China Recap is a weekly roundup tracking Chinese companies expanding abroad, covering market entries, funding rounds, product launches, and global partnerships.
China’s corporate globalization strategy is evolving fast. Industry giants are rewriting the global playbook, while a new generation of companies charts fresh paths overseas.
China Recap tracks both—focusing on strategic expansion, brand building, and localized operations—to help readers make sense of shifting trends and understand how Chinese firms are reshaping their global approach.
Here’s what made headlines last week:
China powers ahead in green and EV tech
- Talent New Energy unveiled its “cold core” battery technology to improve fast charging and thermal management in cylindrical electric vehicle cells. Its 4695 and 50190 series support 6C charging, reaching 80% charge in nine minutes, and operate across extreme temperatures, addressing limitations of the cylindrical format.
- Power prices in China’s industrial provinces have fallen to regulatory floors as coal costs plunge and renewable energy floods the grid. Jiangsu’s rate dropped 24% year-on-year (YoY) while Guangdong saw an 8.3% cut, offering relief to export-heavy industries amid US trade pressure. —Bloomberg
- Marubeni signed its first long-term deal to purchase green ammonia from China’s Envision Energy, sourcing from an Inner Mongolia plant set to start commercial output in late 2025. The Japanese firm aims to supply clients across Northeast Asia as it scales low-carbon fuel offerings. —Nikkei Asia
- Botree Recycling Technologies raised additional Series B funding from the Taiping Science and Technology Innovation Fund to support global expansion and R&D. Building on an earlier RMB 100 million (USD 14 million) investment, the Suzhou-based firm is scaling localized battery recycling projects, including a joint venture in Spain, and advancing tech for efficient metal recovery from EV and storage batteries.
- BYD is partnering with Xiaoju Charging and Xindiantu to co-build 15,000 megawatt-level fast chargers across China, expanding its existing network of over 500 stations and accelerating the nationwide rollout of high-speed EV charging. —Shanghai Securities News
- China accounted for more than 60% of global renewable energy additions in 2024, driven by advances in offshore wind, solar cell technology, and energy storage, according to CREEI. The sector is now shifting from rapid expansion to high-quality development, with grid integration and coordinated planning emerging as key priorities. —CGTN
Ant unveils AI platform for fintech firms
Ant International launched a platform under Alipay+ to help fintech firms build artificial intelligence-native services. The solution supports workflows such as fraud detection, onboarding, and dispute resolution, with client deployments beginning June 2025 in South and Southeast Asia.
Naixue opens in Chiang Mai mall
Chinese tea chain Naixue opened its first store in Chiang Mai, inside Central Festival mall, marking its eighth location in Southeast Asia. Featuring staples and new drinks tailored to Thai tastes, the outlet recorded nearly THB 3.5 million (USD 107,000) in first-month revenue, with daily sales topping 2,000 cups. A New York store is now in the pipeline as it eyes the US market. —Dao Insights
Chagee boosts Q1 sales, but margins narrow
Chagee’s Q1 2025 revenue rose 35.4% YoY to RMB 3.39 billion (USD 474.6 million), driven by a 63.6% jump in store count to 6,681. Net income grew 13.8% to RMB 677.3 million (USD 94.8 million), though net margin narrowed to 20% as same-store GMV fell 18.9% YoY. Operating margin declined to 24.2% amid rising marketing and administrative expenses.
Ningji expands overseas with 15 stores signed
Chinese lemon tea brand Ningji launched an international expansion anchored in Hong Kong, signing 15 overseas stores across Malaysia, Singapore, Australia, and Cambodia. Stores are already open in Malaysia and Cambodia, with three more in key Kuala Lumpur locations expected to open in July. —36Kr
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. Get in touch to share your story.