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Luxeed has recruited a former Ferrari chief designer and a chassis tuning team with experience at BMW and Aston Martin, according to executive vice pr…

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Photo shows MiniMax’s Hong Kong listing ceremony on January 9, 2026.

MiniMax, a Chinese company, develops large models and generative AI tools. It is known for the Talkie chatbot and Hailuo AI, a multimodal AI platform.

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The company has hired advisors and signed a guidance agreement, but said any RMB share issuance remains preliminary.

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Luxeed has recruited a former Ferrari chief designer and a chassis tuning team with experience at BMW and Aston Martin, according to executive vice president Zhao Changjiang. The brand, part of the Harmony Intelligent Mobility Alliance (HIMA), currently offers the S7, R7, and V9 models and plans to expand its lineup.

ZTE has announced a partnership with <a href="/company/tencent">Tencent</a> to launch an <a href="/industry/ai">AI</a> cloud computer featuring the latter's WorkBuddy agent. The device integrates Tencent Cloud computing power and the Hunyuan large model, targeting students, professionals, and small teams.

Sany Heavy Industry and XCMG will raise prices for several crane models by 2–5% starting July 1. The companies cited rising raw material and manufacturing costs.

Chinese vehicle shipments to Australia surpassed Japanese imports in February, ending Japan’s 28-year lead in the market. In South Korea, <a href="/company/byd">BYD</a> sold 2,023 vehicles in April, marking the first time a single Chinese brand outsold the combined registrations of Lexus, Toyota, and Honda. China’s total car exports rose 61.5% YoY to 3.13 million units from January to April.

Fubei is seeking a Hong Kong IPO after reporting 2025 net profit of RMB 98.24 million, down more than 40% YoY. The company ranks second in China’s third-party pet food manufacturing market, but faces stagnant revenue growth and increased competition as it balances its ODM manufacturing business with its OBM operations.

LongBio Pharma closed its Hong Kong IPO on June 2 with a 4,470-fold oversubscription, setting a recent market record. The clinical-stage company, which develops allergy and autoimmune disease treatments, plans to use the proceeds to advance its LP-003 and LP-005 drug pipelines.

Anker Innovations has filed for an IPO on the Hong Kong Stock Exchange, appointing CICC, Goldman Sachs, and JPMorgan as joint sponsors. In Q1 2026, the company reported RMB 7.61 billion in revenue, up 26.93% YoY.

<a href="/company/jd">JD.com</a> has launched JoyAI-Echo, an open-source framework for long-form audio and video generation. The tool supports conversational editing and uses a memory-driven architecture to maintain character and voice consistency across videos up to five minutes long.

HongShan is in advanced talks to acquire a 45% stake in Leica Camera from Blackstone, in a deal that could value the German camera maker at about USD 1.2 billion. If completed, HongShan may also seek to acquire the remaining 55% stake held by Andreas Kaufmann.

PaXini Tech is working with banks on a potential Hong Kong IPO and could file in the coming months, people familiar with the matter said. The Shenzhen-based <a href="/industry/robotics">robotics</a> firm, backed by <a href="/company/byd">BYD</a> and <a href="/company/jd">JD.com</a>, raised over RMB 1 billion in March, valuing it at more than RMB 10 billion.

<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.

The financing is being viewed as a pre-IPO round, with Kling’s pre-money valuation equal to about two-thirds of Kuaishou’s market value.

Kuaishou’s Kling AI seeks fresh funding ahead of planned 2027 IPO

IPO Zaozhidao is a Chinese media outlet that provides timely coverage of IPO developments and related market signals.

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Photo shows CRP’s RHM-T1W wheeled humanoid robot on display at Hannover Messe 2026.

Embodied Intelligence

How does automation advance industry? Analyze robotic arms, drones, and AI-driven tools reshaping manufacturing and services.

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The company is moving beyond traditional robots into higher-value systems designed for smart manufacturing.

CRP advances Hong Kong IPO plan as it expands in industrial robotics

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Here’s a roundup of key developments across the Middle East for the week of May 24–30.

Middle East weekly: Invest Qatar concludes China roadshow, Core42 secures HSBC financing, Salwa REIT Fund launches, and more

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Luxeed hires Ferrari, BMW talent

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Kuaishou’s Kling AI seeks fresh funding ahead of planned 2027 IPO

CRP advances Hong Kong IPO plan as it expands in industrial robotics

Middle East weekly: Invest Qatar concludes China roadshow, Core42 secures HSBC financing, Salwa REIT Fund launches, and more