Amid fast-paced changes that fill the business community with excitement, angst and trepidation, EqualOcean will publish a series of roundup articles to document the major events related to Chinese companies going global every week.
Overview
MOFCOM: China’s outbound investment stock surpasses USD 3 trillion;
Q2 2025 Chinese smartphone brands accelerate global expansion;
HiTHIUM Energy Storage: global shipments exceed 100 GWh, global ranking rises to No. 2;
JD Property plans to establish a REIT of over USD 1 billion in Singapore;
Temu resumes direct shipping from China to the U.S.;
NVIDIA earnings: Q2 revenue USD 46.7 billion, may export stronger chips to China;
Huawei launches AI-dedicated SSD product line and co-founds an innovation alliance;
BYD to build a CKD plant in Malaysia;
Q2 2025 NVIDIA Jetson AGX Thor robot chip released;
Singapore likely to become a global hub for Chinese autonomous driving companies;
Mixue Bingcheng H1 revenue up 39.3%, store count surpasses 53,000;
Didi Q2 core platform GTV exceeds CNY 109.6 billion, international business up 27.7% YoY.
Event Highlights & Commentary
1. China’s Outbound Investment Stock Exceeds USD 3 Trillion
On August 26, 2025, China’s Ministry of Commerce announced that the country’s outbound investment stock exceeded USD 3 trillion by the end of 2024, accounting for 7.2% of global outbound investment and ranking top three worldwide for eight consecutive years. Chinese companies have established over 50,000 enterprises in 190 countries and regions, spanning sectors such as energy, manufacturing, finance, and technology. Since 2012, China’s outbound investment flows have consistently ranked among the world’s top three for 13 straight years, underscoring its growing influence in the global capital market.
This milestone highlights the deepening globalization of Chinese capital and the increasing role of Chinese firms in stabilizing global supply and value chains. The focus of outbound investment is shifting toward high-value industries, including renewable energy, advanced manufacturing, and cutting-edge technologies. Strategically, China’s overseas expansion is becoming more proactive, with Southeast Asia, Belt and Road countries, and emerging markets like Latin America expected to become key destinations for future growth.
2. Chinese Smartphone Brands Accelerate Global Expansion in Q2 2025
According to a report released by Canalys on August 22, 2025, Chinese smartphone brands continued to accelerate global expansion in Q2, achieving notable breakthroughs in Southeast Asia, Africa, and Latin America. Xiaomi shipped 42.4 million units globally, up 12% YoY, maintaining its position as the world’s No.3 smartphone brand. Transsion Holdings, benefiting from robust growth in Africa, South Asia, and Southeast Asia, shipped 24.6 million units, entering the global top five for the first time, with a 51% market share in Africa.
In Southeast Asia, Xiaomi reclaimed the No.1 spot with 4.7 million units shipped and a 19% market share, while Transsion followed closely with 4.5 million units and 18% share, marking 17% YoY growth. Vivo and OPPO also maintained solid growth by strengthening localized marketing and expanding offline networks across Indonesia, Thailand, and Vietnam.
Canalys highlighted that Chinese brands’ global competitiveness stems from flexible pricing, extensive product portfolios, strong supply chains, and innovations such as AI-powered photography and foldable phones. Despite Samsung and Apple’s dominance in premium markets, Chinese brands are consolidating their foothold in emerging economies.
3. JD Property Plans Over USD 1B REIT in Singapore
According to Reuters, JD Property is partnering with Partners Group and EZA Hill Property to set up a USD 1B+ REIT in Singapore, potentially listing on the SGX as early as 2026. The trio previously acquired four logistics assets from Ascendas REIT for SGD 306 million, which are expected to seed the portfolio. Over the past three years, JD Property has advanced 50+ projects across nine countries and collaborated with sovereign wealth funds such as GIC and Mubadala. Strategically, the REIT structure enables asset-light expansion of Chinese capital in Southeast Asia’s logistics/industrial real estate, strengthens warehouse–distribution networks for Chinese manufacturing and cross-border e-commerce, and leverages Singapore’s mature capital market for better asset rotation and global investor access. For Chinese firms going global, owning regional hub logistics as yielding infrastructure creates a powerful industry + finance playbook.
4. Temu Resumes Direct Shipments From China to U.S. Consumers
The Financial Times reports that Temu reinstated its all-inclusive direct-shipping model from China to the U.S. in July, with the platform handling logistics and customs clearance, and has restored U.S. ad spending to Q1 levels. After tariff pressures in May, Temu pivoted to local suppliers. A temporary tariff truce reduced surcharges for 90 days and has been extended, but the U.S. will abolish the de minimis rule on Aug 29, subjecting all low-value parcels to duties. Temu is emulating Shein’s approach by building in-house logistics and U.S. entities to mitigate customs risks. For Chinese sellers, direct shipments help recover volumes, yet margins face pressure from taxes and pricing, pushing platforms toward localization of supply chains, stronger compliance infrastructure, and brand-driven growth—a new equilibrium of low price + deep compliance.
5. BYD to Build Local Assembly Plant in Malaysia
BYD, together with Sime Darby Motors, will invest in a CKD assembly plant in Tanjung Malim, Perak (≈600,000 sqm), targeting 2026 for SOP. The launch of the BYD SEAL and opening of the country’s largest 3S center round out a “triple milestone.” Localization will lower costs, improve affordability, and deepen talent, supply chain, and service capabilities. Strategically, Malaysia—along with Thailand and Indonesia—forms BYD’s Southeast Asian hub triangle, leveraging RCEP and bilateral cooperation. For Malaysia, CKD drives parts localization, jobs, and EV adoption.
6. Didi’s Q2 Core Platform GTV Surpasses CNY 109.6 Billion; International Business Up 27.7%
On August 28, Didi released its Q2 2025 financial results on its official website. After surpassing the CNY 100 billion transaction milestone, the company continued to deliver double-digit growth across both domestic and international businesses. In the second quarter, Didi’s core platform Gross Transaction Value (GTV) reached CNY 109.6 billion, representing a 15.9% YoY increase at a constant exchange rate, while total orders rose 15.2% YoY to 4.464 billion. Among them, China mobility orders grew 12.4% YoY to an average of 37.1 million orders per day, while international business orders surged 24.9% YoY, reaching a record 11.96 million daily orders. For the quarter, Didi achieved an adjusted net profit of CNY 3.1 billion.