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Dora Zhang

Editor covering China's business and technology, focused on AI, electric vehicles, autonomous driving, and robotics, tracking industry developments, innovation, and market dynamics.

SHEIN Clears China Regulatory Hurdle for Hong Kong IPO, Targeting Up to 342 Million Shares

CSRC filing confirms listing push as valuation holds near RMB 456 billion despite AI-era capital rotation; dual de minimis headwinds in the U.S. and EU sharpen the strategic urgency SHEIN received formal filing approval from China's securities regulator on July 10 for a Hong Kong Stock

ChinaBiz Briefing | Zhipu vs. MiniMax Divergence, CXMT's $4.1B IPO, Unitree Surgery

China's technology sector delivered a dense cluster of capital market signals on July 10, with two semiconductor giants advancing toward public listings, AI model stocks undergoing their first real stress test, and a humanoid robot clearing a milestone that reframes the sector's commercial timeline. Taken together,

China's AI App-Generation Race Fractures as Alibaba, ByteDance Retreat and Tencent Doubles Down

Diverging bets on vibe coding reveal a deeper fault line: who controls the next layer of app distribution in China's AI economy. China's three largest internet conglomerates have arrived at sharply different conclusions about AI-powered app generation, with Alibaba and ByteDance executing strategic retreats while

China AI Chip Unicorn Enflame Technology Clears STAR Market IPO Registration, Eyes RMB 6B Raise

Shanghai Enflame Technology received regulatory approval for its initial public offering on the Shanghai Stock Exchange's STAR Market on July 9, with its IPO registration status officially changing to "effective," according to the exchange's website. The listing, sponsored by CITIC Securities, took less than

MiniMax Races Toward 2.7 Trillion-Parameter Model as A-Share Listing Window Converge

China's MiniMax is developing a 2.7 trillion-parameter open-source model codenamed "M3 Pro," targeting a Q3 2026 release — a move that simultaneously tests the limits of China's AI compute infrastructure and the newly opened domestic IPO channel for large-model companies. The

Unitree Humanoid Robot Completes World's First Live Surgical Procedure

A humanoid robot developed by Chinese robotics company Unitree Robotics has successfully performed laparoscopic surgery on living animals, marking what researchers describe as the world's first instance of a humanoid robot completing a full standard minimally invasive surgical procedure on a live subject. The study, published online in

CXMT’s RMB 29.5B STAR IPO Leaves Retail Investors With a Sliver

China's largest domestic DRAM maker launches its most consequential semiconductor IPO of the decade, with a share allocation structure that signals Beijing's intent to treat memory chips as a strategic asset rather than a public investment vehicle. Changxin Memory Technologies, known as CXMT, formally initiated its

Pop Mart Moves to Build Appliances In-House, Betting IP Alone Can No Longer Sustain Growth

Pop Mart, the Beijing-based designer toy company that turned LABUBU into a global phenomenon, is quietly assembling an in-house small-appliance team — a structural shift that reveals how dependent the blind-box model has become on finding a second growth engine. Job postings surfaced across multiple Chinese recruitment

Unitree vs. UBTECH: China’s Humanoid Robot Race Splits in Two

Unitree's IPO windfall and UBTECH's near-photorealistic companion robot define the sharpest strategic fork yet in China's embodied AI industry—one chasing industrial dominance through cost compression, the other targeting a high-net-worth loneliness economy at RMB 990,000 (US$137,500) per

China's AI Glasses Race Hits IPO Inflection Point as XREAL Files, Rokid Restructures

China's smart eyewear sector is sprinting toward its first public listing, with XREAL having submitted a Hong Kong IPO prospectus, Rokid completing its share restructuring, and RayNeo Innovation quietly signaling capital market ambitions — compressing what was a multi-year technology race into a near-term equity event. The