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Chinese lemon tea brand Ningji has partnered with Thailand’s CP Group to support its Southeast Asia expansion, gaining access to CP’s supply chain and…

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Chinese lemon tea brand Ningji has partnered with Thailand’s CP Group to support its Southeast Asia expansion, gaining access to CP’s supply chain and retail network. The deal follows earlier backing from <a href="/company/tencent">Tencent</a>, <a href="/company/bytedance">ByteDance</a>, and Shunwei Capital.

FWD Group, backed by billionaire Richard Li, is seeking HKD 3.5 billion in a Hong Kong IPO by offering 91.3 million shares at HKD 38 each. Trading is set to begin on July 7, marking a long-awaited debut after a scrapped US listing in 2021 and multiple postponements. The deal is backed by Morgan Stanley and Goldman Sachs.

<a href="/company/nvidia">Nvidia</a> CEO Jensen Huang said <a href="/industry/robotics">robotics</a> is the company’s next priority after chips. Speaking to shareholders, he outlined plans to power billions of autonomous systems, including self-driving cars and robotic factories, expanding Nvidia’s focus to cover virtual simulation, motion training, and real-world deployment, among other areas.

<a href="/company/tesla">Tesla's</a> robotaxi pilot in Austin, Texas has revealed multiple issues, including erratic lane changes, abrupt stops, and unsafe alighting points, according to videos from riders. Despite the presence of safety monitors, the footage has drawn scrutiny from road safety experts and local officials. Tesla has not publicly addressed the incidents.

Koitake, a designer toy unit under Damai Entertainment (formerly Alibaba Pictures), has been shut down due to low revenue and limited market traction. The brand contributed just 2% of fiscal 2025 revenue for Hujing, <a href="/company/alibaba">Alibaba’s</a> rebranded digital media and entertainment division. The move aligns with a broader pivot toward live events and IP merchandising.

<a href="/company/nvidia">Nvidia</a> shares hit an all-time high on June 25, rising 4.3% to USD 154.31 and lifting its market cap to USD 3.77 trillion, surpassing Microsoft as the world’s most valuable public company. The chipmaker has gained 63% since April, fueled by strong earnings and sustained demand for <a href="/industry/ai">AI</a> infrastructure.

Microsoft and <a href="/company/openai">OpenAI</a> are at odds over a contract clause that would end Microsoft’s access to artificial general intelligence if OpenAI achieves it. Microsoft has pushed to remove the provision, but OpenAI has refused. Both companies said talks are ongoing and that they remain optimistic about continuing their partnership.

Toy manufacturers in Chenghai, China’s largest plastic toy hub, are ramping up production to meet holiday demand. The district exported RMB 10.24 billion in toys last year and now reports rising overseas orders despite higher freight costs to Europe and South America. US shipping rates have eased but remain 30% above early-year contract levels.

Chinese automaker <a href="/company/byd">BYD</a> signed a supply agreement on June 24 with Austrian steelmaker Voestalpine for its passenger vehicle plant in Hungary. The deal marks progress in BYD’s localization strategy as it expands production in Europe, the company said in a statement posted online.

Google has launched Gemini CLI, an open-source <a href="/industry/ai">AI</a> assistant that lets developers use natural language in terminal environments to code, create content, and automate tasks. Powered by Gemini 2.5 Pro, the tool is free for personal Google accounts and offers high daily query limits, with expanded access available through paid plans.

<a href="/company/grab">Grab</a> has paused planned changes to its driver incentive schemes after feedback from the National Private Hire Vehicles Association and drivers, who said the updates could reduce earnings and limit access to bonuses. The new system was originally set to launch on July 1 but has been put on hold for further review.

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Koitake, the IP-driven toy unit under Alibaba’s Hujing business, has been phased out as the tech giant shifts its attention to higher-margin verticals.

Alibaba dials back designer toy ambitions, shuts Koitake to sharpen focus

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Backed by science and athlete feedback, the brand’s new line aims to end the tradeoff between support and comfort.

Comfort and performance: Lululemon redesigns sports bras to help women go further

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China's Ningji partners with CP Group

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Alibaba dials back designer toy ambitions, shuts Koitake to sharpen focus

Comfort and performance: Lululemon redesigns sports bras to help women go further

Asia’s dollar hedging seen boosting regional currencies