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Major streaming services in Asia including ReelShort, Viu, and iQiyi, are boosting micro dramas and artificial intelligence-powered content to capture and retain audiences in the highly-competitive regional market, top executives said on June 17.
Very short dramas with video episodes of just several minutes have quickly gained popularity in Asia in recent years, led by Chinese productions. Mostly romance-themed, they usually run in vertical formats and can last 50–100 episodes, capitalizing on viewers' shrinking attention spans. Recently, a fast-growing number of such dramas have been generated using AI.
Joey Jia, founder and CEO of ReelShort, a streaming app owned by Beijing-based COL Group, said the company has doubled its AI team after experiencing rapid growth last year. This is despite him feeling "scared" with how "AI is completely changing the competition landscape."
"We need more people really focusing on content—knowing how to use AI and create better" reels amid a flood of AI-generated content, Jia told an entertainment and technology conference in Bali organized by Media Partners Asia.
Jia said he was inspired by his ten-year-old daughter after seeing her watch completely AI-generated content on YouTube. She told him it did not matter if content is artificially made, saying animations are all artificial too in essence.
"I realized, at the end of the day, our [audiences] are all looking for great content. Doesn't matter what way you" make them, Jia said.
He said that beyond the romance staple in micro dramas, AI can help companies tap a wider variety of genres: "Basically you can do anything you can imagine."
The next important space for growth is localizing AI-generated content, Jia added, citing examples of different markets like Indonesia and Japan with different story preferences.
Speaking at the same forum, Janice Lee, managing director of Hong Kong's PCCW Media Group and CEO of its streaming platform Viu, said AI is about "how we do things faster, be more responsive to market, perhaps at a lesser cost, so that we can redeploy the resources where it counts."
Lee said AI can "potentially" help Viu create micro dramas, "which is a new category for us."
Yang Xianghua, president of China's streaming platform iQiyi International, explained how Chinese companies produced dramas using AI.
"Whether it's a big company or small, they all have in-house AI teams," Xianghua said, adding that AI content production generally costs much less than human-made ones.
He said that it did not matter much if the content is AI-generated or not, citing the example of animations as among the first genres widely using AI technologies. "The audiences cannot tell them apart," he said.
He admitted that viewers are currently less keen on watching high-quality categories such as movies if they are produced using AI. "Maybe three years later, I think AI-generated … high-quality films [will feel] almost the same with human-made [ones]."
iQiyi and Viu also announced bundled subscription options to access their content for viewers in Indonesia, Thailand, the Philippines, and Malaysia.
Vivek Couto, CEO of Media Partners Asia, said China is expected to remain the biggest market for the fast-growing micro drama industry in the next few years. He said the industry revenue in China could reach USD 16.8 billion by 2031, from a projected USD 11.5 billion this year. In markets outside China, the revenue is projected to triple from a forecasted USD 3.2 billion in 2026.
Couto said around 40–50% of the top 100 micro dramas in China today are generated using AI.
"Winners in micro dramas won't be the heavy spenders," he said. "They'll be the operators who use AI in some ways to make more bets and new genres."
This article first appeared on <a href="https://asia.nikkei.com/business/technology/artificial-intelligence/asian-streaming-services-go-big-on-microdramas-and-ai-content">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.rwegrgdf5.eu.org/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Asian streaming services go big on microdramas and AI content

Artificial Intelligence

Entertainment

Deep Tech

Video

Creative

Content

Creator Economy

Southeast Asia

China

RayNeo remains one of the leading companies in the consumer augmented reality market by shipments. Data from Counterpoint Research, IDC, and CINNO Research show that, in the first quarter of 2026, RayNeo ranked first by shipments and sales volume in the global and Chinese AR glasses markets.
During the 618 shopping festival, China’s midyear <a href="/industry/e-commerce">e-commerce</a> sales event, RayNeo also ranked first by sales volume across the combined AR and smart glasses category on major Chinese e-commerce platforms, giving it a strong start to the first half of the year.
The sales growth has come as the smart glasses market undergoes structural change. According to Counterpoint Research and CINNO Research, the top five brands in the global consumer AR market have changed multiple times since the first quarter of 2025. RayNeo is the only brand that has consistently ranked first in both shipments and sales volume in the AR glasses market. As of the first quarter of 2026, it had ranked first globally in shipments for four consecutive quarters and led China in sales volume for five consecutive quarters, underscoring its competitive position.
As of June 18, RayNeo also ranked first by total sales volume across the combined AR and smart glasses category on major Chinese e-commerce platforms during the 618 shopping festival. It has held the top spot in the category for five consecutive years. Its new RayNeo GT Max product reportedly ranked first among individual AR glasses products across three platforms and topped <a href="/company/jd">JD.com's</a> extended reality device rankings for 21 consecutive days.
RayNeo has built a product portfolio spanning multiple categories and price points, including AR video glasses, <a href="/industry/ai">artificial intelligence</a>-powered camera glasses, and smart glasses. In May, it launched the GT series of cinematic AR glasses, with a starting price of RMB 1,899 (USD 278.5). The product brought an audiovisual experience previously associated with five-figure RMB prices into the RMB 1,000 (USD 146.7) price range.
RayNeo GT Max also topped JD.com’s extended reality, or XR, device sales rankings throughout the 618 shopping festival.
RayNeo also introduced its new-generation AI camera glasses, RayNeo V4, with prices starting at RMB 2,199 (USD 322.5). Since launch, RayNeo V4 has received positive user feedback for two main selling points: weight and battery life. It is positioned as one of the AI camera products that comes closest to the form factor of everyday glasses. In the premium full-color AR category, RayNeo X3 Pro was selected for Time’s “The Best Inventions of 2025,” supporting RayNeo’s position in the premium segment.
IDC has noted that lightweight display glasses are gradually entering consumers’ field of view and have become an important factor in the market’s structural changes in the first quarter. RayNeo is expected to launch a new product, RayNeo iO, in the third quarter of this year. The product integrates AI capabilities into a minimalist everyday eyewear form factor. With an advanced optical solution and a slim, lightweight design, it aims to address the form-factor limits of smart glasses and expand the potential market for lightweight AI glasses.
This <a href="https://xueqiu.com/2854806290/396445793">article</a> was adapted based on a feature originally written by and published on IPO Zaozhidao. KrASIA is authorized to translate, adapt, and publish its contents.
Note: RMB figures are converted to USD at rates of RMB 6.82 = USD 1 based on estimates as of June 25, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

RayNeo extends AR glasses lead as smart eyewear demand shifts

Augmented and Virtual Reality

On June 24, Seer Robotics officially listed in Hong Kong. Its shares opened flat at HKD 101.6 (USD 13), then climbed steadily to an intraday high of HKD 140.5 (USD 17.9), up 38.3%, before pulling back to close closer to the offering price.
Based on that valuation and the company’s RMB 442 million (USD 64.8 million) in revenue last year, its trailing price-to-sales ratio rose to about 25 times, making it one of the most highly valued new <a href="/industry/robotics">robotics</a> stocks in Hong Kong. Geek+, a major autonomous mobile robot company, trades at about nine times sales, while Estun, one of China’s leading industrial robot companies, trades at about four to five times sales. Seer Robotics’ offering price had already reflected expectations that its high growth and high gross margins can continue.
Seer Robotics went through a sharp swing in just 24 hours. In gray market trading on the afternoon of June 23, the stock opened slightly higher at HKD 105 (USD 13.4) and rose as high as HKD 130, (USD 16.6) up 27.9% from its offering price. It then slid sharply, falling as low as HKD 80, (USD 10.2) down 21.3%. Its trading range for the day reached 49.21%. It ultimately closed near the lower end at HKD 94.2 (USD 12), down 7.28% from the offering price. For most of the session, it traded below the offering price, with an average transaction price of HKD 92.84 (USD 11.8) and a gray market capitalization of about HKD 10.4 billion (USD 1.3 billion).
More striking than the break below the offering price was the volatility. Among investors who bought early, many were quickly underwater. Those trying to trade the stock intraday were caught in a range that stretched nearly 50% from top to bottom.
From a share supply perspective, the volatility reflected the limited number of freely tradable shares. The public offering accounted for only 9.5%, while cornerstone investors locked up another 4.12%. With limited supply, both a rally and a pullback required only a small amount of trading volume.
The eight cornerstone investors subscribed to a combined 43.34% and are subject to a six-month lock-up. They include Hillhouse’s HHLRA, GF Fund, and others. Their holdings moved from an aggregate paper loss of about HKD 33.67 million (USD 4.3 million) to a paper gain of about HKD 64.15 million (USD 8.2 million) as the stock swung.
Seer Robotics is regarded as a market leader in robot controllers, with a 24.8% share. But under a different metric, based on revenue from industrial intelligent robots, the company’s own prospectus shows that Seer Robotics ranks only seventh globally, with a 1.1% share, and third in China, with a 2.5% share.
Leadership in sales volume does not necessarily translate into leadership by revenue, much less dominance of the broader market. Robot controllers remain a narrow niche. That business alone may not be enough to support a market capitalization of HKD 12.8 billion (USD 1.6 billion), which is why Seer Robotics needs to make and sell complete robot units at scale. But complete robot units have a gross margin of only 38.4%, which helps explain the pressure on profit growth.
An industry player told 36Kr that major robotics manufacturers rarely source controllers externally because they can make controllers themselves, and because external sourcing could help cultivate a competitor. As a result, Seer Robotics’ real controller customers have not been major manufacturers, but a group of integrators. Scaled procurement by these integrators will likely have to wait until industry penetration rises further, the person said. In other words, the high-margin story around standalone controllers has not yet fully materialized.
When a company’s market leadership is defined narrowly, its complete robot business weighs on gross margins, and its valuation is already high compared with peers, investors may not keep buying the stock based on status alone. In the short term, Seer Robotics’ share price will depend partly on market sentiment. In the medium to long term, it will depend on whether the company can defend its controller share and whether profitability from complete robot units can improve.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3866666733835522">article</a> was written by Peng Xiaoqiu for 36Kr.
Note: HKD, RMB figures are converted to USD at rates of HKD 7.84 = USD 1 and RMB 6.82 = USD 1 based on estimates as of June 25, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Seer Robotics rides 24-hour market swing in Hong Kong debut

Robotics

Hong Kong

… catalysts: HJ178’s planned Phase 2 start in July 2025 and the milestone payments mentioned above.
The cornerstone lineup also shows how much of the IPO was institutionally supported. Six cornerstone investors subscribed for USD 65 million, about HKD 509 million (USD 64.9 million), accounting for 45.7% of the offer shares and 8.6% of total post-IPO share capital. All are locked up for six months.
<h3>The next milestones have to carry the valuation</h3>
HJ Science founder Ji Jianxin, 50, earned a doctorate from Hong Kong Polytechnic University in 2004 and later conducted chemistry research at Vanderbilt University. He has published more than 40 papers in journals including PNAS and JACS, accumulated more than 1,400 citations, and applied for nearly 30 patents, according to 36Kr. Before founding HJ Science, he worked at Diao Group from 2007–2016, eventually serving as executive vice president.
The company’s senior team has similar links. COO Yang Xiangyu previously worked as a drug development researcher at Diao, while R&amp;D head Guo Na previously led a chemical innovative drug lab at the company and holds a doctorate in medicinal chemistry from the Chengdu Institute of Biology, Chinese Academy of Sciences.
That background gives HJ Science scientific credibility, but public markets will now ask for clinical and commercial proof. The company has three marketable themes in TYK2, oral GLP-1, and KRAS, but all three are crowded. It also has no approved drug, no product revenue, a recent cash crunch, and a valuation that depends on future milestones.
The concerns are concrete:
<ul>
<li aria-level="1">Can HJ891 submit its new drug application as planned in the second half of 2026?</li>
<li aria-level="1">Can HJ787 differentiate itself in a crowded TYK2 and JAK field?</li>
<li aria-level="1">Can HJ178 find room in an oral GLP-1 market with dozens of competitors?</li>
</ul>
For now, HJ Science’s drop suggests investors are not rejecting the story outright. But they are asking whether the story is worth the price.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3865070004212994">article</a> was written by Peng Xiaoqiu for 36Kr.
Note: HKD, RMB figures are converted to USD at rates of HKD 7.84 = USD 1 and RMB 6.82 = USD 1 based on estimates as of June 25, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

HJ Science stumbles in Hong Kong debut after gray market surge

Biotechnology

… and a stronger voice in the global market. Mid-tier studios are using deeper excavation of the existing market and differentiated tactics to hold a stable commercial base. The two paths appear to diverge, but they depend on each other.
User growth has plateaued, user acquisition costs have doubled, and return volatility has increased. That has turned competition for the existing market among top-tier companies into inefficient internal friction. Mid-tier companies pay more attention to near-term returns, run more flexible operations, and control costs more tightly. On the same battlefield, giants are becoming more passive. But with sufficient capital and industrial capability, top-tier companies can choose to enter areas that mid-tier companies cannot yet reach, occupying a higher position in the value chain. AAA single-player games are the most visible entry point into that territory.
The risks that come with this choice cannot be ignored. The first is cost overrun and uncertain returns. Global development costs for AAA titles have surged to USD 200–400 million, making profitability difficult. Chinese companies lack accumulated IP and global channel advantages, so their probability of failure is higher. The failure of one AAA title could mean billions of RMB in sunk costs.
The second risk is latecomer disadvantage in product form. The themes, gameplay, and narrative paradigms of most domestic AAA games have not yet broken out of frameworks already established by US and European developers. When players can choose mature products such as God of War and Elden Ring, why should they choose a Chinese equivalent? If derivative productions cannot offer enough differentiation, they may become expensive imitations.
The comfort zone of mid-tier studios also carries risk. Innovation means uncertainty, and in a low-margin environment, uncertainty becomes a luxury. When the market becomes highly homogenized, user fatigue accumulates faster. Today’s safe zone could narrow quickly.
The division of labor between giants and mid-tier studios looks like a rational market choice: each guards its own section and earns its own money.
But that division could bring two negative consequences:
<ul>
<li aria-level="1">If giants suffer major failures, it will damage the industry’s confidence in high-end single-player games and discourage later entrants.</li>
<li aria-level="1">If mid-tier studios keep harvesting the existing market, they will accelerate user fatigue and shorten category life cycles, eventually leaving less profit for everyone.</li>
</ul>
The larger question is what Chinese companies are really trying to prove when they make AAA games. Are they creating a distinctive game language and aesthetic, or are they following a path that European and US counterparts have already taken? Are they proving that they can make the same thing, or that they can make something different?
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3858373969286148">article</a> was written by Xiao Kui for 36Kr.
Note: RMB figures are converted to USD at rates of RMB 6.79 = USD 1 based on estimates as of June 23, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

China’s game makers split as giants chase prestige and others target profit

Gaming

… next-generation robots, we can also sort out the corresponding data collection plans and model solutions in advance.
<h3>36Kr: Among data collection, model iteration, and scenario expansion, how do you prioritize these businesses right now?</h3>
WX: Data and scenarios are relatively critical. Because the embodied intelligence industrial chain is very long, you need to quickly occupy an ecosystem position.
So at this moment, we are using our own solutions to form close cooperation with local governments and leading companies in scenarios. This is the strategic foothold.
The model itself is still evolving and may not be as urgent. But building models also helps us secure leading companies in scenarios, because compared with robot hardware bodies, we are closer to data and scenarios. So while iterating the model, we still have to seize scenarios rather than stay confined to the lab.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3855262364488969">article</a> was written by Zhou Xinyu for 36Kr.

Why world models alone will not solve robotics’ deployment problem

SenseTime

East Asia

Embodied Intelligence

China's <a href="/company/geely">Geely Automobile Group</a> plans to begin making <a href="/industry/ev">electric vehicles</a> at Malaysian partner Proton's factory as early as the first half of 2027, aiming to tap higher demand brought on by the oil crisis, as momentum slows at home.
Zeekr, Geely's premium sub-brand, is preparing to use an existing Proton line to produce the fully electric Zeekr 7X midsize SUV, said Mars Chen, Zeekr's vice president. Geely's parent, Zhejiang Geely Holding Group, owns 49.9% of Proton.
"We will take another look at [Malaysia's trade] position … and determine where the cars can enjoy the highest liquidity," said Chen, who oversees overseas operations for Zeekr and its sister brand Lynk &amp; Co, alluding to potential exports to neighboring countries.
Zeekr is among the Chinese carmakers <a title="" href="https://rwegrgdf5.eu.org/chinese-ev-makers-awaken-western-rivals-zombie-production-lines" target="_blank" rel="noopener">reviving underutilized factories</a> abroad to deepen their global reach, a strategy partly driven by rising trade protectionism. Malaysia, Zeekr's first overseas production base, is expected to raise EV import taxes, starting July 1, after an EV subsidy program ended last year.
Chen added that the company has no plans to build new factories abroad, citing excess production capacity in "many places."
Proton has added EV lines at its <a title="" href="https://asia.nikkei.com/business/automobiles/electric-vehicles/malaysia-s-proton-to-open-first-ev-factory-in-september" target="_blank" rel="noopener">Tanjung Malim plant</a>, which is operating at about 60% of its 20,000-vehicle annual capacity. This can be raised to 45,000 vehicles, the company says. It makes the e.MAS EV for domestic and export markets.
High gasoline prices have increased global interest in EVs, and Chen aims to more than double the combined overseas sales of Zeekr and Lynk &amp; Co to more than 100,000 cars in 2026.
Middle East energy supply disruptions have lifted demand for Geely's cars by at least 10%, Chen said, singling out Australia and South Korea. "Any country reliant on imported oil will experience the change in favor of EVs and hybrids."
Zeekr, which is present in more than 50 countries, aims to enter four more markets by the end of the year, including South Korea, New Zealand, South Africa, and the UK.
In April, Geely raised its annual overseas sales target to 750,000 cars, up 17% from its previous goal of 640,000 cars, after first quarter exports jumped 126% from a year earlier.
"What is unquestionable is [that EVs offer] a combination of better technologies, fuel efficiency and lower maintenance costs to win customers," said Chen, adding that oil prices remain "volatile."
The US and Iran have signed an initial deal to reopen the Strait of Hormuz and extend their ceasefire by 60 days.
Geely is not insulated from weakness in China, the world's largest auto market, where sales have plunged for eight consecutive months following the rollback of EV subsidies. In the first five months of the year, Geely's total sales at group level rose only 1%, compared with a 158% gain in exports.
Investment bank Jefferies estimates Geely's export volume will top its previous monthly record, reaching over 100,000 cars from June onwards, with its gross profit margins 10 percentage points higher than that of its domestic business.
"Geely's overseas expansion [is] moving from initial market penetration to brand and network buildout," Jefferies wrote in a research note last week. "Rather than building new overseas capacity, Geely partners with local manufacturers, including Proton and Renault, to achieve localization while limiting capex and navigating regulatory constraints."
Chen said Geely is also weighing whether to convert an existing Renault plant in Brazil to manufacture its models, although no decision has been made.
This article first appeared on <a href="https://asia.nikkei.com/spotlight/electric-cars-in-china/geely-seeks-to-double-zeekr-sales-abroad-eyeing-malaysia-output">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.rwegrgdf5.eu.org/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Geely seeks to double Zeekr sales abroad, eyeing Malaysia output

Zeekr

Transportation

Electric Vehicles

Mobility

Malaysia

… advantages:
<ul>
<li aria-level="1">First, it has a high level of user trust. As the official railway platform, it does not face the same concerns around false promotion or bundled purchases.</li>
<li aria-level="1">Second, its traffic costs are low. It does not need to spend heavily on marketing to acquire users the way OTAs do. It can rely on existing ticket buying traffic to achieve organic conversion.</li>
</ul>
A similar transformation has already taken shape in civil aviation.
Umetrip, under TravelSky, previously launched a platform function for direct civil aviation sales, integrating direct sales resources from 37 domestic airlines and emphasizing transparent pricing, no bundled sales, and the prevention of algorithmic price discrimination. By directly connecting with official airline channels, it has quickly captured market share through public credibility.
The same could apply to the railway industry.
In recent years, China’s railway system has faced multiple operating pressures. On one hand, profitability has diverged among high-speed rail lines. Only a small number of trunk routes can generate stable profits, while many routes in central and western China rely on profits from trunk routes to subsidize operations. On the other hand, as passenger traffic growth slows, growth in rail ticketing revenue alone is plateauing. The system needs to accelerate market-oriented exploration, tap derivative user demand, and broaden revenue sources.
The Beijing-Shanghai High-Speed Railway (HSR), the country’s busiest line, shows how growth pressure has emerged in recent years. Financial reports show that in 2025, Beijing-Shanghai HSR recorded revenue of RMB 43.1 billion (USD 6.4 billion) and net profit attributable to shareholders of RMB 13.2 billion (USD 1.9 billion), up only 2.15% and 3.16% year-on-year, respectively.
Its gross margin remains strong in absolute terms, but it has been slowly declining since 2024, falling from 47.39% to 45.82% in the first quarter of this year.
Accordingly, Beijing-Shanghai HSR, often considered the most profitable high-speed rail line in China, has started another round of price adjustments, raising the published fares of some electric multiple unit trains by 20%.
Although published fares may not necessarily match the actual fares passengers pay when buying tickets, the move still lifts the ceiling for high-speed rail pricing.
To some extent, this reflects operating pressure in the railway industry.
If 12306 continues to expand into hotel, travel, and tourism businesses, traditional OTAs’ profit margins may come under further pressure.
As the train ticket traffic channel tightens, the difficulty of acquiring external traffic will increase. At the same time, railway travelers who could previously have been converted by OTAs may be intercepted directly by the official platform, putting pressure on their core profit segments.
This change may have a more obvious impact on smaller and midsize OTAs, as well as platforms focused mainly on train ticketing. They usually lack the diversified business layouts of Trip.com and Tongcheng, as well as their brand and funding advantages.
Still, 12306 has clear shortcomings in hotel and travel services at this stage. Traditional OTAs have spent years cultivating the accommodation and tourism markets, building extensive hotel resources and advantages in product breadth, refined services, and offline supply chain integration.
By contrast, 12306 started as a ticketing platform. It is still in the early stages of hotel contracting, homestay operations, travel itinerary design, after-sales service, and other areas. In the short term, it will be difficult for it to replace traditional OTAs.
For OTA platforms, however, the business model that once relied on ambiguous promotion, bundled value-added services, and information asymmetry is now facing adjustment. Ticketing will return to its role as a basic service. Reducing reliance on rail traffic gateways, while improving competitiveness in tourism products, user experience, and supply chain integration, will become the next task that major OTAs need to answer to the market.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3853918856696834">article</a> was written by Wang Hanyu for 36Kr.
Note: RMB figures are converted to USD at rates of RMB 6.79 = USD 1 based on estimates as of June 23, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

12306 moves beyond tickets as OTA traffic comes under pressure

Travel

Consumer Economy

… strictly control costs, so we can meet young men’s demand for good products with strong value for money.”</blockquote>
Li made clear that even when technology or range is upgraded and price bands move higher, Aima will continue focusing on adding features without raising prices, using value for money to compete for market share.

China’s Aima bets on Black Wing to broaden the appeal of electric two-wheelers