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News ImageChinese AI giants pivot toward proprietary models to drive revenue, performance

Chinese companies including Alibaba Cloud and Zhipu AI have opted not to open-source some of their latest artificial intelligence models as they look to capture the full value of their usage through official revenue generating channels. While none of the companies have said that they are moving away from their open-source strategies, the development reflects an industry trend where the most powerful models are growing in size, making them increasingly difficult to host on local hardware. This...

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News ImageAnthropic’s AI code leak ignites frenzy among Chinese developers

Less than a year after US artificial intelligence start-up Anthropic called out China as an “adversarial nation” and vowed to restrict the country’s access to its technologies, the company inadvertently released coding secrets, triggering a frenzy among Chinese developers. The leak occured after an Anthropic employee accidentally included the modified source code of Claude Code, the company’s sensational AI coding tool popular among developers worldwide, in a file within a software package...

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News ImageOpenClaw deepens China footprint through native Tencent, ByteDance integrations

OpenClaw, the open-source autonomous artificial intelligence agent, is stepping up efforts to tap into China’s user base as it works more closely with Chinese tech giants including Tencent Holdings and ByteDance. A version update of OpenClaw released on Tuesday included Tencent’s QQ, making the long-standing messaging app the first Chinese social media platform to be natively integrated with OpenClaw’s official platform. QQ bot, a versatile bridging service that connects the popular messaging...

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News ImageCountdown starts for Chinese rocket maker CAS Space as it sets course for Star Market

CAS Space, a leading Chinese commercial rocket maker, has filed for a listing on Shanghai’s tech-focused Star Market, joining a growing queue of private space companies seeking capital as Beijing steps up support for the sector. Founded in 2018 and incubated by the Institute of Mechanics under the Chinese Academy of Sciences, the start-up plans to raise 4.18 billion yuan (US$600 million) to fund research and development of reusable heavy-lift rockets, spacecraft and liquid-fuel engines,...

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News ImagePremier Li Qiang pushes AI-powered, next-gen energy system amid global shocks

As global supply volatility intensifies, Premier Li Qiang has called for faster development of a “new-type power system” to accelerate the green transition and expand the use of artificial intelligence (AI) in the sector. During a three-day visit to the southwestern province of Sichuan, Li stressed the need to expand green electricity supply and optimise the energy mix to bolster security and support economic growth. He urged market players to explore new grid architectures, improve system-wide...

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News ImageWhat Zhipu and MiniMax’s first post-IPO earnings say about the 2 Chinese AI start-ups

Chinese artificial intelligence start-ups Zhipu AI and MiniMax have shown early signs of sustainable commercialisation of their AI models, analysts said, as investors continue to pump up their Hong Kong stocks despite widening losses. That assessment comes as the companies reported their first earnings since their respective initial public offerings in early January, providing a glimpse into the business models of an industry still in its infancy globally. The South China Morning Post takes a...

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News ImageChina’s Nexchip files for Hong Kong listing as chip expansion race heats up

China’s third-largest chip foundry, Nexchip Semiconductor, filed for a Hong Kong listing on Tuesday as domestic wafer fabs race to expand production capacity amid surging artificial intelligence demand and Beijing’s push for greater chip self-sufficiency. Nexchip, a smaller rival to SMIC and Hua Hong Semiconductor, is seeking a dual listing in Shanghai and Hong Kong, signalling the state-backed foundry’s latest effort to strengthen its position in China’s mature-node chipmaking sector. The move...

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News ImageBaidu’s robotaxi breakdown in Wuhan strands riders, raises safety concerns

The breakdown of Chinese tech giant Baidu’s autonomous driving vehicles in Wuhan on Tuesday evening affected services and left many passengers stranded on highways with heavy traffic for hours, hurting the company’s autonomous driving ambitions as it moves to expand its robotaxi business globally. Phone calls for help from affected customers to the traffic police line in Wuhan, capital of central Hubei province, surged from 8.57pm, after many Apollo Go robotaxis stopped in the middle of the...

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News ImageGanfeng Lithium forecasts strong battery demand amid China-US rivalry in renewable energy

China’s Ganfeng Lithium, the world’s largest producer of lithium metal, is envisioning an “explosive growth” in the global energy storage system (ESS) market in 2026, spurred by higher prices of the key battery material and buoyant demand for renewable energy infrastructure. Executives including president Wang Xiaoshen told an investors’ conference on Tuesday that the global decarbonisation drive had created a strong and sustainable trajectory for Ganfeng, which swung from loss to profit last...

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News ImageUBTech surges in leaps and bounds as humanoid robot sales jump 23-fold

Shares of Hong Kong-listed UBTech jumped after the robotics firm reported a surge in 2025 revenue, driven by an explosive 23-fold rise in humanoid robot sales as China’s robotics sector moves into large-scale production. Revenue from full-size embodied intelligent humanoid robots and related services reached 820 million yuan (US$119 million) last year, making it UBTech’s largest business line. That marked a 2,203 per cent increase from a low base of 35.6 million yuan in 2024, according to...

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News ImageHong Kong’s anticipated stablecoin licence by end-March does not materialise

Hong Kong’s highly anticipated first batch of stablecoin licences did not materialise as expected by the end of March. Industry players said the delay may be caused by a slower-than-expected review process, adding that it could also be due to the regulators’ cautious stance towards launching the first batch of regulated stablecoin licences as the city seeks to cement its status as a digital-asset hub. “I don’t think [the delay] is caused by the market,” said Jack Poon, a member of the task force...

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News ImageHuawei’s profit rises 8.6% in 2025 as overall performance remains steady

Huawei Technologies maintained “steady” recovery momentum in 2025, with its profit rising 8.6 per cent, as the Chinese telecommunications gear maker doubled down on chip development and smartphones in defiance of US sanctions. Net profit came in at 68 billion yuan (US$9.8 billion) last year, compared with 62.6 billion yuan a year earlier, according to the Shenzhen-based company’s annual report released on Tuesday. Total revenue in 2025 reached 880.9 billion yuan, up 2.2 per cent from 862.1...

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News ImageShenzhen activates China’s first 10,000-card AI cluster with Huawei’s advanced chips

China’s southern tech hub Shenzhen began operations of the country’s first 10,000-card intelligent computing cluster, built with advanced chips made by Huawei Technologies, in the latest sign of how the country is deepening its push for home-grown computing capabilities. Featuring a computing capacity of 11,000 petaflops, the new cluster, activated last week, is the country’s first 10,000-card intelligent computing cluster built with Huawei’s Ascend 910C AI chips, according to Shenzhen Special...

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News ImageZhipu AI revenue jumps 132% in first post-IPO report, missing estimates

Chinese artificial intelligence company Zhipu AI posted worse-than-expected annual revenue growth in its first earnings report since its initial public offering (IPO) in Hong Kong in January. Revenue rose 131.9 per cent year on year to 724.33 million yuan (US$104.8 million) for the year ended December 2025, the Beijing-based company said on Tuesday, lagging an estimate of 756 million yuan by analysts polled by Bloomberg. Zhipu, the first foundational AI model start-up in the world to launch an...

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News ImageApple’s accidental AI feature roll-out in China risks regulatory backlash, expert says

Apple’s accidental roll-out on Tuesday of its highly anticipated Apple Intelligence feature in mainland China – which has yet to receive regulatory approval – before swiftly pulling it could raise the ire of regulators and expose the US tech giant to potential penalties, an industry expert warned. The brief release could have violated local rules on artificial intelligence security evaluations, algorithm filings and data protection, according to You Yunting, a Shanghai-based intellectual...

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News ImageAsia’s chip industry faces naphtha squeeze – and South Korea feels it the most

South Korea has become a focal point of Asia’s petrochemical crisis, a frontline economy suddenly forced to navigate the fallout from the Middle East turmoil while scrambling for alternatives. Its semiconductor and industrial sectors, already heavily dependent on imported naphtha, are now exposed to geopolitical shocks that are rippling across the region. South Korea relies on imports for about 45 per cent of its naphtha demand. About 77 per cent of those come from the Middle East. On Monday,...

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News ImageStreaming giant iQiyi joins homecoming wave with proposed US$300m Hong Kong listing

Nasdaq-listed iQiyi, a Chinese online entertainment video provider backed by Baidu, has submitted a confidential application for a listing in Hong Kong, the company said on Monday. Details of the proposed listing have yet to be finalised, the company said, pending regulatory approvals from the Hong Kong stock exchange and the China Securities Regulatory Commission, as well as the company’s own final decision. “There is no assurance that the proposed listing will take place or when it may take...

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News ImageBiren, Iluvatar CoreX post triple-digit revenue growth but losses persist in AI chip race

Biren Technology and Iluvatar CoreX, two Chinese graphics processing unit (GPU) champions that are seen as potential alternatives to Nvidia, saw their revenues surge in 2025 amid China’s accelerated push for chip self-sufficiency, according to their first earnings reports since listing in January. Biren’s annual revenue surged 207.2 per cent from a year ago to 1.03 billion yuan (US$149 million), beating the consensus estimate of 954.5 million yuan, while its crosstown rival Iluvatar CoreX posted...

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News ImageXiaomi, Alibaba ramp up AI recruitment amid global talent war

Chinese tech giants Xiaomi and Alibaba Group Holding have launched spring recruitment drives amid fierce competition for the talent driving the global artificial intelligence boom. The campaigns come as the smartphone and e-commerce giants, respectively, look to increasingly position themselves as AI-first firms, amid growing commercial pressures in their traditional businesses. In a Weibo post on Monday, Xiaomi founder and CEO Lei Jun said the company’s global recruitment campaign would target...

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News ImageFiring up: Manycore first of Hangzhou’s ‘Six Little Dragons’ to near Hong Kong IPO

Manycore Tech, a Hangzhou-based developer of spatial design software, has passed its listing hearing in Hong Kong, moving a step closer to an initial public offering (IPO) as it pushes deeper into what it calls “spatial intelligence” – the integration of artificial intelligence with the physical world. The company is one of Hangzhou’s “Six Little Dragons” – a group of rising start-ups that includes AI developer DeepSeek, robotics firms Unitree Robotics and Deep Robotics, Black Myth creator Game...

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News ImageDeepSeek 12-hour outage leaves millions cut off, sparks complaints as rivals gain ground

Chinese artificial intelligence start-up DeepSeek suffered a prolonged outage overnight that extended into early Monday morning, disrupting service for hundreds of millions of users, according to a company notice and user feedback. The Hangzhou-based AI lab’s namesake chatbot website and app were offline from Sunday evening, with the company continuing to investigate while issuing fixes from between 1am and 9am on Monday, according to service maintenance records the company published online. The...

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News ImageWhat makes Yuanjie – a Chinese optical chip star and Hong Kong IPO candidate – stand out?

Yuanjie Semiconductor Technology, a Chinese maker of laser chips for optical communications, has emerged as one of the mainland exchanges’ biggest beneficiaries of the artificial intelligence infrastructure boom – with its shares rising nearly ninefold over the past year as it pursues a Hong Kong listing. The Shaanxi-based integrated device manufacturer, whose shares closed at 1,100 yuan on Friday, now ranks second by share price among mainland-listed companies, trailing only Kweichow Moutai at...

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News ImageChinese analogue chipmakers join wave of global price rises as mature-node firms eye gains

A string of Chinese analogue chipmakers have announced price increases in step with their international peers, as a broader pricing wave sweeps across the semiconductor supply chain – a shift that analysts say could hand China’s mature-node producers a rare window to gain ground. Novosense Microelectronics, SG Micro, Fortior Technology, Halo Microelectronics, Silan Micro and Kiwi Instruments are among the domestic firms recently raising prices, in line with global leaders including Texas...

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News ImageByteDance bolsters Seedance 2.0 with watermarking, IP safeguards ahead of global roll-out

ByteDance has bolstered its controversial video-generation model Seedance 2.0 with “advanced” watermarking and intellectual property (IP) protection guardrails ahead of its global roll-out, the TikTok owner has said. The much-anticipated international release comes amid intense scrutiny from Hollywood studios over alleged IP theft after numerous Seedance-generated videos featuring famous Hollywood actors and characters went viral in February. On Wednesday, ByteDance said its global safety and...

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News ImageSouth Korean chip giants step up China investments to combat global AI memory shortage

Samsung Electronics and SK Hynix are stepping up investments in their China wafer fabs as they race to boost supply amid a tightening memory chip market driven by demand for artificial intelligence computing, underscoring China’s continued role in semiconductor production despite US restrictions. Samsung Electronics invested 465.4 billion won (US$308.8 million) in its Xian chip plant in 2025, a 67.5 per cent increase from a year earlier, according to an annual report filed with South Korea’s...

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News ImageAI infrastructure on the front line: Lessons for Asean from the Iran war

On March 1, after Israel and the United States initiated attacks against Iran, Amazon Web Services reported drone strikes against data centre facilities in the United Arab Emirates and Bahrain. The strikes caused structural damage to the company’s infrastructure, impairing cloud services for those countries. Iran warned that US tech companies with Israeli links, including Google, Microsoft, Palantir, Nvidia and Oracle, were on Tehran’s list of “legitimate targets” for countermeasures. Strikes on...

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News ImageAlibaba to deploy AI ‘digital workforce’ for millions of merchants on Taobao, Tmall

Alibaba Group Holding is set to launch a new service that provides AI agents for millions of merchants on its Taobao and Tmall platforms, as the tech giant capitalises on the recent frenzy fuelled by OpenClaw to secure its lead in e-commerce. The new feature, slated for release by the end of March, will provide agentic AI services based on its merchant tool Business Advisor, aiming to give them a 24/7 autonomous “digital workforce” that can automate operation processes including offering...

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News ImageChina’s tech self-sufficiency drive reaches new milestone with powerful RISC-V chips

China’s ambition to cut its reliance on foreign semiconductor technology achieved a notable milestone this week, with the launch of two powerful chips based on the open-source RISC-V architecture. Xiangshan, a high-performance processor unveiled by the Chinese Academy of Sciences (CAS) at the Zhongguancun Forum in Beijing on Thursday, is the latest effort to push the boundaries with RISC-V architecture. With the central processing unit (CPU) core achieving a score of 16.5 points/GHz under SPEC...

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News ImageTop US AI conference apologises after sanctions policy sparks backlash in China

The organisers of a leading artificial intelligence conference have apologised after a new policy that appeared to bar US-sanctioned entities from participating sparked a backlash in China, saying the ban was more limited than initially indicated. The apology came after several major Chinese professional bodies urged domestic researchers to boycott the event, amid concerns that prominent tech groups such as Huawei Technologies would be excluded. In a statement on Friday, the Conference on Neural...

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News ImageOpenClaw effect: explosion in AI token use adds fuel to Chinese AI development

The recent nationwide frenzy to adopt OpenClaw, an open-source artificial intelligence agent, has pushed token use to new levels and given fresh momentum to China’s booming AI sector, according to industry experts at a state-backed conference on Friday. “Since late January token consumption [on my company’s platform] has been doubling every two weeks, and by now it has increased roughly tenfold,” said Xia Lixue, co-founder and CEO at Infinigence, a Beijing-based AI computing service provider,...

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News ImageChina’s top chip foundry SMIC unveils action plan for seizing new growth opportunities

Semiconductor Manufacturing International Corp (SMIC) launched an action plan to enhance its current businesses and seek new growth in 2026, as the largest contract chipmaker in China aims to solidify its role as the backbone of the country’s self-sufficiency drive. Released alongside its annual report for 2025, the plan outlined a commitment to “optimising existing stock and digging for new increments”, the company said in a stock exchange filing on Thursday. The company said two trends would...

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News ImageRewriting Commerce For The Agentic Age

For Gary Liu, the most profound shift in commerce today is not about faster checkouts or new wallets. It is about who, or what, sits between merchants and consumers. “There’s only one thing that’s fair to everyone - you only have 24 hours a day,” says Liu, CEO of Antom and Senior Vice President of Ant International. “Whichever service occupies the most consumer time, that’s where commerce should be.” Increasingly, that time is being spent not browsing websites, but interacting with AI...

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News ImageGreater Bay Area trails peers in basic research despite strong tech potential: Deloitte

The Guangdong-Hong Kong-Macau Greater Bay Area (GBA) is lagging behind China’s national average in basic research, despite showing strong potential in sectors such as semiconductors and smart manufacturing, according to Deloitte. The cluster of cities in southern China, which included Shenzhen, spent about 28.9 billion yuan (US$4.2 billion) on basic research in 2024, accounting for just 5.67 per cent of total spending in research and development (R&D), the consulting firm said in a report...

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News ImageGoogle’s TurboQuant AI advance dents memory-chip stocks, but analysts say ‘buy the dip’

A new artificial intelligence algorithm developed by Google that could reduce demand for memory chips triggered a slump in global memory stocks, but analysts said it presented an opportunity for investors to “buy the dip”. Shares in memory giants including Samsung and SK Hynix fell after Google said in a blog post on Tuesday that the algorithm, called TurboQuant, reduced the memory demands of key-value (KV) caches – a crucial component of how AI models are served to users – by six times through...

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News ImageDJI unveils its first 360-degree drone amid patent dispute with crosstown rival Insta360

China’s DJI announced its first 360-degree drone on Thursday, directly challenging domestic rival Insta360 in a nascent market segment that is now at the centre of an escalating patent war. The new product, the DJI Avata 360, marks a significant expansion for the company beyond traditional aerial photography. The drone features a front-mounted omnidirectional camera capable of capturing high dynamic range (HDR) images at 8K resolution and 60 frames per second, according to official...

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News ImageAI rift widens as China urges boycott of top US conference over sanctions ban

Chinese computer scientists and researchers have been urged to boycott a major artificial intelligence conference after its organisers barred submissions from US-sanctioned institutions, including leading Chinese tech groups such as Huawei Technologies. The move by the China Computer Federation (CCF) is the latest flashpoint in deepening US-China tensions over AI, a fast-evolving field with far-reaching economic, social and military implications. The influential professional body said on...

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News ImageMeituan posts second consecutive quarterly loss amid costly instant commerce battle

Chinese food and on-demand delivery giant Meituan reported on Thursday its second consecutive quarterly loss since 2022, as intense competition and a prolonged price war with Alibaba Group Holding and JD.com last year squeezed margins. The company reported a 15 billion yuan (US$2.2 billion) adjusted net loss – worse than the 12.9 billion yuan average estimate by analysts – for the fourth quarter ended December 31, compared with adjusted net profit of 9.8 billion yuan a year earlier. Its...

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News ImageChina’s Kuaishou slumps as analysts flag growth pressure despite strong results

Shares of Chinese short-video platform Kuaishou fell more than 13 per cent to HK$45.96 by midday in Hong Kong on Thursday, a day after reporting strong sales growth, as analysts warned that its core advertising and live-streaming businesses could face mounting pressure this year. The sharp decline reflected investor concerns over a cautious growth outlook for the Beijing-based firm, compounded by its heavy spending on artificial intelligence, according to Zhang Xueru, an analyst at investment...

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News ImageChina’s weight-loss drug makers take on global giants as Novo Nordisk patent expires

At least 10 weight-loss injections and oral pills are lining up for regulatory approval in China, in a market projected to reach about US$14 billion by 2030. Novo Nordisk’s blockbuster semaglutide, which generated about US$35 billion in global revenue last year, lost patent protection in China on March 20, clearing the way for rivals. The rush comes as China’s drug regulator accelerates approvals of innovative therapies, helped by a surge in out-licensing deals with global pharmaceutical...

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News ImageEuro, Chinese yuan to end US dollar dominance, top economist says

Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates...

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News ImageWhy China’s humanoid robots are still waiting for their ‘ChatGPT moment’

A “ChatGPT moment” for China’s humanoid robots – the tipping point at which the technology becomes widely usable – remains years away as persistent challenges in adapting to new tasks and training efficiency continue to hold back the industry, leading experts said on Wednesday at the Boao Forum for Asia in Hainan. Despite rapid advances in recent years, humanoid robots were still far from large-scale deployment, with both hardware and software limitations yet to be fully resolved, panellists...

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News ImageSemicon China: AI, advanced packaging set to drive country’s chip industry growth

Agentic artificial intelligence and advanced packaging technology will be key growth drivers for China’s chip industry in coming years, as the country is expected to increase its share of chipmaking capacity to nearly half of the world’s total by 2028. According to data revealed at Semicon China, the world’s largest chip industry trade show, China’s share of wafer fabrication capacity for mainstream processes was expected to reach 42 per cent of global capacity by 2028. That would mark a rapid...

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News ImagePinduoduo operator’s profit slides as Chinese firm cites higher reinvestment

PDD Holdings, the Chinese e-commerce group behind Pinduoduo and global budget marketplace Temu, on Wednesday reported an 11 per cent drop in quarterly profit amid higher sales as the company continued a pivot towards greater reinvestment. Net profit for the quarter fell to 24.5 billion yuan (US$3.6 billion), missing a consensus analyst estimate of 29.1 billion yuan. Meanwhile, revenue rose 12 per cent from a year earlier to 123.9 billion yuan, aligning with a consensus analyst estimate of 123.7...

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News ImageChina Mobile bets on Hong Kong as gateway for global computing flows

China Mobile has invested nearly HK$10 billion (US$1.28 billion) over five years to help turn Hong Kong into a global computing hub, integrating the city into China’s national network. The world’s largest telecoms operator by subscribers on Wednesday opened a new data centre in northern Hong Kong and said it would step up investment in next-generation submarine cables. The state-owned group aims to bring Hong Kong into China’s national computing network, which has the world’s second-largest...

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News ImageChina names Beijing, other city clusters as global tech hubs in self-reliance push

China is stepping up its efforts to build Beijing and its environs, along with other major city clusters, into “international technological innovation centres”, according to a high-ranking official – part of the country’s accelerated push for tech self-sufficiency. Speaking at the opening of the state-backed Zhongguancun Forum in Beijing on Wednesday, Chinese Vice-Premier Ding Xuexiang said the country would intensify its campaign to achieve “high-level self-reliance in science and technology”...

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News ImageShenzhen eyes ‘leapfrog’ gains in AI server supply chain under self-reliance push

Shenzhen – southern China’s technology powerhouse – has launched an ambitious three-year action plan to build itself into a hub for intelligent computing clusters by advancing key areas such as semiconductors, storage and AI servers. The city aimed to see a “leapfrog” increase in the production capacity and shipment volume of the entire AI server supply chain by 2028, according to the plan published Monday by Shenzhen’s industry and information technology bureau. The blueprint is geared to...

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News ImageHong Kong stocks extend rebound on signs of diplomatic path in Iran conflict

Hong Kong stocks extended their rebound on Wednesday on signs that a diplomatic solution to Middle East tensions was making progress. The Hang Seng Index rose 1.1 per cent to 25,335.95 at the close, adding to a 2.7 per cent gain a day earlier. Technology stocks advanced, driving the Hang Seng Tech Index up by 1.9 per cent, after China’s anti-monopoly regulator called for an end to the price war in the on-demand food delivery market. On the mainland, the CSI 300 Index climbed 1.4 per cent and the...

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News ImageChina’s WeRide eyes Hong Kong, Singapore roads for robotaxis as self-driving giants expand

Chinese self-driving technology developers continue to expand outside the mainland as WeRide seeks to launch robotaxi services this year in Hong Kong and Singapore, according to an executive. WeRide’s planned entry into Hong Kong was set to cover both robotaxis and robobuses, said senior director of public relations and marketing Maeve Zhang in a media briefing on Tuesday, without disclosing the operation areas or a launch date. Meanwhile, the Guangzhou-based company said it planned to launch...

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News ImageUS move to ban Chinese routers as part of onshoring push could be uphill battle: analysts

A US move to ban imports of new foreign-made consumer routers aims to pressure Chinese manufacturers to “onshore” parts of their production chain, although that will be a challenge given limited US manufacturing capacity, according to analysts. The US Federal Communications Commission (FCC) said on Monday that it had updated its Covered List to include consumer-grade routers produced in foreign countries, citing concerns that the devices could “pose unacceptable risks to the national security of...

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News ImageAlibaba debuts its latest RISC-V-based chip amid shift to AI agents

Alibaba Group Holding’s research arm Damo Academy has unveiled a chip designed to fuel artificial intelligence agents, as the tech giant bets on open-source RISC-V architecture to ride the wave of agentic AI. XuanTie C950, the latest flagship in Alibaba’s XuanTie RISC-V series, was introduced at the company’s annual ecosystem conference in Shanghai on Tuesday. Designed for high-performance tasks in cloud computing and AI computing, the C950 is a “CPU core” – the fundamental architecture for a...

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