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CXMT has received approval from the Shanghai Stock Exchange listing committee for its IPO. The Chinese memory chipmaker plans to raise RMB 29.5 billio…

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Alibaba, China’s e-commerce giant, operates online retail marketplaces, cloud computing services, and digital payment networks across Asia and beyond.

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AISpeech targets Star Market IPO as demand for conversational AI grows

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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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CXMT has received approval from the Shanghai Stock Exchange listing committee for its IPO. The Chinese memory chipmaker plans to raise RMB 29.5 billion, which could make it the second largest offering in the history of the Star Market after SMIC.

<a href="/company/meituan">Meituan</a> launched Qianniuhua Claw on May 27, an <a href="/industry/ai">AI</a>-driven solution for quick commerce merchant operations. The package combines AI services and systems to help merchants, brands, and supply chain partners manage multiple stores, optimize operations, and improve business strategies.

<a href="/company/bytedance">ByteDance</a> is designing custom CPUs to support its <a href="/industry/ai">AI</a> infrastructure and reduce reliance on external suppliers, according to sources. The TikTok parent is developing two chip designs based on Arm and RISC-V architectures. The push follows reported 10–35% price hikes for server chips from Intel and AMD.

<a href="/company/chery">Chery</a> and its partners will launch the Emta <a href="/industry/ev">EV</a> brand in Japan, with the first car model scheduled for release in spring 2027. The joint venture, which includes Autobacs Seven, plans to introduce four models by 2029 and establish up to 100 service and sales locations across the country.

Seres subsidiary Landian Technology will receive RMB 6.67 billion in capital injections from three new investors, including <a href="/company/catl">CATL</a> subsidiary Wending Investment. Following the deal, Seres will relinquish control of Landian, which will transition to equity method accounting.

<a href="/company/tencent">Tencent</a> rolled out the international version of its <a href="/industry/ai">AI</a>-powered creative studio, Miora, on May 28. The platform integrates multiple visual AI models to support the generation of images, video, artifacts, interfaces, and 3D content. Miora is currently available for testing by invitation code.

<a href="/company/iflytek">iFlytek</a> launched its new AI glasses, priced at RMB 4,299. The device supports real-time translation for 122 languages in scenarios including face-to-face conversations and calls. It also features GlassClaw, an integrated AI agent that handles multimodal recording, meeting summaries, and automated task generation.

<a href="/company/tencent">Tencent</a> launched the international version of its desktop <a href="/industry/ai">AI</a> agent, WorkBuddy, on May 28. The tool features localized adaptations for overseas users and supports integrations with platforms including GitHub, Jira, Google Drive, and Slack via the MCP protocol, allowing users to execute tasks across services without switching contexts.

01.AI CEO Kai-Fu Lee announced plans for a 2027 IPO and said the company aims to become profitable in 2026. The company reported more than RMB 1.5 billion in orders as of May and will issue 20 million additional stock options to staff as it shifts toward industrial AI applications.

<a href="/company/kuaishou">Kuaishou</a> reported Q1 2026 revenue of RMB 33.7 billion, exceeding analyst expectations. Monthly active users reached a record 772 million, but live streaming revenue declined 13.5% YoY, while increased <a href="/industry/ai">AI</a> capital expenditures are adding margin pressure.

Tencent Games launched MagicDawn’s NDGI, a cross-platform neural dynamic global illumination solution, on May 27. The real-time rendering system is now open source, giving developers access to its full solution and toolchain. MagicDawn also partnered with <em>Roco Kingdom</em> to enhance in-game lighting and worked with Arm to optimize <a href="/industry/ai">AI</a> inference for mobile GPUs.

Pony.ai develops self-driving technologies for cars and trucks, collaborating with automakers to bring safer, fully autonomous mobility to public roads and fleet services worldwide.

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How are driverless systems redefining mobility? Uncover sensor technologies, regulatory frameworks, and AI driving cars without human intervention.

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Robotaxi revenue is forecast to reach more than 3.5 times last year’s level as Pony.ai expands its fleet to more than 3,500 vehicles.

Pony.ai raises 2026 robotaxi targets as revenue growth accelerates

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Here’s a roundup of key developments across the Middle East for the week of May 17–23.

Middle East weekly: Jetour opens UAE service center, Dubai launches second stimulus package, Aramco deploys Saudi Arabia’s first quantum computer, and more

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CXMT passes IPO review

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Pony.ai raises 2026 robotaxi targets as revenue growth accelerates

Middle East weekly: Jetour opens UAE service center, Dubai launches second stimulus package, Aramco deploys Saudi Arabia’s first quantum computer, and more

AISpeech targets Star Market IPO as demand for conversational AI grows