During the year, 9 listed companies planned to issue GDR overseas, and the first batch of "zhongruitong" will be launched as soon as possible or in July

Chinese Restaurant Brands Going Global: What Keeps Customers Coming Back After the Opening?

How long can the queues outside a brand’s first overseas store last? And how many customers drawn in by the novelty will become regulars? For Chinese restaurant brands expanding internationally, opening a store is only the beginning of the challenge of building a local business and retaining customers.

Haitian Acquires Hong Kong’s Amoy Food to Add an Established Overseas Platform

Foshan Haitian Flavouring and Food（海天味业）has completed the acquisition of all equity interests in Amoy Food Limited（淘大）, the Hong Kong food brand founded in 1908. The deal gives China’s leading condiment producer an established international brand and sales network, rather than requiring it to build overseas distribution market by market.

Kaiying Network Plans Indirect Wemade Stake Through US$298 Million Investment

Kaiying Network（恺英网络）plans to invest an estimated USD 298 million to acquire a 49% interest in an offshore vehicle connected to the proposed takeover of Wemade Co., Ltd., the South Korean game developer and original rights holder of the Legend of Mir IP. If completed, the transaction would give the Chinese publisher an indirect economic interest of about 19.7% in Wemade, based on the buyer vehicle’s planned 40.25% holding.

Zhipu AI Launches US$5 Billion Financing to Fund Next-Generation Models and Computing Infrastructure

Chinese foundation-model developer Zhipu AI（智谱）, listed in Hong Kong as Z.AI, has launched approximately US$5 billion in financing through a share placement and convertible bond offering. The transaction would substantially expand its funding for model development and computing infrastructure, highlighting the role of Hong Kong’s capital markets in financing China’s AI industry.

CATL and Egypt’s BME Sign Battery Manufacturing Deal with Initial Capacity of 1 GWh

CATL（宁德时代）and Egyptian battery manufacturer BME signed a contract on September 13 to establish a battery manufacturing plant in Egypt, with initial investment exceeding EGP 2 billion and planned annual capacity of 1 GWh. The project will initially produce battery systems for heavy commercial vehicles, creating a local manufacturing base intended to serve Egyptian and export markets.