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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 t…

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<a href="/company/alibaba">Alibaba</a>, <a href="/company/jd">JD.com</a>, and <a href="/company/meituan">Meituan</a> 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.

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.

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 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 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, 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 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&amp;D and marketing expenses.

<a href="/company/dreame">Dreame</a> 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.

The Maextro S800, a high-end sedan produced by Huawei and JAC Motors, has become China’s bestselling luxury car, according to <a href="/company/huawei">Huawei</a>. The company said the model accounted for one-third of high-end vehicle sales in China in April.

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 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.

Lenovo supplies laptops, PCs, smartphones, and data center solutions, supporting business productivity and personal computing across markets.

Lenovo

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Enterprise services is an over-arching term to describe an architecture combining engineering discipline and computer science to solve practical business problems. 

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The company stands to benefit as enterprise AI demand moves beyond raw compute toward integrated systems.

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

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Huawei, a global telecom and smartphone vendor, delivers networking equipment, 5G solutions, and consumer devices integrating cutting-edge tech.

The framework could help Huawei’s chips achieve 1.4-nm-equivalent transistor density by 2031.

Huawei proposes “Tau scaling law” to extend chip advances beyond Moore’s law

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T. K. Lin

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Alibaba, JD, Meituan eye Pupu deal

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

Huawei proposes “Tau scaling law” to extend chip advances beyond Moore’s law

Deals in brief: Secai Marche raises fresh funding, Singapore’s K25.ai secures at least USD 2 million, five China investments, and more