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CATL-owned Wending Investment, Guoxin Micro subsidiary Tongxin Micro and five affiliates have agreed to establish Tongxin Micro Technology with a registered capital of 300 million yuan (US$43 million), according to a Thursday filing to the Shenzhen Stock Exchange.With its 153 million yuan investment, Tongxin Micro holds a controlling 51 per cent stake in the new firm, while Wending Investment’s 15 million yuan outlay gave it a 5 per cent shareholding, according to the filing.Four employee stock platforms under state-owned Tsinghua Unigroup have a combined 24 per cent stake.The newly formed entity was set to acquire the automotive domain controller chip…

Images of a cargo ship in Shanghai carrying containerised vertical launchers, sensors and self-defence systems have spread online and prompted discussion for apparently showing China’s capacity to convert civilian cargo vessels to military purposes.The circulated images show vertical launch systems, rotary phased-array radars, over-the-horizon radars, close-in weapon systems and decoy launchers mounted atop containers on a cargo vessel.This configuration appears to be a temporary installation, seemingly aimed at converting the merchant vessel into a heavily armed surface combatant. 01:29China’s first 076 ‘drone carrier’ amphibious assault ship begins sea trialsChina’s first 076 ‘drone carrier’ amphibious assault ship begins sea trialsWhile the…

India, the world’s largest rice exporter, could see its shipments to the US become more expensive if President Donald Trump follows through on a threat to impose higher tariffs after accusing the country of dumping rice.Industry executives said the move was unlikely to significantly dent export volumes, but warned of potential wider repercussions, including pressure on prices in other markets, efforts by importers to divert shipments and renewed strain in trade talks where agriculture and dairy imports risk triggering a backlash from Indian farmers.Trump said earlier this month that more tariffs could be imposed on Indian rice after alleging that…

KYIV, Ukraine (AP) — Several key issues remain unresolved in ongoing negotiations between Ukraine and the United States over a potential framework to end Russia’s war, Ukrainian President Volodymyr Zelenskyy said last week. Speaking about a 20-point plan under discussion, Zelenskyy outlined the most difficult points, noting that Ukraine has already conveyed its position to Washington, which is expected to communicate it to Moscow.Kremlin spokesman Dmitry Peskov told reporters on Friday that the Kremlin had already been in contact with U.S. representatives since Russian presidential envoy Kirill Dmitriev recently met with U.S. envoys in Florida. However, he did not reveal…

China has opened a new shopping centre on Woody Island in the disputed Paracel Islands, bolstering its civilian presence on the strategically vital South China Sea outpost.The Sansha City Commercial Centre opened to business on Thursday, according to the local government. The over 6,000 square metre (64,600 sq ft) complex is the latest addition to China’s civilian infrastructure on what it calls Yongxing Island, following its first hardware store last year and a hotpot restaurant in 2023.Woody Island lies within the Paracel Islands – an archipelago known as the Xisha Islands in Chinese that is at the centre of overlapping…

China’s private rocket makers are stepping up their dash for public funding, with Beijing-based LandSpace becoming the first commercial launch provider to clear a key regulatory “tutoring” milestone ahead of a planned listing on Shanghai’s Nasdaq-style Star Market.LandSpace completed its initial public offering (IPO) tutoring process on December 23, according to information published on the website of the China Securities Regulatory Commission (CSRC) – a step that typically precedes the submission of a formal listing application.The company is positioning itself as a domestic contender in reusable launch technology, a field dominated by SpaceX.Investor interest in the sector has also been…

Beijing on Friday imposed sanctions against 20 US defence firms and 10 industry executives in response to Washington’s massive arms sales package to Taiwan last week.Beijing’s foreign ministry said that these companies and executives had been sanctioned for their role in arming the island and pledged to continue with “resolute and forceful measures to steadfastly defend national sovereignty, security, and territorial integrity”.“Anyone who attempts to cross the line and make provocations on the Taiwan question will be met with China’s firm response. Any company or individual who engages in arms sales to Taiwan will pay the price for the wrongdoing,”…

More than 80% of ’disappeared medicines’ are back in production and in retail markets in the past 22 months in Pakistan, overcoming a drug shortage crisis that had plagued the country, Pakistan Pharmaceutical Manufacturers Association (PPMA) told Business Recorder. Patient access to medicines has increased to a new high in recent times, the association said. Around 200 medicines had gone out of production some two years ago after their cost of production surpassed their retail prices in the country, causing huge shortages and an uproar by patients and medical professionals alike. The drugs included life-saving ones that were used to…

Dewan Farooque Motors Limited (DFML) has appointed Ghazanfar Baber Siddiqi as Chairman of the Board of Directors and Waseem-ul-Haque Ansari as Chief Executive Officer (CEO), effective Friday, December 26, 2025. The listed auto assembler disclosed the development in a notice to the Pakistan Stock Exchange (PSX) today. According to information available on DFML’s website, Waseem ul Haque is a graduate mechanical engineer from NED University, having   a diversified experience of more than 28 years in the automobile industry and presently serving as Chief Operating Officer in Dewan Farooque Motors Limited In his current role, Haque was responsible for the overall…

China has unveiled plans to tighten controls over e-cigarette production and investment to address concerns over fierce intra-industry competition and excess capacity, the latest step in the country’s broader effort to enhance its regulatory power over tobacco, a sector which enjoys a functional monopoly.The draft policy, released by the national tobacco regulator on Thursday, follows a State Council opinion issued earlier this month which placed e-cigarettes and nicotine pouches under stiffer oversight.As the e-cigarette industry grapples with challenges – including the slow exit of outdated capacity, structural imbalances and poor compliance with export rules – the new regulation specifically names…