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ChaPanda shares have fallen more than 69% since the company’s April 2024 IPO, closing at HKD 5.36 on June 2. The decline has reduced its market capita…

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ChaPanda shares have fallen more than 69% since the company’s April 2024 IPO, closing at HKD 5.36 on June 2. The decline has reduced its market capitalization by HKD 17.94 billion, while founders Wang Xiaokun and Liu Weihong’s holdings have lost HKD 14.84 billion in value.

<a href="/company/deepseek">DeepSeek</a> reportedly plans to raise about USD 7 billion in its first funding round at a valuation of up to USD 59 billion. <a href="/company/tencent">Tencent</a> and <a href="/company/catl">CATL</a> are expected to be the largest external investors, with <a href="/company/netease">NetEase</a> and <a href="/company/jd">JD.com</a> also expected to participate.

<a href="/company/alibaba">Alibaba Group</a> CTO Wu Zeming has joined the company’s five-member partnership committee, replacing retiring Shao Xiaofeng. The appointment raises the number of technology-focused executives in the top decision-making body to three. Wu previously led Taobao Shangou, which captured 45.2% of the market in Q4 2025.

Taobao has blocked nearly 100,000 <a href="/industry/ai">AI</a>-generated product images in one month using a new detection model. The <a href="/company/alibaba">Alibaba</a>-owned platform is tightening rules against misleading listings that do not accurately represent garment materials, fit, or quality, as consumers report growing distrust of AI-generated photos.

China Literature acquired an additional 28.22% stake in animation studio YHKT Entertainment for RMB 400 million, raising its ownership to 59.7%. The investment is intended to strengthen China Literature’s IP value chain by combining YHKT’s animation production capabilities with its own content library.

<a href="/company/huawei">Huawei</a> has incorporated principles of the “Tau scaling law” into the semiconductor technology used in the Aistaland GT7, reportedly achieving deterministic latency, or predictable response delay, of one millisecond. Introduced by Yinwang CEO Jin Yuzhi, the technology is designed to optimize processing time across four layers and improve vehicle performance through the Qiankun Chitu platform.

Didi reported a 21% YoY increase in gross transaction value, or GTV, to RMB 123.3 billion for Q1 2026. Adjusted EBITDA reached RMB 913 million, supported by a 13% rise in core platform transactions to 4.8 billion orders. International GTV grew 60% to RMB 37.6 billion, accounting for 30% of the company’s total.

<a href="/company/catl">CATL</a> opened a ten-hectare battery storage testing facility in Xiamen on May 28. It invested USD 440 million in the site to improve the safety and reliability of high-capacity products by simulating severe operating conditions.

Deep Robotics has filed for a Star Market IPO, with its prospectus showing quadruped robot sales reached 2,908 units in 2025. The filing said industrial adoption remains in a validation phase, with high costs and complex integration requirements delaying large-scale deployment compared with consumer electronics.

NBA star Stephen Curry has signed a ten-year endorsement deal with Chinese sportswear brand Li-Ning, giving the company a new path into the US market. The partnership covers basketball, athleisure, and golf products, as well as physical Curry Brand stores in the US and China. Curry ended a 12-year partnership with Under Armour in 2025.

Smart driving technology firm CalmCar has filed again for a Hong Kong IPO as liquidity tightens. It reported a 300-day accounts receivable turnover period and RMB 293 million in net operating cash outflow in 2025, leaving it with RMB 235 million in cash reserves.

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Cheng Zi is based in China, covering technology- and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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ChaPanda shares fall 69% since IPO

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