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Vanke losses increase as Chinese cities implement new property measures
State-backed developer China Vanke reported widened losses for the first half of 2026 as the company struggled to repay its debts. The financial downturn persisted despite the implementation of new property measures across Chinese cities. These losses highlighted the ongoing challenges in reversing the country's broader real estate slump.
Unitree Robotics shares rebound following market decline
Shares of the Hangzhou-based humanoid robot manufacturer Unitree Robotics rose nearly 4 percent to close at 615 yuan on Thursday, following a five-day decline that erased 200 billion yuan in market value. The stock had previously dropped 48 percent from its August 19 debut peak of 1,100 yuan to a record low of 571 yuan on Wednesday. As mainland China's first listed humanoid robot maker, Unitree serves as a valuation benchmark for private embodied-AI unicorns like Galbot. Industry analysts, including Dong Chen of Bank J. Safra Sarasin, questioned the company's valuation, citing high price-to-earnings ratios and intensifying competition in an infant industry.
Chinese companies face challenges in commercializing robotics technology
At the August 2026 World Robot Conference in Beijing, industry participants demonstrated advanced robotics capabilities, including object manipulation and navigation, while acknowledging significant difficulties in commercializing these technologies for real-world environments. Companies such as X Square Robot and Lumos Robotics reported challenges in achieving reliable performance in unpredictable settings, such as homes and factories, noting that robots require complex physical world data rather than just digital information. Suppliers like Kinco Automation observed a market shift away from performance-based demonstrations toward a demand for mass-production consistency and commercial viability.
Chinese mutual fund assets decline by 560 billion yuan in July
In July, assets managed by China’s mutual funds fell by 560 billion yuan, a 1.4 percent decline that ended four consecutive months of growth and brought total assets to 39.11 trillion yuan. The Asset Management Association of China reported that this contraction coincided with a sell-off in semiconductor shares, specifically impacting the chip-heavy Star 50 Index, which dropped nearly 26 percent during the month. Conversely, China’s private funds reached a record 25.73 trillion yuan in assets, marking 10 consecutive months of expansion as investors sought to diversify their portfolios.
Akeso reports positive phase 3 results for cancer drug ivonescimab
Chinese biopharmaceutical firm Akeso announced that its immunotherapy drug, ivonescimab, outperformed AstraZeneca’s Imfinzi in a phase-three trial involving 682 patients with advanced biliary tract cancer. The study showed that patients receiving ivonescimab alongside chemotherapy experienced longer survival rates compared to those treated with the AstraZeneca regimen. This development marks the first positive phase-three result for the drug in gastrointestinal tumors, which the company suggested could lead to wider applications for treating solid tumors.
China industrial profit growth slows to 11.2% in July
China’s industrial profit growth decelerated to 11.2% in July, marking the weakest expansion pace for the year according to National Bureau of Statistics data. While industrial profits for the first seven months of 2024 increased by 17.6%, this figure represented a decline from the 18.7% growth recorded in the first half of the year. This shift followed a period of recovery driven by the global artificial intelligence boom and an increase in manufacturing demand for computing and electronics equipment. Despite this, factory-gate inflation slowed to a three-month low of 3.5% in July, as domestic demand remained sluggish and the effects of global energy costs on price recovery began to wane.
Prudential reports profit growth and announces US$300 million share buy-back
British insurer Prudential announced a US$300 million share buy-back to be completed by December after reporting an 8 per cent increase in new business profit for the first half of the year. The company reached US$1.38 billion in new business profit and an adjusted operating profit of US$1.81 billion, while annual premium equivalent sales rose 3 per cent to US$3.42 billion. These results occurred alongside market concerns regarding a potential decline in mainland Chinese visitors to Hong Kong, a development that could impact the performance of insurers in that key market.
Two Chinese robotics firms plan Hong Kong IPOs
Two Hangzhou-based robotics start-ups, both founded by former Alibaba executives, announced plans to pursue initial public offerings in Hong Kong as early as 2027. Infiforce Technology Group, which developed the “AtomBrain” cognitive system, recently secured nearly 1 billion yuan (US$149 million) in funding and signed a contract for 1,000 units in Saudi Arabia. These listings represented part of a broader trend among Chinese embodied artificial intelligence firms seeking to scale production through Hong Kong's capital markets.
MiniMax reports 283 percent revenue growth for first half of year
Chinese AI firm MiniMax reported a 283 percent revenue increase to US$116.6 million for the first half of 2026, a growth trajectory driven primarily by a 703 percent surge in its enterprise-facing business. Despite this expansion, the company's revenue accounted for only 32 percent of the US$363.77 million full-year forecast provided by analysts, while adjusted net losses widened by 111.2 percent to US$293 million. Enterprise services now represent 63.4 percent of total revenue, up from 30.3 percent during the same period the previous year.
Haidilao reports revenue growth driven by takeaway services
China’s largest hotpot chain, Haidilao International Holding, reported that its takeaway segment grew by 121.2 percent year-on-year to 2.05 billion yuan (US$305 million) during the first half of the year. While total revenue rose 7.9 percent to 22.34 billion yuan and net profit increased 0.5 percent to 1.77 billion yuan, the results occurred amid a weak macroeconomic environment and intense competition. The takeaway segment’s share of total revenue climbed to 9.2 percent, up from 4.5 percent in the previous year, as the brand saw increased demand for single-serving meals.
Laopu Gold reports slowing growth and announces global expansion plans
Chinese jewelry brand Laopu Gold reported first-half earnings that missed analyst forecasts amid a period of industry-wide headwinds. Despite the slowing growth, the company downplayed the results and emphasized its resilience as a luxury brand. To navigate these challenges, Laopu Gold announced plans to pursue global expansion.
Nigeria's Exports to China Increase by 81% Following Tariff Removal
Between January and June 2026, Nigerian exports to China reached US$2.25 billion, an 81% increase compared to the same period in 2025. This growth followed Beijing's decision on 1 May 2026 to remove tariffs on products from 53 African countries, a measure outlined in the Forum on China-Africa Cooperation action plan. While total two-way trade rose 35% to US$17.4 billion, Chinese direct investment in Nigeria also doubled to US$690 million. These figures were provided by Yan Yuqing, China’s Consul General in Lagos, citing Chinese statistics.
DeepSeek nears US$74 billion funding round ahead of potential Shanghai IPO
Hangzhou-based AI start-up DeepSeek reached a valuation of approximately US$74 billion as it approached the completion of a 50 billion yuan funding round. The investment round included existing participants such as Monolith and Shixiang Capital, alongside new investors including CATL, CPE, Legend Capital, and entities linked to GigaDevice and Hefei state investment vehicles. The company initiated preparations for a potential listing on Shanghai’s Star Market, with a possible IPO filing by the end of the year and a market debut targeted for 2027.
Chinese biotech firms develop cancer vaccines following Moderna trial results
Hong Kong-listed biotechnology companies, including Jiangsu Hengrui Pharmaceuticals and CK Life Sciences, experienced stock price surges following a successful phase three trial of an mRNA cancer vaccine by Moderna and Merck. This trial, involving approximately 1,140 patients, demonstrated the vaccine’s ability to reduce the risk of melanoma returning or spreading. Chinese firms responded by advancing a pipeline of more than 100 cancer vaccine programs to address the mortality rate of nearly 2.6 million cancer deaths in China annually.
BYD Fangchengbao off-road EV brand triples sales in China
BYD's off-road electric vehicle brand, Fangchengbao, tripled its sales year-on-year during the January-July period. This performance occurred against a backdrop of slowing overall growth for the Chinese automaker. To sustain this momentum, the company displayed the brand's first sedan at a motor show in Chengdu, signaling a shift in the product lineup.
Mongolia offers incentives to attract data center investment
During the UN Convention to Combat Desertification (COP17) held in Ulaanbaatar, the Mongolian government signed agreements for 863 megawatts of data center capacity to position the nation as a global digital hub. Officials including Deputy Prime Minister Togmid Dorjkhand, Prime Minister Nyam-Osor Uchral, and Digital Development Minister Chinbat Nomin promoted the country's low energy costs, cold climate, and legal framework as key competitive advantages. The initiative, titled 'Sovereign by Design,' seeks to attract international and domestic private-sector investment by offering energy prices below 4 cents per kilowatt-hour and potential returns of approximately 18%.
Alibaba chair buys another 720,000 company HK shares
Alibaba Chairman Joe Tsai purchased 720,000 Hong Kong-listed shares for approximately HK$82 million on August 23, following the company's launch of an HK$80-billion share sale. Together with CEO Eddie Wu, Tsai invested over HK$200 million in company shares over a two-day period. Additionally, founder Jack Ma increased his holdings by more than HK$600 million as a display of confidence in the firm's AI prospects.
Hong Kong exports rise 50.7 percent in July driven by AI-related electronics
Hong Kong's merchandise exports increased by 50.7 percent year on year in July to a total value of HK$672.5 billion, following a 53.4 percent rise in June. The Census and Statistics Department reported that this growth was driven primarily by strong demand for artificial intelligence-related electronic products. While imports also rose by 41 percent to HK$677.4 billion, the city recorded a trade deficit of HK$4.9 billion for the month.
Shein IPO order book reportedly covered for US$1.8 billion in Hong Kong
Online fast-fashion retailer Shein secured full coverage for its US$1.8 billion initial public offering in Hong Kong, with investor demand supported by existing shareholders, China-focused funds, and multi-strategy funds. The company, which is valued at up to US$27 billion for this offering, plans to price its 280 million shares on August 31 before trading commences on September 1. This IPO follows previous unsuccessful attempts to list in New York and London amid investor and political criticism regarding the company's labor, environmental, and governance standards.
Xpeng shares decline following weak delivery forecast
Xpeng shares dropped more than 9% in Hong Kong and 8.5% in the U.S. following the company's projection of 115,000 to 121,000 vehicle deliveries for the third quarter, which fell short of investor expectations. The company reported a second-quarter net loss of 1.34 billion yuan, with Citi attributing the delivery guidance miss to supply chain constraints impacting the MONA L03 model ramp-up. Simultaneously, Xpeng’s robotics unit secured a $6.3 billion valuation after raising $900 million in a funding round led by IDG Capital with support from Tencent and Alibaba. Despite the financial performance in the EV sector, the company maintained its long-term focus on integrating AI, algorithms, and chips into humanoid robotics.
Hong Kong to update senior secondary science and mathematics curriculum by 2029-30
Hong Kong’s Education Bureau announced a plan to update the senior secondary science and extended mathematics curriculum by the 2029-30 academic year. The bureau requested that schools encourage students to study two or more science subjects to foster a synergistic effect and address the needs for innovation and technology talent. This initiative was explicitly aligned with the nation’s 15th five-year plan to invigorate the country through science and education, supporting Hong Kong's role as an international innovation and technology centre.
LandSpace completes first vertical landing of a reusable rocket in China
On August 19, LandSpace successfully completed China’s first vertical landing of a reusable rocket, marking a milestone for the commercial space sector. The achievement followed an eight-month recovery process after a failed test in December and involved chief commander Dai Zheng, who joined the start-up in 2016 after leaving his position at the state-owned China Academy of Launch Vehicle Technology. This successful touchdown validated the strategy of using reusable launch vehicles to reduce costs for space missions. The development supports Beijing’s broader ambitions to deploy massive satellite constellations.
Xpeng robotics subsidiary raises US$900 million in funding
Xpeng’s robotics subsidiary, Dogotix, secured US$900 million in a private-equity funding round, resulting in a valuation of US$6.3 billion. The investment included US$600 million from backers such as Alibaba Group Holding, Tencent Holdings, IDG Capital, and Gaorong Ventures, alongside a US$200 million contribution from Xpeng. This capital infusion occurred despite Xpeng reporting a 179% increase in second-quarter net losses to 1.34 billion yuan. The funding aims to support Xpeng's development of humanoid robots and physical AI technologies to compete globally with firms like Tesla.
China Energy Group begins full operations at coal-to-liquids plant
China Energy Group Ningxia Coal Industry Co Ltd commenced full operations at the world’s largest coal-to-liquids plant in China’s Ningxia Hui autonomous region. The facility processed 24 million tonnes of coal in 2025, utilizing indirect coal liquefaction to produce rocket fuel and machine lubricants. The operational shift was driven by rising international oil prices exceeding US$100 per barrel following the blockage of the Strait of Hormuz during the US-Israel war on Iran.
Educational group leases Kowloon tower to meet demand from immigrant families
A Hong Kong-listed educational group leased the entirety of Tower B at the China Life Centre in Hung Hom, Kowloon, to develop a 36,400-square-foot education complex. According to property consultancy CBRE, this deal represented the largest commercial property leasing transaction in Hong Kong for the current quarter. The expansion was triggered by a surge in demand for schooling from immigrant and expatriate families relocating to the city. The unidentified tenant, which operates top-tier non-tertiary schools in mainland China, utilized this lease to finalize long-standing plans to establish a presence in Hong Kong.
Alibaba launches Wan3.0 AI video model after $10 billion share sale
On August 24, Alibaba officially launched its Wan3.0 AI video generation model following the announcement of a $10 billion share placement. The new model, capable of converting documents and spreadsheets into 30-second videos, has already been utilized in sectors including film production, advertising, and tourism. This product rollout occurred as the company increased capital expenditure for the global AI race, which contributed to a 75 percent decline in quarterly earnings reported the previous week.
ESG analytics startup MioTech plans 2028 IPO following China merger
Software firm MioTech merged with a unit of China's largest credit rating agency to prepare for a public listing in Hong Kong in 2028. The startup utilizes AI software to assist businesses with ESG reporting and sustainable supply chain management. In addition to the recent Chinese merger, the company reported that it was considering a potential partnership with a European entity.
John Lee encourages start-ups to use Hong Kong as a business gateway
Hong Kong Chief Executive John Lee Ka-chiu addressed the first Global Unicorn Summit, where he encouraged global enterprises and startups to utilize Hong Kong as a business gateway. Lee positioned the city as a 'superconnector' that links mainland China with the international market by leveraging its common-law system, low-tax environment, and capital markets. He noted that the city hosted over 11,000 companies and 5,200 startups as of last year, with 20 unicorns incubated over the previous decade.
Alibaba raises US$10.2 billion in Hong Kong share sale
Alibaba Group Holding raised US$10.2 billion by selling 710 million new shares at HK$112.70 each in a primary share issuance on the Hong Kong stock exchange. The offering, which represented approximately 3.7 percent of the company's total outstanding shares, was designed as an artificial intelligence-dedicated fundraising effort. The sale was nearly three times oversubscribed with US$28 billion in demand, drawing anchor investment from sovereign wealth funds across the Middle East, Europe, and Asia.
Alibaba shares fall 8% after $10 billion Hong Kong share sale
Alibaba shares dropped 8 percent in Hong Kong on August 24 following the company's finalization of a $10.21 billion share placement at a price of HK$112.70 per share. This transaction, which issued 710 million new shares at an 8.4 percent discount, represented the largest primary follow-on offering by a Hong Kong-listed company. The capital raise was intended to fund artificial intelligence-related infrastructure and development, a sector in which the company previously reported a 75 percent decline in quarterly net profit due to increased investment spending.
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