Weekly Overview（14/12-20/12）
1. Guangdong auto parts manufacturers continue to accelerate their expansion into the U.S. market.
2. Huawei (华为) announces plans to launch AI chips in South Korea next year, offering a “full-stack” solution.
3. J&T Express (极兔速递) partners with Thailand’s Department of Agricultural Extension to enable farm-to-market distribution of agricultural products.
4. Accelerating its global footprint, Changan Deepal (长安深蓝) exports the first batch of 500 vehicles from its factory to Europe.
5. Pop Mart (泡泡玛特) begins shipments through its partners in Indonesia, Cambodia, and Mexico.
6. In 2025, Africa-based e-commerce platform Jumia teams up with Chinese sellers to deepen the African market, upgrading cross-border operations and logistics networks.
7. Xiamen Tungsten (厦门钨业) plans to acquire 100% equity of German high-end cutting tool company mimatic.
8. Yu Jian Xiao Mian (遇见小面) lists in Hong Kong; its first Singapore store opens, marking the start of overseas expansion.
9. FAW Group (一汽) officially takes a stake in Leapmotor (零跑汽车), acquiring 5% for RMB 3.74 billion.
10. Meta acquires Manus in a deal worth several billion dollars.
11. Leapmotor (零跑汽车) unveils its ten-year strategy, targeting one million annual sales by 2026 and accelerating globally localized production.
Selected Developments
1. Huawei Announces Launch of AI Chips in South Korea Next Year, Offering a “Full-Stack” Solution
[Event] Recently, Huawei (华为) Korea announced at the “Huawei Day 2025” press conference that it will officially launch its next-generation artificial intelligence chip, Ascend 950 (昇腾950), in the South Korean market in 2026, marking a full-scale push into the country’s AI infrastructure sector.
Balian Wang, CEO of Huawei Korea, stated that Huawei aims to position itself as a “second choice” alongside NVIDIA, providing end-to-end, full-stack solutions encompassing hardware, software, networking, and storage. Unlike competitors that sell individual chips at the retail level, Huawei will adopt a “cluster-based sales” model in South Korea, delivering services in cluster units that integrate computing nodes, storage, and networking to ensure optimal performance delivery and accelerate industrial applications. Huawei Korea has already begun discussions with potential local customers regarding supply agreements.
In addition, Huawei plans to supply South Korean enterprises with its self-developed HarmonyOS (鸿蒙操作系统) next year to help build smart home and intelligent device ecosystems. Despite its active expansion in computing and operating systems, Huawei has clarified that it currently has no plans to launch smartphones in the South Korean market in 2026.
2. J&T Express Partners with Thailand’s Department of Agricultural Extension to Build a Farm-to-Consumer Logistics Ecosystem
[Event] Recently, J&T Express (极兔速递) Thailand and Thailand’s Department of Agricultural Extension (DOAE) officially signed a memorandum of understanding to jointly develop an end-to-end agricultural logistics ecosystem covering production, packaging, warehousing, and delivery. The partnership aims to reduce transportation costs through systematic supply chain management while ensuring the safety and freshness of agricultural products throughout the delivery process, helping Thai farmers deliver high-quality produce directly to consumers.
Under the agreement, J&T Express will leverage its nationwide service network in Thailand to offer dedicated logistics incentives to farmers. Registered farmers across the country can enjoy a 10% discount on shipping fees at J&T service points upon presenting official registration credentials, while VIP customers will receive additional benefits. The two parties will also conduct professional packaging training and establish comprehensive safeguard mechanisms, with a focus on optimizing the “farm-to-table” logistics chain for fresh fruits and vegetables. By empowering agriculture through logistics, the initiative aims to increase local farmers’ incomes and promote the sustainable development of Thailand’s agricultural sector.
3. Changan DEEPAL’s Thailand Plant Ships First Batch of Vehicles to Europe
[Event] Recently, Changan DEEPAL (长安深蓝) announced that its plant in Rayong, Thailand, has successfully completed the export of its first batch of 500 fully assembled vehicles to the European market. The exported model includes the DEEPAL S05, marking Changan Automobile (长安汽车)’s official launch of its strategic expansion into Europe.
Changan Automobile’s Rayong plant officially commenced operations on May 16, 2025. As the company’s first overseas new-energy vehicle manufacturing base, the facility adopts an intelligent production system with a Phase I annual capacity of 100,000 units. With the shipment of the first batch of vehicles, Changan’s globalization strategy has formally entered its 2.0 phase. At its European brand launch event in March, Changan confirmed that its three brands—CHANGAN, DEEPAL, and AVATR—would jointly enter the European market.
According to its plan, Changan Automobile will enter more than 10 European regional markets by the end of 2025 and intends to launch over eight SUV models in Europe within the next three years. The company has already established wholly owned subsidiaries in Germany and the United Kingdom and has signed dealership agreements across multiple European countries. The export of the DEEPAL S05 represents a key milestone in Changan’s “In Europe, For Europe” localization strategy and its efforts to build a global sales network.
4. Yu Jian Xiao Mian Lists in Hong Kong as Singapore Flagship Store Opens, Marking Overseas Expansion
[Event] On December 29, Yu Jian Xiao Mian (遇见小面)—formally Guangzhou Yu Jian Xiao Mian Catering Co., Ltd.—opened its 500th global store and first overseas outlet at 313@Somerset on Orchard Road in Singapore. This move follows the company’s successful listing on the Main Board of the Hong Kong Stock Exchange on December 5 and represents a key step in its international expansion. Additional outlets, including a Tampines Mall store in Singapore, are currently under preparation.
In response to high labor costs and supply chain challenges in overseas markets, Yu Jian Xiao Mian has adopted a “digitalization + systematization” go-global strategy. The company has deployed its self-developed, end-to-end digital empowerment system overseas, enabling full-chain coverage from digital ordering and intelligent scheduling to data visualization management. On the supply chain side, the brand partners with large-scale suppliers to reduce cross-border logistics costs and address local sourcing challenges, ensuring operational efficiency overseas comparable to its domestic operations.
In terms of product strategy, Yu Jian Xiao Mian positions “noodles + mala” as a globally resonant culinary language. While preserving the essence of Sichuan–Chongqing flavors, the brand has incorporated localized offerings—such as coffee-inspired beverages and fish cakes—for the Singapore market. Using Singapore as a springboard, Yu Jian Xiao Mian aims to build a scalable international operating model and plans to further expand across Southeast Asia and global markets, with the goal of elevating Chongqing-style noodles into a mainstream global noodle category.
5. FAW Takes Equity Stake in Leapmotor, Acquiring 5% for RMB 3.74 Billion
[Event] On December 29, Leapmotor (零跑汽车) announced on the Hong Kong Stock Exchange that it had entered into a domestic shares subscription agreement with FAW Group (一汽). Leapmotor will issue approximately 74.83 million domestic shares to FAW at a subscription price of RMB 50.03 per share, raising total proceeds of approximately RMB 3.744 billion.
According to the announcement, the proceeds will be allocated as follows: approximately RMB 1.872 billion (50%) for research and development; RMB 936 million (25%) for working capital and general corporate purposes; and the remaining RMB 936 million (25%) for expanding the sales and service network and enhancing brand awareness.
In response to the investment, Leapmotor founder Zhu Jiangming and Vice President Li Tengfei stated that the agreement includes explicit provisions regarding shareholding ratios to ensure that control by the actual controlling management team remains unchanged. The entry of a major shareholder is expected to strengthen the company’s stability and strategic coordination, providing support for future product and technology collaboration.
6. Leapmotor Unveils Ten-Year Strategy: Targeting One Million Annual Sales by 2026 and Accelerating Global Localization
[Event] On January 1, Leapmotor founder and CEO Zhu Jiangming announced that the company aims to achieve annual sales of 1 million vehicles by 2026 and aspires to reach global annual sales of 4 million vehicles within the next decade. To support its globalization efforts, Leapmotor will further deepen its partnership with the Stellantis Group, accelerating its transformation from a “Chinese NEV startup” into a “world-class automaker.”
Regarding global production localization, Leapmotor has set out a clear timeline. The company plans to launch its first localized assembly (KD) project in Malaysia in the first half of 2026, leveraging the country’s strategic position to enter the ASEAN market. In addition, Leapmotor’s European production base in Spain is scheduled to commence operations in the third quarter of 2026, with the B10 as the first model to be produced. In accordance with local regulations, vehicles produced at the facility will achieve 40% localization of components to enhance competitiveness and regulatory compliance in the European market.
Currently, Leapmotor has entered 35 countries and regions worldwide, with more than 800 overseas sales outlets. In 2025, Leapmotor’s overseas sales exceeded 60,000 units, ranking among the leading exporters among China’s new electric vehicle brands. Zhu Jiangming stated that by combining cost advantages derived from full-stack in-house R&D with a globally localized production footprint, Leapmotor will make 2026 its “one-million-unit breakthrough year,” further expanding its share in mainstream global electric vehicle markets.
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