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… MiniMax Agent, the company’s general-purpose AI system.
While Hailuo focuses on video, MiniMax Agent handles long-horizon, complex tasks. It can deconstruct goals, create expert-level plans, and execute multi-step operations. It’s widely used internally for tasks like coding, building websites, and making presentations.
It understands longform content across text, audio, image, and video. With its model context protocol (MCP) extensions, it supports animations, advertising content, and slide decks.
One demo showed it building an interactive web page about the Louvre Museum, complete with media and engagement features.
Beyond being a productivity tool, MiniMax Agent reflects the depth of MiniMax’s foundation model and multimodal system.
And why should companies building foundation models also build agents? Because they have control over model architecture and training loops. They can create feedback systems that refine performance and reduce costs.
Put simply, model innovation lifts the ceiling. Agents help define the next frontier. The two are interdependent.
MiniMax launched in early 2022, nearly a year before ChatGPT became a household name. Once public attention spiked, many began asking: who is MiniMax?
The answer: a company that has consistently followed its own path.
In 2023, while most of China’s AI market was fixated on dense models, MiniMax allocated more than 80% of its compute to MoE. In early 2024, it launched China’s first MoE-based foundation model.
In January, it open-sourced its lightning attention protocol, altering core transformer architecture in pursuit of new performance gains.
By June, its M1 model had reached second place in global open-source rankings, backed by architectural and algorithmic advances across the board.
Launched alongside it, the general-purpose MiniMax Agent addresses key challenges in AI agent deployment, including multimodality, long-horizon reasoning, task decomposition, and tool coordination.
MiniMax is a company that never seems to tire, that constantly reinvents itself, and that is always chasing the next performance ceiling.
At its core, this drive reflects a belief in the foundation model race’s endgame: that a great business starts with a simple idea, pursued through focused, uncompromising technical innovation.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3360386652817158">article</a> was written by Xiao Xi for 36Kr.

MiniMax finds its “aha moment,” and a way to challenge the AI status quo

East Asia

MiniMax

China

Artificial Intelligence

Deep Tech

Foundation and Large Models

… challenges. Xu noted that traditional automakers often complete their production-to-dealership cycle within 60 days. Once vehicles reach a 4S dealership, the dealer pays the automaker, allowing cash to flow even if the cars are still sitting unsold.
In contrast, direct-to-consumer brands like <a href="/company/xiaomi">Xiaomi</a> may be able to turn over inventory quickly. But companies with weak sales performance face greater difficulty.
“For companies that still aren’t profitable, strictly enforcing 60-day terms could severely compromise their cash flow,” Xu said.
According to a 2018 <a href="https://www.wsj.com/articles/china-has-487-electric-car-makers-and-local-governments-are-clamoring-for-more-1531992601">Wall Street Journal</a> report, China once had over 487 electric vehicle manufacturers. Today, that number has shrunk to around 40.
What began as a price war has devolved into broader uncertainty. The 60-day policy may be intended to restore order, but whether it will lead to a more sustainable ecosystem remains uncertain.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3368561494525705">article</a> was written by Geng Chenfei for 36Kr.

For China’s auto suppliers, a 60-day pledge may still mean waiting months for payment

Transportation

Electric Vehicles

Mobility

… Embodied intelligence spans a wide range of tasks. A robot might master pick-and-place but still be unable to lift a child or help someone stand up.
Each product needs its own metric. To be called intelligent, a robot should reach at least Level 4: autonomous operation, not just functioning as a tool.
Unlike the rapid leap seen with ChatGPT, embodied intelligence is progressing slowly and incrementally.
<h3>36Kr: So the “ChatGPT moment” for embodied AI is still far off?</h3>
WH: Yes. ChatGPT works for general Q&amp;A. Embodied AI faces hurdles in hardware, sensors, and data collection. Many components are still immature. We’re five to ten years away.
Humans rely on more than vision, language, and action. We use hearing, smell, touch, and temperature. Vision-language-action (VLA) models are just the beginning. To achieve human-level embodied intelligence, we’ll need to integrate more modalities.
Right now, the most viable path is perfecting mobile pick-and-place in predictable environments like supermarkets and factory lines. If we can scale that, it will be a huge milestone akin to building a fully automated dark factory.
<h3>36Kr: Are others in the industry aiming for that same milestone, or pursuing different breakthroughs?</h3>
WH: Honestly, not many are doing the hard work. Some just sell hardware or platforms without ensuring end users can solve problems.
Even among those focused on models, most are still doing academic work. Very few are building practical products for real deployment. That lack of responsibility and realism is why the field feels fragmented.
<h3>36Kr: What needs to be done to deploy mobile pick-and-place robots in services like pharmacies and convenience stores?</h3>
WH: Every new deployment requires data prep. Whether it’s synthetic data, small-scale real-world data, or even reinforcement learning in a specific setting, some kind of groundwork is essential for building a product that performs consistently.
We’re not trying to solve every problem at once. We’re starting with grocery and retail shelving and making sure our robots can generalize well in those specific scenarios. Only after that will we scale to more varied environments. It’s a tougher path than most people realize.
<h3>36Kr: Beyond pick-and-place, what’s Galbot’s next frontier?</h3>
WH: Our team of researchers is working on legged robots, dexterous hands, and more. Dexterous manipulation is a personal focus—I’ve won several awards in this area. It's the ultimate challenge in robotic control.
Our strategy is to stay ahead of the curve. Galbot’s mission is to create general-purpose robots that can serve every industry and household.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3350684885707399">article</a> was written by Wang Fangyu for 36Kr.

Galbot’s humanoid robots do the boring stuff, and that’s the point

Robotics

Embodied Intelligence

… AI-assisted video production, and smart customer service solutions. Silicon Intelligence has raised more than RMB 1 billion to date, with earlier investors including <a href="/company/tencent">Tencent</a>, HongShan, CMB International, Qihu Zhongcai, and Oceanpine Capital. —<a href="https://36kr.com/p/3362675516901129">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Monit, GreenTeams, Rebee, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Monit, a Jakarta-based spend management platform, raised USD 2.5 million in a funding round led by Cento Ventures, with participation from Sansan. Existing investors 1982 Ventures and Init 6 also took part.</li>
<li aria-level="1"><a href="https://greenteams.co/">GreenTeams</a>, a climate technology firm headquartered in Singapore with operations across Indonesia, secured an undisclosed amount in a Series A funding round led by the Oriza Greenwillow Technology Fund.</li>
<li aria-level="1"><a href="https://www.rebeehealth.com/">Rebee</a>, a health tech startup based in Singapore, raised USD 1.18 million in seed funding to scale its digital physiotherapy solution. The round was backed by Paragon Ventures I, Seeds Capital, 1337 Capital 1, The LAB9, and C-shark SG.</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: East Ventures invests in Sxored, Shieldbase and Transcelestial raise funding, HeySara enters Hong Kong with ILS acquisition, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Indonesia

Hong Kong

Southeast Asia

… Innovation is slow.
Take a blacksmithing company. They will focus solely on perfecting blacksmithing. They won’t consider entering other fields. That mindset is particularly entrenched in Europe. And if Trump keeps undermining universities and intellectuals, then the next wave of engine electrification might very well start in China.
China has advantages: money, centralized coordination, a massive domestic market, and a mature, low-cost aerospace supply chain. As with EVs, if government support continues, we have the foundation and opportunity to leap ahead and export both products and standards.
<h3>36Kr: Where does China currently stand in global engine competitiveness?</h3>
XK: Everyone has their strengths. We may not match others on raw technical specs. But in terms of delivery capacity and operational execution, we may be stronger.
It’s like this: Americans write great PowerPoint decks. Chinese firms are better at turning those decks into working products. That’s the difference.
<h3>36Kr: For Chinese engine makers to go global, what should they focus on?</h3>
XK: First, engines can’t go overseas alone. They have to be bundled with aircraft. You only get traction when the end product goes global.
Second, you need airworthiness certifications. The Federal Aviation Administration and EASA have strict management protocols. If you want to compete globally, you must understand and respect those rules. Certification isn’t just about time, but also about systematic discipline.
Right now, many Chinese drone makers are thriving in underdeveloped areas of Asia, Africa, and Latin America where infrastructure is weak. There’s huge growth potential abroad. If you want to build a large company, you must go global. But it has to be market-driven, not policy-forced.
<h3>36Kr: What’s the current level of hype in the engine space?</h3>
XK: Very high. Compared to when Falcon started, the competition is now ten times more intense.
<h3>36Kr: Building aircraft and engines involves high barriers. What kind of founders can succeed in this space?</h3>
XK: The bar is extremely high. Most founders today are former chief engineers from within the system. This space isn’t for just anyone. You need deep resource integration skills, strong project relationships, and significant funding. A small team with just some tech won’t make it. There are plenty of cautionary tales.
Plus, this work is grueling. It often comes at the cost of your health. Many top engineers spend a month or more in remote test sites. This isn’t a glamorous gig where you fly around smoking cigars and pitching investors. Founders who don’t get their hands dirty are doomed to fail.
<h3>36Kr: How many startups do you think this market can ultimately support?</h3>
XK: The primary player will always be AECC. Startups will fight for the remaining share. I think four or five companies can survive. It really depends on how large the market becomes.
To make it, your company must be market-oriented and airworthiness-driven. Again: cheap and safe. If you can do both, you’ll live.
<h3>36Kr: What else do private engine companies need to thrive?</h3>
XK: Policy and funding support help. But more than anything, we need patience from the market.
Real support means trust. Give companies the freedom to compete. Let the market decide who wins and loses. That’s the healthiest ecosystem.
<h3>36Kr: Falcon is now in its fifth year. Looking back, would you have done anything differently?</h3>
XK: I don’t think so. Everyone pays the price for their own perspective.
What we’re doing now may not be entirely right. Only when we’re consistently delivering thousands of engines per year can I say with certainty that we’ve found the right path. But from day one, our team has always been risk-aware.
<h3>36Kr: Any advice for aspiring founders?</h3>
XK: If you don’t have enough capital and capability, don’t enter this field. It’s brutal. Just having some market insight isn’t enough. This isn’t a casual bet. It is a life-altering gamble. If success were easy, we’d all be billionaires by now.
<h3>36Kr: What do you want Falcon to be known for? What kind of company are you building?</h3>
XK: Airworthy, low-cost, and domestically controlled.
Our vision is to advance China’s low-altitude aviation sector with domestically produced, airworthy, and cost-effective engines, and to put private Chinese engine firms on the global map.
<h3>36Kr: What’s next on your agenda?</h3>
XK: In the short term: expand the D-series market share, and ramp up G-series deliveries. Ensure stable operations at the Changsha facility and accelerate MRO center readiness. On the market side, we’ll break reliance on imports, grow our domestic footprint, and boost our global share and influence.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3348775476730754">article</a> was written by Liu Jingqiong and A Zhi for 36Kr.

Falcon Aviation eyes liftoff with low-cost, airworthy aircraft engines

… APLA (Asia Pacific and Latin America). Inventory levels showed improvement as well, with Nike reducing its lineup of legacy footwear by over 20% for the year and more than 30% in Q4. In Greater China, inventory dropped 11% compared to the previous year.
Nike aims to clear remaining excess inventory through select channels over the next two quarters, with a goal of restoring full channel health by the first half of fiscal 2026.
<h3>Targeting new segments and emotional engagement</h3>
Nike is investing in emerging growth areas too. Industry observers widely agree that women, children, and outdoor activities remain rare pockets of untapped potential for sportswear brands. The Breaking4 represents Nike’s latest bid to claim leadership in the women’s category.
Historically, women’s distance running has lagged in commercial interest and investment. With this initiative, Nike has placed a world-class female athlete at the center of both its brand storytelling and product innovation, unlocking momentum in a category with vast potential.
In April, Nike also launched the global women’s night run series, the “After Dark Tour,” in Shanghai. Over 3,500 women took part, turning the night into a celebration of performance and empowerment.
Nike continued to build a female-focused narrative during Shanghai Fashion Week in April with the “Victory Lap,” a runway event where athletes, designers, and emerging idols reinterpreted sport through a female lens, fusing function with fashion.
The brand also brought Sabrina Ionescu to China for the first time, where her personal story reportedly resonated with younger female fans. This year, Nike’s women’s basketball business grew by more than 50%.
At the same time, Nike is also tapping into youth culture in China, where emotional resonance often guides purchasing decisions. This quarter, a collaboration with Lego introduced a co-branded collection and interactive retail elements. During the 618 shopping festival, Nike Kids led Tmall’s children’s sneaker and sports categories.
Even before the earnings release, analysts had highlighted Nike’s strong appeal among younger consumers as a potential sign of recovery.
In addition to its focus on women and children, Nike is capitalizing on the growing interest in outdoor apparel. The company recently became the title sponsor of the Chongli 168 Ultra Trail and launched a Nike ACG (All Conditions Gear) training camp to offer runners technical guidance and immersive experiences. The ACG line is gaining traction both globally and in China.
As Nike expands beyond its traditional core, its long-term approach—grounded in innovation, storytelling, and local investment—is paving new paths for growth.
And if the current trajectory holds, Nike may once again defy its doubters. Its legacy, and its spirit of pushing limits, remains central to its strategy. Just as Breaking4 reminds us: dare to dream, no matter how distant the goal.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3363107679471366">article</a> was written by 36Kr Brand.

Nike rallies behind “Sport Offense” strategy after surprise fiscal year showing

Retail

Consumer Economy

… to positive reviews. Within a month, rival brand Aukey released a nearly identical product.
Price competition has since intensified too. Romoss’s 20,000-milliampere-hour, 22.5-watt fast-charging model, which retailed for RMB 129–149 (USD 18.1–20.9) in 2021, dropped to just RMB 69 (USD 9.7) by the end of 2024.
In this race, manufacturers are moving faster than battery technology can safely support. The risk of unstable lithium cells lies just beneath the surface.
“The industry is just too competitive right now. Everyone wants higher power, faster charging, and sleeker designs. But when every parameter is pushed to the limit, failure becomes inevitable,” one insider told 36Kr.
This situation isn’t limited to power banks. According to BusinessPoint, an industrial research firm, China was home to 480,000 mobile accessory companies as of 2024, many offering only minor variations of existing products.
The path forward is well known but difficult: increase R&amp;D investment and target higher-value, technically complex markets. In 2024, Anker and Ugreen spent 8.5% and 4.9% of their revenue on R&amp;D, respectively, and both are increasing that share. These efforts have allowed them to carve out pricing power even in a crowded field. Anker, for instance, is expanding into 3D printing and robotic lawn mowers.
China remains the global hub for 3C electronics manufacturing. But with performance capabilities outstripping actual demand, the industry must find smarter ways to absorb its own output. Without that shift, the cycle of price wars and cascading failures is bound to repeat.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3367635580241920">article</a> was written by Leslie Zhang for 36Kr.
Note: In our initial report, the supplier linked to the battery issue behind Anker’s recent recall was identified as Amprius. A subsequent update, provided by a third party on behalf of Amprius, clarified that the supplier in question is Apex, a battery manufacturer registered in Wuxi. Apex was formerly a subsidiary of Amprius but was spun off in 2022. It is not affiliated with Amprius Technologies, a separate entity also spun off from Amprius in the same year. This article has been updated to reflect the correction.
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China’s power bank crisis: Romoss collapse exposes industry fault lines

Anker

Batteries

Energy

… consumer demand," wrote Armand Meyer and Agatha Kratz from Rhodium Group.
After ratcheting up tariffs on all Chinese goods to as high as 145% in April, the US slashed the rate the following month to 30% for 90 days amid ongoing negotiations with China. That is still significantly higher than existing levies on most other countries, which are subject to 10% duties.
At an exhibition organized by the Indonesian Petroleum Association, Kevin Jiang, a manager from Tianjin Victory Oilfield Equipment Manufacturing told Nikkei that the company is actively seeking to reduce reliance on US demand that makes up half of its buyers.
"Trump's tariff policy has forced the company to look for potential new markets," Jiang said. "Indonesia with its potential natural resources is a promising market for the company."
Rene De Jong, owner of Resysta AV, an outdoor furniture maker, said he does not expect Trump to roll back existing tariffs on China. With factories in Guangdong as well as in Indonesia, he said he is aiming to triple production in Indonesia over time due to the tariff uncertainty.
"Everybody will step into the China-plus-one strategy. That's more valid than ever," he said, "If he [Trump] cancels tariffs tomorrow, do you think people trust him?"
GoldenHome, one of China's biggest kitchen cabinet makers, set up a manufacturing site in Samut Prakan in central Thailand in 2019 in large part to skirt punishing duties imposed on Chinese goods by the US government. The majority of the components, from door panels to hinges and drawer glides, are produced in Thailand rather than sourcing from China, according to Pan Xiaozhen, the company's CEO.
The company unveiled a flagship store in Malaysia last month in part to serve growing demand in the region, Pan said. It has paused further plans to expand in the US after opening its first assembly line in Cedar Hill, Texas in March, he added.
"We may shift more capacity to Malaysia if the country gets relatively lower tariffs from the US," he said.
But not everyone is so gung-ho about Southeast Asia, despite Trump's tariffs.
Gong from Yiwu Sihai Christmas Crafts said he's not looking to relocate production to Vietnam or other countries in large part because overall costs in China remain competitive. While labor is typically cheaper in Southeast Asia, other hurdles remain.
"It's hard to manage local workers. We heard they often refuse to work overtime. Plus, Chinese capital isn't necessarily welcome in many parts of the world," he said.
In Manila, Dee Xie, who sources smartphone accessories like headphones and sells to consumers in the Philippines and Indonesia, said his trading company's profit margin had dropped to less than 20%, nearly half what it was when he first entered the market in 2017.
Production in China remains far more efficient than elsewhere, despite the tariff uncertainty, he added. Most of the components are still supplied by Chinese firms even if the final assembly is done elsewhere.
"Nowhere else can beat the quality of goods made in China," Xie said. "As more Chinese competitors are coming over, we have to distinguish ourselves to survive."
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/ASEAN-Money/Trump-tariffs-shine-spotlight-on-Chinese-targeting-Southeast-Asian-consumers">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>.

Trump tariffs shine spotlight on Chinese targeting Southeast Asian consumers

… Anker Innovations, this may prove to be a pivotal moment in its global expansion. Competing abroad requires more than product exports, demanding embedded resilience across operations, governance, and risk control. That, ultimately, is what separates a local player from a truly global one.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3364321748354819">article</a> was written by Shi Yi for 36Kr.

Anker’s power bank recall puts its lifecycle compliance to the test