Markets

Baidu Hot Search and CSM released their 2025 Mid-Year Report, analyzing trending topics in China. The platform, with 170 million users, aggregated 55,000 topics and 910 million clicks in H1. News and information remain central, but niche interests are growing. The report highlights Baidu Hot Search’s role in disseminating verified information on key events like the “315 Gala” exposé and the Guizhou Rongjiang floods, showcasing rapid response and comprehensive coverage. The platform consolidated official statements and authoritative responses to various social issues.

Tencent’s QQ is testing a new feature enabling seamless transfers between QQ Wallet and WeChat Pay accounts, found in the QQ 9.2.5 beta. Users can transfer funds between the two platforms with real-time transfers and no fees. Transfers from WeChat Pay to QQ have been possible since 2020. QQ is also integrating WeChat Pay into social payment scenarios and streamlining its user experience, focusing on core functionality and leveraging existing strengths like WeChat mini-programs.

Ardagh Group S.A. has announced a comprehensive recapitalization agreement with key financial players, including its controlling shareholder and a significant creditor coalition. The deal slashes $4.3 billion in debt via a debt-for-equity swap, extends bond maturities to 2030, and injects $1.5 billion in new capital. Ownership will transfer to noteholders, while Ardagh retains its Glass and Metal Packaging businesses. The transaction, expected to close by September 30, 2025, is subject to regulatory approvals.

In a CNBC AI News interview, Fengxue Weilai founder Zhang Xuefeng addressed rumors of earning massive profits, clarifying that revenue isn’t profit. He dismissed critics, stating they misunderstand him and his livestreams. Zhang emphasized the importance of intrinsic motivation over financial targets or external validation, advising against pointless comparisons and mistaking results for the true goal, highlighting the value of the journey and personal growth. He sees getting into top universities as a result of hard work, not the ultimate objective.

A parking dispute in Qingdao, China, escalated when a woman’s car was vandalized after being parked overnight on a street used by vendors. The woman, acknowledging potential parking violations, condemned the property damage. The incident, now under investigation, highlights tensions between residents, informal businesses, and urban regulations. Online debates reflect differing views on parking rights, vendor livelihoods, and the legality of property damage, raising concerns about balancing urban needs and enforcing the law.

Xpeng Motors announced Xu Yizhen, a popular short drama actress, as a new owner of the Xpeng G7, a mid-size SUV launched in July. A promotional video features Xu testing the G7’s features, including its air conditioning, which the company claims outperforms Tesla’s in cooling speed and ventilation. CEO He Xiaopeng personally delivered the car, emphasizing the spacious interior and large cargo area. The partnership highlights Xpeng’s marketing strategy and the growing influence of short-form video in China.

Truecaller (TRUBF) continues its share repurchase program, buying back 145,000 B shares in week 30, 2025, at an average price of 53.19 SEK. Since May 30, 2025, they’ve reacquired 400,000 shares (0.11% of outstanding capital). The program, authorized until the 2026 AGM, allows repurchasing up to 10% of outstanding shares. Truecaller now holds 4,345,332 B shares and 5,013,786 C-shares, representing 2.65% of outstanding capital, leaving 344,390,935 shares outstanding.

The 2025 World Artificial Intelligence Conference (WAIC) showcased a shift in focus from Large Language Models (LLMs) to embodied intelligence, particularly humanoid robots. The event, touted as the “largest WAIC ever,” featured over 800 exhibitors. While humanoid robots drew huge crowds and high ticket prices, some insiders noted a “playing it safe” approach, prioritizing fundraising over groundbreaking innovation. LLM companies, while still present, appeared more subdued, focusing on practical applications and revenue generation, with many aiming for “¥1 billion in revenue.” Concerns linger about a potential bubble, especially in embodied intelligence.

A public dispute has erupted in China’s tech sphere after iFlytek Chairman Liu Qingfeng’s skepticism about Elon Musk’s AI understanding was questioned online. A Xueqiu user criticized Liu’s remarks, prompting hedge fund manager Dan Bin to rebuke Liu’s perceived arrogance. This incident follows Dan Bin’s history of outspoken commentary and public disagreements within the finance and tech industries, including past controversies involving investments and market views.

Faraday Future (FFAI) celebrated its 4th public listing anniversary with a business update from Founder YT Jia, highlighting over 10,000 paid pre-orders for the FX Super One MPV. Jia emphasized the Super One’s innovative features, including its “First Class EAI-MPV” category, AI capabilities, and focus on safety and luxury. The company showcased the FX Super One and FF 91 on Capitol Hill, advocating for American manufacturing and innovation. Faraday Future is also exploring Web3 applications and will present the FX Super One at Pebble Beach.