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<a href="/company/minimax">MiniMax</a>, backed by <a href="/company/alibaba">Alibaba</a> and <a href="/company/tencent">Tencent</a>, plans to channel funds from its planned Hong Kong IPO into R&amp;D and global expansion. With about 70% of revenue generated overseas, the firm aims to list as early as January. MiniMax develops multimodal models and ranks among China’s leading new generative <a href="/industry/ai">AI</a> players.

South Korean fashion retailer Musinsa has opened its first Musinsa Standard store in China on Shanghai’s Huaihai Road, with a Musinsa Store to follow on Anfu Road. Backed by Anta Sports, the company plans to open over 100 stores across China by 2030 to drive expansion ahead of its planned 2026 IPO.

<a href="/company/xpeng">Xpeng</a> will begin local <a href="/industry/ev">EV</a> production in Malaysia in 2026 through a partnership with EP Manufacturing, marking a shift from exports to localized manufacturing. Vehicles will be semi-assembled at EP’s Malacca plant to tap Malaysia’s EV incentives and support Xpeng’s expansion across right-hand-drive markets in the ASEAN region.

Douyin E-commerce has tightened its content rules to curb creators who seek to profit from fake reviews, exposes, or counterfeit claims. Under new regulations effective February 1, 2026, accounts that post unverified or misleading content risk losing monetization and promotion privileges. The platform has already penalized several accounts for repeated violations.

RayNeo, a Chinese AR glasses maker, led the global market for the second straight quarter with a 24% share in Q3 2025, according to Counterpoint Research. Despite rising competition from Meta and <a href="/company/alibaba">Alibaba</a>, RayNeo’s overseas sales rose nearly fourfold YoY across channels in more than 25 countries.

<a href="/company/huawei">Huawei</a> has rolled out a lineup of new premium devices, led by the foldable Mate X7, alongside the FreeClip 2 earphones, Watch Ultimate Design, and MatePad 11.5 S tablet. The company said the launch embodies its “Now Is Yours” philosophy, blending design, innovation, and user-centered experiences across devices.

<a href="/company/meituan">Meituan</a> has suspended Tuanhaohuo, its B2C <a href="/industry/e-commerce">e-commerce</a> business, to focus on developing new retail models, according to an internal memo. Launched in 2020, Tuanhaohuo explored parcel-based retail but fell behind in the shift toward quick commerce. Meituan said it will reassign affected staff as it expands its Shangou and Xiaoxiang Supermarket services nationwide.

Shenzhen-based Picea Robotics will acquire US robot maker iRobot through a court-supervised process following a restructuring support agreement. The deal grants Picea full ownership, allowing iRobot to reduce its debt and continue operations. The pre-packaged Chapter 11 process is expected to conclude by February 2026.

China’s finance ministry plans to issue ultra long-term special government bonds in 2026 to fund national strategies, security initiatives, and large-scale upgrades in equipment and consumer trade-ins. The ministry also pledged to curb local debt and prevent the buildup of new hidden liabilities.

Transsion, Africa’s largest smartphone maker, plans to raise up to USD 1 billion through a Hong Kong IPO after filing this month. Valued at about USD 13 billion in Shanghai, the Shenzhen-based firm aims to attract global investors and may use the funds to expand into <a href="/industry/ev">EV</a> mobility in Africa.

SpaceX is preparing for a potential 2026 IPO, CFO Bret Johnsen reportedly told employees in a memo, while noting that timing remains uncertain. A new internal share price of USD 421 values the company at about USD 800 billion. Proceeds could support Starship launches, space-based <a href="/industry/ai">AI</a> data centers, and Mars missions as SpaceX expands its Starlink network.

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Pop Mart, a Chinese company, designs and sells toys, figurines, and collectibles, primarily in a blind box format.

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Sharing the stage with century-old icons marks a new milestone for Pop Mart.

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As globalization fractures, Hau Leung Lee argues that sustainability and regional resilience should replace efficiency as trade’s guiding principles.

The world’s supply chains are splitting, but this expert says that may not be a bad thing

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MiniMax plans Hong Kong IPO for R&D

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