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… networking market.
BofA's Zhao expects exports by China's cooling equipment makers to grow, too. In Southeast Asia, where <a title="" href="https://asia.nikkei.com/business/technology/tech-asia/malaysia-s-data-center-boom-an-inside-look-at-asia-s-battle-for-ai-supremacy" target="_blank" rel="noopener">a flurry of data center construction</a> is fueling demand for cooling systems, the supply of key components such as cooling distribution units and unitized quick disconnects remain dominated by non-Chinese brands, but Chinese suppliers play a major role in providing secondary side piping and manifolds.
"As Chinese internet companies are increasingly building AI data centers in Southeast Asia due to restrictions on advanced chip imports and lower electricity costs compared with China's top-tier cities, Chinese cooling equipment makers are expected to have more export opportunities with better pricing and relationships with Chinese internet firms," she said.
This article first appeared on <a href="https://asia.nikkei.com/business/technology/tech-asia/chinese-suppliers-set-to-gain-from-global-ai-boom-despite-trade-tensions">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 suppliers set to gain from global AI boom despite trade tensions

Artificial Intelligence

Deep Tech

AI Infrastructure

China

… credentials, Vast quickly reached a USD 200 million valuation. Today, it is widely regarded as one of the leading startups applying AI to 3D modeling.
Even so, some investors are beginning to pull back. “Some projects are being valued on par with major model developers, without real products or data,” one investor told 36Kr, adding that this “runs counter to basic market logic.” He compared the current moment to 2024, when investors rushed to back former ByteDance employees, only for many projects to underperform a year later.
Building a company, after all, rarely hinges on a single factor. In a recent podcast hosted by Luo Yonghao, Yan reflected on MiniMax’s trajectory, pointing to early tradeoffs, a clear view of scaling laws, and an organizational model that rejected traditional performance evaluation systems.
As one AI practitioner who listened to the podcast put it:
<blockquote>“You can copy someone’s resume, but you can’t copy Yan Junjie.”</blockquote>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3609258452141057">article</a> was written by Zhou Xinyu for 36Kr.

After DJI, SenseTime alumni emerge as a new draw for investors

SenseTime

East Asia

China's <a href="/company/huawei">Huawei Technologies</a> has raised the ratio of domestic components in its new smartphones to nearly 60% by value, a new teardown shows, as the country continues to make strides in the production of central processing units and memory chips in the face of US export restrictions.
With the help of Japanese teardown specialist Fomalhaut Techno Solutions, Nikkei disassembled two Huawei high-end models, the Mate 70 Pro, released in 2024, and the Pura 80 Pro, released in 2025, and analyzed their component costs.
The procurement ratio by country or region was calculated based on the estimated total cost of the components, and the results were compared to models in previous years.
Huawei increased the proportion of Chinese-made components in the Mate 70 Pro to 57%. The estimated total component cost of the Pura 80 Pro is USD 380, with the Chinese-made component ratio steady at 57%.
For similarly priced Huawei smartphones released in 2020, the domestic component ratio was 19%, growing to 32% in 2023. The proportion of components from Japan, the US, and South Korea decreased by more than 20 combined percentage points from 2023 to 2024.
The starting point for the expansion of domestic parts procurement was US export restrictions. In 2019, President Donald Trump's first administration effectively prohibited US companies involved in electronic components and software from doing business with Huawei, a move that was extended to companies outside the US in 2020.
Suddenly facing difficulties procuring parts, Huawei rapidly built a domestic supply chain. For the Pura 80 Pro's system-on-a-chip, which integrates multiple semiconductors, the company used the Kirin 9020 chipset designed by subsidiary HiSilicon.
The Kirin 9020 is believed to have a seven-nanometer circuit width, the same level as Apple's iPhone 11, which was released in 2019. The narrower the circuits, the greater the performance.
"There's still a gap of more than five years," said Akira Minamikawa, senior consulting director at research firm Omdia.
Satoru Oyama, head of Japanese semiconductor consulting company Grossberg, said that "Chinese companies have design capabilities, but they face challenges in mass production."
The teardown showed in particular how much progress China has made in the domestic production of expensive components like semiconductor memory.
For DRAM, which handles short-term memory, Huawei switched from imported products to those made by ChangXin Memory Technologies. For long-term NAND flash memory, it switched to products made by Yangtze Memory Technologies.
Huawei switched to products from BOE Technology Group for the organic light-emitting diode display, which is estimated to cost over USD 64 per unit. "Key components are almost entirely Chinese produced, bringing the company close to complete homegrown production," said Minatake Kashio, CEO of Fomalhaut.
<a href="/company/alibaba">Alibaba Group</a>, a major driver of China's technology development, is embarking on the in-house design of <a href="/industry/ai">artificial intelligence</a> chips that can serve as the brains of robots and vehicles with autonomous driving capabilities. Startup chipmakers like Moore Threads, founded by former <a href="/company/nvidia">Nvidia</a> executives, and MetaX have had success raising funds by going public.
In chipmaking equipment, startups like SiCarrier are increasing their presence by covering the entire frontend process of forming circuits on chips. Naura Technology Group, which is expanding its business with a wide range of products, has a market capitalization exceeding that of Japan's Disco.
Looking to foster talent in advanced technology fields, the Chinese government is attracting Chinese and foreign researchers with experience in other countries to leading domestic universities through research funding.
China's semiconductor self-sufficiency rate reached 23.3% in 2023, up 8.4 percentage points in ten years, according to Canadian research firm TechInsights. "Components like semiconductors can also be used for military purposes," Omdia's Minamikawa said.
This article first appeared on <a href="https://asia.nikkei.com/business/china-tech/huawei-boosts-ratio-of-chinese-parts-in-new-smartphones-to-60">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>.

Huawei boosts ratio of Chinese parts in new smartphones to 60%

Smartphones

Consumer Economy

… Kong.
Mainland internet companies are now challenging those dynamics through digital supply chains.
On JD.com’s Hong Kong app, the Kai Bo flagship store offers free next-day delivery for orders above RMB 299 (USD 41.9). During last year’s 618 shopping festival, JD.com’s Hong Kong and Macau sales rose about 300%. Meanwhile, Meituan’s food delivery arm, Keeta, captured 44% of Hong Kong’s order volume within a year of launch.
In October 2025, a JD.com subsidiary also obtained an insurance brokerage license in Hong Kong, marking another step by mainland technology firms into the city’s financial sector.
According to HSBC, Hong Kong is on track to become the world’s largest cross-border wealth management hub by 2028. Mainland e-commerce platforms with insurance licenses can now extend services across merchandise transactions, logistics coverage, and risk management.
Mainland activity is also reshaping Hong Kong’s capital markets. Data from Deloitte China show that as of November 2025, mainland firms, including those with dual listings, accounted for 86% of the HKD 259.9 billion (USD 33.3 billion) raised through IPOs on the Hong Kong Stock Exchange (HKEX).
Deloitte estimates that 114 new listings in 2025 raised around HKD 286.3 billion (USD 36.7 billion). Among the world’s top ten IPOs by proceeds that year, four were listed in Hong Kong, all from mainland companies: Contemporary Amperex Technology, Zijin Gold International, Sany Heavy Industry, and Seres.
Companies listed both on the mainland and in Hong Kong accounted for roughly half of HKEX’s total IPO fundraising that year, making mainland firms the dominant presence on the exchange.
From Hong Kong’s perspective, this influx is nudging the city’s evolution from a capital hub toward a broader industrial ecosystem. Mainland investment brings not only capital, but also technology, new business models, and employment, potentially lifting Hong Kong’s position in the global supply chain.
Still, challenges remain. A September 2025 survey by Airwallex found that local firms continue to face pressure from rising operating costs and currency fluctuations, which are squeezing margins.
Balancing short-term costs with long-term returns will be the central test for mainland enterprises embedding themselves more deeply in Hong Kong’s economy.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3612277974778882">article</a> was written by Wang Hanyu for 36Kr.

JD.com buys into CCB Tower as mainland capital reshapes Hong Kong’s skyline

JD.com

Hong Kong

Chinese automaker Chery will open its largest factory in Southeast Asia in Vietnam this year, with a total investment of up to USD 800 million at full capacity of 200,000 cars annually.
The company aims to become the third biggest car brand in Vietnam over the next five years, betting on its European bestsellers in one of Southeast Asia's fastest-growing <a href="/industry/ev">electric vehicle</a> markets, its executives told Nikkei Asia.
Chery's overseas brand Omoda and Jaecoo will launch 16 new models in Vietnam this year, ranging from vehicles running solely on gasoline to hybrid cars and EVs, targeting a minimum of 10,000 units sold. The aim is to increase sales over the years as Chery starts production at a local factory in <a title="" href="https://asia.nikkei.com/business/business-trends/eu-factory-park-giant-places-1bn-vietnam-bet-amid-tariff-wars" target="_blank" rel="noopener">northern Hung Yen province</a>, an emerging hotspot for foreign direct investment, from mid-2026.
"Our Vietnam investment and production capacity are the biggest among ASEAN countries. We are building a completely new factory here," said Simon Liu, general director of Chery's operations in Vietnam for the Omoda and Jaecoo models.
"When we come to Vietnam, we have so many options. We decided to take Omoda and Jaecoo here because we have more confidence in the quality, design, and technology of this brand," Liu said in an interview with Nikkei Asia. "It is booming in European markets."
Currently, Chery imports all its cars for the Vietnamese market. It has factories in Thailand, Malaysia, and Indonesia, all of which drive on the left side of the road. The vehicles produced in Vietnam will be sold domestically and in other nations that drive on the right in Southeast Asia, and potentially in Europe.
"I want to sell all of the cars locally, but it depends on the Vietnamese economic development," Liu added.
The factory will start with a production of 30,000–60,000 cars annually next year and could scale up to 200,000 vehicles by 2030, depending on demand.
The Vietnamese car market has been heating up over the past few years, primarily driven by a push toward EVs from local producer VinFast and strong economic growth in the nation of 100 million people. Omoda and Jaecoo entered Vietnam in 2024, while other Chinese brands <a href="/company/byd">BYD</a> and <a href="/company/geely">Geely</a> are also present.
Geely plans to build a factory in Vietnam, but it is unclear whether the plant will proceed, given the company's global policy of pausing factory investments. BYD also paused its factory plan in Vietnam, according to media reports.
Liu said Omoda and Jaecoo's advantage lies in its long range, which can reach up to 1,500 kilometers, its safety standards, and its extensive one-million-kilometer guarantee. He also emphasized the building of trust among domestic consumers.
"When I come here, I know Chinese brands are not trusted too much by customers or the media," Liu said. "So, we must keep our promises."
Currently, Omoda and Jaecoo's two models are offered at VND 729–879 million (USD 27,700–33,400). Toyota cars have a wider price range, offered between VND 405 million (USD 15,389) and VND 4.6 billion (USD 174,787). Similarly, VinFast passenger cars are listed between VND 302 million (USD 11,475) and VND 1.7 billion (USD 64,595).
Chery has a clear corporate vision for Vietnam: to become the top Chinese car brand by 2026 and the third bestselling brand overall by 2030. Currently, <a href="/business/automobiles/electric-vehicles/vinfast-leads-ev-brands-in-asean-as-gas-powered-car-sales-stutter" target="_blank" rel="noopener">Vietnamese EV maker VinFast</a> is the market leader with Japan's global carmaking giant Toyota in second.
VinFast sold nearly 150,000 EVs in Vietnam in the first 11 months of 2025, and Toyota sold around 65,000 gasoline-powered and hybrid cars during the same period.
The top two sellers dwarf the 10,000-unit target set by Omoda and Jaecoo, but Chery said it is laying the foundation for future growth.
Its dealership network will nearly double this year to 75, from 40 in 2025, said Nguyen Dang Quang, deputy general director of sales at Omoda and Jaecoo Vietnam, in the same interview.
The Chinese company will also develop charging stations across the country, piggybacking on its Vietnamese partner Geleximco's ecosystem at bank branches, residential and office buildings, hotels and golf courses, Quang said.
Geleximco operates in the industrial production, real estate, banking and hospitality fields. Its founder, Vu Van Tien, entered a joint venture with Honda to produce motorcycle parts in 1996.
Separately, Omoda and Jaecoo Vietnam also seek partnerships with charge point operators and cooperation with other automakers to share the charging station infrastructure.
"We have an open mindset. Our charging stations are not limited to only Omoda and Jaecoo cars. They are for the society," said Quang, who worked at VinFast for six years before moving to Chery. Previously, he worked at Jaguar Land Rover, Mercedes-Benz and Truong Hai Auto, the dealership for Mazda and Kia cars.
Saying that competitors are "our friends," Quang added, "We have to say thanks to VinFast because they are the first ones who educate customers how to use an EV."
VinFast has the most extensive charging network in Vietnam, exclusive to its own brands. It is unclear whether BYD and Geely are sharing their charging facilities with others.
While China's investments in Vietnam have been rising strongly over the past few years, the Southeast Asian nation has become increasingly selective in granting investment approvals, favoring projects that hire more domestic workers or help develop the local supply chain.
Liu said he expects the Vietnamese factory to improve the local supply chain's capability over time.
"The supply chain depends on OEMs," he said, referring to original equipment manufacturers. "We must build the factory there first. The supply chain will be manufactured locally, reducing our costs and increasing the cooperation with the local supply chain."
This article first appeared on <a href="https://asia.nikkei.com/business/automobiles/china-s-chery-to-open-its-largest-asean-auto-factory-in-vietnam-in-mid-2026">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

China's Chery to open its largest ASEAN car factory in Vietnam in mid-2026

Chery

Transportation

Electric Vehicles

Mobility

Vietnam

Southeast Asia

… manufacturing facilities.
<figure id="attachment_159243" aria-describedby="caption-attachment-159243" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-159243" src="https://console.kr-asia.com/wp-content/uploads/2026/01/PaXini-Tora-One-Pallet-Jack.jpg" alt="Photo of PaXini’s TORA-ONE robots operating pallet jacks." width="1920" height="1280" srcset="https://console.kr-asia.com/wp-content/uploads/2026/01/PaXini-Tora-One-Pallet-Jack.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2026/01/PaXini-Tora-One-Pallet-Jack-720x480.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2026/01/PaXini-Tora-One-Pallet-Jack-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2026/01/PaXini-Tora-One-Pallet-Jack-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2026/01/PaXini-Tora-One-Pallet-Jack-1536x1024.jpg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-159243" class="wp-caption-text">PaXini’s TORA-ONE robots operating pallet jacks. Photo source: PaXini.</figcaption></figure>
<h3>Exporting to the world</h3>
PaXini’s presence at CES also highlights its international ambitions. “By tapping world-leading infrastructure and capabilities in embodied intelligence, our strategy is to embed ourselves deeply into global industrial systems,” Hsu said.
The company’s priority markets are the US, Japan, and South Korea, chosen for both scale and structural fit. PaXini sees opportunities in the US, where manufacturing depth and hardware supply chains have thinned, and in Japan and South Korea, where aging populations and slower innovation cycles contrast with strong industrial foundations. The company plans to lead with hardware, embedding its sensors and critical components into customers’ systems, before expanding into data services and model deployment to support automation upgrades.
Looking ahead, Hsu expects that within two to three years, a meaningful number of robots will be operating in real production environments.
As robots move beyond exhibition floors and demonstrations to become reliable sources of productivity in factories and warehouses, the “physical contact modality infrastructure” PaXini is investing in may begin to reveal its true value in reshaping the physical world.
This article was published in partnership with <a href="https://paxini.com/">PaXini</a>.

At CES 2026, PaXini lays out a “full-stack” roadmap for embodied intelligence

Robotics

Embodied Intelligence

… production vehicles via ADS 4.0 updates. If a driver becomes unresponsive, the vehicle can slow, move to the emergency lane, and activate hazard lights.
In this way, Level 3 development has begun to influence broader assisted driving safety standards, even before large-scale commercialization.
<h3>Where assisted driving is heading</h3>
Policy signals suggest expansion will be gradual rather than rapid. MIIT’s latest roadmap for smart and connected vehicles and industry research from Deloitte both forecast growth in China’s Level 3 market, from an estimated RMB 150 billion (USD 21 billion) in 2025 to RMB 800 billion (USD 112 billion) by 2030, implying a compound annual growth rate of 38.7%.
Adoption, however, will depend less on headline capability than on sustained reliability. Trust between users and automated systems is built incrementally, through consistent performance rather than isolated milestones.
HIMA’s approach reflects that assumption. By prioritizing system engineering, data depth, and ecosystem integration, it is treating Level 3 less as a feature upgrade and more as a structural transition.
By late 2025, competition in assisted driving is increasingly defined by execution rather than demonstrations. Level 3 marks the beginning of a phase in which differentiation hinges on reliability, accountability, and integration.
HIMA’s early move into regulated Level 3 testing does not settle the industry’s debates, but it does clarify one thing. As Level 2 systems reach diminishing returns, the path forward depends on whether companies can deliver not just autonomy, but confidence.
The central question remains unresolved but sharply framed: what degree of reliability is required before drivers are willing to relinquish control at highway speeds? HIMA’s answer is to accumulate evidence, one kilometer at a time.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3611818215228420">article</a> was written by 36Kr Brand.

HIMA’s Level 3 autonomous vehicles hit the roads as China authorizes real-world testing

Autonomous Vehicles

… aria-describedby="caption-attachment-159183" style="width: 720px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-159183" src="https://console.kr-asia.com/wp-content/uploads/2026/01/iQOO-15-Selfie.jpg" alt="A group selfie taken with the iQOO 15 smartphone, according to the brand." width="720" height="540" srcset="https://console.kr-asia.com/wp-content/uploads/2026/01/iQOO-15-Selfie.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2026/01/iQOO-15-Selfie-720x540.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2026/01/iQOO-15-Selfie-1024x768.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2026/01/iQOO-15-Selfie-768x576.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2026/01/iQOO-15-Selfie-1536x1152.jpg 1536w" sizes="(max-width: 720px) 100vw, 720px" /><figcaption id="caption-attachment-159183" class="wp-caption-text">Aimed at broader appeal, the iQOO 15 combines high-end display specifications with a versatile camera system, including a 32-megapixel front camera and three 50-megapixel rear cameras supporting standard, periscope, and wide-angle shots. Photo source: iQOO.</figcaption></figure>
Despite its wider focus, gaming remains central to the device’s design. The iQOO 15 includes a dual-axis vibration motor that enables what the company describes as “true 4D vibration,” intended at delivering more immersive tactile feedback during gameplay.
Touch responsiveness has also been improved through chip- and algorithm-level optimization, enabling a 3,200 Hz touch sampling rate alongside a stable 360 Hz ten-finger touch rate. These changes are aimed at genres such as shooters, where consistent and rapid input response is critical.
Overall, the iQOO 15 is positioned for mobile gamers seeking high-end performance without compromising comfort during extended sessions. It also targets heavy video consumers drawn to high brightness, rich color reproduction, and Dolby Vision-certified playback, as well as users who are sensitive to eye strain and prioritize display quality for daily use.
This article was published in partnership with <a href="https://www.iqoo.com/">iQOO</a>.

iQOO 15 highlights display innovation with Samsung’s polarization-free OLED

… Other Asian nations such as Thailand, Vietnam, Indonesia, and India, with larger land availability, lower costs and bigger populations, are positioning themselves to appeal to the same pool of investors.
Some of the buildup in Johor, he said, “is not based on strong fundamentals of local demand so ... there is a fear of oversupply.” Eventually, he believes, capacity will be distributed based on market demand.
“I don’t think there will be a single country to become an AI hub. I think everybody is just chasing which locations have the proper infrastructure to handle AI specification [computing],” Iskandar said.
Castrol’s Huang said other contenders are emerging, such as Australia, which carries less geopolitical risk and does not have to deal with restrictions on access to advanced AI chips, while also benefiting from solid demand from sectors like corporate IT and mining.
Others take a different view. “We are still in an undersupply situation," Robert Cheng, head of Asia tech hardware research with BofA Global Research, told Nikkei Asia. “Every sentence, every video AI produces relies on computing power, and there is room for AI to improve. … The demand is huge.”
For Yong, the construction management consultant and longtime Johor resident, Malaysia’s AI data center boom is a chance for the nation to elevate both its economy and its global stature.
“There are certainly challenges, such as a shortage of construction workers … but this is a once-in-a-lifetime opportunity we have to seize,” Yong said.
This article first appeared on <a href="https://asia.nikkei.com/business/technology/tech-asia/malaysia-s-data-center-boom-an-inside-look-at-asia-s-battle-for-ai-supremacy">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>.

Malaysia's data center boom: An inside look at Asia's battle for AI supremacy

Malaysia