The newsletter covers China’s technology industry three essays at a time. A report puts a year of that coverage on one sector into a single document that stands on its own. Each report runs about 10,000 words plus data tables, ships as a PDF, carries an edition year and a data cutoff date, and is updated annually. The plan is one new report a month through early 2027; the first four are listed below.
Every report has the same four parts after the analysis:
Scorecard. My earlier calls on the sector, graded against public documents, including the ones I got wrong and the assumption behind each.
Watchlist. Dated checkpoints that would change the judgment, so you can check the report against events as they arrive.
Data appendix. Each figure with its source and a source level. Where sources disagree, both are shown.
Free sample. The Executive Summary and one full chapter, open to everyone.
Pricing
Anyone: $99 per report.
Annual paid subscribers and team subscription members: $49 per report. I send the code by email.
Founding members: one report each quarter at no cost, chosen by me.
Institutional clients: every report, delivered on launch day.
Each PDF carries the buyer’s email address on every page. Payment and delivery run through Payhip; the file arrives by email within a minute of purchase.
Available now
Who Pays While China’s Robots Learn: China’s Embodied AI Industry, 2026 Edition
China’s robot companies earn their money from research labs, safety work and stage shows. Their valuations assume something else. This report shows who pays for the gap, and what evidence would change that picture.
Three questions it answers:
Which of China’s robot businesses make money today, and who are their buyers?
Who is paying for the general-purpose robot that valuations assume: private investors, capital markets or the state?
Which evidence would show that productive demand has arrived, and which would show progress toward general-purpose capability?
Inside: five chapters (One Label, Five Businesses; Who Pays Today; Who Pays for the Wait; How Long the Wait; How You Will Know). A Scorecard grades eleven earlier calls. A Watchlist lists twelve checkpoints, starting with Unitree’s third-quarter report on October 29, 2026. The data appendix holds shipments, funding and two prospectuses side by side.
Data as of October 6, 2026. Next edition: October 2027. This is the Founding report for the October to December 2026 quarter.
Buy the report ($99) · Read the free sample
Coming next
China’s Parallel Stack. How China is building a chip and compute stack beside Nvidia’s rather than chasing it.
How China Funds Its Tech Race. Where the money comes from: state funds, listings before profit, and the mechanisms that keep companies raising.
The token economy. How China prices and sells AI compute, from telecom plans to enterprise quotas. Title to be confirmed.
Dates will be added here when each report is scheduled. Subscribers hear first by email.