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Moore Threads plans to raise RMB 8 billion in a STAR Market IPO, selling 70 million shares at RMB 114.28 for a valuation of RMB 53.7 billion. The onli…

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Moore Threads plans to raise RMB 8 billion in a STAR Market IPO, selling 70 million shares at RMB 114.28 for a valuation of RMB 53.7 billion. The online tranche was oversubscribed 4,126 times. Founded by former <a href="/company/nvidia">Nvidia</a> exec Zhang Jianzhong, the GPU developer reported 182% revenue growth this year as China accelerates chip localisation amid US export restrictions.

Beijing has appointed Unitree Robotics founder Wang Xingxing and Agibot co-founder Peng Zhihui as vice directors of a new national humanoid robotics standards committee. The 65-member panel includes firms such as UBTech, Leju, <a href="/company/xiaomi">Xiaomi</a>, <a href="/company/huawei">Huawei</a>, <a href="/company/baidu">Baidu</a>, and <a href="/company/xpeng">Xpeng</a>, as well as academic institutions, and is tasked with developing technical and safety standards and supporting international collaboration.

UBTech Robotics has secured a RMB 264 million contract in Fangchenggang, Guangxi, for a humanoid robot data collection and testing center and an AI education project, with Walker S2 deliveries scheduled for December. Orders for the company’s 2025 Walker series have reached RMB 1.1 billion in value, and UBTech began mass Walker S2 deliveries in mid-November.

Xiaomi founder and CEO Lei Jun has acquired 2.6 million shares for more than HKD 100 million, increasing his stake to 23.26%, according to a Hong Kong filing. Xiaomi also repurchased 21.5 million shares on November 20 and 21 for over HKD 800 million. The company’s cumulative 2025 buybacks have now exceeded HKD 2.3 billion.

Bolt has partnered with <a href="/company/pony-ai">Pony.ai</a> to test and validate fully autonomous vehicles ahead of planned 2026 deployments for its European ride-hailing service. CEO Markus Villig said the company aims to be among the first EU platforms to offer driverless rides. The move comes as Chinese AV firms expand into Europe and as regulators maintain strict limits on higher-level autonomous systems.

<a href="/company/openai">OpenAI</a> CEO Sam Altman said the company has completed its first hardware prototypes, developed with former Apple design chief Jony Ive following OpenAI’s USD 6.4 billion equity acquisition of Ive’s startup. Ive expects a reveal within two years. Altman said the device is designed to provide a calmer, <a href="/industry/ai">AI</a>-driven experience that filters information and offers long-term, personalized assistance.

WeRide reported Q3 2025 revenue of RMB 171 million, up 144.3% YoY, with robotaxi revenue rising 761% and gross margin improving to 32.9%. The company secured fully driverless permits in Abu Dhabi and Switzerland and expanded operations across Asia, Europe, and the Middle East. Cash, deposits, and investments reached RMB 5.4 billion as WeRide continued scaling its global autonomous driving network.

Hema, known internationally as Freshippo, has launched a plan to help ten partners reach more than RMB 1 billion in annual sales within three years and support 100 suppliers in tripling sales. The company has also opened franchising for its community supermarket brand for the first time, starting in Shanghai, Hangzhou, Jiaxing, and Huzhou with an annual fee of RMB 50,000.

Lucky Cup, the budget coffee chain under <a href="/company/mixue-bingcheng">Mixue Group</a>, has surpassed 10,000 stores, supported by low pricing, franchising, and the group’s supply chain network. The brand expanded quickly after 2020 and opened its first overseas outlet in Malaysia this year. Its pace of growth narrows the gap with <a href="/company/luckin-coffee">Luckin Coffee</a> and <a href="/company/cotti-coffee">Cotti Coffee</a> in China’s increasingly competitive coffee market.

Agibot has launched the LinkSoul platform, offering modular tools to configure a robot’s voice, personality, behavior, memory, and task flows. Users can generate character profiles, script actions, and upload domain knowledge for deployment in homes, retail settings, and corporate venues. The platform aims to expand the range of everyday robot interaction.

<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.

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