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JD.com has allocated over ¥1.3 billion in subsidies for frontline employees, a move that supports delivery and warehouse staff amid weak consumer demand and reputational pressure. The measure protects service capacity and signals responsibility, but it also raises questions about margin impact and whether the boost will be temporary or structural.
Tianyi Space Technology has filed for IPO guidance in Hunan as it seeks capital to build a 120‑satellite SAR constellation. The company combines in‑house manufacturing, automated operations and end‑to‑end InSAR services, but faces high upfront costs and a customer base currently dominated by government and state enterprises.
A series of confrontations on February 3 — IRGC fast boats attempting to board a US‑flagged tanker and a US shootdown of an Iranian drone near USS Abraham Lincoln — were followed by Iran’s decision to postpone naval exercises with China and Russia. Tehran frames the delay as tactical de‑escalation ahead of nuclear talks while continuing to signal deterrence through asymmetric maritime actions.
The UN Security Council condemned the January 31 terror attacks in Pakistan's Balochistan in the strongest terms after the strikes killed 48 people, including many civilians. Pakistan's military says it has killed scores of militants in retaliation, including fighters linked to the Baloch Liberation Army; independent verification of the figures remains limited.
The United States and Iran agreed to hold direct talks in Oman after Tehran demanded bilateral, nuclear-focused negotiations and shifted the venue from Turkey. Hours before the talks, a U.S. warplane shot down an Iranian drone near the USS Abraham Lincoln and U.S. forces escorted a tanker away from Iranian vessels, underscoring how fragile the diplomatic opening is and how quickly it could be ruptured by maritime incidents.
US equity markets opened mixed as investor focus on corporate guidance produced sharp moves in individual stocks. AMD plunged after lowering its Q1 revenue outlook, while Super Micro surged on an earnings beat and Novo Nordisk fell after trimming guidance, highlighting a guidance-driven, sector‑specific market landscape.
The People's Bank of China set a 2026 agenda of targeted credit support for strategic sectors — including technology, green projects, consumption and SMEs — while pressing ahead with market-based resolution of local government financing platform debt. The central bank signalled a calibrated approach that pairs sectoral credit expansion with ongoing risk containment and closer fiscal coordination.
Hong Kong's Hang Seng closed essentially flat while the Hang Seng Tech index slid nearly 1.8%, led by declines in semiconductor and internet stocks. Gains in coal and property stocks offset tech losses, signalling a rotation from growth to cyclical assets amid profit-taking and shifting sentiment. The split market reaction highlights investor sensitivity to global tech demand and domestic policy signals for property, suggesting continued volatility ahead.
JinkoSolar denied any cooperation or signed agreements with a team linked to Elon Musk after its shares jumped on rumours of visits by Musk’s delegates to Chinese PV firms. The company emphasised that space‑based photovoltaic technology is still in early exploration and has not contributed revenue, while its core business remains terrestrial solar.
Konka, a once‑dominant Chinese television maker, has warned of an RMB12.6–15.6 billion full‑year loss for 2025 driven by large fourth‑quarter impairment charges. The forecast has pushed the company toward negative net assets, raised delisting risks, and intensified governance probes following a recent state‑linked takeover.
At NetEase’s 2026 economists’ conference in Beijing, officials, academics and business leaders argued that China’s next growth phase requires diversified, symbiotic policy: bolster household confidence with social and fiscal measures, pivot toward consumption and services, manage US trade frictions pragmatically, and accelerate credible green supply‑chain transition. The forum stressed that technology and AI pose both productivity opportunities and risks to human skills, while corporate ESG work faces significant implementation hurdles.
Mianbi Intelligence has launched MiniCPM‑o 4.5, a 9‑billion‑parameter multimodal model that can ingest continuous audio, video and text while producing simultaneous outputs, and introduced a Jetson‑based developer board called Pinea Pi. The company positions the stack as an early example of on‑device, embodied AI aimed at robotics, automotive and personal devices, arguing that hybrid cloud‑edge deployments will better meet latency, privacy and stability needs than cloud‑only approaches.
Babi Foods grew revenue 11.2% in 2025 to RMB 1.859 billion but saw net profit dip 1.3% to RMB 273 million after a RMB 93.82 million hit from fair‑value losses on its holding in Dongpeng Beverage. The result highlights a wider issue in China: industrial firms using stock investments to boost returns can import volatility into corporate earnings.
Amazon is negotiating with OpenAI on a commercial agreement that could include a multibillion-dollar equity investment and the creation of bespoke OpenAI models for Amazon products such as Alexa. The arrangement would deepen technical collaboration but raise strategic and regulatory questions about control, vendor lock-in and market concentration in AI.
Amazon is discussing a multibillion-dollar investment in OpenAI alongside a commercial deal that could require OpenAI to assign staff to build custom models for Amazon’s AI products. The move would intensify rivalry with Microsoft, risk fragmenting the AI ecosystem, and raise questions about OpenAI’s independence and regulatory scrutiny.
Chongqing has launched a targeted subsidy programme to accelerate AI adoption in manufacturing, offering up to RMB5 million per project with specific rewards for industrial datasets, trusted data spaces and vertical AI models. The measures align municipal incentives with Beijing's national push for industrial AI, prioritising domain-specific data and applications while raising governance and coordination questions.
Mianbi Intelligence’s founders say multi‑modal, embodied human–machine interaction is entering a decisive phase: rapid improvements in compact, dense models could bring meaningful advances within two to three years. The transition will be incremental, hinging on better on‑device models, cloud–edge integration, and solutions to privacy and power constraints.
A U.S. jet shot down an Iranian drone near an American carrier on Feb. 3, prompting Tehran to shift Feb. 6 talks to Oman and limit the agenda to nuclear issues while excluding missiles and proxies. The move signals Iran's reluctance to accept broad concessions without sanctions relief and narrows the role for regional mediators, increasing the risk of miscalculation.
A recent confrontation off Penghu between a PLA frigate and a Taiwanese vessel highlights Beijing’s sustained maritime pressure on sea lanes that supply Taiwan’s major ports. Beijing’s stepped‑up air and naval activity has prompted Taipei to repurpose conscription into combat units, deepening domestic political strains while increasing the risk of miscalculation and economic disruption.
Several Chinese military and paramilitary units have conducted closely observed, realism‑oriented exercises covering field engineering, UAV operation, high‑altitude reconnaissance, extreme‑cold logistics and jungle mobility. The training indicates a systemic emphasis on sustainment, terrain‑specific tactics and inter‑unit coordination designed to improve readiness across diverse operating environments.
