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<p>China’s industry follows a similar trajectory but differs in two key ways:</p>
<ul>
<li aria-level="1">First, Japan enforces strict standards for raw materials, additives, and storage temperatures. Chilled products last only a few days to a week, while frozen items can be stored for months. China’s industry, by contrast, still depends heavily on restaurants and delivery services, with national standards still under development.</li>
<li aria-level="1">Second, cold chain logistics in China remain concentrated in coastal and major cities, limiting nationwide distribution. As a result, most pre-prepared food companies are small and regional.</li>
</ul>
<p>Several listed companies have addressed the controversy.</p>
<p>Qianwei Yangchu told investors it recognizes the trust issues facing the industry and has adopted measures such as new quality management systems.</p>
<p>At a results conference, Weizhixiang chairman and general manager Xia Jing said the industry is growing rapidly but faces challenges including inconsistent standards, food safety, and regulatory gaps. He believes brand reputation will become the key factor in consumer choice once new standards are in place.</p>
<p>A Guolian Securities research report projected that China’s pre-prepared dish market could reach <a href="https://kuaixun.stcn.com/yb/202209/t20220908_4849922.html">RMB 674.9 billion (USD 94.5 billion) by 2030</a>, with a compound annual growth rate above 10% over the next decade.</p>
<p>As the industry expands, it seems likely that China’s dining landscape will undergo significant transformation.</p>
<p><i>KrASIA Connection features translated and adapted content that was originally published by 36Kr. This </i><a href="https://36kr.com/p/3468771399767682"><i>article</i></a><i> was written by Xie Yunzi for 36Kr.</i></p>

After feud with Luo Yonghao, Xibei yields to consumer pressure over pre-prepared food

Retail

Consumer Economy

China

<p>Chinese corporate earnings have started to pick up, helped by growing exports to Southeast Asia and government efforts to spur consumer spending.</p>
<p>Net profits at mainland-listed companies rose 1% on the year in the January-June half, reaching RMB 1.6 trillion (USD 224 billion) for the first increase for this period in three years. It marked a turnaround from a full-year profit decline of more than 10% in 2024.</p>
<p>The total excludes financial companies. Nearly all of the roughly 5,300 companies compared had reported earnings by the end of August.</p>
<p>With exports to the US falling under pressure from the Trump administration's tariffs, Chinese industry saw notable growth in Southeast Asia.</p>
<p>Listed steel companies' profits more than doubled. Baoshan Iron &amp; Steel, part of top global steelmaker China Baowu Steel Group, posted a 7% gain, marking its first increase in four years for the January-June half.</p>
<p>Among machinery makers, Sany Heavy Industry logged a 46% profit increase on a 12% rise in international revenue from its core business.</p>
<p>Appliance makers benefited from Chinese government incentives for buyers of new products. The sector saw a roughly 13% increase in net profit, with Midea Group enjoying a 25% gain.</p>
<p>Profit jumped 33% at semiconductor companies, a faster pace than the 11% gain for the first half of 2024. The industry is undergoing a government-led effort to build up the domestic supply chain—an environment that favors such equipment makers as Naura Technology Group, which saw revenue grow 30% and profit rise 15%.</p>
<p>Contract chipmaker Semiconductor Manufacturing International Corporation (SMIC) logged profit growth of roughly 40%. Artificial intelligence chip designer Cambricon Technologies, hailed by some as China's answer to <a href="/company/nvidia">Nvidia</a>, swung to a profit.</p>
<p>"As China's leadership under [President] Xi Jinping continues to offer massive subsidies and tax breaks to advance homegrown chip production, this will provide earnings support" in the sector, said Naoki Tsukioka of Japan's Mizuho Research &amp; Technologies.</p>
<p>But many other sectors struggled in the first half—notably real estate, where 46 of 100 listed companies posted net losses. Leading homebuilder China Vanke's loss topped RMB 10 billion (USD 1.4 billion), while peer China Evergrande Group was delisted from the Stock Exchange of Hong Kong in late August.</p>
<p>No end is in sight to the country's real estate slump. Prices of new homes fell from the previous month in more than 80% of 70 major cities in July, according to the National Bureau of Statistics.</p>
<p>Solar panel makers including JinkoSolar and Longi Green Energy Technology suffered losses as an oversupply pushed down prices on their products.</p>
<p>Automakers emerged with a small profit decline despite government aid as price competition intensified. They face a similar production glut weighing on revenue. <a href="/company/gac">GAC Group</a> reported a net loss, while SAIC Motor and Great Wall Motor saw their profits fall. <a href="/industry/ev">Electric vehicle</a> market leader <a href="/company/byd">BYD's</a> profit growth slowed compared with a year earlier.</p>
<p>Listed companies' total first-half revenue was down from a year earlier in a sign of deflationary pressure. China's overall economic performance in H1 2025 shows that stimulus measures had some effect. But since July, indicators suggest a slowdown.</p>
<p>Economic growth in the second half will be in the mid-4% range, followed by growth of less than 4% in 2026, predicts Yusuke Miura of Japan's NLI Research Institute.</p>
<p><i>This article first appeared on <a href="https://asia.nikkei.com/business/business-trends/corporate-china-ekes-out-earnings-rebound-on-asian-exports-stimulus">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>.</i></p>

Corporate China ekes out earnings rebound on Asian exports, stimulus

<p>Wang Kai, investment partner at Vision Plus Capital and former CTO of <a href="/company/li-auto">Li Auto</a>, has reportedly launched a startup in embodied intelligence. A senior executive responsible for assisted driving technology at a major automaker has also joined the project and is currently on leave from the company.</p>
<p>According to <i>36Kr</i>, the startup has attracted strong investor interest. Within months of its founding, it secured about USD 50 million across two funding rounds. Vision Plus Capital led the first, while HongShan and Lanchi Ventures backed the second.</p>
<p>The team’s track record in <a href="/industry/ai">artificial intelligence</a> and large-scale engineering is seen as a key factor in drawing support, in addition to growing interest in <a href="/industry/embodied-intelligence">embodied intelligence</a>.</p>
<p>Wang joined Li Auto in September 2020 as CTO, where he oversaw R&amp;D and mass production of intelligent vehicle systems, covering electronic and electrical architecture, smart cockpits, autonomous driving, platform development, and real-time operating systems.</p>
<p>Before Li Auto, he spent eight years at Visteon, where he was the founding designer of DriveCore, the company’s assisted driving platform. He led five mass production projects spanning chips, algorithms, operating systems, and hardware architecture.</p>
<p>At Li Auto, Wang accelerated the rollout of assisted driving solutions, reaching mass production in just seven months. He left the company in early 2022 to become an investment partner at Vision Plus Capital, a role he continues to hold. In venture capital, however, such positions often function more as advisory roles rather than full-time operational posts.</p>
<p>The senior executive who joined him at the startup brings rare experience in end-to-end mass deployment, including work on vision-language-action (VLA) systems. Such expertise remains unusual among embodied intelligence ventures.</p>
<p>Beyond assisted driving, embodied intelligence has emerged as a key application area for AI, attracting talent from the autonomous driving sector and drawing significant funding.</p>
<p>In March, for example, Tars, another embodied intelligence startup, raised USD 120 million in an angel round just 50 days after its founding, representing the largest angel investment in the segment in China. Like Wang’s venture, Tars was founded by an executive with autonomous driving experience, Chen Yilun.</p>
<p>Automotives are often described as “robots without hands.” With autonomous driving and embodied intelligence closely aligned, carmakers such as <a href="/company/tesla">Tesla</a> and <a href="/company/xpeng">Xpeng</a> see the field as their next growth frontier. Many automotive executives are also choosing it as their path to entrepreneurship.</p>
<p>Before Wang, others, including Yu Yinan, a former vice president at Horizon Robotics, and Gao Jiyang, who previously led mass production R&amp;D at Momenta, had already launched startups in embodied intelligence.</p>
<p>Automakers are racing ahead in assisted driving technology. Huawei, for instance, has announced that its computing power investment in the field has reached 45 exaflops. Meanwhile, capital is pouring into embodied intelligence as well. Competition for top talent between the two segments is set to continue.</p>
<p><i>KrASIA Connection features translated and adapted content that was originally published by 36Kr. This </i><a href="https://36kr.com/p/3470785511036291"><i>article</i></a><i> was written by Fan Shuqi for 36Kr.</i></p>

Li Auto’s former CTO launches embodied intelligence startup with USD 50 million backing

Artificial Intelligence

Robotics

Deep Tech

Embodied Intelligence

… features translated and adapted content that was originally published by 36Kr. This </i><a href="https://36kr.com/p/3464455763137922"><i>article</i></a><i> was written by Ding Mao for 36Kr.</i></p>

Can Insta360 outpace DJI, or has the market already priced in its future?

East Asia

Insta360

Live Streaming

Video

Creative

Drones

Content

… place in the country.</p>
<p>An executive at a local PCB materials maker, meanwhile, told <i>Nikkei</i> that monthly salaries are soaring.</p>
<p>"We are seeing the salary for experienced factory production line managers double just over the past two to three years," the executive said. "Their salary was only about THB 40,000 (USD 1,240) a few years ago. Now there is a talent war and their salary can be THB 80,000–100,000 (USD 2,480–3,100) a month for experienced ones, and there are serious talent shortages for experienced ones."</p>
<p>A Chinese executive who works in automation tools for PCB making told <i>Nikkei</i> that personnel costs for production in Thailand are currently about three times higher than they would be in China if account efficiency and all incentives are taken into account. "It's not that easy to find enough people from China or Taiwan operations who are willing to relocate to Thailand, and the company needs to offer high incentives and subsidies to push this," the executive said.</p>
<p>Martin Leou, collaboration and business integration advisor to the Thailand Printed Circuit Board Association and an industry veteran with decades of experience in China and Taiwan, said that cultivating sufficient talent is the most critical challenge for Thailand to develop a competitive PCB industry. With government support, the association is establishing a training center to educate and prepare the next generation of talent for the electronics and PCB sectors, Leou said.</p>
<p>"We will build a real production line in the center to provide a true-to-life environment where newcomers or those interested in joining the PCB industry can gain practical skills," he said. The center will also bring in equipment and materials suppliers to help foster a new ecosystem, according to Leou.</p>
<p>The Industry, Science and Technology International Strategy Center of Taiwan forecasts the production value of PCBs in Thailand will grow from USD 3.5 billion in 2024 to USD 5.62 billion by 2030 with a compound annual growth rate of 7.6%, faster than the global average.</p>
<p>While Thailand is trying to seize the opportunity to become a third PCB hub alongside China and Taiwan, it is far from a given that all of these new investments will be able to bear fruit.</p>
<p>PCB makers, particularly those whose products are non-AI related, are already fighting fiercely for orders amid slowing demand from automotive, industrial and consumer electronics applications, industry people said.</p>
<p>"There are several types of newcomers among PCB makers in Thailand: the ones that brought orders with them, like Victory Giant or GCE, and the ones that come set up a plant first and then fight for orders. … The latter one is creating a heated competition here," said an executive with a PCB equipment company that serves multiple PCB makers in Thailand.</p>
<p>Several PCB makers and equipment and materials suppliers told <i>Nikkei Asia</i> that despite the nearly 60 new plants in Thailand, the ecosystem remains young and they still need to import most of the equipment and materials needed for production. It will still take years for Thailand's emerging PCB cluster to go through the necessary learning curve and become stably profitable, they said.</p>
<p>"All of the high-end materials need to be imported, and there are transportation and warehouse costs, labor and different working styles that need to be factored in," said an executive who has worked in the PCB industry for more than 20 years. "It is very much like in China 20–30 years ago, when the tech supply chain was just beginning to be established."</p>
<p>Yuan-Sung Chang, a tech analyst specializing in the PCB industry at ISTI, said the institute expects foreign PCB makers in Thailand will gradually increase their production of mid-to-higher end PCBs, which will help the country's production value to keep growing. But the analyst cautioned that global economic dynamics, geopolitical risks and local infrastructure, including the rise of labor costs, might affect the industry's development in Thailand.</p>
<p>Chiu Shih-fang, a tech supply chain analyst at the Taiwan Institute of Economic Research, holds a rather conservative view on Thailand's current situation. "The outlook of the PCB hub in Thailand is not clear at this moment, mainly due to the uncertain non-AI market demand that might be affected by the US tariff policy," Chiu said.</p>
<p>The veteran tech analyst added that many of the PCB newcomers have only built one to two production lines in the Southeast Asian country so far. "Whether they will expand into an economic scale of production will largely rely on the improvement of global economics amid the uncertain tariff policy," the analyst said.</p>
<p><i>This article first appeared on <a href="https://asia.nikkei.com/business/technology/tech-asia/thailand-carves-out-a-less-glamorous-ai-niche-printed-circuit-boards">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>.</i></p>

Thailand carves out a less-glamorous AI niche: Printed circuit boards

Semiconductors

Thailand

Southeast Asia

<p>From September 2–4, the Global Water Expo convened key players in the water technology sector at the Riyadh Front Exhibition &amp; Conference Center in Saudi Arabia. The event featured more than 300 companies from 25 countries, highlighting innovations in seawater desalination, wastewater treatment, and smart water management, with a focus on building cross-border partnerships.</p>
<h3><b>GreenTech signs MoUs with MediSun at Global Water Expo 2025</b></h3>
<p>GreenTech introduced two products, Newater House and WateRobot, alongside the signing of two memorandums of understanding (MoUs) with Singapore-based MediSun Energy, a specialist in integrated brine management. The agreements mark a milestone in GreenTech’s strategy to accelerate global market entry and broaden its international footprint.</p>
<p>The partnership integrates GreenTech’s modular water treatment system, Newater House, with MediSun’s advanced brine management solutions.</p>
<p>Newater House is a smart prefabricated water plant designed for industrial manufacturers, parks, and municipalities. It supports both brackish water (BWRO) and seawater reverse osmosis (SWRO) systems, while offering standardized design, factory-built production, and artificial intelligence-driven operation through WateRobot, and after-sales support. By integrating MediSun’s reverse electrodialysis and selective electrodialysis metathesis solutions, the collaboration aims to improve energy recovery and reduce the environmental impact of brine discharge.</p>
<p>WateRobot, GreenTech’s AI agent, applies proprietary predictive process optimization, multimodal sensing (including computer vision, audio, and infrared), and large language reasoning models. It operates on a closed-loop online-to-offline system, enabling autonomous, safe, and cost-efficient management of plant operations.</p>
<p>Together, the companies are positioning their offering as a high-efficiency, low-energy, integrated solution aimed at addressing some of the world’s most pressing water challenges.</p>
<figure id="attachment_157434" aria-describedby="caption-attachment-157434" style="width: 480px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-157434" src="https://console.kr-asia.com/wp-content/uploads/2025/09/GreenTech.jpg" alt="Photo shows GreenTech chairman Eric Zhang (first from left) presenting Newater House to visitors at the expo, including Mutaz Al Mazari (third from left), portfolio director at DMG, and Abdulmohsen Alkhayal, executive director of the local content division at the Saudi Fund for Development (fourth from left)." width="480" height="320" srcset="https://console.kr-asia.com/wp-content/uploads/2025/09/GreenTech.jpg 1080w, https://console.kr-asia.com/wp-content/uploads/2025/09/GreenTech-720x480.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/09/GreenTech-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/09/GreenTech-768x512.jpg 768w" sizes="(max-width: 480px) 100vw, 480px" /><figcaption id="caption-attachment-157434" class="wp-caption-text">Photo shows GreenTech chairman Eric Zhang (first from left) presenting Newater House to visitors at the expo, including Mutaz Al Mazari (third from left), portfolio director at DMG, and Abdulmohsen A Alkhayal, executive director of the local content division at the Saudi Fund for Development (fourth from left). Photo and header photo source: GreenTech.</figcaption></figure>
<h3><b>Global impact and Vision 2030 alignment</b></h3>
<p>Under the agreements, GreenTech will bring MediSun’s brine treatment solutions to China, while MediSun will promote Newater House across the Middle East and Africa.</p>
<p>Eric Zhang, chairman of GreenTech, said:</p>
<blockquote><p>“This partnership combines global innovation with local expertise in Saudi Arabia. Through our collaboration with MediSun, we are supporting Saudi Vision 2030 and bringing sustainable water solutions to international markets.”</p></blockquote>
<p>Joseph Chua, co-founder and president of MediSun, added:</p>
<blockquote><p>“Partnering with GreenTech is a pivotal step in our growth. We look forward to accelerating deployment of the Newater House and expanding into key markets.”</p></blockquote>
<p>The collaboration supports Saudi Arabia’s Vision 2030 agenda to establish the kingdom as a global hub for advanced desalination technology. Starting with local deployment, the companies intend to strengthen regional water security and scale sustainable water solutions globally.</p>
<h3><b>About GreenTech</b></h3>
<p>GreenTech develops advanced water treatment and resource recovery systems, providing end-to-end solutions through investment, construction, operations, and services. Guided by the vision “AI for water freedom,” its strategy focuses on resource recovery, digitalization, and product-based solutions.</p>
<p>Through Newater House and WateRobot, GreenTech serves industries including photovoltaics, printed circuit boards (PCBs), new materials, power generation, textiles, coal, and chemicals. The company’s work addresses water scarcity, operational costs, and environmental pressures.</p>
<h3><b>About MediSun Energy</b></h3>
<p>MediSun Energy is a Singapore-based company specializing in integrated brine management. Its technologies convert desalination brine and industrial waste streams into reusable resources using energy-efficient, circular processes. MediSun’s portfolio, which includes reverse electrodialysis, electrodialysis metathesis, and carbon dioxide mineralization, supports decarbonization in energy-intensive areas such as desalination and contributes to resource security.</p>
<p><i>This press release was published in partnership with </i><a href="http://www.greentech.com.cn/en/Home"><i>GreenTech</i></a><i>.</i></p>

GreenTech unveils AI-driven water solutions at Global Water Expo 2025 in Saudi Arabia

… Mandarin word for “security” appears 12 times, underscoring its importance.</p>
<p>This emphasis aligns with international debates on explainable AI and responsible AI.</p>
<p>Several new rules were also introduced this year:</p>
<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>
<p>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.</p>
<p>By tailoring strategies for each sector, the policy sets out a roadmap for embedding AI into the fabric of China’s modernization.</p>
<p><i>This </i><a href="https://mp.weixin.qq.com/s/JhXtJ_b3VGD2PNSXj4zcjg"><i>article</i></a><i> was adapted based on a feature originally written by Synced (</i><a href="http://jiqizhixin.com"><i>jiqizhixin.com</i></a><i>). KrASIA is authorized to translate, adapt, and publish its contents.</i></p>

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

… validation can wipe out the investment. But without pilot-scale testing, lab results remain theoretical.</p>
<p>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.”</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>As Zhao put it, Bloomage’s ambition is to stay young:</p>
<blockquote><p>“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.”</p></blockquote>
<p><i>KrASIA Connection features translated and adapted content that was originally published by 36Kr. This </i><a href="https://36kr.com/p/3453714805282179"><i>article</i></a><i> was written by Xiao Xi for 36Kr.</i></p>

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

Biotechnology

… href="https://36kr.com/p/3468839193303172"><i>36Kr</i></a></li>
<li aria-level="1"><a href="http://aerospaceservo.com/"><b>Aerospace Servo</b></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. <i>—</i><a href="https://36kr.com/p/3467608663758470"><i>36Kr</i></a></li>
<li aria-level="1"><a href="https://www.jiandanchina.com/"><b>Danfit</b></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. <i>—</i><a href="https://36kr.com/p/3467209106150793"><i>36Kr</i></a></li>
</ul>
<p>whereRelatedArticle</p>
<h3><b>Greenitio, Living Roots, LineWise, and more made recent headlines:</b></h3>
<ul>
<li aria-level="1"><a href="https://www.greenitio.com/"><b>Greenitio</b></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/"><b>Living Roots</b></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/"><b>LineWise</b></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>
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Deals in brief: Carro and Dat Bike raise funding, Terra Oleo debuts with seed round, six new China deals, and more