Latest news with #XuChi
South China Morning Post
21-05-2025
- Business
- South China Morning Post
‘What if AI had eyes': meet Chinese firm Xreal, Google's partner in AR glasses project
Chinese augmented reality (AR) firm Xreal is back in the spotlight via a partnership with Google to create the first eyewear powered by the US tech giant's Android XR operating system, intensifying competition in the nascent market for spectacles supported by artificial intelligence (AI) technology. The start-up 's venture with Google, dubbed Project Aura, was among the key announcements made on Tuesday at the opening of the US internet search company's annual I/O developer conference, which concluded on Wednesday. Project Aura – with the tagline 'what if AI had eyes' – features a pair of lightweight, tethered Xreal AR glasses powered by Qualcomm 's Snapdragon processor. The smart glasses will offer a dual-mode augmented reality experience; optical see-through, which is a direct overlay of digital content onto a real-world view; and virtual see-through, which blends camera-captured images with digital elements, according to Google and Xreal. Without providing more details, Xreal founder and chief executive Xu Chi said the new AR glasses are expected to hit the consumer market later in 2025 or early next year, according to his interview with Bloomberg.
South China Morning Post
10-04-2025
- Business
- South China Morning Post
Chinese firms set aside US$2.7 billion for stock buy-backs as Trump's tariffs roil markets
China's publicly listed companies have unveiled at least 20 billion yuan (US$2.73 billion) in buy-backs this week, as they set aside resources to prop up their own stock during a global meltdown in equity markets triggered by US President Donald Trump's tariff war. Advertisement More than 100 companies have announced buy-backs, including China's state oil company PetroChina , the world's largest appliance maker and Midea Group . Electric vehicle battery producer Contemporary Amperex Technology or CATL, which is said to be seeking about US$5 billion in an initial public offering (IPO) in Hong Kong this quarter, has set aside as much as 8 billion yuan to support its shares, according to filings. These 100 companies are joining several deep-pocketed state funds under the umbrella of the nation's US$1.3 trillion sovereign wealth fund, as they buy back shares and increase their stakes to prop up prices and prevent a meltdown in the US$10 trillion onshore stock market. China's central bank said this week that it would put its financial muscle and relending facilities behind the government's buy-backs. China Chengtong Holdings Group and China Reform Holdings Corp. said they had allocated 100 billion yuan from the 1.63 trillion yuan of state-owned capital to buy stocks. Traders on the floor of the New York Stock Exchange on April 09, 2025. via Agence France-Presse. These buy-backs 'can be effective in containing the spread of panic and reducing the stampede in the market,' said Xu Chi, an analyst at Zhongtai Securities in Shanghai. 'Besides curbing short-term volatility, [the biggest] listed companies are also sending a message of confidence in their future earnings to quell any panic [about] their businesses.' Advertisement
