Overview
1. Anker and Romoss Recall Over One Mn Power Banks
2. Trump Has Issued Tariff Threats to 14 Countries
3. Embodied Intelligence Company ROBOTERA Raises Nearly CNY 500 Mn in Series A Round
4. Global Warehouse Robot Leader Geek+ Robotics Successfully Lists on the HKEX
5. The 17th BRICS Summit Opens in Rio de Janeiro
6. The National Development and Reform Commission of China Signs AI Cooperation Agreement with Relevant Brazilian Authorities
7. BYD Puts Plans for Mexican Factory on Hold
8. Hong Kong Stock Market Continues Positive Momentum, Surge in IPO Applications
9. China and Malaysia Visa Exemption Agreement to Take Effect on July 17
10. Modern China Tea Shop（茶颜悦色）to Launch Retail Business in North America via E-commerce
Event Highlights & Commentary
1. Anker and Romoss Recall Over One Mn Power Banks
【Event】Recently, the mass recall of power banks has garnered significant attention. Brands such as Romoss and Anker Innovations have recalled over one million products globally. Among them, Anker, with over 95% of its sales in overseas markets, recalled 1.16 million power banks in the United States, 416,789 in Japan, and initiated recalls in Southeast Asia as well.
The Civil Aviation Administration of China （CAAC）has issued an urgent notice prohibiting passengers from carrying power banks without the CCC certification mark or those included in the recall list on domestic flights.
Source: Anker Innovations 2024 Annual Report
The main reasons for the recall include welding errors in the battery cells, which can lead to overheating and short circuits, as well as excessive impurities in the battery's positive electrode, affecting the safety and stability of the batteries. The issue stemmed from the supplier's unauthorized change of the battery cell's raw materials without approval. Anker has stated it will cover all costs arising from the recall and offer consumers free replacements or gift vouchers. Romoss, on the other hand, has undergone management changes and faced operational crises, including factory shutdowns and difficulties in processing consumer refunds.
【Comment】This incident highlights the hidden risks that companies face when expanding overseas, particularly in product quality control and compliance. Overseas markets have higher standards for product safety. Companies should familiarize themselves with local regulations regarding product safety and recall systems, strictly control each step of the supply chain to ensure brand quality, and maintain compliance to protect their brand image. Failure to address product issues and comply with regulations can result in damaged product reputation, hefty fines, and hinder long-term business development in the local market.
2. Trump Has Issued Tariff Threats to 14 Countries
【Event】On July 7, local time, U.S. President Donald Trump announced on social media that he had sent tariff letters to multiple countries. As of now, he has issued the latest tariff threats to 14 countries.
Among them, Japan, South Korea, Kazakhstan, Malaysia, and Tunisia face a 25% tariff rate; South Africa and Bosnia face a 30% tariff rate; Indonesia faces a 32% tariff rate; Bangladesh and Serbia face a 35% tariff rate; Thailand and Cambodia face a 36% tariff rate; and Laos and Myanmar face a 40% tariff rate. These tariffs will take effect on August 1.
Trump stated that these tariffs are separate from industry-specific tariffs, and any attempt to bypass them through third-country shipments will result in even higher tariffs. He further clarified that companies choosing to build factories or produce goods in the U.S. will not be subject to these tariffs. Additionally, if these countries decide to increase tariffs on U.S. goods, the U.S. will impose equivalent tariffs based on existing rates. Earlier, the White House indicated that Trump would sign an executive order to extend the tariff negotiation deadline to August 1.
【Comment】The tariff increase may stem from discussions at the recent BRICS summit regarding global tariff rises. According to The Washington Post, on July 6, the 17th BRICS summit was held in Rio de Janeiro, Brazil, where a statement was issued that "indirectly criticized" the U.S. The statement expressed "serious concern" about rising tariffs, calling them "inconsistent with WTO rules." The statement also warned that these restrictions "could reduce global trade, disrupt global supply chains, and create uncertainty." Trump responded on his social media platform, stating: "Any country that aligns with BRICS' anti-American policies will face an additional 10% tariff. No exceptions."
3. Embodied Intelligence Company ROBOTERA Raises Nearly CNY 500 Mn in Series A Round
【Event】On July 7, Tsinghua University-backed embodied intelligence company ROBOTERA announced the completion of a nearly CNY 500 million Series A funding round. The funds will be used for the development and mass production of humanoid robot hardware and software technologies.
Founded in August 2023, ROBOTERA is the only embodied intelligence company owned by Tsinghua University. Its technology approach integrates both hardware and software, with current products including the wheeled humanoid robot Q5, the full-sized bipedal robot STAR 1 for industrial use, and the dexterous five-finger hand XHAND1.
In terms of commercialization, the company has begun large-scale deliveries and is accelerating product deployment in various scenarios. As of June, more than 200 units have been delivered this year, with hundreds more orders in mass production. Over 50% of all orders come from overseas clients, including top-ten global tech companies (excluding Tesla). The company is driving product deployment in high-value scenarios such as industrial logistics and chain retail, and is engaging in strategic partnerships with smart logistics companies to explore the potential applications of humanoid robots in logistics. This is expected to lead to successful implementation in complex industrial logistics scenarios (such as handling, sorting, and scanning).
Globally, 2025 is expected to be the "year of mass production" for humanoid robots. Humanoid robots have largely moved beyond the experimental stage and are now entering initial commercial trials. Both large and small players are joining the market, with many products already being used in factories. Chinese companies such as Unitree Robotics, UBTECH Robotics, and AgiBot are also rapidly advancing product upgrades and commercialization. Industry experts believe that China has a prominent advantage in the humanoid robotics industry, with enormous future growth potential that could drive a trillion-dollar market.
4. Global Warehouse Robot Leader Geek+ Robotics Successfully Lists on the HKEX
【Event】On July 9, Chinese intelligent robotics company Geek+ Robotics (stock code: 02590.HK) successfully listed on the main board of the Hong Kong Stock Exchange. This marks Geek+ Robotics as the first publicly listed company in the global AMR (Autonomous Mobile Robot) warehouse robotics market. The company priced its shares at HKD 16.80 per share, with a market capitalization of HKD 22.19 billion.
Geek+ Robotics leads the global AMR market and is the largest provider of warehouse fulfillment AMR solutions globally (based on 2024 revenue). Its self-developed large-scale multi-robot hybrid scheduling system supports over 5,000 devices operating in parallel within a single warehouse and has extensive real-world deployment experience, creating a core technological barrier for handling the complex scenarios of super-large warehouses. In terms of product strategy, the company offers comprehensive robot solutions for various warehouse scenarios, with all robots capable of collaborative scheduling under a unified software platform. This creates an integrated robot solution covering the entire process from material handling, picking, sorting, to restocking.
In 2024, the company’s revenue grew by 12.4% year-on-year to CNY 2.41 billion, and gross profit increased by 27.0% to CNY 837 million, with a significant rise in gross margin to 34.8%. Geek+ Robotics is now the largest revenue-generating company among the publicly listed robotics firms in Hong Kong, with continuous improvements in both its gross profit structure and operational efficiency. The company's annual order volume has increased from CNY 1.59 billion in 2021 to CNY 3.14 billion in 2024, with steadily growing signed customer orders.
Source: Geek+ Robotics Prospectus
From the outset, Geek+ Robotics has strategically expanded into overseas markets. As Chinese companies like CATL accelerate their global expansion by establishing production bases worldwide, Geek+ Robotics has followed suit in extending its international presence. Additionally, thanks to the significant advantages its innovative products provide in enhancing customer operational efficiency, Geek+ Robotics' solutions have been adopted by numerous multinational companies, expanding from their China operations to Europe, Japan, and North America.
The company has keenly capitalized on this internationalization opportunity, and its overseas business expansion is progressing smoothly. By 2024, Geek+ Robotics’ business has reached over 40 countries and regions globally, serving more than 800 major global clients and deeply penetrating industries like 3PL (third-party logistics) and e-commerce. In 2024, 72.1% of Geek+ Robotics' AMR solution revenue came from markets outside mainland China.