Growth Dragons Weekly: Helicopter Hidden in EV, Tencent Blacklisted, Honor's IPO Buzz
What happened in China this week:
China Companies Showcase Leading Innovations at CES 2025
Tencent, CATL, and More Chinese Companies Named in U.S. Defense Blacklist
Popular Smartphone Brand Honor Preparing for IPO
China’s Consumption Showing Signs of Improvement
#1 China Companies Showcase Leading Innovations at CES 2025
CES (Consumer Electronics Show) 2025, the world’s premier tech event, has kicked off in Las Vegas, Nevada, USA. This global exhibition serves as a platform where companies unveil groundbreaking innovations that shape the future of technology and consumer experiences.
This year, over 1,300 Chinese companies are participating, including 1,212 from mainland China and 98 from Hong Kong. These companies make up more than a quarter of the 4,500 registered exhibitors, solidifying China’s position as the largest foreign participant. The significant presence of Chinese firms underscores the nation’s growing dominance in technological innovation and its drive to compete with the U.S. on the global stage. Here are some of the most eye-catching innovations showcased by Chinese companies:
Xpeng AeroHT: A Helicopter Hidden in an EV
Xpeng stunned audiences with its AeroHT model—a flying car concept that effectively integrates a helicopter into an electric vehicle. Unlike many concept cars or prototypes, Xpeng is actively pursuing regulatory approval for this groundbreaking innovation, hinting that the future of flying vehicles may be closer than we think. This showcase highlights China's growing focus on the low-altitude economy, with strong government support driving the development and adoption of aerial mobility solutions.
TCL E-Ink Phone: The Best of Both Screens
Do you love reading on e-ink devices like a Kindle but wish your phone could do the same? TCL has made it possible with the TCL 60, a smartphone that lets users toggle between a regular colored display and an e-ink screen with the press of a button. This budget-friendly innovation, priced at just a few hundred dollars, is set to hit the market in late 2025, combining affordability and functionality for avid readers and multitaskers.
Lenovo Rollover Laptop: Portable Big Screen Innovation
Finding yourself more productive with a bigger screen but tired of carrying around an external monitor? Lenovo has the solution. Its new Rollover Laptop features a 14-inch display that can expand to a 16-inch screen with a simple mechanism, providing extra screen real estate on the go. Available in March 2025 for $3,500, this laptop redefines portability and productivity. Notably, the technology builds on China’s pioneering screen advancements, as Royole first introduced foldable screens back in 2012. Lenovo’s rollable design showcases China’s continued leadership in screen innovation.
Despite the impressive turnout, some major Chinese tech firms, including ByteDance, Baidu, Huawei Technologies, and DJI, were notably absent this year due to ongoing U.S.-China tech tensions.
Chinese companies have demonstrated resilience and innovation at CES 2025, unveiling technologies that are both practical and futuristic. Despite geopolitical challenges, China’s contributions to the global tech landscape remain significant, reinforcing its status as a key player in shaping the future of technology.
#2 Tencent, CATL, and More Chinese Companies Named in U.S. Defense Blacklist
The U.S. has recently expanded its list of "Chinese military companies," targeting major firms such as Tencent and CATL. The list now includes 134 companies collectively valued at nearly $1 trillion. This move is expected to discourage U.S. engagement and poses significant risks to global supply chains. Among the most prominent names is Tencent, China’s largest publicly traded company by market capitalization, which saw its share price plunge more than 7% following the announcement.
The relationship between Tencent and the Chinese military remains unclear, as the U.S. Department of Defense has not provided specific details regarding its inclusion on the list. Analysts speculate this could be a retaliatory measure following Beijing’s placement of American firms on its Unreliable Entity List and the recent tightening of technology export controls.
The implications for Tencent are potentially severe. The company’s global gaming empire, which includes stakes in numerous foreign gaming studios, could face significant disruptions. To comply with potential restrictions, Tencent may be forced to divest some of these holdings, further severing ties with foreign markets. We’ve explored this issue in detail in our latest video:
A similar case involves WuXi Biologics, another major Chinese firm affected by U.S. scrutiny. The company was named in the draft U.S. Biosecure Act, which seeks to limit federal contracts with specific Chinese biotechnology firms. WuXi recently sold its vaccine manufacturing facility in Dundalk, Ireland, to U.S.-based Merck & Co. for $500 million, a move reflecting the escalating geopolitical risks impacting global biotech and technology sectors.