Key Takeaways:
- The recent contraction in China’s overheated new energy vehicle market points to an unavoidable wave of industry consolidation and brand alliances
- A fast-growing online dating company’s upcoming Hong Kong IPO relies on thousands of human facilitators, bucking the global trend of AI-driven matchmaking
image credit: Bamboo Works
We’re currently witnessing two fascinating shifts in China’s corporate landscape — one involving an overdue pause in a booming tech-driven sector, and the other a surprising rejection of modern technology in favor of traditional methods. On one hand, the country’s skyrocketing new energy vehicle (NEV) market has suddenly tapped the brakes, forcing a hard look at a needed industry consolidation. On the other hand, a rising star in the online dating world is actively bucking the global AI trend, opting instead for real-life human matchmakers.
We’ll start with the NEV sector, which has been all the rage among Chinese consumers but has hit a sudden speed bump this year. According to the China Passenger Car Association, NEV sales plunged 21% in March. That followed an even weaker start to the year, resulting in a 24% drop in the first quarter. While NEVs still accounted for nearly half of all vehicle sales during the quarter — as traditional internal combustion engine cars also fell sharply — the sudden spin into reverse is impossible to ignore.
We believe this pullback isn’t a massive shock. By the end of 2025, at least 50% of all new sales were NEVs. Overall adoption and sales growth have been extraordinary, and it shouldn’t be surprising that the …
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