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Meituan's LongCat team proposes a new AI problem-solving framework to enhance the ability of large models to solve complex problems

Honda's China Sales Plummet in April, Falling Short of a Single BYD Model

BYD launches the Han EV Flash Charging Edition, starting at 179,800 RMB.

Meituan reportedly leads a new financing round for AI company Moonshot AI, strengthening its AI investments

Kuaishou Announces 2025 Annual Report, Revealing Revenue and Equity Structure

Meituan and Qingju jointly deploy 3,000 shared bikes in Beijing's Huairou District

Xiaomi's New-Generation Smart Cockpit Passes Radio Approval by MIIT

WeChat Pay Launches Combined Payment Function

BYD's inventory hits a record high, while domestic sales plummet by 52%

CPCA: New energy passenger vehicle exports in April increased by 111.8% year-on-year, with BYD exporting 130,042 units

NetEase Smart Enterprise Launches Controllable AI Coding Platform CodeWave

BYD and Tesla deny allegations of battery complaint inquiries

Tencent Holdings reportedly joins AI company STEP's USD 2.5 billion financing round

China's AI model weekly usage surpasses the US again, with Tencent's Hy3 preview (free) remaining number one

Alibaba Releases New 'AI Dian Xiao Mi', Upgrading E-commerce Customer Service to AI Shopping Guides

Alibaba launches AI customer service product Dian Xiao Mi

Market rumors suggest Kuaishou's AI video model Kling may be spun off, with annualized revenue potentially reaching $500 million

BYD Becomes Brazil's Top-Selling Automaker in April, Surpassing Volkswagen and Toyota

Xiaomi Car Delivered 36,702 Units in April, SU7 Sales Surge

WeChat Updates Nine Features in April

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Car rental company Car Inc has signed a framework agreement with BYD for the delivery of up to 100,000 vehicles, including the installation of fast-charging stations at select locations in China. This partnership builds on a previous successful trial with 3,000 BYD plug-in hybrids. The agreement allows Car Inc to choose from a variety of BYD's electric and hybrid models, enhancing its fleet as it shifts towards electrification. The new Flash Chargers will significantly reduce charging times, improving the rental experience for customers.

- Car Inc, a major car rental company in China, is electrifying its fleet to align with the country's shift towards New Energy Vehicles, signing a framework agreement for up to 100,000 BYD vehicles.  
- Following a successful trial of 3,000 BYD plug-in hybrids, Car Inc integrated 30,000 BYD vehicles into its fleet and will also install BYD's fast chargers at its locations, enhancing the rental experience.  
- The partnership is further strengthened by BYD's warranty for commercial vehicles, which covers major components for six years or 600,000 kilometers, aiming to reduce costs and risks for fleet operators.

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Hwabao WP CSI Intelligent Electric Vehicle ETF

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Hua Xia CSI New Energy Vehicles ETF

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Car rental company Car Inc Orders up to 100,000 BYD vehicles

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Xiaomi EV delivered 36,702 cars in April, with the new-generation SU7 contributing 73% of sales. The SU7 saw 26,826 units delivered in its first full month, marking a 240.35% increase from March. The YU7 SUV delivered 9,876 units, down 27.16% from the previous month. The company aims for 550,000 units in 2026 and plans to enter overseas markets by 2027, starting with Europe. The surge in orders for the SU7 was driven by the end of initial launch benefits.

- Xiaomi EV delivered 36,702 cars in April, with the new-generation SU7 sedan accounting for over 70% of sales, leading to a 28.40% increase year-on-year.  
- The SU7 achieved 26,826 deliveries in April, marking a 240.35% rise from March, while the YU7 SUV saw a 27.16% decline to 9,876 deliveries.  
- Xiaomi's ambitious 2026 target is 550,000 units, requiring a 34% increase from 2025, and plans to enter international markets in late 2027.

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E Fund CSI Auto Components Thematic ETF

ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF

Guotai CSI 800 Automobile and Parts ETF

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Xiaomi HK SDR 2to1

Xiaomi EV delivers 36,702 cars in April, SU7 contributes 73%

BYD has launched a paid infotainment screen upgrade service for select models, including the Qin, Song, and Seal series, priced at 1,999 yuan ($294). This initiative aims to boost aftermarket revenue amid a 55% drop in first-quarter profits due to a price war and sluggish domestic demand. Despite a 6.96% month-on-month increase in NEV sales in April, year-on-year sales have declined for eight consecutive months. To counteract domestic challenges, BYD is focusing on overseas market growth, achieving record sales of 134,000 units in April, a 70.9% increase year-on-year.

- BYD has launched a paid infotainment screen upgrade service for select models, coinciding with a significant 55% drop in its first-quarter profit.  
- Owners can upgrade their screen sizes for a fee, reflecting the company's strategy to boost aftermarket revenue amid financial pressures and a declining domestic market.  
- Despite a rebound in new energy vehicle sales, BYD is focusing on overseas markets for growth and has also adjusted pricing for advanced driver assistance systems to address rising costs.

BYD launches paid screen upgrade service as China EV price war squeezes profits

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BYD has launched the 2026 Seagull, the first mini electric vehicle in China to feature LiDAR technology. The base model starts at 69,900 yuan ($10,290), while the LiDAR-equipped versions range from 90,900 to 97,900 yuan. The Seagull offers two battery options with ranges of 305 km and 405 km, and includes advanced driver assistance features. This model is part of BYD's Ocean lineup and aims to enhance competitiveness in the EV market.

- The 2026 BYD Seagull, starting at 69,900 yuan ($10,290), introduces LiDAR technology to the A00-class mini EV market, with a top price of 97,900 yuan for advanced features.  
- It offers two battery options with ranges of 305 km and 405 km, and notable features include city navigation assist and an upgraded interior.  
- This launch positions BYD to enhance its competitiveness in the budget EV segment, prompting rivals to reconsider their intelligent offerings.

ChinaAMC CSI Auto Components Thematic ETF

BYD launches 2026 Seagull, bringing LiDAR to micro EVs

BYD has secured a significant procurement agreement with Car Inc for 100,000 vehicles to enhance their green rental fleet. This partnership includes the installation of BYD's flash charging stations at rental locations, supporting BYD's "Flash Charging China" strategy. The collaboration aims to improve the charging infrastructure and user experience in China's car rental industry, with plans to build 20,000 flash charging stations by year-end. Additionally, BYD offers a six-year warranty on key vehicle components, reducing operational costs for rental companies.

- BYD has signed a 100,000-vehicle procurement agreement with Car Inc to enhance green mobility services and expand its electric rental fleet.  
- The partnership includes installing BYD's flash chargers at rental locations across China, aiming to improve user experience and strengthen BYD's market position.  
- This initiative is part of Car Inc's fleet electrification strategy, with plans to build 20,000 flash charging stations by year-end, significantly enhancing charging efficiency for consumers.

BYD secures 100,000-vehicle order from Car Inc in major push for flash charging

BYD announced the launch of its 2026 Seagull, the first entry-level EV equipped with LiDAR, set to go on sale on May 11. The updated model features increased motor power of 60 kW and an extended driving range of 505 kilometers. The Seagull, priced between 65,000 to 80,000 yuan, aims to democratize advanced smart driving technology in the micro EV market. In 2025, the current Seagull sold 529,537 units, making it a top seller in China. This move is part of BYD's strategy to enhance competitiveness in the EV market.

- BYD's 2026 Seagull, starting at 69,800 yuan ($10,260), goes on sale on May 11, featuring a LiDAR sensor, marking its first use in the micro EV market.  
- The upgraded model increases motor power from 55 kW to 60 kW and driving range from 405 km to 505 km, contributing to BYD’s competitive edge in the entry-level market.  
- With 529,537 units sold in 2025, the Seagull is a leading model in China, reflecting BYD's strategy to democratize advanced technology in affordable vehicles.

BYD to launch 2026 Seagull on May 11 as first entry-level EV equipped with LiDAR

BYD's sub-brand Linghui has launched the Linghui e9, a flagship C-segment sedan aimed at the commercial mobility market, starting at 150,800 yuan ($22,170). The e9 features BYD's second-generation Blade Battery and flash charging technology, allowing rapid charging from 10% to 70% in just 5 minutes. It offers two motor versions with ranges of 535 km and 605 km. The vehicle includes advanced driver assistance systems and attractive launch benefits for commercial customers, such as zero down payment options and free charging for up to 12 months.

- The Linghui e9, a new C-segment sedan from BYD's sub-brand Linghui, starts at 150,800 yuan ($22,170) and aims at the commercial mobility market, including ride-hailing services.  
- It features BYD's second-generation Blade Battery and advanced flash charging technology, allowing a charge from 10% to 70% in just 5 minutes, enhancing operational efficiency for commercial fleets.  
- With a length of 4,995 mm and two motor options, the Linghui e9 offers a range of 535 km and 605 km, along with benefits like zero down payment and free charging for potential buyers.

BYD's fleet-focused brand Linghui launches e9 flagship sedan equipped with flash charging

BYD's Datang SUV has surpassed 100,000 pre-orders just two weeks after its pre-sales began on April 24. The SUV, priced between 250,000 yuan ($36,750) and 320,000 yuan, boasts a maximum range of 950 kilometers and features advanced technology including a 1,000-volt architecture and megawatt-level flash charging. General manager Lu Tian highlighted this milestone as a sign of BYD's growing appeal in the premium market, with official launch and deliveries expected in the first half of the year.

- BYD's new Datang SUV began pre-sales on April 24, with prices starting at 250,000 yuan ($36,750) and a range of up to 950 kilometers.  
- The company reported over 100,000 pre-orders shortly after the launch, reflecting its increasing appeal in the premium market, with further growth expected.  
- The SUV features advanced technology such as megawatt-level flash charging and offers various powertrain options, including a dual-motor design that accelerates from zero to 100 kilometers per hour in 3.9 seconds.

BYD Datang SUV hits 100,000 pre-orders as brand expands high-end lineup

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China's wholesale sales of new energy vehicles (NEVs) in April are projected to rise 7% year-on-year and month-on-month, reaching approximately 1.22 million units, according to the China Passenger Car Association (CPCA). BYD leads the market with 314,100 units sold, followed by Geely and Chery. High oil prices and the recent Beijing Auto Show have driven consumer interest in NEVs, contributing to a rebound in sales as the industry emerges from its slow season. The CPCA also emphasizes the need for budget EV standards to stimulate demand in underdeveloped regions.

- China's wholesale sales of new energy vehicles (NEVs) reached approximately 1.22 million units in April 2026, marking a 7% increase year-on-year and month-on-month.  
- BYD led the market with 314,100 units sold, while other top automakers included Geely and Chery, reflecting the industry's recovery from the seasonal slowdown and improved consumer sentiment.  
- The rise in NEV sales is attributed to high oil prices driving consumer shifts away from internal combustion engines and the excitement generated by the Beijing Auto Show.

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China's April passenger NEV wholesale seen rising 7% to 1.22 million units

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The HSI opened up 317 points, or 1.2%, at 26,531, with the HSTECH gaining over 2%. Major stocks like TENCENT and MEITUAN-W rose by 2% and 2.4%, respectively. BIDU-SW and KUAISHOU-W jumped 5%. The DJIA and Nasdaq also saw gains, with the S&P 500 hitting a record high. MIDEA GROUP's shares fell after issuing convertible bonds, while BEONE MEDICINES reported a significant profit increase. Oil prices dropped over 10%, affecting stocks like PETROCHINA and CNOOC, which opened lower.

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