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Leo Pang

NIO’s H1 Revenue Jumps 86% as Investors Question the Cost of Profitability

Shares of the Chinese EV maker tumbled to a 52-week low on earnings day, exposing a market verdict that strong headline numbers alone cannot paper over eroding R&D investment, rising per-unit costs, and an unproven three-brand expansion. NIO reported first-half 2026 results on September

Leapmotor Tops 100,000 Again as China’s EV Upstarts Enter a Q4 Reset

China's new-energy vehicle upstarts released August delivery figures on Monday, with Leapmotor extending its dominance by surpassing 100,000 units for the second consecutive month, while Xpeng, Li Auto and NIO remained clustered in a tighter band of 35,000 to 40,000 deliveries. Leapmotor reported 103,

Zhipu’s H1 Revenue Surges 400% as API Pivot Cuts Gross Margin in Half

Zhipu AI Technology (02513.HK) delivered a revenue explosion in the first half of 2026—but the same pivot that drove a 27-fold surge in API income also cut gross margins in half, exposing the costly arithmetic of transitioning from high-margin enterprise software deployments to a volume-driven,

BofA: China AI Model Upgrade Wave Accelerates as Cloud Giants Ramp Up Spending

A sweeping upgrade cycle across China's artificial intelligence model landscape is accelerating alongside a dramatic surge in cloud infrastructure spending by the country's leading internet platforms, with independent data pointing to Chinese models dominating global developer usage metrics, according to a newly published Wall Street research

ChinaBiz Briefing | BYD's Overseas Pivot, CXMT's DRAM Leap, Meituan's Profit Return

China's technology and industrial complex delivered a dense slate of results and milestones on August 31, 2026 — and a single theme runs through nearly all of them: domestic substitution reaching commercial maturity. From memory chips to delivery robots to satellite constellations, Chinese companies are no longer simply catching

BYD’s Overseas Sales Hit 43% as Global Expansion Becomes Its Profit Engine

Surging international sales now account for 43% of Q2 volume and carry margins nearly four times higher than domestic vehicles, making global expansion the single most critical variable in BYD's 2026 earnings trajectory. BYD reported Q2 2026 net profit attributable to shareholders of approximately RMB 8.24 billion

MetaX's Profit Milestone Masks a More Complex Reality for China's GPU Race

China's first profitable domestic GPU maker turned a headline RMB 612 million (US$85 million) net profit in H1 2026 — but the fine print reveals that unrealized investment gains, not chip sales, drove the swing, leaving the sector's commercialization story still unfinished. MetaX Integrated Circuit (Shanghai)

ChinaBiz Briefing | Baidu's AI Pivot, SHEIN's Hong Kong Debut, SMIC Record Margins

China's technology and capital markets converged on a single theme on August 28: the infrastructure of artificial intelligence is being repriced, refinanced, and rebuilt at a pace that legacy valuation frameworks cannot adequately capture. From Baidu's structural listing conversion to SHEIN's supply-chain-as-

Li Auto’s Product Reset Is Improving. The Hard Part Comes in Q4

What Is Happening at Li Auto Right Now? Li Auto, one of China's most closely watched electric and range-extended vehicle makers, is navigating a classic product-cycle squeeze: it is simultaneously retiring its existing lineup, launching replacements, and trying to prove that its newer pure-electric vehicles

SMIC Profit Jumps 94% as Record Margins Meet Relentless Capex

A record Q3 margin guidance signals a genuine inflection—yet five years of reinvested capital underscore why owning SMIC means betting on national industrial policy, not shareholder returns. Semiconductor International Manufacturing Corporation (SMIC), China's largest contract chipmaker, reported first-half 2026 net profit of RMB 44.67 billion