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DeepSeek reportedly plans to raise about USD 7 billion in its first funding round at a valuation of up to USD 59 billion. Tencent and CATL are expecte…

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<a href="/company/deepseek">DeepSeek</a> reportedly plans to raise about USD 7 billion in its first funding round at a valuation of up to USD 59 billion. <a href="/company/tencent">Tencent</a> and <a href="/company/catl">CATL</a> are expected to be the largest external investors, with <a href="/company/netease">NetEase</a> and <a href="/company/jd">JD.com</a> also expected to participate.

<a href="/company/alibaba">Alibaba</a> is reportedly seeking to sell its gaming division, Lingxi Games, for RMB 7–9 billion. The company has approached potential buyers including 37 Interactive Entertainment, China Ruyi, Century Huatong, Giant Network, and two private equity firms, as it shifts focus toward <a href="/industry/ai">AI</a> and cloud computing.

Z.ai (Zhipu AI) reached a market capitalization of HKD 1.07 trillion on June 22, becoming the first Chinese <a href="/industry/ai">AI</a> company to exceed the HKD 1 trillion threshold. The company, which reported 2025 revenue of RMB 724 million, saw its valuation surge as local government funds and institutional investors increased their stakes.

Anker Innovations has launched its Hong Kong IPO, aiming to raise up to HKD 4.63 billion. The company plans to list on the Hong Kong Stock Exchange on July 2, offering 46.63 million shares at a maximum price of HKD 99.32 per share.

<a href="/industry/autonomous-vehicles">Autonomous driving</a> company Momenta has cleared its Hong Kong IPO hearing. The firm, which reported revenue growth from RMB 743 million in 2023 to RMB 2.41 billion in 2025, plans to raise about USD 1 billion. It holds more than RMB 10 billion in cash reserves to support global expansion in world-model R&amp;D, autonomous mobility, and autonomous logistics.

Kingly Gear has filed for an IPO on the Beijing Stock Exchange. The micro-transmission manufacturer reported 2025 revenue of RMB 796 million and net profit of RMB 76 million. The company faces scrutiny over pre-IPO dividends totaling RMB 32 million and high customer concentration, with more than 53% of revenue coming from five major clients.

CITIC Securities projects the global PCIe switch market will reach RMB 30 billion by 2028, driven by AI-related demand for channel expansion. The firm estimates the domestic market for computing chip support will reach RMB 7 billion, more than double the 2026 level, as domestic substitution remains in its early stages.

At least four Chinese <a href="/industry/ev">EV</a> manufacturers are exploring manufacturing partnerships in Canada, according to industry minister Melanie Joly. After meetings with <a href="/company/byd">BYD</a>, <a href="/company/chery">Chery</a>, <a href="/company/geely">Geely</a>, and Longchuang, Joly said any joint ventures must be Canadian-controlled and use local supply chains.

<a href="/company/jd">JD.com</a> founder Richard Liu said robots will eventually replace 700,000 delivery workers in China, according to the Financial Times. The company is testing experimental versions of the automated delivery model.

Taobao Shangou has launched Jiayan, a high-end delivery service featuring Michelin-starred restaurants in Chengdu and Shenzhen. The service offers curated banquet-style meals with specialized packaging and dedicated delivery protocols. Taobao plans to expand the project to Beijing, Shanghai, and Hangzhou by August.

HKEX plans to launch five-year China government bond futures on August 3, subject to regulatory approval and market readiness. The new product is intended to give offshore investors a tool to manage RMB interest rate risk, expanding the exchange’s RMB product ecosystem and strengthening Hong Kong’s role as an offshore RMB hub.

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SenseTime co-founder Wang Xiaogang discusses the complexity of embodied intelligence through the lens of ACE Robotics.

Why world models alone will not solve robotics’ deployment problem

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Geely, a Chinese automaker, integrates advanced engineering, EV tech, and international brand acquisitions to expand its global footprint.

Zeekr crafts premium electric vehicles with smart connectivity, performance enhancements, and sleek luxury appeal for modern drivers.

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The high-end EV brand aims to offset weak sales in China through its overseas push.

Geely seeks to double Zeekr sales abroad, eyeing Malaysia output

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The railway platform already controls China’s largest travel user base, giving it a natural advantage if it expands further into hotels and tourism.

DeepSeek seeks USD 7 billion funding

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