Aug 19, 2024 02:24 PM

Tech Roundup: Chinese Chip-Gear Maker Sues Pentagon, Ant Group in Talks to Buy Online Health Care Platform

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Chinese chip-gear maker Advanced Micro-Fabrication Equipment Inc. has accused the U.S. government of harming its business and reputation. Photo: VCG

Welcome to the Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia.

Chinese chip-gear maker sues Pentagon to get off blacklist

One of China’s most prominent chip-equipment makers is suing the Pentagon for linking it to the People’s Liberation Army, seeking its removal from a blacklist that bars business with American firms.

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AMEC is suing the Pentagon to remove it from a blacklist affecting its business.
Ant Group is negotiating to acquire Chinese online health platform HaoDF.
Alibaba's new stock link in Hong Kong may bring a $20 billion inflow by next year.

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Who’s Who

Advanced Micro-Fabrication Equipment Inc. (AMEC): Advanced Micro-Fabrication Equipment Inc. (AMEC) is a prominent Chinese chip-equipment maker suing the Pentagon to be removed from a blacklist that bars it from doing business with American firms. The company claims its inclusion on the Section 1260H list, due to alleged links to China’s military, has harmed its business and reputation. AMEC's lawsuit points to an award from China’s Ministry of Industry and Information Technology as the Pentagon's justification for the decision.

Ant Group Co. Ltd.: Ant Group Co. Ltd., backed by Alibaba Group, is negotiating to buy Haodf.com, a platform for online medical consultations. This move aims to enhance Ant Group's presence in the online healthcare sector. Currently, Haodf's services are integrated into Alipay's health section. Both companies have stated that official information will be released later.

Alibaba Group Holding Ltd.: Alibaba Group Holding Ltd. is planning an upgrade to a primary listing in Hong Kong, potentially realized by the end of the month. This anticipated listing could bring about $20 billion in inflows, aiding the company’s stock, which has underperformed against Tencent Holdings Ltd. due to competition and sluggish Chinese consumption.

TuSimple Holdings Inc.: TuSimple Holdings Inc., a California-based startup with Chinese ties, is branching into video game and movie production to monetize its generative AI capabilities. They announced a partnership with a Shanghai company to develop an animated film and video game based on "The Three-Body Problem." Despite these ventures, CEO Lu Cheng emphasized that TuSimple remains committed to its self-driving trucking tech, focusing on technology partnerships and licensing for revenue.

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What Happened When

Wednesday, 2024-08-14：: TuSimple Holdings Inc. announced a collaboration with a Shanghai company to develop an animated film and video game based on the science fiction novel series 'The Three-Body Problem' using its generative AI technology.

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