YMTC, one of China's leading semiconductor firms, has secured a new funding round with a CNY1.6 billion (approx. US$220 million) capital injection from Quanhong Investment, a subsidiary of Hebei Yangyuan ZhiHui Beverage. Once the deal closes, Quanhong will hold a 0.99% stake in YMTC's parent company. Yicai reports the move aligns with Yangyuan's strategic push into equity investments
Xiaomi has unveiled its first large language model (LLM) focused on reasoning tasks—MiMo-7B—which has outperformed significantly larger models from global tech giants. Despite its relatively compact 7-billion-parameter design, MiMo-7B surpassed OpenAI's closed-source o1-mini and Alibaba's 32B-parameter open-source Qwen-32B-Preview in math reasoning (AIME 24–25) and code generation (LiveCodeBench v5) benchmarks
As the adoption of electric vehicles (EVs) continues to rise across China, long-distance charging remains a key concern for many drivers. In response, Chinese authorities are ramping up efforts to expand high-powered charging infrastructure nationwide, aiming to usher in a new era where EVs can charge as quickly and conveniently as refueling gasoline cars—a goal the government has dubbed—charge and go, driving at the speed of gas
In the lead-up to China's Labor Day Golden Week, the country's AI sector is experiencing a flurry of large language model (LLM) upgrades. Baidu and Alibaba have rolled out new flagship models, while DeepSeek is reportedly preparing to launch its R2 update, intensifying competition in an already crowded domestic LLM market
