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CATL shares opened at HKD 320 on day two in Hong Kong, extending gains after closing at HKD 306.2 on debut. The price marks a 22% premium over the IPO…

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<a href="/company/catl">CATL</a> shares opened at HKD 320 on day two in Hong Kong, extending gains after closing at HKD 306.2 on debut. The price marks a 22% premium over the IPO level of HKD 263, underscoring strong investor interest in the Chinese battery giant.

The US Department of Commerce plans to impose up to 721% in tariffs on Chinese graphite used in lithium-ion battery anodes, citing unfair subsidies. The move follows a trade case led by US producers and aims to boost domestic supply chains. Final rulings, including potential anti-dumping duties, are expected by December and could escalate trade tensions.

EHang expects to launch flying taxi services in Guangzhou and Hefei this year and sees China enabling fixed-route air shuttles by 2030. Certified by China’s aviation regulator for autonomous eVTOL aircraft, the firm is running city trials, scaling production, and plans to unveil upgraded aircraft and new battery technology later this year amid rising global interest.

<a href="/company/nvidia">Nvidia</a> CEO Jensen Huang warned that US chip export controls are a “failure” that undermine national tech competitiveness. He said the restrictions have halved Nvidia’s China market share and spurred Beijing to accelerate AI chip development. Speaking at Computex, Huang said the curbs may hurt US firms more than China and risk ceding leadership in the AI race.

<p data-pm-slice="1 1 []"><a href="/company/tiktok">TikTok</a> warned US <a href="/industry/e-commerce">e-commerce</a> staff of imminent job cuts in a memo from new division head Mu Qing, who cited plans to streamline operations. Employees were told to work from home and expect personnel changes starting May 23. The move comes amid mounting political pressure, leadership shifts, and uncertainty over TikTok’s future in the US market.</p>

LexinFintech reported Q1 2025 net income of RMB 430 million, up 113% YoY. Revenue fell 4% to RMB 3.1 billion, as loan services declined, but income from tech and e-commerce solutions rose sharply. The company said it cut costs, improved asset quality, and has raised its dividend payout ratio to 30% starting in H2 2025.

Tmall’s export push drove record growth in the opening days of the 2025 global 618 campaign, with nearly 1 million merchants participating. From May 16–19, over 50,000 brands saw cross-border sales more than double YoY, led by demand for skincare, sneakers, diapers, and infant formula. Over 4,500 brands debuted abroad, including Tao Factory.

Haidilao operator Super Hi reported Q1 2025 revenue of USD 197.8 million, up 5% YoY, with net profit of USD 11.9 million reversing a USD 4.5 million loss last year. The swing was driven by USD 20 million in foreign exchange gains, while restaurant count rose to 123 and guest visits grew 6.8%. Despite topline gains, operating income fell 34% as rising labor and food costs compressed margins.

Baozun posted Q1 2025 revenue of RMB 2.06 billion, up 4% YoY, led by a 23% rise in brand management sales and modest <a href="/industry/e-commerce">e-commerce</a> growth. Net loss narrowed slightly to RMB 63 million, while non-GAAP loss widened to RMB 57 million due to higher sales and marketing costs. Adjusted losses in brand management narrowed 28% as Gap and Hunter exceeded expectations.

iQiyi's net income fell 72% YoY to RMB 182 million in Q1 2025 as revenue declined 9% to RMB 7.19 billion. The drop was driven by a lighter content slate and weaker ad sales. Reductions in content costs and gains from foreign exchange and other income helped cushion the impact.

Weibo’s net income rose 117% YoY in Q1 2025 to USD 107 million, driven by lower marketing costs and steady revenue. AI-powered search tools saw broader adoption, while ad spend from Alibaba nearly doubled amid new product promotions. Total revenue was flat at USD 397 million, with gains in value-added services offsetting weaker non-Alibaba ad sales.

The tariff rollback shows Washington's constraints and offers exporters reprieve.

US-China trade war truce: 5 things to know

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Li Auto develops electric vehicles that combine smart cockpit systems, advanced safety features, and long-distance battery support.

How are driverless systems redefining mobility? Uncover sensor technologies, regulatory frameworks, and AI driving cars without human intervention.

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Xia Zhongpu exits Li Auto amid reported disagreements over its assisted driving strategy, as the company pivots to a model that “drives like a human.”

Li Auto’s E2E architect departs as company shifts focus to VLA

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What guides machine-led insights? Uncover AI applications, language models, and decision-making systems transforming sectors worldwide.

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With traditional data sources exhausted, the Digital China-backed firm sees enterprise ops as the next rich substrate for AI training and deployment.

CATL shares rise again after strong debut

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