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CATL, Ant Group, and HelloRide have formed a joint venture to co-develop Level 4 autonomous driving systems. The new entity is backed by RMB 1.288 bil…

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<a href="/company/catl">CATL</a>, <a href="/company/ant-group">Ant Group</a>, and HelloRide have formed a joint venture to co-develop Level 4 autonomous driving systems. The new entity is backed by RMB 1.288 billion in capital and a joint RMB 3 billion investment, with a focus on improving safety and reliability, accelerating commercialization, and supporting broader ecosystem growth.

Accounting software firm Xero will acquire Melio Payments for up to USD 2.5 billion in its largest deal to date, aiming to accelerate growth in the US and expand services for small businesses. The cash-and-stock transaction includes USD 500 million in potential earnouts, with Melio’s CEO set to lead the US operations.

A Chinese team led by Nankai University has completed what it calls the world’s first human trial of a brain-computer interface implanted via blood vessels, helping a paralyzed patient regain limb movement. Unlike Neuralink’s open-skull approach, the method reportedly reduces risk and shortens recovery time.

Prices for drone parts shipped from China to the US have surged as much as fourfold since Beijing imposed export controls on dual-use technologies in 2024, customs data shows. Infrared device exports to the US fell 60%, inertial sensor exports dropped 90%, and sales to Russia climbed, signaling a shift in global drone supply chains.

<a href="/company/iflytek">iFlytek</a> has launched a suite of <a href="/industry/ai">AI</a> products in Hong Kong, including a medical chatbot and multilingual transcription tools, while establishing the city as its international headquarters. The company said Hong Kong will anchor its global expansion and emphasized its reliance on domestic chip infrastructure amid US tech restrictions.

<a href="/company/bilibili">Bilibili</a> has launched an AI-powered feature on its marketing platform that helps brands match with content creators based on campaign goals, budget, and audience profiles. The tool analyzes creator data and generates recommendations in about three minutes, with usage limits based on account spend history.

Tims China, operator of the Tim Hortons chain in China, narrowed its Q1 2025 net loss to RMB 58.9 million as cost cuts lifted store-level margins to 6.7%. Revenue fell 9.5% due to closures and lower same-store sales, but system sales rose 3.5% YoY and loyalty memberships grew 26%. Adjusted EBITDA loss was nearly halved.

<a href="/company/alibaba">Alibaba Cloud</a> will expand access to its Qwen <a href="/industry/ai">AI</a> models and Model Studio platform through international data centers this year, senior vice president Liu Weiguang said. The move supports growing global demand and is part of a RMB 380 billion investment to scale Alibaba’s cloud and AI infrastructure.

Standard Robots has filed for a Hong Kong IPO with joint sponsors CITIC Securities and Guotai Junan International. Founded in 2016 in Wuxi, the company specializes in <a href="/industry/robotics">robotics</a> and <a href="/industry/ai">AI</a> software, and is backed by investors including <a href="/company/xiaomi">Xiaomi</a>, Broad Vision Funds, and China Capital Management.

Faraday Future said it has signed B2B preorder agreements for 4,000 units of its FX Super One <a href="/industry/ev">EV</a>, including 1,000 units from real estate brokerage Pinnacle and 500 from social commerce agency Telling. The company said its asset-light B2B2C sales model is driving preorder momentum without relying on traditional dealerships.

<a href="/company/alibaba">Alibaba Cloud</a> will expand its global <a href="/industry/ai">AI</a> infrastructure to support Chinese firms going abroad, aiming to deploy full-stack AI capabilities worldwide, senior vice president Liu Weiguang said at a summit in Shenzhen. The initiative targets “born global” companies, with support for compliance, services, and localized operations.

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The Garmin of AI glasses? ARknovv’s smart specs are built for athletes, not the masses

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With over 150 stores and renewed profitability, boutique coffee chain Algebraist Coffee is staying selective and staying in the game.

Profit over pace: Algebraist Coffee finds footing after China’s coffee shakeout

A price reset and a hard push on Douyin and Pinduoduo fueled Three Squirrels’ turnaround, driving sales back to their 2019 highs.

HelloRide joins CATL, Ant on self-driving push

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