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… href="https://fortune.com/2025/11/02/amazon-rufus-ai-shopping-assistant-chatbot-10-billion-sales-monetization/">Fortune</a>, Rufus has accumulated more than 250 million users, and shoppers who use AI are 60% more likely to complete a purchase than ordinary users. But some in the industry have pointed to Rufus’s instability, weaker performance when handling questions outside Amazon’s internal database, and relatively low conversion rate. Part of this has been attributed to Amazon’s proprietary large model, which may not yet match the sector’s leading models.</li>
<li aria-level="1">The third path is deep integration between large models and e-commerce ecosystems. <a href="/company/alibaba">Alibaba</a> is the representative case. The full integration of Qwen and Taobao is the first deep combination of a leading e-commerce platform and an AI application.</li>
</ol>
Ultimately, which path a company chooses depends on its resource base.
Model companies lack transaction scenarios and fulfillment capability, so they can only seek external partners. E-commerce giants have complete supply chains and data, but their large model capabilities may be limited. Players that have both large models and real-world commerce have a better chance of building a complete AI shopping experience.
whereRelatedArticle
Compared with the US market, China’s longstanding advantage in AI lies in its richer and more mature application scenarios. A huge user base, diverse formats, and rapid market acceptance create complex and varied implementation settings.
China’s major technology companies also have relatively comprehensive application layouts in consumer scenarios. In AI shopping, Alibaba has one of the most complete lifestyle service ecosystems, while Qwen has entered the ranks of internationally competitive large models. With this advantage, Alibaba has chosen to integrate the full AI shopping chain within its own ecosystem, building a barrier that may be difficult to replicate.
Alibaba has more than 20 years of e-commerce capabilities accumulated through Taobao, including search, price comparison, order placement, logistics tracking, and after-sales returns and exchanges. This integration allows those capabilities to be repackaged as “skills” that AI can call.
Inside the Qwen app, users can now complete every step from product recommendation to order placement, fulfillment, and after-sales service, rather than interacting only through shallow redirected links. This is one of the most comprehensive AI shopping service forms at present.
For the model, knowing when to search, when to compare prices, when to place an order directly, and when to advise users to think again requires a large amount of training from real shopping scenarios.
That points to a more important data asset. Taobao’s catalog of about four billion products and more than 20 years of accumulated real shopping scenario data can help Qwen understand purchase intent in user conversations and make recommendations.
Chinese venture capitalist Zhu Xiaohu once said that once the basic capabilities of large models become a relatively stable platform, the essence of competition will shift to engineering implementation capability and building closed data loops. This is precisely where Chinese companies tend to excel.
This reflects a deeper shift in large model competition. As the focus of AI development turns toward value at the application layer, competition is no longer only about model intelligence. It is also about the ability to turn technology into real products, meet specific user needs, and commercialize. As data becomes more important, high-quality data will tend to become closed, turning into each company’s moat.
The significance of this may extend beyond shopping itself. Since January this year, Qwen has been connected successively to service capabilities within Alibaba’s ecosystem, including Taobao Shangou (also known as Taobao Instant Commerce), Fliggy, Amap, and Alipay. The full integration with Taobao further fills a key gap in consumer scenarios.
The same idea is appearing among competitors. <a href="/company/bytedance">ByteDance’s</a> Doubao is accelerating integration with Douyin E-commerce. JD.com and <a href="/company/meituan">Meituan</a> have each launched independent AI shopping apps, trying to build barriers through vertical scenarios.
Whether users move from testing these tools to using them regularly will take time to answer. But one thing is becoming clearer: if people gradually get used to shopping through conversation, e-commerce, and perhaps the broader consumer market, may no longer look the same.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3808506543382020">article</a> was written by Xiao Xi for 36Kr.

Why AI shopping can finally move from recommendations to checkout

Taobao

Tmall

Alibaba Cloud

East Asia

China

Artificial Intelligence

E-commerce

Deep Tech

Consumer Economy

… AI inference servers including the ThinkSystem SE455i, SR650i, and SR675i for enterprise inference workloads.
Liquid cooling is another part of Lenovo’s AI infrastructure offering. Revenue from Lenovo Neptune liquid cooling rose 300% from a year earlier in the previous quarter. Lenovo’s latest results show that its annual server manufacturing capacity exceeds 70,000 racks across AI, compute, and storage systems, including more than 11,000 direct liquid-cooled racks designed for AI workloads.
For AI data centers, liquid cooling affects energy consumption, deployment density, and operating costs. Lenovo said Neptune liquid cooling can help data centers bring power usage effectiveness below 1.1 in high-intensity AI computing environments.
In storage, Lenovo’s acquisition of Infinidat, completed in early April, strengthened ISG’s high-end enterprise storage capabilities.
The software layer is also becoming more important. Lenovo Group executive vice president and China president Liu Jun said ISG’s growth has been driven not only by hardware, but also by the Wanquan platform, which can centrally manage and schedule diverse computing resources. Under the same hardware conditions, it can help customers improve performance by more than 20%, according to Liu.
In compute-as-a-service, Lenovo TruScale has become a growth driver for the Solutions and Services Group, or SSG. It shifts traditional hardware procurement into a subscription model based on usage, addressing cost pressure, idle resources, and technical complexity.
In endpoint AI applications, the Qira personal AI agent supports cross-device collaboration and task transfer. It is part of Lenovo’s effort to move beyond hardware into personal AI interfaces, while supporting its broader hybrid AI strategy across devices, edge environments, cloud systems, and private enterprise infrastructure.
Ken Wong, Lenovo Group executive vice president and president of SSG, said during an earnings call that the primary purpose of the AI factory is to improve AI production efficiency. It can significantly reduce the cost of each token while increasing the business value generated by each token.
“This means Lenovo is upgrading into an end-to-end AI service provider,” Wong said. “It can help customers truly build AI compute systems, bring AI into real business scenarios, continuously optimize operations, and ultimately turn AI into business value.”
<h3>ISG’s next test is profitability</h3>
Lenovo’s AI factory model is contributing to ISG’s revenue and profit recovery. It also shows how Lenovo is trying to shift more of its profit base from one-off hardware sales toward higher-value infrastructure and services.
A Huatai Securities research report cited by IPO Zaozhidao said one reason for ISG’s profit recovery is its expansion from cloud service providers to higher-margin enterprise and small and midsize business customers. Compared with cloud service providers, these customers tend to have stronger demand for bundled solutions and may offer more opportunities to integrate Lenovo’s SSG services.
At Lenovo Tech World 2026, the company highlighted its global manufacturing footprint and supplier relationships as competitive advantages.
That matters in an environment where memory, CPUs, and other key components remain in tight supply. A resilient supply chain can help Lenovo improve order predictability and manage logistics costs by shifting production across its global factory network. That capability may be harder for pure ODMs (original design manufacturers) to replicate. For cloud vendors and enterprise customers, predictable delivery can be as important as price.
Lenovo could also gain market share and improve margins during the current storage and CPU supply upcycle if it secured inventory earlier than competitors.
The link between ISG and SSG is central to Lenovo’s strategy. In fiscal 2025/26, SSG revenue exceeded USD 10 billion for the first time. Its operating profit margin reached 22.4%, its revenue growth was about four times the overall IT services industry growth rate, and it recorded year-on-year growth for 20 consecutive quarters.
For Lenovo, AI infrastructure can become more than a hardware sale. ISG can bring in customers through AI factory deployments, while SSG can add managed services, software, and ongoing support. That structure gives Lenovo a clearer path to recurring revenue if customers continue to expand their AI systems.
This <a href="https://xueqiu.com/2854806290/390480323">article</a> was adapted based on a feature originally written by MD and published on IPO Zaozhidao. KrASIA is authorized to translate, adapt, and publish its contents.
Note: HKD, RMB figures are converted to USD at rates of HKD 7.83 = USD 1 and RMB 6.80 = USD 1 based on estimates as of May 26, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Lenovo’s “AI factory” approach starts to show results

Lenovo

Enterprise Services

Hardware

AI Infrastructure

<a href="/company/huawei">Huawei</a> has proposed a new semiconductor development framework called the “Tau scaling law,” framing it as an alternative method to improve chip performance as Moore’s law becomes harder to sustain.
The proposal was introduced on May 25 at the IEEE International Symposium on Circuits and Systems in Shanghai by He Tingbo, chairwoman of Huawei’s scientist committee and president of its semiconductor business department. In her keynote, she described Tau scaling as a shift from geometric scaling, the traditional method of shrinking transistors, to time-based scaling, where chip performance is improved by reducing signal delay across devices, circuits, chips, and systems.
“Losing geometric scaling does not mean losing time scaling,” He said.
She added that one core technology under this approach is LogicFolding, an architecture designed to shorten critical wiring paths, reduce signal propagation delay, and improve transistor density and circuit performance. The company said Kirin chips scheduled for launch in fall and winter 2026 will be the first to adopt LogicFolding.
Dubbed “Her’s law” by He’s peers, Tau scaling is less about shrinking the chip, as Moore’s law is, and more about shortening the journey inside it. By shifting the emphasis to architecture and signal efficiency, the approach could reduce dependence on the most advanced lithography tools, though not eliminate it.
<figure id="attachment_162206" aria-describedby="caption-attachment-162206" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-162206" src="https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/Huawei-He-Tingbo-IEEE-ISCAS-2026.jpg" alt="Photo shows He Tingbo, chairwoman of Huawei’s scientist committee and president of its semiconductor business department." width="1920" height="1080" srcset="https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/Huawei-He-Tingbo-IEEE-ISCAS-2026.jpg 1920w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/Huawei-He-Tingbo-IEEE-ISCAS-2026-720x405.jpg 720w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/Huawei-He-Tingbo-IEEE-ISCAS-2026-1024x576.jpg 1024w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/Huawei-He-Tingbo-IEEE-ISCAS-2026-768x432.jpg 768w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/Huawei-He-Tingbo-IEEE-ISCAS-2026-1536x864.jpg 1536w, https://console.0722vps.aieehr01.top/wp-content/uploads/2026/05/Huawei-He-Tingbo-IEEE-ISCAS-2026-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-162206" class="wp-caption-text">He Tingbo, chairwoman of Huawei’s scientist committee and president of its semiconductor business department. Photo courtesy of Huawei.</figcaption></figure>
Traditional semiconductor progress has long been measured by how small transistors can be made and how many can be packed onto a chip. Huawei’s proposition focuses instead on how efficiently signals and data move. In theory, shorter signal paths can reduce latency and improve performance, even if the underlying manufacturing process does not match the most advanced global nodes.
According to He, high-end chips based on Tau scaling could reach transistor density equivalent to 14 angstroms, or 1.4-nm, processes by 2031.
This does not necessarily mean Huawei expects to manufacture true 1.4-nm chips by then. A more precise reading is that it aims to achieve density comparable to future 1.4-nm-class processes through architecture, circuit design, and system-level optimization.
With LogicFolding, Huawei intends to switch its Kirin chips from a single-layer to a double-layer structure. By stacking and rearranging parts of the chip, Huawei believes the vertical design can increase density and enhance performance, even if the underlying manufacturing process has not advanced by the same amount under geometric scaling.
“Before LogicFolding, it took three years to lift transistor density from 126 to 155 million transistors per square millimeter,” He said. “In 2026, LogicFolding takes it all the way to 238 million transistors per square millimeter, in one single step.”
The global benchmark is already moving in that direction. TSMC unveiled its A14 process, a 1.4-nm-class technology, in 2025 and said it is planned to enter production in 2028. Other leading chipmakers, including Intel and Samsung, are also pursuing next-generation nodes around the 2-nm and angstrom-class range.
Huawei’s target is therefore ambitious, though it would still need external validation through commercial chips, measurable density gains, production yields, and real-world performance.
whereRelatedArticle
The announcement comes as China continues to face constraints in advanced chipmaking due to US and allied export controls that have limited the country’s near-term ability to produce chips beyond the 7-nm node. Huawei and others in China’s broader semiconductor sector have been looking for ways to sustain chip advances amid these restrictions, with localization of semiconductor design and manufacturing among Beijing’s priorities.
The proposal is therefore significant because it builds on Huawei’s broader role in China’s <a href="/industry/ai">artificial intelligence</a> and semiconductor self-reliance push. Huawei has often been cited as <a href="https://merics.org/en/report/chinas-drive-toward-self-reliance-artificial-intelligence-chips-large-language-models">a central player in China’s AI chip self-reliance drive</a>, including through its work with domestic chipmakers, while studies note that Chinese AI chips still generally lag Nvidia in performance.
Tau scaling also sits alongside other approaches aimed at extending computing performance beyond Moore’s law, including neuromorphic computing and quantum computing.

Huawei proposes “Tau scaling law” to extend chip advances beyond Moore’s law

Semiconductors

… company.</figcaption></figure>
whereAdBanner.Uptake
<h3>Recent deals completed in China:</h3>
<ul>
<li aria-level="1"><a href="https://www.heygears.com/">HeyGears</a>, a 3D printing company, has raised more than RMB 300 million (USD 44.1 million) in a Series C round. Legend Capital Management and Fortune Capital co-led the round, with participation from Gopher Asset Management and CAS Investment Management. It will use the funds for photopolymerization technology R&amp;D, global supply chain development, talent acquisition, and the launch of next-generation products. —<a href="https://36kr.com/p/3824073646624899">36Kr</a></li>
<li aria-level="1"><a href="https://www.link-touch.com/">Link-Touch</a>, a six-axis force sensor company, has secured a nine-figure RMB sum in a Series C++ round co-led by SAIC Financial Holdings and Shang Qi Capital. China Fortune-Tech Capital, Charoen Pokphand Robot, and Houwei Capital also participated. The funds will be used for product R&amp;D, digitalized production, and international expansion. —<a href="https://36kr.com/p/3824053061652616">36Kr</a></li>
<li aria-level="1">EBKernel, an embodied intelligence company, has raised a nine-figure RMB sum in a new round led by industrial investors, alongside undisclosed funds and existing shareholders. It will use the funds for technology R&amp;D, team expansion, and market development. —<a href="https://36kr.com/p/3819931562414467">36Kr</a></li>
<li aria-level="1">OmniDimension, an embodied intelligence chip developer, has raised RMB several hundred million in a seed round jointly led by Zhongguancun Development Group and Qihang Investment Management. Shanghai Engine Fund, Stony Creek Capital, Biwin Storage Technology, Yanchuang Group, Haiyi Equity Investment, and Tanyuan Venture Capital also joined the round. —<a href="https://36kr.com/p/3821371042877575">36Kr</a></li>
<li aria-level="1"><a href="http://autoagents.ai">AutoAgents.ai</a>, an agentic AI startup, has completed a pre-Series A round. New investors include Fanchuang Capital, Zhongguancun Development Group, and Tanyuan Venture Capital, while an Orient Securities subsidiary and KylinHall Partners returned as existing backers. The funds will go toward procuring compute, expanding the team, and developing and operating its product ecosystem. —<a href="https://36kr.com/p/3816909945029760">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>FusionAP, Melazyme, TME, and others made recent headlines:</h3>
<ul>
<li aria-level="1">FusionAP, a Malaysia-based semiconductor packaging company, raised USD 2 million in a pre-seed round co-led by Vertex Ventures Southeast Asia &amp; India and Southern Capital Group.</li>
<li aria-level="1"><a href="https://melazyme.com/">Melazyme</a>, a precision fermentation company, raised USD 2 million in a seed round led by Thailand-based SeaX Ventures, with participation from Stellaris Venture Partners and Plug and Play Ventures.</li>
<li aria-level="1">Tencent Music Entertainment (TME) completed its acquisition of Ximalaya on May 18, making the online audio platform a wholly owned subsidiary.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@0722vps.aieehr01.top">hello@0722vps.aieehr01.top</a>.

Deals in brief: Secai Marche raises fresh funding, Singapore’s K25.ai secures at least USD 2 million, five China investments, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Vietnam

Japan

Southeast Asia

… have connected with more than 840 European electricity suppliers and more than 5,000 heat pump models. These are not things that can be caught up with in one or two years.
There is another point many people overlook: user stickiness. Our app’s DAU (daily active user) rate exceeds 50%, and users open it four times a day on average. They look every day at how much electricity they generated and how much money they saved. Once this habit is formed, the cost of switching to another brand becomes very high. So I am not too worried about competition. Instead, the more imitators there are, the more it means the sector has been validated. That is a good thing for us.
<h3>36Kr: What is your biggest judgment about industry development over the next two to three years?</h3>
LB: My biggest judgment is that only AI-driven balcony energy storage will be competitive in the future. Without AI, hardware alone has no differentiation.
Why? Because hardware will become increasingly homogenized. Core components such as batteries and inverters are similar across suppliers, and costs will become increasingly transparent. But AI capability is different. It is soft and invisible, and yet it is exactly what users can perceive most clearly: how much they pay for electricity each month. That number is the most honest.
So everything we are doing now is essentially building a decision engine with AI at its core. The stronger this is, the better the user experience, the more money users save, and the stronger the stickiness. This is a positive flywheel.
<h3>36Kr: In technology R&amp;D, what are Zendure’s key plans for the future?</h3>
LB: We mainly focus on several directions.
On hardware, the first is lowering hardware costs, the second is some unique thinking around inverter architecture design, and the third is improving efficiency. Hardware ultimately comes down to efficiency and cost. When efficiency rises, heat decreases. When heat decreases, fewer heat dissipation components are needed, and hardware costs naturally fall. So what we are working hardest on is efficiency and cost.
On software, the main focus is deep application of AI. We have already launched an internal strategy to transform into an AI-native organization.
At Zendure, AI is not just an internal efficiency tool. We will use AI from the bottom up to reconstruct our product architecture. Native AI hardware and software products will also be launched in the future.
<h3>36Kr: Beyond energy storage itself, is Zendure considering products for other scenarios?</h3>
LB: We are already doing this. Our electric cargo bike will launch in the second half of this year. We are the only company in the balcony energy storage industry doing this. We have expanded from the home to short-distance outdoor mobility in the yard.
Some European users have even asked if we will make electric vehicles. It is not very realistic for now, but it shows users’ high trust in the brand. If they like you, they hope you will make everything.
We are also exploring heat pumps and air conditioners, though nothing has been finalized yet.
<h3>36Kr: Will Zendure’s design direction change?</h3>
LB: Yes. Our user base is expanding from early technology geeks to mass market users. Especially when couples make purchase decisions together, women’s aesthetic requirements are much higher. So next, we will move in a more appliance-like direction, making the appearance more refined and closer to home appliances.
<h3>36Kr: What are Zendure’s goals for the next few years?</h3>
LB: To lead Europe's plug-in home energy management system market, reach one million users, and complete an IPO. Personally, I lean more toward a Hong Kong listing, because 99% of our revenue comes from overseas. A Hong Kong listing would benefit our overseas business and brand, and would serve as a concentrated brand upgrade for our channels, energy suppliers, and installer ecosystem partners in Europe and North America.
I have communicated with some European investors. Once our brand is mentioned, they all say they are very familiar with it. Because our strategic focus over the years has been overseas, we have kept a low profile in China, so China’s capital markets do not feel our brand as strongly.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3804589375987204">article</a> was written by Xiao Xi for 36Kr.
Note: EUR figures are converted to USD at rates of EUR 0.86 = USD 1 based on estimates as of May 25, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Zendure aims to lead in AI-driven home energy management systems

Batteries

Energy

China's investment in Europe has reached its highest level since 2018 and surpassed other high-income economies for the first time, a new report shows, although exports remain Chinese companies' preferred means of doing business.
While Chinese foreign direct investment (FDI) in the US is flatlining at the lowest level in a decade amid geopolitical tensions, China has increased its share of total investment in the more open European market. The region accounted for around 25% of Chinese global investment in 2025, up from 17% in 2024, according to a joint report by Rhodium Group and the Mercator Institute for China Studies (MERICS), a Berlin-based think tank.
China invested EUR 16.8 billion (USD 19.5 billion) in Europe, including the UK, last year, according to the report. That was up 67% on the year, with 42% directed toward the electric vehicle supply chain. Mergers and acquisitions drove the growth, jumping 89% to EUR 7.9 billion (USD 9.2 billion), while greenfield investment—building facilities from the ground up—increased 51% to EUR 8.9 billion (USD 10.3 billion).
The growth comes as Chinese companies chase overseas opportunities to offset sluggish economic conditions at home and get around trade friction. Despite the rise in completed investments last year, however, the total in Europe was still less than half the peak in the middle of the last decade, as overall outbound flows remain far lower. The report also stresses that newly announced transactions were subdued in 2025, at EUR 5.2 billion (USD 6 billion), versus EUR 16.9 billion (USD 19.6 billion) worth of plant and equipment announcements in 2023.
"Beijing's focus on building up domestic industrial capacity and keeping core technologies and know-how at home will continue to weigh on outbound foreign direct investment," the report said. "Meanwhile, persistently weak domestic demand and low profit margins in China, as well as an undervalued yuan, will encourage Chinese firms to continue to use exports as the main channel for selling their goods abroad."
Chinese exports to Europe continued to climb, particularly in sectors that have also attracted major Chinese investment. Auto export volumes rose 15%, battery shipments increased 43%, and wind equipment exports surged 65%.
The report argues that even with the European Union's anti-dumping and countervailing duties, which the authors estimate only cover about 9% of China's exports to Europe, the European single market is still "a relatively open market for China."
"The key question is whether Chinese firms will continue to rely heavily on exports for their overseas sales, or whether we will see a steady increase in levels of outbound investment," the report said. "If economic, political and policy conditions do not change substantially, we expect Chinese firms to favor exports."
Chinese scholars complain that the EU is adopting decoupling policies toward China, and trade tensions are rising as the bloc considers a slew of measures to counter the influx of Chinese goods.
In December, the EU opened an in-depth investigation into security inspection products maker Nuctech over concerns that the partially state-owned company may have benefited from subsidies, giving it an unfair competitive advantage in Europe. Tensions intensified last week as Beijing ordered Chinese entities not to assist with the EU's probe, arguing that Europe's use of the Foreign Subsidies Regulation in the case constitutes "unjustified extraterritorial jurisdiction."
Scrutiny of FDI is growing as well. In December, the EU reached a provisional political agreement to revise its FDI screening regulation to enhance economic security, introducing mandatory national review mechanisms, broader scrutiny of indirect investments through EU subsidiaries, and unified baseline rules for critical sectors across member states.
Proposals to give the European Commission the power to override national screening decisions were dropped following opposition from the European Council.
The Rhodium-MERICS report said that high costs and regulatory barriers in Europe could limit its appeal to Chinese investors, while delays and political compromises may slow EU efforts to bring more production onshore.
At the same time, it says that Brussels may remain cautious about taking trade measures against China, wary of potential retaliation, particularly involving critical minerals, as well as uncertainty surrounding US tariffs. "This will leave European markets broadly open to Chinese exports in the medium term," while giving Chinese companies "fewer reasons to invest in the EU."
Hungary remained the top destination for Chinese investment in Europe, attracting EUR 3.9 billion (USD 4.5 billion), followed by Germany at EUR 2.5 billion (USD 2.9 billion) and France with EUR 1.9 billion (USD 2.2 billion). Three of the ten largest ongoing Chinese investment projects in Europe—by <a href="/company/catl">Contemporary Amperex Technology</a> (CATL), <a href="/company/byd">BYD</a>, and Sunwoda Electronic—are located in Hungary.
Hungary's share of total Chinese investment in Europe fell to 23% in 2025, from 32% a year earlier, as no new major projects were announced, according to the report. Instead, momentum has shifted toward Germany and Spain, where investment rose 88% and 147%, respectively. Germany ranked second after Hungary in EV-related investment, followed by Spain.
At a briefing to unveil the report, MERICS analyst Andreas Mischer acknowledged that Europe faces a dilemma over whether to seek more or less Chinese investment. "Ideally, we would still attract Chinese investments in the automotive sector and so on, but while at the same time making sure that local value and local spillovers are actually created."
That could require setting conditions like hiring quotas and technology transfers, without creating so many hurdles that investors "abandon the European market altogether."
Gregor Williams, associate director with Rhodium Group's China corporate advisory team, said that ultimately, "Europe needs to realize its advantage, which is access to its market."
This article first appeared on <a href="https://asia.nikkei.com/economy/china-s-investment-in-europe-hits-7-year-high-still-far-from-peak">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.0722vps.aieehr01.top/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.
Note: EUR figures are converted to USD at rates of EUR 0.86 = USD 1 based on estimates as of May 22, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

China's investment in Europe hits seven-year high, still far from peak

Europe

… potential users of coding,” Liu said.
At the end of 2025, Alibaba Cloud set a goal of capturing 80% of incremental growth in the AI cloud market in 2026. It is now concentrating its resources on coding. “In the first five months of this year, we can say Alibaba Cloud has already captured 80% of incremental growth in the LLM market,” Liu said.
To support that goal, Alibaba Cloud is changing how it evaluates sales teams. The question is no longer who sells the largest token volume, but who sells the most valuable tokens.
Put simply, Alibaba Cloud is not pursuing token consumption generated by basic chat. Prices for that type of model usage have already fallen sharply.
Instead, one of Alibaba Cloud’s key metrics is the number of customer core business systems its models are connected to. It wants tokens that customers use to write code, make decisions, and run processes. Once models enter enterprise production workflows, token consumption rises, unit prices are higher, repurchases are more stable, and the revenue is higher quality.
Coding-related token consumption differs from video. Video model consumption is one-off: a video is generated, and the task ends.
By comparison, coding is closer to a self-evolving process. A model writes code, the code becomes an application, the application is deployed to the cloud, the running application calls the model, and the model generates more code.
The large model race has become a systems engineering contest. The coupling of chips, infrastructure, and large models is now one of the most important factors shaping training and inference efficiency. Commercial competition is also accelerating, rapidly testing use case value and feeding intelligence back into models.
“Chips, models, and the cloud are now like gears that need to mesh together and spiral upward,” Liu said. If the future competition is about whether each chip can run more tokens, and higher-quality tokens, than competitors, “then we win.”
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3819955387371649">article</a> was written by Deng Yongyi for 36Kr.
Note: RMB figures are converted to USD at rates of RMB 6.80 = USD 1 based on estimates as of May 25, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Alibaba Cloud lifts MaaS revenue with deeper focus on AI coding

Foundation and Large Models

… tenfold. This round of price increases is very severe. I think new smartphones will start to become more expensive, so anyone planning to replace a phone in the next year should do it earlier.
At the same time, we are using various internal methods to improve efficiency and see whether we can absorb as much of the cost increase as possible. But our ability is limited.
That is why the RMB 233,500 (USD 34,330.2) price for the YU7 standard version was a difficult decision. The earliest price was RMB 239,900 (USD 35,271.1). When we saw that people expected RMB 220,000, (USD 32,345.3) I thought they had no idea how much cost pressure exists today. Still, we tried to make the pricing fair and let people feel our sincerity.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3817022407181188">article</a> was written by Xu Caiyu for 36Kr.
Note: RMB figures are converted to USD at rates of RMB 6.80 = USD 1 based on estimates as of May 25, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

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… aired in 2025, the series had reportedly secured partnerships with more than 30 brands.
The sequel built on the first season’s appeal by expanding the workplace setting beyond power struggles inside a television station. Its story moved into a three-way contest among traditional media, online media, and a government information department. Real-world issues, including AI-driven content piracy and labor disputes, gave the series more topical weight, while its Douban score pointed to continued audience recognition.
The series’ independent, career-focused female characters also resonated with viewers, making it a useful vehicle for brands seeking to reach high-net-worth female consumers. It attracted partnerships with brands including Feihe and Nivea.
Last year, the collaboration between Ant Group’s AQ and The Vendetta of An won one of the overall grand prizes during the “Cool Awards” segment of Hujing’s latest launch. After The Vendetta of An aired, it ranked first on the platform in total number of ads and total ad duration for drama series in 2025. As the series’ title sponsor, AQ was promoted through a series of placements involving one of the show’s main characters.
The serialization of top-tier content from this slate, including Legend of Zang Hai 2, Regeneration 2, and Blood River 2, combined with Youku’s mature marketing capabilities, may further multiply marketing effects and help clarify the IP route.
“Serialization means this content world will continue growing, and brands do not have to start from zero every time,” the general manager of Hujing’s commercialization platform said. “The latest slate alone contains nine second-generation series across drama series. Among them, Legend of Zang Hai 2 and Blood River 2 quickly topped Weibo’s trending list as soon as they were launched, rapidly attracting massive attention and discussion. It can be seen that the commercial value of serialization continues to expand.”
<h3>Threading online and offline channels together</h3>
At Hujing, IP capabilities may also be amplified by the group’s marketing capabilities, including its “all-scenario” ecosystem.
In the content segment, fellow Alibaba subsidiary Damai Entertainment has continued to deepen its presence in real-world entertainment segments, including concerts, music festivals, stand-up comedy, comedy, and exhibitions. Traditional longform video marketing often stops at online exposure, while Hujing extends content IP value offline.
In 2025, box office revenue from commercial live performances in China exceeded RMB 60 billion (USD 8.8 billion) for the first time, while attendance reached 194 million, according to the China Association of Performing Arts. Riding this trend, Hujing built a film and live entertainment position through Taopiaopiao and Damai, creating a chain from online drama watching to offline experiences. Around a single IP, brands can obtain compound marketing resources including theater title sponsorship, character derivatives, and offline film and live entertainment tie-ins, rather than relying on one-off placements.
Take the Xiami music and arts festival as an example. Held for four years so far, the festival has worked with 27 partner brands, while sponsorship revenue has grown several dozenfold. It has become a scenario in which brands, content, and music fans can all benefit. On-site, several brands completed content co-creation with the music festival, connecting with music scenarios, lifestyles, and the emotions of music fans.
According to Hujing, this year’s Xiami festival will expand into a matrix that includes a large festival and midsize outdoor “outing,” complemented by a smaller indoor component.
Damai’s offline exploration also follows an IP-driven approach. It has previously promoted the offline implementation of classic IPs such as Yao-Chinese Folktales, which became an art exhibition.
The general manager of Hujing’s commercialization platform said:
<blockquote>“All-scenario does not mean filling every channel. It means allowing the same emotional thread for a brand to run through the user’s complete journey from reach to conversion.”</blockquote>
To this end, Hujing’s approach has three layers of integration:
<ol>
<li aria-level="1">Online-offline scenario integration: Youku’s premium content provides immersion, Damai’s offline performances provide implementation, and brands establish a presence across more spaces in users’ lives.</li>
<li aria-level="1">Cross-category IP integration: Drama series, variety shows, animation, and offline performances circulate around the same IP, with all touchpoints conveying a consistent brand narrative and ensuring continuity of experience.</li>
<li aria-level="1">Data integration: Personal, household, and public screens are connected, moving audiences from content reach to brand experience and e-commerce conversion. Precise retargeting enables full-chain attribution, a capability that pure content platforms may find difficult to replicate.</li>
</ol>
This integration of online content and offline emotional engagement forms Hujing’s core barrier, setting it apart from other platforms and supporting long-term commercial monetization of its IP.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3805664792157960">article</a> was written by Xiao Xi for 36Kr.

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