Alibaba

ByteDance

CATL

Huawei

Meituan

Tencent

Xiaomi

Most Followed

Market News

Listings (IPO)

Earnings Reports

Venture Roundup

Big Tech

Automotives

Retail and Commerce

Collections

News

Features

Insights

Press Releases

Anta

DeepSeek

Geely

Li Auto

Mixue Bingcheng

Pop Mart

Going Global

Latest

Collaborate

Earnings

Auto

Retail & Commerce

… walls" and not be afraid "to speak up, to find your voice."
Yet Chinese women directors who have found box office success have largely hewed to centering their stories on female characters and their everyday lives rather than taking on political themes directly.
Jia Ling's 2021 debut, Hi, Mom, is a prime example. A comedic fantasy about a young woman who travels two decades back in time to befriend her mother as a peer, the film took in RMB 5.42 billion (USD 758.8 million) at the box office, setting a global record for a movie directed by a solo female that stood until the arrival of <a title="" href="https://asia.nikkei.com/business/media-entertainment/in-china-barbie-moves-women-to-tears-triggers-men-to-walk-out" target="_blank" rel="noopener">Greta Gerwig's Barbie</a> in 2023.
The touching but funny Send Me to the Clouds, which stars Yao Chen, was more provocative, depicting Yao's character exploring her sexuality after being diagnosed with ovarian cancer.
"The audience for that film was about 50-50 male-female, but I was asked by men why the men in the film are imperfect," said Yao on the sidelines of the Shanghai festival.
"They're not the characters that they had become used to watching on Chinese big screens: perfect men, in films about the greatness of men, about manhood," she said. "In a lot of the films you see now, there is no longer that sort of infallible male character, and that reflects the market's needs."
Last year's Her Story also pushed the envelope, argued Esther Li, co-founder of the new Hong Kong-based production house Mirage Films.
"I can now see in Chinese films a lot of topics regarding feminism, independent women [and] maybe women's struggles," she said at the Busan International Film Festival in September.
"These kinds of topics are being explored more, and I think maybe the women filmmakers have also been encouraged by the whole environment, not just to make films in China but to expand their horizons and look to international co-productions," Li said. "Both festivals and potential investors [have been] really more and more focusing on women's topics."
Li co-produced Whisperings of the Moon, which had its world premiere at Busan. The film, which marks the directing debut of China's Lai Yuqing, is set in Phnom Penh, features a local cast and follows the on-and-off relationship of a female actor and a married woman.
"It's always going to be hard to get a film made—that is the nature of the business—but there are signs of hope for us all," Li said.
Speaking alongside her, Lai said, "Making films is so hard, but throughout our production I felt all the women involved, all the team, were united by the desire to tell stories about women."
Hailing from the northern port city of Tianjin, Lai acted and studied art and film in New York, Los Angeles, and Toronto before returning to Asia to try her hand at directing features.
"I know now, going forward, there will be lots of challenges to doing a second film," Lai said, "but that won't stop me from trying because I can't stop now."
This article first appeared on <a href="https://asia.nikkei.com/spotlight/big-in-asia/chinese-women-s-market-power-brings-their-stories-to-the-big-screen">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 women's market power brings their stories to the big screen

Entertainment

Video

Creative

Content

Creator Economy

China

Shuai Shuai Fireworks is what happens when six young entrepreneurs from China’s northeast set out to reinvent one of the country’s oldest industries.
Founded in 2023 by six men born after 2000, the startup is led by Wu Mingyang, who grew up surrounded by fireworks. Wu’s father was a distributor in Heilongjiang.
“I’ve been tagging along with my dad to sell fireworks at retail terminals since I was a kid,” Wu recalled. Although he studied financial management in college, he chose to return to an industry that had always been part of his life.
Together with five childhood friends, Wu traveled from the northeast to Liuyang, Hunan, the capital of China’s fireworks industry, to launch their first venture. Each co-founder brought different skills, from computer science and accounting to civil engineering and sports. They divided responsibilities across management, product selection, design, and sales.
Their decision to base the company in Liuyang was natural. The city is recognized as the heart of China’s fireworks production. As the saying goes, “For Chinese fireworks, look to Hunan. For Hunan fireworks, look to Liuyang.”
According to official data, Liuyang is home to 431 fireworks and firecracker manufacturers. In 2024, the city’s fireworks industry recorded an output value of RMB 50.22 billion (USD 7 billion), accounting for about 60% of China’s domestic market.
As a young startup, Shuai Shuai Fireworks adopted a contract manufacturing model to lower costs and ensure production safety. Even without its own factory, the company achieved annual sales exceeding RMB 10 million (USD 1.4 million) in its first year. Wu said its sales network now spans multiple provinces, with Shandong and Liaoning emerging as top-performing markets.
While Liuyang’s fireworks sector remains vast, Wu noted that many local producers are small and compete mainly on price, leaving little room for profit. To stand out in a crowded, commoditized market, Shuai Shuai Fireworks chose to innovate through design.
The company now offers more than 100 SKUs featuring both traditional and modern designs. Its flagship line integrates landmark architecture and cultural symbols from major Chinese cities into its packaging.
Wu cited a few examples: the “Beijing” edition uses red and gold to evoke tradition and prosperity; the “Harbin” edition features icy white tones; and the “Shanghai” edition glows with blues and purples.
Such creative packaging has drawn attention from distributors and manufacturers at provincial trade fairs. “When we arrived in Liuyang in 2023, most packaging was bright red or purple with slogans,” Wu said. “We decided to introduce cartoon-style and artificial intelligence-generated designs to elevate the perceived quality. Since fireworks are emotional purchases, better packaging naturally leads to higher prices and stronger margins.”
The team also sought to solve the industry’s longstanding “blind box problem.” Buyers traditionally had to guess what fireworks would look like from the images on the box. Shuai Shuai Fireworks added QR codes to its packaging, allowing customers to scan and view a video of the actual display.
Addressing concerns over fireworks bans in some cities, Wu said the company mainly targets lower-tier and rural markets, where demand remains strong. “People in small towns and villages still prefer real fireworks,” he said. “Electronic ones just don’t feel festive enough.”
Liuyang’s fireworks are sold not only across China but also around the world. The city is the world’s largest fireworks manufacturing and export hub, home to more than 400 production companies that generate over RMB 50 billion (USD 7 billion) in annual output. It accounts for nearly 60% of China’s fireworks exports, firmly establishing its position at the center of the global pyrotechnics industry.
Wu said Shuai Shuai Fireworks has already obtained the necessary certifications for overseas sales. “Barring any surprises, international markets will definitely be part of our future plans,” he added.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3517393577516169">article</a> was written by Zhong Yixuan for 36Kr.

Six Gen Z founders are reinventing China’s century-old fireworks trade

Consumer Economy

… diversification.
At the end of 2024, Wanchen launched Laiyoupin, a community-focused discount supermarket. Then, in January, it expanded its Haoxianglai business beyond snacks into daily essentials like personal care, fresh produce, and frozen goods. By March, its new-format stores debuted, featuring in-house bakeries and fresh fruit counters. Wanchen’s prospectus states that Laiyoupin will focus on building private-label brands, targeting premium SKUs and margin improvement.
Busy Ming responded in February with its own private-label strategy, introducing its own value-focused products and high-quality goods. A new store format soon unfolded, featuring household goods, stationery, and ready-to-eat foods, positioning itself as a one-stop discount supermarket.
Industry consultancy Frost &amp; Sullivan estimates that by 2029, China’s bulk snack market could reach RMB 5 trillion (USD 700 billion). As retailers add fresh foods, household products, and even tobacco sales, they may encroach on the territory of 7-Eleven and FamilyMart.
Interestingly, Japan’s convenience stores are facing similar disruption, as low-cost drugstores and mini markets simultaneously grapple with inflationary pressures. China’s bulk snack retailers may eventually evolve into small-format, community-based supermarkets.
However, history offers cautionary tales. Over the past two decades, companies such as Yonghui Superstores, China Resources, and Hema (known internationally as Freshippo) all struggled with the high costs of fresh food logistics and urban rents when experimenting with community-based retail.
Still, one thing is clear: China’s booming bulk snack market has become a testing ground for the next generation of retail chains. As economies of scale and low prices lose their edge, success may hinge on returning to fundamentals: understanding consumer needs, strengthening supply chains, improving product development, and enhancing operational efficiency.
The lesson comes poignantly from Pangdonglai, a traditional supermarket that is redefining service quality.
As of September, Busy Ming’s store count had surpassed 20,000, while Wanchen reported coverage across 29 provinces. Yet as store density rises, average per-store revenue is starting to fall. The industry’s growth ceiling, and its moment of reckoning, may arrive sooner than expected.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3521251300105090">article</a> was written by Xie Yunzi for 36Kr.

For Wanchen and Busy Ming, Mixue’s success is both a blueprint and a cautionary tale

Retail

… another US startup, has shifted from making its own vehicles to licensing its self-driving technology, but a spokesperson said that it still sees "strong potential" for autonomous delivery applications.
Neolix is betting that China's huge size, a willingness by delivery companies to adopt new technologies and a government push to lead the <a href="/industry/ai">artificial intelligence</a> race will keep it ahead of rivals. "We will have the advantage of the data, the advantage of algorithms, that we will leverage to roll out the fleet globally," Zhao said.
This article first appeared on <a href="https://asia.nikkei.com/business/technology/tech-asia/china-races-ahead-in-robovans-even-as-autonomous-delivery-challenges-remain">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>.

China races ahead in robovans even as autonomous delivery challenges remain

Transportation

Autonomous Vehicles

Logistics

Mobility

… outcomes.
Innovent said it remains closely aligned with Takeda on IBI363’s development roadmap: starting with monotherapy for PD-1-resistant patients, then expanding into combination therapies, and eventually targeting first-line colorectal and non-small cell lung cancers.
Still, the company’s ambitious vision depends on one uncertain factor: Phase 3 success. If the data fail to meet expectations, the upfront payment will have effectively bought a share of high development risk. Combined with weakening investor enthusiasm for BD deals, that may explain why Innovent’s share price barely moved despite the blockbuster announcement.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3521459482532739">article</a> was written by Hu Xiangyun for 36Kr.

Innovent’s tie-up with Takeda tests investor faith in China’s biotech dream

Deep Tech

Biotechnology

Japan

… understanding based on respect, trust, recognition, encouragement, and kindness. With that foundation, everything is easier to execute.
<h3>36Kr: What cultural gaps existed before?</h3>
WS: Yonghui’s culture has always been rooted in goodness and altruism, but rapid expansion diluted those values. Without cohesion, you lose consistency and efficiency.
That’s why I emphasize culture. What matters is whether every action aligns with our values. Over the past year, we’ve rebuilt that alignment, which now supports systems like the five-color card, customer service, and quality control.
Culture is the soil. Once it’s healthy, everything grows straight.
<h3>36Kr: Understanding is one thing, execution is another.</h3>
WS: True. But Yonghui’s people have strong integrity. Even when our culture weakened, they still valued goodness. Now that our cultural compass is clear again, execution has become our strength.
<h3>36Kr: At 34, you’re still young, but it looks like the job’s already giving you gray hair. Ever feel close to breaking down?</h3>
WS: Not really, but the challenges are constant. Yonghui’s issues are complex and unique, so we have to think deeply and solve them one by one.
<h3>36Kr: So, has Yonghui made it through the crisis?</h3>
WS: Yes. Everything’s moving according to plan. The large-scale store closures have ended, marking the completion of our first reform cycle. We’ve passed the danger zone. Of course, we’ll still adjust underperforming locations, but from now on, the process will be steady and dynamic.
At our peak, we were closing and transforming stores simultaneously—it was exhausting. But that phase is behind us. Going forward, we’ll focus on refinement. Over the next three to five years, Yonghui will enter a stable, confident new era.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3517188914945155">article</a> was written by Li Xiaoxia for 36Kr.

One year after Miniso’s takeover, where does Yonghui Superstores stand?

Miniso

East Asia

… for the driver’s interior handle.
In most models, this handle is not electronically controlled and opens the door directly when pulled. If trapped inside, occupants can use a window breaker to shatter the driver’s window, then pull the mechanical handle to escape.
If the door frame is only slightly deformed, a strong pull can still work, an engineer added. Mechanical handles remain the last line of safety.
Consumers can check whether a car has a mechanical handle by seeing if the handle can be pulled outward rather than just pressed or touched.
In late September, China’s Ministry of Industry and Information Technology released a draft of proposed national safety standards for automobile door handles for public comment. The draft stipulates that all vehicles must include both internal and external physical handle mechanisms. Once enacted, mechanical exterior handles will become mandatory across all models.
Still, if a crash is severe enough to deform the entire door structure, even the best design may not help. Ultimately, the foundation of safety remains simple: obey traffic laws and drive responsibly.
After years of prioritizing futuristic aesthetics and aerodynamic optimization, NEV makers appear to be refocusing on what matters most: safety. The evolution of the door handle may be just the beginning. Going forward, both automakers and consumers are likely to scrutinize every detail that affects vehicle safety.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3504331066071944">article</a> was written by Xu Caiyu for 36Kr.

Why car doors may fail to open after a crash, and how automakers can fix it

Electric Vehicles

Baidu veteran Shen Pengfei joins Lee Kai-Fu at 01.AI as co-founder

Artificial Intelligence

… priority. Given fierce domestic competition, the company is shifting its self-branded business focus overseas, and its collaboration with ByteDance represents a key step in that plan.
Seres also intends to allocate 20% of the proceeds from its upcoming Hong Kong listing to marketing, overseas sales, and charging network expansion to strengthen global brand recognition.
In the years ahead, Seres’s dual identity may become more pronounced: a loyal Huawei partner in China, and an ambitious, independent contender in international markets.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3423694660275841">article</a> was written by Fan Shuqi for 36Kr.

Seres turns to ByteDance’s Doubao as it trims dependence on Huawei

Foundation and Large Models