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… managers’ index rising to 52.8 from 51.5 in April, <a href="https://english.aawsat.com/business/5279979-saudi-non-oil-private-sector-activity-hits-3-month-high-may">Asharq Al-Awsat</a> reported. The reading was the highest in three months.
Supply chain conditions improved as businesses relied more heavily on local suppliers, resulting in shorter delivery times for the first time in three months. Survey data pointed to stronger domestic demand, more normalized working conditions, a recovery in contract activity, and more stable supply chains.
<h3>Humain and Nvidia partner on robotaxis</h3>
Humain, the <a href="/industry/ai">artificial intelligence</a> company backed by Saudi Arabia’s Public Investment Fund, will partner with Nvidia to support the deployment of robotaxis in the Middle East, <a href="https://www.agbi.com/transport/2026/06/humain-partners-with-nvidia-for-robotaxi-launch/">AGBI</a> reported.
The two companies plan to develop the infrastructure, intelligent systems, and operational capabilities required for autonomous transportation, with a focus on Saudi Arabia’s autonomous mobility ecosystem.
Nvidia recently upgraded its Drive Hyperion robotaxi platform to support ride-hailing fleets capable of Level 4 <a href="/industry/autonomous-vehicles">autonomous driving</a>.
<h3>Qatar updates business activity classifications</h3>
Qatar’s Ministry of Commerce and Industry announced a three-phase update to registered business activities that began June 1, according to <a href="https://thepeninsulaqatar.com/article/01/06/2026/moci-announces-phased-update-of-commercial-activities-for-existing-companies">The Peninsula</a>.
The changes are intended to align Qatar with the Gulf Cooperation Council’s Unified Guide for Economic Activities Classification, improve data quality and transparency, and simplify administrative procedures.
The ministry said the update will not affect companies’ existing business activities or commercial registrations.
<h3>Qatar growth supported by diversification efforts</h3>
Qatar’s economy has continued to grow, supported by long-term planning, investment inflows, and diversification efforts, according to data from the Qatar International Media Office cited by <a href="https://thepeninsulaqatar.com/article/04/06/2026/qatars-diversification-drive-fuels-economic-expansion-attracts-strong-investment-flows">The Peninsula</a>.
Qatar’s GDP has grown 38-fold over the past three decades, while the economy has expanded at an average annual rate of around 6% over the past 15 years.
Outbound foreign direct investment stock reached QAR 210 billion (USD 57.7 billion) in 2025, up 8.1% year-on-year, while inward FDI stock rose 2% to QAR 165.4 billion (USD 45.4 billion).
<h3>Startup Grind Doha partners ArcPath Partners to support startups</h3>
Startup Grind Doha and ArcPath Partners have partnered to provide discounted operational support packages for startups in Qatar, <a href="https://www.gulf-times.com/article/726733/business/partnership-eases-compliance-burden-for-qatar-startup-founders">Gulf Times</a> reported.
The services cover company formation, compliance, human resources, payroll, and accounting, allowing founders to focus on product development, customer acquisition, and business growth.
Startup Grind Doha said founders increasingly require practical operational support as the startup ecosystem matures, in addition to inspiration, networks, and capital.
<h3>Qatar ports container volumes rise 44%</h3>
Container throughput at Hamad Port, Al Ruwais Port, and Doha Port increased 44% in May 2026 compared with April, according to data released by Mwani Qatar and cited by <a href="https://thepeninsulaqatar.com/article/02/06/2026/qatar-ports-see-44-surge-in-container-volumes-in-may">The Peninsula</a>.
The three ports handled more than 73,000 twenty-foot equivalent units during the month, while vessel traffic also increased.
Mwani Qatar said the growth reflects the benefits of the country’s strategic location and expanding shipping network, as Qatar’s ports work to improve cargo flows, transshipment efficiency, and the country’s role as a regional trade and logistics hub.
This <a href="https://mp.weixin.qq.com/s/5JlCIQ_l5VXXfKcFsWSzRw">article</a> was adapted based on a feature originally written and published by Al Shasia. KrASIA is authorized to translate, adapt, and publish its contents.
Note: AED, QAR figures are converted to USD at rates of AED 3.67 = USD 1 and QAR 3.64 = USD 1 based on estimates as of June 10, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Middle East weekly: Dubai plans smart medical visa, Saudi fund expands overseas project support, Qatar updates business activity classifications, and more

Saudi Arabia

Qatar

Middle East

On June 2, NBA star Stephen Curry signed a ten-year endorsement deal with Chinese sportswear brand <a href="/company/li-ning">Li-Ning</a>. Neither side disclosed the value of the agreement, but industry accounts have largely converged around one figure: more than USD 400 million.
Citing multiple reports, 36Kr said Curry will receive a guaranteed annual endorsement fee of USD 30 million, a share of sales from his personal Curry Brand, and equity incentives tied to Li-Ning’s listed shares. The structure, combining a large guarantee, sales participation, and equity upside, resembles the kind of treatment Nike once gave Michael Jordan.
Curry brings a rare combination of performance record, traffic, and market appeal. He is widely regarded as one of the NBA’s most influential players and one of the greatest guards in league history.
In April, <a href="https://www.usatoday.com/story/sports/high-school/2026/04/21/best-nba-players-all-time-2026-list/89657967007/">USA Today</a> ranked Curry fourth on its list of the 25 greatest NBA players, behind only Jordan, LeBron James, and Kobe Bryant. Other sports media rankings have tended to place him lower, but Curry still offers much of what a sports brand wants in a global endorser.
<h3>Why Li-Ning made the bet</h3>
The commercial value of a basketball endorsement usually rests on two forms of leverage.
The first is performance-led sales, where a player’s on-court output directly moves product. At 38 and entering the later stage of his career, Curry carries more uncertainty on that front. The second is broader IP value. Jordan’s brand continued selling long after his retirement, but building that kind of asset requires time, patience, and sunk cost.
Seen from that angle, Li-Ning can be seen as signing Curry after the peak of his playing career. Capital markets also tend to be wary of long-cycle bets. The question then, is whether Li-Ning’s spending will prove worthwhile.
Li-Ning and Nike both showed interest in Curry in 2013. At the time, he was a rising young player whose right-foot injuries made brands hesitant. Under Armour made a more committed offer, and the two sides eventually reached a deal reportedly worth USD 4–5 million per year. What followed became a textbook sports marketing case.
As Curry’s value rose, Under Armour’s basketball business surged with him. In 2015, Curry’s first signature shoe, Curry 1, generated USD 160 million in sales. Under Armour’s basketball shoe sales jumped 350% that year, and the company’s total revenue rose from USD 2.3 billion in 2013 to USD 4 billion.
In November 2025, Curry’s partnership with Under Armour expired, giving Li-Ning another opening.
US sports journalist Shams Charania said on social media that Curry had tried different shoes and found himself most comfortable in the signature models of Dwyane Wade and Jimmy Butler. Both products are made by Li-Ning.
Li-Ning signed Wade to a lifetime deal in 2018, as the former NBA star neared retirement, and built the Way of Wade sub-brand around him. It has become one of the company’s most prominent case studies. Li-Ning’s strategy with Butler has been more performance-oriented, with the Jimmy Butler 1 and 2 positioned as high-end basketball shoes for serious players.
<h3>Why Curry chose Li-Ning</h3>
Curry’s decision to choose Li-Ning over richer offers was not driven only by recommendations from teammates.
Charania added that Li-Ning and <a href="/company/anta">Anta</a> were the final two contenders, and that Li-Ning pulled ahead because it offered Curry a more diversified investment portfolio rather than a simple one-to-one endorsement agreement.
Materials provided by Li-Ning also show that the company and Curry will jointly operate Curry Brand, with products spanning basketball shoes, golf goods, and sports lifestyle apparel. The two sides will build the brand together and explore broader possibilities for the globalization of both Li-Ning and Curry Brand. Standalone Curry Brand stores are also planned.
All of this points in one direction: Li-Ning wants Curry Brand to become the next Air Jordan.
In China, Li-Ning still benefits from the national recognition and symbolic appeal of its founder, a former elite athlete. But replicating Air Jordan will be difficult.
The industry’s broad view, according to 36Kr, is that Air Jordan succeeded because Nike made an all-in bet at the right time, during an era dominated by television and powered by rapid global growth in basketball. Today, younger consumers are less attached to live basketball than previous generations were.
The challenge is visible in viewership data. The first game of the 2025 NBA finals drew fewer than 11 million television viewers, down 5% from 2023. Some reports said the second game of the finals drew only 8.6 million viewers globally, the lowest level since 2007.
whereRelatedArticle
If lower ratings reflect fragmentation caused by shortform video and other media channels, financial results offer a more direct view of the industry slowdown.
Li-Ning’s 2025 annual report showed that sales from its basketball category fell 19% year-on-year. The decline reflected both broader weakness in basketball participation and consumption, as well as the company’s own adjustments over the past two to three years.
At the company’s earnings call, Li-Ning group executive director and co-CEO Qian Wei said the company believes maintaining investment and market leadership in basketball could help it keep expanding market share before the category recovers. “Basketball is extremely important to Li-Ning,” Qian said. “The tougher the market environment, the more we need to stay committed to deepening our work in the category.”
A company insider also told 36Kr that the Curry signing is viewed internally as a key move in Li-Ning’s globalization strategy.
JPMorgan has said it takes at least 15–18 months to build a mature brand matrix, while amortization costs and R&amp;D spending tied to the contract will start affecting the company from 2026. Still, JPMorgan views the impact as manageable and forecasts that Li-Ning’s advertising and promotion expenses will account for 12% of total sales this year. In recent years, the figure has generally stayed around 9%.
As of publication, institutions including JPMorgan and CICC continued to rate Li-Ning as “overweight” or “buy.”
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3838185031305474">article</a> was written by Xie Yunzi for 36Kr.

Will Li-Ning’s Stephen Curry deal cut both ways?

East Asia

Li-Ning

China

Consumer Economy

Chinese battery and automotive makers are working to develop the next generation of batteries for <a href="/industry/ev">electric vehicles</a>, with manufacturers SAIC Motor and <a href="/company/byd">BYD</a> set to launch EVs equipped with all-solid-state batteries (ASSB) in 2027.
In early March, state-owned SAIC and battery startup Qingtao (Kunshan) Energy Development Group assembled a prototype <a href="/industry/ev">EV</a> equipped with an ASSB dubbed the "Guangqi" battery. The companies aim to bring the product to market in 2027 after repeated testing for mass production.
ASSBs replace the liquid electrolyte used in conventional batteries with a solid material. They are seen as a game changer for EVs because they address the shortcomings of existing lithium-ion batteries.
Among their advantages is improved safety, with next-generation batteries eliminating the risk of thermal runaway—uncontrollable heat buildup—caused by electrolyte leakage. They also boast a high energy density that is expected to enable driving ranges of over 1,000 kilometers.
SAIC and Qingtao Energy are working on both ASSBs and their precursor, semi-solid-state batteries. MG, a British brand under SAIC's umbrella, has already launched models equipped with semi-solid batteries that reduce liquid electrolyte content to 5%.
Among the brand's MG4 EV lineup, the semi-solid battery version offers a driving range of 530 kilometers on a full charge, based on China's testing standards. The vehicle is priced from RMB 90,000 (USD 13,248.2). The battery is said to maintain stable performance even in low temperatures. It is being adopted in additional models, such as the recently released MG4X sport-utility vehicle.
Chinese automaker BYD is aiming to install ASSBs in some vehicles around 2027. Originally a mobile phone battery maker, the company now develops and produces lithium iron phosphate batteries in-house. It began work on ASSBs as early as 2013 and is targeting 2030 for large-scale production.
The ASSB market is projected to reach RMB 5.7 billion (USD 839 million) in 2027 and RMB 113.8 billion (USD 16.8 billion) in 2030, according to Guosen Securities. An industry group forecasts that by 2040, about half of global battery demand will be replaced by solid-state or semi-solid batteries.
China held a more than 70% share of the global car battery market in 2025, based on installed capacity. Japanese and South Korean companies are stepping up their own ASSB development programs in an effort to catch up.
In Japan, Toyota Motor aims to commercialize EVs with ASSBs between 2027–2028, working with Idemitsu Kosan and Sumitomo Metal Mining to prepare for mass production. Nissan Motor is targeting commercialization by fiscal 2028, while Honda Motor is aiming for the latter half of the 2020s.
But the path to widespread ASSB adoption differs significantly between Japan and China. Chinese firms are actively developing and deploying semi-solid batteries as a bridge to ASSBs, while Japanese companies for the most part have not pursued semi-solid battery development.
At a major battery exhibition held in mid-May in Shenzhen, enthusiasm for new battery tech bubbled over as attendance reached a record high.
At the booth of battery maker Gotion High-tech, crowds gathered around a semi-solid battery pack that the company expects to be installed in cars from major manufacturers from as early as this year.
"The ultimate goal for battery companies is to install all-solid-state batteries in vehicles," said a company representative at the booth. Gotion has already completed a production line with a capacity of two gigawatt-hours for ASSBs. It aims to significantly lower costs in the future—down to RMB 1 (USD 0.1) per watt-hour—by expanding production of materials like sulfide-based solid electrolytes.
Battery makers CALB and EVE Energy, along with automakers such as <a href="/company/chery">Chery</a> and <a href="/company/gac">GAC</a>, are likewise pursuing commercialization of ASSBs while using semi-solid technologies. The Chinese players are working with semi-solid batteries in part because "they need to continuously release new products in short cycles, or else they'll lose to the intense competition in the country," according to an employee at a Japanese battery company.
But challenges to widespread adoption remain. "Semi-solid batteries can utilize about 80% of existing production lines, whereas all-solid-state batteries require new lines, meaning double or more the required investment," said Tang Jin, senior researcher at Mizuho Bank. "Costs are particularly burdensome in the initial stages, when economies of scale aren't yet achievable."
As long as production of ASSB-equipped vehicles remains limited to around 20,000–30,000 units, some think the price of ASSBs could be more than five times that of current lithium-ion batteries. Companies like Gotion are looking to cut costs, but it is unclear whether there will be enough demand for mass production.
Stable mass production will also require the creation of new manufacturing processes and supply chains.
But China has the world's largest market for electrified vehicles, with EV and plug-in hybrid car sales totaling about 16 million units annually, nearly half of new car sales. The puts Chinese companies in a position to accelerate the adoption of new technologies and stay ahead of rivals elsewhere.
This article first appeared on <a href="https://asia.nikkei.com/business/technology/china-s-byd-saic-motor-eye-evs-with-all-solid-state-batteries-in-2027">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>.
Note: RMB figures are converted to USD at rates of RMB 6.79 = USD 1 based on estimates as of June 8, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

China's BYD, SAIC Motor eye EVs with all-solid-state batteries in 2027

Battery

… bringing its total fundraising over the past three months to more than RMB 1 billion (USD 147.2 million). Investors include a Liangxi fund managed by Broad Vision Funds, Yangzhou Longtou Xinli, ZBJL Capital, ThunderSoft, Kingswood Inks, and returning investor CAS Investment Management. An unnamed listed company also participated. The company’s valuation has surpassed RMB 10 billion (USD 1.5 billion). —<a href="https://36kr.com/p/3836068296209537">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>SG Enviro, E3A Healthcare, Volant, and others made recent headlines:</h3>
<ul>
<li aria-level="1">SG Enviro, a Singapore-headquartered industrial water and wastewater engineering company, completed its Series A round with backing from Emerald Ventures and Seeds Capital.</li>
<li aria-level="1">E3A Healthcare, a Singapore-founded medical technology company focused on women’s health, completed its Series A and Series A1 rounds. The funding was led by Kapok Capital, with participation from Watten Capital, Kangaroo Mommy, and Solebay Capital.</li>
<li aria-level="1"><a href="https://www.volantaerotech.com/en">Volant Aerotech</a>, a developer of eVTOL (electric vertical takeoff and landing) aircraft, raised nearly RMB 1 billion in a Series C+ round. The financing was led by China Life Investment, with participation from Minjin Investment, Nio Capital, CoStone Capital, and existing shareholder China Internet Investment Fund (CIIF).</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@rwegrgdf5.eu.org">hello@rwegrgdf5.eu.org</a>.
Note: RMB, SGD figures are converted to USD at rates of RMB 6.79 = USD 1 and SGD 1.29 = USD 1 based on estimates as of June 9, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Deals in brief: Handshake Finance, Clear Robotics raise funding; VoidZero joins Cloudflare; GIC invests in Supabase and Ramp; and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Thailand

South Korea

New Zealand

Southeast Asia

Europe

Oceania

Shi Xiaoxin, senior director of product planning at <a href="/company/xpeng">Xpeng’s</a> robotics arm, left the company earlier this month, according to 36Kr.
Shi spent more than four years at Xpeng’s <a href="/industry/robotics">robotics</a> business, a period that covered the integration of Pengxing Intelligence, the team’s incorporation into Xpeng, and the full development cycle of the Iron humanoid robot, from prototype iteration to production preparation. He was one of the early figures involved in building Xpeng’s humanoid product system from the ground up.
Shi holds a bachelor’s degree in computer science from Nanjing University and a master’s degree in information technology from the University of Technology Sydney. Earlier in his career, he worked overseas in commercial service robotics and oversaw Aldebaran’s Nao robot as Asia-Pacific technical lead. He led several robotics deployment projects at major international technology exhibitions and was among China’s early specialists in humanoid interaction and product implementation.
Around 2021, Shi joined Xpeng’s robotics business. In 2023, after Xpeng completed its acquisition of Pengxing Intelligence and formally committed to developing the Iron humanoid robot, Shi became the product lead responsible for defining the full Iron product line and deploying Iron as an in-store guide.
Public information shows Shi remained active in the field as recently as May, when he spoke as a guest lecturer at ShanghaiTech University about Xpeng’s approach to mass production design for humanoid robots. His departure one month later came as the company prepared for Iron’s next production phase.
Xpeng has not officially announced any personnel change. The timing is notable because 2026 is expected to be a decisive year for Iron’s production rollout. Xpeng chairman He Xiaopeng has said the next-generation Iron robot will be unveiled in the fourth quarter, with scaled production by year’s end and commercial deliveries in China and overseas in 2027. In the first quarter of this year, Xpeng began building a full-chain humanoid robot production base in Guangzhou.
Shi’s next move is unclear. Multiple sources said he is not currently looking for a job. One person familiar with the matter said Shi has turned down offers from several leading robotics companies and new energy vehicle makers, and plans to take a short break before deciding on his next role.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3839560961116417">article</a> was written by Chen Tong and Fang Tingyu for 36Kr.

Xpeng loses product lead before Iron robot enters critical phase

Xpeng Motors

Robotics

Deep Tech

Embodied Intelligence

… data-tmfx-note="1">Note: RMB figures are converted to USD at rates of RMB 6.79 = USD 1 based on estimates as of June 9, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

WeChat opens the door to phone-based AI agents, on its own terms

WeChat

Artificial Intelligence

… enterprise customers are shifting toward long-term supply chain partnerships. Both trends create more conditions for sustainable profitability.
This <a href="https://xueqiu.com/2854806290/393502109">article</a> was adapted based on a feature originally written by Robin 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 6.79 = USD 1 based on estimates as of June 9, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Longsys targets edge AI storage in Hong Kong dual listing push

AI Infrastructure

Hong Kong

… Jordan. Jordan Brand revenue rose from about USD 2.8 billion in 2018 to around USD 7 billion in 2024, accounting for 13.6% of Nike’s revenue. It has effectively become an independent brand inside Nike. No sportswear company has replicated that model, including Nike itself.
The second barrier is that basketball’s return profile has changed. Even if a Jordan-like star emerged today, recreating Jordan Brand’s trajectory would be difficult in a slower category. Li-Ning must figure out how to turn Curry and his portable independent brand into a growth engine rather than an expensive marketing line item.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3836116289877385">article</a> was written by He Zhexin for 36Kr.
Note: RMB figures are converted to USD at rates of RMB 6.79 = USD 1 based on estimates as of June 9, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

Why Curry Brand chose Li-Ning over Anta

… director Liu Yu and valued at USD 1.3 billion, sources told 36Kr.
<h3>Doubao turns toward monetization and overseas growth</h3>
Doubao’s commercialization is the fourth priority. 36Kr previously reported that Doubao is expected to <a href="https://rwegrgdf5.eu.org/doubao-prepares-paid-subscriptions-as-bytedance-seeks-ai-returns">launch paid subscription plans</a> in late June and connect with Douyin E-commerce to expand monetization.
In early May, Doubao updated subscription options in the app store, with monthly plans ranging from free to RMB 500 (USD 73.6). On June 3, Doubao announced an upcoming professional version for workplace productivity needs, including software development, data analysis, design, workflow automation, financial analysis, and scientific research.
Several sources told 36Kr that Doubao had surpassed 200 million DAUs after the Lunar New Year. One source said Doubao’s user acquisition budget is now low, while high DAU has brought heavy inference and operating costs. Monetization at this stage is meant both to slow the pace of growth and help the product generate its own cash flow.
whereRelatedArticle
Slide deck generation is viewed as the main entry point for paid user behavior. One person close to Doubao said the company wants to strengthen slide deck generation to build revenue from white-collar professionals in sectors such as finance and law. Doubao also plans to launch an enterprise version and connect with internal company systems, though the exact integration model is still under discussion.
The idea reflects similar trends overseas. Anthropic disclosed that Claude Code <a href="https://www.anthropic.com/news/anthropic-raises-30-billion-series-g-funding-380-billion-post-money-valuation">reached USD 2.5 billion in annualized recurring revenue (ARR)</a> in February, more than double its level at the start of the year. Cash flow from enterprise development use cases reportedly helped Anthropic surpass OpenAI in ARR earlier this year, despite Anthropic being founded later.
Doubao’s challenge is to reposition itself from a free general-purpose chatbot into a paid office assistant that improves productivity. But the market it wants to enter is already crowded. A Doubao source said ByteDance found through its research that many solution providers already occupy the enterprise AI tool market, meaning a late-arriving Doubao will face higher acquisition costs.
Overseas expansion is also a key task this year. <a href="https://www.jiemian.com/article/13832319.html">Jiemian News</a> previously reported that Dola, Doubao’s overseas app, surpassed ten million DAUs by the end of 2025. According to 36Kr, Dola’s 2026 target is 30 million DAUs by year’s end. With overseas AI chatbots largely dominated by ChatGPT, Claude, and Gemini, Dola’s strategy is said to focus on more niche markets rather than regions like Europe and the US, where competition is tighter.
KrASIA features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3838454229027072">article</a> was written by Zhou Xinyu for 36Kr.
Note: RMB figures are converted to USD at rates of RMB 6.79 = USD 1 based on estimates as of June 9, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.

ByteDance sets four AI priorities for 2026

Doubao

Foundation and Large Models