Startups - Asia Tech Wire

Startups

17:37

                            Japanese govt to contribute $635 million to chipmaker Rapidus
                        
                            The Japanese government plans to contribute 100 billion yen ($635 million) to local chipmaker Rapidus in the second half of 2025, according to Kyodo News.
                        
15:06

                            Chinese robotics startup MagicLab closes $20.55 million angel round
                        
                            MagicLab, a Chinese embodied intelligent robotics company, announced Wednesday that it has closed a 150 million yuan ($20.55 million) angel round of financing.
                        
15:02

                            A-share closing review: ChiNext Index closed down 0.55%; 4,400 stocks in the market were in the red
                        
                            The three major A-share indices fell collectively today. As of the close, the Shanghai Composite Index fell 0.01%, the Shenzhen Component Index fell 0.64%, the ChiNext Index fell 0.55%, the Beijing Stock Exchange 50 Index fell 3.79%, and the Micro-cap Index fell 3.05%. The total market turnover was 1.2946 trillion yuan, a decrease of 26.7 billion yuan from the previous day. 4,400 stocks in the market were in the red. In terms of sector themes, brain-computer interface, banking, insurance, and retail sectors led the gains; civil explosives concepts and AI application directions led the declines. On the market, the banking and insurance financial sectors rose against the market, and the four major banks of Industrial and Commercial Bank of China, Bank of China, Construction Bank, and Agricultural Bank of China set new historical highs. The retail sector was active in the afternoon, Zhongbai Group staged a ground-to-sky market, and Baida Group, Dongbai Group, and Youhao Group rose to the limit. The concept of AI glasses was partially active, Nationstar Optoelectronics, Skyworth Digital, and Rapoo Technology rose to the limit, and Dr. Glasses and Raytheon Technology followed suit. The AI application direction continued to decline, Yuanlong Yatu and Guangdong Lingnan shares hit the limit, Visual China, China Radio and Television, and Guangdong Media fell by more than 5%, and the civil explosives concept led the decline, Poly United and Gaozheng Civil Explosives hit the limit.
                        
11:31

                            A-share midday review: Micro-cap index fell 3.62% in half a day, and more than 4,700 stocks in the market were in the red
                        
                            The three major A-share indexes collectively adjusted in the morning. As of noon, the Shanghai Composite Index fell 0.31%, the Shenzhen Component Index fell 0.82%, the ChiNext Index fell 0.83%, the Beijing Stock Exchange 50 Index fell 2.32%, and the Micro-cap Index fell 3.62%. The market's half-day turnover was 870.1 billion yuan, an increase of 19.8 billion yuan from the previous day. More than 4,700 stocks in the market were in the red. In terms of sector themes, brain-computer interface, banking, and insurance sectors led the gains; civil explosives concepts and AI application directions led the declines. On the market, the banking and insurance financial sectors rose against the market, and the four major banks of Industrial and Commercial Bank of China, Bank of China, Construction Bank, and Agricultural Bank of China set new historical highs. Brain-computer interface concepts led the gains, Linsheng Technology hit the daily limit, Jiahe Intelligence, Aipeng Medical and others followed the rise. AI glasses concepts were partially active, Nationstar Optoelectronics, Skyworth Digital, and Rapoo Technology hit the daily limit, and Doctor Eyeglasses and ZTE followed the rise. The AI application direction continued to decline, Lingnan shares hit the limit, Guangdong Media, Visual China, China Radio and Television, Yuanlong Yatu, Tianyu Digital Technology, and Zhongke Jincai fell by more than 5%.
                        
10:42

                            IM Motors closes $1.3 billion Series B financing
                        
                            IM Motors, the electric vehicle unit of SAIC Motor Corp., announced on Wednesday the completion of its Series B1 equity financing, bringing its total Series B funding to 9.4 billion yuan (about $1.3 billion).
                        
06:08

                            Nvidia, AMD participate in Musk-owned xAI's $6 billion Series C funding round
                        
                            U.S. billionaire Elon Musk's artificial intelligence startup xAI announced on Monday the completion of a $6 billion Series C funding round and released the list of investors.
                        
11:58

                            Chinese AI startup StepFun closes hundreds of millions of dollars in Series B financing
                        
                            Chinese AI startup StepFun has recently closed hundreds of millions of dollars in Series B financing.
                        
10:58

                            Faraday Future secures $30 million in new funding
                        
                            California-based electric car startup Faraday Future announced Sunday that it has closed about $30 million in cash financing, following the closing of a $30 million round in September.
                        
21:55

                            JA Solar: Plans to invest 3.957 billion yuan to build solar cell and module production capacity
                        
                            JA Solar Technology announced that it plans to invest in the construction of a 6GW high-efficiency solar cell and 3GW high-power solar module project in Oman, with a total investment of RMB 3.957 billion, accounting for 11.27% of the latest audited net assets. The sources of funds for the project include its own funds, external equity financing and financing from financial institutions, etc. The company will make overall arrangements for funds to ensure the smooth implementation of the project.
                        
17:48

                            SoftBank-backed Perplexity closes latest funding round, valuation rises to $9 billion
                        
                            U.S. AI search startup Perplexity has closed its fourth round of funding this year, increasing its valuation to $9 billion, according to the Financial Times.
                        
13:45

                            AI hardware is strong, Inspur Information and ZTE Corporation hit the daily limit in the afternoon
                        
                            The AI hardware sector strengthened, with computing power and liquid-cooled server sectors leading the gains. Inspur Information, ZTE, Chuangye Dark Horse, Runze Technology, Yakang Holdings, Sichuan Run Holdings, and Accelink Technologies all hit their daily limit.
                        
13:34

                            OPPO acquires stake in Hangzhou Waveform Intelligence
                        
                            According to the Qichacha APP, Hangzhou Waveform Intelligent Technology Co., Ltd. recently underwent industrial and commercial changes. The original shareholders, including BlueRun (Chongqing) SME Development Private Equity Investment Fund Partnership (Limited Partnership) and Hangzhou Oufang Ziquan Venture Capital Partnership (Limited Partnership), withdrew, and OPPO Guangdong Mobile Communications Co., Ltd. was added as a shareholder. At the same time, some key personnel withdrew.
                        
13:24

                            The Shanghai Composite Index rose in the afternoon, up more than 1%. The Shenzhen Component Index rose 0.95%. The ChiNext Index rose 0.66%. Brain-computer interfaces, AI glasses and other sectors led the gains.
                        
11:00

                            Honor's new round of share reform completed, China Telecom, CICC Capital and others officially invested
                        
                            According to the Qichacha APP, Honor Terminal Co., Ltd. recently underwent industrial and commercial changes. The original shareholder Hangzhou Weitong Equity Investment Partnership (Limited Partnership) withdrew, and new shareholders included CICC (Changde) Emerging Industry Venture Capital Partnership (Limited Partnership) and China Telecom Group Investment Co., Ltd. Previously, Honor's share reform introduced a new round of investors, including China Telecom, CICC Capital's funds and other institutions.
                        
04:54

                            When AIC equity investment is good, it has great potential
                        
                            Many industry insiders recently stated at the 2024AIC Equity Investment Seminar that supporting technological innovation requires the cultivation and expansion of patient capital. As the scope of equity investment pilot projects of financial asset investment companies (AICs) expands, AICs will serve as patient capital, truly investing early, investing in small companies, investing in the long term, and investing in hard technology, and supporting technological innovation and development with greater efforts. Mo Wangui, deputy director of the Financial Research Institute of the People's Bank of China, suggested that in the future development of AIC equity investment, efforts should be made to explore how to build and cultivate its own comparative advantages, form a more scientific, reasonable, flexible and inclusive assessment system, and establish a mechanism that is compatible with the interests and incentives of all parties, so as to truly invest early, invest in small companies, invest in the long term, and invest in hard technology.
                        
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Weekly Highlights

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