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Pulses

Leapmotor enters Brazil and Chile

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Jiemian News
Leapmotor entered Brazil and Chile on November 25 and joined the Sao Paulo International Motor Show as it expanded into South America. The company introduced the C10 in EV and range-extended versions and the B10, and plans to open 36 sites across 27 Brazilian cities and five in Chile by 2025. It expects to expand next into Argentina, Colombia, and Ecuador.

Lenovo builds buffer for chip crunch

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Bloomberg
Lenovo is holding memory and other key components at levels about 50% above normal to manage an AI-driven supply crunch and rising prices. CFO Winston Cheng said the company will avoid passing on higher costs this quarter while keeping contracts in place to secure supply. Lenovo said it has enough memory for 2026 as industry warnings of shortages grow.

Didi, RoboSense partner on robotaxis

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RoboSense
Didi has partnered with RoboSense to integrate the EM4 digital LiDAR and E1 solid-state LiDAR systems into its next-generation robotaxi. The vehicle will use ten LiDAR units to extend perception and eliminate blind spots, forming a full-coverage sensing setup intended to support continuous, all-weather autonomous operations.

Moore Threads draws IPO rush

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Nikkei Asia
Moore Threads plans to raise RMB 8 billion in a STAR Market IPO, selling 70 million shares at RMB 114.28 for a valuation of RMB 53.7 billion. The online tranche was oversubscribed 4,126 times. Founded by former Nvidia exec Zhang Jianzhong, the GPU developer reported 182% revenue growth this year as China accelerates chip localisation amid US export restrictions.

China forms humanoid robot committee

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SCMP
Beijing has appointed Unitree Robotics founder Wang Xingxing and Agibot co-founder Peng Zhihui as vice directors of a new national humanoid robotics standards committee. The 65-member panel includes firms such as UBTech, Leju, Xiaomi, Huawei, Baidu, and Xpeng, as well as academic institutions, and is tasked with developing technical and safety standards and supporting international collaboration.

UBTech lands major contract

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UBTech Robotics
UBTech Robotics has secured a RMB 264 million contract in Fangchenggang, Guangxi, for a humanoid robot data collection and testing center and an AI education project, with Walker S2 deliveries scheduled for December. Orders for the company’s 2025 Walker series have reached RMB 1.1 billion in value, and UBTech began mass Walker S2 deliveries in mid-November.

Lei Jun boosts Xiaomi stake

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36Kr
Xiaomi founder and CEO Lei Jun has acquired 2.6 million shares for more than HKD 100 million, increasing his stake to 23.26%, according to a Hong Kong filing. Xiaomi also repurchased 21.5 million shares on November 20 and 21 for over HKD 800 million. The company’s cumulative 2025 buybacks have now exceeded HKD 2.3 billion.

Pony.ai joins Bolt for EU rollout

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Reuters
Bolt has partnered with Pony.ai to test and validate fully autonomous vehicles ahead of planned 2026 deployments for its European ride-hailing service. CEO Markus Villig said the company aims to be among the first EU platforms to offer driverless rides. The move comes as Chinese AV firms expand into Europe and as regulators maintain strict limits on higher-level autonomous systems.

Altman signals hardware progress

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CNBC
OpenAI CEO Sam Altman said the company has completed its first hardware prototypes, developed with former Apple design chief Jony Ive following OpenAI’s USD 6.4 billion equity acquisition of Ive’s startup. Ive expects a reveal within two years. Altman said the device is designed to provide a calmer, AI-driven experience that filters information and offers long-term, personalized assistance.

WeRide reveals Q3 growth results

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WeRide
WeRide reported Q3 2025 revenue of RMB 171 million, up 144.3% YoY, with robotaxi revenue rising 761% and gross margin improving to 32.9%. The company secured fully driverless permits in Abu Dhabi and Switzerland and expanded operations across Asia, Europe, and the Middle East. Cash, deposits, and investments reached RMB 5.4 billion as WeRide continued scaling its global autonomous driving network.

Hema launches partner growth plan

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36Kr
Hema, known internationally as Freshippo, has launched a plan to help ten partners reach more than RMB 1 billion in annual sales within three years and support 100 suppliers in tripling sales. The company has also opened franchising for its community supermarket brand for the first time, starting in Shanghai, Hangzhou, Jiaxing, and Huzhou with an annual fee of RMB 50,000.

Lucky Cup passes 10,000 stores

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Jiemian News
Lucky Cup, the budget coffee chain under Mixue Group, has surpassed 10,000 stores, supported by low pricing, franchising, and the group’s supply chain network. The brand expanded quickly after 2020 and opened its first overseas outlet in Malaysia this year. Its pace of growth narrows the gap with Luckin Coffee and Cotti Coffee in China’s increasingly competitive coffee market.

Agibot debuts robot customization platform

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Agibot
Agibot has launched the LinkSoul platform, offering modular tools to configure a robot’s voice, personality, behavior, memory, and task flows. Users can generate character profiles, script actions, and upload domain knowledge for deployment in homes, retail settings, and corporate venues. The platform aims to expand the range of everyday robot interaction.

GoTo nominates Hans Patuwo as CEO

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GoTo
GoTo has nominated Hans Patuwo to become CEO, pending approval at a December 17 shareholder meeting . He would replace Patrick Walujo, who has led the company since June 2023. GoTo said the transition follows a structured succession process and highlighted Hans’s experience across Gojek, GoPay, and on-demand services.

JD’s supply chain arm begins IPO push

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Bloomberg
Jingdong Industrials, JD.com’s supply chain technology unit, has begun investor education meetings for a Hong Kong IPO that could raise about USD 500 million, according to people familiar with the matter. Approved by Chinese regulators in September, the unit plans to use proceeds for AI upgrades, supply chain expansion, and future investments and acquisitions.

EHang completes Qatar flight demo

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36Kr Chuhai
EHang has completed a downtown Doha demonstration of its EH216-S autonomous passenger aircraft, flying point-to-point between Doha Port and Katara Cultural Village with support from Qatar’s transport and aviation regulators. The eight-minute route will inform policy development and precedes phased commercial plans for air taxi corridors and supporting infrastructure.

China expands trade ties with Tajikistan

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Reuters
China will expand imports of Tajik agricultural products and support Chinese investment in the country, said foreign minister Wang Yi during a visit to Dushanbe. He thanked Tajikistan for its support on China’s core interests and called for deeper cooperation in mineral development and bilateral security patrols.

Xiaomi open-sources MiMo-Embodied

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SCMP
Xiaomi has open-sourced MiMo-Embodied, a vision-language model that spans embodied AI and autonomous driving and has shown strong benchmark performance across planning and perception tasks. The launch follows recent AI-focused hires and comes as Xiaomi scales EV production and reports rising revenue and profit from newer businesses.

Sanzitang enters Sephora stores

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Jiemian News
Sanzitang, a Chinese eye makeup brand that went viral on Douyin, has entered Sephora with five products priced at RMB 49.9–59.9, though some online listings run as low as RMB 29.9. Its “two-prong” eyebrow pencil has sold more than 1.6 million units on Douyin and 4.6 million across platforms. Sephora said it will continue partnering with similar brands to broaden its assortment.

Moonshot AI nears new funding

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WSJ
Moonshot AI is in talks with investors including IDG Capital and Tencent on a funding round that could raise a nine-figure USD sum at a valuation of about USD 4 billion. The firm aims to close the deal by year’s end and has denied giving investors any IPO timeline. Moonshot is also expanding its Kimi model lineup with new open-source releases.
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