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Tencent Music reported Q1 2025 net income of RMB 4.29 billion, up 202% YoY, driven by a one-time investment gain and robust subscription growth. Total…

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Tencent Music reported Q1 2025 net income of RMB 4.29 billion, up 202% YoY, driven by a one-time investment gain and robust subscription growth. Total revenue rose 8.7% to RMB 7.36 billion, with paying users reaching 122.9 million and monthly ARPPU up 7.5% to RMB 11.4. Music subscription revenue climbed 16.6%, while social entertainment declined due to compliance adjustments.

<a href="http://kormee.com/en/">Ruili Kormee</a>, a Chinese vehicle safety systems maker, has cleared its listing application as it seeks to fund R&amp;D and a new headquarters in Guangdong. The company is moving forward with its IPO following strong growth in brake electronics, reporting nearly RMB 2 billion in 2024 revenue and RMB 257 million in profit with a 29.7% gross margin. It aims to raise RMB 1.5 billion from the offering.

China sold over 11 million <a href="/industry/ev">EVs</a> in 2024, accounting for 60% of global sales and producing 70% of the world’s total. It also emerged as the top EV exporter, responsible for 40% of global exports, with Chinese brands expanding aggressively into emerging markets such as Brazil and Thailand.

Thailand’s Muu has raised new backing from A2D Ventures and Japanese partners to scale its precision fermentation tech for animal-free dairy. The startup reportedly produces milk proteins without cows, using 90% fewer resources, and aims to supply sustainable, lactose-free ingredients to Asia’s dairy alternatives market.

Zhipu AI is leveraging the Belt and Road Initiative (BRI) to expand globally, pitching sovereign AI agents to governments and setting up innovation centers in Asia. The firm, planning an IPO in October, faces rising competition as <a href="/company/openai">OpenAI</a> eyes its own international data center footprint.

Chinese exporters are seeing a surge in demand on <a href="/company/alibaba">Alibaba’s</a> international platform after the US cut tariffs on certain goods to 30%, with some US buyers already stocking up for Christmas. Alibaba launched a flash sale to support sellers, as analysts predict a sharp export uptick during the 90-day tariff reprieve.

Pony.ai, which raised USD 413 million in a US IPO, is now planning a Hong Kong listing to fuel further expansion. The company operates 250 robotaxis and is developing mass production models with Toyota, GAC, and BAIC. Revenue hit USD 75 million in 2024, but it remains unprofitable.

The US has reduced de minimis tariffs on Chinese D2C shipments to 30%, down from 145%, under a 90-day tariff truce. The move offers relief to e-commerce players like <a href="/company/shein">Shein</a> and <a href="/company/temu">Temu</a>, though many goods remain subject to higher duties from earlier trade actions. It follows the February end of de minimis exemptions, citing concerns over surging Chinese shipments and illicit goods like fentanyl.

Singapore-based HR tech startup BrioHR has raised SGD 8.7 million in a Series A funding round led by Openspace Ventures, with participation from Taiwania Hive Ventures and other regional investors. The funding will support AI integration and regional expansion, as BrioHR aims to transform how businesses manage HR practices across Singapore and Southeast Asia.

<a href="/company/nvidia">Nvidia</a> will deliver more than 18,000 GB300 chips to Saudi Arabia’s Humain in the first phase of a data center project with 500 MW in planned capacity. Announced during a US-led visit, the partnership includes joint efforts in AI upskilling and training to support Saudi Arabia’s Vision 2030 goals.

Washington has warned companies worldwide that using <a href="/company/huawei">Huawei’s</a> Ascend chips could violate export controls, citing US technology in their production. The move adds pressure as Huawei chips challenge <a href="/company/nvidia">Nvidia’s</a> dominance in China.

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Bookings sink as US importers halt orders, raising fears of empty store shelves.

Trump's China tariffs spark shipping disruptions comparable to Covid-19

Trump&#8217;s China tariffs spark shipping disruptions comparable to Covid-19

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From learning tools to ad engines, teams prototyped AI applications aimed at solving practical challenges across industries.

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With a localized strategy and China-tested tech, Yup is expanding credit access across emerging markets in the region.

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Tencent Music lifts revenue, profit in Q1 2025

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