Jaime Xiao: Hefei’s scavenger model and CXMT’s 471% IPO

Jaime Xiao on Hefei — the city that turned other people’s rubbish bins into a RMB 3.3 trillion memory empire. CXMT’s STAR Market debut opened up 471.6%, past ICBC to top the A-share table. But the real story is seventeen years of buying distressed assets at scrap value: BOE in 2008, Qimonda’s abandoned DRAM patents … Read more

ByteDance’s Doubao Phone 2 Returns, Knocking Instead of Breaking In

In July 2026, the Nubia NaviX Ultra drew a crowd at the World Artificial Intelligence Conference in Shanghai. The phone has a plainer name: the Doubao Phone 2. Eight months earlier, the first Doubao Phone sold 30,000 units at 3,499 yuan and briefly resold for nearly 8,000 on the second-hand market, until the frenzy lasted … Read more