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Tencent-backed Soul App has filed for a Hong Kong IPO, reporting RMB 2.21 billion in 2024 revenue and sustained profitability, according to its applic…

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<a href="/company/tencent">Tencent</a>-backed Soul App has filed for a Hong Kong IPO, reporting RMB 2.21 billion in 2024 revenue and sustained profitability, according to its application proof. The <a href="/industry/ai">AI</a>-powered social platform reached 11 million daily active users earlier this year, driven by its emotional intelligence model Soul X. Proceeds will be used to fund its AI R&amp;D, global expansion, and user growth.

<a href="/company/mixue-bingcheng">Mixue Bingcheng</a> is piloting a breakfast menu in cities including Dalian, Xi’an, Nanning, and Hangzhou after surveying consumers about morning habits. Early items such as grain-based milk drinks are priced at RMB 5, and no large-scale rollout is planned. The trials come as Mixue expands its portfolio, adding fresh beer through its acquisition of Fulujia.

Nexperia warned that customers face imminent production stoppages as its China unit remains unresponsive after Dutch authorities asserted oversight powers. In an open letter, the chipmaker urged the subsidiary to restart communication or work through a third-party mediator. The Netherlands has since suspended its order while discussions with Chinese authorities continue.

Avatr has filed for a Hong Kong IPO. Backed by <a href="/company/changan-automobile">Changan Automobile</a>, <a href="/company/huawei">Huawei</a>, and <a href="/company/catl">CATL</a>, the <a href="/industry/ev">EV</a> maker delivered 56,729 vehicles in the first half of 2025 and grew revenue 98.5% to RMB 12.21 billion. The company has accumulated more than RMB 100 billion in losses, while a recent stake sale implied a valuation of about RMB 26 billion.

Disney’s <em>Zootopia 2</em> generated more than RMB 213 million on its opening day in China, setting a national single-day record for an imported animated film, according to Maoyan Pro. It also became the country’s top presale animated release, with first-day presales exceeding RMB 189 million as of November 26.

Zong Fuli has stepped down as legal representative, chairwoman, and general manager of Wahaha Group a year after taking over from her late father, filings show. Former legal executive Xu Simin has assumed the roles. Zong retains a 29% stake as she faces ongoing court disputes in mainland China and Hong Kong with three half-siblings over alleged offshore trusts.

<a href="/company/alibaba">Alibaba</a> has launched its first <a href="/industry/ai">AI</a> glasses in China with the Quark series, offering S1 and G1 models priced from RMB 3,799 and RMB 1,899, respectively. Powered by Qualcomm’s Snapdragon AR1 chip, the devices provide hands-free assistance and integrate with Alibaba’s app ecosystem. The launch adds new competition for Meta, <a href="/company/xiaomi">Xiaomi</a>, and Rokid as demand for smart glasses rises globally.

<p data-start="2458" data-end="2711"><a href="/company/catl">CATL</a> and Stellantis have begun building a EUR 4.1 billion LFP battery plant in Aragon, with production slated for late 2026 and capacity of up to 50 GWh. Spanish and Chinese officials called the project a milestone for Europe’s electrification push, as Chinese new energy firms expand manufacturing and supply chain ties across the region.</p>

<a href="/company/xiaomi">Xiaomi</a> has hired Zach Lu Zeyu, an engineer formerly with <a href="/company/tesla">Tesla’s</a> Optimus team, to lead its dexterous hand R&amp;D as the company expands its <a href="/industry/robotics">robotics</a> ambitions. Lu’s experience in manipulation and tactile sensing comes amid a broader recruitment push for robotics talent, with hundreds of openings across the company.

Google has advanced two AI glasses projects into POC-stage testing with Foxconn, Samsung, and Qualcomm. Separate from Project Aura, the devices are expected to use waveguide optics and could debut in 2026 Q4. The effort builds on Google’s Android XR platform and Gemini-based <a href="/industry/ai">AI</a> as the company reenters the smart eyewear market.

<a href="/company/baidu">Baidu</a> has begun layoffs across several business groups, including search, cloud, and platform units, as it moves to streamline costs following a third-quarter loss. Employees said teams in multiple cities were cut and offered severance tied to tenure. The company also reorganized its <a href="/industry/ai">AI</a> work into separate foundational and application model units under CEO Robin Li.

Strutt’s first product is a LiDAR-equipped personal mobility device that uses AI to go beyond the traditional wheelchair format.

Former DJI engineer launches Strutt to bring a human touch to mobility tech

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NetEase, a Chinese Internet services firm, offers online gaming, music streaming, and e-commerce platforms, engaging millions of digital users.

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The game clocked two million players within a day of its global release, but questions remain about its long-term revenue potential.

Where Winds Meet: Can it become China’s next global blockbuster game?

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Soul App files for Hong Kong IPO

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Former DJI engineer launches Strutt to bring a human touch to mobility tech

Where Winds Meet: Can it become China’s next global blockbuster game?

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