The billionaire ‘buccaneer’ braving the Strait of Hormuz

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By partnering at scale with vertical/niche KOLs and building a content matrix, its DTC website became the core sales channel. In the first nine months of 2025, the DTC site generated RMB 1.086 billion in revenue, accounting for 61.1% of total revenue; platforms such as Amazon and Walmart contributed about RMB 376 million.

“India followed the world on 4G, but we marched with the world on 5G,” Jyotiraditya Scindia, India’s Minister of Communications, said on stage at MWC. “We had one of the fastest rollouts of 5G in the world—500,000 base stations, close to a $4 billion capex program, and 99.9% of districts covered today. The price of mobile data in India, which a decade ago was at $3 per GB (gigabyte) today has dropped to nine cents per GB, a 97% drop.”

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