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… have lost market share."
The big test for the entrants, he said, will be meeting customers' needs post sale, noting market leaders like Toyota, Ford, Mazda, Kia, and Mitsubishi have spent a lot of time and money building nationwide service and repair networks.
"The question is will the Chinese brands take the same amount of care or are they just going to be focused on that one goal, which is just getting as many cars into the country as possible," he said.
Mark Avis, a 40-year car sales veteran and general manager of Brighton Auto, is among the dealers that have made the switch. His once Honda-badged showroom in Melbourne changed to GWM branding after the Japanese company terminated his franchise arrangement, and he says he's now selling about the same amount of the Chinese brand as he did with Honda.
"It's history repeating itself," Avis said. "When the Japanese cars came in the 1970s and the 1980s, they were good-quality cars that were undercutting pricewise."
He said that Chinese models have filled a void at the affordable end of the market after cost-of-living concerns began to set in following the Covid-19 pandemic. But he pointed to a key difference from the Japanese and South Korean waves of the past.
"The main difference between the Chinese and the legacy automakers is the speed to market," he said. "It's not a three- or four- or five-year process. They can get [new models] to market fairly quickly."
The new entrants are also benefiting from increasingly brand-agnostic consumers, Avis said. Gone are the days when it was common to swear allegiance to either Australian built Holdens, a subsidiary of General Motors, or their chief locally produced rival Fords.
"The younger generation, it appears to me, don't have the same loyalty," he said.
BYD, which entered Australia in 2022, is looking to make further inroads after rocketing into the top 10. Initially selling through a third-party distributor and a joint venture with Eagers Automotive, the country's largest dealership group, the Chinese auto giant took full control of its Australian distribution this month.
Stephen Collins, the company's recently appointed Australian chief operating officer, said the switch would streamline operations as its presence in the country grows. Its focus will be on pick-up models and SUVs, the latter category being most popular in Australia, with 22% of the market.
"To succeed in Australia really means opportunities to succeed in other advanced and highly competitive markets," he told Nikkei Asia, saying BYD's core strength in EVs and hybrid cars means it was well positioned.
"We've got aspirations to be bigger and better. I'm not going to call out a number or a ranking, but we've certainly got aspirations for that trajectory to continue."
Back at the Springs Adventure Park, Bree wanted his hill to be at the center of the battle. After GWM's success, South Korean automaker Kia organized a run for its ute, the Tasman, which reached the summit. Bree said he had been in touch with BYD about taking a Shark up the hill, but it has yet to go ahead.
The previous three attempts in that vehicle had been by privately owned cars. One had to be hauled up using a winch. Another "substantially damaged."
He issued a challenge to any automaker marketing models as tough off-roaders to test their mettle and demonstrate they had the grit needed to ascend Beer O'Clock Hill.
"Every brand has to have an opportunity to prove itself," he said. 'What better way to do that than probably one of the most treacherous hills on the planet?"
This article first appeared on <a href="https://asia.nikkei.com/business/technology/tech-asia/china-s-automakers-bring-tech-edge-to-australia-s-small-but-brutal-market">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 automakers bring tech edge to Australia's small but brutal market

Transportation

Electric Vehicles

Mobility

Australia

China

Oceania

China’s <a href="/industry/semiconductors">semiconductor</a> industry is stepping up its global expansion. According to the General Administration of Customs, China exported 298.11 billion chips in 2024, with a total export value of USD 159.5 billion, an 18.7% increase year-on-year. For the first time, chips became China’s top single export product by value, surpassing traditional categories such as apparel and mobile phones.
The sector’s increasing sophistication has fostered a cohort of specialized, less known firms quietly making their way into international markets. Many, having stabilized product exports, are now working to integrate into high-end global supply chains through technological innovation, capital deployment, and collaboration. Others are using “reverse innovation” to outpace global competitors in niche segments.
In 2025, a key trend is the rising number of Chinese semiconductor firms pursuing Hong Kong listings as part of broader globalization strategies. These include:
<ul>
<li aria-level="1">Silicon Magic, a leader in OLED display PMICs (power management integrated circuits).</li>
<li aria-level="1">Montage Technology, a global supplier of memory interface chips.</li>
<li aria-level="1">GigaDevice, a key player across several chip segments.</li>
</ul>
Each aims to tap international capital to expand R&amp;D and pursue strategic acquisitions. This article explores their strategies based on public prospectuses, unless otherwise noted.
<h3>Silicon Magic</h3>
Founded in 2019 and headquartered in Hangzhou, Silicon Magic designs and sells power semiconductors. Frost &amp; Sullivan ranks it first globally in OLED display PMIC shipments over the past decade.
Power semiconductors regulate voltage and current to optimize energy use in electronic systems. Silicon Magic’s offerings include PMICs for portable devices; power devices such as MOSFETs (metal-oxide semiconductor field-effect transistors) and IGBTs (insulated gate bipolar transistors) for industrial and communications use; and display PMICs for LCD and OLED panels.
The company uses a “fab-lite” model, focusing on design while ensuring supply chain stability through manufacturing partnerships. It holds a 16.76% stake in Fullsemi, a foundry operating 12-inch wafer lines tailored for high-performance power management ICs.
Sales are split between direct engagement with strategic customers and distribution to mature markets. The core team brings over 20 years of R&amp;D experience. As of its most recent filing, Silicon Magic held more than 150 granted patents and 159 pending applications. R&amp;D spending rose from 14.6% to 25.8% of revenue between 2022–2024.
International markets made up 68.1% of revenue in 2024, with key regions including South Korea, Japan, Germany, Brazil, and India. Its 2020 acquisition of South Korean PMIC firm SMI expanded its global supply chain footprint.
In July 2025, Silicon Magic filed for an H-share listing in Hong Kong. Proceeds are intended for R&amp;D and production capacity, strategic investments, sales efficiency improvements, and general operations.
The global power semiconductor market grew from RMB 411.5 billion (USD 57.6 billion) in 2020 to RMB 595.3 billion (USD 83.3 billion) in 2024. It is projected to reach RMB 802.9 billion (USD 112.4 billion) by 2029, led by demand from the automotive, <a href="/industry/ai">artificial intelligence</a> infrastructure, and industrial <a href="/industry/robotics">robotics</a> sectors.
<h3>Montage Technology</h3>
Established in 2004 and listed on Shanghai’s STAR Market since 2019, Montage Technology held a 36.8% share of the global memory interface chip market in 2024, according to Frost &amp; Sullivan.
Its business spans two main areas:
<ul>
<li aria-level="1">Interconnect chips, including memory interface as well as PCIe (peripheral component interconnect express) and CXL (compute express link) retimer chips.</li>
<li aria-level="1">The Jintai server platform, a domestic CPU solution.</li>
</ul>
Montage follows a fabless model, outsourcing production while focusing on chip design. Procurement is concentrated, with the top five suppliers accounting for over 70% of purchases. More than 85% of sales are direct.
The company is heavily international, with overseas revenue contributing 66.9%, 84.0%, 70.8%, 76.5%, and 76.4% of total sales from 2022 through the first quarter of this year. Key clients include Samsung, SK Hynix, and Micron. In Q1 2025, its top five clients generated 80% of revenue.
In April, the company reported that US-bound shipments accounted for less than 1% of 2024 revenue, and recent tariffs had minimal impact.
Montage filed for an H-share listing in July. Proceeds will be used for R&amp;D in interconnect chips, expanding global commercial teams, strategic acquisitions, and general operations.
The global high-speed interconnect chip market is expected to grow from USD 15.4 billion in 2024 to USD 49 billion by 2030. Montage’s core focus areas are projected to drive a significant share of that growth.
<h3>GigaDevice</h3>
Established in 2005, GigaDevice is a fabless chipmaker active across memory, microcontrollers (MCUs), analog, and sensor chips. In 2024, Frost &amp; Sullivan ranked it among the global top ten in NOR flash, SLC NAND flash, niche DRAM, and MCUs.
Its largest business segment is specialty memory. The MCU business markets itself as a “one-stop shop” with over 60 product series and 700 models. GigaDevice also acquired Xysemi, a battery protection firm, to expand its analog chip capabilities.
GigaDevice employs an integrated product development (IPD) approach, coordinating R&amp;D, market research, production, and sales to accelerate iteration. By 2024, technical staff comprised over 70% of its workforce, and R&amp;D spending consistently exceeded 15% of revenue. The company held 997 granted patents and 492 pending applications in mainland China.
Most sales go through distributors, although direct sales are also used. GigaDevice operates in over 40 countries, with service hubs in the US, South Korea, Japan, the UK, Germany, and Singapore. Its top five customers accounted for 29.3%, 30.6%, and 33.3% of sales in 2022, 2023, and 2024, respectively.
In June, GigaDevice filed for a Hong Kong listing. It plans to use the proceeds to expand R&amp;D, pursue acquisitions, enhance its global network, and support general operations.
The company sees global markets as key to scalable growth. It plans to build international headquarters, increase global supply capacity, and deepen presence in strategic regions.
The global specialty memory chip market is projected to rise from USD 13.6 billion in 2024 to USD 20.8 billion by 2029, offering continued room for expansion.

China’s chipmakers look to Hong Kong listings to fuel global growth

Deep Tech

Semiconductors

Hong Kong

Guoquan Food, a leading and fast-growing brand of home meal products in China, reported strong interim results for the first half of 2025 on August 4, with core operating profit growing alongside steady revenue gains.
The company recorded total revenue of RMB 3.24 billion (USD 453.6 million) in the first six months of the year, up 21.6% from the same period in 2024. Net profit surged 122.5% year-on-year (YoY) to RMB 190 million (USD 26.6 million), more than doubling from a year earlier. Guoquan also projected full-year shareholder returns to exceed RMB 499 million (USD 69.9 million), a 130.7% increase from the same period in 2024.
Gross margin remained stable at 22.1%, while cost controls contributed to the bottom line. Selling and distribution expenses declined to 9.5% of revenue from 11.3% a year earlier. Administrative expenses dropped to RMB 210 million (USD 29.4 million), or 6.4% of revenue, compared with 8.3% in the first half of 2024. Core operating margin rose 1.2 percentage points to 5.9%, signaling improved operational efficiency.
<h3>Expanding reach in lower-tier cities and 24-hour retail</h3>
Guoquan’s growth trajectory is underpinned by both an expanding customer base and storefront network. Registered membership rose 62.8% YoY to approximately 50.3 million, but the company’s physical stores remain its primary revenue driver.
As of mid-2025, Guoquan operated more than 10,400 stores across China, building on its network from the end of 2024. It added 270 new township-level stores in the first half of the year, part of a broader effort to reach underserved markets. These locations feature tailored product assortments and localized displays to better align with local demand.
Technology is also becoming a core enabler. More than 2,000 stores now operate with smart and unmanned systems, allowing for 24-hour service. These upgrades support round-the-clock retail, extending store availability even after regular hours.
<figure id="attachment_156436" aria-describedby="caption-attachment-156436" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-156436" src="https://console.kr-asia.com/wp-content/uploads/2025/08/Guoquan-Food.jpg" alt="" width="1920" height="1280" srcset="https://console.kr-asia.com/wp-content/uploads/2025/08/Guoquan-Food.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/08/Guoquan-Food-720x480.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/08/Guoquan-Food-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/08/Guoquan-Food-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/08/Guoquan-Food-1536x1024.jpg 1536w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-156436" class="wp-caption-text">Image and header image courtesy of Guoquan Food.</figcaption></figure>
<h3>Omnichannel strategy to drive engagement and retention</h3>
Alongside its offline push, Guoquan has built an omnichannel ecosystem encompassing its proprietary app, a WeChat mini program, third-party delivery platforms, and social media channels such as Douyin.
In the first half of 2025, the company’s Douyin content alone reportedly generated more than 3.2 billion impressions. Promotional tools, including digital coupons and bundled discounts, helped direct traffic to physical stores and contributed to a more than twofold increase in retail sales.
Guoquan’s prepaid membership model remains a key pillar in customer retention. Prepaid card balances reached RMB 590 million (USD 82.6 million) in the first half of 2025, up 37.2% YoY, pointing to growing consumer loyalty.
Brand engagement efforts also continue through “Guobao,” a cartoon mascot featured in digital campaigns. The character serves to reinforce brand identity and deepen emotional connection with consumers.
<h3>Shareholder returns bolstered by dividends and buybacks</h3>
Guoquan declared a midyear cash dividend of RMB 190 million (USD 26.6 million) during its interim earnings presentation. This follows a pending year’s end dividend for 2024 of RMB 198 million (USD 27.7 million). Together with RMB 111 million (USD 15.5 million) in share buybacks completed so far in 2025, total shareholder returns are on track to exceed RMB 499 million (USD 69.9 million), up 130.7% YoY.
Through its dense retail footprint, tighter cost structure, and continued investment in digital and physical channels, Guoquan has accelerated both top- and bottom-line growth. Its first-half performance reflects rising demand for convenient at-home dining and reinforces its strategy of positioning itself as a “central kitchen for communities.”
With growing investor interest and a clearly articulated path forward, Guoquan appears well-positioned to maintain its momentum into the second half of the year.
The company trades under the <a href="https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=2517&amp;sc_lang=en">ticker 2517</a> on the Hong Kong Stock Exchange. In its August review, US-based index provider MSCI added the company to its China Small Cap Index, effective after market close on the 26th.
This article was published in partnership with <a href="https://www.zzgqsh.com/website/main?lang=en_US">Guoquan Food</a>.

Guoquan serves up strong H1 earnings on robust demand, cost control

… scrolling="no" sandbox="allow-same-origin allow-forms allow-scripts allow-downloads allow-popups allow-popups-to-escape-sandbox allow-top-navigation-by-user-activation"></iframe></div>
<h3>4. A practical blueprint, grounded in frontline data for diverse stakeholders</h3>
Unlike reports limited to macro-level analysis or narrow technical trajectories
Going beyond macro-level analysis and technical summaries, the “AI Applications Expanding Globally: 2025 Insight Report on Infrastructure, Market Readiness, and Scenario-based Differentiation” delivers field-driven insights grounded in real-world conditions. Based on in-depth research involving 700 Chinese AI application firms expanding globally, it offers a systematic overview of actual market demands and actionable strategies.
For corporate decision-makers, the report outlines a closed loop of computing infrastructure, market penetration, and monetization, identifying infrastructure as the primary point of leverage. Drawing on real-world data, it highlights trends such as GPU cloud adoption, the rising importance of scenario-specific customization, and the priorities shaping computing investments and cost strategies. It also provides an in-depth breakdown of differentiated infrastructure demands across the training and inference phases in seven high-growth segments, along with practical recommendations for resource deployment. These insights may serve as a foundation for crafting targeted global strategies and managing key risks.
For AI R&amp;D and engineering teams, the report offers highly adaptable, technically specific guidance. It maps sector-by-sector challenges to recommended infrastructure configurations and optimization strategies. It also explores trends such as scenario-defined infrastructure, software-driven hardware value realization, and multimodal fusion, offering practical input for tech selection and system architecture enhancement.
For investors and industry researchers, the report delivers a panoramic view of China’s AI global expansion. It quantifies market opportunities, pinpoints common challenges, and reveals the paths taken by leading players. The in-depth analysis of divergent development trajectories and computing demands across seven key segments offers valuable benchmarks for identifying high-growth opportunities, evaluating technical barriers, and assessing business model sustainability.
The report’s exploration of infrastructure optimization strategies, including solutions from emerging providers such as GMI Cloud, also highlights the service layers that underpin the complexities of global expansion.
Notably, AI is evolving at a much faster pace than traditional sectors, and application formats and user expectations can both shift rapidly. The report centers its focus on supporting decision-making over the next one to two years, which represents a crucial window for cross-border expansion. Amid this volatility, demand for efficient, stable, and cost-effective infrastructure will foreseeably remain constant.
Through its detailed assessment of infrastructure-related challenges, evaluation of GPU cloud and other solutions, and emphasis on scenario-specific deployment, the report addresses this core imperative.
Together, these insights offer a durable foundation for global expansion, equipping companies with the clarity to stay competitive even as technologies continue to evolve. Backed by real-world data, they also provide companies the clarity needed to navigate global markets with strategies built to last.
The full report, including raw data and detailed insights into computing requirements across seven featured segments, is <a href="https://sourl.co/skCifH">available for download here</a>.
This article was published in partnership with 36Kr Research Institute.

AI applications go global: New report reveals gaps in infrastructure, market readiness, and scenario-based customization

Artificial Intelligence

AI Infrastructure

… reliance on CATL, announcing a diversified supply strategy. Yet the first two models Xpeng is co-developing with Volkswagen are reportedly set to use CATL batteries, suggesting the relationship isn’t over.
Following the July launch of the Leapmotor C11, CEO Zhu Jiangming expressed cautious optimism. “We only just won the war of resistance,” he said, referring to the company’s first profitable quarter in late 2023. “If we can’t ramp up sales quickly and boost both earnings and market share, things could get dangerous.”
Expanding its battery pack business may be exactly the kind of complementary strategy Leapmotor needs to grow profits and fortify its vehicle business.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3411369394654855">article</a> was written by Fan Shuqi for 36Kr.

Leapmotor starts selling battery packs, opening new front in EV competition

East Asia

Leapmotor

Batteries

Energy

Battery

<blockquote>China Recap is a weekly roundup tracking Chinese companies expanding abroad, covering market entries, funding rounds, product launches, and global partnerships.</blockquote>
China’s corporate globalization strategy is evolving fast. Industry giants are rewriting the global playbook, while a new generation of companies charts fresh paths overseas.
China Recap tracks both—focusing on strategic expansion, brand building, and localized operations—to help readers make sense of shifting trends and understand how Chinese firms are reshaping their global approach.
Here’s what made headlines last week:
<h3>China’s mobility players double down on innovation and scale</h3>
<ul>
<li aria-level="1"><a href="/company/xpeng">Xpeng Motors</a> has launched an all-new P7 sedan in Beijing, offering up to 820 kilometers of range based on CLTC (China Light-Duty Vehicle Test Cycle) standards and powered by in-house chips supporting voice, cockpit, and driving functions. Featuring 800-volt fast charging, streamlined aerodynamics, and a tech-focused luxury interior, the <a href="/industry/ev">electric vehicle</a> model reportedly secured over 10,000 preorders within seven minutes of launch. —<a href="https://www.jiemian.com/article/13141369.html">Jiemian News</a></li>
<li aria-level="1"><a href="/company/xiaomi">Xiaomi</a> has hired Kai Langer, former head of design for BMW’s i series, as it expands its EV ambitions. Langer will join a setup including Li Tianyuan, formerly the lead designer of BMW’s iX SUV, to help shape Xiaomi’s car lineup. The duo represents a fusion of legacy automotive expertise with the company’s tech-driven approach to EVs. —<a href="https://auto.sina.cn/news/2025-08-06/detail-infizxps9925801.d.html">Sina</a></li>
<li aria-level="1"><a href="/company/geely">Geely</a> is reportedly in talks to merge autonomous driving teams from Zeekr, its R&amp;D arm, and Megvii’s Mach unit into a joint venture established in June. The move aligns with Geely’s strategy to centralize smart driving R&amp;D and deploy a unified system across its brands. —<a href="https://www.nbd.com.cn/articles/2025-08-05/4001469.html">National Business Daily</a></li>
<li aria-level="1">WeRide has begun round-the-clock robotaxi testing in Beijing by commencing nighttime operations from 10 p.m. to 7 a.m. under a new city permit. The Nasdaq-listed firm aims to build an always-on autonomous mobility network, using a full sensor suite and proprietary tech to ensure safety in low light and adverse weather.</li>
<li aria-level="1"><a href="/company/baidu">Baidu</a> and Lyft will launch Apollo Go robotaxi services in Germany and the UK in 2026, pending regulatory approval. The partnership combines Baidu’s autonomous driving tech with Lyft’s European footprint via Freenow, aiming to scale autonomous ride-hailing across key markets while meeting safety and compliance standards.</li>
<li aria-level="1"><a href="/company/pony-ai">Pony.ai</a> has reportedly secured a permit to operate fully driverless commercial robotaxi services in Shanghai’s Pudong New Area. Set to launch in Jinqiao and Huamu, Pony.ai is ostensibly the only company currently licensed to serve all four of China’s first-tier cities.</li>
<li aria-level="1"><a href="/company/leapmotor">Leapmotor</a> and Xpeng set new records in July, delivering 50,129 and 36,717 EV units respectively, as China’s price war showed signs of easing and demand shifted toward budget-friendly smart models. Xiaomi also exceeded 30,000 units, with its new YU7 SUV drawing 240,000 preorders in two days. —<a href="https://www.scmp.com/business/china-evs/article/3320540/leapmotor-xpeng-report-record-july-sales-their-cheaper-evs-appeal-chinese-consumers">SCMP</a></li>
<li aria-level="1"><a href="/company/nio">Nio</a> delivered 21,017 vehicles in July 2025, bringing its year-to-date total to 806,731, up 25.2% year-on-year. Deliveries included 12,675 Nio units, 5,976 Onvo units, and 2,366 Firefly units. The Onvo L90 entered the market on August 1 with 1,000 test drive vehicles. Nio’s new ES8 is set to debut later this month.</li>
</ul>
whereRelatedArticle
<h3>PingPong to support Wero rollout in Asia</h3>
PingPong will support Wero, Europe’s new unified payment app, starting October. Backed by 16 banks, Wero enables real-time cross-border payments using a phone number or email and targets 250 million users. PingPong clients will gain access to EU retail, point-of-sale, and subscription payments through a single system. —<a href="https://finance.sina.com.cn/tech/2025-08-05/doc-infiwxky9482741.shtml">Sina</a>
<h3>Tianlala opens three stores in Bali</h3>
Chinese tea chain Tianlala opened three new stores in Bali on August 3, expanding to 130 signed stores in Indonesia and over 200 globally. Located in key commercial areas, the stores reportedly drew more than 1,000 visitors on day one. The brand aims to deepen its Southeast Asia presence while exploring expansion into Europe and the Middle East.
<h3>Chinese suppliers join Toyota’s Thai push</h3>
Toyota is sourcing more Chinese-made parts in Thailand to reduce costs for a new electrified car model set to launch in 2028. The company facilitated a joint venture between Thailand’s Summit Group and China’s Yuefei New Materials to produce components locally, marking the first known case of a major Japanese automaker bringing a Chinese supplier into Southeast Asia. —<a href="https://asia.nikkei.com/business/automobiles/toyota-expands-procurement-of-chinese-parts-in-thailand">Nikkei Asia</a>
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. <a href="mailto:changweiqian@global.36kr.com">Get in touch</a> to share your story.

China Recap | Mobility players on the move

… that size could pose real hazards.
Other demos were also met with skepticism. Expedition A2-W’s WAIC logistics demo used identical soft clothing items, far from the messy variability of real-world warehouse environments. “This kind of task was already doable in 2018,” Wang Luchuan said. By comparison, Figure AI’s demo appeared significantly more adaptive and refined.
Agibot’s viral Lingxi X2 bike-riding demo also lost some luster upon closer inspection. The robot was mounted on the seat, relying on center-of-gravity physics rather than actual balance algorithms.
Wang Luchuan assessed the company’s progress bluntly:
<blockquote>“If Tesla’s at 30–40 out of 100, Agibot is at about 5. There’s still room to grow.”</blockquote>
<h3>The burden of brilliance</h3>
A company growing too fast can leave people behind.
“Zhihui is brilliant, full of ideas, and works really hard. But he’s never launched a complete product before, and now that he’s in the driver’s seat, it’s tough on the team,” said Qin Yi, a former colleague.
Peng Zhihui rose to prominence after winning nearly 40 innovation awards as a student. He later joined Huawei through its "Genius Youth" program and built a following as a tech influencer on <a href="/company/bilibili">Bilibili</a>. In February 2023, he co-founded Agibot and took on the role of CTO.
In August 2024, Peng introduced the fully open-source Lingxi X1 robot. Two months later, he released the complete set of blueprints and source code. Priced at RMB 108,000 (USD 15,120), the robot was developed by Peng’s X-Lab team in just over two months with fewer than ten people. Reviews, however, were mixed. Customers reported issues such as uneven weight distribution, instability, and a lack of after-sales support.
“Zhihui meant well, he wanted to revive the open-source spirit of the early internet era,” Qin said.
By January, Agibot claimed to have shipped 1,000 robots: 731 bipedal units (Expedition A2 and Lingxi X1) and 269 wheeled models (Expedition A2-D and A2-W). But turning a lab prototype into a commercial product proved premature. Without dedicated support infrastructure, users faced usability and integration problems.
According to insiders, the Lingxi X2 is far more refined and better suited for mass production. It’s also expected to outsell the Expedition series this year.
“The X1 was built by X-Lab as a DIY kit, while X2 is a fully assembled product meant for real deployment,” Wang Chuang said.
Still, Peng’s dual role as CTO and head of X-Lab comes with challenges. His ideas are reportedly often bold but not always grounded in practicality. “You need hard data to convince him of anything,” one employee said.
The clash of visions and misalignment with team dynamics has led to further turnover. Notable departures include former algorithm director Gao We and former manufacturing general manager Zhang Shaozheng.
“There were directions Gao wanted to pursue. If the company had followed his lead, we might have made more progress,” said employee Yin Kuan (pseudonym).
whereRelatedArticle
<h3>Hedges and ambitions</h3>
Unitree Robotics, founded by Wang Xingxing in 2016, only began IPO preparations in mid-2024, nearly a decade later. Now backed by CITIC Securities, it stands as one of the industry’s most established players.
By contrast, rumors in July suggested Agibot was pursuing a Hong Kong listing alongside its acquisition of Swancor. The company denied the reports. “We’re eyeing a domestic IPO by year’s end, but that’s still under discussion,” said Yang Kexin.
If Agibot does file for IPO by December, it will have reached the IPO stage in under three years, accomplishing in a fraction of the time what took Unitree ten.
Some insiders view the Swancor deal as a contingency plan for CEO Deng, perhaps a way to keep listing ambitions alive, even if Agibot doesn’t claim the title of China’s first publicly traded humanoid robotics firm. The logic: if a direct listing falters, a strategic merger could still offer a viable path.
For now, Agibot’s divisional model supports rapid, production-oriented growth. But without a coordinating layer, internal tensions could rise, potentially forcing a future reorganization to reintroduce horizontal platform teams and restore strategic cohesion.
So what has Agibot truly gained from the Swancor episode?
Beyond the headlines, perhaps only temporary relief. Investor sentiment has been reassured. Internal pressures may have eased, for now. But if Agibot does go public, it will have to answer to a more demanding audience: the open market.
The robotics boom has drawn its share of opportunists. But the industry’s long-term promise, and the talent driving it, deserve more than hype.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3411249419505024">article</a> was written by Chen Jiahui for 36Kr.

Agibot loses two top execs as robotics race heats up

Agibot

Robotics

US YouTube sensation MrBeast has become the latest internet celebrity to enter China's competitive social media landscape, fueling growth opportunities for Chinese companies and a government seeking to tap into his vast fan base.
China's internet censors block such global platforms as YouTube and X, so foreigners who establish a presence on Chinese platforms gain access to the country's 1.1 billion internet users.
MrBeast, whose real name is Jimmy Donaldson, has amassed over 416 million subscribers on YouTube, where he is known for extravagant videos often featuring lavish prizes for participants. On July 26, he made his live stream debut on a Chinese video platform, broadcasting on the <a href="/company/kuaishou">Kuaishou</a> short video app.
"I've never been live in China before, so I'm excited to say hi," MrBeast said at the beginning of the live stream, which quickly gained 150,000 viewers. Initially scheduled to last an hour, the live stream ended after just 11 minutes, as MrBeast appeared frustrated that he couldn't read the Chinese comments. He said he would try again after figuring out how to translate them.
Apart from Kuaishou, he has also launched accounts on the <a href="/company/bilibili">Bilibili</a> video streaming platform and the Weibo microblogging app, quickly gaining millions of followers.
For local streaming services locked in cutthroat competition for user attention, attracting high-profile celebrities like MrBeast can drive growth in new users and boost advertising and livestreaming revenue. Shares of Hong Kong-listed Kuaishou rose 7% on July 23, the day after MrBeast announced his live streaming plans.
Foreign influencers can also help boost the recognition of Chinese companies increasingly seeking a foothold in overseas markets. A glimpse of this potential emerged earlier this year when concerns over a possible <a href="/company/tiktok">TikTok</a> ban in the US prompted a swath of users to <a title="" href="https://kr-asia.com/tiktok-refugees-a-mixed-blessing-for-chinese-app-xiaohongshu" target="_blank" rel="noopener">migrate to Xiaohongshu (known internationally as RedNote)</a>, a platform previously used mostly in mainland China. Initially, interactions between the "TikTok refugees" and Chinese users were marked by curiosity and openness.
IShowSpeed, whose real name is Darren Watkins Jr and who has more than 42 million subscribers on YouTube, took a two-week tour across China in March and April. On the trip, he rode in <a href="/company/byd">BYD</a> and <a href="/company/xiaomi">Xiaomi</a> <a href="/industry/ev">electric vehicles</a> and bought <a href="/company/huawei">Huawei's</a> trifold smartphones, praising the products' technology capabilities.
Following his endorsement, the Chinese animated series Super Cube became the most-viewed animated work in the US on the iQiyi video streaming platform for several weeks.
The Chinese government and state media have been quick to embrace these foreign influencers for propaganda purposes and have stepped up efforts to court them for visits.
"China has always been, dare I say, a little insecure about its soft power globally," said Mark Tanner, managing director of market research company China Skinny, referencing the idea of winning the hearts and minds through culture and values rather than coercion.
"With IShowSpeed, they saw that this is a really effective channel to reach consumers, particularly the young and informative consumers that live their lives on these platforms," Tanner noted.
"Rather than trying to censor and screen a lot of these things, they're seeing the benefit of working with them," he said. "The government is welcoming them with open arms."
In February, a series of articles about a group of Indonesian influencers touring the southwestern city of Chongqing appeared on the English-language websites of state-run media outlets. The tour was coordinated and covered by the Western China International Communication Organization, a center affiliated with the propaganda office of Chongqing's Communist Party leadership, according to the China Media Project.
Similarly, in June, party newspaper China Youth Daily launched a campaign inviting foreign influencers on sponsored trips to major cities, including Beijing and Shanghai. In exchange, participants were required to post two short-form videos and collaborate with Chinese influencers. The tour included stops such as the headquarters of Xiaohongshu.
The tour was scheduled for July 14–23, according to the China Youth Daily website. Asked for clarification, the program coordinator declined to comment.
It is often difficult to determine whether these foreign influencers receive financial backing for their content, as such arrangements are not always disclosed, according to an employee at a Chinese talent agency that connects sponsors with influencers. He noted that while influencers generally produce their own videos, companies may sometimes pay for content that meets specific requirements or request to review the footage.
Live streaming in China also comes with risks. When a popular influencer, Li Meiyue, joined IShowSpeed's tour, some of his comments were deemed offensive by viewers and triggered backlash online. Although he later issued an apology, he still saw a decline in followers.
This article first appeared on <a href="https://asia.nikkei.com/business/media-entertainment/china-embraces-us-youtubers-in-push-to-enhance-soft-power">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 embraces US YouTubers in push to enhance soft power

Entertainment

Short Video

Live Streaming

Video

Creative

Content

Creator Economy

… Guangdong.
<h3>36Kr: What challenges is Outer still facing?</h3>
LJ: In the short term? Plenty. There are policy shifts, cost pressures, market volatility, and hiring. But long term, we’re optimistic. It takes time to build a brand. It’s like a snowball, getting stronger as it rolls.
We’re playing the long game. We want to be profitable, self-sustaining, and continually improving. We don’t need to release new products every quarter, but every generation needs to be better than the last.
<h3>36Kr: What are Outer’s next key priorities?</h3>
LJ: Two big ones. First, building a team in China to support our outdoor living business. Second, successfully launching our second flagship product.
Longer term, we’re building an ecosystem. What we’re doing is more like backyard real estate development. Once we’ve built the infrastructure, we want to open it up by partnering with brands across fitness, cooking, home tech, and more.
We want to give brands a new venue for growth: an outdoor setting that’s threefold the size of a typical home interior. Whether it’s a gym, kitchen, sauna, office, theater, or golf simulator, we want Outer to be the go-to backyard platform.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3390866301700231">article</a> was written by Ou Xue for 36Kr.

From sofas to prefab spaces, Outer wants to shape the future of backyard living

Retail

Consumer Economy