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EcoFlow Technology, a Shenzhen-based portable battery maker backed by HSG and Hillhouse Investment, is considering a US IPO that could raise at least USD 300 million, according to people familiar with the matter. The company’s plans depend on regulatory approval in China and would represent a rare US listing by a Chinese firm.

Amazon is in discussions to invest about USD 10 billion in <a href="/company/openai">OpenAI</a>, potentially valuing the ChatGPT maker at more than USD 500 billion, according to a source familiar with the matter. The talks follow a USD 38 billion cloud services deal between the companies and come as OpenAI prepares for a possible USD 1 trillion IPO.

Biren Technology, a Shanghai-based chipmaking startup, plans to raise about USD 300 million through a Hong Kong IPO that could launch as soon as this month, with trading expected in January. Backed by state-linked investors, Biren is part of China’s drive to build homegrown GPU alternatives amid US export restrictions on advanced chips.

<a href="/company/alibaba">Alibaba</a> has launched Wanxiang 2.6, an upgraded video generation model that supports roleplay, sound-driven motion, and multi-shot production, marking China’s first video <a href="/industry/ai">AI</a> model with character simulation. Designed primarily to support professional filmmaking and creative industries, the model offers enhanced visual fidelity and audio performance.

<a href="/company/baidu">Baidu’s</a> no-code platform Miaoda has reportedly generated more than 500,000 commercial applications across 200 use cases in just eight months. Baidu said over 80% of users are non-programmers, while more than 20,000 apps have integrated payment functions. Baidu claims the platform has created over RMB 5 billion in combined economic and efficiency value.

<a href="/company/byd">BYD</a> has secured contracts worth SGD 105.8 million to supply 210 electric buses to Singapore’s Land Transport Authority. The order is part of a 660-bus electrification program, with deployments beginning in late 2026 as Singapore moves toward a fully "cleaner energy bus fleet" by 2040.

<a href="/company/xpeng">Xpeng Motors</a> has received a permit to test Level 3 autonomous driving in Guangzhou and has reportedly begun regular trials on designated highway routes. The company also announced its second-generation VLA system with Level 4 capabilities, which is scheduled for mass production in early 2026.

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.

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As EMB systems approach mass production, Bethel and newcomer Orient Motion are facing off in court for control of the technology.

China’s automakers gear up for EMB mass production, and its first major patent battle

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