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With domestic consumption in a slump and headwinds battering the home appliance sector, Haier Smart Home has managed to buck the trend in the first half of 2024. Against a backdrop of uncertainty, the company’s latest financial report tells a story of resilience: revenue climbed to RMB 135.62 billion (USD 19 billion), up 3.03% year-on-year, while net profit shot up by 16.3%, reaching RMB 10.42 billion (USD 1.5 billion). Among China’s top appliance makers—Haier, Midea, and Gree—it was Haier that led the way in profit growth.
This success didn’t just materialize out of thin air. While a pivot toward high-end markets helped, the company’s overseas expansion has proven to be a game changer.
In the first half of 2023, Haier’s international revenue swelled to RMB 70.82 billion (USD 9.9 billion), a 3.7% uptick from the previous year. In regions like South Asia, Southeast Asia, and the Middle East and Africa, the company saw growth rates of 9.9%, 12.4%, and 26.8%, respectively. With more than half of its total revenue now coming from international markets, Haier’s global playbook is paying off in a big way.
One notable move came in July, when Haier acquired Electrolux’s South African water heater business, marking a significant step into Africa’s emerging markets. But this is just the latest chapter in Haier’s longstanding strategy to make inroads into the continent.
Back in 2023, Haier broke ground on a USD 160 million eco-industrial park in Egypt. The park, operational by the first quarter of 2024, spans around 200,000 square meters and stands as the company’s first digital twin facility in the Middle East and Africa. With a yearly production capacity of over 1.5 million units, it supplies appliances to markets across Africa, the Middle East, and Europe. After two decades on the continent, Haier’s African adventure is moving into a new phase—one likely to be more intricate as it aims to deepen its presence.
<h3>Doubling down on South Africa</h3>
Since 2021, Haier’s international revenue has consistently outpaced its domestic sales, with growth rates abroad leaving its performance in China in the dust. By 2023, nearly 52% of the company’s total revenue came from international markets, with standout performances across North America, Japan, and Europe. In the U.S., subsidiary GE Appliances has been the fastest-growing appliance brand for two consecutive years. In Japan, Haier leads the white goods market, while in Europe, its Fisher &amp; Paykel brand has topped growth charts for eight years running.
The company’s strategy for capturing international markets is clear: acquire well-known local brands to quickly establish market share and deepen its brand awareness. Haier leans on these acquisitions to tap into existing sales channels and resources, accelerating its global reach.
In South Africa, this approach played out in July when Haier inked a deal with Electrolux to buy out its South African business for ZAR 2.45 billion. Electrolux had carved out a niche in the water heater market, especially with its Kwikot brand—a staple in South African homes for over a century. Kwikot’s strong sales network and after-sales service give Haier an immediate foothold in the region’s water heater market, with opportunities to cross-sell its broader range of home appliances.
Haier’s first steps into Africa came in 1998 as part of its broader globalization strategy. By localizing its research, manufacturing, and marketing efforts, it established a strong brand presence in the region early on. In Nigeria, for example, Haier developed products designed specifically for the local market—like freezers that can keep food frozen for 100 hours during power outages and air conditioners that can run on generators. These innovations were well received, strengthening Haier’s brand across Africa.
By 2001, Haier had air conditioner manufacturing bases in Algeria, Nigeria, and Tunisia. In 2019, the company set up a trading company in Egypt, and by 2020, it shifted its focus to building high-end localized brands. Haier’s influence in Africa has even extended beyond home appliances, with Haier Biomedical establishing vaccination stations and solar-powered mobile clinics to support healthcare in underserved areas.
<h3>Charging into Africa’s white goods market</h3>
Africa’s home appliance market, while still developing, holds immense potential. Statista estimates the market will generate USD 61.36 billion in 2023, with an expected compound annual growth rate of 7.53% through 2028. South Africa plays a pivotal role, with its appliance market set to reach USD 3.64 billion by 2024, growing at an annual rate of 6.55% through 2029.
This surge in demand is largely driven by rapid urbanization, population growth, and rising disposable incomes. As Africa’s middle class grows, so does the appetite for high-end appliances, particularly in markets like South Africa and Egypt. Haier’s financial reports show robust growth in Africa, especially in the water heater and home appliance segments. With rising incomes and growing economies, the company is well positioned to capture a larger slice of the appliance market, particularly in refrigeration and other key categories.
For African consumers, reliability is a must. The continent’s inconsistent electricity supply makes energy efficiency a top concern when selecting appliances. Haier’s products, such as air conditioners designed to run on backup generators, are in high demand. Government programs promoting energy-efficient products are also driving sales, as consumers look for appliances that can handle the region’s unique energy challenges.
While Chinese brands like Haier, Gree, and Midea dominate Africa’s home appliance market thanks to their manufacturing scale and cost advantages, they face stiff competition. Gree has introduced photovoltaic air conditioners to help tackle Africa’s energy supply issues, while Midea has also tailored its products for local conditions, offering air conditioners that perform well in coastal regions and handle West Africa’s voltage instability with ease.
Yet, the competition in Africa’s home appliance market is heating up, with brands from South Korea, Europe, and beyond vying for a piece of the pie. As infrastructure improves and the region opens up further, the battle for market share will only intensify.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2949656915976320">article</a> was written by Lin Qingqing for 36Kr.

Haier’s African gamble pays off as profits surge in a tough 2024

China Tech

Hardware

China

MENA

Xiaomi has revamped its smart driving team, merging its perception unit and its planning and control division into a new department focused on end-to-end (E2E) algorithm and function development. This restructuring marks a crucial step as Xiaomi accelerates the development of its smart driving solutions, aiming for mass production.
By shifting away from traditional modular methods and embracing E2E large model technology, Xiaomi is entering a new phase—one centered on rapid deployment and broader applications for its smart driving tech.
As electric vehicles flood the market, Xiaomi faces stiff competition, especially in the fast-evolving urban smart driving space. To stand out and maintain sales momentum, the company needs to close the gap in its autonomous driving capabilities. This organizational shake-up signals that Xiaomi is ramping up its efforts to compete.
At the same time, Xiaomi has elevated its team responsible for pre-research into autonomous driving, shifting their focus to developing Level 3 and Level 4 autonomous products. It’s a critical move as the company aims to push the boundaries of what’s possible in smart driving.
Xiaomi’s smart driving teams now span across Beijing, Shanghai, and Wuhan, employing around 1,200 people. This newly formed department will handle both light detection and ranging (LiDAR)-based and non-LiDAR-based systems, under the leadership of Ye Hangjun, chairman of Xiaomi’s technical committee and head of its autonomous driving division.
The urgency behind this restructuring comes as competition in the smart driving sector heats up. Xiaomi is determined to accelerate its path to market.
Since announcing its entry into car manufacturing in 2021, Xiaomi has moved fast. By August 2022, it had rolled out a Level 2 assisted driving system capable of navigating urban roads, highways, and parking scenarios. Just two years later, in June 2023, Xiaomi introduced its urban driving assistance feature to select users. By the end of August, this system was available nationwide, and after its fourth over-the-air update in September, users in cities like Beijing, Shanghai, and Guangzhou, who had logged at least 1,000 kilometers of safe driving, could activate the feature.
Xiaomi’s trajectory—from building the team to launching the urban navigate-on-autopilot (NOA) feature—took just three and a half years. For comparison, rivals like Huawei and Xpeng Motors took five years to achieve similar results. Xiaomi’s pace shows it’s catching up quickly.
Still, Xiaomi trails behind the market leaders. Huawei has introduced its full-scope navigation control assistant (NCA) feature in its new Aito M9, and Xpeng has launched a nationwide solution in its Mona 03, offering unrestricted adaptability across cities, routes, and roads. Xiaomi’s urban NOA, on the other hand, is only available for LiDAR-equipped models in ten cities, with slower progress.
Xiaomi’s newly reorganized department has been tasked with accelerating the expansion of urban NOA while developing both high-end and more affordable configurations. CEO Lei Jun has set an ambitious goal: to push Xiaomi into the top tier of the smart driving industry by year’s end.
Another outcome of this restructuring is the formation of a dedicated team focused on advancing Level 3 and Level 4 autonomous driving technologies.
While Xiaomi is keeping pace with the industry in mass production, the company has a real opportunity to lead in the emerging Level 3 and Level 4 autonomous space.
The industry is increasingly recognizing that E2E smart driving solutions outperform traditional modular systems. By leveraging massive datasets, cloud computing, and large models, automakers are unlocking new levels of smart driving capabilities.
Xiaomi isn’t the first to dive into E2E technology. Earlier this year, Nio consolidated its smart driving teams into a large model group, and Li Auto formed its own E2E autonomous driving department. Xpeng has also reorganized its divisions into E2E development and AI application teams. While Huawei has yet to announce a similar reorganization, it’s already released the third iteration of its advanced driving system, with even more upgrades in the pipeline.
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Traditional automakers are also playing catch-up. BYD has partnered with Huawei to develop advanced smart driving features, and Great Wall Motor has teamed up with DeepRoute.ai to accelerate E2E solutions. E2E technology is no longer just a trend—it’s becoming a defining factor in shaping automakers’ technological leadership, brand perception, and commercialization of smart driving.
Li Auto offers a clear example of how smart driving can impact sales. In its Q2 earnings call this year, the company revealed that nearly 70% of orders for models priced over RMB 300,000 (USD 42,000) were for its AD Max smart driving versions. The company sees E2E solutions, powered by AI, as a direct driver of sales.
For Xiaomi, the stakes are high. With fierce competition in the smart driving space, the company needs to fully embrace the E2E wave to maintain its image as a tech innovator and fuel continued growth.
If Xiaomi can continue refining its E2E smart driving system, the vast amounts of data it collects will drive continuous improvements. By reorganizing its resources around this effort, Xiaomi could significantly extend the capabilities of its E2E solutions. Meanwhile, pre-research into autonomous driving will remain a crucial step toward unlocking the next levels of smart driving.
With Xiaomi all-in on smart driving, the race to scale E2E solutions across the industry is about to get even more intense.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2956902677953927">article</a> was written by Xu Caiyu for 36Kr.

Xiaomi throttles up smart driving development with reorganization

Autonomous Vehicles

Electric Vehicles

Mobility

… from Alibaba’s Tongyi Lab.</figcaption></figure>
<h3>Liepin’s Doris: AI is sending you your next job offer</h3>
The first wave of digital human interviewers is already on the job. Doris, one of Liepin’s flagship products, is an AI-powered interviewer capable of conducting over 400 interviews in just 24 hours.
<figure id="attachment_150130" aria-describedby="caption-attachment-150130" style="width: 420px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-150130 size-full" src="https://console.kr-asia.com/wp-content/uploads/2024/09/Liepin-Doris-Apsara-Conference.gif" alt="GIF showcasing Liepin’s Doris, an AI-powered interviewer tool." width="420" height="237" /><figcaption id="caption-attachment-150130" class="wp-caption-text">Liepin’s Doris could conduct your next job interview, in place of a human interviewer. Graphic source: 36Kr.</figcaption></figure>
Right now, Liepin’s AI interviews feature preset questions alongside an intelligent Q&amp;A system. The AI analyzes an applicant’s resume, picking up details like job changes or average tenure, and adjusts its follow-up questions accordingly.
But not everyone’s sold on the experience. Some candidates reported feeling more anxious during these AI interviews, pointing to the lack of real-time interaction and facial feedback from the emotionless digital interviewer.
Liepin’s team recommends using AI for initial screenings, but they acknowledge that when it comes to hiring top talent, the human touch still plays an irreplaceable role.
<h3>Motiff: Designing user interfaces with a single sentence</h3>
Motiff, China’s leading large model developer for user interface design, is making life a lot easier for designers. What used to take at least a week can now be done in seconds—literally.
All it takes is a sentence. Users just input the type of interface they need, list the components, and add a brief description. In about 20 seconds, Motiff generates two UI design drafts, ready for review.
The real magic is in the details. Motiff’s deep understanding of layout means repetitive tasks—like copying and pasting—have been reduced to a single drag-and-drop action, streamlining the entire process.
<figure id="attachment_150129" aria-describedby="caption-attachment-150129" style="width: 240px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="size-full wp-image-150129" src="https://console.kr-asia.com/wp-content/uploads/2024/09/Motiff-UI-Generation-Apsara-Conference.gif" alt="" width="240" height="300" /><figcaption id="caption-attachment-150129" class="wp-caption-text">Graphic source: 36Kr.</figcaption></figure>
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<h3>And plenty else…</h3>
Beyond robots and digital humans, AI-powered takes on the classic werewolf game were a frequent sight in the frontier tech pavilion.
Giant Network, for instance, has woven an AI-powered werewolf game into its seasonal events on platforms like Douyin and Bilibili. The non-playable characters (NPCs) in this game are relentless. If a player’s statement has even a hint of a logical flaw, the AI-driven NPCs jump on it without hesitation. The round-the-clock availability of these sharp-witted NPCs has led to a tenfold increase in user engagement during Giant’s seasonal events.
Meanwhile, Baibian Dazhentan, a murder mystery game app that launched back in 2018, has integrated AI-powered gameplay using the Tongyi Qianwen model. Players can now engage in voice conversations with AI-driven NPCs, but there’s a catch: the number of dialogue rounds is limited. If you want more interaction, you’ll need to pay—unlocking a key revenue stream for AI-driven murder mystery games.
However, adding AI isn’t a magic bullet for guaranteed success. According to 36Kr, incorporating large models has bumped up technical costs, and finding the right game scripts has become a delicate balance: too complicated, and the AI can’t keep up—too simple, and players lose interest.
In the end, as AI keeps evolving, the challenge for humans will be to keep pace.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2957972394723078">article</a> was written by Zhou Xinyu for 36Kr.

These AI products stole the show at Alibaba’s Apsara Conference 2024

Alibaba Cloud

Deep Tech

Artificial intelligence

Deep Blue Aerospace reached a critical milestone on September 22 when its Nebula-1 rocket lifted off from the spaceport in Inner Mongolia’s Ejin Banner for what is said to be China’s first high-altitude vertical recovery test of an orbital-class rocket. But the mission wasn’t without challenges. As the rocket began its descent, an unexpected glitch with the first-stage booster led to a partial failure, casting a shadow over an otherwise promising performance.
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<video class="wp-video-shortcode" id="video-0-1" width="1920" height="1080" preload="metadata" controls="controls"><source type="video/mp4" src="https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1.mp4?_=1" /><a href="https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1.mp4">https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1.mp4</a></video></div>
Video of Deep Blue Aerospace’s vertical recovery test of the Nebula-1 orbital-class rocket, conducted on September 22, 2024. Video and header photo courtesy of Deep Blue Aerospace.
The test had ambitious goals. Of the 11 key objectives outlined in the test plan, ten were met, with only one falling short.
At the heart of the mission was a crucial test: demonstrating whether the systems required for vertical recovery could work in harmony once the rocket reached orbit. Engineers focused on the transition from multiple engines to a single-engine configuration during flight—a key element in perfecting recovery for future missions.
Nebula-1 isn’t just any rocket. It’s Deep Blue Aerospace’s first reusable, liquid-fueled, orbital-class model built for commercial use. At 3.35 meters in diameter and with a first-stage height of about 21 meters, it’s powered by the homegrown Thunder-R liquid oxygen-kerosene engine—ostensibly China’s first reusable liquid rocket engine. Over 90% of the engine’s components were 3D printed from high-temperature alloys, allowing for quick maintenance and reuse in rapid launch cycles.
Adding to the significance of the test, this was China’s first deployment of an open-cycle liquid oxygen-kerosene pintle engine for high-altitude recovery. The choice of propellants wasn’t arbitrary—liquid oxygen and kerosene offer a balance of efficiency, safety, and cost-effectiveness, making them ideal for reusable commercial rockets.
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Everything started as planned. Nebula-1 ignited its three engines and soared into the sky. Once it hit the targeted altitude, the side engines powered down, and a single engine took over to stabilize the rocket as it continued to climb. After reaching peak altitude, the rocket reversed course, descending smoothly under the control of the single engine. It even maneuvered about 200 meters horizontally before the landing legs deployed as expected. That’s when the problem arose. During the final shutdown phase, something went wrong, causing damage to the rocket’s body.
<figure id="attachment_150123" aria-describedby="caption-attachment-150123" style="width: 720px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-150123" src="https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1-Damage-1024x576.jpg" alt="Photo of the Nebula-1 rocket used in Deep Blue Aerospace’s test." width="720" height="405" srcset="https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1-Damage-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1-Damage-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1-Damage-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1-Damage-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2024/09/Deep-Blue-Aerospace-September-22-2024-Nebula-1-Damage.jpg 1080w" sizes="(max-width: 720px) 100vw, 720px" /><figcaption id="caption-attachment-150123" class="wp-caption-text">Photo of the Nebula-1 rocket used in Deep Blue Aerospace’s test. The rocket sustained damage to its body during the final shutdown phase. Photo courtesy of Deep Blue Aerospace.</figcaption></figure>
Despite the setback, the mission showed promise. The entire flight lasted 179 seconds, and before the anomaly, the deviation from the theoretical landing point was less than 0.5 meters. Nebula-1 still managed to touch down at the center of the recovery field. The overall flight profile followed the expected path, and safety protocols were adhered to without incident.
Initial analysis points to an issue with the thrust control servo during the final shutdown, causing the rocket to land at a higher-than-anticipated altitude, which led to the damage.
Interestingly, Nebula-1’s first-stage booster was only loaded with about one-fifth of its full propellant capacity for this test. Even so, the team demonstrated precise control during vertical recovery under challenging fuel conditions. Deep Blue Aerospace also tested high-precision self-alignment technology that allows the rocket to launch without altering its upright position—an efficiency that could simplify preparations for future missions.
Additionally, the test provided crucial data on an optimal control-based recovery trajectory and a meter-level precision guidance algorithm, setting the stage for future orbital recovery missions.
Looking ahead, Deep Blue Aerospace plans to apply the lessons from this test to address the technical issues. The team is gearing up for another high-altitude vertical recovery mission in November.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2961344281186564">article</a> was written by Huang Nan for 36Kr.
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China’s reusable rocket dream took flight with Nebula-1, but the landing hit a snag

Space Tech

<h3>BNPL platform Qist Bazaar bags Series A funding</h3>
Qist Bazaar, a buy now, pay later platform serving the Pakistani market, has bagged USD 3.2 million in a Series A funding round led by Indus Valley Capital, with participation from Gobi Partners. Bank Alfalah, a banking player in Pakistan, which led the startup’s seed round, also participated.
Qist Bazaar, licensed by the Securities and Exchange Commission of Pakistan (SECP) as a non-banking financial company (NBFC), offers installment-based payment plans targeting unbanked and underbanked consumers.
The company will use the fresh capital to expand across Pakistan, scaling its operations and broadening its product portfolio.
<h3>Doon raises USD 1.5 million in pre-seed round</h3>
<a href="https://www.doon.ph/">Doon</a>, a peer-to-peer car-sharing platform in the Philippines, has raised USD 1.5 million in its pre-seed funding round. The raise includes USD 500,000 in equity from a diverse group of angel investors and a USD 1 million debt facility secured through AHG Lab, Doon’s first backer.
The funds will be deployed to enhance Doon’s platform, hire key personnel, and expand the company’s footprint in key cities and tourist destinations. Doon also partners with Pioneer Insurance to offer coverage for both hosts and renters.
<h3>Mobee raises seed funding to expand used car platform</h3>
Mobee, a platform for used car transactions in the Philippines, Malaysia, and Indonesia, has raised an undisclosed amount in a seed funding round led by Kaya Founders, according to The Independent Investor.
The company plans to utilize the funds to improve transparency and efficiency in the used car market by introducing innovative solutions.
<h3>Satori Giants invests in Supafaya</h3>
<a href="https://www.supafaya.com/">Supafaya</a>, a Philippine-based startup developing a marketplace operating system for content creators, has received an undisclosed sum of investment from Singapore-based venture studio Satori Giants as part of its pre-seed funding round.
Supafaya has already launched its first marketplace, FlipX, and aims to roll out five more by the end of 2024, with expansion planned across Southeast Asia. The company, led by experienced founders in the content creation space, will use the funding to accelerate growth and scale operations.
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<h3>ExceedData, Healius, Footwork, and more led yesterday’s headlines:</h3>
<ul>
<li aria-level="1"><a href="http://www.smartsct.com/">ExceedData</a>, a Chinese company specializing in vehicle-cloud data platforms, wrapped up its pre-Series B round of financing, raising an eight-figure RMB sum. The round was led by BAIC Capital, with continued support from existing investor Shanghai Shique Investment.</li>
<li aria-level="1">Healius, an Australian medical diagnostics firm, struck a deal to offload its Lumus Imaging unit to Affinity Equity Partners for AUD 965 million (USD 659 million).</li>
<li aria-level="1"><a href="https://www.futwork.com/">Futwork</a>, a sales outreach platform, raised INR 210 million (USD 2.5 million) in its Series A funding round led by the Michael &amp; Susan Dell Foundation, with participation from Artha Venture Fund, Simile Ventures, D2C Insider Angels, and Abhishek Goyal.</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: BNPL platform Qist Bazaar bags Series A funding, Doon raises USD 1.5 million, Satori Giants invests in Supafaya, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Philippines

Central Asia

Southeast Asia

India

… and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2959365125853193">article</a> was written by Han Yongchang for 36Kr.

BYD’s Denza targets the premium sedan market with Z9 GT launch

After years of rivalry, it seems the merger between China’s two top game streaming platforms, Huya and Douyu, is only a matter of time.
Sources told 36Kr that Tencent’s investment team has already met with senior executives from both Huya and Douyu to discuss the merger. While no specific dates or details have been confirmed, the deal appears to be drawing closer.
When reached for comment, Douyu stated that there were no plans to merge with Huya and that their cooperation remains strictly business as usual. Huya has yet to respond.
Rumors of a Huya-Douyu merger have been circulating for a while.
In February, reports suggested the two companies were merging, though Douyu denied the claims, stating that their partnership was limited to business cooperation. Huya gave no clear response. Previously, the companies were set to merge under Tencent’s guidance, but the deal was blocked by China’s State Administration for Market Regulation for allegedly violating the country’s anti-monopoly law.
This time around, the situation feels different. As game streaming traffic consolidates around major platforms, a merger between Huya and Douyu seems less about competition and more about survival.
For game developers, live streaming has become both a revenue source and a crucial channel for game promotion.
Tencent’s Huya and Douyu, along with NetEase’s CC, Bilibili, and Douyin’s growing game streaming service, play essential roles. While these platforms don’t generate as much direct revenue as the games themselves, their impact on game traffic and reputation is vital.
Yet Huya and Douyu, once the industry’s leaders, have struggled to maintain momentum as their revenues continue to decline.
In January, Tencent opened up Honor of Kings streaming rights to Douyin. Before that, Zhang Daxian, one of the game’s most popular streamers, had already begun streaming on Douyin. Earlier still, Zhang’s debut on Douyin featured Tencent’s Dream Star. In August, Douyu’s top Dungeon &amp; Fighter streamer, "DNF Yige," also moved to Douyin.
The loss of exclusive streaming rights and key streamers like Zhang Daxian and DNF Yige has weakened what was once Huya and Douyu’s moat.
This decline is starkly reflected in their financials: Douyu’s revenue has shrunk from RMB 9.6 billion (USD 1.3 billion) to RMB 7.1 billion (USD 994 million) over the past three years, while Huya has recorded 11 consecutive quarters of declining revenue. Both companies’ stock prices have dropped by more than half since their 2021 peaks. Once dominant players, Huya and Douyu have fallen far from their former heights.
The struggles don’t end there. Both platforms have faced ongoing turbulence throughout the year. A steady decline in active and paying users has led to reports of controversial content surfacing on both platforms.
Earlier this year, Douyu’s CEO, Chen Shaojie, was arrested on charges related to illegal gambling, sending shockwaves through the company. Meanwhile, Huya’s new chairman, Lin Songtao, announced a strategic pivot, unveiling a three-year plan focused on game distribution, virtual goods, and advertising—an acknowledgment that game streaming alone can no longer sustain growth.
While the revenue potential of game streaming may be limited, these platforms remain indispensable as key channels for content distribution, making them battlegrounds for major players.
In stark contrast to the decline of Huya and Douyu, platforms like Douyin and Kuaishou have rapidly expanded, especially in the gaming space.
Tencent’s decision to grant Honor of Kings streaming rights to Douyin in January marked a turning point, accelerating Douyin’s growth in live streaming.
Li Xiaolong, a Douyin streamer, told 36Kr that, this summer, Tencent gave Honor of Kings streamers extensive support, including quick match join-ins, bonuses, and recruitment programs—key policies that boosted his and his guild’s success.
According to LatePost, ByteDance’s live streaming revenue in China exceeded RMB 130 billion (USD 18.2 billion) in 2022, making it the company’s second largest source of income after advertising. Since mid-2023, Douyin has continued signing major streamers like Feng Timo and Ke Jie, further cementing its position.
Meanwhile, Kuaishou reported RMB 9.3 billion (USD 1.3 billion) in Q2 live streaming revenue—far surpassing the combined earnings of Huya and Douyu. While this includes non-gaming content, Kuaishou has also seen a 50% increase in signed guilds and a 60% increase in streamers compared to last year.
Across the industry, live streaming resources continue to consolidate. Tencent’s Now, which had operated for more than seven years, shut down on December 26, 2023.
Given these shifts, it’s unsurprising that Tencent is consolidating its resources.
In March, gaming media outlet Jingke reported that Huya, Douyu, and Tencent’s WeChat Channels appeared to be collaborating, as a popular Honor of Kings streamer’s content was broadcast almost simultaneously on both Huya and WeChat Channels. While this collaboration has yet to be rolled out on a larger scale, Tencent’s intentions are clear.
Should the Huya-Douyu merger materialize, Tencent will be well-positioned to strengthen its foothold in the game streaming industry.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2955334987590784">article</a> was written by Lan Jie for 36Kr.

Huya and Douyu's rivalry could end in merger as Tencent steps in

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Even after the Biden administration's huge tariff increase on imported Chinese electric vehicles takes effect, some models will remain cheaper than competing American cars, a sign of the deep-set challenges facing Washington's EV policy.
The 100% duty on EVs, announced on September 13 and set to take effect September 27, follows a four-year review prompted by what the Office of the US Trade Representative called unfair trade practices.
The US imports few EVs from China, so the administration's move, part of a broader increase in tariffs on Chinese goods, is largely preventative and meant to buy time for American industry to catch up.
"China's industrial policies targeting electric vehicles could threaten federal investment in the sector," the USTR said in a notice on September 13's actions.
Although the Biden administration has sought to accelerate a transition to EVs with government aid, China retains a wide lead in both production and adoption after a decadelong national effort.
EVs made up more than 10% of US vehicle sales in July, but in China, the ratio was around 50%—well above the global average of about 20%, according to market research company MarkLines.
The US lacks both EV charging infrastructure and models in the mass market price range. Big Chinese automakers like BYD, meanwhile, draw on extensive domestic supply chains that help them compete in a crowded market, offering EVs priced under USD 25,000.
In the US, not even frontrunner Tesla has broken into the sub-USD 30,000 price range. There are no American EVs as cheap as gasoline-powered vehicles yet.
Joe McCabe, CEO of US research company AutoForecast Solutions, said BYD's lowest price in the US is USD 12,000. Even with a 100% tariff, BYD will have the cheapest EV in the market at under USD 25,000.
Chinese automakers do not care about profitability, McCabe said.
The Biden administration is wary of Chinese automakers trying to circumvent tariffs. Even if BYD were to build a factory in Mexico, for example, "it is a Chinese company," commerce secretary Gina Raimondo said at a supply chain summit hosted with the Council on Foreign Relations this month.
Another concern for Washington is the slow progress on cutting reliance on China for batteries, which account for 30% of EV costs.
US imports of Chinese-made batteries totaled USD 6.2 billion in the January-June half. The 2023 figure of USD 13 billion was a roughly a 40% increase from 2022 and a sixfold jump over three years.
Some in the US called on the administration to exempt Chinese-made EV batteries from higher tariffs. But the USTR said it "has determined that the requests to remove particular batteries are inconsistent with the president's direction, which broadly covers all lithium-ion batteries, and are inconsistent with the goals of diversifying supply chains and of reducing our reliance on China in an industry targeted by China for dominance."
The lack of progress in building an EV supply chain is forcing some US automakers to rethink investment plans. General Motors has postponed the start of production at its battery factory in the US state of Indiana by about a year, a project that includes Samsung SDI as a partner.
Japan's Panasonic Holdings has lowered its production target for EV batteries, mainly in North America, by about 30% from the previous plan.
"The reality now is that there is no supply chain in the US for mining and processing battery materials," said a Japanese automobile executive at a North American subsidiary.
China's Ministry of Commerce hit back at the US tariff announcement on September 14, saying, "China will take necessary measures to resolutely defend the interests of Chinese companies."
The tariffs will disrupt global supply chains but not contribute to resolving the trade deficits and industrial competitiveness problems in the US, the ministry said in a statement.
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Chinese-EVs-still-cheaper-than-Teslas-in-U.S.-after-tariff-hike" 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>.

Chinese EVs still cheaper than Teslas in the US after tariff hike

… For example, in the Luxeed S7—equipped with Huawei’s Turing chassis—the comfort braking system significantly reduces body pitch during both acceleration and braking.
The core of the system is the CDC shock absorbers, which adjust the suspension damping in milliseconds to stabilize the vehicle’s body during braking. Springs play a crucial role, too, by hardening at the moment of braking to resist nosedive and damping the rebound once the brakes are released. The key to making this work is the speed and precision of these adjustments.
Traditional mechanical shock absorbers only adjust a few times per second. However, continuous damping control (CDC) shock absorbers can adjust up to 100 times per second, giving cars equipped with them a significant advantage. But tuning suspension systems remains more of an art than a science, relying heavily on experience and rigorous testing.
Suspension layout, vehicle weight, and chassis design all influence the tuning outcome. Poor tuning can even make the problem worse. Only a few companies have both the technology and the expertise to implement CDC shock absorbers effectively. As brake-by-wire systems become more widespread, it’s likely that supplier-developed solutions will dominate the market due to their lower cost and simpler implementation.
Still, safety remains the number one priority. Comfort braking is an auxiliary function meant to improve the driving experience by reducing motion sickness, but it doesn’t replace the driver’s role in braking safely. The key to balancing safety and comfort lies in maintaining good driving habits.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2916754584951429">article</a> was written by Xu Caiyu for 36Kr.

EVs have a jerky problem, literally: Can comfort braking solve it?