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… href="https://36kr.com/p/3230135793106055">article</a> was written by Li Anqi for 36Kr.

Li Auto overhauls sales division to chase higher delivery numbers

East Asia

China

Transportation

Electric Vehicles

Mobility

… published by 36Kr. This <a href="https://36kr.com/p/3220102883806344">article</a> was written by 36Kr Caijing.

Small-town travelers are powering China’s next travel boom

Travel

Malaysia's big state-linked funds will increase their investments in local startups and venture capital companies to promote the government's goal of building a resilient domestic economy in the face of external headwinds, according to a government minister.
Second finance minister Amir Hamzah Azizan told Nikkei Asia in an interview that pension fund Employees Provident Fund, state sovereign wealth fund <a title="" href="https://asia.nikkei.com/Business/Finance/Malaysia-state-fund-Khazanah-to-widen-portfolio-as-profit-drops-13" target="_blank" rel="noopener">Khazanah Nasional Berhad</a>, and investment management company Permodalan Nasional Berhad will commit an additional MYR 120 billion (USD 27 billion) to private companies, including startups, over the next five years.
"We're encouraging institutional funds to reinvest in Malaysia, not in traditional areas like fixed income or [publicly traded] equities, but in private markets," he said, adding that the government aims to channel this capital into high-growth sectors, such as technology and infrastructure.
The three institutions together manage assets totaling around MYR 1.7 trillion (USD 382.5 billion). The MYR 120 billion in new commitments would add to their usual domestic allocations of MYR 440 billion (USD 99 billion) annually. The move is part of a broader strategy to reduce Malaysia's reliance on foreign direct investment (FDI) and to strengthen its economic resilience as geopolitical risks loom, the minister said.
"This reduces Malaysia's risk exposure because we no longer rely solely on FDI exposures. Instead, we're building a more resilient and diversified economy by leveraging both domestic and foreign investments," Hamzah said.
Malaysia secured a record MYR 378.5 billion (USD 85.2 billion)) in approved FDI last year, an increase of 14.9% versus 2023. "The investments coming in are translating into real economic activity," the minister stressed. However, the outlook for FDI is murky for the Southeast Asian manufacturing hub, especially as US President Donald Trump's protectionist trade policies threaten global economic growth.
Hamzah added that state investors' increased commitments to domestic businesses will help expand Malaysia's financial markets and make its capital markets "more vibrant," adding to the country's growth momentum.
Malaysia's economy <a title="" href="https://asia.nikkei.com/Economy/Malaysian-GDP-growth-meets-target-expands-5.1-in-2024" target="_blank" rel="noopener">grew 5.1% in 2024</a>, up from 3.6% the previous year, thanks to robust household spending. The local stock market has boomed, with <a title="" href="https://asia.nikkei.com/Business/Markets/Trading-Asia/Malaysia-expects-its-remarkable-IPO-boom-to-continue-in-2025" target="_blank" rel="noopener">more companies going public</a> last year.
"The energy level in the country has surged," the minister said. "People are spending, investing, and businesses are expanding. This is how we know we're on the right track."
Through domestic investments from state funds, Hamzah said the government is looking to diversify Malaysia's economic drivers, expanding the <a title="" href="https://asia.nikkei.com/Business/Tech/Semiconductors/Malaysia-moves-up-value-chain-with-first-semiconductor-park" target="_blank" rel="noopener">semiconductor</a>, artificial intelligence, and data center industries, while continuing to develop traditional sectors such as tourism.
He said that even against a backdrop of economic uncertainty, Malaysia continues to benefit from supply chain shifts in industries like semiconductors. "Malaysia has always been an open trading economy, and this reflects the strengths of Malaysia's ecosystem. As global supply chains realign, it's only natural for Malaysia to become a preferred destination," Hamzah said.
He also said that by inviting businesses that bring added value to the country and expanding their capacities, Malaysia is building a more resilient economic framework. "This resilience will be what carries us through uncertainties and challenges."
This article first appeared on <a href="https://asia.nikkei.com/Business/Startups/Malaysia-s-state-funds-to-boost-investment-in-local-startups2">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 state funds to boost investment in local startups

Venture Capital

Investment

Malaysia

Southeast Asia

… sharper environmental awareness, and faster reaction times. But overmarketing these features—or rushing to outdo competitors—can backfire. When expectations outpace performance, safety risks and product quality issues aren’t far behind.
Automakers have a responsibility to clearly communicate what their systems can—and cannot—do. Being called an “industry leader” or having a “tier-one stack” doesn’t change the fundamentals if the tech can’t hold up in real-world conditions.
For Xiaomi and others, a surge in orders may reflect consumer trust. But in an industry under the spotlight, public attention cuts both ways. Staying grounded, setting realistic expectations, and pacing product development accordingly may be the only way forward in a market where buzz alone won’t keep you ahead.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3231280661314948">article</a> was written by Xu Caiyu for 36Kr.

Three dead in SU7 crash: Fatal accident renews scrutiny of smart driving safety

Autonomous Vehicles

… href="https://36kr.com/p/3224908715539591">36Kr</a></li>
<li aria-level="1">RoboCT, which focuses on exoskeleton robotics and brain-computer interface (BCI) products, has completed a near RMB 100 million (USD 14 million) Series B funding round. The round was led by Wuxi Capital Group, with Haoyue Capital acting as financial advisor. RoboCT will channel the proceeds into R&amp;D for exoskeletons and BCI products, facility expansion, and global market development, with a focus on rehabilitation, elder care, and consumer applications. —<a href="https://36kr.com/p/3222526561422466">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Volve Creative, RockFlow, Agibot, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://volve.tokyo/">Volve Creative</a>, a Tokyo-based entertainment tech startup, raised an undisclosed amount of pre-seed funding in a round that drew backing from Asu Capital Partners, MIXI, and Ken Soga.</li>
<li aria-level="1">RockFlow, a startup based in Singapore, raised USD 10 million in a Series A1 funding round. The funding came from a mix of new and existing investors, whose names remain undisclosed.</li>
<li aria-level="1">Agibot, a Shanghai-based robotics startup, reportedly raised a nine-figure RMB sum in a Series B funding round led by Chinese tech giant Tencent. The round also drew participation from Lanchi Ventures (formerly the China arm of BlueRun Ventures), Longcheer Technology, Wolong, and Zhuhai Huafa Group.</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: Nul debuts with Wavemaker Impact backing, SkyeChip and Betterteem raise funding, Qualcomm snaps up VinAI’s generative AI unit, and more

Private Equity

Merger &amp; Acquisition

Singapore

Philippines

Japan

India

<a href="/company/alibaba">Alibaba</a> is reabsorbing a familiar name into its ranks: Chen Hang, better known in tech circles as Wuzhao. The e-commerce giant plans to buy back investor shares in HHO, the startup Chen founded in 2021, and reappoint him as CEO of DingTalk—Alibaba’s enterprise collaboration platform. Once the deal closes, current CEO Ye Jun will step aside and take on a broader role within the company.
For those who’ve followed Alibaba’s internal shuffles over the years, Chen’s return feels like a full-circle moment. He was the one who originally created DingTalk from scratch, growing it into one of China’s most widely used workplace apps. Before exiting Alibaba in 2021, he had served as CEO of DingTalk and held a senior post in its B2B operations.
Today, DingTalk claims more than 700 million users across China. It works with over 5,600 ecosystem partners, cutting across 20 sectors of the national economy and operating in 135 cities. Its suite of artificial intelligence tools, Alibaba says, sees over ten million uses per day.
When reached for comment, Alibaba confirmed the news to 36Kr.
<h3>From intern to founder, and back again</h3>
Chen’s history with Alibaba dates back to 1999, when he interned at the company. But instead of joining its founding team, he took a detour—spending 11 years working in Japan. Despite the distance, he stayed close to key figures like Jack Ma and Eddie Wu. In fact, it was Wu who eventually convinced him to return in 2010 to help shape Taobao’s product strategy.
Chen’s early efforts included stints on eTao and Laiwang, both of which didn’t pan out. But in 2015, he assembled a new team and took another swing—this time with DingTalk. That bet paid off, turning the platform into a core part of Alibaba’s B2B stack.
By 2019, DingTalk was rolled into Alibaba’s cloud intelligence unit in a company-wide reorganization led by then CEO Daniel Zhang. Chen was reassigned to a group-level post under Zhang Jianfeng. A year later, in 2020, Alibaba went a step further—integrating DingTalk more deeply with its cloud services, a move aimed at capturing more enterprise clients. Chen stepped down as CEO to become special assistant to Daniel Zhang.
The integration was logical on paper. But DingTalk’s goal—user growth—didn’t always align with Alibaba Cloud’s mandate to boost revenue. Tensions between scale and profit started to show.
Then, in 2021, Chen left. Along with a handful of DingTalk veterans, he launched HHO, a startup geared toward global expansion and consumer-facing products. Its portfolio was eclectic: wireless earbuds, pet supplies, and exploratory efforts in Japan. Its investors included Vision Plus Capital.
But the integration of DingTalk into Alibaba Cloud didn’t last. By August 2023, DingTalk was spun out again. A few months later, in November, Alibaba pulled the plug on Alibaba Cloud’s IPO altogether.
Those decisions foreshadowed deeper changes inside the company. After Daniel Zhang stepped down, Wu stepped in and wasted no time redrawing priorities. He ditched legacy plans—like taking Alibaba Cloud public—and began pushing for younger leadership and a renewed emphasis on product.
AI became a central focus. On March 13, Alibaba rolled out a new version of its Quark app, a consumer tool that blends AI-assisted research, search, and task execution into one interface. It made waves both in tech circles and among everyday users. The update signaled Alibaba’s intention to go beyond backend infrastructure and put AI into the hands of consumers.
Quark’s redesign is being led by Wu Jia, a rising product lead within the company.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3230074062060931">article</a> was written by Deng Yongyi for 36Kr.

Alibaba brings back DingTalk founder Chen Hang to lead platform’s next chapter

Alibaba Cloud

Enterprise Services

Artificial Intelligence

Deep Tech

Cloud Solutions

The Roomba reigned as a pioneer in robot vacuums, but the US leader in the sector is facing a major challenge from Chinese rivals with advanced features.
Beijing-based manufacturer Roborock has developed a vacuum that comes equipped with an arm that can pick up objects that weigh up to 300 grams.
The robot, unveiled in January at the CES electronics trade show in Las Vegas, uses artificial intelligence to detect fallen objects, such toys or loose socks, then uses the arm to place the article in the appropriate receptacle.
The Roborock machine is programmed to recognize 108 types of objects while users can add up to 50 more customizable objects with an app. The product is set for worldwide release this year.
Such innovations have taken a toll on the Roomba. Global market share for the brand fell to 22% last year from 35% in 2015, according to Euromonitor.
In a quarterly report released on March 12, Roomba maker iRobot warned of "substantial doubt" about the company's ability to survive for the next 12 months.
Chinese players are also on the offensive in Japan, where Roomba has a 70% market share. Ecovacs Robotics is selling a product equipped with a mopping function and automatic dust collector for JPY 43,780 (USD 295).
A Roomba with similar functions sells for JPY 59,200 (USD 398.9). Pressured by the price competition, iRobot's sales in Japan fell 34% in the fourth quarter in 2024 compared with a year earlier.
iRobot sells the Roomba in Japan under a "designated price system" that does not allow retailers to offer discounts. The idea was to maintain brand value and secure profit, but the strategy has backfired.
"If there are no differences in capabilities, then it's difficult to display products at a designated price," said an employee at a home electronics retailer.
There have been moves to replace Roombas with Chinese-made alternatives on store shelves. Chinese manufacturers in turn are launching new products in Japan, seizing an opportunity to capture market share.
Xiaomi, the smartphone maker, will sell robot vacuums at Xiaomi stores opening in Japan this year.
China's Dreame Technology released a product equipped with foldable legs in the Japanese market in March. When the robot approaches an obstacle, it can extend its legs up to six centimeters to bypass the object.
This enables Dreame's robots to clean multiple rooms in one round. The company plans to tap demand among smaller homes.
whereRelatedArticle
Dreame's model sells for JPY 229,800 (USD 1,548.4), which is more expensive than a top-of-the-line Roomba at JPY 197,800 (USD 1,332.8), but "we'll spread the evolution of robot vacuum cleaners among Japanese consumers," said Akiyoshi Hamada, sales director at Dreame's Japanese subsidiary.
iRobot, which was founded by three members of the Massachusetts Institute of Technology's Artificial Intelligence Laboratory, developed the Roomba using tech inspired by mine-clearing robots.
The devices added features, such as a wet-wipe function and the ability to map out the layout of a room. But iRobot has fallen behind Chinese competitors when it comes to new innovation.
This article first appeared on <a href="https://asia.nikkei.com/Business/China-tech/Chinese-robot-vacuums-leave-Roomba-in-the-dust-with-arms-and-legs">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 robot vacuums leave Roomba in the dust with arms and legs

… malls and flagship stores to reinforce its premium positioning.
Amer Sports has stated that as Chinese consumers become more receptive to emerging performance sneaker brands, Salomon is well-positioned for accelerated growth. The company expects Salomon’s sales to maintain double-digit growth annually.
However, competition is heating up. Brands like On and Hoka, which also target the middle-class consumer segment, are expanding aggressively in China. They share overlapping customer bases and retail channels with Salomon, making the landscape increasingly competitive.
In terms of brand recognition, Salomon still has some ground to cover before catching up to Arc’teryx. But it has time to close the gap.
One clear sign of its growing influence? After the holiday season, Zhang noticed more of her colleagues sporting Salomon sneakers.
“I just hope it doesn’t make the raffles even harder,” she said.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3205758038974979">article</a> was written by Li Xiaoxia for 36Kr.

How Salomon won over China’s middle-class fashion scene

Fashion

Creative

Retail

Consumer Services

… recent years.
Since the autumn of 2024, China has pursued what appears to be an ambitious target of reversing the real estate market's downturn and stabilizing it. To that end, China should have presented a radical plan to resolve the property crisis at this year's NPC.
Without such a plan, the negative effects of the property crisis on the overall economy will only drag on, not for one to two years but for five years and possibly even longer. In a worst-case scenario, China will face the same fate as post-bubble Japan. In fact, China is already teetering on the brink of a deep deflation.
In the reading of the government work report on March 5, premier Li acknowledged that there are deep economic woes, including sluggish consumption, struggling companies, and financially strapped local governments, as well as the property market slump.
He also unveiled some aggressive measures that have not been seen for many years, such as raising the budget deficit to around 4% of GDP this year from last year's target of 3% and boosting spending significantly.
But Li missed a great opportunity to explain and emphasize those measures to domestic and foreign journalists and convey, to people both at home and abroad, the sense of crisis he has over the ailing economy.
This article first appeared on <a href="https://asia.nikkei.com/Editor-s-Picks/China-up-close/Analysis-Will-China-face-same-fate-as-post-bubble-Japan">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>.

Analysis: Will China face same fate as post-bubble Japan?

Hong Kong