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.
Overview
1. XPENG (Stock Code: XPEV(NYSE); 09868.HK(HKEX)): Right-hand Drive Version of XPENG X9 to Begin Local Production in Jakarta in July；
2. Alibaba (Stock Code: BABA(NYSE); 09988.HK(HKEX)) Reports Revenue of CNY 996.347 Bn for FY2025, Strong Performance in Cross-Border；
3. Indonesian Expresses Willingness to Collaborate with China on Battery Ecosystem Project；
4. ROBOTPHOENIX Submits Prospectus to HKEX；
5. Roborock (Stock Code: 688169) Submits Listing Application to Hong Kong Stock Exchange
6. BYD’s (Stock Code: 002594; 01211.HK(HKEX)) First Vehicle Rolls Off the Line at Brazil Factory
7. Alibaba Cloud Will Invest Over CNY 400 Mn to Support International Ecosystem Development
Event Highlights & Commentary
1. XPENG: Right-hand Drive Version of XPENG X9 to Begin Local Production in Jakarta in July
【Event】Chinese electric vehicle manufacturer XPENG Motors has officially launched the XPENG X9 in Indonesia on June 26, with a starting price of IDR 990 million. Additionally, the right-hand drive version of the XPENG X9 will begin local production in Jakarta in July, marking the commencement of XPENG's first overseas localized manufacturing project in Indonesia.
XPENG entered the Indonesian market in early 2025. PT Sinar Eka Selaras Tbk (ERAL), a subsidiary of the Erajaya Group, became XPENG's exclusive agent (ATPM) in Indonesia. XPENG plans to introduce two models for the Indonesian market: the mid-size SUV G6 and the seven-seat luxury MPV X9. For production, XPENG has partnered with Handal Indonesia Motor (HIM), which will be responsible for the local assembly of the G6 and X9 models.
Indonesia, alongside Thailand, is a rapidly growing market for electric vehicle sales in Southeast Asia and a key focus for Chinese car manufacturers expanding overseas. According to the Indonesian Automotive Industry Association, new energy vehicle sales in Indonesia are expected to increase by more than 43,000 units in 2024, a 150% year-on-year growth. Currently, 19 electric vehicle brands, including Chinese brands like BYD, WULING Motors, and Chery, are present in the Indonesian market. In 2024, despite entering the market only a year prior, BYD has achieved a 36% market share, with sales reaching 15,000 units, leading the Indonesian new energy vehicle market.
Local production will significantly enhance market response efficiency, providing more customized smart electric solutions for Indonesia and surrounding regions, accelerating technology adoption, and fostering equitable access to innovation, creating a win-win situation.
In addition to Indonesia, XPENG's global expansion also accelerates in other countries. From January to May, XPENG ranked first in overseas sales among Chinese new energy vehicle brands in nine countries, including Ireland, the Netherlands, Denmark, Norway, Finland, Portugal, Belgium, Singapore, and Israel. As of June, XPENG has expanded to over 40 countries and regions worldwide.
2. Alibaba Reports Revenue of CNY 996.347 Bn for FY2025, Strong Performance in Cross-Border
【Event】Recently, Alibaba Group released its annual report for FY2025, reporting a revenue of CNY 996.347 billion, a 6% year-on-year increase, and a net profit of CNY 125.976 billion, up 77%.
Driven by the demand for AI, Alibaba Cloud's annual revenue achieved double-digit growth, with AI-related product revenue showing triple-digit year-on-year growth for seven consecutive quarters. The cross-border business performed strongly, with the International Digital Commerce Group's annual revenue increasing by 29%.
2025 Fiscal Year Revenue of International Digital Commerce Group
Source: Alibaba Official Website
In AI, Alibaba launched and open-sourced several models over the past year, covering all sizes, modalities, and scenarios. The latest model, Qwen 3, released in April, leads in performance on several global benchmark lists. As of the end of April, Alibaba Qwen had open-sourced over 200 models, with global downloads exceeding 300 million, and the number of derivative models from the Qwen series exceeding 100,000, making it the world’s largest open-source model family. With Qwen as the base, Alibaba has accelerated AI upgrades across its businesses, including Taobao, Tmall, 1688, Alibaba.com, etc.
As the largest cloud service provider in the Asia-Pacific region, Alibaba Cloud has accelerated the internationalization of its AI products to support Chinese companies' global expansion. The annual report shows that by March 31, 2025, Alibaba Cloud provided cloud computing services to 34 regions worldwide.
In overseas e-commerce, benefiting from strong cross-border e-commerce performance, Alibaba's International Digital Commerce Group (AIDC) maintained robust growth in FY2025. AIDC manages businesses like Lazada, AliExpress, Trendyol, and Alibaba.com. The report indicates that by March 31, AliExpress had expanded to over 200 countries and regions worldwide. For FY2025, driven by revenue growth from AliExpress and Trendyol, AIDC’s international retail business saw a 33% revenue increase. In addition, Lazada, one of Southeast Asia's largest online shopping platforms and Alibaba’s flagship e-commerce platform in the region since 2016, continued to improve its unit economics. The overseas e-commerce business is expected to achieve overall profitability in the next fiscal year's single quarter. Previously, Alibaba’s main international operations were in Southeast Asia (Lazada), South Asia (Daraz), East Asia, the Middle East, and Africa (Trendyol). The opening of the AliExpress Germany site to local sellers in May further signals Alibaba’s acceleration into the European market.
3. Indonesian Expresses Willingness to Collaborate with China on Battery Ecosystem Project
【Event】On June 29, Indonesian President Prabowo stated that the Indonesian battery ecosystem project will make Indonesia the only country in Southeast Asia capable of achieving integrated production across the entire value chain of battery manufacturing, from upstream to downstream. He expressed willingness to work with Chinese partners to promote this milestone strategic project.
The Indonesian battery ecosystem project is jointly invested in and constructed by Indonesia's state-owned mining company Antam, Indonesian Battery Corporation (IBC), and CBL International Development Pte Ltd. (CBL). The total planned investment is USD 5.9 billion, with manufacturing sites located in East Halmahera, North Maluku, and Karawang, West Java. The project covers the entire battery production industry chain, including laterite nickel ore development, pyrometallurgical refining, hydrometallurgical refining, battery materials, battery recycling, and battery manufacturing.
For a long time, Indonesia, as a major economic power in Southeast Asia and a global supplier of mineral resources, has demonstrated unique cooperative potential. The country is rich in mineral resources, including significant deposits of high-quality nickel, tin, copper, gold, and coal, with a particularly abundant nickel resource. Indonesia holds the largest nickel laterite reserves globally, accounting for one-quarter of the world’s nickel resources, making it a hotspot for global new energy. In comparison, China’s nickel reserves account for only 3% of global supply.
Given Indonesia's rich nickel resources and potential in the new energy industry, Chinese companies have made large-scale investments and actively expanded in the fields of nickel mining and processing in Indonesia. Furthermore, guided by the Belt and Road Initiative, Chinese enterprises have deepened their foreign investment cooperation, accumulating policy practice and industrial foundations that provide important support for Chinese companies to build a complete nickel industry chain in Indonesia. In-depth cooperation between China and Indonesia in these areas will help promote the development of both countries' new energy industries, support global low-carbon transformation, and contribute to global sustainable development.
4. ROBOTPHOENIX Submits Prospectus to HKEX
【Event】ROBOTPHOENIX officially submitted its prospectus to the Hong Kong Stock Exchange on June 30, 2025, planning to list on the main board under Chapter 18C. Agricultural Bank of China International is acting as the sole sponsor.
According to the prospectus, the net proceeds from the IPO will primarily be used for robot technology development, production line development and capacity expansion, establishing an overseas business network, investments in the supply chain, and supplementing working capital.
Founded in 2012, ROBOTPHOENIX is a comprehensive industrial robotics company specializing in the design, R&D, manufacturing, and commercialization of industrial robots, offering integrated robotic solutions with a focus on the light industry. Its clients include the world's largest smartphone display supplier, global leaders in bioactive materials and synthetic biology, one of the world's largest suppliers of miniature acoustic devices, one of the largest manufacturers of new energy vehicles, and a leading global provider of integrated medical system solutions.
As of now, ROBOTPHOENIX's global clients cover 28 provinces, autonomous regions, and municipalities in China, as well as over 20 overseas countries and regions, including Europe, North America, Latin America, and Southeast Asia. While supporting the global expansion of domestic clients, ROBOTPHOENIX also helps overseas clients upgrade their smart manufacturing technologies. From 2022 to 2024, ROBOTPHOENIX’s overseas revenue steadily increased, with overseas revenue reaching approximately CNY 25.5 million in 2024, accounting for about 9.5% of the annual revenue.
Currently, as global manufacturing accelerates its transition to smart automation, the demand for industrial robots and related robotic solutions is rising sharply. In the light industry market, China's light industrial robotics market is expected to grow at a compound annual growth rate (CAGR) of 16.3%, reaching CNY 43.8 billion by 2029. The market for light industrial robot solutions in China is forecast to grow at a CAGR of 19.5%, reaching CNY 171 billion by 2029. According to a Frost & Sullivan report, ROBOTPHOENIX ranks fifth among suppliers of industrial robots and related solutions in China's light industry sector.