Alibaba

ByteDance

CATL

Huawei

Meituan

Tencent

Xiaomi

Most Followed

KrASIA Connection

Venture Roundup

Earnings Reports

China's Auto Sector

Inside China's Startups

100 AI Creators

View All

Collections

News

Features

Insights

Ecosystem

Press Releases

DeepSeek

Li Auto

Luckin Coffee

Mixue Bingcheng

Pop Mart

Xpeng

On the Radar

Events

Latest

About

Consumer

Robotics

Fintech

Collaborate

… Mandarin word for “security” appears 12 times, underscoring its importance.
This emphasis aligns with international debates on explainable AI and responsible AI.
Several new rules were also introduced this year:
<ul>
<li aria-level="1">On March 14, the Cyberspace Administration of China (CAC), the Ministry of Industry and Information Technology, the Ministry of Public Security, and the National Radio and Television Administration issued measures to regulate AI-generated content, effective September 1. All AI-generated text, images, audio, video, and virtual scenes must carry visible and invisible digital watermarks. Platforms must flag such content, apps require compliance reviews, and users must declare AI-generated posts. Altering or removing marks is prohibited.</li>
<li aria-level="1">On March 21, CAC and the Ministry of Public Security released new rules for facial recognition technology, effective June 1. These limit use to necessary, consent-based contexts, with special protections for minors. Data must be stored locally and retained only for set periods. Facial recognition cannot serve as the sole verification method, and alternatives must be available. Collection in private spaces is prohibited, and encryption standards are mandated.</li>
</ul>
China’s first national AI strategy was released in 2017. Compared with that document, the latest State Council opinions are more targeted and systematic. They emphasize integration across six domains and address practical challenges such as fragmented applications and low open-source participation.
By tailoring strategies for each sector, the policy sets out a roadmap for embedding AI into the fabric of China’s modernization.
This <a href="https://mp.weixin.qq.com/s/JhXtJ_b3VGD2PNSXj4zcjg">article</a> was adapted based on a feature originally written by Synced (<a href="http://jiqizhixin.com">jiqizhixin.com</a>). KrASIA is authorized to translate, adapt, and publish its contents.

Analysis: China’s roadmap to integrate AI across its economy through 2035

Artificial Intelligence

Deep Tech

China

… validation can wipe out the investment. But without pilot-scale testing, lab results remain theoretical.
This is why Zhao believes flexible pilot-scale platforms are essential infrastructure for synthetic biology in China. “Bloomage was among the earliest companies in the country to pursue synthetic biology. We had six pilot lines in Jinan, and even that wasn’t enough,” she said. “Now, with AI and biotech moving so fast, if you don’t have pilot platforms, you can’t scale strains into production. This is the biggest gap in the industry right now.”
Since 2018, Bloomage has invested RMB 3 billion to build a large-scale pilot facility in Binhai, Tianjin. The facility spans fermentation, purification, and refinement modules at multiple scales, allowing several projects to run in parallel. Beyond accelerating Bloomage’s own material development, its modular “drawer-like” design lets external partners use it for pilot validation.
Parts of the facility are already online, supporting cosmetics, food, and pharmaceutical-grade materials. For startups, Bloomage offers not just equipment but also experienced engineers and data models to anticipate challenges, optimize processes, and shorten development cycles. Confidentiality protections mirror practices in the contract research sector, aiming to foster trust and collaboration.
In China, private companies have often driven technological and commercial innovation. Bloomage’s Tianjin pilot plant could serve as the missing link between strain design and industrial-scale fermentation, becoming infrastructure that accelerates the entire sector.
As Zhao put it, Bloomage’s ambition is to stay young:
<blockquote>“Today, Bloomage is not a perfect company, nor do we want to be described as a mature one. In biology, maturity means aging, which means fewer possibilities. We want to remain a youthful company full of possibilities and entrepreneurial spirit. When the bubbles fade, the solid shoreline of science will reappear.”</blockquote>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3453714805282179">article</a> was written by Xiao Xi for 36Kr.

After years of “sleep,” Bloomage faces biotech’s hard realities with a bet on science

Biotechnology

… href="https://36kr.com/p/3468839193303172">36Kr</a></li>
<li aria-level="1"><a href="http://aerospaceservo.com/">Aerospace Servo</a>, a precision servo systems developer, has secured tens of millions of RMB in a Series A+ round led by Landstone Capital, with participation from Junyuan Capital and existing investor Capital X. Proceeds will go toward team expansion, equipment upgrades, and working capital. —<a href="https://36kr.com/p/3467608663758470">36Kr</a></li>
<li aria-level="1"><a href="https://www.jiandanchina.com/">Danfit</a>, an online fitness platform under Winning Tech, has raised an eight-figure RMB sum in a Series B round from Shanghai Youshi Fund and Shanghai Dongchao Investment. The funds will be used to accelerate its expansion in China, enhance its membership services, and explore overseas markets. —<a href="https://36kr.com/p/3467209106150793">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Greenitio, Living Roots, LineWise, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://www.greenitio.com/">Greenitio</a>, a Singapore-based materials startup, raised USD 1.5 million in a seed funding round led by SGInnovate, with participation from Better Bite Ventures, Silverstrand Capital, and several angel investors from the chemicals and cosmetics industries.</li>
<li aria-level="1"><a href="https://roots.ag/">Living Roots</a>, a Thailand-based agritech startup, raised a bridge round to expand the deployment of its platform. The round was led by Epic Angels, with participation from angel investors across Southeast Asia.</li>
<li aria-level="1"><a href="https://www.linewise.io/">LineWise</a>, a Thai-founded startup building a troubleshooting platform for manufacturers, raised USD 1.1 million in pre-seed funding. Investors include Y Combinator, A2D Ventures, Exitfund, Remus Capital, SBXi Fund, and Team Ignite Ventures.</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>.
<style>.addcaption{font-size:14px!important;line-height:20px!important;color:inherit;padding-top:8px;border-top:1px solid #e8e8e8}</style>

Deals in brief: Carro and Dat Bike raise funding, Terra Oleo debuts with seed round, six new China deals, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Vietnam

Southeast Asia

… opened its first overseas outlet in Malaysia in August, marking the start of its international push.
On the supply side, Mixue’s new Hainan production hub began operations in the first half of 2025. The facility, the company’s second largest domestic base after its Wenxian, Henan plant, will serve as an export center for Southeast Asia, producing ingredients including sugar, milk tea, coffee, fruit, and grain. Depending on demand, Mixue may later consider building a plant in South America.
Despite short-term fluctuations in store numbers, Mixue Bingcheng remains the largest Chinese tea brand overseas by scale. Many competitors are still testing their domestic models or treating overseas ventures as marketing exercises rather than long-term supply chain commitments.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://mp.weixin.qq.com/s/ES2hgy7dUrNHYiYD0Cp2nQ">article</a> was written by Zhong Yixuan for 36Kr.

Mixue trims abroad, doubles down at home, and brews up Lucky Cup’s rise

East Asia

Retail

Consumer Economy

… consistency matter more. Robots often rely on more than 20 joints, which must operate seamlessly in sync. Consistency also means that mass produced units perform as reliably as prototypes. These qualities, achieved through systematic testing and manufacturing, form part of the company’s long-term assets.
RobStride’s view is that costs are designed, not managed. Structural design and material processes are optimized to eliminate redundancies and reduce inherent costs. The company also stresses that supply chain partners must earn fair margins, warning that squeezing vendors for short-term savings undermines both quality and delivery.
<figure id="attachment_157356" aria-describedby="caption-attachment-157356" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-157356" src="https://console.kr-asia.com/wp-content/uploads/2025/09/RobStride-02.jpg" alt="Image of the RobStride 02 joint module." width="1920" height="1080" srcset="https://console.kr-asia.com/wp-content/uploads/2025/09/RobStride-02.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/09/RobStride-02-720x405.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/09/RobStride-02-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/09/RobStride-02-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/09/RobStride-02-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/09/RobStride-02-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-157356" class="wp-caption-text">Image of the RobStride 02 joint module. Image source: RobStride Dynamics.</figcaption></figure>
Like other joint module makers, RobStride faces the challenge of customer acquisition. With the market still small, sustainability depends on applications in adjacent industries. Over time, leading robotics companies may build their own joint modules, while AI-focused firms will rely on external suppliers with proven reliability and consistency.
For now, RobStride believes its strength lies in engineering execution. But as technical gaps narrow, its next test will be to establish technological leadership through stronger materials, innovative designs, and a robust developer ecosystem. Together, these may form a competitive moat that is harder to replicate.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3460201869497735">article</a> was written by Fu Chong for 36Kr.

RobStride builds the joints that keep China’s robots moving, and a thriving industry around them

The race to acquire a majority stake in Starbucks’ China business has narrowed to four finalists: Boyu Capital, Carlyle Group, EQT, and HongShan.
According to people familiar with the matter, the firms received confirmation letters from the seller earlier this month. Goldman Sachs, which is managing the process, is expected to select a buyer by the end of October. That decision would conclude a year-long contest that attracted more than a dozen suitors.
Bidders are valuing the business at about USD 5 billion, based on projected 2025 EBITDA of USD 400–500 million, implying a multiple of roughly ten times.
Since reports of a sale first surfaced in late 2024, Starbucks China has drawn interest from investors including KKR, Hillhouse Investment, and PAG. Speculation has centered on valuation and on which firm might prevail. At one point, the process even included a “reverse management roadshow.”
<h3>The shortlist</h3>
Carlyle’s inclusion was widely expected, given its track record with McDonald’s China.
In 2017, McDonald’s sold 80% of its China business for USD 2.08 billion, with Carlyle taking a 28% stake. The chain expanded quickly under the new structure, opening 1,000 outlets within a year. Carlyle exited in 2023, selling its stake back to McDonald’s for USD 1.8 billion and netting about USD 1.2 billion in gains, a 6.7-times return.
The firm has remained active globally, combining acquisitions with timely exits. In early 2025, it consolidated two Indian automotive parts makers, and in 2022, it acquired cosmetics packaging producer HCP Packaging. In China, it has invested in healthcare services provider Meinian Onehealth. With Starbucks, Carlyle could draw on its McDonald’s China playbook, balancing expansion with disciplined exits.
Boyu Capital, known for its discreet but influential role in major transactions, also made the cut. Early in its history, it backed Alibaba’s share repurchase from Yahoo and took part in Sunrise Duty Free’s acquisition.
More recently, Boyu has shifted toward larger buyouts. In May, its fifth US dollar fund acquired a 42–45% stake in Beijing SKP, valuing the luxury mall at USD 4–5 billion. It also bought a majority stake in medical device maker Quasar and a minority stake in pet food retailer Seek. With deeper reserves from new funds, Boyu has broadened its scope from high-profile strategic deals to recurring large-scale acquisitions.
Swedish buyout group EQT is less established in China but has maintained a regional presence. Chairman Jean Salata, who previously led an Asian investment program for Baring Private Equity Partners before merging it into EQT, oversees teams in Hong Kong, Beijing, and Shanghai.
EQT reported USD 15.1 billion in exits in the first half of 2025, relying heavily on M&amp;A over IPOs. It privatized Nord Anglia Education through a consortium, effectively selling to itself and limited partners, and divested healthcare assets including Karo Healthcare. Industry observers note EQT’s emphasis on operational improvements rather than financial engineering. If it secures Starbucks China, it may adopt a more hands-on approach than its rivals.
HongShan, formerly Sequoia China, has accelerated its pace of acquisitions. Earlier this year, it agreed to buy UK-based Marshall Group for EUR 1.1 billion (USD 1.2 billion), gaining majority control. It also took control of South Korean fashion label We11done and launched a joint venture with Li-Ning.
Behind these moves is a buyout team led by Jia Qin, previously head of North Asia M&amp;A at JPMorgan. Fundraising remains strong: HongShan closed RMB 18 billion (USD 2.5 billion) in new funds in July 2024, but deployment pressure is rising. For a firm better known for venture investing, the Starbucks bid reflects its shift toward large-scale buyouts.
<h3>Going on sale</h3>
For the past year, Starbucks China has been one of the market’s most closely followed M&amp;A stories.
Bloomberg first <a href="https://www.bloomberg.com/news/articles/2024-11-21/starbucks-is-said-to-consider-selling-stake-in-chinese-business">reported in November 2024</a> that Starbucks was exploring options for its China business, including stake sales or partnerships. The company denied plans for a full exit but acknowledged interest in external funding, fueling speculation about structure and valuation.
The news triggered a rush of interest from private equity firms and Chinese investors, among them Carlyle, KKR, Bain Capital, Boyu, EQT, Hillhouse, Primavera Capital Group, and CDH Investments. <a href="/company/tencent">Tencent</a> and <a href="/company/alibaba">Alibaba</a> were also rumored to have explored bids.
Valuations varied widely. Some bidders valued Starbucks China at USD 5 billion based on EBITDA, while others suggested figures as high as USD 10 billion, reflecting different views on growth potential amid rising competition from <a href="/company/luckin-coffee">Luckin Coffee</a> and <a href="/company/cotti-coffee">Cotti Coffee</a>.
In August, Starbucks requested nonbinding offers, signaling it was narrowing the pool to serious, well-capitalized buyers. At the same time, it emphasized that it would retain a stake and core assets, reducing the appeal for investors seeking full control.
Even once a final buyer is chosen, the story is unlikely to end. For Starbucks, the sale marks the beginning of a broader strategic realignment in China.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://mp.weixin.qq.com/s/oMwIctqTfi9EQ5eXDZEsag">article</a> was written by Xu Muxin for 36Kr.

Brewing takeover: Four firms in final race to buy Starbucks China

Coffee

… introduced Kling AI, AIsphere released PixVerse V2, which it described as the first DiT-based video model from a Chinese startup ready for practical use.
Wang argues that video generation is not simply about using <a href="/industry/ai">artificial intelligence</a> to replace existing content on platforms like TikTok. Instead, it enables new forms of interaction:
<blockquote>“Once video can be generated in or close to real time, users will be able to modify and create content as they watch. That shift in interaction will give rise to a new wave of mass market products, just as the short video format gave rise to <a href="/company/tiktok">TikTok</a>.”</blockquote>
The competitive landscape is expanding. Liu Yu, formerly head of <a href="/company/sensetime">SenseTime’s</a> Miaohua, founded Vivix Group, whose product TipTap focuses on AI-generated pornography. Cao Yue, former co-founder of Moonshot AI, launched Sand AI, which uses an autoregressive approach instead of DiT to create infinitely extendable video.
AIsphere has concentrated on the consumer market, targeting users without production expertise. Wang likens PixVerse to Canva, offering simple tools for mass adoption, while other platforms resemble Photoshop or Figma, catering to professionals.
Templates have helped drive viral engagement since late 2024, but Wang said they are part of a broader effort to lower creative barriers. User-generated templates now constitute a core part of PixVerse’s ecosystem. On its domestic platform, a user-created “closet transformation” template has already drawn more than one million views.
For AIsphere, the most important measures are user growth, retention, and community engagement, especially the scale of user-generated content.
Consolidation may be close. A 2025 report from Bessemer Venture Partners projected that the video generation market is likely to narrow within a year, mirroring the trajectory of large language model development. Wang believes the companies that endure will be those that can cover costs while steadily expanding their user base.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3459728637302151">article</a> was written by Zhou Xinyu for 36Kr.

AIsphere touts PixVerse as the “Canva for video generation,” and lands the funding to prove it

Video

Creative

Creator Economy

… written by Fan Shuqi for 36Kr.

Huawei’s HIMA plans 17 car launches to secure position in premium car market

Transportation

Electric Vehicles

Mobility

… innovation.
<h3>Disrupting a crowded market</h3>
According to All View Cloud (AVC), the market for cleaning appliances such as floor washers and robot vacuums has been expanding rapidly. Cumulative sales reached RMB 22.4 billion (USD 3.1 billion), up 30% year-on-year (YoY), with unit sales of 16.55 million, an increase of 22.1%.
Growing sales have attracted more entrants. On August 6, 2025, DJI released its Romo robot vacuum, marking its crossover into smart home cleaning and further intensifying competition.
Yet profit growth has not kept pace with sales. In 2024, Ecovacs Robotics reported net profit of RMB 806 million (USD 112.8 million), less than half its 2021 peak. Roborock’s 2024 revenue rose 38% YoY, but its net profit slipped 3.6%. Both companies attributed pressure on earnings to price wars and heightened competition.
Some in the industry see AI as a potential way out of this cycle. Earlier this year, Roborock introduced what it described as the world’s first mass-produced bionic hand vacuum cleaner, which can sweep floors while also picking up small items. AI enables the device to recognize objects and calculate the best way to grasp them, improving collection accuracy.
Dreame’s floor washers follow a similar principle, identifying stains with AI and adapting cleaning modes on the fly.
Whether it is a vacuum that automatically lends a hand when it senses dirt or a hair dryer that adjusts heat based on hair condition, today’s AI appliances are not trying to mimic humanoid robots. Instead, they apply embodied intelligence in targeted ways to solve specific household tasks.
This could mark a transitional stage for embodied intelligence, offering a practical route for deployment in everyday life.
Wang believes advances in smart technology will expand opportunities for floor washers. “With embodied intelligence and robotic arms, floor washers now have eyes, a brain, and hands. In the future, consumers may only need to push the machine casually around their homes, while it autonomously adjusts to different scenarios and completes the job,” he said.
Beyond its latest launches, Dreame plans to release smart glasses in the first quarter of 2026, along with companion robots, though details have not yet been confirmed.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3459028507235720">article</a> was written by Fu Chong for 36Kr.

Dreame’s new floor washers show embodied intelligence entering homes first through appliances

Dreame

Embodied Intelligence