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Is Yunfeng Financial becoming Jack Ma’s next Ant Group?

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Pulses

Game Science debuts Black Myth offline store

just now
Jiemian News
Chinese game maker Game Science has opened its first offline retail store in Hangzhou, a 1,000-square-meter, two-story space featuring Black Myth-themed decor, collectibles, apparel, and exclusive items. Fans queued hours before opening, and some limited products sold out on the first day, with resale listings quickly appearing online.

CATL to relaunch 8-series batteries in 2026

just now
KrASIA
CATL is preparing to launch 8-series high-nickel batteries in 2026, reviving a chemistry once sidelined over safety and durability issues. Designed for range-extended and plug-in hybrid vehicles, the packs promise higher energy density and lighter weight than LFP alternatives, but costs and stability challenges could limit widespread adoption.

Ant expands cross-border finance with AI

just now
Bloomberg
Ant International, the Singapore-based arm of Ant Group, is scaling an AI-powered system to forecast foreign currency needs and optimize cash flows. Paired with blockchain-based payments, the tools reportedly processed USD 1.1 trillion in flows last year and are now adopted by clients including AirAsia.

TikTok US valued at USD 14 billion under new deal

just now
CNBC
TikTok’s US operations have been valued at USD 14 billion under a deal approved by President Donald Trump. Oracle, Silver Lake, and Abu Dhabi’s MGX will acquire about 45% of the new joint venture, while ByteDance keeps less than 20% and other investors take the remainder. The terms still require approval from Beijing.

Oracle, partners to take 45% of TikTok US

just now
CNBC
Oracle, Silver Lake, and Abu Dhabi’s MGX will acquire about 45% of TikTok US under a proposed deal that President Donald Trump has reportedly approved by executive order. ByteDance will retain 19.9%, with the remainder held by existing and new investors. Oracle will oversee app security as TikTok avoids a US shutdown under divestiture law.

Xiaomi launches latest flagship smartphone

just now
Bloomberg
Xiaomi has unveiled its 17 smartphone series starting at RMB 4,499, more than USD 100 cheaper than Apple’s iPhone 17. In a live stream, CEO Lei Jun staged head-to-head comparisons with Apple’s device while also highlighting Xiaomi’s EV sales, chipmaking push, and broader effort to rival US tech giants from Apple to Tesla.

Loom Carbon gets backing from SFC

just now
e27
The Singapore Fashion Council has reportedly invested USD 300,000 in Loom Carbon through its TBFI Scale Up accelerator. The climate tech startup is developing modular pyrolysis systems that turn textile waste into circular materials such as renewable oil and bio black, with its first commercial plant planned in Singapore.

Coinbase backs RedotPay in latest round

just now
RedotPay
Hong Kong-based fintech firm RedotPay has raised USD 47 million in a round with new backing from Coinbase Ventures and follow-on investment from Galaxy Ventures and Vertex Ventures. Founded in 2023, the company offers stablecoin-based wallets, cards, and payout services, and now serves about five million users.

Lazada links with Tmall for brand push

just now
Ebrun
Lazada has reportedly linked with Tmall to let merchants easily replicate stores across Southeast Asia, a key step in its brand-focused strategy. Backed by Alibaba’s e-commerce integration, Lazada aims to broaden access to branded goods for the region’s growing middle class, with AI-driven tools supporting localization and logistics.

BYD cuts Qin Plus sedan prices in China

just now
Reuters
BYD is offering RMB 10,000 discounts on select Qin Plus sedans through December, extending earlier cuts across models such as the Tang DM-i and Seal 07 DM-i. The Qin Plus remains one of BYD’s bestselling models, but the move follows four consecutive months of weaker sales in China amid official calls to curb price wars.

Moonshot AI’s Kimi debuts agent mode

just now
SCMP
Alibaba-backed Moonshot AI has introduced “OK Computer,” an agent mode in its Kimi assistant that can reportedly generate websites, slides, and multimedia outputs from prompts while processing up to one million rows of data. The feature is available to users in Hong Kong and overseas but remains in beta on the mainland.

SAMR orders nationwide power bank recall

just now
Jiemian News
China’s State Administration for Market Regulation said Romoss, Anker, and Xiaomi are recalling over 1.35 million power banks after fire incidents earlier this year. Refunds have exceeded RMB 100 million. Romoss, which recalled about 167,000 units, also lost 3C certification for some fast-charging models after earlier campus bans.

Mihoyo wins unfair competition case

just now
Jiemian News
A Shanghai court has ruled in favor of Mihoyo in China’s first unfair competition case involving cheat-assisted game boosting. The defendant, a "boosting studio" operating under the name Yumo, was found to have used cheat software in Genshin Impact services and was ordered to pay RMB 3 million in damages and publish a public apology.

Xpeng patents humanoid robot design

just now
Securities Times
Xpeng has disclosed a patent for a humanoid robot with a movable robotic arm mounted on a bracket and driven by an internal structure. The setup reportedly improves motion range and balances joint placement, making the arm more flexible and its appearance more coordinated, according to the filing.

China’s coffee chains pass 70,000 stores

just now
Yilan Shangye
China added 3,904 coffee chain stores in August across 27 mainstream brands, bringing the total to 70,311, up 215.6% YoY. Nearly 90% of new openings came from Luckin Coffee, Cotti Coffee, and Mixue’s Lucky Cup. Several mid-tier chains slowed or cut outlets, highlighting a widening split in market strategies.

Dreame unit denies forced staff investment

just now
Jiemian News
Empyrean Venture, a Dreame subsidiary, denied reports it forced employees to co-invest, calling the claims baseless and damaging. The firm said participation is voluntary and that it has begun legal action against those spreading false claims. The rebuttal comes as Dreame diversifies into verticals such as smartphones and EVs.

Douyin GMV up 34% as shelf e-commerce grows

just now
KrASIA
Douyin E-commerce’s GMV rose 34% YoY from August 2024 to July 2025, powered by a 49% jump in shelf-based sales, which now contribute about half of transactions. Backed by subsidies, the push has reshaped strategy: Douyin merged its ad unit into e-commerce and shifted RMB 19 billion in subsidies to merchants to cut costs and boost growth.

Chery soars as Hong Kong IPO launches

just now
Nikkei Asia
Chery shares jumped 11.2% in their Hong Kong debut, raising HKD 8.8 billion in the IPO. The Anhui-based automaker canceled its listing ceremony due to typhoon disruptions and said it will exit Russia, its largest overseas market, by 2027.

Beatbot raises RMB 1 billion for expansion

just now
KrASIA
Beatbot, a Chinese robotics company, has raised about RMB 1 billion in a round led by Meituan’s DragonBall Capital, with Hillhouse Capital, Shunwei Capital, Cathay Capital, Source Code Capital, Anker Innovations, Monolith, and Yunmu Capital participating. Founded in 2022, the firm leads China’s high-end online pool cleaner market and will use the funds for R&D, global expansion, and new products such as robotic lawn mowers.

ByteDance denies Hong Kong IPO rumors

just now
Jiemian News
Douyin Group vice president Li Liang rejected reports of a ByteDance listing in Hong Kong, calling them attempts to hype “concept stocks.” The statement came as ByteDance reported Q2 revenue of USD 48 billion, surpassing Meta, while related stocks such as Inmyshow and Inspur saw brief surges.
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