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On December 8, Alipay and Ant Group commemorated their 20th anniversary with vibrant celebrations at their Hangzhou headquarters. Employees from around the world joined in the festivities, which included a carnival, a relay race, and various public service activities. A notable moment was founder Jack Ma’s rare public appearance, where he shared his reflections and thoughts on the future.
In his remarks, Ma reflected on the team’s contributions over the years, citing key developments such as the creation of Alipay, Yu'E Bao, and Ant Forest, and their impact on society.
However, Ma also steered the focus beyond past accomplishments. “We were lucky to capture the opportunities of the internet 20 years ago,” he said. “In the future 20 years, AI will bring changes far beyond the imagination, AI will bring on an even greater era.”
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Reiterating Ant’s commitment to innovation, Ma emphasized the importance of using technology to improve people’s lives. He stressed the need for ethical considerations to guide advancements in artificial intelligence, creating a balance between human values and technological progress.
The event further underscored Ant’s long-term ambition of becoming a company that lasts over a century. During his speech, Ma described the 20-year milestone as just the beginning and acknowledged the contributions of employees, supporters, and critics in shaping the company’s trajectory. He expressed confidence in the team’s ability to continue adapting and innovating in a rapidly changing environment.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3070221367112576">article</a> was written by Xiao Xi for 36Kr.

Jack Ma at Ant Group’s 20th anniversary: "AI will bring on an even greater era"

Ant Group

China Tech

Deep Tech

Artificial intelligence

… accommodate 316.38 million liters per day, leaving a significant 28% shortfall.
While Johor’s transformation into a data center hub could boost wages and create job opportunities for Malaysians, it also raises serious concerns about resource overuse and environmental sustainability. Water shortages, in particular, symbolize the challenges tied to the industry’s growth. For Malaysia, the vision of becoming a data center capital brings the promise of prosperity but also the risk of exhausting resources before achieving sustainable wealth.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3052991671914628">article</a> was written by Ye Danxuan for 36Kr.

Will a data center boom make Johor the “Shenzhen of Southeast Asia?”

Hardware

Semiconductors

Malaysia

In the quiet early hours of December 7, Beijing time, OpenAI held the second event in its ambitious 12-day series of live broadcasts. This session introduced "reinforcement fine-tuning" (RFT), a next-generation model refinement technique that promises to reshape the landscape of artificial intelligence customization.
Officially slated for release in 2025, RFT aims to give AI models domain-specific expertise, unlocking new possibilities for academia, industry, and beyond.
<h3>What is reinforcement fine-tuning?</h3>
RFT refines pretrained general-purpose models by further training them on targeted, specialized datasets. Think of it as taking a seasoned generalist and coaching them to master a specific craft.
This method could turn out highly efficient, delivering expert-level capabilities with only a small amount of additional data, sometimes just a few dozen samples. The process relies on iterative cycles of reasoning, validation, and testing to boost performance in specific domains, such as law, medicine, and more.
Notably, OpenAI is already collaborating with Thomson Reuters to apply RFT in building a legal-specific model tailored to the company’s needs.
“Reinforcement fine-tuning makes it easier to develop expert-level large models in specialized fields,” said the founder of an AI applications company in an interview with 36Kr. “This isn’t something that everyday users would typically need, but for professionals, it’s a game changer.”
The statement echoes OpenAI CEO Sam Altman’s sentiment on social media, where he called RFT one of his “biggest surprises of 2024” and expressed enthusiasm about its future applications.
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A highlight of the live broadcast was OpenAI’s demonstration of a real-world application in rare genetic disease research. Collaborating with researchers from Lawrence Berkeley National Laboratory and Germany’s Charite university hospital, OpenAI trained its GPT-o1 Mini model using RFT to identify the causes of rare diseases. The refined GPT-o1 Mini outperformed its larger counterpart, highlighting RFT’s potential to address complex challenges with precision and speed.
Unlike conventional fine-tuning methods, which often prioritize “memorization,” RFT focuses on enhancing reasoning and problem-solving in specific domains. This fundamental shift allows models to achieve superior performance, even when trained on limited datasets. By combining training and testing phases in iterative cycles, RFT drives the model toward greater accuracy and adaptability.
While RFT is still in its research preview stage, OpenAI has extended an open invitation to universities, research institutions, and businesses to join its RFT research program. The company is also seeking collaborative partners willing to contribute datasets to refine and expand the method’s capabilities ahead of its full release in 2025.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3067902024954504">article</a> was written by Wang Fangyu for 36Kr.

Reinforcement fine-tuning: OpenAI’s next step in AI customization

OpenAI

Artificial Intelligence

<h3>Omni HR raises USD 7.4 million to advance HR management in APAC</h3>
<a href="https://www.omnihr.co/">Omni HR</a>, a Singapore-based human resources management platform, has secured USD 7.4 million in a funding round led by Picus Capital, with participation from Alpha JWC Ventures, January Capital, and Ratio Ventures.
This brings the company’s total funding to USD 9.8 million since its founding in 2021 by Brian Ip, a former Goldman Sachs executive.
Omni HR offers a human resources information system (HRIS) platform that integrates automated workflows, multi-country payroll, and local compliance.
The new funds will be used to broaden the platform’s presence across the Asia Pacific region, enhance localization features, and develop solutions to address gaps in workforce management.
<h3>Kamereo secures USD 7.8 million to expand food tech operations in Vietnam</h3>
Kamereo, a Vietnam-based B2B food sourcing platform, has secured USD 7.8 million in a Series B round, according to <a href="https://www.dealstreetasia.com/stories/kamereo-raises-funds-422446">DealStreetAsia</a>.
The round saw participation from Sumitomo Corporation, Inspire, SMBC Venture Capital, Mitsubishi UFJ Capital, and Reazon Holdings, bringing Kamereo’s total funding to over USD 15 million.
The company plans to use the funds to expand into additional cities across Vietnam and launch new services, including a marketplace model, to cater to its diverse customer base of restaurants, schools, and hospitals. Kamereo recently extended its operations to Hanoi, complementing its existing presence in Ho Chi Minh City.
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<h3>Luma AI lands USD 90 million to scale visual AI innovation</h3>
Luma AI, a Silicon Valley-based developer of visual artificial intelligence technologies, has landed USD 90 million in its latest funding round, according to <a href="https://36kr.com/p/3064016815252864">36Kr</a>. The round featured participation from Amazon, AMD, Factorial Funds, LDV Capital, and existing investors a16z, Amplify Partners, and Matrix Partners.
Luma AI specializes in computer vision applications, including video, 3D, and image generation technologies. The funding will fuel the development of foundational models and expand its product offerings in the competitive visual AI space.
Earlier this year, the company raised USD 43 million in a Series B round, cementing its position as a key player in AI-driven content creation.
<h3>Web3 Media Ventures acquires Slise to redefine blockchain advertising</h3>
Web3 Media Ventures (W3M Ventures) has acquired Slise, a blockchain-native advertising platform launched in 2022 by Y Combinator alumni.
Slise leverages blockchain data to create advertising solutions for decentralized applications, including decentralized finance (DeFi) protocols, non-fungible token (NFT) analytics, and Web3 gaming platforms.
The acquisition integrates Slise’s on-chain advertising tools into W3M’s portfolio, aimed at advancing innovation in decentralized marketing.
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<h3>Meatable, KKday, The Flow Studio, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://www.meatable.com/">Meatable</a>, a cultivated meat company, landed an undisclosed amount of investment from Betagro Ventures, the corporate venture capital arm of Thailand's food giant Betagro. The company also raised EUR 30 million (USD 31.7 million) from Desmos Capital Partners.</li>
<li aria-level="1">KKday, a travel experience platform, raised USD 70 million in fresh funding. Investors include the Cool Japan Fund, Taiwan-based National Development Fund, CHBVC, Darwin Ventures, and ZUU &amp; De Capital Fund. Additionally, the round includes credit lines from several financial institutions.</li>
<li aria-level="1">The Flow Studio, a pilates and yoga firm, reportedly received an undisclosed sum of funding from Bintang Capital Partners’ BCP Asia Fund I.</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: Singapore-based Omni HR raises fresh funding, Kamereo backed to expand in Vietnam, Luma AI lands USD 90 million, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Vietnam

Saudi Arabia’s Riyadh Action Agenda (RAA), unveiled at the 16th session (COP16) of UN’s Convention to Combat Desertification (UNCCD), sets ambitious goals to combat global land degradation, bolster drought resilience, and overhaul agriculture systems. Introduced during UNCCD’s 30th anniversary, the initiative reflects Saudi Arabia’s push to lead on global sustainability efforts, though questions remain over funding, governance, and implementation.
The RAA aims to reverse land degradation trends, which currently affect 40% of the world’s land. Its core objectives include:
<ul>
<li aria-level="1">Restoring 1.5 billion hectares of degraded land by 2030 to meet the UNCCD’s land degradation neutrality target.</li>
<li aria-level="1">Protecting 30% of lands and waters to enhance drought resilience and benefit 500 million people.</li>
<li aria-level="1">Transforming agrifood systems, with plans to restore 250 million hectares of degraded agricultural land.</li>
</ul>
Key to the initiative’s success is mobilizing financing, integrating advanced technology with indigenous knowledge, and promoting inclusive governance. Proposed financial tools—such as carbon markets, resilience credits, and debt-for-nature swaps—are designed to attract private sector investment.
While the economic case is compelling—restoring degraded land could yield USD 7–30 for every dollar invested—funding shortfalls loom large. Only 6% of funding for land restoration projects currently comes from private sources, according to UNCCD estimates. Saudi Arabia’s COP16 presidency has called on corporations and investors to scale up their commitments, but specifics on mobilizing capital remain unclear.
Governance challenges are also in focus. The agenda emphasizes empowering marginalized groups, including Indigenous peoples and women, but practical mechanisms to ensure equitable participation and benefit-sharing are unclear. Additionally, integrating cutting-edge technologies with traditional knowledge—a central tenet of the agenda—raises questions about scalability and accessibility, particularly in regions with limited infrastructure or technical expertise.
The RAA aligns with global frameworks, such as the Paris Agreement and the Sustainable Development Goals (SDGs), notably SDG 15.3, which aims for a land degradation-neutral world by 2030. However, overlapping priorities with these initiatives could complicate coordination, necessitating greater clarity to avoid duplication and ensure synergy across global programs.
Saudi Arabia has framed the agenda as a rallying call for international cooperation, leveraging COP16 as a platform for stakeholder partnerships. Flagship programs like the Business4Land initiative and the International Drought Resilience Alliance aim to operationalize the agenda’s goals. Yet, as the world contends with climate change, biodiversity loss, and food insecurity, the effectiveness of such efforts will hinge on swift, tangible progress.
The stakes are high. Failure to address land degradation could affect up to 3.2 billion people by 2050, driving migration, conflicts, and economic losses. At the same time, success could unlock transformative benefits, from improved agricultural productivity to enhanced ecosystem services.

Saudi Arabia takes the lead on land restoration with ambitious COP16 agenda

Sustainability

Saudi Arabia

Li Auto is rejigging its smart driving division to accelerate the deployment of its end-to-end (E2E) solution.
Senior executive Xia Zhongpu has been appointed to lead Li Auto’s E2E smart driving production efforts, reporting directly to Lang Xianpeng, the head of smart driving at Li Auto.
Previously, Jia Peng managed all smart driving algorithm development under Lang’s oversight. With the restructuring, the team has been divided into three core groups: Xia now oversees the implementation and deployment of E2E models, Jia focuses on world models and pre-research, and Wang Jiajia manages production development. All three leaders report to Lang.
This adjustment follows significant progress in Li Auto’s E2E framework, enabling the company to shift its focus toward long-term technical research. “The division of responsibilities within the smart driving team is now more refined,” an insider said.
The restructuring elevates the “behavior intelligence” division, led by Xia, from a second-tier to a first-tier department. According to 36Kr, Xia previously worked at Baidu’s autonomous driving division, where he specialized in integrating neural networks with planning and control systems—a critical challenge in implementing an E2E approach.
Li Auto is heavily investing in next-generation E2E solutions and Level 4 autonomous driving. During its Q2 earnings call, the company announced the initiation of long-term research on a vision-language-action (VLA) model. This framework, which integrates multimodal large models, is regarded by industry experts as groundbreaking.
Lang told 36Kr that Li Auto is conducting preliminary research on Level 4 autonomous driving. Meanwhile, CEO Li Xiang publicly stated that unsupervised Level 4 autonomy could become a reality within three years, driven by advancements in technology and computational power.
Jia leads the pre-research effort, with his team including senior algorithm expert Zhan Kun, who previously worked on Baidu Apollo’s robotaxi program. With the latest restructuring, Li Auto has adopted a two-pronged strategy, focusing on both E2E production deployment and Level 4 autonomous driving R&amp;D—a dual approach that mirrors competitors like Xiaomi.
Li Auto declined to provide an official statement when asked for comment.
According to 36Kr, Li Auto began developing its E2E smart driving solution in November 2023, with production targeted for late 2024. After observing Tesla’s E2E success earlier this year, Li Auto’s leadership decided to accelerate the project. The company has since developed a technical framework that combines E2E and vision language models (VLMs). Following its April restructuring, the smart driving team was streamlined from over 1,000 members to a few hundred.
Despite the downsizing, the E2E solution has exceeded expectations. On October 23, Li Auto began rolling out the system to all Li AD Max model drivers.
Tesla, widely regarded as the pioneer of E2E, integrates neural networks across perception, decision-making, path planning, and control. This approach, powered by vast datasets and high computational power, is seen as superior to traditional rule-based systems in achieving human-like driving performance. E2E frameworks are now an industry standard, serving as a gateway to Level 4 autonomy and robotics while unlocking new commercial opportunities. “Failing to adopt E2E means falling behind,” a technology leader from a top-tier smart driving supplier remarked.
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This race is about more than just technology—it’s about enhancing user experience. Automakers are competing to offer capabilities that simplify user interaction while ensuring highly polished execution.
On November 28, Li Auto became the first automaker to fully deploy a dual-system architecture combining E2E and VLM technologies. Its “one-click point-to-point” solution enables smooth navigation through narrow residential roads, roundabouts, U-turns, and complex construction zones. The latest version also supports automated passage through electronic toll collection (ETC) points nationwide, delivering an uninterrupted, full-scenario smart driving experience.
Li Auto is not alone, with several other companies joining the race:
<ul>
<li aria-level="1">Huawei introduced version 3.0 of its autonomous driving system in the Aito M9 in August, showcasing point-to-point capabilities like automatic gate entry and roundabout navigation. By September, the system was rolled out to all users.</li>
<li aria-level="1">Xpeng launched its E2E solution with nationwide testing starting November 15, emphasizing point-to-point features.</li>
<li aria-level="1">Xiaomi unveiled its mapless navigate-on-autopilot (NOA) system at Auto Guangzhou, combining VLM technology with user driving data. A pioneer version is slated for December.</li>
<li aria-level="1">Zeekr plans to launch its mapless NZP driving assistance system by year-end, with point-to-point features coming in January.</li>
<li aria-level="1">Chang’an Automobile has built a 1,000-member smart driving team focused on E2E development.</li>
<li aria-level="1">IM Motors, supported by DeepRoute.ai, activated its mapless NOA feature nationwide in October.</li>
<li aria-level="1">Great Wall Motor, in partnership with DeepRoute.ai, launched full-scenario NOA functionality in November.</li>
<li aria-level="1">Nio revealed its E2E roadmap in August, with more production details expected during its December event.</li>
</ul>
Li Auto’s success highlights the importance of a clear technical strategy. By leveraging large datasets and robust algorithms, the company has achieved rapid validation, providing valuable lessons for legacy automakers navigating the balance between maintaining traditional software and pursuing E2E development.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3056058159566985">article</a> was written by Li Anqi for 36Kr.

Li Auto leans into end-to-end autonomy with smart driving overhaul

Li Auto

Autonomous Vehicles

Electric Vehicles

Mobility

… Foxconn's central environment division, told Nikkei Asia.
Some say that price competitiveness will overcome geopolitical pushback for the foreseeable future.
In May, the Biden administration imposed trade barriers on imports of solar energy components and equipment from Cambodia, Malaysia, Vietnam, and Thailand to crack down on suspected circumvention of antidumping measures imposed on Chinese products.
Simon Wu, chairman of industrial chemical and gas supplier San Fu Chemical, said there was "some slowdown" in Chinese solar companies' expansion in Vietnam after the announcement.
"However, we do expect market demand to normalize in the near future," Wu said. "Their offerings are still the most competitive."
Yang of TIER shared a similar view, pointing not only to loopholes in trade barriers but also to markets hungry for renewable energy and without such barriers.
"Basically, Southeast Asia is not the only market that will rely heavily on China's photovoltaic equipment if they want to boost its solar energy adoption in a cost-effective way," he said. "If solar energy is the future, that situation will be common all over the whole world."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Business/Technology/Tech-Asia/Solar-powerhouse-China-holds-the-key-to-Asia-s-green-energy-goals" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Solar powerhouse: China holds the key to Asia's green energy goals

Energy

Climate

… next era of industry growth.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3057321456505222">article</a> was written by Feng Min for 36Kr.

Singles’ Day highlights gaming IP boom as female players lead the charge

Gaming

Creative

<h3>Meatable attracts investment from Betagro and Desmos Capital Partners</h3>
<a href="https://www.meatable.com/">Meatable</a>, a cultivated meat company based in the Netherlands, has landed an undisclosed amount of investment from Betagro Ventures, the corporate venture capital arm of Thailand's food giant Betagro. This makes Betagro the first traditional meat processing company to invest in Meatable.
Separately, the company also raised EUR 30 million (USD 31.7 million) from Desmos Capital Partners, a firm founded by former UK politician Chris Skidmore.
Meatable plans to use the new funding to expand into Asia's alternative protein market, starting with Singapore. Its products are expected to launch there in 2025.
The company last raised funding in Q3 2023, when it <a href="https://kr-asia.com/deals-in-brief-meatable-secures-usd-35-million-in-funding-nine-new-deals-for-chinese-companies-and-more">secured USD 35 million</a> in a round led by Agronomics.
<h3>KKday bags USD 70 million to scale travel tech platform</h3>
KKday, a travel experience platform, has raised USD 70 million in fresh funding. Investors include the Cool Japan Fund, Taiwan-based National Development Fund, CHBVC, Darwin Ventures, and ZUU &amp; De Capital Fund. Additionally, the round includes credit lines from several financial institutions.
The company plans to use the funding for mergers and acquisitions in the Asia Pacific region, technology upgrades, and talent acquisition in key markets. Japan remains a top priority, with partnerships such as Jalan for accommodations and Tabelog for dining reservations.
<h3>Bintang Capital backs The Flow’s ASEAN expansion</h3>
Malaysia’s Bintang Capital Partners, through its BCP Asia Fund I, has reportedly invested in The Flow Studio, a pilates and yoga firm, according to <a href="https://technode.global/2024/12/06/malaysias-bintang-capital-partners-invests-in-yoga-and-pilates-firm-the-flow-studio/">TechNode Global</a>.
The funding will drive The Flow’s growth in ASEAN markets, including Singapore and Malaysia, with a focus on corporate wellness programs and inclusivity. The company aims to serve diverse groups, including the elderly, young children, and women in recovery.
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<h3>Recent deals completed in China:</h3>
<ul>
<li aria-level="1"><a href="http://www.realmagicsemi.com/">Realmagic</a>, a provider of full-stack sensor and actuator microsystem solutions, has secured an eight-figure RMB investment in a pre-Series A+ round. The round was jointly led by China Growth Capital and WestSummit Capital. The funds will be allocated to R&amp;D for new products and to establish a pilot production line. —<a href="https://36kr.com/p/3065722911171973">36Kr</a></li>
<li aria-level="1">Vehinfo, a developer of automotive control system simulation and testing solutions, has raised close to RMB 100 million (USD 14 million) in Series A funding. The company will utilize the capital to expand its talent pool, advance its hardware-in-the-loop simulation testing products, and accelerate its business expansion. —<a href="https://36kr.com/p/3064515053168006">36Kr</a></li>
<li aria-level="1"><a href="https://www.noematrix.ai/">Noematrix</a>, an embodied intelligence startup incubated by Flexiv, has completed a pre-Series A+ funding round, raising a nine-figure RMB sum. The round was led by HongShan, with participation from Prosperity7 Ventures, Langcheng Capital, and Plug and Play China. —<a href="https://36kr.com/p/3065605732541830">36Kr</a></li>
<li aria-level="1"><a href="https://www.affinitybiopharma.com/en/Index.html">Affinity Biopharma</a>, through its parent company, has secured over RMB 400 million (USD 56 million) in Series B2 funding. The round was led by SDIC Fund, joined by China Growth Capital, Hangzhou Hongcheng Investment, SDIC Securities, Guosheng Capital, Hongfu Invest, Chengdu Anxin Guosheng Microchip Fund, Guoyuan Innovation Investment, and Hongyao Science and Technology, among others. Affinity specializes in tumor microenvironment activation (TMEA). —<a href="https://36kr.com/p/3065603326174593">36Kr</a></li>
</ul>
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<h3>UnaBiz, Alibaba, KPay, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://www.unabiz.com/">UnaBiz</a>, which provides internet-of-things services at scale, announced a strategic investment from Frank Phuan, co-founder of Sunseap Group, during its pre-Series C funding round.</li>
<li aria-level="1">Alibaba Group invested KRW 100 billion (USD 70.7 million) for a 5% stake in Ably Corporation, South Korea’s leading female apparel shopping app.</li>
<li aria-level="1">KPay Group, a financial management and operations platform, raised USD 55 million in a Series A funding round led by two Apis Partners-managed growth funds.</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: Meatable attracts investment from Betagro and Desmos Capital Partners, KKday bags USD 70 million, latest China deals, and more