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SMIC posts revenue growth in Q4 as expansion weighs on margins

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Xpeng taps Antom for charging payments

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Xpeng
Xpeng launched in-app EV charging payments in Hong Kong on February 9 through Ant International’s Antom, its first global payment partner for vehicle charging. Drivers can start, stop, and pay for charging in the Xpeng app using AlipayHK, with cards and regional wallets to be added as the rollout expands across Southeast Asia and other markets in 2026.

China cloud market tops USD 13 billion

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Omdia
Mainland China’s cloud infrastructure services market grew 24% YoY to USD 13.4 billion in Q3 2025, marking a second consecutive quarter of growth above 20% as AI adoption lifted demand for compute, storage, and database services. Alibaba Cloud led the market with a 36% share, followed by Huawei Cloud at 16% and Tencent Cloud at 9%.

BYD shifts strategy in Japan

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Nikkei Asia
BYD is expanding its Japan lineup with plug-in hybrid vehicles after revised clean energy subsidies eroded its price competitiveness for pure EVs. The move reflects the automaker’s effort to adapt its strategy as it seeks growth outside China.

Montage shares soar on Hong Kong debut

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CNBC
Shares of Chinese chip designer Montage Technology surged more than 60% after its Hong Kong debut on February 9, following a USD 902 million IPO priced at the top of the range.

Carro adds Dongfeng cars to lineup

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Carro
Carro has been appointed an authorized dealer for Dongfeng Motor, opening exclusive showrooms in Singapore and Malaysia. The partnership expands Carro’s retail strategy for new cars and brings Dongfeng EV models to customers with integrated sales, financing, and after-sales support.

Pony.ai, Toyota begin robotaxi rollout

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Pony.ai
Pony.ai said the first bZ4X robotaxi it co-developed with Toyota has rolled off the production line, marking a step toward mass commercial deployment. The companies plan to produce more than 1,000 vehicles in 2026 as Pony.ai expands robotaxi services across China’s major cities.

Luckin opens 30,000th store in China

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Luckin Coffee
Luckin Coffee has opened its 30,000th store in Shenzhen, debuting its first “origin flagship” focused on global sourcing and premium coffee. The milestone highlights the chain’s expanding scale and ambitions, while the new format reflects a shift beyond rapid expansion toward higher-end offerings.

Innovent, Eli Lilly sign drug deal

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Innovent Biologics
Innovent Biologics said it has reached an agreement with Eli Lilly to co-develop new oncology and immunology medicines. The deal includes USD 350 million upfront and up to USD 8.5 billion in milestone payments, with Innovent leading early development in China and Eli Lilly holding global rights outside Greater China.

Aito signs UAE distribution deal

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Aito
Aito has signed a partnership agreement with Performance Plus Motors, a subsidiary of Abu Dhabi Motors, to sell its high-end vehicles in the UAE. The deal covers sales, delivery, and after-sales service, supporting Aito’s entry into the Middle East as its models complete local certification and begin test drives.

Xiaohongshu tests OpenStoryline editor

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Sina
Xiaohongshu is testing OpenStoryline, its first AI-driven video editing platform. The agent-based tool lets users upload images and edit videos through conversation, with results said to be comparable to Dreamina’s Xiaoyunque and SenseTime’s Seko 2.0.

China’s digital services surplus hits record

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Bloomberg
China’s digital services trade surplus more than doubled to a record USD 33 billion in 2025, data from the State Administration of Foreign Exchange showed, as companies including Alibaba, Tencent, and ByteDance accelerated overseas expansion in cloud computing, e-commerce, and AI.

EU flags TikTok over “addictive” design

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The Paper
The European Commission said on February 6 that TikTok’s “addictive” platform design breaches the EU’s Digital Services Act, citing risks from features such as autoplay and infinite scrolling, particularly for minors. TikTok rejected the preliminary findings and said it plans to contest them.

Sunwoda, Geely unit reach settlement

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Securities Times
Sunwoda said its subsidiary Sunwoda Power has reached a settlement with Geely-backed Weirui Electric over a battery quality dispute. Sunwoda will pay RMB 6.08 billion for costs incurred through the end of 2025 and share subsequent expenses, with payments to be made over a five-year period.

Mihoyo reports bribery cases

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IT Zhijia
Mihoyo said it has uncovered multiple cases of commercial bribery and misconduct through internal investigations, reaffirming its zero-tolerance policy. Several former employees have received prison sentences, others were dismissed, and all implicated suppliers have been permanently blacklisted, with some cases referred to police for further investigation.

Vivo plans DJI Pocket-style camera

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Jiemian News
Vivo has reportedly launched an internal project to develop a video camera device positioned against DJI’s Pocket series. The product has not been officially named and is expected to be released this year.

Changan launches sodium-ion EV strategy

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Securities Times
Changan Automobile said it has launched a global strategy to deploy sodium-ion batteries across its passenger EV brands, using supply from CATL. At the announcement on February 5, it showcased the first vehicle equipped with the batteries, which has completed cold weather testing in Inner Mongolia and met requirements for range, safety, and low-temperature performance.  

Xpeng GX targets Level 4 autonomy

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Cailian Press
Xpeng’s first large six-seat SUV, the GX, will be equipped with four Turing chips delivering 3,000 TOPS of local computing power to support Level 4 autonomous driving. The system is undergoing technical validation, with camouflaged test vehicles already spotted on public roads in Guangzhou.

Tencent tests WorkBuddy desktop agent

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Wallstreet CN
Tencent has begun an internal beta of WorkBuddy, an agentic desktop tool developed by Tencent Cloud’s CodeBuddy team. Designed for non-technical users, WorkBuddy executes tasks through authorized local files rather than full system access.

Pony.ai partners Moore Threads

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MarketWatch
Pony.ai has partnered with Moore Threads to explore the use of the latter’s GPUs for Level 4 autonomous driving, marking its first mass adoption of Chinese-made semiconductors for training and simulation. The move aligns with Beijing’s push to reduce reliance on US chips and signals Moore Threads’ entry into the autonomous driving sector.

Alibaba rolls out Qwen promotion

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Guancha
Alibaba launched a RMB 30 billion Lunar New Year promotion on its Qwen app on February 6, kicking off with free milk tea for users who place orders through the app’s AI interface. Users can claim a RMB 25 voucher redeemable across Alibaba platforms, with more than one million drinks claimed within three hours.
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