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Enflame Technology is set to open subscriptions for its Star Market IPO on September 2, seeking to raise RMB 6 billion for AI chip R&amp;D and related…

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Enflame Technology is set to open subscriptions for its Star Market IPO on September 2, seeking to raise RMB 6 billion for AI chip R&amp;D and related infrastructure. Tencent is its largest external shareholder and customer, accounting for 83.79% of revenue in 2025. Enflame remains loss-making despite rapid revenue growth.

<a href="/company/li-auto">Li Auto</a> delivered 37,679 vehicles in August, up 32.1% YoY. Cumulative deliveries reached 1,801,834 vehicles as of August 31.

<a href="/company/nio">Nio</a> delivered 35,836 vehicles in August, up 14.5% YoY. Year-to-date deliveries reached 262,893 units, up 57.9%, while cumulative deliveries totaled 1,260,485 as of August 31.

Didi launched driverless passenger testing for its R2 robotaxi on August 31 in selected areas of Beijing and Guangzhou. Developed with GAC Aion, the R2 uses Didi’s proprietary Level 4 autonomous driving hardware and software stack.

4Paradigm will reportedly spend more than RMB 1 billion on Huawei Ascend 950 chips to support AI model deployment in finance, manufacturing, and other sectors. The company reported H1 2026 API revenue of RMB 464 million, up 860.8% YoY, while its outstanding orders totaled about RMB 7 billion.

<a href="/company/huawei">Huawei</a>, <a href="/company/xiaomi">Xiaomi</a>, and <a href="/company/honor">Honor</a> raised prices on several smartphone models on September 1. Affected products include Huawei’s Mate 80 series, Honor’s Power2 and Magic8, and Xiaomi’s Xiaomi 17 and Redmi K90 series. The companies cited higher component costs, while industry reports have pointed to rising memory and processor prices.

Z.ai reported an H1 2026 net loss of RMB 2.07 billion, narrowing 12.1% YoY. Revenue surged 399.7% to RMB 954 million, with cloud deployment revenue accounting for 86.5% of the total. R&amp;D spending rose 33.6% to RMB 2.13 billion as the company continued developing its GLM model series.

Horizon Robotics reported H1 2026 net profit attributable to shareholders of RMB 3.78 billion, reversing a loss a year earlier. Revenue rose 32.9% YoY to RMB 2.06 billion, supported by a 52.7% increase in licensing and services revenue. Gross margin remained at 66%, while the company maintained the leading share of China’s intelligent driving computing platform market.

Momenta reported H1 2026 revenue of RMB 1.6 billion, up 76% YoY. Adjusted net loss narrowed 97% to RMB 14.1 million, while cash reserves exceeded RMB 15 billion following its July IPO.

<a href="/company/li-auto">Li Auto</a> will launch its updated Li Mega MPV on September 2. CEO Li Xiang said the MPV market is reaching a technological turning point driven by <a href="/industry/ev">EV</a> architecture. The new model features four solid-state LiDAR sensors, up from one, and adopts semi-hidden door handles.

<a href="/company/meituan">Meituan's</a> international food delivery platform Keeta reportedly achieved positive unit economics in Saudi Arabia in July, about 22 months after entering the market. The company has applied experience from its China operations in logistics and merchant digitization, while higher average order values and established delivery habits have supported its expansion.

Photo shows Galbot G1 robots deployed for the opening ceremony of the 2026 World Humanoid Robot Games.

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Rules aim to reshore production, but companies warn of higher costs and delays.

US robot curbs lay bare industry's dependence on Chinese parts

US robot curbs lay bare industry&#8217;s dependence on Chinese parts

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Photo shows Z.ai’s new branding displayed on the exterior of the Sohu Network Building, where the company is headquartered, following the launch of GLM 5.2.

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Foundation and Large Models

Once overshadowed by DeepSeek and MiniMax, Z.ai found momentum by narrowing its focus and building a stronger position in coding.

Inside Z.ai’s turnaround after falling behind in enterprise AI

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Enflame set for Star Market subscription

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US robot curbs lay bare industry’s dependence on Chinese parts

Inside Z.ai’s turnaround after falling behind in enterprise AI

Deals in brief: Bioactivx raises pre-Series A funding, SMBC and Singtel Innov8 back fileAI, latest China investments, and more