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JPMorgan Says Alibaba’s $19B Selloff Overstates the Cost of Its $10B Share Sale

J.P. Morgan calculates that less than $1 billion of Alibaba's post-placement market cap destruction is mathematically attributable to the deal itself — leaving roughly $18 billion in losses it attributes to irrational repricing of the company's broader capex ambitions. Alibaba Group completed a 710-million-

DeepSeek Posts 10x Revenue Surge, 82.9% API Margin as Valuation Nears $70B

DeepSeek is demonstrating that China's most closely watched AI startup can generate Silicon Valley-grade unit economics at a fraction of Western rivals' scale, with new financial disclosures showing an 82.9% gross margin on its API business even as it closes in on a second fundraising

Alibaba's Qwen3.8-Flash Rewrites the AI Cost Curve, Previews Qwen4 Architecture

Alibaba Group on Aug. 26 released Qwen3.8-Flash, a multimodal mixture-of-experts model that activates only 6 billion of its 125 billion parameters per token—delivering frontier-level performance at a price point that undercuts every major competitor and, crucially, doubles as the architectural blueprint for the forthcoming

Zhipu Undercuts DeepSeek With GLM-5.3 Flash on 100,000+ Domestic Chips

China's Zhipu AI fired a direct shot at DeepSeek's pricing dominance on Wednesday, launching GLM-5.3 Flash — a 300-billion-parameter lightweight flagship model running entirely on a cluster of more than 100,000 domestic chips — at rates that undercut its rival across nearly all

MiniMax’s ARR Tops $800M, but Margin Squeeze Tests Its AI Growth Model

China's independent AI model maker MiniMax delivered first-half 2026 revenue that surpassed the most optimistic sell-side projections, yet a cratering gross margin and a valuation that has shed nearly 75% from its peak reveal a company caught between an aggressive pivot to enterprise services and a

Li Auto’s Q2 Margin Halves as In-House Tech Bet Deepens

Li Auto delivered a rare combination on Tuesday: a top-line beat and a bottom-line implosion, as China's premium EV maker reported Q2 2026 gross margins that were nearly halved year-on-year and issued forward guidance that fell as much as 22% short of Wall Street&

ChinaBiz Briefing | Enflame IPO, Unitree Crash, Great Wall's Pivot, Sugon's AI Bet

China's technology and capital markets delivered five interlocking signals on August 26 that collectively define the current moment: domestic AI chip infrastructure is reaching public markets at scale, humanoid robotics is confronting a valuation reckoning, and China's internet giants are liquidating non-core assets to fund

Sugon’s Q2 Profit Jumps 226% as AI Growth Tests Cash Conversion

China Sugon Information Industry (603019.SH) posted its strongest quarterly profit acceleration in recent memory for H1 2026, with Q2 net income leaping 226% sequentially—yet a near-doubling of inventory to RMB 67.92 billion (US$9.43 billion) and a still-negative operating cash flow signal that the

Leapmotor vs. Xpeng: Two Roads to Profitability in China's EV Industry

Both companies posted roughly ¥35 billion in first-half revenue. One turned a profit. The other spent twice as much on R&D. Here's why that gap tells a larger story about how China's EV shakeout is unfolding. What Is This About? China's

Great Wall Motor’s Overseas Sales Top China for First Time as Profit Slumps 61%

Revenue growth and a historic geographic sales shift cannot mask a RMB 38.72 billion (US$5.38 billion) profit shortfall driven by delayed overseas tax subsidies and currency headwinds—but strip out those one-offs, and Great Wall's operating engine looks largely intact. Great Wall Motor posted