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Alibaba is said to be bidding USD 1.5 billion to acquire Chinese fresh food delivery platform Pupu. The offer is reportedly more than double a previou…

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<a href="/company/alibaba">Alibaba</a> is said to be bidding USD 1.5 billion to acquire Chinese fresh food delivery platform Pupu. The offer is reportedly more than double a previous valuation proposed by Sun Art Retail.

Seres expects a net loss of RMB 1.5–1.8 billion for H1 2026, reversing a profit of RMB 2.94 billion a year earlier. The company attributed the decline to rising prices for storage chips, industrial metals, and lithium carbonate, as well as asset adjustments linked to technology and model upgrades.

<a href="/company/byd">BYD</a> said cumulative new energy vehicle deliveries in Thailand surpassed 130,000 units as of July 12. The milestone coincided with the second anniversary of its Rayong plant, its first overseas passenger vehicle production facility, and the local launch of the Sealion 5 DM-i.

<a href="/company/shein">Shein</a> is seeking to list in Hong Kong as soon as August and raise up to USD 3 billion after securing approval from China’s securities regulator.

DRAM manufacturer ChangXin Memory Technologies (CXMT) will open subscriptions for its Star Market IPO on July 16, aiming to raise RMB 29.5 billion. The offering is the largest A-share IPO of 2026 and the second-largest in the STAR Market’s history. The company projects H1 2026 revenue of RMB 110–120 billion, driven by rising demand for AI-related memory products.

CaoCao Mobility launched commercial operations for its first robovan autonomous logistics vehicles in Changsha, Hunan, on July 15. The vehicles support last-mile delivery, store replenishment, warehouse transfers, and intracity freight. CaoCao plans to deploy 100,000 robovans by 2030.

Former Breo COO Zheng Xiaoya has joined robot vacuum maker Narwal as head of its China business. Zheng will oversee domestic marketing and online retail operations, filling a position left vacant after the previous China head departed in late 2025.

<a href="/company/shein">Shein</a> executive chairman Donald Tang will step down from his role as the company nears an IPO. Tang, who served as the fast fashion retailer’s public face for three years, will move into a senior advisory role.

Temu has introduced free shipping on all orders in Singapore with no minimum spending requirement. The move removes delivery fees and order thresholds as the e-commerce platform expands in the local market.

<a href="/company/deepseek">DeepSeek</a> is preparing for an IPO and could file an application by the end of 2026 or in early 2027. The company is working with accounting firms to complete its financial reports by December and is exploring a funding round that could value it at about USD 71 billion.

Hello is implementing an agentic <a href="/industry/ai">AI</a> strategy to improve internal efficiency and user experience. The company said its AI coding tools increased development efficiency by about 50% in complex scenarios and more than 67% in new projects. Hello has developed more than 400 AI applications for users and internal workflows.

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ZKH Industrial Supply targets MRO bottlenecks facing Chinese manufacturers in Southeast Asia

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The Hong Kong listing marks the foundry's latest milestone.

China's Nexchip has global ambitions as legacy chips thrive in AI's shadow

China&#8217;s Nexchip has global ambitions as legacy chips thrive in AI&#8217;s shadow

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Alibaba bids USD 1.5 billion for Pupu

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ZKH Industrial Supply targets MRO bottlenecks facing Chinese manufacturers in Southeast Asia

China’s Nexchip has global ambitions as legacy chips thrive in AI’s shadow

Deals in brief: BlueOrchard backs Malaysia’s PolicyStreet, PixVerse extends Series C round, Ant Group acquires stake in Boohee Health, and more