Tencent on Thursday launched an AI assistant app called Yuanbao, signaling the Chinese tech giant’s belated entry into the highly competitive artificial intelligence assistant field with an independent entry based on the company’s Hunyuan foundation model. Yuanbao integrates artificial intelligence-based search, summaries, and writing competencies, and can be used to analyze documents, and basically engage with people based on prompts. Why it matters: The opening of the independent app shows that Tencent has finally chosen to face competition head-on, several months after AI offerings from it ..read more

Chinese automaker Great Wall Motor has made the decision to shut down its European headquarters in Munich, Germany, and will dismiss about 100 employees before Aug. 31, when the closure will take effect, Automotive News Europe reported on Wednesday. A company spokesperson attributed the move to “tough market conditions” and the “very concrete threat of punitive taxes” on Chinese imports, adding that the automaker will supervise its regional operations remotely to sell cars via local distributors in countries such as Germany and the UK. The automaker, headquartered in the northern Chinese city ..read more

Developed by Korean firm Nexon and published by Tencent Games, the mobile version of Dungeon and Fighter has held the top spot on both the free and top-grossing games charts in the iOS App Store in China for ten consecutive days since its May 21 launch. Bloomberg reported on Wednesday that the game’s first-week revenue exceeded $140 million, citing data from consulting firm Niko Partners. “If the game maintains this momentum, it could continue to generate around one billion dollars in annual sales for Tencent Games,” Niko Partners analyst Xiao Feng Zeng said in the Bloomberg report. Dungeon a ..read more

Tesla is looking to meet regulatory registration requirements for its Full Self-Driving (FSD) software in China and begin testing the latest version of it on Chinese public roads, Reuters reported on Thursday, citing people with knowledge of the matter. If the US automaker manages to gain approval from China’s Ministry of Industry and Information Technology, it may roll out version 12 of the advanced driver assistance system (ADAS) in China this year, and allow owners to subscribe to the service at about $98 per month. The service now charges Chinese buyers a one-time fee of RMB 64,000 ($8,82 ..read more

On Wednesday, Chinese PC maker Lenovo announced a strategic partnership with Alat, a subsidiary under Saudi Arabia’s Public Investment Fund (PIF) focused on transformative technology investments and sustainable manufacturing, with Alat proposing a $2 billion zero coupon convertible bonds investment in Lenovo.  Lenovo will establish its Middle East and Africa (MEA) regional headquarters in Riyadh, the capital of Saudi Arabia, which will include a customer center and R&D center for the region. The company will also build a new manufacturing base for personal computers and servers in Sa ..read more

NIO’s power infrastructure network has continued to secure partnerships, as the company said on Thursday that it now offers owners of IM Motors vehicles access to more than 22,500 proprietary fast chargers across China. They can find the nearest NIO fast chargers in their locations and pay for charging by using their own apps, according to an announcement, in a similar arrangement to those with Changan, Geely, and Xpeng, among others. IM Motors, a premium electric vehicle brand launched by China’s SAIC, has four models on sale with a price range between RMB 199,900 and RMB 459,800 ($27,586-$6 ..read more

Chinese ride-hailing platform Didi on Wednesday posted a 14.9% year-on-year growth in first-quarter revenue as total trips increased 30.3% to 3.75 billion. Specifically, the number of trips taken reached record highs of 32.5 million and 8.7 million per day in China and overseas markets, respectively, compared with the 31.9 million and 8.5 million the company achieved in the previous quarter. Didi’s January-March comparable operating profit also improved to RMB 900 million ($124 million), although it reported a net loss attributable to shareholders of RMB 1.4 billion due to a reduction in inve ..read more

ByteDance, owner of TikTok and Douyin, reportedly has major initiatives underway for AI-powered hardware projects, with two key hardware divisions currently driving these efforts, according to a 36Kr report that cited several sources. The report stated that one team is codenamed “D line,” led by Li Haoqian, founder of open wearable stereo brand Oladance, which ByteDance acquired recently. The other group, dubbed “O line,” is a cross-functional team tasked with exploring AI-based consumer hardware products. According to the report, it works closely with ByteDance’s artificial intelligence soft ..read more

For the first time, BEYOND EXPO organizers hosted the SheTech Summit this year to celebrate the dynamism of women in technology. The panel brought together women leaders, showcased groundbreaking tech innovations, and prompted conversations on gender diversity in the tech industry. We highlight key takeaways from three panel discussions where successful female leaders shared their insights and experiences. Panel 1: The advantages of women leadership in tech and innovative companies Michelle Chen, co-founder and CEO of Biosyngen, leads the company’s operational oversight, strategic direction ..read more

China’s online retailer JD said it will hold a one-day 2 yuan ($0.28) campaign for millions of goods with free shipping during this year’s 618 event, set to begin on Friday, as cheap remains a main theme across the country’s e-commerce marketplaces and consumers care priorities. Why it matters: The market pressure that JD faces has now intensified as Pinduoduo, which operates on the principle of low prices and user-friendly after-sales service, continued to nibble away at what was once China’s second-largest e-commerce retailer by market capitalization. Rarely seen in public, founder Richard ..read more