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xTool’s GMV during Black Friday and Cyber Monday rose about 50% YoY, with single-day sales topping RMB 100 million for the first time. CEO Jasen Wang …

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CHENG Zi is based in China, covering technology and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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xTool’s GMV during Black Friday and Cyber Monday rose about 50% YoY, with single-day sales topping RMB 100 million for the first time. CEO Jasen Wang said the milestone highlights xTool’s shift from STEAM education to a D2C laser tools brand. The company will also merge its Makeblock brand under the xTool name.

<a href="/company/deepseek">DeepSeek</a> reportedly used <a href="/company/nvidia">Nvidia’s</a> Blackwell chips—banned from import into China—to develop one of its upcoming <a href="/industry/ai">AI</a> models. The chips were said to have been smuggled into China via third countries and dismantled before arrival. Backed by hedge fund High-Flyer, the startup previously drew attention for developing cost-efficient models that rival Western AI systems.

A <a href="/company/jd">JD.com</a> unit will acquire a 50% stake in Hong Kong’s CCB Tower from Lai Sun Development for HKD 3.5 billion. The deal follows similar moves by tech firms such as <a href="/company/alibaba">Alibaba</a> and <a href="/company/ant-group">Ant Group</a>, as they seize on steep declines in Hong Kong office values. Lai Sun’s USD-denominated bond rose after reports of the sale.

<a href="/company/alibaba">Alibaba</a> has formed a new business group, led by vice president Wu Jia, to expand consumer adoption of its Qwen <a href="/industry/ai">AI</a> model. The unit combines the Qwen chatbot, Quark assistant, UC Browser, and AI hardware, signaling a shift from developer tools to consumer applications as Alibaba positions Qwen for “superapp” status.

Creality has opened a 600-square-meter flagship store in Shenzhen’s Bay City, combining product display with hands-on learning. Visitors can see, touch, and test 3D printing across fused deposition modeling (FDM), resin, and laser systems. Serving as both classroom and showroom, the site anchors Creality’s move toward service-based, ecosystem-driven retail.

<a href="/company/huawei">Huawei’s</a> Harmony Intelligent Mobility Alliance (HIMA) has announced a comprehensive cooperation upgrade with partners Seres, <a href="/company/chery">Chery</a>, BAIC, JAC, and SAIC in Shanghai. The alliance will standardize smart systems, services, and charging networks while jointly developing next-generation automotive technologies.

Chinese automakers overtook South Korean rivals in Western Europe for the first time in September, claiming 8% of the market versus South Korea’s 7.8%, according to Schmidt Automotive Research. Sales rose 77.5% YoY despite EU tariffs on Chinese <a href="/industry/ev">EVs</a>. Analysts expect momentum to continue as <a href="/company/byd">BYD</a>, <a href="/company/chery">Chery</a>, and <a href="/company/changan-automobile">Changan Automobile</a> expand production and model offerings across Europe.

The US government will allow <a href="/company/nvidia">Nvidia</a> to sell its H200 <a href="/industry/ai">AI</a> chips to approved Chinese buyers in exchange for 25% of sales revenue, said President Donald Trump on December 8. The deal excludes Nvidia’s Blackwell and Rubin models. Nvidia welcomed the move as a “thoughtful balance” between competition and national security, after months of export restrictions.

Qatar has launched Qai, a new subsidiary of its USD 524 billion sovereign wealth fund, to invest in and develop <a href="/industry/ai">AI</a>. The firm will fund AI infrastructure and tools in Qatar and abroad while focusing on building “trusted” AI systems. Chairman Abdulla Al-Misnad said Qai will not create LLMs but will evaluate and commercialize frontier technologies.

Paramount Skydance has launched a hostile USD 30-per-share bid for Warner Bros Discovery (WBD), valued at USD 108.4 billion, after losing out to Netflix’s offer. The all-cash proposal, backed by the Ellison family, RedBird Capital, and Middle Eastern funds, bypasses WBD’s board to appeal directly to shareholders. CEO David Ellison said the deal promises higher cash value and quicker approval than Netflix’s bid.

Z.ai has open-sourced its AutoGLM model on December 9, calling it the world’s first with “phone use” capabilities. The model can visually interpret smartphone screens and perform humanlike actions across more than 50 Chinese apps, including WeChat and Taobao. The release aims to lower technical barriers for <a href="/industry/ai">AI</a>-powered phones and promote an open, developer-driven ecosystem.

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