OEM Movements
On Feb. 10, Wuling announced that sales of its new MPV, the Starlight 730, have surpassed 26,000 units just 80 days after launch. The Starlight 730 officially hit the market on Nov. 12, 2025, offering four powertrain options that span internal combustion, plug-in hybrid, and pure electric variants.
Xiaomi founder, chairman, and CEO Lei Jun took to Weibo on Feb. 10 to address recent sightings of a Xiaomi YU7 testing on California highways with local license plates. "We currently have no plans to enter the U.S. market," Lei Jun stated. "My guess is that this YU7 was purchased by American peers or suppliers for benchmarking purposes."
BAIC's Arcfox has officially unveiled a new premium product line named "Wendao." The series will debut with an MPV model, designated as the Wendao V9.
Geely has made another significant move in the power battery sector with the official establishment of Baoji Shanju Battery Co., Ltd., a wholly-owned subsidiary of Zhejiang Geely Automotive Parts Industry Co., Ltd. The new entity, registered with a capital of 50 million yuan, is led by Ren Xiangfei. He is the executive vice president of the Geely Auto Research Institute and a central figure in the company's battery strategy. Ren, who has long spearheaded R&D in battery technology, also heads similar Shanju battery units in Guiyang, Xiangtan, Zhejiang, and Chengdu.
Reports suggest Li Auto is set to roll out a "store partner" program following the 2026 Lunar New Year holiday, aiming to boost operational efficiency and market responsiveness. The company has confirmed the initiative. Under the new scheme, store managers will be granted greater decision-making authority. Performance metrics will shift from a pure sales focus to a comprehensive system covering sales volume, profitability, and customer satisfaction. Additionally, Li Auto plans to shutter underperforming locations opened during its rapid expansion phase, though the specific closures are still under review.
Guangzhou XPeng Automotive Technology Co., Ltd. has published a patent application for a "humanoid robot control method, device, and humanoid robot." The abstract details a system that captures an operator's upper-body posture data—encompassing pitch, roll, and yaw angles—to generate target posture data for the robot. By comparing this with the robot's current posture, the system executes control commands. This creates a closed-loop of "collection—processing—feedback—control." It dynamically corrects posture deviations to ensure the robot precisely replicates the operator's intent while maintaining movement smoothness and operational stability.
Hyundai Motor Group is looking to supply 50,000 IONIQ 5 autonomous vehicles to Waymo, Google's self-driving unit, by 2028, according to sources familiar with the matter. Priced at roughly $50,000 per vehicle, the deal could be valued at approximately $2.5 billion.
Supply Chain News
Axera officially listed on the Hong Kong Stock Exchange on Feb. 10, marking the debut of the first edge-computing AI chip company on the bourse. The company offered 105 million shares at an issuance price of 28.2 Hong Kong dollars, raising approximately 2.9 billion Hong Kong dollars. Cornerstone investors included Will Semiconductor Hong Kong Limited, New Ma Clothing International Limited, JSC International Investment Fund SPC, and NGS Super.
onsemi released its fourth-quarter and full-year 2025 financial results on Feb. 10, reporting that quarterly performance met expectations while the annual free cash flow margin hit a record high of 24%. For the fourth quarter of 2025, onsemi recorded revenue of $1.53 billion. GAAP and non-GAAP gross margins stood at 36% and 38.2%, respectively, while operating margins reached 13.1% (GAAP) and 19.8% (non-GAAP). Diluted earnings per share came in at $0.45 on a GAAP basis and $0.64 on a non-GAAP basis.
Minieye has announced it has secured a new designation from a leading domestic automaker. The company will supply its iPilot 4 Plus assisted driving domain controller. It will also provide Driver Monitoring System (DMS) and Occupancy Monitoring System (OMS) products for the smart cockpit. These solutions will be integrated into multiple flagship models for both domestic and international markets, with mass production scheduled to begin in the second half of 2026.
Cybrid has completed the full acquisition of Suzhou Jinlan Nano Technology Co., Ltd. The move marks Saiwu's expansion into the automotive OEM and aftermarket sectors, as well as the field of polymer functional materials for end consumers.
The Bincheng District Government of Binzhou, Shandong, has signed an agreement with Shanghai Kepler Robotics Co., Ltd. to jointly build the Kepler (Binzhou) robotics manufacturing project. The initiative will proceed in two phases. The first phase involves establishing a provincial embodied intelligence data collection and training center based on the operational deployment of 100 Kepler special robots. This creates a core data foundation for algorithm iteration and engineering applications. The second phase will focus on constructing a headquarters for special robots and an industry-academia integration base. It targets sectors such as wind power operations and maintenance (O&M) and industrial inspection to accelerate the commercialization of technology.
Industrial Economy Focus
Hong Kong's automotive sector showed strong activity on Feb. 10, with shares of several major automakers rising. BYD Company led the gains with an increase of roughly 4%. Chery Automobile rose more than 2%, while Leapmotor, NIO, and Geely Auto all climbed over 1%. XPeng, Great Wall Motor, and Seres also posted gains of varying magnitudes.
ACE Robotics announced the completion of an angel financing round led by Ant Group. The round saw participation from Qiming Venture Partners, Golden Vision Capital, Hony Capital, Lenovo Capital, and the SJTU Mother Fund, while existing shareholder Sensetime Guoxiang Capital increased its holdings. The capital will primarily drive the technical iteration of the company's "human-centric" ACE embodied full-stack R&D paradigm. It will accelerate the development of the environmental data collection system and Kaiwu World Model 3.0. It will also promote the large-scale deployment of its embodied super brain modules. Commercial expansion will focus on energy, transportation, and cultural tourism sectors.
Noematrix has secured hundreds of millions of yuan in an Series A funding round led by C Capital. The round saw participation from Sea Limited and Puhua Capital, among others, while existing shareholder Prosperity7 Ventures increased its investment with an oversubscription. Noematrix stated that the proceeds will be used to accelerate the R&D iteration of its embodied intelligence brain, drive commercial deployment across multiple scenarios, and deepen international collaboration with industry partners.
