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Xiwang Food has written off its entire investment in Iovate after a court-approved restructuring in the US and Canada. The company acquired the sports…

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Deals in brief: JustCo files for SGX listing; Thailand’s Konvy raises Series B funding; 12 China investments; and more

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Xiwang Food has written off its entire investment in Iovate after a court-approved restructuring in the US and Canada. The company acquired the sports nutrition brand for RMB 4.9 billion in 2016, but its shares will be canceled after the subsidiary’s net assets turned negative. Xiwang Food now plans to refocus on its core edible oil business.

Amos Food has filed for a Hong Kong IPO after reporting 2025 revenue of RMB 2.8 billion and net profit of RMB 600 million. Its prospectus highlights concentration risk: North America generated 52.7% of revenue and incurred RMB 108 million in tariffs in 2025. The company also paid a RMB 530 million pre-IPO dividend, distributing more than half of its recent cumulative profits to shareholders.

<a href="/company/kuaishou">Kuaishou</a> plans to spin off Kling AI, its video generation unit, for a separate listing at a target valuation of USD 20 billion. The unit reported monthly revenue of more than USD 20 million in December 2025, implying ARR of USD 240 million. The plan would move Kling closer to operating as an independent <a href="/industry/ai">AI</a>-native platform.

Sun Art Retail expects a loss of RMB 300–350 million for fiscal 2026. The retailer, now controlled by DCP Capital, continues to face weaker foot traffic and store closures. It plans to renovate 500 stores over three years, shift toward a community-focused model, and expand private-label offerings to address falling sales.

<a href="/company/agibot">Agibot</a> showcased its Expedition A3 robot performing martial arts movements at its partner conference in Hong Kong on May 12. The robot features a proprietary joint architecture and weighs 55 kilograms. It offers a ten-hour battery life and supports ten-second battery swaps.

Chinese automakers <a href="/company/chery">Chery</a> and <a href="/company/geely">Geely</a> have delivered their first batches of electric and plug-in hybrid vehicles to Canada after tariffs were reduced to 6.1%. Chery imported 150 vehicles for testing and certification, with plans to ship 1,000 more within three months. Geely’s Lotus brand exported 18 Eletre SUVs, after prices for the model fell by nearly half.

China’s automotive production and sales fell 1.7% and 2.5% YoY in April to 2.58 million and 2.53 million units, respectively, according to the China Association of Automobile Manufacturers. Domestic demand remained soft, but the new energy vehicle market was reportedly stable and vehicle exports continued to grow.

<a href="/company/li-auto">Li Auto</a> will launch the Li L9 Livis in the second quarter of 2026, making it the company’s first mass produced vehicle with a fully wire-controlled chassis. The system integrates steer-by-wire, rear-wheel steering, and electromechanical braking to improve response times and safety. The company said it has completed more than four million kilometers of road testing to validate the platform’s reliability.

<a href="/company/dji">DJI</a> has launched the Romo 2 series of <a href="/industry/ai">AI</a>-powered robot vacuums, featuring a 123-degree mechanical arm, 36,000 Pa suction, and advanced obstacle avoidance. The series includes the P2 and A2 models, priced at RMB 5,499–6,499. The units are available for reservation through DJI’s official online channels and authorized retail stores.

Oppo demoted China senior vice president Duan Yaohui by two ranks after public backlash over a Mother’s Day marketing campaign. The company issued its second apology in four days on May 11, saying the content violated its values and harmed public sentiment. Oppo removed all related materials and disciplined additional marketing staff involved in the project.

<a href="/company/nio">Nio</a> has applied to register multiple trademarks, including “Niobot,” “Nomibot,” and “Neobot,” according to IP filings. The applications cover several categories, including lodging services, and are awaiting substantive examination.

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CATL manufactures batteries that power electric vehicles, energy storage, and renewable energy infrastructures globally.

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The chipmaker is expanding beyond automotive and energy storage to pursue broader physical AI opportunities.

Senasic clears HKEX hearing as CATL-backed chip platform eyes IPO

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The yard robotics company is leaning on product and channel differentiation to stand apart.

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Xiwang Food writes off Iovate stake

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Deals in brief: JustCo files for SGX listing; Thailand’s Konvy raises Series B funding; 12 China investments; and more

Senasic clears HKEX hearing as CATL-backed chip platform eyes IPO

Airseekers unveils Tron Ultra lawn mowers after Series A+ round