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 (12/04-18/04)
1. Chery (奇瑞) Opens First European Operations Center and Launches Spain R&D Institute
2. Mixue Ice Cream & Tea (蜜雪冰城) Opens First Store in Brazil; Second Location Under Development
3. Rednote (小红书) to Launch Cross-Border E-commerce Business "Redshop" in June
4. Geely Auto Group (吉利汽车集团) Raises 2026 Full-Year Export Target to 750,000 Units
5. Dreame (追觅) Invited to AliExpress Brand Globalization Summit with Signed Partnership Plans
6. GAC's (广汽集团) Global Strategic Model AION UT Launches in Australia
7. BYD (比亚迪) Rejects Price War in South Africa, Deepening Local Brand Value through Differentiation
8. Geely (吉利) Reports Q1 Sales of 937,900 Units, Advancing HEV Mass Production and Exports
9. Changan Automobile (长安汽车) Releases 2025 Annual Report: Revenue Hits 164 Billion CNY, Overseas Sales Up 18.9%
10. Alibaba (阿里巴巴) Enters Pakistani Financial Market with Buy Now, Pay Later Service
11. Dreame (追觅科技) Showcases AI Vision Robot Brand NAVO at Canton Fair
12. China's Q1 Domestic Auto Sales Fall 20% While Exports Surge 50% to Offset Market Decline
Selected Developments
1. Mixue Ice Cream & Tea (蜜雪冰城) Opens First Store in Brazil; Second Location Under Development
[Event] Recently, the Chinese freshly made beverage brand Mixue Ice Cream & Tea (蜜雪冰城) officially opened its first Brazilian store at Shopping Cidade São Paulo on Paulista Avenue in the heart of São Paulo. On opening day, the brand's mascot, "Snow King," wore a No. 10 Brazilian national football team jersey to interact with local consumers at the third-floor food court, attracting large crowds.
In terms of pricing, Mixue (蜜雪冰城) has maintained its signature high-quality, low-price strategy. The menu features approximately 20 products, with fresh ice cream priced at 3 BRL (approx. 4 CNY) and fresh lemonade at 6 BRL (approx. 7.8 CNY). To cater to local tastes, the store introduced a limited-edition "Açaí Ice Cream" and specially offers a high-sugar option with sweetness levels up to 200%.
Brazil marks Mixue's (蜜雪冰城) third market in the Americas, following the United States and Mexico, and its first stop in South America. A second store is already in active planning. Previously, Mixue (蜜雪冰城) signed a memorandum of understanding with the Brazilian government to procure at least 4 billion CNY worth of coffee beans, fruits, and other agricultural products over the next 3 to 5 years while gradually establishing a localized supply chain. To date, Mixue's (蜜雪冰城) overseas footprint covers 15 countries, including the US, Australia, Vietnam, and Indonesia.
2. BYD (比亚迪) South Africa Avoids Price War, Focusing on Long-Term Brand Value via Differentiation
[Event] Recently, Steve Chang, Managing Director of BYD South Africa, stated at the ATTO 8 launch in Johannesburg that BYD (比亚迪) will firmly avoid frequent price cuts to gain market share despite intensifying competition. While many new Chinese NEV brands are entering the South African market relying on deep launch discounts, BYD (比亚迪) has chosen a more patient brand-building path.
According to the latest official sales report for March 2026 from the National Association of Automobile Manufacturers of South Africa (Naamsa), BYD (比亚迪) sold 589 units during the month. This performance closely followed Mercedes-Benz and Stellantis, surpassing established luxury brands like Volvo. Chang noted that BYD (比亚迪) is not currently chasing sales volume but aims to stabilize brand equity and residual values through its "price parity" strategy, offering electric and plug-in hybrid models at prices comparable to equivalent internal combustion engine vehicles.
The South African NEV market grew by 7.1% in 2025, reaching a total of 16,716 units, with plug-in hybrids (PHEVs) showing strong momentum. The newly launched ATTO 8 Premium (a seven-seater PHEV SUV) is priced from approximately 1.06 million ZAR (approx. 403,000 CNY), while the Performance AWD version starts at 1.26 million ZAR. Chang emphasized that excessive discounting harms early adopters, and the company will focus on consumer education to foster a deeper understanding of BYD’s (比亚迪) brand value and technology.
3. GAC AION UT Officially Launches in Australia; Pre-sale Starts at 31,990 AUD
[Event] Recently, GAC Group (广汽集团) participated in the 2026 Melbourne International Motor Show with its GAC and AION (广汽埃安) brands, officially releasing its global strategic model, the AION UT. As the primary product for GAC's (广汽集团) entry into the Australian pure electric market, the AION UT Premium is priced from 31,990 AUD (approx. 148,000 CNY), while the Luxury version is 35,990 AUD. For early adopters, GAC (广汽集团) offered a limited "Early Bird" promotion for 600 units, priced at just 30,990 AUD drive-away.
The AION UT is a compact pure electric SUV with a 2,750 mm wheelbase, emphasizing spaciousness and a smart cockpit experience. It features a 60 kWh LFP battery pack with a WLTP range of up to 430 km and supports 87 kW DC fast charging (30% to 80% in 24 minutes). To meet local preferences, GAC’s (广汽集团) R&D team completed specific chassis tuning and right-hand drive (RHD) layout optimization for the Australian market.
In addition to the AION UT, GAC (广汽集团) showcased the GAC Motor EMZOOM, M8 PHEV, and the AION V. The General Manager of GAC International stated that Australia is a core territory for its "One GAC 2.0" strategy. The company plans to build a nationwide sales network and aims to rank among the top ten brands in local sales within five years.
4. Geely (吉利) Q1 Sales Hit 937,900 Units; HEV Mass Production and Exports Move Forward Together
[Event] Recently, Geely Holding Group (吉利控股集团) released its production and sales report for Q1 2026. Total sales across all brands reached 937,900 units, a record high for the period. NEV sales reached 491,000 units, up 5.8% year-on-year, with a penetration rate exceeding 50% for the first time at 52.4%. Despite a general domestic market downturn due to the withdrawal of purchase tax incentives, Geely (吉利) achieved contrarian growth by focusing on the mid-to-high-end market.
In terms of brand performance, the Geely Galaxy series sold 238,800 units, while ZEEKR (极氪) delivered 77,000 units, up 86% year-on-year. While domestic low-end A00-segment EV sales plummeted, Geely's (吉利) B-segment and above models achieved 8.1% year-on-year growth. Meanwhile, the Geely Star series sold 311,800 units, stabilizing its internal combustion engine base.
Overseas markets have become a core growth engine. Q1 export sales for Geely’s (吉利) self-owned brands reached 203,000 units, a surge of 126%. Consequently, Geely (吉利) raised its 2026 full-year export target from 640,000 to 750,000 units. To strengthen its hybrid competitiveness, pre-sales for the Galaxy Starship 7 EM-i (银河星舰7 EM-i) began on April 16, starting at approximately 15,600 USD (112,800 CNY), featuring the new i-HEV technology with a tested fuel consumption of 2.22L/100km.
5. China's Q1 Domestic Auto Sales Fall 20% While Exports Surge 50% to Offset Market Decline
[Event] Recently, the China Association of Automobile Manufacturers (CAAM) released production and sales data for Q1 2026, revealing a sharp contrast between the domestic and overseas markets. Domestic sales fell 20.3% year-on-year to 4.823 million units. In contrast, exports surged 56.7% to 2.226 million units. Chen Shihua, Deputy Secretary-General of CAAM, noted that the domestic market has seen five consecutive months of decline due to policy withdrawal and weak internal demand.
In the NEV sector, export growth is the industry's primary driver. March NEV sales reached 1.252 million units; while domestic sales fell 18.3%, NEV exports reached 371,000 units, up 130%. Cumulative Q1 NEV exports totaled 954,000 units, more than doubling year-on-year. Cui Dongshu, Secretary-General of the CPCA, stated that plug-in hybrids and NEV pickups have become new growth points as Chinese automakers accelerate penetration into the Middle East, Western Europe, and developed Asian nations.
The domestic decline is attributed to front-loaded demand in 2024-2025 and the reduction of NEV purchase tax exemptions. However, energy uncertainty caused by Middle East tensions has prompted countries like Australia to accelerate the transition to electric mobility, creating a strategic window. BYD (比亚迪) Chairman Wang Chuanfu revealed that factories in Hungary and Indonesia will start production in April 2026. Currently, overseas sales account for over 60% of Chery's (奇瑞) volume, while the share for Great Wall (长城汽车) and BYD (比亚迪) is nearly 50%. UBS predicts overseas sales for Chinese automakers will grow by over 25% this year, offsetting domestic volatility.
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