T. K. Lin

MiniMax and Zhipu, part of the cohort, have already entered the public markets.

The release could shorten development cycles for 3D environments.

Keeta is gaining traction in international markets as the company ramps up investments in AI and retail initiatives.

Adoption was strong during the campaign, but it remains unclear if user behavior will persist after incentives fade.

Low EV profits obscure a broader push to expand globally, adapt to local demand, and build long-term positions abroad.

Increased spending on supply chains and merchant support also weighed on its 2025 results.

Heavy reliance on Labubu and “The Monsters” franchise weighed on investor sentiment after the latest report.

The company leaned on cost reductions to deliver a full-year profit.

The segment accounted for more than 70% of revenue in 2025, even as higher infrastructure costs pressured margins.