Enflame

Zhuma Innovation completes Angel+ round financing, defining consumer-grade spatial cameras to capture new data for embodied world models

Zhuma Innovation has completed tens of millions of RMB in Angel+ financing and aims to use its consumer-grade spatial camera Pebble as an entry point to convert real-world 3D spatial data into computable and trainable assets for content creation, spatial intelligence, and robotics/embodied AI model training.

Unpacking China | Key Chinese Firms to Watch This Week （17/05/2026-23/05/2026）

Amid fast-paced changes that fill the business community with excitement, angst and trepidation, EqualOcean will publish a series of roundup articles to document the major events related to Chinese companies going global every week.

HiDream.ai announces completion of a new round of hundred-million-level financing, and the official release of the native full-modal large model.

Completing another round of hundred-million-level financing, HiDream.ai releases the over-200-billion-parameter native full-modal large model HiDream-O1-Image-Pro.

Approaching.AI has completed a Pre-A round financing of several hundred million yuan

Approaching.AI announced the completion of a Pre-A round financing worth hundreds of millions of yuan.

Computing power is productivity: An infrastructure competition concerning the next ten years

As of the end of March 2026, the total scale of national intelligent computing power has reached 1882 EFLOPS (FP16), and the number of standard racks in active computing centers has reached 14.45 million, more than doubling compared to two years ago.

Survival Rules for Turbulent Times: A Compilation of the 20 Most Unmissable Core Insights from the 2026 Tsinghua PBCSF Forum

A dialogue between Zhu Min, former Deputy Governor of the People's Bank of China and former Vice Managing Director of the International Monetary Fund; Michael Spence, 2001 Nobel Prize winner in Economics and Philip H. Knight Professor Emeritus of Management at Stanford Graduate School of Business; and Masaaki Shirakawa, former Governor of the Bank of Japan, at the 2026 Tsinghua PBCSF Global Finance Forum.

Doubao starts charging, Musk's xAI seeks change, the large model track welcomes a new turning point

The new journey of large models has already begun, transitioning from a tech carnival to value realization, and from unchecked growth to rational prosperity. This is an inevitable choice for the industry, and even more so, the defining trend of our time.

Unpacking China | Key Chinese Firms to Watch This Week （10/05/2026-16/05/2026）

Amid fast-paced changes that fill the business community with excitement, angst and trepidation, EqualOcean will publish a series of roundup articles to document the major events related to Chinese companies going global every week.

Alibaba (阿里巴巴) and Tencent (腾讯) Earnings Reports Signal AI Expansion; Platform Enterprises Accelerate Global Layout

On May 13, Alibaba (阿里巴巴) and Tencent Holdings (腾讯控股) released their latest financial reports, with computing power and AI expansion becoming the primary focus of market attention. Simultaneously, JD.com (京东) and Pinduoduo (拼多多) are accelerating brand expansion in the cross-border e-commerce sector, while Meituan's (美团) international food delivery business continues to progress.

ByteDance (字节跳动) Raises 2026 AI Infrastructure Budget to 200 Billion RMB, Accelerating Shift to Domestic Chips to Hedge Supply Chain Risks

On May 9, according to the South China Morning Post citing sources familiar with the matter, ByteDance (字节跳动) has raised its 2026 AI infrastructure capital expenditure plan to 200 billion RMB (approximately $29.4 billion), an increase of at least 25% from the 160 billion RMB scheme drafted at the end of last year.

Unpacking China | Key Chinese Firms to Watch This Week （03/05/2026-09/05/2026）

Amid fast-paced changes that fill the business community with excitement, angst and trepidation, EqualOcean will publish a series of roundup articles to document the major events related to Chinese companies going global every week.

Moonshot AI (月之暗面) Completes $2 Billion Funding Round, Valuation Surpasses 140 Billion CNY to Top Domestic Large Model Rankings

On May 7, the domestic General Artificial Intelligence (AGI) unicorn Moonshot AI (月之暗面) reportedly closed a new private equity funding round of approximately $2 billion, bringing its post-money valuation officially past $20 billion.

Spirit AI (千寻智能) and Bosch China (博世中国) Sign Strategic Cooperation Agreement to Accelerate Large-Scale Implementation of Embodied Intelligence

On May 6, Spirit AI (千寻智能), a leading domestic embodied intelligence company, and Bosch China (博世中国), the global technology and services giant, officially signed a strategic cooperation agreement.

Politburo Meeting Sets Tone for "15th Five-Year Plan" Start, Addressing "Involuted" Competition and Implementing "AI Plus" Initiative

On April 28, the Political Bureau of the CPC Central Committee (中共中央政治局) held a meeting to analyze the current economic situation. The meeting noted that China's economy saw a strong start in the first quarter (GDP grew 5.0% year-on-year), with major indicators exceeding expectations. As the first Politburo meeting focused on economic work following the start of the "15th Five-Year Plan" (十五五) cycle, it released policy signals characterized by a high sense of urgency.

China Prohibits Foreign Acquisition of Manus Project, Marking Strictest Ruling Since Implementation of Security Review Measures

On April 27, the Office of the Working Mechanism for Security Review of Foreign Investment, under the National Development and Reform Commission (NDRC), officially issued an announcement. In accordance with laws and regulations, the office reached a decision to prohibit foreign investment in the Manus project and explicitly required the involved parties to rescind the acquisition transaction.

DeepSeek Reportedly Initiates $20 Billion Valuation Funding Round; Alibaba and Tencent May Invest $1.8 Billion to "Ensure Stability"

On April 24, multiple media outlets confirmed that the Chinese large-scale model company DeepSeek (深度求索) has officially launched its first external equity funding round. Currently, Alibaba (阿里巴巴) and Tencent (腾讯) are in talks for a joint investment in DeepSeek, with the total investment expected to reach $1.8 billion, targeting a post-money valuation of $20 billion.

Unpacking China | Key Chinese Firms to Watch This Week （19/04/2026-25/04/2026）

Amid fast-paced changes that fill the business community with excitement, angst and trepidation, EqualOcean will publish a series of roundup articles to document the major events related to Chinese companies going global every week.

DeepSeek-V4 Officially Released and Open-Sourced; Full Compatibility Achieved with Ascend 950 and A3 Supernodes

On April 24, DeepSeek, a leading force in Chinese AI, officially released and open-sourced its fourth-generation models: DeepSeek-V4-Pro and DeepSeek-V4-Flash. This series represents a significant leap in technical architecture, expanding the context window from 128K to 1M.

Synthetic Biology: Who Will Emerge as the Winner?

The 21st century is the century of biology. Synthetic biology is believed to be a ‘World Changing’ industry. But the potential risks like cost control and commercialization pathways are fatefully tied to the ups and downs of countless investment decisions and the destiny of the many new start-ups getting involved. We look forward to seeing an emerging ‘giant’ on the horizon of this exciting industry.

Bloomage: Injecting Biotechnology into Beauty Care

Listed on the Chinese Star Market in November 2019, Bloomage was trading at CNY 138.01 as of June 24, 2020, over 38% higher than the IPO price of CNY 100.