Search results for "2025"
2026-04-25
05:02

Chinese Robovan Operator Zelos Eyes $600M Hong Kong IPO

Gate News message, April 23 — Chinese autonomous delivery truck operator Zelos Technology is planning a Hong Kong IPO expected to raise approximately $600 million, according to Bloomberg. The company is in talks with banks; the size and timing of the offering could still change. Founded in 2021, Zelos operates more than 25,000 autonomous vehicles across China and has expanded into Singapore, the United Arab Emirates, and other parts of Southeast Asia and the Middle East. Alibaba's logistics unit Cainiao became a shareholder earlier this year and integrated its unmanned vehicle unit into Zelos through a cash and asset injection in early 2026, expanding the fleet from 2,000 vehicles in 2024 to more than 20,000. Zelos now operates under two brands: its own name for technology products and the licensed "Cainiao Autonomous Vehicle" brand for certain logistics and enterprise customers. The company claims it can reduce last-mile delivery costs by approximately 50% and expects to break even, including R&D expenses, once its fleet reaches about 50,000 vehicles. Management says it expects to deliver more than 1,000 vehicles overseas by the end of 2025.
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03:32

Fiuu Launches Apple Tap to Pay on iPhone in Malaysia

Fiuu launches Apple Tap to Pay on iPhone in Malaysia, turning iPhones into payment terminals for in-person contactless payments, boosting payments across 8 markets and 110 methods, with Singapore rollout and expansion plans. Abstract: Fiuu, Malaysia's leading payment gateway formerly known as Razer Merchant Services, has introduced Apple Tap to Pay on iPhone, enabling merchants to accept contactless payments without separate card readers. The rollout covers eight markets with support for over 110 payment methods, following a Singapore launch in December 2025. The company plans to expand direct acquiring for JCB and UnionPay and extend Visa installment options to Singapore, positioning iPhone-based terminals to compete with traditional readers and platforms like HitPay, and enabling payments outside fixed checkout locations to reduce costs for pop-ups and deliveries.
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