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… that may be worn for as long as ten hours a day, charging anxiety is a thing of the past. The AI glasses feature four small magnetic charging points on the arms, so you can simply snap them into place to charge.
Fully charged, these glasses are said to be able to last up to 15 days on standby, support 11 hours of video playback at 60% volume, or offer 9 hours of continuous talk time.
The Jiehuan AI glasses aren’t the first AI glasses launched domestically this year. According to 36Kr, after 1.5 million units of the Ray-Ban Meta were sold globally in the first three quarters, over 20 similar products have been launched or are being prepared by Chinese companies.
Glasses have always been an essential part of daily life. In countless sci-fi movies, they’ve carried endless possibilities. Now, with the help of AI, some of these once-fantastical ideas are gradually becoming reality.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2898545054686088">article</a> was written by Qiu Xiaofen for 36Kr.

Can Superhexa’s AI glasses triple up as headphones, translator, and virtual assistant?

Artificial Intelligence

Deep Tech

China

As aging populations burgeon, chronic diseases become more prevalent, and workforce shortages intensify, the global healthcare sector is increasingly turning to digital solutions to meet these escalating demands. In this context, the <a href="https://www.medicalfair-asia.com/gitex-digi-health-conference">GITEX Digi Health 5.0 Conference</a> is emerging as a pivotal event for industry leaders, set to take place alongside Medical Fair Asia 2024 at Marina Bay Sands, Singapore, from September 11–12, 2024.
Organized by Kaoun International, an international events company affiliated with the Dubai World Trade Centre (DWTC), GITEX Digi Health 5.0 will showcase how artificial intelligence and advanced technologies are poised to reshape the future of healthcare. The conference will bring together a diverse group of experts, including Osama Elhassan, head of e-health at Dubai Health Authority, Hanna Burkhardt, head of venture fund at UNICEF, and Lee Chien Earn, deputy group CEO at SingHealth, among others.
Throughout the conference, discussions will focus on the integration of AI, telemedicine, and emerging digital technologies within the healthcare landscape. Key topics will include AI-driven diagnostics, the role of augmented and virtual reality (AR/VR) in patient consultations, and the potential of blockchain technology to enhance patient care. These discussions are particularly timely, with Asia’s digital health market expected to generate around USD 67 billion in revenue in 2024, growing to USD 99.6 billion by 2029, according to <a href="https://www.statista.com/outlook/hmo/digital-health/asia">Statista</a> estimates.
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GITEX Digi Health 5.0 is part of a broader strategy by DWTC to expand its influence across Asia. Building on the success of GITEX Global—billed as the world’s largest tech event and held annually in Dubai—this expansion includes the launch of GITEX Asia, scheduled for April 2025 in Singapore. GITEX Asia aims to establish Singapore as a key gateway to the Asian market, connecting regional players with a global network of tech innovators, investors, and AI leaders.
Within this broader framework, GITEX Digi Health 5.0 serves as a critical platform for advancing healthcare innovation in Southeast Asia. By concentrating on the intersection of healthcare and technology, the event aligns with GITEX’s overarching mission to tackle global challenges through technological advancements.

GITEX Digi Health 5.0 to explore tech’s impact on Asia’s healthcare landscape

MedTech

Health Tech

Singapore

Southeast Asia

MENA

<h3>InfraCo Asia fuels Dat Bike's growth with USD 4 million convertible loan</h3>
Vietnam’s electric two-wheeler scene just got a significant boost. InfraCo Asia, part of the Private Infrastructure Development Group (PIDG), has handed over a USD 4 million convertible loan to <a href="https://dat.bike/en">Dat Bike</a>, Vietnam’s fastest-growing electric motorbike maker.
According to InfraCo Asia, Dat Bike is Vietnam’s only vertically integrated electric motorbike manufacturer, crafting its products from the ground up with over 90% of parts sourced locally. The company has released four models to date, sold directly to consumers and businesses alike.
With InfraCo Asia’s backing, Dat Bike is planning to double its production capacity, with the funds driving facility expansion, tool optimization, and a leap in automation. The company is also set to deliver over 30,000 bikes in the next two years, which could cut nearly 26,000 tons of carbon emissions annually.
<h3>SeaTown’s USD 1.3 billion credit fund is a vote of confidence in Asia’s direct lending</h3>
SeaTown Holdings International, the private credit arm of Singapore’s Temasek Holdings, has pulled in USD 1.3 billion for its second private credit fund, according to Bloomberg. With insurers, endowments, family offices, and a mystery Middle Eastern investor backing the effort, SeaTown’s private credit strategy is now managing more than USD 2.5 billion.
After a rocky start to the year, with global lending hitting a low, SeaTown’s milestone suggests that investors are seeing brighter days ahead. The firm has already deployed over 70% of the capital, eyeing midteen returns and double-digit yields. Asia’s growing economies, especially in places like Vietnam and India, are ripe for the picking.
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<h3>Dreame launches Empyrean Venture, its CVC arm</h3>
Dreame Technology, known for its smart cleaning gadgets, is taking a bold step into the world of artificial intelligence and robotics with the launch of Empyrean Venture, its new corporate venture capital (CVC) arm.
The new venture has already seen a strong start, having already raised capital for its debut funds. This includes a growth strategic fund, anchored by Dreame, which is quickly approaching its RMB 10 billion (USD 1.4 billion) target. Additionally, the early-to-mid-stage incubation fund recently reached its first close, with plans to hit a final close at RMB 1 billion (USD 140.4 million).
With this move, Dreame joins the ranks of Chinese giants like Huawei and Tencent, who are similarly ramping up their CVC efforts to drive innovation and bolster their ecosystems. —<a href="https://mp.weixin.qq.com/s/e2LZwNTdblV1l8hujhmZkg">36Kr</a>
<h3>Talent New Energy’s solid-state batteries draw big names in Series B round</h3>
Solid-state batteries are the next big thing, and Talent New Energy is leading the charge. The company has just secured a nine-figure RMB sum in a Series B funding round, with heavyweights like Chang’an Automobile’s Anhe Fund and China South Industries Group’s funds leading the investment.
Since its founding in 2018, Talent New Energy has been focused on pushing the boundaries of solid-state battery technology. Now, with this fresh injection of capital, the company is set to scale production and continue innovating.
Its new Chongqing facility is almost at full capacity, and with 12 gigawatt-hour of additional production on the horizon, Talent is poised to make its mark on the automotive industry, driving forward the transition to safer, more efficient batteries. —<a href="https://36kr.com/p/2913096693832329">36Kr</a>
<h3>Inflync takes flight with angel funding for eVTOL innovation</h3>
The skies above China are set to get even busier. Inflync, an innovative developer of electric vertical takeoff and landing (eVTOL) aircraft, has secured an eight-figure RMB sum in its latest angel round of financing, led by Qizhou Capital with participation from Shanghai Angel Investment.
Inflync is a standout in the eVTOL space, marking its place as the first in China—and only the second globally—to achieve transition flight with an aircraft featuring a tilt-wing ducted fan configuration.
This fresh funding will propel the company forward, fueling further testing and manufacturing as it solidifies its position at the cutting edge of urban air mobility. Inflync will channel these funds into the development of its L600 prototype, poised to be the company’s next major milestone. —<a href="https://36kr.com/newsflashes/2922788854045576">36Kr</a>
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<h3>Earth VC, Sarana AI, Shift, and more led yesterday’s headlines:</h3>
<ul>
<li aria-level="1">Earth Venture Capital (Earth VC), a climate tech venture capital firm based in Vietnam, invested in the USD 27 million Series A funding round of <a href="https://www.aalo.com/">Aalo Atomics</a>. The round was co-led by 50Y and Valor Equity Partners, with Earth VC participating alongside Harpoon Ventures, Alumni Ventures, and Preston-Werner Ventures.</li>
<li aria-level="1"><a href="https://sarana.ai/">Sarana AI</a>, a human resource tech startup based in Indonesia, raised an undisclosed amount in a pre-seed funding round led by Fortress Data Services (FDS).</li>
<li aria-level="1">Shift, an Australian provider of credit and payment solutions for businesses, secured AUD 35 million (USD 23.7 million) in a Series D funding round led by Peak XV Partners.</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: InfraCo Asia backs Vietnam’s Dat Bike, SeaTown raises USD 1.3 billion for second credit fund, Dreame launches CVC arm, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Vietnam

… https://console.kr-asia.com/wp-content/uploads/2024/08/LimX-Dynamics-CL-1-1536x1024.jpeg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/08/LimX-Dynamics-CL-1.jpeg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-149661" class="wp-caption-text">To highlight the anti-interference capabilities of the CL-1 humanoid robot, a staff member of LimX Dynamics booted the robot during the live demo. Photo source: 36Kr.</figcaption></figure>
<h3>Astribot</h3>
Astribot’s S1, its latest AI robot assistant, made its public debut just two days before the conference. The S1 wowed attendees by replicating expert skills in yangqin playing, calligraphy, and sugar painting within hours.
<figure id="attachment_149662" aria-describedby="caption-attachment-149662" style="width: 427px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="size-full wp-image-149662" src="https://console.kr-asia.com/wp-content/uploads/2024/08/Astribot-S1.gif" alt="Astribot’s S1 was seen performing calligraphy with humanlike precision at the 2024 World Robot Conference." width="427" height="240" /><figcaption id="caption-attachment-149662" class="wp-caption-text">Astribot’s S1 was seen performing calligraphy with humanlike precision at the 2024 World Robot Conference. Graphic source: 36Kr.</figcaption></figure>
The S1’s advanced AI capabilities enable it to perceive, understand, and make real-time decisions in complex environments. This, combined with its multimodal interaction abilities, makes the S1 suitable for a wide range of tasks.
Astribot achieved a breakthrough in data acquisition, enabling the S1 to gather high-quality multidimensional data from real-world video and human motion capture. This data is used for large-scale training, reducing the costs and challenges associated with training for new tasks, thereby enhancing the robot’s adaptability.
The company plans to commercialize the S1 by the end of 2024.
Meanwhile, <a href="https://kr-asia.com/tesla-showcases-second-gen-optimus-humanoid-robot-in-shanghai-eyes-2025-launch">Tesla's Optimus robot</a> was also on display, demonstrating its ability to perform repetitive tasks like battery handling in previously released factory footage. However, at the conference, Optimus remained in a glass case, with no live demonstrations.
In addition to humanoid robots, the 2024 WRC featured a wide array of robots, including delivery robots, industrial robotic arms, medical robots, home robots, and embodied intelligence solutions.
<h3>Keenon Robotics</h3>
Keenon Robotics created an immersive experience at the conference, where visitors explored how robotic solutions employing embodied intelligence can be applied to sectors like hospitality and healthcare.
The T9 robots, acting as servers, skillfully navigated the crowded venue, guiding customers, delivering meals, and clearing dishes. Meanwhile, the T10 robots served as mobile billboards, interacting with attendees throughout the event.
Keenon’s display also featured a hotel scenario, where various robots were coordinated based on client needs. The delivery robot W3, paired with the cleaning robot C30, demonstrated their ability to manage both delivery and cleaning tasks around the clock, enhancing hotel operations. Additionally, by integrating with hotel systems and external delivery platforms, the W3 robot could increase hotel revenue streams and improve the guest experience.
<h3>SenseRobot</h3>
SenseRobot, a home robot brand under SenseTime, became a hit with children at the 2024 WRC. The company showcased its latest chess robot, which features specialized AI and mechanical upgrades, including a mechanical claw for picking up chess pieces.
This new design, with four degrees of freedom in the mechanical arm, enables the robot to handle the unique shapes of chess pieces with precision, making it the first home robot to incorporate such a feature. The chess robot is expected to be released in late September.
<figure id="attachment_149672" aria-describedby="caption-attachment-149672" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-149672" src="https://console.kr-asia.com/wp-content/uploads/2024/08/SenseRobot-Demo-1024x683.jpg" alt="Photo of SenseRobot’s chess robot demo area at the 2024 World Robot Conference." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2024/08/SenseRobot-Demo-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/08/SenseRobot-Demo-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/08/SenseRobot-Demo-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/08/SenseRobot-Demo-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/08/SenseRobot-Demo.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-149672" class="wp-caption-text">Photo of SenseRobot’s chess robot demo area at the 2024 World Robot Conference. Photo source: 36Kr.</figcaption></figure>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2916001413700230">article</a> was written by Huang Nan for 36Kr.

Humanoid robots take center stage at Beijing’s 2024 World Robot Conference

Avatr Technology, a joint venture of Chang’an Automobile, has landed a 10% stake in Huawei’s subsidiary, Yinwang, by inking an equity transfer agreement on August 20. The deal, valued at RMB 11.5 billion (USD 1.6 billion), will be fully funded by Avatr and paid in three installments, each contingent on specific conditions.
Despite this transaction, Huawei remains firmly in control, holding a majority stake in Yinwang. But Avatr’s new role grants it a seat at the table, allowing it to influence critical decisions related to strategy, human resources, and investments.
Huawei has pledged to back Yinwang’s mission of creating an open platform for the electrification and intelligence of the automotive sector. Avatr’s entry is just the beginning, as Yinwang aims to attract more strategic partners.
As part of the agreement, Huawei will transfer the necessary technology, assets, and personnel to Yinwang once the first payment is made. Going forward, Huawei has committed to stepping back from any activities that would compete directly with Yinwang’s business.
A Huawei insider told 36Kr that Yinwang will operate on a two-way supply model, delivering products to both Avatr and existing Huawei partners—Aito, Stelato, Luxeed, and Maextro. As a shareholder, Avatr is positioned to benefit from the profits generated through these arrangements.
In 2023, Avatr reported revenues of RMB 5.645 billion (USD 792.9 million) but also recorded a net loss of RMB 3.693 billion (USD 518.7 million). Since its inception, the company has accumulated losses exceeding RMB 8 billion (USD 1.1 billion). The RMB 11.5 billion (USD 1.6 billion) investment in Yinwang represents a significant financial commitment for Avatr at this crucial juncture.
Once Yinwang starts its operations, sales of Huawei's four "Smart Selection" models—Aito, Stelato, Luxeed, and Maextro—are expected to generate substantial revenue through the two-way supply model. For Avatr, long under financial strain, this investment is a strategic move to alleviate monetary pressures.
However, the broader implications of this deal may signal Chang'an’s shift toward becoming a brand focused on smart, low-carbon technology.
Yinwang is far from the first collaboration between Chang'an and Huawei. The Avatr brand already leverages Huawei’s advanced smart driving system and HarmonyOS cockpit, while its Deepal brand was the first to feature Huawei’s Qiankun ADS SE in a vehicle model priced under USD 28,000.
The partnership has yielded promising results. In the first half of 2024, Avatr sold 29,000 units, reflecting a 170% year-on-year growth, while Deepal’s sales reached 83,000 units, also showing substantial gains. Yet, both brands remain unprofitable, with Chang'an relying on gasoline vehicle profits to sustain them. For Chang'an to fully realize its brand transformation, it must double down on smart technology, boost sales, and streamline operations to reach profitability.
Chang'an chairman Zhu Huarong said that supporting Avatr is intended to serve as a vivid example of an open platform that engages the entire automotive industry.
Avatr is set to be the first major initiative of the newly independent Yinwang. How this collaboration between Chang'an and Huawei will evolve into a distinct partnership, separate from Huawei’s Smart Selection series, will be closely watched.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2914052011612809">article</a> was written by Xu Caiyu for 36Kr.

Chang'an Automobile's Avatr buys into Huawei's Yinwang, gaining 10% stake

Huawei

Transportation

Electric Vehicles

Mobility

… say which one is superior on the technical front, but based on current trial results, LivePortrait, developed jointly by Kuaishou, the University of Science and Technology of China (USTC), and Fudan University, indeed offers a more user-friendly experience tailored to Chinese users.
Moreover, the generation speed is also more ideal. It takes only 5–6 minutes to create adorable cat and dog videos, which is hard to resist.
We tried “reviving” a photo of a cat we used to have, and the moment it started shaking its head again, our eyes couldn’t help but well up. Suddenly, we understood the obsession of Tu Hengyu, the character played by Andy Lau in The Wandering Earth 2, with his digital daughter.
<figure id="attachment_149623" aria-describedby="caption-attachment-149623" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-149623" src="https://console.kr-asia.com/wp-content/uploads/2024/08/The-Wandering-Earth-Tu-Hengyu-Daughter-1024x421.jpeg" alt="" width="640" height="263" srcset="https://console.kr-asia.com/wp-content/uploads/2024/08/The-Wandering-Earth-Tu-Hengyu-Daughter-1024x421.jpeg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/08/The-Wandering-Earth-Tu-Hengyu-Daughter-300x123.jpeg 300w, https://console.kr-asia.com/wp-content/uploads/2024/08/The-Wandering-Earth-Tu-Hengyu-Daughter-768x316.jpeg 768w, https://console.kr-asia.com/wp-content/uploads/2024/08/The-Wandering-Earth-Tu-Hengyu-Daughter.jpeg 1080w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-149623" class="wp-caption-text">Image source: The Wandering Earth 2.</figcaption></figure>
While it’s not the same thing, the feeling is quite similar.
Technology, of course, can have warmth. On a larger scale, as more video generation models mature, interactions that transcend time and space might soon become the norm, playing a bigger role in recording our emotions, preserving oral history, and recreating historical scenes.
Besides Kuaishou, other Chinese large models for video generation include Follow-Your-Click (a joint project between Tencent, Tsinghua University, and Hong Kong University of Science and Technology), ByteDance’s Dreamina, Zhipu AI’s Qingying, AIsphere’s PixVerse V2, and SenseTime’s Vimi, among others.
Who will become China’s Sora? The dust hasn’t settled yet. For now, each of the above products still has varying degrees of generation flaws, with some distance yet to be covered before catching up to Sora.
Meanwhile, during the Ghost Festival period, why not let the one you miss—whether it’s him, her, or it—smile at you once more, just like before?
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2912717369236360">article</a> was written by Chi Meng for 36Kr.
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After experiencing Kuaishou’s LivePortrait, we finally grasped Tu Hengyu’s feelings in The Wandering Earth 2

China Tech

Facial Recognition

Artificial intelligence

… sponsors school events, sports games, and internship programs. It also works with multiple universities to co-design curricula and equipment to precisely train the workforce the tech industry needs, according to the company.
From her desk in Ho Chi Minh City, senior engineer Guong's career path suggests efforts like these are paying off.
After considering psychology, she chose to study electronics because there was financial aid for the program. Then friends told her about a good internship with a focus on semiconductors. She went for it and before long had found a full-time position with Marvell.
Now, Guong hopes she can get other young Vietnamese to follow in her footsteps.
"If I can help train other people, build them up, then I will be happy," she said. "It's not just about making money."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Spotlight/The-Big-Story/Vietnam-turns-chip-sector-magnet-with-affordable-quality-talent-pool" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Vietnam turns chip sector magnet with affordable, quality talent pool

Semiconductors

Korea

On August 21, Xiaomi revealed its automotive business's financial performance for the first time. In the second quarter of 2024, Xiaomi reported automotive sales revenue of RMB 6.2 billion (USD 870.5 million) and a gross profit margin of 15.4%, while narrowing its net losses to RMB 1.8 billion (USD 252.7 million). By comparison, Tesla’s automotive gross margin for the same period was 13.9%. For a newcomer to the automotive industry, Xiaomi’s results have certainly turned heads.
Xiaomi’s robust gross margin can be largely credited to its expertise in supply chain management and factory operations—capabilities honed through years in the smartphone and internet-of-things sectors. Lu Weibing, president of Xiaomi, highlighted that some suppliers for the SU7 electric vehicle model offered larger-scale quotes and material supplies, driven by their confidence in Xiaomi. This support has been pivotal in achieving the high gross margins Xiaomi has reported.
In Q2 2024, Xiaomi delivered approximately 27,000 new vehicles, positioning itself to meet its annual delivery target of at least 100,000 units, with a <a href="https://kr-asia.com/xiaomi-auto-begins-double-shift-production-in-june-targets-120000-ev-deliveries">stretch goal of 120,000 units</a>. Five months after the <a href="https://kr-asia.com/chinas-xiaomi-jumps-into-ev-market-battle-with-gusto">SU7’s launch</a>, public data indicates that weekly new orders for the EV continue to range between 3,000–5,000 units. Lu expressed strong confidence in hitting this year’s delivery target, suggesting that delivering 120,000 vehicles in nine months could set a global record for the fastest single-car delivery.
To support these ambitions, Xiaomi is rapidly expanding its automotive retail network. Currently, the company operates over 100 sales stores, with plans to open 219 stores across 46 cities and establish 139 service centers in 82 cities by the end of the year. Lu added that the company will accelerate the construction of stores in northern Chinese cities.
On the international front, Lu mentioned that Xiaomi’s ongoing global promotion of its smart home products would bolster its future automotive exports. He also hinted in a previous live stream about Xiaomi’s plans to enter the European market.
According to Xiaomi’s Q2 financial report, automotive operating expenses surged to RMB 2.9 billion (USD 407.2 million), a 26% increase from the previous quarter, driven by rising R&amp;D and sales promotion costs.
Lu also disclosed that Xiaomi is working on new vehicle models, though optimizing the SU7 remains the primary focus. The development of new car projects is expected to push R&amp;D expenses higher. Public information indicates that Xiaomi has already started road testing a second model with a camouflaged test vehicle, further stoking consumer anticipation.
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However, Xiaomi appears to be trailing in key technological advancements.
In Q3 2024, Huawei launched the third iteration of its autonomous driving system, ADS 3.0, while Xpeng Motors rolled out significant upgrades to its intelligent driving systems. In this competitive landscape, features such as roundabout navigation, U-turn scenarios, and vehicle-to-vehicle urban navigation assisted driving are becoming standard. Despite Xiaomi’s promise to roll out its urban navigate-on-autopilot (NOA) system nationwide by August, the company has yet to announce any significant technical developments. The Q2 financial report only briefly touched on support for automated parking in narrow spaces.
As Xiaomi contends with a 20-week lead time for deliveries, new, lower-priced models like Xpeng’s Mona M03 and <a href="https://kr-asia.com/nio-launches-the-onvo-l60-suv-throwing-down-gauntlet-to-teslas-model-y">Onvo’s L60</a> could pose a competitive threat in the second half of the year. To sustain customer confidence, Xiaomi will need to sharpen its technological edge.
Beyond new vehicles and technology, Xiaomi is also ramping up its production capacity.
In late July, Xiaomi acquired industrial land use rights in Yizhuang, Beijing, for RMB 842 million (USD 118.2 million). This site will house Xiaomi’s phase-two factory, where construction began within 24 hours of the acquisition. According to available information, the fixed asset investment for the site will exceed RMB 2.6 billion (USD 365 million). Xiaomi’s phase-one factory took 14 months to complete.
The new factory will become the primary production hub for Xiaomi’s upcoming vehicles. Construction of the phase-two factory is progressing under a night shift system, which could accelerate the project’s timeline.
During the earnings call, Lu noted that Xiaomi’s monthly deliveries steadily increased from April to June, and this trend is expected to continue in the second half of the year. However, with SU7 orders still growing and the retail network expanding, the phase-one factory’s capacity, capped at 150,000 vehicles, may soon be stretched to its limits.
The critical challenge for Xiaomi in the coming months will be scaling up production, securing orders, and sustaining growth in both revenue and gross margins.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2915734119603081">article</a> was written by Xu Caiyu for 36Kr.

Xiaomi’s automotive business sees strong Q2 results, outpaces Tesla in gross margin

… bitter or sour for their taste.
Setting aside the subjective taste preferences, it’s clear that the collaboration with Black Myth: Wukong has been effective in attracting new customers. Shi told 36Kr that he usually doesn’t drink coffee, only occasionally, and his motivation to wake up at 6 a.m. was purely to get his hands on the limited-edition card.
A similar obsession has gripped a large number of overseas players as well. Since Game Science released the first video about the game four years ago, fans worldwide have eagerly awaited updates. Reaction videos from global gaming YouTubers have been abundant on platforms like YouTube and Bilibili, with the Destiny 2 streamer Aztecross declaring it a potential game of the year after watching the final trailer.
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According to statistics from the Diershoubing app, as of 11:28 p.m. on August 19, Black Myth: Wukong had already become the top-selling single-player game globally, excluding free games, in all major regions except Spain and Poland.
However, the biggest impact Black Myth: Wukong has had on foreign players is cultural.
Unlike Chinese players, who are familiar with the characters from Journey to the West thanks to television shows, cartoons, and the original novel, foreign players find the world of Black Myth: Wukong both strange and fascinating. Before the game’s release, discussions on the gaming subreddit were filled with players diving into the original Journey to the West novel, the 1986 TV adaptation, and even asking questions like, "What is a gourd?" Some Chinese culture enthusiasts have taken it upon themselves to explain the background and nuances to others on various forums.
Clearly, Black Myth: Wukong is not just a successful Chinese game but a triumph for Chinese culture on the global stage. Based on the trajectory of past AAA games, Black Myth: Wukong’s international influence will likely continue to grow beyond the game itself.
"The value chain of AAA games isn’t in the game itself but in the peripherals," a securities analyst, who wished to remain anonymous, told 36Kr. "Compared to many industries, the revenue from the actual game sales is a small portion of the total gross merchandise value (GMV), sometimes as low as 10%."
Whether it's Super Mario, League of Legends, or World of Warcraft, leading games have significant IP extension value, and AAA titles, in particular, may see even more pronounced effects. "Take the Final Fantasy series, for instance. Initially, players mocked the four over-the-top characters, but after the game went global in 2015, the sales of related products skyrocketed, surpassing even Square Enix’s Dragon Quest IP in GMV," the analyst added.
The hardcore and somewhat dark themes of Black Myth: Wukong might also make it easier to resonate with Western audiences. "Compared to past hits like Sword of Legends and The Legend of Sword and Fairy, Black Myth: Wukong should have an easier time gaining traction overseas," he noted.
This cultural influence abroad is something Luckin desperately needs. Despite having over 20,000 stores, Luckin has been cautious and slow in its international expansion, with the brand’s popularity still largely confined to China.
However, Luckin is accelerating its global expansion plans. According to LatePost, the company plans to embark on a major overseas expansion in the fourth quarter of 2024 to the first quarter of 2025, focusing on Southeast Asia and the US. Before this, the collaboration with Black Myth: Wukong could serve as a crucial stepping stone for its international ambitions.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2914071396457090">article</a> was written by Yang Yafei for 36Kr.

Black Myth: Wukong frenzy crashes Luckin Coffee’s system, could be key to global expansion

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