The Daily Roundup - April 28, 2026

China’s business and tech day on April 28 was shaped by three closely watched developments: a regulatory move against Meta’s Manus deal, a major share placement by CATL, and a sharp earnings drop at BYD.

China ordered the reversal of Meta Platforms’ acquisition of the AI startup Manus, according to Caixin and earlier Bloomberg reporting. The move effectively blocks the deal and requires the parties to unwind it after a foreign investment review.

At the same time, CATL disclosed a Hong Kong share placement under its general mandate. HKEX’s title search shows the company’s announcement of a placing of new H shares, while market reporting says the deal targets about HK$39.1 billion in net proceeds, or roughly $5 billion.

BYD added another signal of pressure in China’s electric-vehicle market. Reuters reported that the company’s first-quarter 2026 net profit fell 55.4% year over year to about 4.1 billion yuan, while revenue dropped 11.8% to about 150.2 billion yuan.

Together, the three stories point to a day of heightened activity in China’s technology, EV and capital-markets sectors. The Manus decision underscores tougher scrutiny of cross-border tech deals, while CATL’s fundraising and BYD’s results highlight the scale of capital needs and margin pressure in the domestic auto and battery space.

The immediate takeaway is that the China market is still moving quickly on multiple fronts: policy risk, financing and earnings all remain in play.

This roundup will be updated if any of the announced transactions or regulatory actions produce further material developments.