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<a href="/company/mixue-bingcheng">Mixue Group</a> has secured 93 new Vietnam store contracts at its 2025 franchisee conferences in Ho Chi Minh City and Hanoi, which drew nearly 700 candidates. Vietnam remains the brand’s third largest market as Mixue enters a mature expansion phase focused on larger store formats, stronger locations, and improved consumer experience to support long-term franchise growth.

<a href="/company/anta">Anta Sports</a> is exploring a potential takeover of Puma and has been working with an adviser to assess a bid, according to people familiar with the matter. Li-Ning and Asics may also consider offers. Talks remain preliminary, and valuation expectations from Puma’s largest shareholder Artemis could pose a hurdle. Puma’s share price slump has cut its market value to about EUR 2.5 billion.

<a href="/company/xiaomi">Xiaomi</a>, <a href="/company/oppo">Oppo</a>, and Vivo have canceled their respective "Air" phone projects and shifted planned eSIM features to standard devices, sources said, reflecting weak demand for ultra thin smartphones. Apple’s iPhone Air has also reportedly underperformed, with suppliers scaling back production. Huawei continues with its Mate 70 Air, which analysts say offers a more balanced mix of battery life, imaging, and design.

EcoFlow has secured Clean Energy Council certification for its home battery and solar technologies, marking its formal entry into Australia. The approval confirms compliance with local safety and performance standards as the company prepares to launch modular LFP-based systems designed for installers. The company is also planning broader product introductions and partnerships beginning in 2026.

The Pentagon told the US Congress it has determined <a href="/company/alibaba">Alibaba</a>, <a href="/company/baidu">Baidu</a>, <a href="/company/byd">BYD</a>, and five other Chinese companies should be added to the US 1260H list identifying firms tied to China’s military. The notice preceded the recent US-China trade truce. Alibaba denied any military links, and China’s foreign ministry criticized the move. The designation carries no direct penalties but increases compliance and investor risk concerns.

<a href="/company/bytedance">ByteDance</a> is in talks to sell Shanghai Moonton Technology, the studio behind <em>Mobile Legends: Bang Bang</em>, to Saudi Arabia’s Savvy Games Group, reviving a divestment plan paused last year. Moonton was acquired in 2021 at a roughly USD 4 billion valuation. The discussions come as ByteDance pulls back from <a href="/industry/gaming">gaming</a> and Savvy accelerates investments.

Cheetah Mobile reported Q3 2025 revenue of RMB 287.4 million, up 49.6% YoY, as its <a href="/industry/ai">AI</a> and miscellaneous segment grew 150.8% to half of total revenue. Operating profit reached RMB 3.9 million, its first in six years, while non-GAAP operating profit rose to RMB 15.1 million. Net loss narrowed to RMB 11 million, and cash stood at RMB 1.6 billion.

EHang reported Q3 revenues of RMB 92.5 million, a decline from RMB 128.1 million a year earlier, as deliveries fell to 42 eVTOL aircraft units, according to its unaudited results . The company posted an RMB 82.1 million net loss while launching the VT35, preparing commercial operations in China, and expanding trial programs across Asia, the Middle East, and Africa.

<a href="/company/li-auto">Li Auto</a> reported Q3 revenues of RMB 27.4 billion, a 36.2% YoY decline, as deliveries fell 39% to 93,211 vehicles, according to its unaudited filing . Recall-related costs reduced gross margin to 16.3% and led to a RMB 624.4 million net loss. The company forecasts 100,000–110,000 deliveries and up to RMB 29.2 billion in revenue for the next quarter.

<a href="/company/nvidia">Nvidia</a> CEO Jensen Huang told employees to adopt <a href="/industry/ai">AI</a> wherever possible, rejecting reports that some managers discouraged its use. He said tasks suited for automation should be handled by AI and noted that Nvidia engineers already rely on tools like Cursor as major tech firms deepen internal AI adoption. Huang added that hiring remains strong despite recent layoff trends.

<a href="/company/chery">Chery</a> launched the Chery X in Jakarta on November 24, introducing a transformable seven-seat SUV with foldable second-row seats and a quick-release third row that shifts into camper and open-top layouts. The model features a waterproofed powertrain with 700 millimeters of wading depth as Chery broadens its SUV range in Indonesia.

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Huawei-backed Maextro to expand its presence in China’s luxury car market with six new models

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Deals in brief: Roojai raises Series C funding, Cove acquires Casa Mia Coliving, nine China investments, and more

Huawei-backed Maextro to expand its presence in China’s luxury car market with six new models

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