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Why world models must do more than simulate: Pony.ai CTO

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Meituan launches Qianniuhua Claw

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36Kr
Meituan launched Qianniuhua Claw on May 27, an AI-driven solution for quick commerce merchant operations. The package combines AI services and systems to help merchants, brands, and supply chain partners manage multiple stores, optimize operations, and improve business strategies.

ByteDance develops custom CPU chips

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CNA
ByteDance is designing custom CPUs to support its AI infrastructure and reduce reliance on external suppliers, according to sources. The TikTok parent is developing two chip designs based on Arm and RISC-V architectures. The push follows reported 10–35% price hikes for server chips from Intel and AMD.

CXMT passes IPO review

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Global Times
CXMT has received approval from the Shanghai Stock Exchange listing committee for its IPO. The Chinese memory chipmaker plans to raise RMB 29.5 billion, which could make it the second largest offering in the history of the Star Market after SMIC.

Chery to launch Emta in Japan

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DoNews
Chery and its partners will launch the Emta EV brand in Japan, with the first car model scheduled for release in spring 2027. The joint venture, which includes Autobacs Seven, plans to introduce four models by 2029 and establish up to 100 service and sales locations across the country.

CATL to invest in Seres’ Landian

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21st Century Business Herald
Seres subsidiary Landian Technology will receive RMB 6.67 billion in capital injections from three new investors, including CATL subsidiary Wending Investment. Following the deal, Seres will relinquish control of Landian, which will transition to equity method accounting.

Tencent rolls out Miora internationally

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36Kr
Tencent rolled out the international version of its AI-powered creative studio, Miora, on May 28. The platform integrates multiple visual AI models to support the generation of images, video, artifacts, interfaces, and 3D content. Miora is currently available for testing by invitation code.

iFlytek launches AI glasses

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36Kr
iFlytek launched its new AI glasses, priced at RMB 4,299. The device supports real-time translation for 122 languages in scenarios including face-to-face conversations and calls. It also features GlassClaw, an integrated AI agent that handles multimodal recording, meeting summaries, and automated task generation.

Tencent launches WorkBuddy globally

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36Kr
Tencent launched the international version of its desktop AI agent, WorkBuddy, on May 28. The tool features localized adaptations for overseas users and supports integrations with platforms including GitHub, Jira, Google Drive, and Slack via the MCP protocol, allowing users to execute tasks across services without switching contexts.

01.AI targets 2027 IPO

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Huxiu
01.AI CEO Kai-Fu Lee announced plans for a 2027 IPO and said the company aims to become profitable in 2026. The company reported more than RMB 1.5 billion in orders as of May and will issue 20 million additional stock options to staff as it shifts toward industrial AI applications.

Kuaishou Q1 revenue hits RMB 33.7 billion

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TMTPost
Kuaishou reported Q1 2026 revenue of RMB 33.7 billion, exceeding analyst expectations. Monthly active users reached a record 772 million, but live streaming revenue declined 13.5% YoY, while increased AI capital expenditures are adding margin pressure.

MagicDawn releases open-source rendering solution

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Tencent
Tencent Games launched MagicDawn’s NDGI, a cross-platform neural dynamic global illumination solution, on May 27. The real-time rendering system is now open source, giving developers access to its full solution and toolchain. MagicDawn also partnered with Roco Kingdom to enhance in-game lighting and worked with Arm to optimize AI inference for mobile GPUs.

Xiaomi cuts MiMo-V2.5 API prices

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IT Zhijia
Xiaomi has reduced pricing for its MiMo-V2.5 series APIs by up to 99%. MiMo head Luo Fuli said the cuts are supported by structural cost advantages in the company’s inference framework, allowing the service to remain at breakeven levels despite the lower rates.

Aito M6 deliveries top 20,000 units

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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

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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

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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

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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

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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

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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.
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