HOT TOPICS
Shenzhen plans core chip industry support
Shenzhen has issued an action plan to accelerate the application and iteration of core domestic chips, supporting categories that include graphics processing units (GPUs), neural processing units (NPUs), central processing units (CPUs) and data processing units (DPUs). The megacity aims to build a complete industrial ecosystem and encourages the research, development and commercialization of high-performance computing chips based on the RISC-V architecture.
State media calls to end food delivery war
Shares of major Chinese tech companies jumped on Wednesday after the State Administration for Market Regulation reposted a state-run newspaper, Economic Daily, article declaring that the “food delivery war should end.” The article argued that regulators stepping in to halt the price war protects normal economic operations, prevents vicious competition from disrupting the economic recovery and ensures normal livelihoods and income for delivery workers and platforms. Following the publication, food delivery giants saw significant afternoon rallies, with Meituan surging more than 10%, Alibaba Group Holding Ltd. gaining over 5% and JD.com Inc. rising more than 4%.
China displays drone swarm combat system
China has conducted its first full-process demonstration of the domestically developed Atlas unmanned drone swarm combat system. Consisting of a Swarm-2 land vehicle, a command vehicle and a support vehicle, the system allows a single technician to easily operate 96 drones. It incorporates various models of drones in different sizes to form a mutually complementary combat cluster.
Pop Mart shares plunge despite revenue doubling
Shares of Pop Mart International Group Ltd. plummeted more than 22% on Wednesday following the release of its 2025 financial results. The company reported full-year revenue of 37.1 billion yuan ($5.4 billion) for 2025, a 184.7% year-on-year increase, with the Labubu intellectual property family alone accounting for 14.2 billion yuan. Market analysts noted that the strong revenue growth still relies heavily on Labubu, disappointing investors who had hoped other IP lines would drive future growth. Founder and CEO Wang Ning said the company plans to launch IP-centric derivative small home appliances in April, which will be sold on e-commerce platforms like JD.com.
High redemption rates at UBS SDIC Fund
UBS SDIC Fund Management Co. Ltd. announced Wednesday that the vast majority of its investors have reached settlements, with more than 95% of those affected by amounts exceeding 1,000 yuan having completed the process. Despite this, the fund remains caught in a complex situation of extreme volatility and high premiums, resulting in trading suspension warnings being issued on nearly every working day in March.
NEWS SUMMARY
Domestic
China’s 5G mobile phone subscriptions reached 1,235 million, accounting for 67.6% of the total.
Domestic cell phone shipments fell 14.6% year-on-year in February 2026, with 5G models making up 94.9% of the total.
Companies
Anta Sports Products Ltd. reported a profit attributable to shareholders of 13.6 billion yuan for 2025, an increase of 13.9% year-on-year.
Chinese satellite firm GalaxySpace is seeking overseas growth opportunities to compete with Elon Musk’s Starlink.
International
China’s Ministry of Commerce has determined that Mexico’s restrictive measures against China constitute a trade and investment barrier.
