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Technology

Zhongji Innolight raises $6.8 billion in Hong Kong IPO amid strong retail demand

Zhongji Innolight has priced its Hong Kong H-share offering at HK$980 per share and raised HK$53.41 billion, or about $6.81 billion. Trading is scheduled to begin on July 30, making the deal one of Hong Kong’s largest listings in years. Demand was already visible before the debut: the retail tranche was 9.17 times oversubscribed and attracted HK$55.99 billion in margin loans. Hong Kong Exchanges and Clearing also plans to introduce options and short-selling eligibility for the shares on their first trading day. Zhongji Innolight makes optical transceivers that convert electrical and optical signals for high-speed data transmission. Its products are used in data centers, cloud infrastructure and AI systems, linking servers and other network equipment through fiber-optic networks. [The Standard] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

July 30, 2026

Technology

China reportedly moves to bar blue ADAS lights on newly certified vehicle models

China is reportedly moving to bar newly certified passenger-car models from using blue exterior lights that signal when an assisted-driving system is active. Starting with the Ministry of Industry and Information Technology’s 410th batch of vehicle product applications, testing agencies would reject submitted models fitted with the lights. The reported measure would target new model applications rather than all vehicles already on the road. Authorities are still studying how to handle vehicles that have already been sold. The lights are used to indicate active L2 or higher assisted driving, but China’s current GB4785 standard lists white, yellow and red as permitted exterior lighting colors and does not include blue. [Sina Auto, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

July 30, 2026

Technology

Coolpad plans 2026 expansion into AI infrastructure

Coolpad plans to expand its AI infrastructure business in 2026, covering AI computing devices, intelligent storage systems and integrated solutions. The company also plans to establish an AI infrastructure delivery center at its Shenzhen industrial park. The move would broaden Coolpad beyond its original smartphone and consumer-electronics business. The company is also seeking cooperation with domestic and international enterprises and plans to develop AI agents for vertical industries after integrating them with compliant hardware. [Hong Kong Stock Exchange] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

July 30, 2026

Technology

Moonshot AI reportedly closes $3.5 billion round at $35 billion valuation

Moonshot AI has reportedly closed a funding round that raised about $3.5 billion and valued the Beijing-based company at $35 billion. The round was roughly twice the upper end of the $1 billion to $2 billion target the company had initially set. The financing comes as Moonshot prepares for another private round that could value it at up to $50 billion before a potential Hong Kong listing. The company’s annual recurring revenue reportedly rose from $100 million in March to $300 million in June, adding a business-growth metric to the valuation story. [Bloomberg] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

July 30, 2026

Technology

ByteDance restructures AI business, merging Doubao and Feishu product teams

ByteDance today launched an organizational restructuring initiative centered on its AI business, aiming to enhance collaboration among Doubao, Feishu, and Volcano Engine in enterprise productivity scenarios. As part of the restructuring, the Feishu product team will be merged with the Doubao product team to form a new Doubao product organization. Feishu’s GTM team will be integrated with Volcano Engine’s team to establish a new enterprise-focused GTM organization, dubbed the Creativity Service Platform. The new unit will oversee the marketing, sales, and customer support operations for ByteDance’s MaaS (Model-as-a-Service) and SaaS (Software-as-a-Service) offerings. Following the restructuring, Feishu’s existing products and services will remain unchanged. However, the two teams will deepen collaboration on AI-powered productivity solutions. Sources said the Doubao Enterprise Edition, developed with major involvement from the Feishu product team, has already entered internal testing with selected Feishu customers. [IThome, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox.

July 30, 2026

Technology

Dark Horse Muka Robotics Charges WorldArena With Only 32 Zhenwu 810E GPUs: LJM World Model Achieves Global Second Place Defining the Breakthrough From Video Quality to Physical Logic

Muka Robotics LJM Latent Joint-conditional Model achieves WorldArena global #2 at 89.17 Motion Quality with only 32 GPUs, establishing a dual-expert architecture that prioritizes physical understanding over video generation quality.

July 30, 2026

Technology

Tencent WorkBuddy Monthly Active Users Exceed Alibais Entire AI Product Portfolio, Pushing DingTalk CEO to Launch Qianwen Office in Just 46 Days: The Desktop AI Office Battle Heats Up

WorkBuddy 20.97M monthly visits surpass Alibaba QoderWork 7.88M combined portfolio; DingTalk new CEO Chen Yusen launches Qianwen Office from product consolidation in 46 days as competitive response.

July 30, 2026

Technology

Tencent WorkBuddy Launches Human-Agent Dual Writing: Office Suite Built Into AI Agent With Real-Time Collaborative Editing Across Word Excel PPT and Markdown

WorkBuddy V5.3.5 with Tencent Docs integration enables box-select-and-edit AI collaboration in Office documents, supporting local Office files and cloud documents with contextual multi-modal intelligence.

July 30, 2026

Technology

Chinese Tech Companies Used to Benchmark Against America, but the World Model Field Has Broken That Pattern: WAIC Panel Says China Now Leads Without a US Counterpart to Follow

At WAIC 2026, Muka Robotics, Shengshu Technology, EvoPhys.ai, and Chengwei Capital discuss how Chinas world model startups now operate without US analogs, turning the conventional catch-up narrative.

July 30, 2026

Technology

From Assembly Line to Global Intelligent Manufacturing Center: Dongguan Redefines Itself as AI Hardware Capital With 24,000 Companies and Half of Worlds AI Glasses Output

Dongguan produces half the worlds AI glasses with 400K+ units in 2025, 24,000 industrial enterprises, 10K+ high-tech firms, national AI pilot base, and 1-hour supply chain for smart manufacturing.

July 30, 2026

Technology

China’s renewable energy generation surpasses 40% of total power output for first time in H1 2026

According to CCTV News, the National Energy Administration (NEA) held a press conference on Wednesday, announcing that China’s renewable energy sector saw rapid growth in the first half of 2026, with renewable power generation accounting for more than 40% of total electricity generation for the first time. During the first half of the year, China’s renewable energy generation reached nearly 2 trillion kWh, up about 9% year over year. Combined power generation from wind and solar sources totaled 1.25 trillion kWh, an increase of 9.3% year over year. In terms of installed capacity, China added 117 million kW of renewable energy capacity in the first half of the year, accounting for 73.9% of the country’s total newly added power capacity. Renewables continued to lead new capacity growth. By the end of June, China’s total renewable energy capacity had reached 2.455 billion kW, which accounted for more than 60% of the country’s total installed power capacity. Meanwhile, coal-fired power generation totaled 2.5 trillion kWh in the first half of the year, with its share of total electricity generation falling to 49.7%.

July 30, 2026

Technology

China’s H1 game market sees mobile growth, PC boom, continued slump in web and console games

According to data released at the China Digital Entertainment Expo & Conference (ChinaJoy), China’s mobile gaming market generated RMB 135.21 billion ($19.98 billion) in actual sales revenue during the first half of the year, up 7.9% year over year. The PC game market posted RMB 45.29 billion ($6.69 billion) in actual sales revenue, marking a 27.92% year-over-year increase. Meanwhile, the web game market generated RMB 2.02 billion ($300 million) in actual sales revenue, down 8.47% from a year earlier, extending its decline for a third consecutive year. The console game market recorded RMB 961 million ($142 million) in actual sales revenue, a 7.06% year-over-year decrease. [China Star Market, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

July 30, 2026