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ByteDance spins out drug discovery unit to test AI4S commercialization

4 mins read

Pulses

Kweichow Moutai to limit collaborations

just now
TMTPost
Kweichow Moutai will scale back cross-industry retail collaborations to focus on its core liquor business, chairman Chen Hua said at the company’s annual shareholder meeting. The company plans to prioritize base liquor production and maintain a supply-demand-based pricing strategy. Moutai also said it has no current plans for a stock split.

Alibaba bids USD 1.5 billion for Pupu

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36Kr
Alibaba is said to be bidding USD 1.5 billion to acquire Chinese fresh food delivery platform Pupu. The offer is reportedly more than double a previous valuation proposed by Sun Art Retail.

Xpeng plans Mona wagon

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IT Zhijia
Xpeng is developing a wagon model under its Mona series, according to leaked photos. The project has been confirmed internally, though the vehicle is not expected to launch this year.

Woodside buys PetroChina Browse stake

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CNA
Woodside Energy exercised its preemptive right to acquire PetroChina’s 10.67% stake in the Browse gas fields for USD 225 million, blocking a planned sale to Japan’s Inpex. The deal includes a USD 175 million contingent payment tied to a final investment decision by June 30, 2032. The acquisition would raise Woodside’s interest in the project to 41.27%.

CCCC wins USD 2.9 billion Kenya deal

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Business Insider
Kenya has selected China Communications Construction Company (CCCC) to lead a USD 2.9 billion upgrade of Nairobi’s Jomo Kenyatta International Airport. Construction is expected to begin this month, with funding from privatization proceeds and commercial loans. The project follows the cancellation of a previous proposal from Indian billionaire Gautam Adani’s company.

Nio launches refreshed Onvo L60

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Nio
Nio has launched a refreshed version of the Onvo L60 midsize electric SUV, with prices starting at RMB 192,800. The new model is priced below its predecessor and adds hardware and software upgrades, including new smart driving features. Deliveries are set to begin on June 12.

Huawei to launch HiCar 7.0

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IT Zhijia
Huawei will launch its HiCar 7.0 smart vehicle connectivity solution on June 13. The release is scheduled during Huawei's developer conference, which runs June 12–14.

Rokid faces privacy backlash before IPO

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TMTPost
Smart glasses maker Rokid is facing scrutiny after users uploaded unauthorized footage of bystanders to its community platform. The controversy adds privacy and regulatory risk to the company’s planned Hong Kong IPO, as investors weigh its camera-integrated display technology against intensifying competition in AI glasses.

Seres-backed Saidou launches Aiva

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DoNews
Seres-affiliated Saidou Technology has launched Aiva, a new AI-focused car brand, as Seres seeks to diversify beyond its Huawei partnership. The company plans to release its first mass produced model, the Aiva ME7, later this year. Aiva will work with ByteDance’s Volcano Engine on AI cockpit and large model technology, while ByteDance said it has no plans to manufacture vehicles.

Food delivery platforms share blacklist

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Lianhe Zaobao
Meituan, Taobao, and JD.com signed a self-regulation agreement in Guangdong on June 9 to establish a cross-platform blacklist for food delivery merchants. The initiative aims to impose joint restrictions on severely noncompliant vendors, meaning a serious violation on one platform could trigger restrictions across participating services.

J&T Express faces state investigation

just now
DoNews
China’s State Post Bureau said on June 11 that it has opened an investigation into J&T Express. The company acknowledged the probe, citing gaps in safety management across its franchise network. J&T has set up a task force to address safety risks, strengthen its four-tier responsibility chain, and improve frontline staff training.

Doubao phone lead exits ByteDance

just now
DoNews
Lin Xi, hardware product lead for ByteDance’s Doubao phone project, has reportedly left the company. Lin, a former Huawei executive who joined ByteDance in 2026, is the first hardware-focused leader to exit the project since it began in 2024.

Beijing regulators summon e-commerce platforms

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DoNews
Beijing’s market regulator summoned Taobao, JD.com, Pinduoduo, Douyin, and Xiaohongshu on June 11 over deceptive promotional practices. The agency cited issues including misleading subsidy campaigns, opaque rules, and insufficient merchant disclosure, ordering the platforms to rectify violations ahead of the 618 shopping festival.

Turkey suspends BYD perks, warns repayment

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Nikkei Asia
Turkey has suspended BYD's import tax exemptions and said incentives must be repaid if a USD 1 billion factory commitment is not fulfilled. The 2024 deal has seen no construction start, while BYD said the Turkey project is on hold while it prioritizes a Hungary plant. Turkish sales fell to 152 units in May from 3,866 in January.

Chen Yusen named DingTalk CEO

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36Kr
Alibaba announced a DingTalk leadership change on June 11, appointing Chen Yusen as CEO. Chen, a technology executive born in 1992, succeeds Chen Hang and becomes the youngest CEO of an Alibaba business unit.

TEMB reports Q1 revenue drop

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TMTPost
TEMB Intelligent Technology reported YoY declines in Q1 2026 revenue and profit ahead of its upcoming IPO review. The automotive parts manufacturer plans to raise RMB 2.06 billion, despite distributing nearly RMB 600 million in dividends during the reporting period, including payments to its controlling shareholders.

DJI alum says firm could be ten times larger

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TMTPost
DJI could have reached ten times its current scale if founder Wang Tao had invested earlier in departing employees, according to developer Lin Yuan. Lin, who helped build DJI from a struggling startup into a global leader, attributed the company’s success to its uncompromising, R&D-driven methodology.

JD.com to open first Hong Kong JD Mall

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JD.com
JD.com announced that its first JD Mall in Hong Kong will open in Wan Chai on June 18, marking its entry into the city’s physical retail market. The company plans to open another six to eight JD Mall locations in Hong Kong over the next three years.

Insta360 faces 227 million share unlock

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TMTPost
Insta360 faces a valuation test as 227 million restricted shares, representing 56.5% of its total equity, became eligible for trading on June 11. The unlock follows the company’s one-year IPO anniversary. With early investors sitting on sizable paper gains, the market is watching for selling pressure as competition and production costs rise.

CATL targets 50% energy storage sales

just now
Reuters
CATL expects energy storage to account for half of its global sales by 2030, up from about 25% now, as demand for grid-scale batteries grows. The company said EV batteries still make up about three-quarters of sales, while storage demand is being driven by the need to support intermittent renewable power.
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