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… part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

China launches "action plan" to spur consumption, lock in retail upswing

Retail

Consumer Services

Hong Kong

… wireless Bluetooth earbuds, it’s only natural for hardware giants to enter this space,” said a former engineer from a leading international tech company.
<h3>Consumer-grade hearing aids: A chance for newcomers?</h3>
As AI levels the playing field by narrowing the technology gap, could the new generation of hearing aid companies get closer to challenging the dominance of the “big five?”
One potential advantage lies in the increased public awareness of hearing aid products after years of market education by industry pioneers. For instance, some e-commerce insiders have observed a decline in the number of consumers opting for low-cost sound amplifiers and a growing preference for professionally fitted hearing aids.
Meanwhile, the emergence of new manufacturers provides consumers with more choices, including the popularity of over-the-counter (OTC) hearing aids.
To understand this shift, it’s essential to consider the revenue model of hearing aids. The primary distinction between medical- and consumer-grade products is whether professional fitting is required. Medical-grade hearing aids are typically purchased from brick-and-mortar stores, where audiologists fine-tune the device to match the user’s individual needs. This process can take three to six months. In contrast, consumer-grade hearing aids can be bought and used directly online.
Price-wise, industry insiders generally consider RMB 4,000 (USD 560) as the dividing line. Medical-grade hearing aids from the “big five” typically sell for RMB 5,000–40,000 (USD 700–5,600) per unit (with potential discounts), while top-tier Chinese brands sell for RMB 5,000–20,000 (USD 700–2,800). Meanwhile, consumer-grade hearing aids are priced RMB 1,500–4,000 (USD 210–560).
The significant price gap is partly due to the cost of professional services. “Compared to consumer-grade products, medical-grade hearing aids incorporate more advanced algorithms and applications, making the hardware cost slightly higher. But to be honest, the cost difference alone doesn’t justify a tenfold increase in price. Much of the price difference is attributed to the value added by professional services,” the former engineer said.
Although there have been voices within the industry suggesting that products and services should be charged separately, this is difficult for manufacturers to implement, as there is limited acceptance of medical service fees in China.
Some manufacturers believe that by eliminating this cost, consumer-grade hearing aids can potentially capture a share of the market through a low-cost strategy veering close to the RMB 1,000 range.
For example, iFlytek mentioned in its prospectus that revenue from its smart hardware segment reached approximately RMB 6.2 million (USD 868,000) in the first half of 2022 and surged to RMB 29 million (USD 4.1 million) in the first half of 2023, driven in part by the launch of its hearing aid product in May 2022. As of early this year, iFlytek’s registered smart hearing aid users have reportedly exceeded 110,000.
However, opting for the consumer-grade route doesn’t guarantee success. In Liang You’s view, the ability to purchase and fit hearing aids independently does not absolve manufacturers of the need to provide professional support.
“Since these are still hearing aids, companies must offer follow-up services to ensure that the product does not harm the user’s hearing during use. Moreover, when users encounter issues, manufacturers should be ready to provide remote assistance,” Liang You said.
Wang echoed this sentiment, stating that while consumer-grade hearing aids will “undoubtedly become an integral part of the market,” current products still fall short of fully replacing professional audiologists. “They can handle some basic functions like hearing assessment, fitting, and usage, but they are still a long way from acting as virtual audiologists capable of providing comprehensive services.”
At the end of the day, while hearing aids carry a “medical” label, purchasing decisions are heavily influenced by individual consumer preferences and needs. In the short term, the market structure dominated by the “big five” is unlikely to be disrupted. However, in the longer term, factors such as product pricing, the development team’s understanding of the language environment, and the quality of after-sales service will likely become key differentiators.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3217264068234115">article</a> was written by Hu Xiangyun for 36Kr.

Can AI finally help hearing aids deliver in noisy environments?

Artificial Intelligence

Deep Tech

Artificial intelligence

… not to pioneer an entirely new field but to perfect an existing niche. From this perspective, Sharge’s products may not be groundbreaking or radically daring. Yet, through relentless focus and attention to detail, the company managed to rise above Shenzhen’s hardware sector—often referred to as a “graveyard” for aspiring companies.
Sharge’s future, however, is not without its challenges. As battery material costs continue to decline, the cost of power bank production is expected to drop, intensifying price competition in the short term. To counter this, Sharge intends to maintain its high-end positioning while expanding its product portfolio.
One area of focus is power solutions for photography equipment and drones, where reliable, high-performance charging is critical. Another growth avenue is the burgeoning sector of AI-powered hardware, where battery life is becoming a pressing concern.
“As demand for computing power grows, power supply will likely become a bottleneck,” Zhang said. Sharge is already developing specialized chargers for AI-driven products, including wearable power banks that free up users’ hands and dedicated charging equipment for AI devices.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3221518797294721">article</a> was written by Huang Nan for 36Kr.

This company sells power banks and chargers that cost twice as much—and still has a cult following

Batteries

Energy

… they are pulling off some truly cool moves!
Compared to cooperative games like Overcooked, Split Fiction’s difficulty remains well within a manageable range. Overcooked’s chaotic gameplay often exhausts players after just a few rounds, while Split Fiction consistently gives players the feeling that one more try will suffice.
Another detail worth noting: Hazelight avoids back-to-back difficult levels.
After solving a challenging section that requires quick reflexes or problem-solving, the game usually follows with a relaxing interlude—whether it’s a simple lock-pulling task or bouncing between strong adhesive platforms. This design approach keeps players immersed in a state of flow, while a steady stream of positive reinforcement strengthens the bond between them.
<h3>Outstanding cinematic storytelling, but…</h3>
Fares, despite his background as a film director, still struggles to break free from formulaic and conventional storytelling in Split Fiction. The result is a script that feels like a cookie-cutter Hollywood blockbuster, paired with a narrative that lacks the immersive depth found in top-tier interactive storytelling.
The game’s two protagonists are a pair of complementary writers. One is a reserved, realist sci-fi enthusiast, and the other an extroverted, romantic fantasy lover. Through their unexpected adventure, they gradually understand each other and forge a deep friendship. Along the way, they also confront and heal the wounds left by their dysfunctional childhoods.
Ironically, despite Fares’ infamous rant against the Oscars at TGA, Split Fiction’s story feels no different from the predictable plots of mainstream Hollywood films.
But the bigger issue lies in the game’s narrative approach.
Although the game’s cinematic storytelling is visually spectacular—complete with thrilling chase sequences, explosions, hijackings, last-second rescues, and perfectly timed camera work—it ultimately relies too heavily on cutscenes. Unfortunately, this comes at the expense of interactive narrative, marking a regression from its predecessor.
Interactive storytelling occurs when the narrative unfolds through gameplay. In The Last of Us, for example, Joel and Ellie’s journey gradually deepens their bond through shared challenges, ultimately leading to Joel’s morally complex decision to save Ellie over the world. Without this, the narrative would merely be a typical Hollywood road movie.
The magic of interactive storytelling lies in the moments where Ellie saves Joel from danger, offers helpful hints during puzzles, or shares heartfelt conversations during quiet moments. This continuous companionship during gameplay allows players to empathize with Joel’s final decision.
It Takes Two achieved a similar narrative effect.
In the game, May and Cody’s marriage was on the brink of collapse. The game subverted traditional gender roles: May was the breadwinner and family provider, while Cody was a stay-at-home dad managing household chores. This character dynamic was consistently reflected in the game’s mechanics. May wielded the hammer, handling combat, while Cody used the nails, focusing on support. Throughout the game, their division of labor reinforced this theme, making the emotional stakes resonate deeply with players.
However, Split Fiction falls short in this regard.
The introverted-extraverted dynamic between Mio and Zoe is barely reflected in the gameplay. Their contrasting personalities—one impulsive and the other cautious—only emerge through cutscenes and dialogue. With a weaker connection between narrative and gameplay, the abundance of cutscenes becomes an opportunity for players to check their phones. As a result, the emotional connection to the two protagonists is far less impactful than what players experienced with May and Cody.
<h3>Is there room left for Hazelight to innovate?</h3>
All in all, even amidst a crowded 2025 release schedule, Split Fiction has secured a likely spot in the TGA nominations. Hazelight’s mastery of the split-screen co-op genre remains unmatched, and the creativity showcased raises expectations for its next project.
However, it’s important to acknowledge that no matter how expansive the gameplay mechanics are, there’s always a limit.
The real challenge lies in stitching together diverse mechanics without making the experience feel disjointed—and ideally, adding a fresh twist. As the game progresses into the later chapters, especially the fourth and fifth chapters, a noticeable sense of repetition begins to creep in.
The constant high-paced gameplay can also lead to fatigue and information overload for some players. Hazelight has now leaned on this approach of “throwing everything at the player” across three consecutive games, relying on an overwhelming variety of mechanics to sustain the feeling of novelty.
As the saying goes, the third time’s the charm. If Hazelight’s next co-op game continues down this path—exploring every conceivable gameplay style to keep players engaged—it begs the question: is there any room left to innovate?
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3222734297566088">article</a> was written by Xue Dexing for 36Kr.

Split Fiction keeps co-op gaming fresh, but Hazelight may be running out of tricks

Gaming

Creative

… href="https://36kr.com/p/3230135793106055">article</a> was written by Li Anqi for 36Kr.

Li Auto overhauls sales division to chase higher delivery numbers

Li Auto

East Asia

Transportation

Electric Vehicles

Mobility

… published by 36Kr. This <a href="https://36kr.com/p/3220102883806344">article</a> was written by 36Kr Caijing.

Small-town travelers are powering China’s next travel boom

Travel

Malaysia's big state-linked funds will increase their investments in local startups and venture capital companies to promote the government's goal of building a resilient domestic economy in the face of external headwinds, according to a government minister.
Second finance minister Amir Hamzah Azizan told Nikkei Asia in an interview that pension fund Employees Provident Fund, state sovereign wealth fund <a title="" href="https://asia.nikkei.com/Business/Finance/Malaysia-state-fund-Khazanah-to-widen-portfolio-as-profit-drops-13" target="_blank" rel="noopener">Khazanah Nasional Berhad</a>, and investment management company Permodalan Nasional Berhad will commit an additional MYR 120 billion (USD 27 billion) to private companies, including startups, over the next five years.
"We're encouraging institutional funds to reinvest in Malaysia, not in traditional areas like fixed income or [publicly traded] equities, but in private markets," he said, adding that the government aims to channel this capital into high-growth sectors, such as technology and infrastructure.
The three institutions together manage assets totaling around MYR 1.7 trillion (USD 382.5 billion). The MYR 120 billion in new commitments would add to their usual domestic allocations of MYR 440 billion (USD 99 billion) annually. The move is part of a broader strategy to reduce Malaysia's reliance on foreign direct investment (FDI) and to strengthen its economic resilience as geopolitical risks loom, the minister said.
"This reduces Malaysia's risk exposure because we no longer rely solely on FDI exposures. Instead, we're building a more resilient and diversified economy by leveraging both domestic and foreign investments," Hamzah said.
Malaysia secured a record MYR 378.5 billion (USD 85.2 billion)) in approved FDI last year, an increase of 14.9% versus 2023. "The investments coming in are translating into real economic activity," the minister stressed. However, the outlook for FDI is murky for the Southeast Asian manufacturing hub, especially as US President Donald Trump's protectionist trade policies threaten global economic growth.
Hamzah added that state investors' increased commitments to domestic businesses will help expand Malaysia's financial markets and make its capital markets "more vibrant," adding to the country's growth momentum.
Malaysia's economy <a title="" href="https://asia.nikkei.com/Economy/Malaysian-GDP-growth-meets-target-expands-5.1-in-2024" target="_blank" rel="noopener">grew 5.1% in 2024</a>, up from 3.6% the previous year, thanks to robust household spending. The local stock market has boomed, with <a title="" href="https://asia.nikkei.com/Business/Markets/Trading-Asia/Malaysia-expects-its-remarkable-IPO-boom-to-continue-in-2025" target="_blank" rel="noopener">more companies going public</a> last year.
"The energy level in the country has surged," the minister said. "People are spending, investing, and businesses are expanding. This is how we know we're on the right track."
Through domestic investments from state funds, Hamzah said the government is looking to diversify Malaysia's economic drivers, expanding the <a title="" href="https://asia.nikkei.com/Business/Tech/Semiconductors/Malaysia-moves-up-value-chain-with-first-semiconductor-park" target="_blank" rel="noopener">semiconductor</a>, artificial intelligence, and data center industries, while continuing to develop traditional sectors such as tourism.
He said that even against a backdrop of economic uncertainty, Malaysia continues to benefit from supply chain shifts in industries like semiconductors. "Malaysia has always been an open trading economy, and this reflects the strengths of Malaysia's ecosystem. As global supply chains realign, it's only natural for Malaysia to become a preferred destination," Hamzah said.
He also said that by inviting businesses that bring added value to the country and expanding their capacities, Malaysia is building a more resilient economic framework. "This resilience will be what carries us through uncertainties and challenges."
This article first appeared on <a href="https://asia.nikkei.com/Business/Startups/Malaysia-s-state-funds-to-boost-investment-in-local-startups2">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Malaysia's state funds to boost investment in local startups

Venture Capital

Investment

Malaysia

… sharper environmental awareness, and faster reaction times. But overmarketing these features—or rushing to outdo competitors—can backfire. When expectations outpace performance, safety risks and product quality issues aren’t far behind.
Automakers have a responsibility to clearly communicate what their systems can—and cannot—do. Being called an “industry leader” or having a “tier-one stack” doesn’t change the fundamentals if the tech can’t hold up in real-world conditions.
For Xiaomi and others, a surge in orders may reflect consumer trust. But in an industry under the spotlight, public attention cuts both ways. Staying grounded, setting realistic expectations, and pacing product development accordingly may be the only way forward in a market where buzz alone won’t keep you ahead.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3231280661314948">article</a> was written by Xu Caiyu for 36Kr.

Three dead in SU7 crash: Fatal accident renews scrutiny of smart driving safety

Xiaomi

Autonomous Vehicles

… href="https://36kr.com/p/3224908715539591">36Kr</a></li>
<li aria-level="1">RoboCT, which focuses on exoskeleton robotics and brain-computer interface (BCI) products, has completed a near RMB 100 million (USD 14 million) Series B funding round. The round was led by Wuxi Capital Group, with Haoyue Capital acting as financial advisor. RoboCT will channel the proceeds into R&amp;D for exoskeletons and BCI products, facility expansion, and global market development, with a focus on rehabilitation, elder care, and consumer applications. —<a href="https://36kr.com/p/3222526561422466">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Volve Creative, RockFlow, Agibot, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://volve.tokyo/">Volve Creative</a>, a Tokyo-based entertainment tech startup, raised an undisclosed amount of pre-seed funding in a round that drew backing from Asu Capital Partners, MIXI, and Ken Soga.</li>
<li aria-level="1">RockFlow, a startup based in Singapore, raised USD 10 million in a Series A1 funding round. The funding came from a mix of new and existing investors, whose names remain undisclosed.</li>
<li aria-level="1">Agibot, a Shanghai-based robotics startup, reportedly raised a nine-figure RMB sum in a Series B funding round led by Chinese tech giant Tencent. The round also drew participation from Lanchi Ventures (formerly the China arm of BlueRun Ventures), Longcheer Technology, Wolong, and Zhuhai Huafa Group.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Nul debuts with Wavemaker Impact backing, SkyeChip and Betterteem raise funding, Qualcomm snaps up VinAI’s generative AI unit, and more