JD.com’s supply-chain tech unit kicks off Hong Kong IPO
Jingdong Industrials Inc. launched its Hong Kong initial public offering (IPO) on Dec. 3, aiming to raise up to HK$3.27 billion ($420 million). The industrial supply chain technology subsidiary of JD.com Inc. is offering 211 million shares priced between HK$12.70 and HK$15.50 each. Trading is scheduled to commence on the main board of the Hong Kong Stock Exchange on Dec. 11. Following the listing, the JD.com ecosystem will have five listed entities, including JD Health International Inc., JD Logistics Inc. and Deppon Logistics Co. Ltd.
Moore Threads to list on STAR Market
Moore Threads Intelligent Technology Beijing Co. Ltd. will list on the Shanghai STAR Market on Dec. 5 after receiving regulatory approval. The GPU chipmaker has set its issue price at 114.28 yuan per share and expects to raise approximately 8 billion yuan ($1.1 billion). After deducting issuance costs, the net proceeds are projected to be 7.58 billion yuan.
Mercado Libre sees surge in Chinese sellers
Latin America’s largest e-commerce platform, Mercado Libre Inc., continues to see rapid growth in its Chinese merchant base. The number of Chinese sellers on the platform has increased by triple digits over the past two years, company executives told Caixin. The company began ramping up recruitment in 2025, capitalizing on U.S. tariff policy changes that are pushing Chinese cross-border sellers to explore Latin American markets.
Li Auto releases first AI glasses
Li Auto Inc. unveiled its first AI glasses, Livis, on Dec. 3, priced at 1,999 yuan. Weighing 36 grams, the glasses are designed to operate for nearly 19 hours under typical usage conditions. CEO Li Xiang stated that the project, initiated earlier in 2024, aims to extend the company’s “Li Xiang Tong Xue” voice assistant from the vehicle cabin to users’ daily lives.
LandSpace rocket launches but landing fails
LandSpace Technology Co. Ltd. successfully launched its reusable Zhuque-3 rocket into orbit on Dec. 3 but failed to recover the first stage. While the methane-liquid-oxygen carrier rocket completed its flight mission from the Dongfeng Commercial Aerospace Innovation Pilot Zone, the first stage suffered an anomaly during the vertical landing attempt and crashed. The launch aimed to verify recovery technologies including reaction control systems and landing legs.
Volcano Engine releases image model Seedream 4.5
ByteDance Ltd.’s cloud unit Volcano Engine released its new image generation model, Doubao-Seedream-4.5, for public testing on Dec. 3. The upgrade improves multi-image composition, ensuring better consistency when fusing multiple source materials, and enhances poster layout and logo design capabilities. The model targets applications in advertising, e-commerce, film protection and digital entertainment.
