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Zhipu, also known as Z.ai, has launched its open-source GLM-5.1 model with up to eight hours of sustained task execution and raised prices by 10%, say…

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Zhipu, also known as Z.ai, has launched its open-source GLM-5.1 model with up to eight hours of sustained task execution and raised prices by 10%, saying it surpassed Claude Opus 4.6 on the SWE-Bench Pro benchmark.

Gotion High-tech reported H1 2026 net profit of RMB 1.39 billion, up 278.05% YoY. Revenue rose 43.22% to RMB 27.78 billion, supported by higher sales volumes.

Qiandama submitted updated materials for a Hong Kong IPO on August 21, with CICC and ABC International serving as joint sponsors. The fresh food chain operated more than 3,020 stores as of the end of July, while franchised locations averaged nearly 600 customer visits a day in H1 2026.

Calterah has filed for a Shanghai Star Market IPO that could value the automotive radar chip maker at about RMB 14 billion. The company held a 31.1% share of China’s automotive-grade millimeter-wave radar chip market in 2025, but Q1 2026 revenue growth slowed to 8.1% as it remained loss-making and heavily exposed to BYD’s supply chain.

Dreame has reportedly reduced the size of its automotive team to about 100 people from nearly 1,000. A year after announcing its EV ambitions, the company has yet to secure production partners or a factory site, while some concept vehicles remain in storage.

ByteDance is reportedly exploring autonomous driving through a project led by Zhou Chang’s Seed world model team, with unmanned logistics among the potential applications. ByteDance said it currently has no plans to launch a smart driving business.

Xiaomi launched its Xring O3 chip on August 24, describing it as the first flagship mobile SoC to support LPDDR6 memory. Supply chain sources identified ChangXin Memory Technologies (CXMT) as a core LPDDR6 partner, marking a reported first application of domestically developed LPDDR6 in a flagship processor.

Insta360’s Q1 2026 net profit fell 52% YoY to RMB 84.62 million despite revenue rising 83.1%. As competition from DJI intensifies, the company is exploring an AI-powered autonomous photography concept and expanding offline distribution through Honor, with plans to enter 300 Honor stores by year-end.

Pinduoduo reported Q2 revenue of RMB 112.4 billion and profit of RMB 27.2 billion, with profit down 12%. Non-GAAP R&amp;D spending rose 40% to RMB 4.3 billion. The company also established a subsidiary in the Xiong’an New Area that employs about 4,000 people.

Xpeng reported H1 2026 revenue of RMB 32.78 billion, down 3.8% YoY, and a net loss of RMB 3.12 billion. Deliveries fell 15.8% to 165,977 vehicles, while overseas revenue rose to RMB 8.23 billion. Separately, robotics subsidiary Dogotix secured USD 900 million in new funding commitments.

Li-Ning reported H1 2026 revenue of RMB 15.24 billion, up 2.8% YoY, while net profit rose 4.5% to RMB 1.82 billion. Gross margin improved 0.9 percentage points to 50.9%. The company lowered its full-year revenue growth outlook to the low single digits amid weaker Q2 performance.

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Deals in brief: Buddy Bites raises Series A funding, KCP reaches first close for two investment vehicles, Chandra Asri to acquire Cycle & Carriage businesses, and more

Deals in brief: Buddy Bites raises Series A funding, KCP reaches first close for two investment vehicles, Chandra Asri to acquire Cycle &#038; Carriage businesses, and more

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YMTC parent seeks USD 4.9 billion Shanghai IPO on AI memory boom

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The integration gives Tesla a local partner for cockpit intelligence while leaving open a future pairing with FSD.

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Zhipu launches GLM-5.1 open model

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Deals in brief: Buddy Bites raises Series A funding, KCP reaches first close for two investment vehicles, Chandra Asri to acquire Cycle & Carriage businesses, and more

YMTC parent seeks USD 4.9 billion Shanghai IPO on AI memory boom

Why Tesla chose ByteDance’s Doubao for its AI push in China