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The Chinese startup has filed for a listing on Shanghai’s STAR Market.

Lower costs and higher utilization are improving unit economics, but not enough to bring the company out of the red.

Bringing you the latest updates on funding and investment activity across the Asia Pacific.

Higher-margin services adjacent to its car business boosted overall results.

Heavy spending on commerce weighed on its margins and cash flow.

Strong results were offset by higher expenses and a warning of increased spending in 2026.

NEV growth and an improved product mix supported the carmaker’s earnings, but profit expansion remained uneven.

A rush to popularize the Western-developed tool has evoked shades of DeepSeek fever.