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Nayuki Holdings, the company behind Chinese tea chain Naixue, has been ordered by a Beijing court to pay Pop Mart RMB 320,000 for unfair competition. …

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Nayuki Holdings, the company behind Chinese tea chain Naixue, has been ordered by a Beijing court to pay <a href="/company/pop-mart">Pop Mart</a> RMB 320,000 for unfair competition. The ruling follows a 2025 marketing campaign in which Nayuki used Pop Mart’s Labubu IP without a formal partnership. The court rejected Nayuki’s defense that a small disclaimer on promotional materials exempted it from liability.

Heytea has opened its first overseas tea bar in Manhattan’s Upper East Side, New York. The brand previously established the concept in Beijing, Guangzhou, Shenzhen, and Foshan.

Transsion Holdings reported a 53.49% decline in 2025 net profit to RMB 2.58 billion, as revenue fell 4.5% to RMB 65.59 billion. Facing increased competition in African smartphone markets, the company is expanding into energy storage through new brand launches and its existing distribution network.

The operator of Seesaw Coffee is facing bankruptcy liquidation petitions filed by creditors. The boutique coffee chain, once valued at RMB 1 billion, now operates only 34 stores in China. The company has faced multiple legal disputes, including unpaid debts and restricted consumption orders against founder Wu Xiaomei.

<a href="/company/bytedance">ByteDance's</a> Doubao plans to launch a professional version covering software development, data analysis, design, process automation, financial analysis, and scientific research. The move aims to shift the <a href="/industry/ai">AI</a> assistant from a casual tool to a workplace productivity platform, mirroring OpenAI’s Codex strategy of monetizing professional-grade agent capabilities.

GLB Intelligent Power Technologies has filed for an IPO on the Hong Kong Stock Exchange. The company reported 2025 revenue of RMB 3.63 billion, with 87.2% of its income coming from its largest shareholder, Geely. GLB provides electric powertrain and high-voltage power supply solutions for the EV sector.

Origin Quantum has completed a pre-IPO funding round of nearly RMB 3 billion, valuing the company at RMB 21 billion. The round was led by China North Industries Group Corporation. Origin Quantum plans to use the capital to develop 1,000- and 10,000-qubit quantum chip pilot lines and advance production of its next-generation superconducting quantum computers.

Gree Electric’s largest shareholder, Zhuhai Mingjun, sold 42.79 million shares on June 4, 2026, generating about RMB 1.66 billion. The company said the divestment is intended to repay bank loans. Following the transaction, Zhuhai Mingjun and its concerted party, Dong Mingzhu, hold a combined 17.35% stake in the appliance manufacturer.

<a href="/company/bytedance">ByteDance</a> issued a statement on June 6 denying plans to manufacture vehicles or launch an automotive brand. The company clarified that Saidou is not affiliated with it and that its automotive partnerships are limited to providing technical services, including the Doubao model, related solutions, and smart cockpit technology.

<a href="/company/dreame">Dreame</a> founder Yu Hao said the company ranked first globally in robot vacuum sales volume and revenue in Q1 2026. In an internal memo, Yu said Dreame will maintain its focus on manufacturing, technical innovation, and R&amp;D investment to address user needs globally.

Zeekr delivered 34,377 vehicles in May, an 81.8% YoY increase, while its average transaction price rose 52.4% to more than RMB 360,000. The company attributed the growth to demand for flagship models including the 9X and 8X, as it expands across more than 50 countries and regions.

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BYD, a Chinese EV maker, produces electric cars, buses, and batteries, accelerating adoption of sustainable transportation worldwide.

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The EV maker hopes its in-house strategy will help cut costs and break an eight-month sales slump.

BYD's new self-driving chip fails to dispel investors' growth concerns

BYD&#8217;s new self-driving chip fails to dispel investors&#8217; growth concerns

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Li Auto develops electric vehicles that combine smart cockpit systems, advanced safety features, and long-distance battery support.

The continued price war in China drags the automaker’s margin into single digits.

Li Auto's luster fades with record quarterly loss, raising export stakes

Li Auto&#8217;s luster fades with record quarterly loss, raising export stakes

Meituan, China’s all-in-one local services platform, covers food delivery, travel bookings, and lifestyle deals, simplifying daily consumer choices.

Xiaoxiang Supermarket leverages digital channels to deliver groceries and essentials directly to local consumers’ doorsteps.

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After a costly fight for food delivery orders, the company is shifting attention to better economics, service retail, and Xiaoxiang Supermarket.

Meituan’s reset starts with narrower delivery losses

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Nayuki ordered to pay Pop Mart

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BYD’s new self-driving chip fails to dispel investors’ growth concerns

Li Auto’s luster fades with record quarterly loss, raising export stakes

Meituan’s reset starts with narrower delivery losses