Markets

Xiaomi will launch its luxury YU7 SUV on June 26th, targeting the “elite” market. The SUV will feature advanced technology, including LiDAR, an 800V platform, a panoramic display, and a high-capacity battery. The YU7 aims to redefine intelligent SUV standards and rival high-end models, with a likely starting price above RMB 250,000, positioning it as a premium offering rather than a budget vehicle.

Ares Management Corporation is investing €2 billion for a 20% stake in Plenitude, a European energy transition leader controlled by Eni, valuing the company at €12 billion. Plenitude operates in 15 countries, with a significant renewable energy capacity and EV charging infrastructure. Ares’s Alternative Credit funds are leading the investment, supporting Plenitude’s growth strategy.

Tencent has received regulatory approval for “Tencent Brain Training,” its digital therapeutics software for mild cognitive impairment, marking its sixth medical device registration. This gamified software, prescribed by physicians, employs interactive tasks to enhance cognitive function, targeting the large population in China experiencing this condition. This non-pharmacological intervention aims to improve patient quality of life and potentially reshape treatment approaches for cognitive decline.

The 8th 616 Global Cross-Border E-commerce Festival in Shenzhen concluded, drawing 89,000 attendees. FlyPay, a leading payment service provider, showcased its global payment solutions, including one-stop integration and global receivables management. FlyPay received the “Sunshine Protection Award” for its comprehensive services and commitment to simplifying cross-border business for SMEs. The company plans continued innovation to enhance global payment experiences.

快手电商在618购物节期间实现了显著增长，得益于其全域增长策略。平台“货架”模式GMV增长53%，搜索驱动GMV增长143%。直播带货持续发力，带动内容生态GMV增长29%。中小企业销售额增长30%，高价商品销售额也大幅提升。 快手电商通过促销、补贴等方式大力扶持商家，促进平台整体业绩增长。

Minjee Lee secured her third major championship at the KPMG Women’s PGA Championship using Callaway equipment. Her winning performance featured an Elyte Driver, Chrome Tour X Golf Ball, and Odyssey Ai-ONE putter. Callaway was the leading driver brand, with the Chrome Tour X ball playing a crucial role. The victory adds to the Chrome Tour’s major wins, showcasing Callaway’s dominance in professional golf.

Alibaba Group CEO announced Ele.me and Fliggy’s immediate integration into the China Digital Commerce Group, aiming to become a comprehensive consumer platform. While maintaining operational independence, they will align with the Group’s goals. This strategic move leverages the success of Taobao Flash Sale, which has seen significant growth and high fulfillment rates, especially during the 618 shopping festival. The consolidation is expected to enhance Alibaba’s consumer services and potentially reshape the retail landscape.

HFI Innovation, a MediaTek subsidiary, has sued five Huawei subsidiaries in Europe’s UPC, alleging infringement of a key LTE patent. This follows Huawei’s earlier lawsuits against MediaTek in China and the UK, along with counter-suits from MediaTek. The disputes involve 4G/5G patents and FRAND rate negotiations, highlighting the intensifying patent battles and the importance of intellectual property in the telecom industry.

Moonshot AI launched Kimi-Researcher, its first autonomous AI agent, currently in beta. Built on end-to-end agentic RL, Kimi-Researcher surpasses leading models like Claude 4 Opus and Gemini 2.5 Pro in internal tests, demonstrating strong autonomy and zero-structure adaptability. The agent independently manages research tasks, navigates conflicting information, and prioritizes accurate results. Moonshot AI plans to open-source key components to further accelerate advancements in agentic RL.

Loop Industries announced a $1.5 million engineering services agreement with ELITe, its Indian joint venture, to support the construction of its Infinite Loop™ India facility. The deal follows a completed initial agreement and highlights engineering services as a key revenue source. Loop is also pursuing off-take agreements with major brands for the India JV to solidify its position in sustainable materials. Ground-breaking is anticipated in the latter half of 2025.