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At a May 18 event, CATL chairman Robin Zeng said electric heavy trucks could account for 50% of China’s market by 2028, up from 10% in 2024. His remar…

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At a May 18 event, <a href="/company/catl">CATL</a> chairman Robin Zeng said electric heavy trucks could account for 50% of China’s market by 2028, up from 10% in 2024. His remarks came alongside the launch of a new standard swappable battery for medium- and heavy-duty trucks.

Leapmotor reported record Q1 2025 revenue of RMB 10.02 billion, up 187.1% YoY, as vehicle deliveries surged 162.1% to 87,552 units. Gross margin improved to 14.9%, supported by increased scale, cost controls, and a stronger product mix. Net loss narrowed to RMB 130 million from RMB 1.01 billion, with cash and equivalents totaling RMB 25.7 billion as of March 31.

Cainiao is expanding its logistics operations in the Americas to meet rising cross-border e-commerce demand. Parcel volume to Brazil surged 80% in April, while Mexico and the US recorded strong weekly growth in May. Recent upgrades include new distribution hubs in Los Angeles, New York, Miami, and Chicago, along with a three-day delivery service across Mexico.

Shares of Chinese battery giant CATL opened at HKD 296 in their Hong Kong debut, rising 12.5% from the IPO price of HKD 263. The listing raised USD 4.6 billion, making it the largest global IPO so far in 2025. As of 11 a.m. local time, the stock had edged up to HKD 298.8.

Biotechnology firm Phase Scientific has completed a USD 34 million Series A funding round led by a private equity fund managed by Value Partners Group, with support from undisclosed new and existing investors. The funds will be used to accelerate R&amp;D and commercialization of the company’s urine-based diagnostic technology, aimed at making early disease detection more accessible through at-home testing.

Qifu Technology reported Q1 2025 revenue of RMB 4.69 billion and non-GAAP net income of RMB 1.93 billion, up roughly 12.9% and 59.9% YoY, respectively. The company facilitated RMB 88.9 billion in loans across 24.4 million transactions. Nearly half of its lending volume now comes from capital-light models, with funding provided by partners through automated systems and third-party platforms.

<a href="/company/ant-group">Ant Group’s</a> international division generated nearly USD 3 billion in revenue in 2024 and recorded its second consecutive year of adjusted profit. Headquartered in Singapore, the unit is expanding across Southeast Asia through platforms such as Alipay+, Antom, WorldFirst, and other cross-border financial solutions.

Prop tech startup MilikiRumah has launched a USD 50 million rent-to-own housing fund, achieving a first close of USD 10 million. Backed by Ruifeng Wealth Management, Tembusu Partners, and Trigger Asset Management, along with angel investors, the four-year closed-end fund aims to deliver freehold homes to Indonesia's underbanked. It targets a 20% IRR and will focus on municipalities across Greater Jakarta.

Officials from Hong Kong and mainland China have signed a new agreement to link their respective digital customs clearance platforms. The deal aims to enhance cross-border trade efficiency through data sharing, document reuse, and phased system integration by 2026.

Hon Hai Precision, also known as Foxconn, invested USD 1.5 billion into its India unit to support new factories and increased production. The move is part of Apple’s broader strategy to diversify its supply chain, with plans to manufacture most US-bound iPhones in India by late 2026. Apple assembled USD 22 billion worth of iPhones in India over the past year, marking a 60% YoY increase.

<a href="/company/geely">Geely’s</a> Egyptian distributor Abou Ghaly Motors has delivered 150 locally assembled Emgrand sedans to the National Bank of Egypt under a new fleet agreement. The vehicles were produced at Geely’s plant in 6th of October (city), which began operations in January 2025 and sources approximately 45% of key components locally.

BYD, a Chinese EV maker, produces electric cars, buses, and batteries, accelerating adoption of sustainable transportation worldwide.

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China’s electric truck sales to surge: CATL

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