Memory chip maker YMTC moves toward IPO
Yangtze Memory Technologies Co. Ltd. (YMTC) has formally launched its initial public offering process after China’s securities regulator accepted the company’s pre-listing tutoring application Tuesday. The domestic listing of China’s leading NAND flash memory maker is expected to command a massive valuation, with market estimates placing the company’s worth at between 2 trillion yuan ($277 billion) and 3 trillion yuan. The anticipated IPO of the national memory-chip champion highlights Beijing’s efforts to finance semiconductor self-sufficiency as domestic technology firms expand rapidly despite strict U.S. export controls.
Bilibili swings to profit as ads, gaming rebound
Bilibili Inc. said first-quarter adjusted net profit rose 62% from a year earlier, as artificial intelligence helped expand video supply and supported faster growth in advertising revenue. Revenue rose 7% to 7.47 billion yuan ($1.09 billion). Net income was 202 million yuan, reversing a loss a year earlier, while adjusted net income was 590 million yuan. Gross margin rose to 37.1%, the company’s 15th consecutive quarter-on-quarter increase, aided in part by rapid growth in advertising, which accounted for 35% of revenue. Viewing time for AI-related content on Bilibili rose 44% from the previous quarter. Videos related to OpenClaw generated nearly 90 million views, while searches for terms such as “AI agents” and “AI entrepreneurship” rose more than 500% year on year. Virtual idols drove a 40% increase in viewing time for AI music videos.
Robot-dog maker Deep Robotics seeks $370 million Shanghai IPO
Hangzhou robot maker Deep Robotics is seeking to raise 2.5 billion yuan ($367.6 million) in a Shanghai listing, after turning profitable in 2025 on revenue that more than tripled. The filing adds to a rush of Chinese robotics companies seeking public capital as the country pushes embodied AI and industrial automation, with investors weighing rapid growth against still-early commercial adoption. The company posted net losses of 25.9 million yuan and 13.3 million yuan in 2023 and 2024, before recording a net profit of 28.7 million yuan in 2025.
Tencent launches big data AI agent workstation
Tencent Cloud on Tuesday officially released DataBuddy, a big data AI agent workstation. The tool allows users to complete the entire workflow of data integration, development, governance and analysis through natural language dialogue, eliminating the need to switch between multiple interfaces.
