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.
Weekly Overview (22/03-28/03)
1.XPeng Motors (小鹏汽车) achieved a single-quarter profit of 380 million CNY for the first time, with its 2025 overseas sales nearly doubling.
2.OnePlus (一加) may scale back its overseas operations, with the Indian market shifting focus toward the low-to-mid-range segment.
3.TCL Chairman Li Dongsheng (李东生) stated that Chinese enterprises have entered "Globalization Phase 3.0," shifting focus from pursuing GDP growth to emphasizing GNP growth.
4.SHEIN (希音) is accelerating its expansion in the German market, with over 600 local retailers already joined the platform.
5.Leapmotor (零跑汽车) opened its European Innovation Center in Munich, Germany, marking the brand's first overseas R&D hub.
6.Unitree Robotics' (宇树科技) IPO application for the STAR Market has been accepted as it strives to become the "first humanoid robot stock" on the A-share market.
7.Chinese automakers' global sales topped the charts for the first time in over 20 years, surpassing Japanese manufacturers.
8.Alibaba International (阿里国际) launched Accio Work, the first enterprise-level AI Agent for overseas markets.
9.Mixue Group (蜜雪集团) released its 2025 annual report, recording revenue of 33.56 billion CNY and reaching 60,000 stores globally.
10.Meitu (美图) AI Skills have been integrated into the OpenClaw "Lobster" ecosystem.
11.Creality (创想三维) filed again for an IPO on the Hong Kong Stock Exchange, aiming to become the first 3D printing stock in Hong Kong.
12.Tencent (腾讯) introduced a free security health check for cloud-based AI assets on OpenClaw.
13.Honor (荣耀) is expanding into the Central Asian market to strengthen its high-end brand strategy.
14.Pop Mart (泡泡玛特) reported 2025 revenue of 37.12 billion CNY, with triple-digit growth across four major global regions; the 2026 focus will be on the Middle East, Southeast Asia, Europe, and South America.
15.BYD (比亚迪) aims to capture the Canadian market: currently selecting sites in Toronto with plans to open 20 stores in its first year.
16.YTO Express (圆通速递) launched local delivery services in Perth, Australia.
17.MINISO (名创优品) launched its first "MINISO & Friends" themed store in Malaysia, initiating a new era of IP-led retail experiences.
Selected Developments
1. SHEIN Accelerates German Market Expansion with Over 600 Local Retailers
[Event] Recently, SHEIN has been aggressively pushing its open platform business in Europe, successfully attracting more than 600 local German retailers. Initial brands include accessories provider Leogra Trading, lighting giant Lampenwelt, and mid-range home furnishing brand Floordirekt. To optimize onboarding, SHEIN partnered with German SaaS provider SimpleSell to automate connections between store systems and local logistics providers. This model compensates for SHEIN’s previous gaps in large home furnishings and construction materials while leveraging local brand credibility to boost European consumer trust.
According to the latest EU transparency report, Germany has become SHEIN’s largest revenue source in Europe and its second-largest market globally, trailing only the United States. Despite ranking fourth in EU monthly active users (22.2 million), Germany’s strong purchasing power gives it high strategic priority. Since launching merchant self-operation and semi-managed models in 2024, SHEIN is transforming from a pure cross-border e-commerce player into a localized comprehensive platform to compete with rivals like Amazon.
2. Leapmotor (零跑汽车) Opens European Innovation Center in Munich
[Event] Recently, the Leapmotor European Innovation Center officially opened in the Schwabing-Freimann district of northern Munich, Germany. As Leapmotor's first overseas innovation center, it marks a strategic shift from product export to high-level design globalization. With this facility, Leapmotor has established a global design network spanning Munich, Hangzhou, and Shanghai, aiming to absorb international design concepts and enhance the global aesthetic appeal and technical beauty of its products.
At the opening event, Leapmotor highlighted its global strategic model, the A10 (overseas name B03X). Built on "Tech-Natural Aesthetics 2.0" and carrying the family design DNA, the model is planned for sale in nearly 40 countries and regions, including Europe and Southeast Asia. This move is intended to bring the brand closer to global consumer needs and foster direct dialogue with world-class design forces in Munich, a global hub for automotive innovation.
3.Unitree Robotics (宇树科技) Files for STAR Market IPO, Aiming to be the First Humanoid Robot Stock
[Event] Recently, the Shanghai Stock Exchange officially accepted the STAR Market IPO application for Unitree Robotics. The Hangzhou-based leader in embodied intelligence plans to issue no less than 10% of its shares to raise approximately CNY 4.202 billion. Based on this ratio, Unitree’s initial issuance market value reaches CNY 42 billion, far exceeding its CNY 12.7 billion valuation during its Series C round in June 2025.
The prospectus reveals explosive growth in 2025, with annual revenue reaching CNY 1.708 billion (+335.36% YoY) and non-GAAP net profit hitting CNY 600 million (+674.29% YoY). The company has turned profitable, becoming one of the few robotics firms globally to achieve large-scale profitability. In 2025, its pure humanoid robot shipments exceeded 5,500 units—ranking first globally—and humanoid robot revenue officially surpassed quadruped robots as the primary growth driver.
Unitree (宇树科技) plans to allocate CNY 2.022 billion to intelligent robot model R&D and CNY 1.11 billion to robot hardware R&D. Additionally, CNY 624 million will fund an intelligent manufacturing base capable of producing 75,000 humanoid and 115,000 quadruped robots annually. Founder Wang Xingxing controls approximately 68.78% of the voting rights. At the 2026 Yabuli Forum, Wang predicted that by mid-2026, Chinese humanoid robots would surpass Usain Bolt in absolute sprinting speed (under 10 seconds for 100m), though he emphasized that a true "GPT moment" for embodied intelligence is still 2–3 years away.
4.Alibaba International (阿里国际) Launches First Overseas Enterprise AI Agent: Accio Work
[Event] Recently, Alibaba International launched Accio Work, its first enterprise-level AI Agent for overseas markets. Marketed as an "autonomous business operator," it marks the entry of cross-border e-commerce into the era of Long-horizon Autonomy.
Unlike the popular general-purpose agent "OpenClaw" (known as "Lobster" in developer circles), Accio Work is tailored for professional e-commerce operations. It offers "out-of-the-box" usability without complex deployment. Overseas users report that by providing a simple creative idea, Accio Work autonomously handles market analysis, product design, store decoration, and product listing. Users have claimed to "hand-build" a live-ready online store in just 30 minutes. Post-launch, the agent can autonomously post on social media, run ads, and negotiate with Chinese suppliers to close the procurement loop. Experts believe this will significantly lower global trade barriers for SMEs and further amplify demand for Chinese supply chains.
5. Pop Mart (泡泡玛特) 2025 Revenue Hits CNY 37.12 Billion with Triple-Digit Global Growth
[Event] On March 25, Pop Mart International Group released its 2025 annual report, showing explosive growth. Annual revenue reached CNY 37.12 billion (+184.7% YoY), with adjusted net profit at CNY 13.08 billion (+284.5% YoY).
The LABUBU family was the core engine, generating CNY 14.16 billion in revenue for a single series. Pop Mart achieved breakthroughs across all four major regions: the Chinese market reached CNY 20.85 billion (+134.6% YoY), while overseas markets soared. The Americas was the fastest-growing region, with revenue of CNY 6.81 billion (+748.4% YoY), followed by Asia-Pacific at CNY 8.01 billion (+157.6% YoY) and Europe/others at CNY 1.45 billion (+506.3% YoY). The 2026 strategy will focus on deeper penetration into the Middle East, Southeast Asia, Europe, and South America.
6. BYD (比亚迪) Targets Canadian Market with 20 Planned Stores in First Year
[Event] On March 25, global EV giant BYD accelerated its retail network in Canada, planning to open 20 dealerships within its first year. Assisted by automotive consultancy DSMA, BYD is currently negotiating three potential sites in the Greater Toronto Area.
This expansion follows a dramatic policy shift by the Canadian government, which slashed tariffs on Chinese-made EVs from 100% to 6.1%, while setting a first-year import quota of 49,000 units to combat inflation and introduce affordable models. BYD will start in Toronto before expanding to Vancouver, Montreal, and Calgary. While specific models aren't confirmed, the Atto 3 (Yuan PLUS/元 PLUS) and Dolphin (海豚) are expected to fill the sub-CAD 35,000 price gap. Executive VP Stella Li (李柯) stated that BYD (比亚迪) is studying the possibility of building a local plant or acquiring competitors, though she rejected joint-venture models in favor of full ownership and autonomy.
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Since 2018, EqualOcean has been dedicated to tracking and analyzing the global expansion of Chinese enterprises. We welcome contributions from industry professionals to share your expertise and insights. Companies seeking international growth, media exposure, or discussions on overseas strategies are also encouraged to contact us directly.
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