Alibaba

Baidu

ByteDance

Meituan

Pinduoduo

Tencent

Most Followed

KrASIA Connection

China's Auto Sector

Earnings Reports

Inside China's Startups

Venture Roundup

Our Events

View All

Collections

News

Features

Insights

Ecosystem

DeepSeek

Kuaishou

Li Auto

Xiaohongshu

Xiaomi

Xpeng

On the Radar

Tongcheng Travel’s Q1 2025 revenue rose 13.2% YoY to RMB 4.38 billion, while adjusted net profit surged 41.1% to RMB 788 million. Monthly and annual p…

Events

Latest

About

36Kr (EN)

Consumer

Robotics

Fintech

What lies beyond familiar frontiers? Investigate emerging tech—like quantum computing and AI—transforming traditional sectors.

Deep Tech

How does automation advance industry? Analyze robotic arms, drones, and AI-driven tools reshaping manufacturing and services.

China

With clients like BYD and Ecovacs, the Shenzhen-based firm says its purpose-built tightening robots can outperform generic systems.

A smarter way to tighten screws? Slabor lands early funding to prove it

Decoding China&#039;s tech and business pulse

KrASIA

36Kr is China's most influential business and technology network, delivering high-quality content focused on China’s innovation and new economy trends since 2010. With its extensive traffic and network, 36Kr has built a comprehensive database and strong data analytics capabilities to provide insights into China’s technology landscape.

36Kr English

Image of the YU7, a pure electric SUV by Xiaomi. It is scheduled for release in mid-2025.

China’s tech ecosystem serves as a driving force behind the world’s second largest economy, influencing global digital markets.

Explore East Asia’s thriving tech hubs, global electronics producers, and fast-evolving digital platforms shaping cross-border innovation.

East Asia

Xiaomi crafts affordable smartphones, wearables, and IoT devices, appealing to users who seek innovation, quality, and budget-friendly tech.

What powers tomorrow’s roads? Explore EV adoption, charging infrastructure, and battery advances sparking the shift toward sustainable transport.

Electric Vehicles

How is the way we move evolving? Explore developments in autonomous transportation, electric vehicles, and more efficient urban transit.

Mobility

How do goods and people flow worldwide? Examine transport networks, logistics innovations, and policies shaping global connectivity.

Transportation

With the YU7, Xiaomi seeks not only redemption, but a shot at surpassing Tesla.

After SU7 setback, Xiaomi reboots EV push with safer, smarter YU7

How do markets shape wealth creation? Study portfolio diversification, asset classes, and strategies balancing growth and risk.

Investment

When do companies invite public investment? Understand listing criteria, underwriter roles, and regulatory steps defining initial offerings.

Why do firms join forces? Investigate synergy goals, valuation methods, and negotiations driving corporate consolidation.

Merger &amp; Acquisition

What happens after acquisitions close? Examine deal structures, operational improvements, and exit strategies molding corporate outcomes.

Private Equity

What fuels startup ecosystems? Review funding rounds, investor strategies, and market insights guiding entrepreneurial growth.

Venture Capital

Indonesia

Singapore

Southeast Asia

Vietnam

Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Deals in brief: CrediLinq secures Series A funding, Vertex Ventures backs Quantified Energy, Ringkas raises 5.1 million, and more

An alias used when humans and machines team up in our newsroom. Articles under this byline may be shaped with the help of AI, but are always vetted by a human before publication.

Sudo Lim

KrASIA tracks China’s tech and business stories—alongside key developments across the broader Asia Pacific region.

Header Section | KrASIA

Home

Sections

Header Section

Tongcheng Travel’s Q1 2025 revenue rose 13.2% YoY to RMB 4.38 billion, while adjusted net profit surged 41.1% to RMB 788 million. Monthly and annual paying users hit record highs at 46.5 million and 247.3 million, fueled by mass market demand, cross-selling, and international travel growth.

On May 27 local time, SpaceX’s Starship reached space in its ninth test flight but failed to deploy mock Starlink satellites and lost its upper stage during reentry. The failure, which ended with debris falling into the Atlantic Ocean, marks a setback for SpaceX’s deep space plans. The company cited a loss of main tank pressure as the cause.

Joby Aviation has closed a USD 250 million investment from Toyota to advance certification and production of its <a href="/industry/evtol">electric air taxis</a>. The funding marks the first tranche of a previously agreed deal and will support plans to scale manufacturing through expanded collaboration.

Brazilian labor prosecutors have sued <a href="/company/byd">BYD</a> and two contractors over alleged trafficking and “slavery-like” conditions for 220 Chinese workers building a factory in Bahia. The suit seeks BRL 257 million in damages and fines. BYD said it respects labor rights and is cooperating with authorities.

Apple will launch a dedicated gaming app across iPhones, iPads, Macs, and Apple TVs, replacing Game Center and adding support for both App Store and third-party titles. Set to debut at WWDC on June 9, the app will centralize achievements, subscriptions, and editorial content ahead of broader iOS updates in September.

Neuralink has raised USD 600 million at a USD 9 billion pre-money valuation, more than doubling its worth from 2023, according to Pitchbook. The final figure exceeds the USD 500 million target previously reported and follows <a href="https://kr-asia.com/all-in-your-head-what-you-should-know-about-neuralink-and-brain-computer-interfaces">chip implants</a> in three patients, including an ALS patient who spoke using the device in a video on X. It is Neuralink’s largest funding round to date.

KKR has reportedly launched its third Asia Pacific infrastructure fund, seeking to exceed the USD 6.4 billion raised by its predecessor in 2024. With a continued focus on energy, utilities, digital infrastructure, and transport across APAC, the new vehicle targets strong demand from existing and new LPs, after posting an 18.6% IRR for the second fund as of end-2024.

<a href="/company/alibaba">Alibaba</a> is considering a sale of bonds exchangeable into ZTO Express shares to trim its 10% stake, which it acquired for USD 1.38 billion in 2018 to boost its <a href="/industry/logistics">logistics</a> services. Talks are reportedly ongoing, and no final decision has been made. The potential deal would echo <a href="/company/baidu">Baidu’s</a> bond sale tied to Trip.com Group earlier this year.

Salesforce has agreed to acquire Informatica for USD 25 per share in cash, valuing the deal at USD 8 billion. The move will bring Informatica's cloud-native data tools into Salesforce's ecosystem to enhance its <a href="/industry/ai">AI</a> stack and expand capabilities in customer data management and automation.

China will deepen reforms in 232 national development zones, which collectively generated RMB 16.9 trillion in GDP and attracted USD 27.2 billion in FDI in 2024. A new plan prioritizes foreign-led projects in semiconductors, biomedicine, and advanced manufacturing, aiming to strengthen global investor engagement and promote higher-quality market access.

<a href="/company/nvidia">Nvidia</a> is expected to report Q1 2025 revenue of USD 43.3 billion, up 66.2% YoY, but faces a USD 5.5 billion charge after US curbs on its H20 chip for China. The company has exited USD 15 billion in China sales and could lose up to USD 4.5 billion per quarter going forward. Adjusted gross margins are forecast to decline by more than 11 percentage points.

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

Artificial Intelligence

Believing AI should challenge rather than reinforce habits, Yu Bo is building YouMind to appeal to the better side of human nature.

Most AI tools play to our worst instincts. YouMind is betting on the opposite

AI Now! is a global AI community of Chinese developers, professionals, and founders.

https://secure.gravatar.com/avatar/f0ec64bc524c1edf0ae454b5b9aabacd?s=96&d=blank&r=g

AI Now!

Keeta, an independent brand of Meituan, specializes in food and consumer product delivery services.

Keeta

Meituan, China’s all-in-one local services platform, covers food delivery, travel bookings, and lifestyle deals, simplifying daily consumer choices.

Xiaoxiang Supermarket leverages digital channels to deliver groceries and essentials directly to local consumers’ doorsteps.

Xiaoxiang Supermarket

What sets the bar for convenience? Examine on-demand platforms, subscription models, and personalization transforming consumer expectations.

Consumer Economy

How do clicks replace aisles? Explore global marketplaces, payment solutions, and technology accelerating online retail’s growth.

E-commerce

How does dinner arrive at your door? Study platform partnerships, last-mile delivery, and culinary trends powering the takeaway economy.

Food Delivery

What changes the way we shop? Review fresh inventory management, dark stores, and logistics driving door-to-door grocery services.

Grocery Delivery

How do platforms deliver on immediacy? Analyze ride-hailing, instant deliveries, and gig models meeting consumer needs fast.

On-demand Services

How do stores adapt to digital shifts? Explore e-commerce integration, inventory analytics, and omnichannel strategies for modern shoppers.

Retail

While profits are up, Meituan is bracing for volatility as rivals ramp up discounting and regulators tighten oversight.

Meituan had a strong Q1, but it may be the calm before the subsidy storm

https://secure.gravatar.com/avatar/6ff53490f679f358bf543998d228fb32?s=96&d=blank&r=g

Tencent, a Chinese tech conglomerate, invests in gaming, social media, and cloud services, supporting entertainment and connectivity worldwide.

New model releases and a revamped AI agent development platform highlight Tencent’s push toward practical, enterprise-focused AI applications.

Tencent doubles down on agentic AI with latest Hunyuan updates

https://secure.gravatar.com/avatar/a6b9ace74da9df391d5f7ba1892f4393?s=96&d=blank&r=g

Tongcheng hits record user highs in Q1

Latest Pulses

Most Recent

Most AI tools play to our worst instincts. YouMind is betting on the opposite

Meituan had a strong Q1, but it may be the calm before the subsidy storm

Tencent doubles down on agentic AI with latest Hunyuan updates