rise was among the missteps highlighted at Li Auto’s latest strategy meeting.

Xiaomi open-sources MiMo-Embodied

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