China Technology: CBO – China Brief Overnight – June 29, 2026

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China Technology: CBO – China Brief Overnight – June 29, 2026

Equity Research

China Technology

29 June 2026

CBO – China Brief Overnight – June

29, 2026

Baidu’s Kunlunxin unit targets IPO in Hong Kong with China Technology

valuation of $50bn; Tencent is testing an app as a one-stop POSITIVE

digital services platform for overseas visitors; DeepSeek China Technology

Jiong Shao, CFA

unveils major upgrade to flagship V4 model aimed at +1 212 526 5562

accelerating AI response generation. jiong.shao@barclays.com

BCI, US

Lian Xiu (Roger) Duan

+1 212 526 4633

Our daily product rounds up key stories from the Chinese language media overnight, focusing lianxiu.duan@barclays.com

on developments in the technology space. BCI, US

Xinyao Song

See our latest research on Barclays Live. +1 212 526 6972

xinyao.song@barclays.com

June 29, 2026 BCI, US

Government/Industry News

•• Beijing market regulator meets with online platforms over merchant profitability:

According to a statement by the Beijing city market regulator, Beijing officials have held talks

with food delivery platform companies to curb excessive competition and improve

profitability for restaurant merchants. Executives from Meituan, Taobao Instant Commerce,

and JD.com’s food delivery unit are among those who attended the meeting. The participants

exchanged views about ways to reduce costs and improve profitability, including optimizing

subsidies, lowering fees, prompting rational marketing, strengthening merchant support and

standardizing delivery management.

•• CATL and other battery manufacturers pledge compliance with supplier payment

initiative: According to IT Home, CATL, BYD, CALB and other battery manufacturers have

endorsed an industry initiative on standardizing supplier payment practices to support a fair