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AnyMind Group has announced plans to acquire Japan-based beauty distributor Sun Smile, marking its entry into offline retail and its 13th acquisition …

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AnyMind Group has announced plans to acquire Japan-based beauty distributor Sun Smile, marking its entry into offline retail and its 13th acquisition to date. The deal advances AnyMind’s strategy to integrate social media, <a href="/industry/e-commerce">e-commerce</a>, and nationwide store distribution into an <a href="/industry/ai">AI</a>-powered online-to-offline ecosystem that supports brand growth across Japan.

<a href="/company/alibaba">Alibaba</a> has released Qwen3.6-Plus, adding agentic coding and multimodal reasoning with a context window of one million tokens, supporting autonomous code generation and integration across its Wukong platform and Qwen app.

<a href="/company/bytedance">ByteDance's</a> Volcano Engine said its Doubao model surpassed 120 trillion daily token usage as of March, doubling in three months. It has also launched public beta access to the Seedance 2.0 API for enterprise <a href="/industry/ai">AI</a> video creation.

<a href="/company/weride">WeRide</a> and <a href="/company/grab">Grab</a> have launched autonomous ride services in Singapore's Punggol district, the first in a residential area, after trials covering 30,000 kilometers. The service is free during the initial phase, with commercial operations planned for mid-2026.

Former <a href="/company/tesla">Tesla</a> China executive Kong Yanshuang is said to have joined <a href="/company/xiaomi">Xiaomi</a> to oversee automotive sales, as the company strengthens its retail operations while targeting 550,000 vehicle deliveries in 2026.

CaoCao Mobility has gained approval to test autonomous vehicles without safety drivers in Hangzhou, becoming the city's first to do so, as it advances robotaxi deployment with the target of 100,000 vehicles across 100 cities by 2030.

<a href="/company/miniso">Miniso's</a> Top Toy refiled for a Hong Kong IPO on March 31 with JPMorgan and UBS as sponsors, after its first application lapsed. The toy retailer also reported 2025 revenue of RMB 3.59 billion and profit of RMB 101 million.

<a href="/company/baidu">Baidu’s</a> Apollo Go began fully driverless commercial operations in Dubai on March 30, deploying fleets under regulatory oversight and partnering with Dubai Taxi Company and Uber, as it expands a global robotaxi network with over 20 million completed rides.

Volvo has signed a memorandum of understanding with <a href="/company/geely">Geely</a> to become the exclusive importer and operator of Lynk &amp; Co in Europe, using its retail and service network to sell and support the brand, while Lynk &amp; Co's global operations remain under Geely.

Moore Threads said it signed a RMB 660 million contract to supply its KUAE computing cluster to an undisclosed client, with payments staged through 2026. The company said the deal is expected to support revenue growth if fully executed.

iQiyi has confidentially filed for a Hong Kong listing and approved a share buyback of up to USD 100 million, aiming to expand its investor base and funding channels. The plan remains subject to regulatory approvals, with details yet to be finalized.

Luckin Coffee provides app-based ordering, convenient pickup, and a broad beverage menu, reshaping China’s coffee consumption patterns.

Luckin Coffee

Mixue Bingcheng runs beverage shops, leveraging mobile ordering and social commerce to serve refreshing drinks and desserts.

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Luckin’s latest acquisition and Mixue’s coffee trials point to a widening split in strategy.

China’s coffee market splits in two as Luckin moves upmarket and Mixue digs deeper

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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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Cheng Zi

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AnyMind to acquire Japan’s Sun Smile

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China’s coffee market splits in two as Luckin moves upmarket and Mixue digs deeper

Why DJI’s talent outflow may be a sign of strength, not weakness

Deals in brief: GIC backs legal AI firm Harvey, Amity and Startale raise funding, China logs 14 investments, and more