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Lenovo’s “AI factory” approach starts to show results

7 mins read

Pulses

Aito M6 deliveries top 20,000 units

just now
IT Zhijia
The Harmony Intelligent Mobility Alliance (HIMA) said deliveries of the Aito M6 exceeded 20,000 units in its first month on the market. The SUV, which launched on April 22 with a starting price of RMB 259,800, reached its first 10,000 deliveries within 19 days. The company plans to increase monthly production capacity to more than 20,000 units.

Alibaba, JD, Meituan eye Pupu deal

just now
TMTPost
Alibaba, JD.com, and Meituan are reportedly bidding for Pupu Supermarket, a frontend warehouse operator valued at USD 2–5 billion. A deal would help the companies expand regional logistics and fresh food delivery capabilities as quick commerce consolidates.

China Liangtse plans Hong Kong IPO

just now
Cailian Press
China Liangtse has signed a listing sponsorship agreement with Zhongtai International to pursue an IPO in Hong Kong. The company operates more than 400 locations and reports 300 million cumulative users. It aims to become the first listed dedicated foot massage service provider after more than a decade of planning and the establishment of a Hong Kong-based investment entity.

Joyy revenue rises 12.4% in Q1

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Joyy
Joyy reported Q1 2026 net revenue of USD 555.7 million, up 12.4% from USD 494.4 million a year earlier. The company’s social entertainment segment contributed USD 400.4 million, a 3.2% YoY increase.

FinVolution reports Q1 results

just now
FinVolution
FinVolution Group reported Q1 2026 net revenue of RMB 3.21 billion and net profit of RMB 421.1 million. Transaction volume in mainland China fell 21.6% to RMB 38.5 billion, while its overseas segment grew 36.7% to RMB 4.1 billion. The company reiterated its full-year 2026 revenue guidance of RMB 11.5 billion to RMB 12.9 billion.

Peng Zhihui named Swancor chairman

just now
IT Zhijia
Peng Zhihui, CTO of Agibot, has become chairman of Swancor following a business registration change. Peng, 33, now leads a board that includes four other key team members from Agibot. He previously worked at Oppo and Huawei before co-founding Agibot in 2022.

Unitree sets IPO review date

just now
DoNews
Unitree Robotics will undergo a Shanghai Stock Exchange listing committee review on June 1 for its proposed IPO. The company seeks to raise RMB 4.2 billion. In Q1 2026, Unitree reported revenue of RMB 423 million, up 68.49% YoY, while operating profit fell 54.59% to RMB 49.14 million due to higher R&D and marketing expenses.

Dreame names Cristiano Ronaldo ambassador

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Dreame
Dreame has appointed professional footballer Cristiano Ronaldo as its global brand ambassador. The company, which generates the majority of its revenue overseas, also works with actress Liu Yifei as its smart home appliance ambassador.

Maextro tops China luxury car sales

just now
NYTimes
The Maextro S800, a high-end sedan produced by Huawei and JAC Motors, has become China’s bestselling luxury car, according to Huawei. The company said the model accounted for one-third of high-end vehicle sales in China in April.

HKEX declines comment on futures plan

just now
Jiemian News
Hong Kong Exchanges and Clearing (HKEX) declined to comment on whether it has begun researching computing power futures. The response follows CME Group’s announcement that it plans to launch an AI compute futures market this year.

CXMT chairman pledges shares to staff

just now
IT Zhijia
CXMT chairman Zhu Yiming will distribute 768 million shares to employees over ten years following the company’s IPO. Zhu also committed to a ten-year lockup period for his remaining holdings. The company plans to raise RMB 29.5 billion in its IPO and reported Q1 2026 revenue of RMB 50.8 billion.

Everest Medicines drug wins Korea approval

just now
Jiemian News
South Korea’s Ministry of Food and Drug Safety has approved Everest Medicines’ new drug application for Velsipity. The treatment is indicated for adults with moderate to severe active ulcerative colitis who have had an inadequate response to, or intolerance of, conventional therapies or biologics.

Sinrobot launches Beijing IPO

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Economic Daily
Sinrobot launched its IPO on the Beijing Stock Exchange on May 25. The company expects to raise net proceeds of RMB 139.69 million to fund production upgrades, R&D, and working capital. Zhang Jizhou, the company’s controlling shareholder and actual controller, holds 54.51% of its voting rights.

Infinite Mining files for HK IPO

just now
Huxiu
Infinite Mining, a provider of autonomous mining transport solutions, filed for a Hong Kong IPO on May 20. The company reported 2025 revenue of RMB 527 million, up 246.7% YoY, and achieved a positive gross margin of 4.8%. It also recorded cumulative losses of more than RMB 800 million over the past three years and faces high customer concentration.

JD.com eyes Very Group bid

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Guandian
JD.com is considering a potential acquisition of UK online retailer The Very Group for about GBP 2 billion. The Very Group, which operates brands including Very and Littlewoods, reports annual revenue of about GBP 2.1 billion and offers flexible payment services through Key Pay.

Demumu launches elderly monitoring service

just now
IT Zhijia
The Demumu app has rebranded and launched as a senior monitoring platform in Nanxing, Hangzhou. The service includes daily check-ins, an SOS button, and a physical safety device for seniors without smartphones. It connects with community emergency services to provide a 15-minute response time for elderly residents.

xFusion files for Shenzhen IPO

just now
The Paper
Server manufacturer xFusion has filed for an IPO on the Shenzhen Stock Exchange, aiming to raise RMB 8 billion. The company, which was spun off from Huawei, reported 2025 revenue of RMB 58.2 billion and net profit of RMB 1 billion. Proceeds will fund product and technology R&D.

Proya to acquire majority of Flower Knows

just now
36Kr
Proya Cosmetics will acquire an additional 12.5479% stake in Flower Knows for RMB 351 million, increasing its total ownership to 51%. The deal values the makeup brand at RMB 2.83 billion and will allow Proya to consolidate Flower Knows into its financial statements as it seeks new growth drivers amid slower growth at its core brand.

AutoFlight targets V5000CGH certification

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AutoFlight
AutoFlight has begun the airworthiness certification process for its V5000CGH cargo hybrid eVTOL aircraft. The move follows the completion of a three-aircraft formation demonstration flight. The V5000CGH has a 1.5-ton payload capacity, a 1,500-kilometer range, and a cruise speed of 280 kilometers per hour, targeting heavy-duty logistics and emergency response applications.

JAC Motors posts sixth quarterly loss

just now
21st Century Business Herald
JAC Motors reported a Q1 2026 net loss of RMB 606 million, with losses widening 171.74% from a year earlier. It was the company’s sixth consecutive quarterly loss, despite a 16.91% increase in revenue to RMB 11.46 billion. Operating cash flow fell 201.47% to negative RMB 3.9 billion.
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