China

IDC projects Apple will ship a record 247.4 million iPhones in 2025, a 6 % YoY rise driven by strong demand for the iPhone 17, especially in China where shipments could jump 17 % in Q4. The surge may enable Apple to out‑ship Samsung for the first time in 14 years and boost services revenue via new AI‑centric features. Supply‑chain partners Foxconn and Pegatron have expanded capacity, though a possible delay of the iPhone 18 could trim 2026 volumes.

words.Tenet Fintech Group (OTC: PKKFF) posted Q3‑2025 revenue of $237,350 and a net loss of $3.585 M, with operating cash flow of –$5.77 M (CAD). The company upgraded Cubeler’s Networking and Insights modules, refreshed the Cubeler.com site, and launched an AI‑driven data‑standardization tool for SME accounting. It also signed a new corporate‑seal custodian agreement for its Chinese subsidiary with Jiangsu Shenque Law Firm. A CEO Q&A on the results will be released on December 5, 2025.

U.S. prosecutors indicted four individuals for conspiring to illegally export millions in Nvidia chips to China and Hong Kong, circumventing U.S. export controls. The scheme allegedly involved routing the chips through Malaysia and Thailand to obscure their final destination, requiring falsified documentation and failure to secure necessary licenses. The defendants face charges related to violating the Export Control Reform Act, smuggling, and money laundering. The case highlights U.S. concerns over China’s AI and supercomputing ambitions and their potential military applications.

Nvidia’s Q3 earnings exceeded expectations, fueled by the AI boom and reinforced by a bullish outlook. CEO Jensen Huang dismissed “AI bubble” concerns, citing increasing GPU adoption, new AI applications, and agentic AI. The company reaffirmed its $500 billion AI chip order forecast for 2025-2026. China sales were “insignificant” due to geopolitical tensions and competition, despite licenses for H20 chip exports. Analysts see continued growth, projecting substantial future cash flow for Nvidia.

Chinese robotaxi companies, led by Baidu, are accelerating autonomous driving development and global expansion, outpacing U.S. rivals. Baidu has secured permits for driverless robotaxis and achieved per-vehicle profitability in Wuhan. Strategic partnerships, like those with Uber, are crucial for rapid profitability. While Waymo leads in fleet size, Chinese firms are aggressively expanding overseas, aiming to prove the viability of robotaxis. Safety and scaling deployments remain key challenges for mass adoption and profitability.

The Dutch government has suspended its intervention in Chinese-owned chipmaker Nexperia’s operations following constructive dialogues with China, potentially easing global chip shortage concerns. This move, seen as a show of goodwill, signals a potential de-escalation in trade tensions. China appears to be allowing European and other international companies to resume exporting Nexperia-manufactured chips. While this provides immediate relief to industries like automotive, underlying tensions regarding technology transfer and control persist, requiring a comprehensive framework for managing cross-border investments in sensitive technologies.

Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) will release its Q3 2025 unaudited financial results on November 25th and host an earnings call to discuss performance and strategic initiatives. Analysts will scrutinize AUM growth, responses to regulatory changes, and adaptation to shifting investor preferences. Key areas of interest include alternative investment demand, geopolitical impacts on cross-border investments, and fintech investments. Noah faces competition and evolving investor expectations. In H1 2025, Noah distributed RMB33.1 billion of investment products, with AUM totaling RMB145.1 billion as of June 30, 2025.

Apple removed gay dating apps Blued and Finka from its Chinese iOS App Store following directives from China’s Cyberspace Administration (CAC). Apple cited compliance with local laws, stating the apps were already unavailable elsewhere. A lighter version of Blued remains. This follows the 2022 removal of Grindr and stricter app regulations in China, including mandatory registration and licensing. The CAC also requested the removal of WhatsApp and Threads in April 2024. This action reflects increased scrutiny of LGBTQ content and the challenges multinational corporations face in navigating diverse regulatory landscapes.

China has eased export restrictions on critical minerals and rare earth elements, a move seen as a result of recent US-China talks. The one-year suspension, effective after October 9th, impacts materials used in military hardware, semiconductors, and advanced technology. This includes gallium, germanium, antimony, graphite and synthetic diamonds. The US has reciprocated by reducing tariffs and postponing the blacklisting of Chinese subsidiaries. Analysts believe China aims to stabilize its economy and project reliability in the global trading system.

Nvidia is caught between US and China’s AI chip restrictions, its market share in China plummeting from 95% to zero. Both countries are leveraging AI chips in a tech standoff. Despite lobbying efforts, Nvidia faces exclusion, as Beijing favors domestic chips and Washington restricts exports. This situation highlights the increasing difficulty for tech companies to remain neutral amidst geopolitical tensions, forcing them to choose sides and navigate complex regulations. Nvidia now anticipates zero revenue from China, signaling a potential permanent market separation.