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Tencent Holdings has appointed former OpenAI researcher Yao Shunyu as chief AI scientist, reporting to president Martin Lau. Yao will lead the company…

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China’s tech ecosystem serves as a driving force behind the world’s second largest economy, influencing global digital markets.

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<a href="/company/tencent">Tencent Holdings</a> has appointed former <a href="/company/openai">OpenAI</a> researcher Yao Shunyu as chief <a href="/industry/ai">AI</a> scientist, reporting to president Martin Lau. Yao will lead the company’s new AI infrastructure department and oversee R&amp;D of large models.

<a href="/company/pop-mart">Pop Mart</a> CEO Wang Ning has described 2026 as an adjustment year and said the company may miss its 20% annual growth target. Despite H1 revenue rising 23.8% YoY, Pop Mart is focusing on supply chain improvements, inventory planning, logistics, and organizational changes rather than maximizing short-term growth.

Gotion High-tech is preparing for mass production of battery packs for the Aito M6 EV. The company said on August 21 that it is also discussing supply arrangements for other Harmony Intelligent Mobility Alliance models.

Autonomous driving technology provider Westwell has filed for an IPO on the Shenzhen Stock Exchange, seeking to raise RMB 3.7 billion. Revenue reached RMB 493 million in 2025, but cumulative net losses exceeded RMB 1.3 billion from 2023 to 2025. Seres and CK Hutchison together accounted for about 65% of 2025 revenue.

<a href="/company/kuaishou">Kuaishou’s</a> top ten short drama copyright holders received more than RMB 13 million in revenue sharing in July, up 113% from the previous month. As platforms shift from broad subsidies toward selective incentives, stronger-performing creators are capturing a larger share of payouts amid an oversupply of low-quality and <a href="/industry/ai">AI</a>-generated content.

<a href="/company/byd">BYD</a> debuted its third-generation Tang SUV at the Chengdu Motor Show on August 21. The five-seat flagship features a panoramic display, second-generation Blade Battery, and a 300-kilowatt motor. Its flash-charging system can charge the battery from 10% to 70% in about five minutes, while the chassis uses DiSus-A air suspension.

MiniMax launched MiniMax Design, a multimodal AI tool designed to automate creative workflows. The platform interprets user requests, breaks them into tasks, and manages the processing, generation, and editing of digital assets.

JAC Group reported an H1 2026 net loss of RMB 749 million despite revenue rising 14.31% YoY to RMB 22.13 billion. The automaker sold 172,400 vehicles during the period. Its Q2 loss narrowed to RMB 143 million, marking an eighth consecutive quarterly loss since Q4 2024.

Weibo reported H1 2026 net profit attributable to shareholders of USD 102 million, down 56.1% YoY, while revenue rose 4% to USD 875 million. At the end of Q2, the platform had 561 million monthly active users and 254 million daily active users.

Seres reported an H1 2026 net loss attributable to shareholders of RMB 1.72 billion, compared with a profit a year earlier. Revenue fell 7.87% YoY to RMB 57.49 billion. The company cited changes in its sales mix, model transitions in Q2, and higher battery and chip costs.

<a href="/company/kuaishou">Kuaishou</a> reported Q2 2026 revenue of RMB 35.5 billion, while core commercial revenue rose 7.4% YoY. Revenue from Kling AI exceeded RMB 850 million, up more than 200% YoY, while average daily active users reached a record 412 million.

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After cars and TVs, Chinese brands are targeting the region’s affluent consumers with jewelry, watches, and wine.

Southeast Asia is luxury testbed for China's big new export drive

Southeast Asia is luxury testbed for China&#8217;s big new export drive

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Faster cloud growth is being accompanied by mounting pressure on earnings and cash flow from AI infrastructure spending.

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The company’s handset business lost ground globally and in China, while its newer businesses grew to nearly a quarter of group revenue.

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Southeast Asia is luxury testbed for China’s big new export drive

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