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… company upgraded more than 1,026 locations to its ninth-generation store format, each averaging monthly sales of RMB 360,000 (USD 50,400).
Online, the numbers were stronger. As market conditions improved, e-commerce rose to account for 31% of total revenue. Online D2C sales climbed 10–20%.
Li-Ning also upped its R&amp;D investment to 2.4% of revenue, a 0.2 percentage point increase from the previous year. Cumulatively, the company has invested over RMB 3.5 billion (USD 490 million) in innovation over the past decade. The payoff is visible in footwear, which now represents 49.9% of revenue—up from 48.5% last year.
Inventory turnover remains healthy. The full-channel turnover cycle was held at around four months, with an average turnover period of 64 days—just one day longer than the previous year, and still ahead of most peers. Qian noted that the company now reviews inventory performance weekly across departments.
Still, macro pressures persist. Even Nike is restructuring under new leadership, with Elliott Hill steering the brand back to core performance and leaner operations. Anta, too, is reshaping its product mix to reflect a more value-conscious consumer base.
Across the board, the message is clear: scale for its own sake is no longer the priority. Nor is cutting prices at the cost of credibility.
For 2025, Li-Ning expects flat revenue growth and a high single-digit gain in net profit margin, according to Zhao.
One new variable could help lift the brand. Earlier this year, Li-Ning succeeded Anta as the official sportswear partner of the Chinese Olympic Committee for 2025–2028. Anta had previously used that platform to build brand stature and access top-tier events. Now it’s Li-Ning’s turn.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3229641963437449">article</a> was written by Xie Yunzi for 36Kr.

With profits down, Li-Ning leans on core sports to weather a slower market

East Asia

Li-Ning

China

Retail

Consumer Economy

… Capital. The funds will be allocated toward R&amp;D and product iteration. —<a href="https://36kr.com/p/3239621788565507">36Kr</a></li>
<li aria-level="1">Mitoch, a veterinary biotechnology firm, has secured pre-Series A funding worth tens of millions of RMB. Triwise Capital led the investment. Proceeds from this round will support the clinical translation and development of mesenchymal stem cell (MSC) drugs targeting geriatric diseases in animals. —<a href="https://36kr.com/p/3238685304913536">36Kr</a></li>
<li aria-level="1"><a href="https://galaxea.ai/">Galaxea AI</a>, which specializes in embodied AI, has closed its Series A2 and A3 rounds of financing, securing over RMB 300 million (USD 42 million) in total funding. Cathay Capital led the round, with participation from Lenovo Capital, Haier Capital, and follow-on investments from IDG Capital, GL Ventures, Baidu Venture, and Resonance Ventures. The company has pulled in around USD 100 million this year alone. —<a href="https://36kr.com/p/3233799096516614">36Kr</a></li>
<li aria-level="1">Botinkit, a developer of AI-powered digital kitchen systems, has raised an eight-figure USD sum in a Series B funding round. The round was led by 5Y Capital, with Alphaist Partners participating. Stars Capital acted as the financial advisor. The company plans to accelerate product development and international rollout. —<a href="https://36kr.com/p/3232699644083845">36Kr</a></li>
</ul>
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<h3>Nul, SkyeChip, Betterteem, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Nul, a climate tech startup, secured a USD 500,000 pre-seed investment from sustainability-focused venture builder Wavemaker Impact, the platform from which it launched.</li>
<li aria-level="1"><a href="https://skyechip.com/">SkyeChip</a>, an integrated circuit (IC) design firm, secured an undisclosed investment from Gobi Partners through the Dana Impak Fund, which is backed by Khazanah Nasional.</li>
<li aria-level="1">Betterteem, a human resource tech startup based in the Philippines, has secured seed funding from 1337 Ventures. The amount was not disclosed.</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: Cinch secures backing to expand circular tech access, Australia’s Gridsight raises Series A funding, latest China deals, and more

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It’s been a brutal week for capital markets.
On April 2, US President Donald Trump signed an executive order slapping “reciprocal tariffs” on over 100 countries. US stock indexes nosedived, and the ripple effects hit Asian equities, crude oil, cryptocurrencies, and precious metals. Still, in the midst of market chaos, a curious calm persists among the exporters and cross-border merchants most directly in the line of fire.
For many, the shock wasn’t in the strike—it was in the scale. Ever since Trump retook office, a segment of the global trade community has been mentally preparing for trade war flashbacks. But few expected the hit to land this hard, this soon.
Under the new rules, nearly all Chinese exports to the US will face a 34% tariff, on top of existing duties. For products like textiles and machinery, the combined rate could reach as high as 54%.
This time, though, it’s not just about China. Factories in Vietnam, Malaysia, and Indonesia that had picked up slack during previous trade disruptions are also caught in the crosshairs. Trump's order targets a sweeping list of trade partners, undercutting many of the diversification strategies companies adopted after the last round of tariff tensions.
Vietnam, long a poster child for <a href="https://www.spglobal.com/market-intelligence/en/news-insights/research/asean-china-plus-one-destination-current-situation-risk-outlook">“China Plus One,”</a> had absorbed a large share of China’s manufacturing spillover over the past decade. But much of that momentum was built on Chinese inputs. In key industries like electronics and textiles, Vietnam often functions as a final assembly hub—importing components from China, then exporting finished goods to the US. That structure now works against it. Vietnam not only faces a hefty 46% tariff—one of the steepest under the new rules—but also struggles to meet stricter origin requirements that make Chinese-linked exports harder to clear.
According to the <a href="https://oec.world/en/profile/bilateral-country/chn/partner/vnm">Observatory of Economic Complexity (OEC)</a>, China exported USD 11.2 billion worth of goods to Vietnam in February, a 36.2% jump from the year before. Over the same period, Vietnam’s exports to China rose by 13.6%, reaching USD 6.5 billion.
To cushion the blow, Vietnam’s top leadership has reportedly signaled a willingness to engage with Washington on potential tariff exemptions or bilateral trade terms.
Mexico may be one of the few countries that comes out ahead. Imports from Canada and Mexico remain governed by rules implemented in early March. <a href="https://ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement">USMCA</a>-compliant goods won’t be subject to the new tariffs, though some exceptions remain. For instance, Canadian energy and potash will face a 10% duty, and fentanyl-related products will be taxed under a separate policy.
The broader message is clear: Trump is reactivating tariffs as both cudgel and currency in a new phase of economic brinkmanship.
That strategy has forced exporters and importers into a grim calculus. When Trump floated a 10% tariff hike in February, businesses found ways to cope—split the cost, tweak margins, pass a fraction on to consumers. But the April order pushes past that threshold. Many now say it’s financially unfeasible to absorb the added costs or even maintain US operations at scale.
Across boardrooms and logistics hubs, companies are splitting into three camps. Some have frozen orders from US buyers altogether, bracing for whiplash before making any moves. Others are accelerating shifts away from the US entirely, betting on Southeast Asia, the Middle East, or other markets seen as less volatile.
A third group is trying to adapt without pulling out. Some are leaning on overseas warehouses to mask the China leg of their supply chain, while others are embracing semi-managed models—like those used by <a href="/company/shein">Shein</a> and <a href="/company/temu">Temu</a>—that route inventory through intermediary hubs. The goal is to soften the tariff blow by changing how and where goods enter the US. But as origin rules tighten and transshipments come under greater scrutiny, these workarounds may not hold up much longer.
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Still, not every company has the luxury of walking away.
Cross-border e-commerce businesses, in particular, are locked in. The US accounted for about USD 1.2 trillion in online retail sales in 2024, according to <a href="https://www.fticonsulting.com/insights/reports/2024-online-retail-report">FTI Consulting</a>—nearly nine times the projected size of Southeast Asia’s e-commerce market in 2025, based on <a href="https://www.statista.com/outlook/emo/ecommerce/southeast-asia">Statista</a> data. Some companies have already invested heavily in localization or signed long-term distribution agreements that effectively tie them to the US market.
For those firms, the new tariffs land like a one-two punch.
On the Chinese side, countermeasures were swift.
Beijing’s Tariff Policy Commission announced that, starting April 10, all US imports would be hit with a 34% tariff on top of existing duties. In parallel, the Ministry of Commerce placed 16 US entities—including High Point Aerotechnologies—under export control measures, and added 11 others, such as drone maker Skydio, to its “Unreliable Entity List.”
Meanwhile, on April 4, Chinese authorities opened an anti-dumping investigation into X-ray tubes from the US and India. That same day, new export restrictions were introduced on seven rare earth elements—including dysprosium, terbium, and gadolinium—critical for manufacturing electronics and defense systems. In coordination with customs authorities, import qualifications have also been suspended for several US firms dealing in sorghum, meat and bone meal, and poultry products.
None of this is unfamiliar territory. But this round feels different—not just for its breadth, but for the underlying uncertainty.
Seasoned exporters have weathered plenty, but there’s a sense that this is only the beginning. And right now, all anyone can do is wait—and brace for what’s next.

Trump’s tariffs leave exporters with no easy outs—whether in China or beyond

E-commerce

Logistics

Vietnam

… display.”</blockquote>
Robotics expert Wang Tianmiao was even more direct in a September 2024 interview:
<blockquote>“[Despite] all this heat, people are starting to realize that humanoid robots today mostly just dance, flip, and patrol exhibition halls.”</blockquote>
Even supposedly practical applications are under scrutiny. Automotive factories are a favorite use case, partly due to Tesla’s own strategy. In 2023, several Chinese startups staged high-profile deployments in car plants. But insiders say many of these are more demo than deal. “They’re not sales—they are strategic tie-ups,” one investor said.
Spirit AI founder Han Fengtao told 36Kr that car factories aren’t ideal testbeds. “Embodied intelligence and humanoid robots are both nascent. Trying to combine two immature technologies and apply them to a very complex task is just too ambitious.”
What’s left is a familiar disconnect: ballooning valuations with little revenue to back them up.
“People are benchmarking across sectors,” said the dual-currency investor. “In most industries, a tenfold price-to-sales ratio is high. Some need price-to-earnings. But here, many of these companies haven’t even gone from zero to one. They haven’t found PMF. So how can they be worth tens of billions of RMB?”
Even so, not all bubbles are bad. Zhang argues they are a natural part of tech cycles. But without meaningful progress on commercialization and core tech, this bubble could go the way of the metaverse, community group buying, or coworking spaces—big on promise, short on delivery.
The real question, then, is whether to lean in or walk away.
And that may hinge on a single factor: whether foundation models in embodied intelligence can break through and reach its “GPT-3.5 moment.”
No one—not investors, not scientists—can say for sure. But the clock is ticking. And at this crossroads, the sector must pick a direction: forward or out.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3233197418741769">article</a> was written by Wang Fangyu for 36Kr.

Bubble or breakthrough? China’s humanoid robotics race faces reality check

Artificial Intelligence

Deep Tech

Embodied Intelligence

… reorganization that merged the delivery channels of both brands. Teams and sales infrastructure are now shared to cut costs and boost efficiency. In remote cities like Harbin, Yinchuan, Urumqi, and Xining, Onvo’s sales leads have been replaced by regional heads from Nio’s main business.
Even with its current setbacks, Onvo still has a few strong cards in hand. Its next model, the L90—a three-row SUV aimed at larger families—is priced under RMB 300,000 (USD 42,000). The vehicle will make its debut at this year’s Auto Shanghai and is slated for delivery in the third quarter. A third model, this time a five-seat SUV, is expected to roll out in Q4 2025.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3232316075785858">article</a> was written by Li Anqi for 36Kr.

Nio replaces Onvo president Alan Ai after missing sales targets

Transportation

Electric Vehicles

Mobility

The US will end tariff exemptions for low-cost shipments from China and Hong Kong on May 2, President Donald Trump announced on April 2, taking aim at the de minimis policy that has become popular among e-commerce companies.
The decision was part of a package of trade policy changes including <a title="" href="https://asia.nikkei.com/Economy/Trade-war/Trump-reveals-reciprocal-tariffs-34-on-China-24-on-Japan2" target="_blank" rel="noopener">sweeping tariffs of up to 49%</a> on trade partners the Trump administration accuses of "unfair trade practices." The broad moves are expected to escalate a <a title="" href="https://asia.nikkei.com/Economy/Trade-war" target="_blank" rel="noopener">trade war</a> and reshaping global commerce.
The de minimis policy exempts international shipments from import taxes and customs inspections if the retail value is USD 800 or less. Trump attempted to end cheap Chinese goods in a February 1 executive order, which imposed 10% tariffs on goods from China and ended the policy. The decision was paused after it created logistical issues and overwhelmed postal services and customs with inspection of millions of low-value shipments.
Chinese packages that are considered under de minimis will be subject to a duty rate of 30% or USD 25 per item. The price per item will increase to USD 50 after June 1, according to the White House.
De minimis has allowed for "deceptive shipping practices by Chinese-based shippers, many of whom hide illicit substances, including synthetic opioids," according to a White House fact sheet.
White House officials have said Canada and Mexico are conduits for imports of fentanyl and precursor chemicals in small packages are not inspected by customs agents.
Trade experts say this will increase the costs of e-commerce goods coming from China.
Many sellers, such as <a href="/company/temu">Temu</a> and <a href="/company/shein">Shein</a>, ship orders directly from China to customers to keep prices low. The number of shipments has exploded in recent years. The volume of de minimis imports more than doubled from 2020 to 2024. There were 1.4 billion packages that entered through de minimis, including about 60% coming from China.
Those supporting the end of de minimis say Chinese e-commerce retailers have exploited the policy by shipping low-cost packages to avoid paying duties, hurting American retailers.
Chinese e-commerce players have been gradually shifting their business models, adopting domestic inventory in response to the end of duty-free packages from China.
Prices on Temu and Shein will gradually rise as the cost of securing US warehouse space is taken into account, Yao "Henry" Jin, an associate professor of supply chain management at Miami University of Ohio, said.
"Their pricing advantage are now disappearing because they now have the same cost factors that Amazon has always had," he said.
This article first appeared on <a href="https://asia.nikkei.com/Economy/Trade-war/U.S.-revokes-duty-free-status-for-cheap-China-goods-used-by-Shein-Temu">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>.

US revokes duty-free status for cheap China goods used by Shein, Temu

Pinduoduo

Shein

Temu

On-demand Services

… 1080w" sizes="(max-width: 720px) 100vw, 720px" /><figcaption id="caption-attachment-152394" class="wp-caption-text">Some Dreame robot vacuums feature mechanical arms that help move obstacles, scrub away stains, and capture dust more efficiently. Photo source: Dreame via 36Kr.</figcaption></figure>
These core systems, proven in Dreame’s cleaning products, are now being integrated into refrigerators, air conditioners, and washing machines. This not only reduces R&amp;D costs but also shortens product development cycles, enabling faster iteration.
Higher prices and longer purchase cycles define the major appliance segment. Consumers often want to test products in person, and installation and after-sales support are critical to the buying experience.
Here, Dreame benefits from an existing commercial footprint. It operates more than 5,500 offline stores across over 100 countries and regions, with presence in retail chains like Walmart, Carrefour, Suning.com, and Gome. Internationally, it partners with distributors such as MSD, Boulanger, and Coolblue.
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By extending its tech stack into new product lines, Dreame creates a compounding effect—where strengths in R&amp;D, manufacturing, and distribution reinforce one another across categories.
Market timing also works in its favor. Backed by government subsidies and green consumption incentives, China’s home appliance sector saw both sales volume and average prices rise in 2024. Retail sales in the first three quarters of the year even exceeded pre-pandemic peaks from 2019.
Factor in a typical replacement cycle of 10–12 years, and it’s clear the global market is entering a major refresh phase. For companies like Dreame, that opens the door to win share—if they can execute with precision.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3225666046508422">article</a> was written by Huang Nan for 36Kr.

Dreame is bringing its machines into your kitchen—and it’s just getting started

Late on March 29, a fatal crash involving a Xiaomi SU7 took place on an expressway in Anhui, leaving three people dead. The incident quickly gained national attention.
By April 1, <a href="/company/xiaomi">Xiaomi</a> founder and CEO Lei Jun had taken to Weibo, saying the company would continue cooperating with the police, monitor developments closely, and do everything it could to address the concerns of the victims’ families and the wider public.
The crash triggered a steep drop in Xiaomi’s stock price and sparked a broader debate over the safety of its vehicles and smart driving systems. International media coverage followed, focusing heavily on the severity of the accident.
Just weeks earlier, Xiaomi had announced plans to launch its vehicles overseas by 2027. Now, that ambition is under fresh scrutiny. Overseas outlets have zeroed in on unverified reports that the car doors may have jammed and that a battery explosion occurred—details that, if left unaddressed, could heighten concerns not just around Xiaomi, but around Chinese new energy vehicle (NEV) brands as a whole.
In today’s competitive global automotive market, the "Made in China" label is facing a new stress test. In emerging markets such as Southeast Asia and the Middle East, consumers often have little patience for safety lapses. In mature markets like Europe and the US, brand credibility and long-term tech performance matter just as much—if not more.
Chinese NEV exports are nothing new. Established players like BYD, MG, and Geely are already on the road overseas, joined by newer names like Xpeng Motors, Li Auto, and Neta. But high-profile incidents like this risk reinforcing long-standing concerns, potentially creating new headwinds for global expansion. It also raises the stakes for transparent communication and safety education. Some automakers, like Zeekr, have already begun showing users how to manually override electric door locks in emergencies.
One key debate sparked by the crash centers on smart driving: how much responsibility does driving assistance technology bear when tragedy strikes?
Xiaomi said the vehicle was in navigate-on-autopilot (NOA) mode, traveling at 116 kilometers per hour. The system detected an obstacle and began to slow down. One second later, NOA disengaged, handing control back to the driver. The crash occurred within the next one to two seconds.
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Xiaomi had previously highlighted the SU7’s 16 standard safety features, including automatic emergency braking (AEB). That claim has prompted further questions: was AEB active at the time of the crash? In response, Xiaomi clarified that the standard SU7 includes forward collision warning (FCW) and AEB, designed to detect vehicles, pedestrians, and two-wheelers. The AEB system operates at speeds between 8–135 km/h, but like others in the industry, it doesn’t respond to cones, water barriers, animals, or rocks. That limitation underscores a broader disconnect between what users expect and what current AEB systems can actually do.
Smart driving is now a key differentiator for many brands, and its adoption is growing fast. Between January and November 2024, 1.75 million NOA systems were installed as standard in passenger cars in China, according to the Gasgoo Research Institute.
As Chinese automakers move beyond domestic borders, their smart driving solution providers are following suit—sometimes in step, sometimes on their own. Markets with more permissive regulatory environments, like the Middle East, offer attractive testing grounds. But in places like Europe, stringent regulations still pose challenges—from tech specs and data security to road testing and legal liability. Even Tesla’s “Full Self-Driving” (FSD) system hasn’t been widely approved there. In that context, the Xiaomi crash may prompt even deeper scrutiny of China’s smart driving technologies and stall overseas deployment.
China’s carmakers have made enormous strides in smart mobility at home. But exporting those innovations brings a new set of hurdles—chiefly, whether they are safe, reliable, and legally viable in other markets.
This isn’t just Xiaomi’s problem. It’s an inflection point for the entire sector, which is now juggling rapid innovation, cost pressures, and a push for global growth. Whatever the platform—mechanical or digital—one principle should remain constant: safety and human utility must come first.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3232922252263049">article</a> was written by Chang Weiqian and Shi Yi for 36Kr.

Recent SU7 crash tests Xiaomi’s EV ambitions—and China’s credibility abroad

Chery is reshuffling the deck again.
Several electric vehicle models that once sat under its iCar sub-brand are being pulled back into the company’s flagship label. According to multiple sources familiar with the matter, the QQ Ice Cream, eQ1, and eQ5—each aimed at different corners of the EV market—will now fall under the direct oversight of Li Xueyong, general manager of Chery’s automotive sales division.
At the same time, a new model is waiting in the wings. Dubbed the QQ Duomi, the EV was shown behind closed doors at a dealer summit in Wuhu and is slated to launch shortly after its April 2 reveal.
The QQ Ice Cream and eQ1 are <a href="https://kr-asia.com/chinas-micro-evs-are-filling-europes-streets-but-for-how-long">compact, budget-friendly EVs</a>. The former, priced below RMB 50,000 (USD 7,000), sold 67,800 units in 2023. The eQ1, which ranges between RMB 50,000–70,000 (USD 7,000–9,800), moved 29,400 units last year. Meanwhile, the eQ5 sits higher up the ladder—a midsized SUV priced around RMB 150,000 (USD 21,000).
All three models had been under iCar, a sub-brand introduced ahead of Auto Shanghai 2023 with a youthful, tech-forward image. But this year, they’ve been folded back into the core Chery brand, signaling a recalibration of the company’s approach to market segmentation.
Chery currently manages five brands: Chery, Jetour, Exeed, iCar, and Luxeed. Among them, Chery remains the most recognizable, with mainstream models like the Tiggo 8 and Arrizo 8 forming its backbone.
<figure id="attachment_150423" aria-describedby="caption-attachment-150423" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="wp-image-150423 size-large" src="https://console.kr-asia.com/wp-content/uploads/2024/10/Jetour-T2-1024x683.jpg" alt="Photo of the Jetour T2." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2024/10/Jetour-T2-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/10/Jetour-T2-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/10/Jetour-T2-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/10/Jetour-T2.jpg 1080w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-150423" class="wp-caption-text">Jetour has been one of the few bright spots among Chery’s sub-brands, with its T2 model (pictured) gaining solid traction in Dubai. Photo source: Jetour.</figcaption></figure>
Internally, iCar has already gone through a leadership transition. Zhang Hongyu, its former general manager, has been reassigned to head domestic operations. Su Jun, previously CEO of Smartmi, now leads the sub-brand.
The two executives bring markedly different playbooks. Zhang emphasized technical specs and performance benchmarks. Su, shaped by his consumer tech background, is said to be pushing iCar in a more trend-conscious direction—perhaps better aligned with the younger demographic it wants to capture.
Reassigning the QQ Ice Cream, eQ1, and eQ5 is just the start. More iCar models are likely to be reevaluated, and internal restructuring is already underway.
The QQ Duomi, Chery’s newest addition to its EV portfolio, is essentially a rebadged version of the Kaiyi Shiyue Mate—a compact five-door, five-seater micro EV produced by Kaiyi Auto. The Shiyue Mate currently sells for RMB 59,800 (USD 8,372), and the Duomi is expected to carry a similar price tag with only a slight markup.
The two cars share key features, including fast and standard charging options. But the Duomi will differ in one critical area: its battery. While the Shiyue Mate runs on CATL battery packs, Duomi is expected to use cells from Gotion High-tech. Chery will handle the battery assembly in-house, drawing on its own systems for thermal management and power distribution.
Chery chairman Yin Tongyue once described the company as <a href="https://kr-asia.com/can-chery-establish-a-foothold-in-the-new-energy-vehicle-industry">“early to rise, but late to gather momentum”</a> in the EV race. In 2023, he set an ambitious target: to climb to third place in the EV market by mid-2024—and to be “within sight of Wang Chuanfu,” invoking BYD’s CEO as the benchmark.
But Chery closed 2024 shy of that goal, with under 600,000 EVs sold—enough for fourth place behind BYD, Geely, and Chang’an Automobile, despite a 232.7% year-on-year increase.
Now, the strategy is clear: flood the market with new models in the hopes of catching fire. The QQ Duomi is one of many small bets in this broader volume game. There’s no official sales target for the car, just the expectation that it will help nudge the company’s numbers upward.
All of this feeds into another priority—Chery’s long-anticipated IPO. With plans to go public in the second half of the year, the company is working against the clock to improve its sales ratio and present a stronger case to investors.
Until then, Chery is doubling down on rapid-fire product releases and plans to roll out more advanced driver assistance features across its lineup. It’s a volume-first approach, underpinned by a sense of urgency.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3232872085569158">article</a> was written by Fan Shuqi for 36Kr.

EVs under iCar revert to Chery label in brand rethink

Chery