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CITIC Securities and China Securities International have withdrawn as overall coordinators of Semi-Tech Group's Hong Kong IPO due to staffing constrai…

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Nestle will retain part of the business while allowing Luckin to leverage Blue Bottle's brand.

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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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CITIC Securities and China Securities International have withdrawn as overall coordinators of Semi-Tech Group's Hong Kong IPO due to staffing constraints, according to people familiar with the matter. The move underscores pressure on banks as listings rebound, with over 400 companies in the pipeline. Semi-Tech aims to raise up to USD 200 million.

Laopu Gold expects 2025 net profit to rise 226–233% YoY to RMB 4.8–4.9 billion, with revenue projected at RMB 27–28 billion, up 217–229%. Tax-inclusive sales are forecast at RMB 31–32 billion, more than tripling from 2024.

Oracle has disclosed a roughly USD 2 billion stake in TikTok's US joint venture, recording USD 2.2 billion in non-marketable investments for the quarter ended February 28. The company owns 15% of the venture, formed after <a href="/company/bytedance">ByteDance</a> divested its US operations under a 2024 national security law.

Flipkart is set to begin a formal process in April to appoint banks for a potential Mumbai IPO, according to people familiar with the matter. The Walmart-backed company could list later this year or in early 2027, with proceeds aimed at expansion and a likely secondary share sale by existing investors.

China’s wholesale car sales fell 15% in February, as domestic sales plunged 34% to 950,000 vehicles, according to the China Association of Automobile Manufacturers. Exports rose 58% to about 590,000 units. The decline reflected fewer business days due to the Lunar New Year, the end of an <a href="/industry/ev">EV</a> tax break, and lower trade-in subsidies.

<a href="/company/li-auto">Li Auto</a> CEO Li Xiang is considering a potential buyback of the company’s Hong Kong-listed shares, with details still under discussion. The deliberations come after a slump in its stock price and a 19% YoY decline in 2025 deliveries, missing internal targets.

KE Holdings’ property development arm Beihaojia has denied reports of a 35% staff reduction and a senior executive’s departure, calling the claims false. The clarification follows scrutiny of its expansion into development, including sales at two self-operated projects. Beihaojia said it is focusing on a light-asset, data-driven C2M model, with 16 cooperative projects underway.

Huashi Food has delisted from China’s National Equities Exchange and Quotations, with trading ending February 12. The Wallace operator said the move will improve decision-making efficiency and reduce compliance costs. The company raised RMB 10 million during its listing, as revenue growth slowed in recent years.

China's National Vulnerability Database has issued security guidelines for agentic <a href="/industry/ai">AI</a> tool OpenClaw, warning against outdated versions, internet exposure, and excessive permissions. The advisory outlines six recommended practices and flags risks including prompt injection and unauthorized file access, marking its second alert on the software since February.

Singtel and <a href="/company/agibot">Agibot</a> have entered a partnership to deploy embodied <a href="/industry/ai">AI</a> robots over Singtel's advanced network infrastructure. The deal marks Agibot’s first telecom operator tie-up outside China and will allow customers in Singapore to lease its robots via Singtel, targeting retail and other commercial use cases.

India has eased investment restrictions on countries sharing a land border, including China, allowing up to 10% beneficial ownership under the automatic route and setting a 60-day approval timeline for sectors such as electronics and polysilicon. The rules replace tighter 2020 curbs introduced after border tensions.

BYD, a Chinese EV maker, produces electric cars, buses, and batteries, accelerating adoption of sustainable transportation worldwide.

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The Chinese automaker has taken risk and acted fast in expanding beyond its home market.

BYD redraws global EV map, overtaking Tesla in 20 markets

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Traffic acquisition and revenue-sharing fees are weighing on profitability as the company scales Bigo Ads.

Joyy revenue rises in Q4, but margins hit by advertising growth costs

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Photo of a Nio showroom in Shanghai, China, circa 2021.

Nio, a Chinese electric car maker, specializes in high-performance EVs, battery-swapping solutions, and autonomous driving technologies.

Record deliveries and a richer product mix pushed the automaker into profit, but the turnaround remains incomplete.

Banks drop Semi-Tech IPO roles

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BYD redraws global EV map, overtaking Tesla in 20 markets

Joyy revenue rises in Q4, but margins hit by advertising growth costs

Nio hits first operating profit in Q4 as turnaround begins to show