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Meanwhile, the number of operating cinemas reached a record 13,400 nationwide, with 108 million screenings. Yet the number of films surpassing RMB 100 million (USD 14 million) is at its lowest in years. As more screens open and fewer hits emerge, theater owners face shrinking margins and tougher operating conditions.
A more concerning trend is the loss of younger viewers. According to TopCDB, in 2025 the share of viewers aged 25 and under dropped to a new low. Few films cater directly to younger audiences, and among those that surpassed RMB 500 million (USD 70 million), only The Legend of Hei 2 and Detective Chinatown 1900 had youth audiences making up more than 20%.
Shortform videos and dramas are drawing attention away from cinemas. TopCDB reported that the short drama market surged in the past two years, reaching RMB 48.46 billion (USD 6.8 billion) last year, more than triple its size from two years earlier.
When Zootopia premiered in 2016, a third-year middle schooler could enjoy it as a tween. Nine years later, that same viewer may now be an office worker with a stable income. Whether Zootopia 2 can bring younger audiences back to theaters may be the question exhibitors care about most.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3559591276821639">article</a> was written by Wang Yuchan for 36Kr.

Zootopia 2 lands in China as Hollywood’s biggest test of the year

Entertainment

Video

Creative

Content

China

… pricing differential is based on industry estimates and is not independently verified.
This year, Russia and several Central Asian countries introduced restrictive policies. In April, Russia required Chinese vehicles transiting through Central Asia to pay all applicable taxes and fees upon entering the country. This removed the cost advantage of parallel-imported Chinese vehicles. As a result, Li Auto’s parallel export volume has dropped to a few hundred units per month.
China’s Ministry of Commerce and three other ministries also tightened rules governing used car exports. Starting January 1, vehicles registered for fewer than 180 days will not qualify for export licenses. This change effectively closes Li Auto’s parallel export channel.
While Li Auto hesitated, companies such as <a href="/company/xpeng">Xpeng</a>, <a href="/company/leapmotor">Leapmotor</a>, and Nio made overseas expansion a central part of their strategies. Within Li Auto, the topic surfaced repeatedly, yet the company did not settle on a direction.
Li Auto formed a 30-person team in 2021 focused on overseas marketing and strategic analysis, but by early 2022 the team was reassigned to domestic operations. Over the next two years, Li Auto continued to question when and how to approach overseas markets. CEO Li publicly stated in 2023 that the company would not enter global markets before 2025. In February 2024, Li Auto announced plans for a direct-sales model overseas, before shifting again in May to a hybrid model combining direct sales and dealer partnerships.
This year, Li Auto clarified its strategy. It will focus on the Middle East, Central Asia, and Europe. The company has taken concrete steps, including establishing R&amp;D centers in Germany and the US and opening retail locations in Uzbekistan and Kazakhstan. All new models launching in 2026 and beyond will comply with overseas regulatory requirements.
<h3>Doubling down on AI and chips</h3>
Like other ambitious automakers, Li Auto is deepening its investment in AI. During the strategy meeting, the company dedicated an entire day to AI and its future direction. Part of the discussion centered on AI and Li Auto’s second-generation chip. Lu Qi, head of the now-shuttered YC China, joined remotely.
According to sources, Li Auto has committed to increasing its investment in AI, especially in inference compute capacity. One insider said Lu argued, “In the future, the scarce resource will not be training compute, it will be inference compute.” According to the latest data, Li Auto currently has ten exaflops of training compute capacity and three exaflops of inference compute, with inference compute set to grow.
Sources also said Li Auto is rapidly iterating on its self-developed in-vehicle chips. The second-generation chip is planned for release in two years. Unlike <a href="https://kr-asia.com/nio-and-xpengs-in-house-chips-enter-tapeout-phase-paving-way-for-deployment">Xpeng’s Turing chip or Nio’s Shenji chip</a>, Li Auto’s second-generation chip will place greater emphasis on inference performance.
Li Auto’s first-generation chip was successfully taped out early this year and has returned from fabrication. It is now undergoing in-vehicle testing and is expected to be deployed in flagship models next year.
According to CTO Xie Yan, Li Auto has designed a new data flow architecture for its AI chips. In this design, model execution is driven largely by data instead of instructions, allowing higher parallelism and making it well-suited for large neural networks. “Compared with the most powerful chips on the market today, ours can deliver twice the performance for large language model workloads and triple the performance for vision models such as convolutional neural networks,” Xie claimed.
The meeting also concluded that Li Auto’s exploration of AI cannot remain limited to vehicle integration. It must invest substantially in robotics and terminal devices. Li Auto’s early approach focused on adapting AI technologies to individual business lines to find real-world use cases. At the 2023 autumn strategy meeting, Meituan’s Wang argued that combining large models with Li Auto’s in-car assistant would not unlock true AI potential.
Li Auto now believes it needs to go broader. At the 2024 autumn meeting, management discussed the necessity and feasibility of developing its own smart glasses. In June, the company established two new departments focused on “spatial robotics” and “wearable robotics.” To date, however, Li Auto has not released AI-driven hardware products outside the automotive category.
Li Auto’s overall pace remains in transition. But based on the reflections and recalibrations at its strategy meeting, the company is moving toward a faster and more agile product cycle and a more determined push into AI and global markets as it works to rebuild competitiveness for the next phase of industry competition.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3559733792488584">article</a> was written by Xiao Man for 36Kr.

Li Auto enters crisis mode as sales falter and rivals pull ahead

East Asia

Transportation

Electric Vehicles

Mobility

<a href="https://www.robotera.com/en/">Robot Era</a>, an embodied intelligence company, has completed a Series A+ funding round, raising nearly RMB 1 billion (USD 140 million). The round was led by Geely Capital, with participation from BAIC Capital, the Beijing Artificial Intelligence Industry Investment Fund, and the Beijing Robot Industry Development Investment Fund.
Since its founding two years ago, Robot Era has attracted several well-known investors, including <a href="/company/alibaba">Alibaba</a>, Haier Capital, <a href="/company/lenovo">Lenovo</a>, <a href="/company/geely">Geely</a>, and BAIC.
As orders rise across the <a href="/industry/robotics">robotics</a> sector, 36Kr has learned that Robot Era’s commercialization efforts are also accelerating. The company has secured more than RMB 500 million (USD 70 million) in commercial orders for 2025 and has established partnerships with Geely, Renault, SF Express, TCL, Haier, and Lenovo.
In logistics, Robot Era’s largest single order is reportedly close to RMB 50 million (USD 7 million). In commercial services, robots co-developed with Haier have already entered retail stores.
Co-founder Xi Yue told 36Kr that the company’s commercialization strategy includes identifying deployment scenarios that align with different stages of technological development. In manufacturing, Robot Era’s robots can handle component picking, high-precision assembly, and quality inspection. In commercial service environments, they support in-store cleaning and guided tour services.
In the developer ecosystem, Robot Era’s robots have been adopted by <a href="/company/bytedance">ByteDance’s</a> robotics lab, Skild AI, and other institutions engaged in robotics R&amp;D and technology transfer.
<figure id="attachment_158420" aria-describedby="caption-attachment-158420" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-158420" src="https://console.kr-asia.com/wp-content/uploads/2025/11/Robot-Era-Logistics-Sorting-Robots.jpg" alt="Photo of a Robot Era robot sorting and packing goods in a logistics facility." width="1920" height="1080" srcset="https://console.kr-asia.com/wp-content/uploads/2025/11/Robot-Era-Logistics-Sorting-Robots.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/11/Robot-Era-Logistics-Sorting-Robots-720x405.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/11/Robot-Era-Logistics-Sorting-Robots-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/11/Robot-Era-Logistics-Sorting-Robots-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/11/Robot-Era-Logistics-Sorting-Robots-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/11/Robot-Era-Logistics-Sorting-Robots-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-158420" class="wp-caption-text">A Robot Era robot sorting and packing goods in a logistics facility. Photo source: Robot Era.</figcaption></figure>
For robotics manufacturers, standardization is a key step toward improving commercialization efficiency. Xi said Robot Era is piloting a standardized, reusable handling and sorting solution for logistics clients. The solution is built on the company’s L7 humanoid robot, powered by its vision-language-action model ERA-42 and integrated into logistics clients’ business systems.
Robots can participate in parcel sorting and scanning within logistics workflows, improving operational flexibility. Logistics systems can issue task-level commands directly to the embodied model, which provides real-time updates on progress and status. This approach addresses a common challenge in logistics workflows, where operational processes often function as a black box.
Robot Era has deployed pilot installations of this solution with multiple global logistics companies.
Beyond the domestic market, the company is expanding overseas. 36Kr has learned that Robot Era’s products have entered North America, Europe, Japan, and South Korea, with overseas revenue accounting for about half of total revenue. According to the company, nine of the world’s ten largest tech companies are now its clients.
Alongside commercialization, Robot Era continues to advance its R&amp;D in hardware and embodied intelligence. Last year, the company launched ERA-42, its first system combining a world model with a fast-slow hierarchical architecture. ERA-42 extends the utility of large volumes of online video data into embodied intelligence applications, enabling robots to learn physical principles and perform more refined operations.
In October, Robot Era collaborated with Stanford University’s Chelsea Finn to propose Ctrl-World, a controllable generative world model that enables robots to conduct task rehearsals, strategy evaluation, and self-iteration within an “imagination space.” The model is claimed to improve task completion rates in unfamiliar environments by 44.7%.
whereRelatedArticle
On the hardware front, Robot Era distinguishes itself by creating robots using a modular, Lego-like approach. Over the past two years, it has released modular components including dexterous hands (XHand 1 and XHand 1 Lite), the Q5 commercial service robot, the bipedal L7 robot for industrial use, and the M7 upper-body modular platform.
Xi said modular design allows the team to adjust configurations to meet the needs of different industries.
Robot Era also continues to focus on in-house hardware development. More than 95% of its components, including joints, dexterous hands, and motors, are self-developed, according to the company.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3560734133091207">article</a> was written by Su Jianxun for 36Kr.

Backed by China’s automakers, Robot Era moves to fulfill major orders

Robotics

Deep Tech

Embodied Intelligence

Chinese toy brands are rushing to enter Thailand in response to the popularity of characters such as Labubu from toy manufacturer <a href="/company/pop-mart">Pop Mart</a>, seeking a gauge for success as competition for the next craze heats up.
"I come here twice a month. It's all just so cute," said one 33-year-old Thai man visiting a 52Toys location in a Bangkok mall on Monday. His current favorite is the tiger character known as Fat Tiger. He was not looking for anything in particular on that visit, but still made a purchase of THB 1,000 baht (USD 30.7) with a friend.
52Toys is operated by China's 52Toys Development. The company debuted its first dedicated shop outside of China in Bangkok in 2023, and has opened shops in malls here continually since. Its animal characters like Panda Roll—modeled after a baby panda—are popular in the Southeast Asian country. Its stores are full on the weekends.
Another Chinese brand, Heyone, was founded in 2022 and held large events to promote its characters including Ozai in Thailand during September and October. Store chain Top Toy, run by the operator of general merchandiser <a href="/company/miniso">Miniso</a>, also has <a href="https://kr-asia.com/top-toy-targets-southeast-asia-with-first-store-in-thailand-expanding-minisos-footprint">locations in Thailand</a>.
These companies' characters are meant to be enjoyed by adults as well, designed with great attention to detail. They are seen as closer to "art toys" than mass-produced toys. They all use the blind box system, which means buyers do not know which version they are getting until they open the box.
"We're seeing more [Chinese companies] expand into Thailand as China's market stagnation and the free trade agreement [between China and ASEAN] have become a tailwind," said Shuhei Hashimoto, an expert in the Thai retail sector at German consultancy Roland Berger.
Labubu became an international hit when Lisa, a member of K-pop girl group Blackpink, showed off her Labubu on social media. Lisa is Thai, which helped spark the toy's popularity among young people in the country.
Thailand can be seen as a litmus test regarding the potential of overseas expansion for such characters, and Chinese companies are stepping up efforts here in hopes of finding the next Labubu.
Pop Mart is also moving on from Labubu. Its largest store in the world, located on the banks of the Chao Phraya River in Thailand, features a display of its Molly character in traditional Thai dress.
Japanese characters like Doraemon, Crayon Shin-chan, and Hello Kitty have been popular in Thailand for many years as well, but the continued popularity of Chinese characters could lead to a decline in Japanese characters there.
This article first appeared on <a href="https://asia.nikkei.com/business/retail/chinese-brands-try-out-toys-in-thailand-to-find-next-labubu">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>.

Chinese brands try out toys in Thailand to find next Labubu

Retail

Consumer Economy

Thailand

Southeast Asia

… thick, thinner than standard eyeglass lenses.
According to <a href="https://my.idc.com/getdoc.jsp?containerId=prUS53809325">IDC</a>, global shipments of display-free smart glasses are projected to reach 14.3 million units in 2025, up 39.2% year-on-year, and rise to 43.1 million units by 2029.
The Ray-Ban Display could redefine consumer expectations by making built-in screens the new standard. For optical waveguide suppliers such as Greatar, this signals a market that is set to expand even further.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3548062348750723">article</a> was written by Leslie Zhang for 36Kr.

Smart glasses: The optics behind the comeback of wearable displays

Hardware

… reliability laboratory." width="1920" height="1080" srcset="https://console.kr-asia.com/wp-content/uploads/2025/11/Laifen-Laboratory.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/11/Laifen-Laboratory-720x405.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/11/Laifen-Laboratory-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/11/Laifen-Laboratory-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/11/Laifen-Laboratory-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/11/Laifen-Laboratory-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-158391" class="wp-caption-text">Laifen’s reliability laboratory. Photo source: Laifen.</figcaption></figure>
Laifen will launch its second-generation sonic oscillating electric toothbrush in December. The company also said it plans to expand into new product categories next year.
Inside the flagship store, several design elements hint at possible directions. The lighting fixtures are self-developed, and the store’s clean floors and maintenance routines suggest an interest in home cleaning solutions.
When asked whether Laifen will move beyond personal care, a company representative said observers could infer potential categories based on the store’s lights, mirrors, and flooring. Together, these clues suggest that Laifen is expanding beyond personal care in a way that aligns with common trajectories in the home appliance sector.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3560743718304905">article</a> was written by Ou Xue for 36Kr.

Laifen turns to offline retail to anchor its next phase of growth

… href="https://36kr.com/p/3541430128898178">article</a> was written by Xiao Xi for 36Kr.

Inside Pony.ai’s staying power and the mindset of its CTO, Lou Tiancheng

Pony.ai

Autonomous Vehicles

Hong Kong

Bili Q, a digital solutions provider for the travel and hospitality sector, has raised an eight-figure RMB sum in a Series A+ funding round backed solely by Tiantu Capital. The company plans to use the capital to accelerate development of its travel media platform and to advance R&amp;D and commercialization of its <a href="/industry/ai">artificial intelligence</a> technologies.
Founded in 2016, Bili Q bases its strategy on using AI to personalize travel experiences. It operates two product ecosystems: a travel media platform that enhances guest experiences through in-room content and operations, and an “in-journey immersive consumption” ecosystem. The latter debuted with Insider, an AI agent application launched at Xi Lake in Hangzhou.
The travel media platform has become Bili Q’s core business. Founder Wang Yang first brought online television technology into hotel rooms in 2016, developing <a href="https://www.mycool.tv/">MyCoolTV</a> for entertainment use. In 2021, Bili Q shifted to a platform model that expanded beyond infrastructure to include content and copyright services. The goal, Wang said, is to deliver localized history, food, architecture, and cultural stories to travelers, “like a large-screen version of <a href="/company/xiaohongshu">Xiaohongshu</a> or <a href="/company/douyin">Douyin</a>.”
Bili Q’s platform now spans hotels, resorts, theme parks, attractions, cruise ships, serviced apartments, and senior living communities across the Asia Pacific region. The company has master service agreements with major hotel and resort groups such as Marriott and Hyatt, covering brands including Bulgari, Four Seasons, Rosewood, and Waldorf Astoria. It also works with Viking Cruises, Universal Beijing Resort, and Legoland, reaching more than 80 million users annually.
Wang told 36Kr that Bili Q’s success comes down to three factors:
<ol>
<li aria-level="1">First, the company entered the market early during the rise of online home entertainment, which gave it a technological lead that it continues to build upon</li>
<li aria-level="1">Second, Bili Q develops its own apps and operates MyCoolTV, maintaining a structure that supports personalized content distribution.</li>
<li aria-level="1">Third, it focuses on performance-based partnerships, offering revenue-sharing models that reduce operational risk for partners.</li>
</ol>
<figure id="attachment_158382" aria-describedby="caption-attachment-158382" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-158382" src="https://console.kr-asia.com/wp-content/uploads/2025/11/MyCoolTV-Mobile.jpg" alt="" width="1920" height="1080" srcset="https://console.kr-asia.com/wp-content/uploads/2025/11/MyCoolTV-Mobile.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/11/MyCoolTV-Mobile-720x405.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/11/MyCoolTV-Mobile-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/11/MyCoolTV-Mobile-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/11/MyCoolTV-Mobile-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/11/MyCoolTV-Mobile-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-158382" class="wp-caption-text">Image source: Bili Q.</figcaption></figure>
Wang said that agentic AI offers advantages in immediacy, privacy, and immersion. “In hotels, we can trigger content automatically. When a guest enters the room, the screen turns on and recommendations begin immediately. The hotel screen is larger, clearer, and more private than a phone, and guests stay on it longer,” he said.
He added that as agentic AI advances, voice interaction will replace remote controls, reducing the effort required to navigate screen interfaces, similar to Tesla’s upcoming Cybercab concept, which revolves around a single large display. Bili Q is preparing the supporting technologies and content rights for that shift.
In its immersive consumption business, Bili Q differentiates itself from online travel agencies by focusing on real-time, in-journey experiences. Insider’s launch signals this direction, and broader market conditions support the trend toward experience-driven tourism. According to Chinese media reports, 12 of 16 publicly listed tourism firms recently warned of first-half losses, even as domestic travel remains strong. Citing data from the Ministry of Culture and Tourism, 36Kr reported that domestic trips reached 4.998 billion in the first three quarters of 2025, an 18% year-on-year increase.
China’s tourism sector faces a structural imbalance between supply and demand. A model that depends on ticket sales and scale is losing viability, while experience-rich and emotion-driven travel is reshaping spending patterns. To address this change, Bili Q identifies its main traffic source as on-site scenarios and promotes immediate, on-the-spot consumption. Insider’s advantage, Wang said, lies in its ability to deliver the right content at the right moment.
At Xi Lake’s Wansong Academy, for instance, Bili Q designed a photo tour experience for a visiting student group from Singapore, allowing participants to explore in period costume. “For the Wansong Academy project, we expect full-year revenue to rise at least 30%, and we’re aiming for 40%,” Wang said. This projection is an internal claim and is not attributed to external financial documentation.
Only 10% of Bili Q’s revenue currently comes from its scene-based innovation projects. Wang expects the mix to shift over the next five years, with about 70% coming from scenic and travel experiences and 30% from hotel-related operations. This forecast is also an internal projection.
Wang graduated from the Beijing Institute of Technology in 2002 and began his career in marketing at Skyworth. He later led national B2B sales for hospitality, real estate, and media at Samsung and other firms. When home entertainment began moving online, he anticipated similar potential in commercial environments and founded Bili Q in 2016.
Before the latest round, Bili Q had completed two earlier funding rounds. Its first institutional investor was Liu Zhen, chairman of Guanghe Tianrun, a longtime media service provider to CCTV. In 2023, the company raised RMB 210 million (USD 29.4 million) in strategic funding from Coocaa, whose shareholders include Skyworth, <a href="/company/tencent">Tencent</a>, iQiyi, and <a href="/company/baidu">Baidu</a>. Coocaa focuses on home applications, while Bili Q targets commercial ones.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3559275463392131">article</a> was written by Zhong Yixuan for 36Kr.

Bili Q sees potential in agentic AI for travel, and it starts in the hotel room

Travel

… equipment. The studio now uses three fixed cameras and a professional jib for seamless switching, along with more than 200 lighting fixtures modeled on the standards of major televised music programs. Li said the company built the setup to professional stage specifications because traditional performances depend heavily on visual quality, and even strong content loses impact without the proper environment.
Each live stream follows a structured creative workflow. Performers do not select what they want to showcase. Instead, the team designs programming around audience needs to ensure the content remains coherent and substantive. Each show undergoes two weeks of planning and one week of rehearsals. The team performs a full dry run the day before airing, simulating all conditions, including camera work, lighting, styling, costumes, and sound. After each broadcast, performers, operators, creative directors, and technical staff meet for a comprehensive review.
Commercially, Changjing Media is expanding beyond live streaming, stage performances, and short dramas by connecting performers with offline stages, professional competitions, and art exhibitions. Next, the company plans to explore a model that merges livestream formats with offline performances.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3556682743463042">article</a> was written by Li Xiaoxia for 36Kr.

Changjing Media sees a new industry taking shape in group live streaming

Live Streaming