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… a cash-like, low-volatility option. The Securities and Futures Commission of Hong Kong recently issued upgraded licenses to 40 institutions—including 38 brokerages, one bank, and one internet company—to enable virtual asset trading through integrated accounts. Guotai Junan International was the first Chinese securities firm to secure a full license.
<h3>Who’s betting on stablecoins?</h3>
With the Stablecoins Ordinance about to be implemented, Hong Kong is set to become the first jurisdiction with a formal licensing framework for fiat-pegged stablecoins. The Hong Kong Monetary Authority (HKMA) is expected to name the first licensees between July and August. Sandbox participants will be eligible to apply.
Several companies are already in the queue. Ant Digital Technologies has submitted its application. JD Chain CEO Liu Peng said the firm aims to obtain a license by the fourth quarter. RD Technologies is collaborating with a subsidiary of LianLian DigiTech. Linklogis is partnering with Standard Chartered.
ZA Bank is the first digital bank in Hong Kong to offer services to stablecoin issuers. China Everbright Limited has invested in Circle, which went public on June 5 and is billed as the world’s first stablecoin-focused stock.
Gan Tian, CEO of China Asset Management (Hong Kong), said at a recent forum that his firm is the only mainland-backed asset manager involved in three HKMA sandbox projects. For the stablecoin pilot, the participants are RD Technologies, JD Chain, and Standard Chartered. His firm is working with one issuer to submit a cash management plan to the HKMA.
Gan also identified the most active banks in Hong Kong’s tokenized payments space as Ant International, Standard Chartered, HSBC, Deutsche Bank, and ANZ. He noted that banks from mainland China have yet to join the fray.
“Among global commercial banks, Standard Chartered is the most invested in Web3,” he said. “It already has custody businesses operating in Luxembourg, Dubai, Singapore, and Hong Kong. HSBC, Deutsche Bank, and ANZ are quickly following.”
Looking ahead, Gan said that the global currency system could eventually coalesce around a few major stablecoins, though this will depend on the maturity of supporting financial and trade ecosystems.
Hong Kong’s stablecoin initiative, he added, may not only create a new path to internationalize the Chinese yuan, but also reshape the very foundation of global financial infrastructure.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3360263589086983">article</a> was written by Wang Hanyu for 36Kr.

Hong Kong’s stablecoin regime takes shape as China eyes alternatives to dollar-based payments

Fintech

Blockchain

Payments

Cryptocurrencies

Hong Kong

China

Softopia, a Chinese brand known for collectible plush toys, has accepted external funding for the first time, securing investment exclusively from China Literature. According to information obtained by 36Kr, the transaction grants China Literature a 10% equity stake in Softopia, making it the company’s only outside investor.
Softopia is owned by Hangzhou-based Imou, which specializes in plush toy manufacturing and brand management. This deal marks the first publicly disclosed funding round in China’s vertically integrated plush toy sector that involves a mainstream institutional investor.
Public records indicate that Softopia began as a supply chain company focused on plush toys and operated its own manufacturing facilities. It has long provided end-to-end plush product solutions for international sports events, global IP holders, and leading domestic brands.
The company has developed a distinctive approach by blending the plush toy format with diverse materials. Its offerings include plush blind boxes, premium plush figures, and vinyl plush dolls—a category currently gaining traction. Softopia combines in-house design capabilities with expertise in advanced plush manufacturing techniques. It has developed original IPs such as Cino, Adou, and Alber, several of which ranked among the bestselling collectible toy IPs in 2024.
A source familiar with China Literature’s plans said the two companies will deepen collaboration around original IP for collectibles. The partnership will go beyond adapting China Literature’s existing IP and include the joint development of entirely new properties. “A new product line is expected to launch later this year,” the source said.
The investment aligns with China Literature’s broader push to expand its merchandise business. In recent years, the company has pursued IP commercialization through a mix of in-house initiatives and targeted investments. The Softopia deal enhances its presence in the IP merchandise market and marks the start of a deeper strategic relationship.
China Literature has also introduced its own merchandise label, Yuewen Wonderland, which offers soft collectibles, trading cards, figurines, and other items. The label currently operates stores in Xi’an, Hangzhou, Beijing, Nanchang, Shanghai, Hefei, and Chongqing. New locations are under development in Guangzhou, Shenzhen, Wuhan, Chengdu, and Nanjing.
In 2024, China Literature’s merchandise segment recorded a gross merchandise value (GMV) of more than RMB 500 million (USD 70 million), a new high. Major IPs such as The King’s Avatar, Joy of Life, Lord of the Mysteries, Under One Person, and Fox Spirit Matchmaker all contributed significantly to revenue.
To scale production and expand its product catalog, China Literature has increased its investments in collectible toy firms. Its collaboration with Softopia has already resulted in a plush collection centered on an “Island Party” theme. Additional co-branded items tied to IPs like Lord of the Mysteries, The King’s Avatar, and Under One Person are currently in development.
According to a research report on pop toy industries cited by 36Kr, mainland China’s collectible toy retail market is expected to reach RMB 110.1 billion (USD 15.4 billion) by 2026, with a compound annual growth rate (CAGR) of about 24%.
Situated upstream in the IP value chain, China Literature is leveraging its merchandise business to tap into high-growth segments such as plush collectibles and trading cards. Earlier this year, the company formally declared IP commercialization a central focus for its overall strategy.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3360069972641544">article</a> was written by Wang Yuchan for 36Kr.

Softopia secures first external investment through China Literature deal

Consumer Economy

Top Chinese telecommunication equipment suppliers Huawei Technologies and ZTE are stepping up marketing of their <a href="/industry/ai">artificial intelligence</a> services in Belt and Road countries as the US tightens sanctions targeting Chinese technology companies.
Huawei deputy chairman Eric Xu, now serving as rotating chairman, delivered a pitch on June 18 in a keynote address at the MWC Shanghai industry exposition.
"We're ready and willing to work together, helping carriers explore opportunities unique to them and carve out the right pathways to long-term, sustainable growth," Xu said.
Huawei has been barred from multiple Western countries on concerns over data security and other risks. In response, the company has been expanding business in the Global South and offering artificial intelligence services there.
Such countries often face steep hurdles in developing AI, and many of them overlap with China's cross-border Belt and Road infrastructure initiative.
Several private Malaysian companies have exchanged memorandums of understanding with Huawei to make use of the Chinese company's AI, the Malaysian government announced in April. A major logistics company will incorporate AI into warehousing and supply chain operations, for example, and an information technology company will use AI to develop an <a href="/industry/e-commerce">e-commerce</a> and customer loyalty platform.
Uzbekistan, with its strong political ties to China, is also turning to Huawei. The Central Asian country has set a goal of growing its AI-based software and services sector to USD 1.5 billion by 2030. A digital government cloud at the heart of this plan was built using Huawei technology.
In Uzbekistan's capital of Tashkent this May, Huawei announced an AI data center strategy that will help realize the government's objectives. Data centers are not just infrastructure, but national assets that power economies and innovation, said a Huawei executive at the event.
Huawei invests more than USD 140 million annually in AI data center R&amp;D, and the company has many data centers in China and abroad. Partnering with Chinese companies, which offer low costs, is an attractive choice for countries with little technological buildup.
Annual global AI infrastructure investment, mainly in servers, will swell to USD 223 billion in 2028, according to US research firm IDC. The US is currently the largest market, but other regions are set to gain larger shares.
IDC projects the Chinese market's average annual growth rate at 35% in the five years through 2028, compared with 34% for the US and 21% for the Asia Pacific region and for Europe, the Middle East, and Africa. Chinese companies will focus on capturing the growing demand in Belt and Road countries.
ZTE signed a memorandum of understanding with Malaysian telecom giant CelcomDigi in March to use AI to improve the quality of communications services.
In May, ZTE announced a partnership with major Southeast Asian telecom company XLSmart Telecom Sejahtera. The tie-up covers multiple areas, including 5G network development. ZTE conducted a proof-of-concept trial of new technology in June with a major telecom company in the United Arab Emirates.
ZTE chief development officer Cui Li said at MWC Shanghai that the company will work with global partners to advance the spread of AI step by step.
For Chinese players, cost is the biggest competitive advantage.
Chinese companies can use their buying power to procure equipment at low cost from domestic supply chains. They also have expertise in setting up base stations, for example.
Huawei held the top global share in telecom equipment revenue in 2024, at 31%, according to research firm Dell'Oro. This was more than double the share of either Sweden's Ericsson or Finland's Nokia. Huawei and ZTE together had more than a 40% share. The strategy is to profit from AI-related businesses, using 5G communications and cloud services as the foundations.
Huawei is developing its own chips, which are key to AI servers. The US announced tighter restrictions on AI chips in May, issuing guidance that using certain Chinese-made chips risks violating US export controls.
Huawei founder and CEO Ren Zhengfei responded in an interview with state media People's Daily that the US "overstates our achievements—we're still one generation behind in single-chip performance."
Ren emphasized the need for investing resources to catch up. But <a href="/company/nvidia">Nvidia</a> CEO <a href="https://asia.nikkei.com/Business/Tech/Semiconductors/Nvidia-CEO-says-US-export-controls-on-AI-chips-are-a-failure2">Jensen Huang</a> has said Huawei will benefit from US export controls, echoing a widely held view.
This article first appeared on <a href="https://asia.nikkei.com/Business/Technology/Artificial-intelligence/Huawei-and-ZTE-take-AI-to-Belt-and-Road-shrugging-off-US-sanctions">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>.

Huawei and ZTE take AI to Belt and Road, shrugging off US sanctions

East Asia

Artificial Intelligence

Deep Tech

… 6.75 for a single cup. “In a city like New York where coffee options are everywhere, price really determines whether we step in or walk past.”
<figure id="attachment_155248" aria-describedby="caption-attachment-155248" style="width: 480px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-155248" src="https://console.kr-asia.com/wp-content/uploads/2025/07/Luckin-Coffee-New-York-Promotion.jpg" alt="" width="480" height="360" srcset="https://console.kr-asia.com/wp-content/uploads/2025/07/Luckin-Coffee-New-York-Promotion.jpg 1280w, https://console.kr-asia.com/wp-content/uploads/2025/07/Luckin-Coffee-New-York-Promotion-720x540.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/07/Luckin-Coffee-New-York-Promotion-1024x768.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/07/Luckin-Coffee-New-York-Promotion-768x576.jpg 768w" sizes="(max-width: 480px) 100vw, 480px" /><figcaption id="caption-attachment-155248" class="wp-caption-text">Photo source: 36Kr.</figcaption></figure>
Beyond pricing, Luckin also faces regulatory friction around its app-based model.
The company was designed for digital ordering and in-store pickup, but that approach faces limitations in the US. Since late 2020, New York has banned cashless-only businesses. Cities such as San Francisco and Philadelphia have similar regulations.
“US laws prioritize equal access to commerce for seniors and the disabled,” the Wefood consultant said. “If someone can’t use a smartphone or needs help at the counter and doesn’t get it, the store risks legal action or shutdown.”
She noted that Luckin’s app requirement frustrated some visitors. “People walked in, realized they had to download an app and enter a phone number, and just left unhappy.”
Her advice to Chinese brands eyeing the US: rethink the default playbook. “What works in China isn’t gospel here,” she said. “Especially for experienced founders, there’s a temptation to stick with what worked at home. But it might not hold up.”
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3361309830055942">article</a> was written by Xiao Sijia for 36Kr.

Luckin Coffee tests the waters in the US with two New York stores

Luckin Coffee

Retail

Coffee

… straight through to midnight.
Sometimes, someone blasts rock music out of nowhere. Lately I’ve been playing Queen.
<figure id="attachment_155210" aria-describedby="caption-attachment-155210" style="width: 480px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-155210" src="https://console.kr-asia.com/wp-content/uploads/2025/07/Bonjour-Office.webp" alt="" width="480" height="270" srcset="https://console.kr-asia.com/wp-content/uploads/2025/07/Bonjour-Office.webp 1280w, https://console.kr-asia.com/wp-content/uploads/2025/07/Bonjour-Office-720x405.webp 720w, https://console.kr-asia.com/wp-content/uploads/2025/07/Bonjour-Office-1024x576.webp 1024w, https://console.kr-asia.com/wp-content/uploads/2025/07/Bonjour-Office-768x432.webp 768w, https://console.kr-asia.com/wp-content/uploads/2025/07/Bonjour-Office-480x270.webp 480w" sizes="(max-width: 480px) 100vw, 480px" /><figcaption id="caption-attachment-155210" class="wp-caption-text">The Bonjour team works out of a two-story residence in Liangzhu. Photo source: AI Now!</figcaption></figure>
<h3>AN: Sounds like you’ve built a little startup utopia.</h3>
Vincent: It is, in a way. We all live here. Nobody really goes home. There’s no hard line between work and life. This is home and our workplace.
One of the devs cooks sometimes, when he’s in the mood. Otherwise, we eat out. Liangzhu’s small, so everything’s close.
<h3>AN: Do you think this lifestyle is sustainable? Can it last?</h3>
Vincent: I’m not sure. Maybe one day we’ll have an office. But I don’t think we’ll ever do the nine-to-five punch clock thing. That’s not us. What matters is doing work we really care about.
Compared to my last startup, the team now is much more stable. We’ve got clearer direction, and stronger belief. That’s partly because I explained the vision early. We all know this matters. We’re not just grinding for nothing.
And the users help, too. People love what we’re building. We get constant feedback, encouragement. That energy keeps us going every day.
<h3>AN: Doesn’t the “pirate ethos” clash with having an office? Pirates don’t clock in and out.</h3>
Vincent: Exactly. Steve Jobs said that being a “pirate” is about breaking rules and winning with less. That means always putting your very best into your product, no matter how you get there.
<h3>AN: From age 15 till now, what’s the biggest thing Jobs has taught you?</h3>
Vincent: His answer to one interview question stuck with me. Someone asked how he knew when something was right. He didn’t say “user feedback” or “tech feasibility.” He said: taste.
He said the reason the Mac succeeded was because the people who built it were also the best poets, musicians, zoologists, and historians, and they just happened to be elite computer scientists too. Even if they hadn’t built computers, they would’ve created something beautiful somewhere else.
So Mac’s greatness came from blending the very best parts of the world into the product.
That really struck me. To me, taste isn’t about style. It’s a sensitivity to recognizing what’s great, and the willingness to craft it into your work.
We try to do the same with Bonjour. We borrow Apple’s design language, WeChat’s account infrastructure. We shamelessly steal all the best stuff.
Like Picasso said: “Good artists copy. Great artists steal.”
whereRelatedArticle
<h2>Quick takes</h2>
<h3>AN: What’s the most shocking thing AI has done in 2025?</h3>
Vincent: For a while, I felt like progress had plateaued. Nothing matched the thrill of GPT-4’s initial launch. But then <a href="/company/deepseek">DeepSeek</a> emerged, and we saw a dramatic leap in reasoning capabilities. That was genuinely exciting. For people building on top of AI, these foundational advances feel like rays of hope.
<h3>AN: What’s one thing in AI you didn’t believe in at first, but have since changed your mind about?</h3>
Vincent: I used to think text-to-image apps like Miaoya were kind of gimmicky. I didn’t see real use cases. But then I saw people using them to take professional ID photos. That’s a real, practical use case.
It made me realize that AI’s value often shows up in the most unexpected cases.
Now I think the real moat in AI isn’t the tech itself, but whether it can make users feel genuinely understood.
<h3>AN: Do you have any contrarian takes on AI?</h3>
Vincent: I believe that context will become the most valuable asset in the future. Right now, everyone is competing for user data. But in the future, they will be fighting over something more powerful: the right to understand your context.
Imagine this: every person will have a local “context warehouse” that stores their interaction history, preferences, and habits. Only when you trust a service will you allow it to access that warehouse.
That’s true user sovereignty. Like keeping your money in a bank, but never giving up control.
<h3>AN: What are you most looking forward to in 2025?</h3>
Vincent: Definitely the collaboration between Jony Ive and <a href="/company/openai">OpenAI</a>. That’s something worth getting excited about. Beyond that, I hope we see a breakout of innovation at the application layer.
<h3>AN: Name three books that influenced you the most.</h3>
Vincent: First has to be “Steve Jobs” by Walter Isaacson. I’ve read it many, many times.
Second is Allen Zhang’s compilation on the product philosophy behind WeChat. I reread it every year.
Third is “Build” by Tony Fadell. That book is basically my “startup bible.” Fadell was the father of the iPod and a key part of the iPhone team. He wrote in detail about how disruptive products are built from zero. Like how the idea for a touchscreen started even back in the iPod days. That book made me realize real innovation is born from obsessing over user experience.
<a href="/collections/100-ai-creators">100 AI Creators</a> is a collaborative project between AI Now! and KrASIA, highlighting trailblazers in AI. Know an AI talent we should feature? <a href="mailto:ainow@kr-asia.com">Reach out to us.</a>

Inside Bonjour, a Chinese startup creating the “Upwork of the agent era”

Header image source: Agebox.
Over the past decade, growth hormones have gained ground as a common option for parents aiming to support their children’s height development, often considered alongside calcium supplements, exercise, and adequate sleep. However, these hormones are tightly regulated medications with specific usage criteria. In today’s height-conscious culture, these constraints are becoming more apparent.
In response, new entrants have surfaced in the consumer healthcare space, targeting children who do not meet the clinical criteria for short stature but still aspire to grow taller. One such company is Agebox, a US-based brand whose leading product is iKids-Growth, an IGF-1 growth factor sensitizer. Since launching in China in late 2022, the product has been used by over 40,000 children and maintains a reported repurchase rate of 70%. The local team has grown from a few dozen to several hundred employees.
In a recent interview with 36Kr, Agebox’s Asia Pacific head Ryan Luo and product specialist Ben Wang discussed the company’s trajectory and its role in the height-growth market.
Luo noted that understanding this market requires distinguishing between user segments. Conventional height growth treatments focus on children whose predicted adult height falls below the third percentile (P3)—approximately 161.3 centimeters for boys and 150.4 cm for girls.
Still, Luo emphasized that children above the P3 threshold may also have legitimate aspirations. “It’s more of a pursuit of quality of life,” he said, suggesting that increased height can influence future outcomes in areas like employment and relationships.
Agefu is aimed squarely at this broader demographic. “We analyzed data from more than 40,000 users in China over the past two years. Most of our users fall between the P3 and P75 range, with a median at the 25th percentile. That tells us we’re on the right track.”
The product’s formulation is designed to extract active compounds from food to enhance the body’s sensitivity to IGF-1, a hormone key to bone development. According to the company, this enables height gain in a controlled and evidence-based manner.
Wang explained the underlying biology: the body’s GH–IGF-1 axis regulates physical growth. After the pituitary gland releases growth hormone, the liver produces IGF-1, which then stimulates cartilage growth at the ends of bones, facilitating skeletal development.
iKids-Growth aims to enhance this process in two ways: by increasing the number and responsiveness of growth hormone receptors on liver cells, thereby boosting IGF-1 production, and by improving the sensitivity of cartilage cells in the growth plates to IGF-1. This dual mechanism is intended to support healthy growth without compromising a child’s long-term development.
“Our R&amp;D philosophy is to use food-grade ingredients to deliver clinically effective outcomes. We apply pharmaceutical-level efficacy standards in developing dietary supplements,” Wang said.
Agebox has initiated six clinical studies in China to assess the efficacy of its IGF-1 sensitizer. These studies span 45 institutions and include participants with rare conditions like Silver-Russell syndrome, as well as children who are not clinically short but exhibit slow or delayed growth.
“We want Agebox’s products to solve real problems,” Wang said. “Frankly, many height growth products on the market lack clear mechanisms or clinical backing. Some are little more than placebos. China doesn’t need another placebo. Clinical research is the best way to show whether a product actually works.”
Despite limited investment in traditional advertising, the product has gained visibility. “We believe that the clear demand and tangible results speak louder than advertisements,” Luo said. “There are many height growth products on the market, but most fail to significantly improve a child’s height SDS (standard deviation score) when used within safe dosage limits.”
A product that can safely enhance IGF-1 efficiency through the body’s natural growth pathways, without accelerating puberty or limiting future growth, has a clear value proposition.
Agebox’s expansion in China began with small-scale trials involving employees’ children, followed by the launch of its first clinical study and broader distribution in May 2023.
“We’ve avoided traditional consumer marketing. Instead, we’ve focused on scientific validation through cell studies, animal trials, clinical research,” Luo said. “On the user side, we partner with height management institutions, content creators, private networks, and premium maternity retailers. Our goal is to establish a new mindset among parents: injections for P3 and below, Agebox for P3 and above.”
China marks Agebox’s first major market outside the US, but the company plans to expand to Japan, South Korea, and Southeast Asia in 2025. Luo said demand for height growth solutions is particularly strong in Asia, where dietary supplements are widely accepted. In South Korea, for example, some treat height improvement as part of medical aesthetics.
Although iKids-Growth was only launched in the Asia Pacific in 2022, Agebox was founded in 2009 in the US. It developed a phenotypic drug discovery (PDD) platform using primary cells, particularly for conditions involving multiple biological pathways, such as endocrine and neurological disorders.
The PDD platform generates biodata by analyzing how dietary extracts affect cellular activity and metabolic functions. With this data, Agebox has formulated more than 50 targeted supplements.
In addition to its IGF-1 product, Agebox is also developing supplements for managing uric acid levels in children and supporting those with autism spectrum disorder.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3352612520243844">article</a> was written by Hu Xiangyun for 36Kr.
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Growth for all: Agebox’s IGF‑1 sensitizer is designed for kids above clinical thresholds

Biotechnology

… direct-to-consumer (D2C) sites.
Each channel serves different consumers. Specialty dealers like SiteOne and John Deere account for 35 percent of sales, offering high-end models priced above USD 2,500, with tailored installation and after-sales support.
Big-box retailers such as Home Depot and Lowe’s make up 40% of the market. These stores stock midrange mowers priced at USD 800–1,500 and draw DIY buyers with seasonal discounts of up to 25 percent.
Online sales make up the remaining 25% and are growing. Amazon has created a dedicated category for robotic mowers, while D2C platforms help brands drive traffic and brand recognition.
One manufacturer noted that ideally, US sales should be evenly split between online and offline. But on Kickstarter, 90 percent of their revenue still comes from e-commerce, with minimal offline presence.
“High-ticket items like robotic mowers require long-term service and customer trust. US retailers won’t take on unknown brands lightly, and if they do, it comes with high listing fees. That’s why cross-channel marketing is essential right now,” the person said.
Segway-Ninebot and Dreame are ahead in this regard. Both have partners in North America and Europe, with some distributors proactively requesting product trials.
Xu Peng, Segway-Ninebot’s vice president and board secretary, told 36Kr the company is leveraging its existing Segway brand recognition. It is working with US influencers and lawn care creators to produce demo videos and hands-on reviews.
The partnership with Lowe’s will begin with online sales and expand to physical stores.
“Breaking into the US market takes time. But once users are educated, we believe the long-term opportunity here is even bigger than Europe,” Xu said.
In April, Segway’s Navimow topped Amazon’s bestseller list in Germany.
Agilex has introduced clear price tiers within its Luba line for different lawn types. As of the first quarter of 2025, two Luba models ranked first in robotic mower categories on Amazon in Germany, France, and the US. The Luba 2 AWD 10000H alone generated over USD 4 million in monthly US sales within a month of launch.
Dreame’s robotic mower business remains Europe-focused, capitalizing on its vacuum cleaner distribution network. In the US, it uses online campaigns to drive traffic to retail partners.
“Dreame’s strength is in supply chain execution,” an industry insider said. “They are fast to ship and adapt, which gives them an edge in retail rollout.”
As competition heats up, distribution partnerships are becoming harder to secure. A growing consensus is forming: companies that lock in strong retail channels early will have the best chance of building regional dominance.
That spells trouble for startups. Product innovation alone will not be enough. They must scale their distribution quickly. With peak mowing season approaching, the window to act is closing. In this race, speed may be the deciding factor.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3339191106713609">article</a> was written by Huang Nan for 36Kr.

US lawns are the next big play for China’s robotic mower brands

Robotics

… improvements in legroom and headroom, and its rear seats recline up to 135 degrees. But the long hood and sloped rear compromise trunk depth and height.
Other feedback came from shorter drivers.
A female customer around 160 centimeters tall noted the hood and dark trim beneath the windshield obstructed her view. “I can see if I raise the seat, but then I can’t reach the pedals comfortably. The SU7 didn’t have this issue.”
With a small trunk and suboptimal ergonomics for some, the YU7 trades utility for aesthetics. It may suit urban commuters more than families.
That opens the door for rivals.
In July, <a href="/company/li-auto">Li Auto</a> will launch the six-seat Li i8, followed by the five-seat i6 in September, which targets the same segment as the YU7.
Leaked images of the i6 suggest Li Auto is prioritizing family needs: a shorter hood for better visibility, and a boxier rear for improved storage.
Just as crucially, Li Auto has built up a reputation and strong brand affinity among families, giving its EV lineup an advantage with the largest buyer demographic in China’s car market.
As demand for the YU7 intensifies, the electric SUV market is entering a more complex phase. What began as a wave of launch-day excitement is now evolving into a broader contest across user preferences, pricing strategies, ownership experience, and production capacity.
Tesla remains the leader, supported by brand loyalty and consistent delivery. Xpeng, HIMA, and others are tweaking prices to regain momentum. Meanwhile, Li Auto is preparing a targeted push with the i6 in September, aimed squarely at the family segment that Xiaomi has yet to capture.
Ultimately, the winners will be those who can interpret consumer needs accurately, scale production without missteps, and continue advancing technically while keeping costs in check.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3357878854715141">article</a> was written by Xu Caiyu for 36Kr.

Xiaomi’s YU7 preorder frenzy signals a new phase in China’s EV race

Transportation

Electric Vehicles

Mobility

On June 30, <a href="/company/dji">DJI</a> launched its latest delivery drone, the FlyCart 100 (FC100), designed for heavier payloads, faster charging, and improved safety and intelligence. The FC100 introduces two modular payload systems, third-party compatibility through DJI’s Payload SDK (PSDK), and enhanced application support, aiming to raise the standard for professional aerial delivery across various industries.
Purpose-built for complex, all-weather transport missions, the FC100 is targeted at use cases including emergency response, firefighting, power utilities, engineering, logistics, and maritime environments. It follows the debut of the first-generation FlyCart 30, which was introduced in August 2023.
Key upgrades in the FC100 include a higher payload capacity. In single-battery mode, it can carry up to 80 kilograms, up from 30 kg in the FC30. In dual-battery mode, payload increases from 40 kg to 65 kg at sea level. At 3,000 meters, it maintains a capacity of 70 kg in single-battery mode and 50 kg in dual-battery mode. Both models have a maximum flight altitude of 6,000 meters, with a vertical ceiling of 1,500 meters.
The FC100’s aerial winch systems reflect user feedback and operational demand. It now offers two dedicated configurations: a flagship winch version and a simpler dual-battery version.
The flagship model features a 30-meter retractable cable, a high-torque reel system with a hoisting speed of 1.2 meters per second, an active hook, real-time weight sensing, emergency cable detachment, and snag-free retrieval. The dual-battery version, designed for open-field operations, omits the reel system. It enables low-altitude delivery, with ground crews manually unloading cargo. This version retains weight sensing, automatic swing suppression, and a one-button circuit breaker. Compared to the FC30, the winch system is a complete redesign with dual motors, longer internal cable, greater power, faster lift speed, and a new active hook. The two winch systems are not interchangeable.
For obstacle detection, the FC100 builds on the FC30’s radar and stereo vision setup by adding LiDAR (light detection and ranging), millimeter-wave radar, and a quad-vision system. The LiDAR sensor generates denser point clouds for improved 3D terrain mapping. The quad-vision system boosts environmental awareness, while millimeter-wave radar has been refined for better precision. With a maximum takeoff weight of 149.9 kg, nearly 60% more than its predecessor, the FC100 also features a redesigned parachute system that can safely deploy from 80 meters and limit touchdown speed to under seven meters per second. Additional safety improvements include cargo avoidance, low-altitude restrictions, and augmented reality overlays that highlight nearby people and vehicles.
The FC100 uses a 41 ampere-hour battery and supports three charging methods, including fast charging to reduce downtime. It maintains hot swap functionality and offers optional battery insulation for cold weather operations.
Image transmission has been upgraded to 20 kilometers via DJI’s O4 protocol, with added support for 4G-enhanced transmission and signal relays for obstructed areas. Dual-operator control remains available, offering greater flexibility across use cases.
A new delivery app provides guided loading and unloading points, multi-angle assisted views, and automated point-to-point delivery. DJI’s DeliveryHub platform supports global operations management and third-party video integration. The drone is also compatible with the PSDK E-Port Lite, which opens access to a 3,000-watt interface and allows cloud-to-cloud system integration.
DJI is stepping up its international deployment of transport drones. In high-uptake markets such as Japan, the US, South America, and Europe, the company is piloting low-altitude logistics networks that focus on efficiency and safety through advanced technology.
Broadly, global use cases include mountain construction, utility work, firefighting, and emergency transport.
“DJI continues to meet industry demands with technical innovation. Over the past two years, transport drones have become indispensable in rescue missions, highland power work, and engineering logistics, gaining strong validation from professional users,” said Zhang Xiaonan, DJI’s senior director of corporate strategy and spokesperson.
“With the new FC100, we’ve prioritized payload, endurance, and safety while introducing a more flexible winch system. We hope more users can benefit from enhanced efficiency, safety, and adaptability in aerial delivery.”
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3358711080257544">article</a> was written by Peng Xiaoqiu for 36Kr.

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