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Huawei will open preorders for the Stelato G9 on August 5. The luxury SUV features an integrated electric roof tent, a tailgate kitchen, and an 800-vo…

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Huawei will open preorders for the Stelato G9 on August 5. The luxury SUV features an integrated electric roof tent, a tailgate kitchen, and an 800-volt extended-range powertrain with a CLTC range of more than 1,300 kilometers.

Unitree Robotics plans to raise RMB 4.2 billion in its upcoming Star Market IPO. Market estimates value the robotics company at more than RMB 40 billion, with an expected share price of about RMB 104. Subscription opens on August 10, with payment due by August 12.

Agibot has started its Hong Kong IPO process. The humanoid robotics company, valued at more than RMB 20 billion, shipped 5,100 units in 2025 and holds an estimated 39% global market share. The company is restructuring its leadership team ahead of the planned listing.

<a href="/company/alibaba">Alibaba</a> launched its Qwen-Image-3.0 image generation model on the Qwen <a href="/industry/ai">AI</a> platform on August 5. The company released Pro and Standard versions, with API access available to all users. Pricing for text-to-image generation starts at RMB 0.18 per image, and international users can access the service through QwenCloud.

DeepSeek has restarted its second funding round, targeting RMB 50 billion at a pre-money valuation of RMB 500 billion. The company aims to finalize the deal by late August. DeepSeek previously closed a RMB 50 billion round in June at a valuation above RMB 350 billion.

Jingze Biopharmaceutical has filed for a Hong Kong IPO for the third time as it faces severe liquidity pressure. Although its fertility drug JZB30 was approved in April 2025, the company has yet to generate commercial revenue. It has RMB 81 million in cash and more than RMB 1.9 billion in total liabilities, while facing production delays and shareholder redemption obligations.

<a href="/company/byd">BYD's</a> Fangchengbao brand reached 500,000 cumulative vehicle sales as it marked its third anniversary on August 5. The brand, which launched its first model in 2023, reported 41,213 sales in July, up 190.6% YoY.

<a href="/company/xiaomi">Xiaomi</a> officials denied reports that the launch of its second-generation <a href="/industry/ai">AI</a> glasses has been delayed to Q4 or next year. The company dismissed the claims as false after rumors that executive Lu Weibing had halted the project to request design changes.

TSMC plans to outsource portions of its chip-on-wafer (CoW) packaging process to suppliers including ASE to meet surging AI chip demand from companies such as Nvidia, AMD, and Broadcom. The move is intended to ease bottlenecks for TSMC, which reportedly holds about 90% of the global AI chip manufacturing market.

The Trump administration is debating possible restrictions on open-source AI models following the rise of Chinese competitors such as Moonshot AI’s Kimi. Officials considered sanctions and trade blacklists before shifting focus toward boosting US competitiveness after pushback from Silicon Valley companies, including Nvidia, which argue open-source models support innovation.

GPU maker MetaX has launched a RMB 200 million venture fund, with its subsidiary contributing RMB 36 million. The move follows a broader trend of major technology companies entering the primary market as limited partners to invest in startups.

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Growth in ride-hailing orders and technology services drove the expected improvement.

OnTime Mobility operator expects first-half revenue to more than double as losses narrow

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Luckin Coffee provides app-based ordering, convenient pickup, and a broad beverage menu, reshaping China’s coffee consumption patterns.

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The company expects margins to improve as delivery subsidies normalize and operating efficiency increases.

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Aapico's chief says Beijing will “win the war."

Collaborate with Chinese EV makers or suffer, Thai automotive firm CEO warns

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Stelato G9 preorders start August 5

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OnTime Mobility operator expects first-half revenue to more than double as losses narrow

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Collaborate with Chinese EV makers or suffer, Thai automotive firm CEO warns