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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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Raising about HKD 6.8 billion in a heavily subscribed offering, the company is pitching its world model as the foundation for physical AI applications.

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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.

Tencent Cloud and RoboScience signed a partnership on July 15 to develop integrated infrastructure for embodied intelligence. The companies plan to build a cloud-based embodied intelligence service that supports data collection, collaborative annotation, model training, and commercial deployment.

<a href="/company/xpeng">Xpeng</a> has completed local validation of its second-generation VLA model in Germany. The system can recognize European road signs and adapt to local traffic rules and right-of-way systems, marking a step in the company’s overseas rollout of smart driving technology.

Former Hungarian foreign and trade minister Peter Szijjarto has joined <a href="/company/byd">BYD</a> to lead external relations and business development. Szijjarto, who resigned from parliament, previously advocated for Chinese <a href="/industry/ev">EV</a> investment in Hungary. BYD is building its first European passenger car factory in Szeged, where vehicle assembly is scheduled to begin in Q4.

ChangXin Memory Technologies (CXMT) launched its Star Market IPO on July 16, raising about RMB 57.9 billion. The offering is the largest in the exchange’s history, surpassing SMIC's previous record. The company plans to allocate RMB 29.5 billion to DRAM production upgrades and R&amp;D, with the remainder treated as excess proceeds.

<a href="/company/bytedance">ByteDance</a> and ZTE’s Nubia will reportedly release multiple Doubao-embedded smartphone models this year. One device is expected to debut at the World Artificial Intelligence Conference, with total planned inventory of about 200,000 units and first-batch inventory below 100,000 units.

<a href="/company/bytedance">ByteDance</a> reportedly canceled its first-generation Doubao <a href="/industry/ai">AI</a> glasses, which had been slated for release in April. The company now plans to launch two second-generation models in the second half of 2026, including a full-function version and a lightweight version weighing about 20 grams.

ChangXin Memory Technologies (CXMT) is developing its fifth-generation process platform, using optimized multi-exposure techniques to improve storage density and array performance. The company plans to open online subscriptions for its STAR Market IPO on July 16 at RMB 8.66 per share, implying a valuation of RMB 579.18 billion.

Social app Soul is expected to unveil its first portable AI hardware product at the World Artificial Intelligence Conference on July 17. The device is positioned around emotional companionship and integrates Soul’s proprietary SoulX model for voice interaction, emotional expression, and digital personality features.

<a href="/company/byd">BYD</a> said on July 14 that the detachment of a rear motor assembly from a Tang SUV was caused by severe chassis impact while the vehicle was driving through floodwater, not a product quality defect. The response followed viral footage showing the vehicle dragging the motor assembly through flooded streets in Shenyang.

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.

Photo shows Wu Xinhong (center) and Chen Jianyi (second from left) at the 2026 Meitu Multimedia Festival.

Products that grow organically tend to have stronger staying power.

For Meitu, the next AI product may come from data, passion, or both

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How does automation advance industry? Analyze robotic arms, drones, and AI-driven tools reshaping manufacturing and services.

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The company aims to define a new personal robot category before the market matures.

Through Qiyuan, Swancor wants to make personal robots widely affordable

Miniso sells low-cost lifestyle goods, home essentials, and personal care items, making everyday products accessible to broader markets.

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The Chinese discount lifestyle retailer plans to use original IP to fuel growth.

Miniso banks on finding the next Labubu as it opens 100 US stores

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Alibaba bids USD 1.5 billion for Pupu

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For Meitu, the next AI product may come from data, passion, or both

Through Qiyuan, Swancor wants to make personal robots widely affordable

Miniso banks on finding the next Labubu as it opens 100 US stores