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Start-ups

Start-ups
Articles about early-stage companies; pre-IPO, including those still being funded by angel investors, private equity or venture capitalists.
MiniMax secured around US$350 million, or 56.5 per cent of the IPO, from 14 cornerstone investors to boost the offering’s profile. Photo: CFOTO/Future Publishing via Getty Images
IPO

Chinese AI start-up MiniMax shines on Hong Kong IPO debut

The shares opened 42.7 per cent higher from their IPO price to trade at HK$235.40, valuing the company at US$9.3 billion.

DeepSeek

Core team of Chinese researchers behind AI model R1 remains intact: DeepSeek

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Artificial intelligence

China to probe Meta’s purchase of Manus over export controls, tech concerns

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Artificial intelligence

DeepSeek to customise namesake chatbot for Italian users following probe

The firm agrees to a package of commitments, including tackling AI model ‘hallucination’ issues, with the Italian Competition Authority.

The Italian Competition Authority praised DeepSeek for committing to lower the hallucination rate of its AI models through technical fixes. Photo: Shutterstock
ByteDance

ByteDance boosts Shenzhen presence with ‘second headquarters’ for Douyin unit

The Chinese short video giant’s new base in Nanshan district was announced by the city’s publicity department on Tuesday.

Artificial intelligence

Shenzhen eyes bigger role in world robotics arena as firms vow to boost output

Premier Li Qiang urges faster adoption of robotics to benefit industries and households during a meeting with tech companies in Shenzhen.

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Artificial intelligence

China’s DeepSeek adds advanced ‘thinking’ feature amid buzz over next model

Hangzhou-based AI start-up installs ‘interleaved thinking’ as monthly users surge 90 per cent to nearly 131.5 million.

DeepSeek’s website and mobile app now offer multi-step research with “thinking” interspersed throughout the process. Photo: Shutterstock
Artificial intelligence

Chinese quant fund joins DeepSeek in AI race with LLM rivalling GPT-5.1, Claude

Beijing-based Ubiquant launches code-focused systems claiming benchmark wins over US peers despite using far fewer parameters.

Robotics

China’s humanoid robot makers, Hong Kong start-ups set to dazzle CES 2026

Nearly a dozen Chinese humanoid robot makers are expected at the trade show, while Hong Kong sends its largest-ever delegation.

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Artificial intelligence

China takes confident strides to develop more AI innovation in 2026

‘China’s tech innovation is poised for policy-driven growth in 2026, with AI placed at the centre of the country’s economic agenda,’ NYU’s Winston Ma says.

Illustration: Henry Wong
IPO

Biren surges, China military drills, CES technology show

This week: Biren Technology jumps on Hong Kong debut, PLA holds drills off Taiwan and factory activity returns to expansion. Next week: Chinese tech firms at CES, December CPI release, HSBC-Hang Seng Bank buyout vote, and more.

Photo: handout
Artificial intelligence

China’s Moonshot AI raises US$500 million in latest funding round: report

The Kimi AI model developer is now valued at US$4.3 billion, with cash reserves worth US$1.4 billion.

Artificial intelligence

China-founded Tripo AI updates 3D content platform as users more than double

‘This shows that we’re on the right track,’ founder and CEO Simon Song Yachen says.

Artificial intelligence

China-founded AI start-up Manus acquired by Meta for ‘billions’

Deal will bring Singapore-based Manus’ ‘leading agent to billions of people’, Meta says.

Since its launch, Manus has generated industry buzz for its capabilities as well as its limited and highly sought-after invitation codes. Photo: Shutterstock
IPO

China’s Zhipu AI launches US$560 million share sale amid heated IPO tech race

The company, marketed overseas as Z.ai, eyes US$6.6 billion valuation with Hong Kong’s first large language model listing.

Zhipu AI is moving closer to becoming the first large language model developer listed in Hong Kong. Photo: Shutterstock
Robotics

How a Chinese start-up is scaling 3D printing from sneakers to robots

Materials expert Wang Wenbin founded PollyPolymer in 2017 and developed a mature 3D-printing technology for footwear two years later.

Banking & finance

China launches venture capital fund to lead the charge on tech investment

The fund, which will put state-backed money behind early tech bets, could guide trillions of yuan in private capital to chosen sectors.

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Semiconductors

Chinese EV battery giant CATL and Guoxin Micro set up new automotive chip firm

The two companies expect to launch Tongxin Micro Technology as a developer of automotive domain controller chips.

Contemporary Amperex Technology makes another semiconductor-related investment. Photo: Shutterstock
Artificial intelligence

China’s AI toy boom: Huawei, JD.com, UBTech make big push into growing sector

China’s AI toy sector is forecast to expand to US$12 billion by 2030, up from US$3.5 billion this year.

Artificial intelligence

ByteDance, other major Chinese tech firms lead local consumer AI market: report

ByteDance-owned Doubao remains the country’s top consumer AI app, as DeepSeek’s namesake chatbot takes the No 2 spot.

Robotics

China’s AgiBot aims for US$142 million revenue as humanoid robots gain momentum

Fast-growing robotics start-up expects to ship out 5,000 units in 2025 amid Beijing backing of the embodied intelligence industry.

A customer communicates with an AgiBot humanoid robot at a car dealership in Shanghai. Photo: Reuters
Artificial intelligence

China’s Zhipu and MiniMax release latest AI models ahead of Hong Kong listing

The near-simultaneous release on Monday underscores the two firms’ efforts to drum up interest for their respective Hong Kong IPOs.

Zhipu AI, known internationally as Z.ai, says its new GLM-4.7 model features improved coding abilities. Photo: Shutterstock
TikTok

Exclusive | TikTok owner ByteDance’s valuation hits US$500 billion as US plan advances

Figure marks a record for China’s tech giant, which will divest its US entity into a joint venture that includes Oracle and Silver Lake.

IPO

Chinese GPU maker Biren kicks off bookbuilding for US$624 million Hong Kong IPO

The company, which is selling 247.7 million shares between HK$17 and HK$19.60 each, will become the first listing of 2026 on January 2.

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Artificial intelligence

SenseTime pushes open-source AI model to provide a ‘smart brain’ for every robot

The Chinese AI pioneer also releases first robot dogs under new venture Ace Robotics.

The first robot dog products unveiled on Thursday by Ace Robotics, a new venture of SenseTime. Photo: Handout
Robotics

CATL marks trailblazing deployment of humanoid robots at scale in China plant

The initiative underscores the growing use of intelligent Chinese-made robots in the country’s manufacturing industry.

Built by start-up Spirit AI, the Xiaomo humanoid robot works on the assembly line of electric vehicle battery giant Contemporary Amperex Technology. Photo: CATL
Artificial intelligence

Xiaomi launches open-source model to compete against DeepSeek, OpenAI systems

MiMo-V2-Flash ‘particularly excels in reasoning, coding and agentic scenarios’, Xiaomi says.

Artificial intelligence

OpenAI in talks to raise US$10 billion from Amazon and adopt Trainium chips

The deal is under discussion could value OpenAI upwards of US$500 billion, a source said.

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