ByteDance sells game studio Moonton to Saudi wealth fund
ByteDance Ltd. has agreed to sell its video game studio Moonton to a subsidiary of Saudi Arabia’s sovereign wealth fund, according to an internal letter seen by Caixin. Moonton will become a wholly owned subsidiary of Savvy Games Group, a unit of the Public Investment Fund (PIF), Moonton CEO Zhang Yunfan said in the letter. The studio’s management structure will remain unchanged, with its headquarters staying in Shanghai and Zhang continuing as CEO. Zhang said the partnership with Savvy would bring broader development opportunities and provide accelerated vesting and payouts of previously granted long-term incentives to employees.
Tencent integrates AI Lab with Hunyuan team
Tencent Holdings Ltd. is dismantling its once-prominent AI Lab and folding the unit into its Hunyuan large-model team, a sweeping consolidation aimed at sharpening the company’s focus in an intensifying artificial intelligence race. According to an internal company notice issued Friday, Tencent will disband the AI Lab established in 2016, retaining only its industry-academia collaboration center. Some personnel will be transferred to the Hunyuan large-model team under Chief AI Scientist Yao Shunyu, while the head of the multimodal department will report to Technology and Engineering Group President Lu Shan. Tencent Vice President Jiang Jie will no longer oversee the lab.
XPeng reports first-ever quarterly profit
XPeng Inc. recorded a net profit of 380 million yuan ($5.5 million) in the fourth quarter of 2025, marking its first profitable quarter since going public in 2020, according to its earnings report released on Friday. The Chinese electric vehicle maker narrowed its full-year net loss to 1.1 billion yuan in 2025 from 5.8 billion yuan in 2024, while annual revenue surged 87.7% year-on-year to 76.7 billion yuan.
Unitree Robotics files for STAR Market IPO
Unitree Robotics has filed for an IPO on Shanghai’s STAR Market, seeking to raise 4.2 billion yuan ($608 million). The IPO application, accepted by the Shanghai Stock Exchange on Friday, provides the first public glimpse into the company’s financials. It shows a rapid and profitable pivot from quadruped robots to humanoid models, which have become its primary source of revenue. According to the prospectus, Unitree recorded net losses of 22.1 million yuan and 11.2 million yuan in 2022 and 2023, respectively, before turning profitable with net income of 94.5 million yuan in 2024. In the first nine months of 2025, the company reported net income of 105 million yuan on revenue of 1.2 billion yuan.
Xiaomi launches three AI models
Xiaomi Corp. on Thursday unveiled three in-house artificial intelligence large models, marking an aggressive push by the Chinese tech company to compete in the fast-evolving generative AI race. The company introduced its flagship base model, Xiaomi MiMo-V2-Pro; a multimodal base model, Xiaomi MiMo-V2-Omni; and a speech synthesis model, Xiaomi MiMo-V2-TTS. The models are designed for a range of applications, including AI agent reasoning, multimodal processing and voice interaction.
WeChat introduces ClawBot plugin
Tencent’s WeChat officially launched the ClawBot plugin on Sunday, allowing users to integrate OpenClaw directly into the messaging app. The feature enables users to access the tool for interactive chats by scanning a QR code or copying a command.
