China to Release Rules on EV Battery Recycling
The National Development and Reform Commission plans to issue management measures for the comprehensive utilization of new-energy vehicle power batteries, deputy head Zhou Haibing said at a briefing on Tuesday. Part of a broader solid waste action plan, the initiative will also revise industry guidelines to restrict and eliminate backward processing technologies.
U.S. Relaxes Nvidia H200 Export Curbs to China
The U.S. has revised its export control rules to allow the sale of Nvidia Corp.’s advanced H200 chips to the Chinese mainland and Macao under a case-by-case review process, relaxing a previous policy that effectively banned such transactions. A document from the U.S. Department of Commerce’s Bureau of Industry and Security, available in the official journal Federal Register, shows the policy shift from a “presumption of denial” for certain advanced computing products and is set to take effect Jan. 15.
Luxshare Tries to Scrap Purchase of Wingtech’s India Assets
Luxshare Precision Industry Co. Ltd., a key supplier to Apple Inc., has initiated arbitration proceedings to unwind its acquisition of Indian manufacturing facilities from Wingtech Technology Co. Ltd., citing a government seizure of the properties that has made transferring ownership impossible. The deal’s unraveling deepens the turmoil facing Wingtech, which is already grappling with U.S. trade restrictions and an escalating legal fight over control of its Dutch chip unit, Nexperia.
XPeng’s Flying Car Unit May Pivot to Hong Kong IPO
Aridge, the flying car unit of XPeng Inc. formerly known as AeroHT, has tapped investment banks to prepare for an initial public offering in Hong Kong, according to people familiar with the matter. The company declined to comment. A listing would serve as a key test of investor interest in China’s emerging “low-altitude economy” as Aridge moves closer to mass production of its dual-mode flying vehicle, targeted for 2026. Sources told Caixin the company had initially planned a U.S. listing via Nasdaq but shifted course, opting for Hong Kong to take advantage of a revived IPO market offering stronger valuation prospects and greater financing certainty.
GigaDevice Surges on Hong Kong Debut
GigaDevice Semiconductor Inc. soared in its trading debut in Hong Kong on Tuesday, becoming the second mainland Chinese company this year to complete a secondary listing in the city as investor appetite for memory chipmakers swells amid the AI-driven tech rally. The stock closed at HK$222.80 ($28.7), up 37.5% from its offering price, briefly climbing over 50% during the session. The rally pushed the company’s market capitalization to HK$155.2 billion. The robust debut highlights the renewed momentum among Chinese companies tapping Hong Kong for fresh capital, spurred by booming global demand for semiconductors used in artificial intelligence.
TCL Tech Forecasts Profit Jump of up to 191%
TCL Technology Group Corp. (000100.SZ) expects net profit attributable to shareholders to range between 4.21 billion yuan ($603 million) and 4.55 billion yuan for 2025, representing a year-on-year increase of 169% to 191%, according to a company filing. The company’s display panel subsidiary, TCL China Star Optoelectronics Technology Co. Ltd., reported revenue exceeding 100 billion yuan and net profit surpassing 8 billion yuan.
