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.
news
1.Great Wall Motor（长城汽车）Signs Bulgarian Vehicle Assembly Agreement, Plans 50,000 Units of Annual Capacity at Its First European Vehicle Production Base
2.Haier（海尔）Breaks Ground on Rayong Washing Machine Plant in Thailand, with USD 150 Million First Phase and Planned Annual Capacity of 1 Million Units
3.US Finds Robotics and Industrial Machinery Imports Threaten National Security Under Section 232, Launches 180-Day Negotiation Process
4.SAIC Motor（上汽集团）Overseas Sales Rise 52.4% to 1.166 Million Vehicles in First Nine Months, Exceeding Full-Year 2025
5.Zhongji Innolight（中际旭创）Q3 Net Profit Rises 173.74%; Overseas Revenue Accounts for 94.8% of First-Half Total
6.CATL（宁德时代）Takes EPC Role on German 1.4GWh Storage Project as Project Secures EUR 260 Million in Financing
7.Alibaba（阿里巴巴）, Tencent（腾讯）and ByteDance（字节跳动）Seek 10-Year DRAM Supply Agreements with Samsung（三星）and SK hynix（SK海力士）, Some Extending to 2035
8.Pop Mart（泡泡玛特）Q3 Revenue Falls 45%–50%, with Americas Revenue Down 70%–75%
9.General Science（通用股份）Plans USD 295 Million Egyptian Tire Plant with Annual Capacity of 800,000 All-Steel Radial Tires
10.Alibaba Cloud（阿里云）Launches Amsterdam Region, Adding 12 Overseas Availability Zones This Year
11.Adani’s（阿达尼）743MWh Storage Project in India, Built with SVOLT Energy（蜂巢能源）, Enters Operation
12.BOMESC（博迈科）Signs CNY 2.4–3 Billion FPSO Topside Module Construction Contract with SBM Offshore, Targeting Completion in April 2029
13.US Imposes Combined 265.61% Anti-Dumping and Countervailing Duties on Chinese Van Trailers for at Least Five Years
14.Yinpai Battery（因湃电池）Starts Production at Thai Plant, with First EV Battery System Rolling Off the Line
15.Keeson Technology（麒盛科技）Plans AUD 12 Million Acquisition of Australian Mattress Brand A.H. Beard
1. GWM Signs Bulgarian Assembly Agreement, Targeting Production in Q1 2027
【Event】On October 27, Great Wall Motor（长城汽车）, known as GWM, announced a manufacturing agreement with a Bulgarian partner to assemble the Ora 5 locally. Production is scheduled to begin in the first quarter of 2027, with planned annual capacity of 50,000 vehicles. The project will initially build the electric version, with other powertrains and models under consideration.
GWM will use its partner’s existing factory in Bahovitsa, starting with semi-knocked-down assembly and sourcing some components locally from the outset. Using existing facilities and local manufacturing resources can reduce part of the investment required for a new plant, while extending the partnership from sales into production.
European manufacturing needs to develop alongside model launches, supply chains and distribution networks. The Bulgarian project gives GWM a base for organizing production closer to customers. Actual costs and delivery efficiency will depend on component procurement, factory operations and local demand. Increasing local sourcing could also bring more suppliers into the partnership.
The next priorities are starting production on schedule and coordinating the ramp-up, quality control and customer deliveries. Whether planned capacity translates into sustained output will ultimately depend on European sales and factory efficiency.
2. Haier Breaks Ground on Thai Washing Machine Plant with USD 150 Million First Phase
【Event】On October 26, Haier Smart Home（海尔智家）held a groundbreaking ceremony for a washing machine plant in Rayong, Thailand. The project has planned annual capacity of 3 million units, including a first phase involving USD 150 million in planned investment and annual capacity of 1 million units. Products are intended for Europe, the Americas and the Middle East.
The factory will add another overseas manufacturing location to Haier’s network, allowing the company to organize production and supply around demand in different markets. Serving multiple regions requires coordination across product specifications, procurement, logistics and quality management. Its value lies both in additional capacity and in greater flexibility across the global supply network.
The project has entered construction, with first-phase capacity to develop through equipment installation, production trials and order allocation. Building local procurement and manufacturing teams will also influence production costs and responsiveness. Supplies to Europe, the Americas and the Middle East will require parallel arrangements for transport, certification and after-sales support.
The next milestones are construction progress, the start of volume production and capacity utilization. Whether the Thai base becomes a reliable export manufacturing hub will depend on orders, delivery efficiency and sustained operating performance.
3. US Orders Robotics Import Negotiations, with No New Tariffs Announced
【Event】On October 28, US President Donald Trump signed a proclamation following a Section 232 investigation into robotics, industrial machinery and related components, determining that the imports threaten US national security. The proclamation directs the Commerce Department and the US Trade Representative to begin or continue negotiations with trading partners and report on progress within 180 days. No new tariffs have been announced.
The proclamation focuses on US dependence on imported equipment, insufficient domestic production and potential cybersecurity risks from equipment that processes sensitive data. It discusses autonomous robots, humanoid robots, quadruped robots and autonomous ground vehicles, extending its relevance across finished equipment and component supply chains.
The action adds another policy variable for robotics companies quoting prices, accepting orders and investing in the US market. Possible subsequent measures include tariffs, quotas and fees, with details to emerge as negotiations progress. For equipment projects with long delivery periods, buyers and sellers will also need to coordinate how potential policy changes affect costs and contractual arrangements.
Negotiations over the next 180 days will be a focus for the industry. Chinese robotics companies will need to assess subsequent measures as they develop their US business, while continuing to build sales and service capabilities in other markets to strengthen the stability of overseas operations.
4. Zhongji Innolight Q3 Net Profit Rises 173.74%, with Overseas Orders Extending into 2027
【Event】On October 29, Zhongji Innolight（中际旭创）reported third-quarter net profit of CNY 8.587 billion, up 173.74% year on year. Overseas revenue reached CNY 39.615 billion in the first half, accounting for 94.8% of total revenue. The company also said overseas customer orders extended into 2027, with visibility for some products reaching into 2028.
Zhongji Innolight’s optical modules provide optical communication links for data centres and other networks. Overseas customers are an important revenue source, making their purchasing schedules and product upgrade requirements significant factors in production planning and operating performance. The company said a higher proportion of premium products helped improve gross margin.
Longer order visibility helps the company plan capacity, procurement and deliveries, while placing greater demands on technology development and supply reliability. Optical modules evolve rapidly, requiring manufacturers to fulfil existing orders while developing the next generation of products in line with customer needs.
The next priority is converting orders into deliveries and sustaining profitability through product upgrades. As overseas operations expand, customer mix, capacity investment and supply-chain stability will continue to influence the quality of growth.
5. SAIC’s Nine-Month Overseas Sales Reach 1.166 Million Vehicles, Exceeding Last Year’s Total
【Event】On October 27, SAIC Motor（上汽集团）reported overseas sales of 1.166 million vehicles for the first nine months of 2026, up 52.4% year on year and already exceeding its full-year 2025 total. MG（名爵）sold more than 280,000 vehicles in Europe during the period, up 23%. September sales in the UK reached approximately 18,000 vehicles, a monthly record for the brand.
MG is an important part of SAIC’s overseas passenger-car business. Beyond Europe, the company reported 86% growth in MG sales across 18 Central American and Caribbean markets during the first nine months. Growth across multiple regions supports SAIC’s international expansion while requiring vehicle supply and distribution management to adapt to different markets.
As sales increase, overseas operations will place greater emphasis on spare parts, maintenance training and after-sales service. A growing vehicle population creates continuing service demand, making the responsiveness of dealers and local teams directly relevant to customer experience and future purchases.
The next questions are whether sales growth can continue and whether distribution and service capabilities can expand alongside it. Greater overseas scale provides a business foundation; its long-term contribution will depend on product competitiveness, cost control and sustained customer relationships.
6. Pop Mart Q3 Revenue Falls 45%–50%, with the Americas Posting the Largest Decline
【Event】On October 27, Pop Mart（泡泡玛特）released its third-quarter 2026 business update, reporting a 45%–50% year-on-year decline in overall revenue. Revenue fell 70%–75% in the Americas, 65%–70% in Asia-Pacific, 50%–55% in Europe and other regions, and 25%–30% in China.
Substantial declines across all three overseas regions mean the company faces sales pressure in multiple markets simultaneously. After entering overseas markets, collectible-toy companies need continuing product releases, inventory management and store operations to sustain consumer purchases. Distribution provides access to customers, while sustained sales depend on product demand and local execution.
During the same day’s conference call, management said the third quarter of 2025 had been a period of rapid expansion, creating a high comparison base this year. It also described signs of stabilization in recent overseas business. The higher base adds pressure to year-on-year growth, but a sales recovery still depends on products and operations. Subsequent sales performance will show whether the recent stabilization can continue.
The next priorities are improving fourth-quarter sales, generating sustained demand for new products and aligning inventory and store investment with sales. Whether overseas operations return to stable growth will depend on subsequent business performance.
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