JD.com swings to loss
JD.com Inc. swung to a net loss of 2.7 billion yuan ($391 million) in the fourth quarter of 2025, compared with a profit of 9.9 billion yuan a year earlier, as the fading impact of government trade-in subsidies weighed on its core electronics business and heavy investment in new ventures squeezed margins. The quarterly loss underscores the company’s challenge in balancing costly expansion into food delivery and overseas markets with cooling consumer demand in China, particularly as Beijing scales back retail stimulus measures.
Bilibili posts first annual profit
Bilibili Inc. reported its first-ever annual profit, driven by surging advertising revenue and tighter cost controls that have placed the company on firmer financial footing. For full-year 2025, the Chinese video platform posted a net profit of 1.2 billion yuan ($174 million), reversing a loss a year earlier, according to financial results released Thursday.
China’s AI industry surpasses 1.2 trillion yuan in value
China’s core artificial intelligence industry surpassed 1.2 trillion yuan ($174 billion) in 2025 and expanded to more than 6,200 enterprises, according to the country’s industry minister. Speaking Thursday during the annual legislative meetings known as the “Two Sessions,” Minister of Industry and Information Technology Li Lecheng said AI has become a powerful driver of high-quality economic development.
Huawei’s two auto units join hands on lidar
Chiefs from Huawei Technologies Co. Ltd.’s two automotive business groups appeared on the same stage together for the first time to launch a next-generation lidar product for smart cars, signaling deeper alignment as competition in China’s auto market heats up. Jin Yuzhi, CEO of the intelligent automotive solution business unit, said at Wednesday’s launch event that compared with the previous-generation 192-line lidar, the new 896-line lidar can map a car’s surrounding environment at image-grade clarity, which allows driver-assistance systems to take precautionary measures for safer driving.
Tactile sensor startup PaXini raises over 1 billion yuan
PaXini Tech, a startup specializing in tactile sensors for robots, announced the completion of a Series B funding round worth over 1 billion yuan ($145 million), pushing its valuation past 10 billion yuan. The round was led by investors including Huangpu River Capital and Kaitai Capital.
3D large model startup VAST secures $50 million
VAST, an artificial general intelligence startup, announced the completion of a $50 million Series A funding round. The round was co-led by Alibaba Group Holding Ltd. and Hengxu Capital, with participation from investors including Baidu Ventures and Primavera Capital Group.
