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Tencent has begun an internal beta of WorkBuddy, an agentic desktop tool developed by Tencent Cloud’s CodeBuddy team. Designed for non-technical users…

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<a href="/company/tencent">Tencent</a> has begun an internal beta of WorkBuddy, an agentic desktop tool developed by Tencent Cloud’s CodeBuddy team. Designed for non-technical users, WorkBuddy executes tasks through authorized local files rather than full system access.

Manus co-founders are discussing raising about USD 1 billion to buy back the <a href="/industry/ai">AI</a> startup from Meta. The deal, which values Manus at USD 2–3 billion, aims to establish a Chinese joint venture ahead of a planned Hong Kong IPO.

Tongcheng Travel posted a 14.4% YoY increase in Q1 2026 revenue to RMB 5.01 billion, while net profit grew 16.5% to RMB 779 million. The company attributed the growth to stronger domestic travel demand and the consolidation of Wanda Hotels and Resorts.

<a href="/company/byd">BYD</a> is accelerating talks to enter Formula 1 following a meeting between executive vice president Stella Li and former Red Bull team principal Christian Horner. BYD is planning further meetings with Formula 1 and FIA officials, though talks remain at an early stage and entry is not guaranteed.

<a href="/company/nio">Nio</a> reported Q1 2026 revenue of RMB 25.53 billion, up 112.2% YoY, marking its second consecutive quarter of operating profit. The company recorded an operating profit of RMB 66.8 million, supported by a record 19% gross margin and reduced R&amp;D spending. Nio delivered 83,465 vehicles during the period and projects Q2 deliveries of 110,000–115,000 units.

CapCut announced a partnership with Google to integrate its creative and editing features directly into the Gemini app. Users will soon be able to edit images and videos within the <a href="/industry/ai">AI</a> platform. The companies have not disclosed further details on the integration timeline or additional functionality.

<a href="/company/netease">NetEase</a> reported Q1 2026 net revenue of RMB 30.6 billion and R&amp;D investment of RMB 4.5 billion. The company posted non-GAAP net profit of RMB 11.3 billion. Its gaming division contributed RMB 25.7 billion in net revenue, while Youdao reported RMB 1.3 billion in revenue.

Yangtze Memory Technologies (YMTC) has announced plans for an IPO. The Wuhan-based chipmaker holds about 14% of the global NAND flash market and is expanding production, with a third factory expected to begin operations by the end of 2026.

<a href="/company/luckin-coffee">Luckin Coffee</a> has launched a line of alcoholic beverages in China, following Starbucks in a push to use off-peak store hours. Luckin is relying on its 33,500-store network to drive frequent, lower-cost sales.

Investor Duan Yongping liquidated his Alibaba stake and initiated a position in Tesla during the first quarter of 2026, according to an SEC filing. His firm, H&amp;H International Investment, increased its Nvidia holdings by 91.3% and its Pinduoduo stake by 71%. The portfolio was valued at USD 20.04 billion as of March 31, up 14.4% from the end of 2025.

<a href="/company/tencent">Tencent</a> launched Marvis, an OS-level AI assistant, on May 21. The tool, available on Windows, Mac, and Android, integrates with system architecture to manage files, control desktop applications, and process images. Mavis uses a routing mechanism to distribute tasks between local and cloud models, enabling some offline functions.

Photo shows Sonavox’s booth at the 2026 Beijing Auto Show.

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The Chinese supplier is building acoustic systems that automakers are increasingly fitting into their latest vehicle models.

Sonavox makes a loud case for audio as part of the smart cabin stack

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Huixing expects to give Mayer & Cie a new lease of life amid an industry hemmed in by Chinese rivals.

China investor takes over 120-year-old German knitting machine maker

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The MRO company is increasing investment in AI integration, among other areas.

ZKH’s Q1 GMV growth accelerates as efficiency push lifts profit

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Tencent tests WorkBuddy desktop agent

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Sonavox makes a loud case for audio as part of the smart cabin stack

China investor takes over 120-year-old German knitting machine maker

ZKH’s Q1 GMV growth accelerates as efficiency push lifts profit