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Zhongbai Group reported a net loss of RMB 957 million for 2025, widening 81.07% YoY, as revenue fell 20.21% to RMB 8.28 billion. The retailer closed 4…

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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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DeepSeek, a Chinese AI company, develops large language models and machine learning solutions for enterprise applications and scientific research.

Explore East Asia’s thriving tech hubs, global electronics producers, and fast-evolving digital platforms shaping cross-border innovation.

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DeepSeek V4 has clear advantages, but it also shows why no AI model can serve every use case yet.

How do industry professionals in China view DeepSeek V4’s strengths and limits?

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KrASIA

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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Pop Mart, a Chinese company, designs and sells toys, figurines, and collectibles, primarily in a blind box format.

What sets the bar for convenience? Examine on-demand platforms, subscription models, and personalization transforming consumer expectations.

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Executives said the priority for now is to build richer experiences around its characters, not to chase profit.

Pop Mart announces upgrade to Beijing theme park Pop Land

From left to right: Genping Liu, Dennis Sze, Lemuel Low, Edmund Tan, and Chan Yip Pang. Sze, Low, and Tan are co-founders of ReN3, while Liu and Chan serve as general partner and executive director of investments, respectively, at Vertex Ventures Southeast Asia & India.

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Deals in brief: Vertex Ventures backs ReN3 and Formas.ai; Featherless and SiamDL raise Series A funding; latest China investments, and more

An alias used when humans and machines team up in our newsroom. Articles under this byline may be shaped with the help of AI, but are always vetted by a human before publication.

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KrASIA tracks China’s tech and business stories, alongside key developments across the broader Asia Pacific region.

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Zhongbai Group reported a net loss of RMB 957 million for 2025, widening 81.07% YoY, as revenue fell 20.21% to RMB 8.28 billion. The retailer closed 414 stores, citing increased competition from online channels and new retail formats. Despite efforts to adopt the management model of Pangdonglai, it continues to face challenges in supply chain management and internal governance.

GAC ranked first in the Hong Kong private car market in April 2026, selling 1,646 units. The total included 1,596 battery electric vehicles and 50 plug-in hybrids. The company also reported a 133.9% year-on-year increase in global exports for the first four months of 2026, reaching 70,474 units.

Entrepreneur and investor Duan Yongping said he sold his shares in China Shenhua Energy to increase his stake in <a href="/company/pop-mart">Pop Mart</a>.

Bambu Lab and Pop Mart reached a settlement in March to resolve a copyright dispute over 3D printing models on the MakerWorld platform that were alleged to be based on Labubu. The lawsuit, which had been scheduled for an April hearing, followed a surge in unauthorized user-generated content. Bambu Lab has since removed the disputed models from its community platform.

<a href="/company/nio">Nio</a> will open its 1,739-kilometer battery swapping route along the Hexi Corridor on May 10, connecting Xi’an to Dunhuang with 20 stations. The route will allow Nio and Onvo users to complete the journey using only battery swapping services. Nio plans to complete its full Silk Road route by the second half of the year, enabling travel across all provincial-level regions in mainland China.

Moonshot AI is set to raise USD 2 billion in a funding round led by Meituan, valuing the Chinese startup, known for its Kimi model and chatbot, at USD 20 billion.

<a href="/company/insta360">Insta360</a> reported record 2025 revenue of RMB 9.74 billion, up 74.76% YoY, but its fourth-quarter net profit fell 50%. The company faces pressure from <a href="/company/dji">DJI</a> in the panoramic camera market, prompting price cuts and higher supply chain costs. It is pivoting toward drones and <a href="/industry/ai">AI</a>-driven content ecosystems to support future growth.

Thailand has approved a THB 842 billion data center expansion for <a href="/company/tiktok">TikTok</a>. The project includes installing servers and upgrading data storage infrastructure in Bangkok, Samut Prakan, and Chachoengsao to support regional digital services. TikTok also committed to digital literacy and e-commerce training programs for local entrepreneurs.

Yanghe Distillery reported 2025 revenue of RMB 19.21 billion and net profit of RMB 2.21 billion. Amid a broader industry downturn, the company reduced its liquor inventory by 31.74% to 31,122.56 tons, prioritizing channel destocking and price stability over volume growth.

<a href="/company/huawei">Huawei</a> updated its HarmonyOS 6.1 assistant with new identity verification and content synchronization features. The update requires identity verification to access sensitive information and enables automatic syncing of saved content for centralized management, including <a href="/industry/ai">AI</a>-powered summaries and Q&amp;A.

<a href="/company/xpeng">Xpeng</a> announced that its GX SUV successfully navigated 49 consecutive hairpin turns on a five-kilometer mountain road in Yunnan. The vehicle features a 5.4-meter turning radius and a minimum 0.6-turn steering ratio at low speeds. The full-size SUV, which debuted on April 15, starts at RMB 399,800.

Hong Kong

Tencent and JD.com are among its primary backers.

Taocheche files for Hong Kong IPO as China’s leading used car trading platform

IPO Zaozhidao is a Chinese media outlet that provides timely coverage of IPO developments and related market signals.

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ByteDance, a Chinese internet company, uses machine learning to recommend engaging videos, news, and social content (via TikTok and Douyin).

The free version will continue to support everyday use.

ByteDance explores AI monetization for Doubao with paid subscription tiers

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How do ideas shape industries? Learn how content, design, and digital artistry influence branding, marketing, and cultural impact.

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Where do style and commerce meet? Examine supply chains, sustainable sourcing, and digital trends influencing global fashion markets.

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The company has unveiled SynReal, a system designed to narrow the gap in deformable object simulation.

Zhongbai reports RMB 957 million loss

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