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Alibaba Cloud has introduced Qwen3-Max, the flagship model of its new Qwen3 series, built for advanced agentic AI scenarios. The Qwen family now inclu…

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

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Alibaba Cloud has introduced Qwen3-Max, the flagship model of its new Qwen3 series, built for advanced agentic <a href="/industry/ai">AI</a> scenarios. The Qwen family now includes over 300 open-source models with 600 million downloads and 170,000 derivatives. More than one million users have reportedly accessed the models via <a href="/company/alibaba">Alibaba’s</a> Model Studio.

Chinese game maker Game Science has opened its first offline retail store in Hangzhou, a 1,000-square-meter, two-story space featuring Black Myth-themed decor, collectibles, apparel, and exclusive items. Fans queued hours before opening, and some limited products sold out on the first day, with resale listings quickly appearing online.

<a href="/company/catl">CATL</a> is preparing to launch 8-series high-nickel batteries in 2026, reviving a chemistry once sidelined over safety and durability issues. Designed for range-extended and plug-in hybrid vehicles, the packs promise higher energy density and lighter weight than LFP alternatives, but costs and stability challenges could limit widespread adoption.

Ant International, the Singapore-based arm of <a href="/company/ant-group">Ant Group</a>, is scaling an <a href="/industry/ai">AI</a>-powered system to forecast foreign currency needs and optimize cash flows. Paired with blockchain-based payments, the tools reportedly processed USD 1.1 trillion in flows last year and are now adopted by clients including AirAsia.

TikTok’s US operations have been valued at USD 14 billion under a deal approved by President Donald Trump. Oracle, Silver Lake, and Abu Dhabi’s MGX will acquire about 45% of the new joint venture, while <a href="/company/bytedance">ByteDance</a> keeps less than 20% and other investors take the remainder. The terms still require approval from Beijing.

Oracle, Silver Lake, and Abu Dhabi’s MGX will acquire about 45% of TikTok US under a proposed deal that President Donald Trump has reportedly approved by executive order. <a href="/company/bytedance">ByteDance</a> will retain 19.9%, with the remainder held by existing and new investors. Oracle will oversee app security as TikTok avoids a US shutdown under divestiture law.

<a href="/company/xiaomi">Xiaomi</a> has unveiled its 17 smartphone series starting at RMB 4,499, more than USD 100 cheaper than Apple’s iPhone 17. In a live stream, CEO Lei Jun staged head-to-head comparisons with Apple’s device while also highlighting Xiaomi’s EV sales, chipmaking push, and broader effort to rival US tech giants from Apple to <a href="/company/tesla">Tesla</a>.

The Singapore Fashion Council has reportedly invested USD 300,000 in Loom Carbon through its TBFI Scale Up accelerator. The climate tech startup is developing modular pyrolysis systems that turn textile waste into circular materials such as renewable oil and bio black, with its first commercial plant planned in Singapore.

Hong Kong-based fintech firm RedotPay has raised USD 47 million in a round with new backing from Coinbase Ventures and follow-on investment from Galaxy Ventures and Vertex Ventures. Founded in 2023, the company offers stablecoin-based wallets, cards, and payout services, and now serves about five million users.

<a href="/company/lazada">Lazada</a> has reportedly linked with Tmall to let merchants easily replicate stores across Southeast Asia, a key step in its brand-focused strategy. Backed by <a href="/company/alibaba">Alibaba’s</a> e-commerce integration, Lazada aims to broaden access to branded goods for the region’s growing middle class, with AI-driven tools supporting localization and logistics.

<a href="/company/byd">BYD</a> is offering RMB 10,000 discounts on select Qin Plus sedans through December, extending earlier cuts across models such as the Tang DM-i and Seal 07 DM-i. The Qin Plus remains one of BYD’s bestselling models, but the move follows four consecutive months of weaker sales in China amid official calls to curb price wars.

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CHENG Zi is based in China, covering technology and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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Connect with researchers developing new platforms in healthcare, sustainability, and engineering at KSAC’s “Lab to Global Stage” showcase.

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Backed by Ant-linked partnerships and digital asset reserves, the firm is deepening the integration of blockchain with traditional finance.

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