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HelloRide is making a move into autonomous driving.
On June 23, a new company named Zaofu Intelligent Technology was formally registered in Shanghai, according to information obtained by 36Kr. The firm is jointly founded by <a href="/company/catl">Contemporary Amperex Technology (CATL)</a>, <a href="/company/ant-group">Ant Group</a>, and HelloRide through their respective investment arms. With a registered capital of RMB 1.288 billion (USD 180.3 million), the company will focus on the R&amp;D, safety applications, and commercialization of Level 4 autonomous driving technology.
The name “Zaofu” refers to a legendary charioteer in ancient Chinese history, known for his exceptional driving skills. The newly formed company is backed by subsidiaries of all three founding parties, which have jointly contributed an initial investment of more than RMB 3 billion (USD 420 million).
The collaboration had been in development for months. In April, the three parties signed a cooperation agreement. Under this pact, they will combine their technological capabilities and resources to co-develop Level 4 autonomous driving systems. The partnership aims to improve the safety and reliability of the technology while accelerating its commercial deployment and supporting ecosystem growth.
Each partner contributes distinct capabilities. HelloRide has spent recent years growing its mobility business and entering overseas markets, while also applying <a href="/industry/ai">artificial intelligence</a> in transportation. This has paved the way for its move into the robotaxi sector. According to 36Kr, HelloRide has already assembled a core R&amp;D team for its robotaxi unit, drawing talent from AI foundation models and autonomous driving fields. The company plans to continue recruiting top-tier talent.
Ant has been making significant investments in foundational AI, including foundation models, reinforcement learning, and embodied intelligence. Its strength in security and privacy protection may support the development of HelloRide’s autonomous systems.
CATL is advancing the digital transformation of the battery industry. Its leading power cell technology and skateboard chassis design enable deep integration with autonomous driving modules, forming a core component of the system’s safety infrastructure.
It has been repeatedly noted in the media that the next phase of AI involves applying intelligence to the physical world. Within that trend, autonomous driving is often viewed as a key technology for general-purpose physical AI, with Level 4 development drawing particular focus due to its driverless operation. While core innovations are progressing and engineering solutions are becoming more refined, achieving reliable performance across varied environments remains a complex technical hurdle.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3348497888877185">article</a> was written by Ren Cairu for 36Kr.

CATL, Ant, and HelloRide launch joint venture to advance Level 4 driving autonomy

Ant Group

East Asia

China

Transportation

Autonomous Vehicles

Mobility

… off-the-shelf options. Yarbo had to develop them from scratch, increasing both cost and development time.
This reliance introduced risks, such as supplier delays or material price fluctuations that could disrupt deliveries or impact customer satisfaction.
Nonetheless, Yarbo fulfilled all orders from its presale campaign, and early customer feedback has been positive.
Now the company must tackle a different challenge: growing brand awareness and boosting sales in a market with low repeat purchase rates.
<h3>More than a snow machine</h3>
While snow removal is essential, it’s a seasonal task. Yard care, by contrast, spans the full year. In the US, FHWA data shows that as of 2021, over 80 million of the country’s roughly 120 million homes were single-family residences. These typically include driveways, lawns, and walkways, often across lots of 500 square meters or more. Regular upkeep includes mowing, leaf blowing, and debris clearing.
For many homeowners, the ideal robot is multipurpose. A product that works across seasons is easier to justify in terms of cost and storage.
“Yard robots are not impulse buys,” Huang said. “People want to know they’ll actually use them, and that they’ll work.”
<figure id="attachment_154910" aria-describedby="caption-attachment-154910" style="width: 480px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-154910" src="https://console.kr-asia.com/wp-content/uploads/2025/06/Yarbo-CES-2025.jpg" alt="Photo shows Yarbo’s booth at CES 2025." width="480" height="360" srcset="https://console.kr-asia.com/wp-content/uploads/2025/06/Yarbo-CES-2025.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/06/Yarbo-CES-2025-720x540.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/06/Yarbo-CES-2025-1024x768.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/06/Yarbo-CES-2025-768x576.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/06/Yarbo-CES-2025-1536x1152.jpg 1536w" sizes="(max-width: 480px) 100vw, 480px" /><figcaption id="caption-attachment-154910" class="wp-caption-text">Photo shows Yarbo’s booth at CES 2025. Photo source: Yarbo.</figcaption></figure>
Yarbo’s robots are built with that in mind. The modular platform supports snow removal in winter, mowing in summer, and leaf blowing in fall. It can cover up to six acres and clear up to 2,000 square meters in a single session. Its track-based design offers strong off-road performance, and its flexible chassis can handle slopes of up to 30 degrees and horizontal tilts of up to 15 degrees.
It doesn’t come cheap. The base unit starts around USD 4,000, and a full setup with snow, lawn, and leaf modules can reach USD 7,000.
Many users, according to Huang, spent weeks researching before deciding to buy. They are drawn to the robot’s multi-season functionality, as well as the cost efficiency that comes from a modular platform. The more often it gets used, the more value it offers, building loyalty and encouraging long-term adoption.
Looking ahead, Yarbo plans to expand its range of modules to include salt spreading, fertilizing, and even fruit picking. The goal is to evolve from today’s “1+3” model into a fully flexible “1+N” platform. The company currently operates manufacturing facilities in Huizhou, Guangdong, and Jiashan, Zhejiang.
As one of China’s leading yard robotics exporters, Yarbo appears poised for large-scale commercialization. In a market crowded with lawn and pool robots, its focus on snow removal may offer a viable model for others seeking to differentiate.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3321493660428808">article</a> was written by Huang Nan for 36Kr.

Too cold to shovel? This startup built a snow robot that actually works

Deep Tech

… of challenges. Potential customers have turned down Windrose's products over the stigma that Chinese products are second-rate, Han said.
"Being a Chinese-origin company, we're getting more scrutiny," he said. He also pointed to issues with raising money from foreign investors as a China-domiciled startup.
Trump has sought to restrict US investment in strategic sectors in China and is looking to limit how Chinese companies can list on US stock exchanges.
Despite these headwinds, Han remains confident his company can go public in the US this year, when its goal will be to raise USD 500 million. He has set his sights on France for a secondary listing.
With nearly all Chinese EVs facing barriers to enter the US market, and as the Trump administration tightens screws, <a title="" href="https://asia.nikkei.com/Spotlight/Trump-administration/US-to-aggressively-revoke-Chinese-and-Hong-Kong-student-visas" target="_blank" rel="noopener">even on Chinese students</a>, Windrose's bets on America appear audacious. Yet Han is unfazed.
"I try to focus on building the product in the most efficient but really good way," he said. "And then naturally, we will find solutions if we understand the market quickly and deeply enough."
This article first appeared on <a href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Chinese-electric-truck-maker-Windrose-rolls-into-US-through-Trump-fog">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 electric truck maker Windrose rolls into US through Trump fog

Electric Vehicles

<a href="/company/meituan">Meituan</a> Youxuan is shutting down operations in multiple regions while retaining business in areas such as Guangdong and Hangzhou, according to multiple independent sources. The decision, finalized on June 23, had been under internal discussion since last week.
Many members of the Youxuan team are now shifting to support a newly launched offline retail initiative under Xiaoxiang Supermarket, internally referred to as the “N” project. This project, led by Gao Yulong, focuses on running physical storefronts. Others affected by the closure are seeking new opportunities within the company.
Before the quick commerce boom took off, Meituan’s top priority had been cost-cutting across new business lines, with Youxuan at the center of these efforts. “No matter whether we continued or shut it down, there was always going to be pressure,” one Meituan employee told 36Kr.
Over the past year, Youxuan’s trajectory has focused on changes in organizational structure and merchandising strategy.
On the organizational side, the company adopted a more centralized model. In September 2024, Meituan restructured its internal setup, consolidating 17 provincial divisions into nine. The move was aimed at reducing costs and improving efficiency, according to a person familiar with the matter. In addition, operations and merchant category management functions were merged under Li Pengju. The restructuring was intended to link strategic decisions more closely to real-time business data, consistent with how Meituan typically manages its ventures.
This heightened focus on category management also drove changes in Youxuan’s merchandising strategy. Under an ongoing directive to limit losses in new business lines throughout 2024, Youxuan’s total gross merchandise value declined from over RMB 100 billion (USD 14 billion) to RMB 70–80 billion (USD 9.8–11.2 billion). The top internal goal became improving profit margins, with product assortment emerging as the primary lever.
In this context, the platform significantly reduced its reliance on loss-leading items, white-label goods, and subsidies. For instance, Meituan eliminated most white-label SKUs and mandated profit margin increases across categories. “Eggs are one of the most classic loss leaders in retail, online or offline,” said a person close to Youxuan. “But during the most aggressive margin-chasing period, even eggs were expected to turn a profit. That was clearly misguided.”
This broad focus on profitability inevitably reduced sales volume. Earlier in the year, Youxuan also ended most of its consumer subsidies.
By around August 2024, the Youxuan team had stopped closely monitoring its main competitor, Duoduo Maicai. “We used to obsessively track market share. In our stronghold regions, we could capture more than half the market. In weaker areas, we’d still secure 10–20%,” one source said. “Now, it’s just not a topic in meetings anymore.”
In short, a prolonged period of losses and a persistently unclear path to a sustainable model placed Youxuan in a bind. So why has Duoduo Maicai managed to turn a profit?
One Youxuan employee explained to 36Kr, “Duoduo operates as a platform. It generates revenue from merchant commissions and marketing fees, among other streams.” That model aligns with Pinduoduo’s DNA as a platform company. For Meituan, which built its business on food delivery, Youxuan’s lower-tier city focus and low average order value were unfamiliar territory. “From the start, the positioning was different. Meituan took a more self-operated approach. Without constant subsidies and aggressive traffic acquisition, it’s tough to beat Duoduo on market share.”
The shutdown of Meituan Youxuan and the pivot toward offline retail through the Hema-like “N” project mark Meituan’s latest adjustment to its new business portfolio. “If this model is going to work, private-label development must be done right,” the same source said. One thing remains constant: product strength, and the supply chain that supports it, continues to be the core challenge.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3348755327998852">article</a> was written by Ren Cairu for 36Kr.

Meituan shutters Youxuan in several regions, shifts focus to offline retail

On-demand Services

E-commerce

Retail

Consumer Economy

Alibaba hits quick commerce stride with Taobao and Ele.me

Ele.me

Taobao

… hurdle. Outdoor environments are complex and place high demands on sensing and navigation systems. Core components like motors, batteries, positioning systems, and sensors make up the majority of production costs. Navigation, in particular, involves difficult tradeoffs between cost and precision.
For newcomers, a combination of capital, technical know-how, and a strong team is essential. As Suntop founder Hu Yue once noted, reaching scale in this business could require at least RMB 100 million (USD 14 million).
Performance remains mixed. Overseas tech media reviews continue to flag issues around cost-effectiveness, intelligence, and adaptability. At the same time, a price war has already begun. Some boundary-free models are now priced on par with traditional mowers. The technology isn’t mature yet, and the space is already becoming crowded.
<h3>Mass production is just the start, survival comes next</h3>
Even after mass production begins, lawn mowing robots face ongoing challenges in sales channels and after-sales support.
Outdoor equipment has traditionally been sold offline at big-box retailers or local shops, where shelf space, brand reputation, and service support matter. Established yard tool brands have spent years cultivating these relationships, raising the bar for new entrants. Online sales require different investments: steady ad spending, brand-building, and logistics capabilities, all of which stretch company resources. Turning an innovative product into a lasting business also means setting up robust return and repair systems in key markets.
While the long-term opportunity remains substantial, the sector is clearly entering a period of consolidation. Leading firms are growing shipments, while smaller players lacking resources, technology, or manufacturing expertise are under pressure.
This summer could be a turning point. Like the grass itself, demand for mowing robots is seasonal. Sales peak from March to July, with Amazon Prime Day in July offering a potential lift. After September, demand drops off.
For companies facing both short-term survival and long-term sustainability, the way forward lies in striking a balance between innovation, branding, service quality, supply chain efficiency, and localized operations abroad. Only those who manage that mix will have a real chance of staying in the game—let alone winning it.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3338969886109952">article</a> was written by Shi Yi for 36Kr.

Boom, bust, and breakout: China’s lawn robot race hits a tipping point

… bestsellers.
Beyond Amazon, Govee built a presence on eBay, Walmart, BestBuy, <a href="/company/tiktok">TikTok</a>, and a D2C site, which now functions as a co-creation community. According to Similarweb, the site averages 1.6 million monthly visits.
Govee has also invested in branded collaborations. In late 2023, it partnered with the producers of Dune: Part Two to launch a co-branded smart TV backlight. The product sold over 33,000 units by May 2024, generating USD 3.58 million in revenue and entering Amazon’s top ten for LED strips.
Govee may very well be one of the most successful cross-border brands in recent years. Its path is hard to replicate, but it also shows how much unmet niche demand remains overseas. Even if most companies won’t become the next Govee, there may still be treasure buried in the margins.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3324313016461576">article</a> was written by Ou Xue for 36Kr.

From Anker to IPO: How Govee’s founder turned light strips into a global brand

Anker

Hardware

<blockquote>China Recap is a weekly roundup tracking Chinese companies expanding abroad, covering market entries, funding rounds, product launches, and global partnerships.</blockquote>
China’s corporate globalization strategy is evolving fast. Industry giants are rewriting the global playbook, while a new generation of companies charts fresh paths overseas.
China Recap tracks both—focusing on strategic expansion, brand building, and localized operations—to help readers make sense of shifting trends and understand how Chinese firms are reshaping their global approach.
Here’s what made headlines last week:
<h3>China pushes into new AI frontiers</h3>
<ul>
<li aria-level="1">Chinese <a href="/industry/ai">artificial intelligence</a> startup <a href="/company/minimax">MiniMax</a> is weighing a Hong Kong IPO, sources said, marking a potential first for the country’s AI sector. Backed by <a href="/company/alibaba">Alibaba</a> and <a href="/company/tencent">Tencent</a>, the firm raised USD 600 million in 2023 and recently launched new reasoning and agentic tools as it races to compete with global peers. —<a href="https://www.bloomberg.com/news/articles/2025-06-18/alibaba-backed-ai-dragon-minimax-is-said-to-plan-hong-kong-ipo">Bloomberg</a></li>
<li aria-level="1"><a href="/company/baidu">Baidu</a> hosted a six-hour live stream using digital avatars generated with the aid of AI, including a virtual version of live streamer Yonghao Luo, drawing over 13 million views and RMB 55 million (USD 7.7 million) in sales. Powered by Ernie models, the event is part of Baidu’s broader push to commercialize digital humans in <a href="/industry/e-commerce">e-commerce</a>.</li>
<li aria-level="1"><a href="/company/byd">BYD</a> has partnered with <a href="/company/bytedance">ByteDance's</a> Seed and Volcano Engine teams to co-develop lithium batteries using AI, launching a joint lab to accelerate breakthroughs in fast-charging, lifespan, and safety. The tie-up builds on BYD’s use of ByteDance’s BAMBOO framework, which helped optimize electrolytes for its new megawatt fast-charging battery by cutting trial-and-error cycles and speeding development.</li>
<li aria-level="1">MiniMax has launched M1, an open-weight hybrid attention model built for long-context reasoning and complex tasks. With 456 billion parameters and support for one million-token inputs, M1 reportedly outperforms DeepSeek-R1 and Qwen 3 in software and tool use benchmarks while using 75% less compute.</li>
<li aria-level="1">HongShan (formerly Sequoia China) open-sourced two datasets from its xBench benchmark to help developers test reasoning and search skills in real-world AI tasks. The ScienceQA and DeepSearch sets feature high-difficulty, regularly updated challenges for large language models and AI agents.</li>
</ul>
<h3>China advances brain-computer tech trial</h3>
China began its first clinical trial of wireless brain-computer interface (BCI) technology, with a paralyzed patient reportedly controlling games by thought weeks after surgery. The implant, said to be more flexible than Neuralink’s, makes China the second country to reach this stage. Market approval could come by 2028. —<a href="https://www.bloomberg.com/news/articles/2025-06-16/china-joins-us-in-brain-implant-race-with-clinical-trial">Bloomberg</a>
<h3>Taobao sees surge in pet product sales</h3>
Taobao’s 618 campaign saw a surge in cross-border pet product sales, with more than 1,000 merchants doubling their year-on-year revenue. Chinese brands led in pet food and smart care devices, while small pet supplies gained global traction. Top markets included Hong Kong, Taiwan, and countries across Southeast Asia. —<a href="https://tech.caijing.com.cn/20250617/5096237.shtml">Caijing</a>
<h3>Trip.com expands global hiring, partnerships</h3>
Trip.com Group is accelerating its global expansion, opening over 1,100 positions across 75 cities in 23 countries and launching a RMB 1 billion (USD 140 million) tourism innovation fund. With Q1 2025 international bookings up 60% YoY, CEO Jane Sun said the firm aims to double its overseas revenue share within 3–5 years. The company has also signed hotel partnerships in Thailand and Malaysia. —<a href="https://36kr.com/p/3335951038687748">36Kr</a>
<h3>Leapmotor opens first store in Hong Kong</h3>
<a href="/company/leapmotor">Leapmotor</a> opened its first Hong Kong store on June 11, also its 1,500th globally, as it pushes into a market where <a href="/industry/ev">electric vehicles</a> reportedly make up over 75% of new car sales. CEO Zhu Jiangming said the city is vital for global investor visibility. The move expands Leapmotor’s presence amid growing international competition from Chinese EV peers. —<a href="https://www.jiemian.com/article/12888369.html">Jiemian News</a>
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. <a href="mailto:changweiqian@global.36kr.com">Get in touch</a> to share your story.

China Recap | AI here, AI there, AI everywhere

… Asian audiences who are familiar with it, but may create a cultural barrier for Western audiences," HKUST's Du said.
Overall, less than 2% of Ne Zha 2 ticket sales have come from outside mainland China. Still, that marks an improvement over other recent Chinese blockbusters, some of which brought in less than 0.1% of their box office abroad. By comparison, Avatar, still the world's all-time box office champion, generated 73.1% of its USD 2.92 billion in ticket sales outside its US home market.
Notably, while Ne Zha 2 is now four places behind Avatar in total take, Jiaozi's feature ranks a mere ninth in ticket sales outside China for a Chinese-language movie, according to Chinese film ticketing platform Maoyan. So far, the animated feature's non-China box office amounts to barely a quarter of that of the 2000 Hollywood co-production Crouching Tiger, Hidden Dragon.
Even so, the big payoff is already inspiring Chinese companies and officials to plan for more animated productions.
Enlight Media, one of the feature's main backers, is investing RMB 1.2 billion (USD 168 million) in a new Beijing animation center. Its net profits for the January-March quarter rose nearly fivefold from a year earlier to RMB 2 billion (USD 280 million) thanks to Ne Zha 2. Enlight is developing six more animated titles, with plans for at least ten more in the works.
This kind of outcome shows how the success of Ne Zha 2, alongside that of Black Myth: Wukong, "are achievements of China's private sector," in the view of Ngeow Chow Bing, director of the Institute of China Studies at the University of Malaya.
"They are successful independent of any state-directed soft power initiatives," he said. "It shows the amount of enormous creativity within the private (sector)."
Yet as with Black Myth: Wukong and the artificial intelligence platform DeepSeek, the Chinese state began to throw considerable weight behind boosting Ne Zha 2 at home and abroad once the movie showed its market potential. Schools, companies and community organizations were encouraged to turn out for group viewings. Officials repeatedly extended the domestic run of Ne Zha 2 even as turnout trailed off and total Chinese box office receipts began plunging in March.
Still, the film's box office success dovetails with a goal set by Beijing to establish the nation as a "leading global film power" by 2035. Under a plan adopted four years ago, the country is to enhance its capacity to produce a "steady stream of outstanding works that embody the Chinese spirit, values, strength, and aesthetics"—exactly the traits which state media have praised Ne Zha 2 for.
The welcome reception the film has gotten suggests that animation might indeed offer China, as with Japan before it, a shortcut to influence viewing habits abroad.
"Ne Zha 2 could represent a blueprint for Chinese producers on how to find a global audience," said Rob Mitchell, director of theatrical insights at Gower Street Analytics, a London-based film industry research company.
"Ne Zha 2 may represent a beginning, but it is too early to identify a trend," he added. "To be more than an anomaly, there needs to be a steadier pipeline of appealing hits coming through."
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/Big-in-Asia/Ne-Zha-2-China-makes-a-2bn-blockbuster-all-of-its-own">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>.

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