Weekly Overview (02/08-08/08)
1.Chery（奇瑞）’s July Exports Top 200,000 for the First Time; Overseas Sales Near 40% at Five Chinese Automakers
2.TikTok Shop’s Global GMV Reaches USD 50.3 Billion in H1, Up 92% Year on Year
3.CPE（源峰）Plans Full Acquisition of Swiss Premium Outdoor Brand Mammut（猛犸象）
4.Bain Capital（贝恩资本）Announces Acquisition of Tea Chain Gong cha（贡茶）, with Nearly 2,200 Stores Worldwide
5.Alibaba Cloud（阿里云）Teams Up with Xiamen Jihong（吉宏股份）to Deploy Qwen 3.8 and Build a Global AI Model Distribution Network
6.WeRide（文远知行）Plans Denmark’s First Commercial Autonomous Shared-Mobility Project
7.Chery（奇瑞）to Invest USD 75 Million in South Korea’s KG Mobility（原双龙汽车）for Robotics and Semiconductor Cooperation
8.Ningbo Ocean Shipping（宁波远洋）Launches Its First European Ro-Ro Route, Carrying 5,500 Vehicles on Its Maiden Voyage
9.Cainiao（菜鸟）Opens London Gateway Warehouse, Enabling Cross-Border Parcel Delivery in as Little as 24 Hours
10.Insta360（影石）to Open Its First Directly Operated Flagship Store in Tokyo
11.Goldwind（金风科技）Signs 89.7 MW Wind Power Project in Thailand
12.Trina Solar（天合光能）Ships Over 5 GWh of Energy Storage Systems Overseas, Up 188% Year on Year
13DeepSeek（深度求索）Restarts Second Funding Round, Seeking CNY 50 Billion
14.Leapmotor（零跑汽车）Officially Enters Indonesia and Begins Local KD Assembly
Selected Developed
1. Trina Solar’s Overseas Energy Storage Shipments Exceed 5 GWh, Up 188% Year on Year
[Event] Trina Solar（天合光能）shipped more than 5 GWh of energy storage systems in the first half of the year, representing year-on-year growth of 188%. New orders signed since the beginning of the year exceeded 16 GWh, with overseas markets accounting for more than 95%. As solar module prices remain under pressure, energy storage is emerging as a new source of growth for the company.
The key change is not merely the increase in shipment volume, but the clear shift in the business toward overseas markets. Compared with solar modules, energy storage is more project-oriented, with contracts typically covering system integration, solution design, delivery, commissioning and long-term maintenance. These projects also tend to involve longer service cycles and stronger customer retention. The rising share of overseas orders suggests that Trina Solar is extending its existing photovoltaic sales channels and customer relationships into energy storage.
The overseas expansion model of Chinese energy storage companies is also evolving. Early competition centered largely on battery-cell costs and equipment prices. Overseas customers now place greater emphasis on system safety, bankability, grid-integration capabilities and full-lifecycle services. Establishing local certification, delivery and maintenance teams is therefore becoming essential to securing large projects.
For Trina Solar, its order backlog of more than 16 GWh provides a foundation for future shipments. However, these orders must still pass through production, delivery and acceptance before they can be recognized as revenue. The next question is whether overseas orders can be fulfilled on schedule and whether the energy storage business can improve profitability while expanding, ultimately becoming a second growth engine capable of offsetting volatility in the solar manufacturing cycle.
2. Leapmotor Enters Indonesia and Begins Local KD Assembly
[Event] Leapmotor（零跑汽车）showcased its B10 and C10 battery-electric SUVs at the Indonesia International Auto Show and announced plans to pursue local assembly in partnership with Indomobil Group. Indomobil will oversee local sales, after-sales support and customer services, while the two models will be assembled at the PT National Assemblers plant.
The launch extends Leapmotor’s strategy of entering overseas markets through partnerships. Leapmotor supplies the vehicles and core technologies, Stellantis（斯泰兰蒂斯）coordinates international operations, and Indomobil contributes local manufacturing, distribution and service resources. Compared with exporting fully built vehicles, this approach can shorten the market-entry process while reducing the initial investment required to establish independent factories and dealership networks.
Indonesia is one of Southeast Asia’s largest automotive markets and has become a priority destination for Chinese new-energy vehicle manufacturers. As BYD（比亚迪）, SAIC Motor（上汽集团）and Chery（奇瑞）advance local manufacturing or assembly plans, competition is expanding beyond vehicle launches to encompass pricing, distribution, after-sales support and supply chains. Local production could help Leapmotor respond to Indonesia’s industrial policies and create room to introduce additional models.
Entering the market and beginning assembly are only the first steps. Leapmotor’s ability to build local brand recognition will depend on production ramp-up, dealership coverage and service quality. Stellantis plans to establish 52 multi-brand sales outlets by the end of 2026. Whether these channels generate stable orders will determine whether Leapmotor can move from entering Indonesia to establishing a lasting presence in the country.
3. CPE Plans Full Acquisition of Swiss Outdoor Brand Mammut
[Event] Chinese investment firm CPE（源峰）has signed an agreement with Mammut（猛犸象）shareholder Jacobs Capital to acquire the Swiss outdoor brand, which was founded in 1862. The transaction value has not been disclosed, and the deal is expected to close within the next few months. Mammut’s headquarters and core design and research functions will remain in Switzerland, while its existing management team is expected to stay in place.
The proposed transaction illustrates another route through which Chinese capital can participate in the global consumer market. Unlike homegrown brands that begin their overseas expansion through product exports and distribution development, acquiring an established foreign brand provides immediate access to existing brand recognition, specialist consumers and an international retail network. This can significantly shorten the time required to enter premium consumer markets.
Mammut has a strong professional identity in mountaineering, climbing and skiing equipment, with its brand value rooted in decades of product development and European outdoor culture. Retaining its Swiss headquarters, research team and current management could reduce the impact of the ownership change on its market positioning. CPE, meanwhile, could contribute capital, distribution resources and access to Asian markets to support Mammut’s next phase of growth.
If the acquisition is completed, the central challenge will shift from purchasing the asset to managing the brand. The outcome will depend on whether CPE can expand Mammut’s Asian business without weakening its specialist positioning, while coordinating European research, global supply chains and Chinese distribution resources. For Chinese investors, overseas acquisitions are increasingly judged not only by whether they can buy global assets, but also by whether they can operate them successfully over the long term.
4. WeRide Plans Denmark’s First Commercial Autonomous Shared-Mobility Project
[Event] WeRide（文远知行）has partnered with Danish electric car-sharing operator GreenMobility to launch a public-facing Level 4 Robotaxi service in the first half of 2027, subject to regulatory approval. If implemented as planned, the project would become Denmark’s first commercial autonomous shared-mobility service.
GreenMobility currently operates more than 1,500 shared electric vehicles in Denmark and already has an established user base, fleet-management capabilities and local operating infrastructure. WeRide will provide the autonomous vehicles and driving technology. The partnership combines a technology supplier with a local mobility operator, allowing WeRide to avoid building a ride-hailing platform from scratch while relying on its partner to support regulatory engagement and daily operations.
Providing public passenger services involves significantly higher requirements for safety standards, operating permits and liability arrangements than conducting road tests alone. Europe also has a relatively complex regulatory environment. Even Chinese autonomous-driving companies with mature technologies must adapt their systems to local road conditions, data rules and traffic regulations.
The Danish project still requires regulatory approval. Important subsequent milestones will include road testing, the deployment of the first vehicles, the definition of service areas and the introduction of a pricing model. Whether the partnership can progress from an announced plan to stable commercial operations will test WeRide’s local delivery capabilities in Europe. Its development could also determine whether Chinese autonomous-driving companies can replicate this partnership model with mobility platforms in other overseas markets.
5. DeepSeek Restarts Second Funding Round, Seeking CNY 50 Billion
[Event] DeepSeek（深度求索）has reportedly restarted its second funding round, seeking CNY 50 billion at a pre-money valuation of approximately CNY 500 billion. The transaction is expected to be signed in late August. Meanwhile, DeepSeek V4-Flash has entered the upper ranks of OpenRouter’s global model-usage leaderboard as adoption among overseas developers continues to expand.
For large-model companies, access to capital directly affects computing resources, model development and the ability to provide services globally. As model sizes, training datasets and user demand continue to grow, investment requirements have expanded beyond one-off training costs to include inference capacity, data centers, developer support, security and regulatory compliance. A new funding round would provide DeepSeek with additional resources to sustain technological development and overseas expansion.
DeepSeek’s internationalization strategy differs from that of traditional software companies. It initially entered overseas markets through open models, competitively priced inference services and developer platforms before moving toward enterprise deployments and commercial services. Its position on global usage rankings indicates that it has built a meaningful developer base. However, converting usage into recurring revenue will depend on the development of its API business, enterprise customer base, local deployment services and ecosystem partnerships.
If the financing is completed, DeepSeek’s next priority will be to move beyond expanding model influence and establish a sustainable global commercial system. Its long-term position will depend on whether it can maintain competitive pricing while covering substantial computing costs, and whether it can provide overseas enterprises with reliable services, technical support and compliance solutions.
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