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Moore Threads’ first post-IPO half-year report shows revenue rising 147% to RMB 1.736 billion, while attributable losses narrowed sharply. However, the improvement relies heavily on concentrated cloud-computing sales, government subsidies, investment gains, and IPO-funded cash reserves rather than a clear recovery in core operations.
SMIC reported its first $3 billion quarter, with revenue rising 36.1% year over year and net profit nearly tripling to $479.2 million. The Chinese foundry is also raising wafer prices as US sanctions strengthen demand from China’s captive AI market.
Baidu’s AI-related revenue remained around half of general business revenue in the second quarter, but fell to 125 billion yuan from 136 billion yuan in the prior quarter. The company’s AI portfolio spans cloud infrastructure, applications, search, Kunlunxin chips, and Apollo, yet model competitiveness, monetization, and growth remain unresolved.
AI-generated microdramas accounted for 27.5 million of the 36.7 million microdramas launched nationwide in China during the first half of the year, or 75%. The rapid expansion has triggered criticism from viewers who argue that the content feels repetitive and low quality.
IDC has named 360 to its 2026 China AI 50 list, recognizing the company’s full-stack strategy in enterprise AI agents and AI security. The recognition positions 360 as a representative player in China’s AI industry.