At 8 a.m., here are the latest news: Mango TV has reduced the number of devices that can use a new membership simultaneously to one; A Sam's Club tasting staff member was fired for posting their payslip online; The average annual salary at China Merchants Bank has dropped below 600,000 yuan.
Going Public in Progress
Hichen Energy Storage
36Kr learned that according to the Hong Kong Stock Exchange, Xiamen Hichen Energy Storage Technology Co., Ltd. has officially submitted a prospectus to the Hong Kong Stock Exchange and plans to list on the main board. Huatai International, CITIC Securities, ABC International, and BOCI are the joint sponsors.
Annoroad Gene Technology (Beijing) Co., Ltd.
36Kr learned that according to documents from the Hong Kong Stock Exchange, Annoroad Gene Technology (Beijing) Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CCB International and Guotai Junan International.
Top 3 Big News
Mango TV Reduces New Member Benefits: Simultaneous Device Usage Drops from 2 to 1
On March 26th, reporters discovered that Mango TV had adjusted the number of devices that members can use simultaneously. For new Mango TV members who subscribed after March 25th, the number of devices that can be used simultaneously has been changed from 2 to 1. The notice shows that this time, Mango TV has divided the number of simultaneously usable devices into three levels: old members, new members, and intimate members. Among them, regarding the benefits for new members, members can enjoy the right to log in on 4 devices and use 1 device; the sub - accounts of Mango TV's intimate members can enjoy the right to log in on 1 device and use 1 device. Currently, the benefits of Mango TV's old members remain unchanged. (Jiemian News)
Multiple parties respond to the dismissal of a Sam's Club tasting staff member for posting a payslip: The employee's statement does not match the facts, and the salary payment standard complies with regulations
Recently, a netizen posted that a tasting staff member at a Sam's Club in Nantong, Jiangsu, was dismissed for serious disciplinary violations because the employee posted their salary online. The relevant company stated that what the employee, Miss Gu, said did not match the facts. The two parties had signed a confidentiality agreement, and the employee had only achieved full attendance for two months. Her monthly salary exceeded 4,000 yuan, and the salary payment standard complied with regulations.
The "Confidentiality Agreement" and "Employee Handbook" signed by the employee whose labor relationship was terminated clearly stipulate that salary information falls within the scope of confidentiality. The person in charge said that the employee had worked for the company for less than six months and only achieved full attendance in October and December 2024. Her salaries for these two months were 4,465.68 yuan and 4,092.92 yuan respectively (the actual payment after deducting social insurance premiums was 3,570.62 yuan). The local sub - district office has reviewed the salary calculation method and confirmed that it is correct. The person in charge also said that the company believes that Miss Gu's behavior has affected the reputation of the client company. The company hopes that Miss Gu will delete the relevant Weibo posts. At the same time, the company has decided to compensate Miss Gu with more than 2,900 yuan for one - month's salary. (Yangtze Evening News)
China Merchants Bank's per capita salary drops below 600,000 yuan, and the president's salary is cut by 491,500 yuan
In 2024, China Merchants Bank cut salaries again, and the per capita cost dropped below 600,000 yuan. Although the bank's net profit increased year-on-year last year. Specifically, in 2022, China Merchants Bank had 113,000 employees, with employee expenses of 70.6 billion yuan, and the per capita cost was 625,000 yuan.
In 2023, the bank had 116,500 employees, with employee expenses of 70.35 billion yuan, and the per capita cost was 604,000 yuan. In 2024, the number of employees reached 117,200, with employee expenses of 68.09 billion yuan, and the per capita cost was 581,000 yuan. In addition, the president of China Merchants Bank had a salary cut of 491,500 yuan, and his pre - tax remuneration was 2.9617 million yuan.
It is worth noting that this is the second consecutive year that China Merchants Bank's employee expenses have declined. In 2022, the employee expenses were 70.657 billion yuan. Judging from the per capita expenses, it has also decreased for two consecutive years. (Sina Bank)
Large Companies/ Major Events
Xiaolu Mama was exposed for having multiple unreasonable workplace management requirements, and the labor supervision in Hefei has filed a case for review against Xiaolu Mama
Recently, Xiaolu Mama Company has strict regulations such as "no fixed lunch break time", "prohibiting the placement of personal items at workstations", and "forcing employees to have meals at their workstations", which has sparked a heated public discussion on the rationality of workplace management. Some employees said that the company requires that employees cannot wear headphones during the lunch break, and cannot go out unless they are picking up takeaways or express deliveries. Even after picking up their meals, they need to return to their workstations to eat, and they need to fill out a registration form when going out.
On March 26, the Labor Security Supervision Brigade of Luyang District, Hefei City, told reporters that after they noticed the media reports, they had already gone to Xiaolu Mama Company for an investigation. "A case has been filed, and we will go there again today." (Breaking news)
Kale has been snapped up by brands like Heytea, with its price rising from 80 cents per pound to $3.5
Recently, driven by multiple tea - beverage brands, kale has become a popular ingredient for new tea drinks. More than a dozen brands have launched over 30 related beverages. Growers said that the price of kale has risen from 80 cents per pound to $3.5 per pound. However, nutrition experts pointed out that the dietary fiber in kale drinks is significantly reduced, and they may turn into high - calorie drinks after adding sugar. Wang Silu, a senior food inspector, reminded that product slogans such as "body - slimming" have no scientific basis. It's more of a way for merchants to use certain nutrients to change the concept. (Daily Economic News)
The increase of Evergrande Auto in the Hong Kong stock market has widened to 200%
On the afternoon of March 26, Evergrande Auto in the Hong Kong stock market rose rapidly, and the increase widened to 200%.
According to the news, on March 20, Evergrande Auto announced that the company originally planned to hold a board meeting and approve the release of the 2024 annual performance announcement on March 31, 2025, but the announcement will be postponed. The company will apply to the Stock Exchange to suspend trading of its shares from 9:00 a.m. on April 1, 2025, until the performance announcement is released. (Cailian Press)
The U.S. Federal Aviation Administration will recruit 2,000 air traffic controllers this year and continue to strictly supervise Boeing
The acting administrator of the U.S. Federal Aviation Administration (FAA) said in written testimony submitted to a U.S. Senate panel on Thursday that the agency plans to recruit 2,000 air traffic controller trainees this year and maintain strict oversight of Boeing. Acting FAA Administrator Chris Rocheleau said in the written testimony that the agency will also form a group to "identify other hazardous areas involving the interaction between helicopters and fixed-wing aircraft." (Sina Finance)
Nvidia and Tesla tumbled more than 5%, with Nvidia's market value evaporating by over 1.2 trillion overnight
On March 26 local time, the three major U.S. stock indexes closed lower across the board. The Nasdaq fell 2.04%, marking its largest single - day decline since March 11. The S&P 500 index dropped 1.12%, and the Dow Jones Industrial Average declined 0.31%. The Philadelphia Bank Index of U.S. stocks closed down 0.8%, ending its previous eight - consecutive - trading - day upward trend. Large - cap technology stocks generally fell. Tesla dropped 5.58%, and Nvidia tumbled 5.74%, with its market value evaporating by $169.1 billion (approximately RMB 1.2291 trillion) overnight. Intel and Google declined by more than 3%. Amazon, Meta, and Netflix fell by more than 2%. Microsoft dropped by more than 1%, and Apple saw a slight decline. Class B shares of Berkshire Hathaway, owned by Buffett, rose nearly 1%, continuing to hit a record closing high. (Caixin and National Business Daily)
BYD Executive: The First Batch of Megawatt Flash Charging Stations Will Be Put into Use in Early April
36Kr learned that Li Yunfei, the general manager of BYD Group's brand and public relations department, posted on Weibo, saying, "Some time ago, we launched BYD's Super e-Platform, which features nearly 11 world records, including megawatt flash charging, 30,000-rpm motors, and high-voltage silicon carbide modules. Recently, I've noticed that some people on the internet still don't quite believe it and even have doubts. BYD has always adhered to the principle of mass-producing products right after their release." Li Yunfei stated that 4,000 megawatt flash charging stations are being planned, and the first batch of approximately 500 will be available for use during the launch of the Han L and Tang L in early April.
Internet celebrity Daxiangge responds to being defrauded of 12.49 million yuan: Strive to pay off the debt within one or two years
Recently, Daxiangge, a well - known food vlogger on Bilibili, has attracted attention after revealing that he was involved in a fraud case worth up to 12.49 million yuan. The fraudster, under the guise of "zero - risk investment", fabricated a high - end restaurant investment project and repeatedly induced Daxiangge to transfer money without a written contract. Daxiangge said that in order to pay off the debt, he has sold his luxury cars, used his family savings and his elders' pension money. Currently, he still owes about 3 million yuan. Moreover, Daxiangge refuted the rumor and emphasized that his divorce was just due to a poor relationship between the two parties and had nothing to do with this incident.
On March 24th, Daxiangge told reporters that the fraudster is an 80s - born individual. After opening a restaurant in Shanghai, many popular celebrities went to dine there, which made the restaurant popular. With such a successful case, it was easy for the fraudster to attract investments. However, the expansion of the business was poorly managed, and the money owed to the supply chain couldn't be repaid. The fraudster has fled abroad, and it's difficult to pay off the debt within a few years. But Daxiangge said that he will focus on creating good content in the future and strive to pay off the debt within one or two years. (Zhengzai News)
Official Response on Taishan Robot Dogs Replacing Porters: They Can't Replace, Just for Garbage Transport
Recently, while the Taishan robot dogs have attracted attention, some people are curious whether the robot dogs will replace the porters. In response, a staff member from Taishan Cultural and Tourism said that the robot dogs cannot replace humans. They are only used for garbage transfer, and someone needs to remotely control them while they are working.
Previously, Wang Houzhe, the executive director and general manager of Taishan Smart Cultural and Tourism Technology Group, introduced that on February 1st this year, the mountain - climbing assistance robots started working in the Taishan Scenic Area. The "robot dogs" can flexibly avoid pedestrians and obstacles according to the preset routes and instructions, and accurately deliver the goods to the designated locations. Wang Houzhe said, "In the past, the goods transportation in the Taishan Scenic Area mainly relied on human labor, which was inefficient and restricted by the terrain. Now, the addition of the robot dogs has greatly improved this situation. They act as 'couriers' and can pass through complex terrains, delivering supplies to every corner in a timely manner to meet the needs of tourists." (Poster News, China News Service)
Infiniti Sues Wang Leehom and Xidong Music
According to the Qichacha APP, recently, the court made public a case where Dongfeng Infiniti Motor Co., Ltd. sued Wang Leehom and Xidong Music (Shanghai) Co., Ltd. for property damage compensation. The announcement shows that the case is scheduled to be heard by the People's Court of Jinshan District, Shanghai on April 28. Among them, ALEXANDER LEE HOM WANG (Wang Leehom) serves as the legal representative of Xidong Music (Shanghai) Co., Ltd.
As previously reported, Infiniti once officially announced Wang Leehom as its brand ambassador, but terminated the contract only 35 hours later. (Sichuan Observation)
Lei Jun Once Rejected Wuhan University's Proposal to Establish the "Lei Jun Class": Worried about Being Scolded by Netizens if it Didn't Succeed
On the evening of March 24th, the awarding ceremony of the Lei Jun Scholarship was held at Wuhan University. Ten students received the Lei Jun Outstanding Scholarship, with each getting 100,000 yuan. Lei Jun personally presented the awards to the winning students. During his on - site speech, Lei Jun mentioned that the president of the university called him and suggested that he establish the "Lei Jun Class". At that time, he "struggled for a long time". He said, "Currently, I only plan to run the 'Lei Jun Class' for five sessions. We'll evaluate the results then. The pressure is huge. If it doesn't go well, netizens will scold me." Lei Jun also said that just thinking about the possibility of being scolded made him "unable to sleep at night." (Sina Hot News)
Tesla's Double Crisis: Frequent Attacks on U.S. Stores and Market Share in Europe Shrinks to 1.1%
Recently, Tesla stores, cars, and charging piles in many parts of the United States have been severely damaged, and there have also been protest activities against buying Tesla cars in some areas. According to ABC News, multiple incendiary devices were found at a Tesla sales center in Texas, the United States, on the morning of the 24th. Currently, these incendiary devices have been removed without causing any damage, but it is still unclear who is responsible for this incident. The U.S. Federal Bureau of Investigation said that the relevant acts are terrorist acts, and a special task force has been established to investigate these incidents targeting Tesla.
On the 25th local time, Agence France - Presse reported that data from the European Automobile Manufacturers Association showed that from January to February this year, the number of newly - registered Tesla cars in the EU market dropped by 49% year - on - year, experiencing a "free - fall" plunge. (CCTV News)
Wuhan Customer Buys a "Premature" Cake for 20 Yuan, Store Manager Responds
On March 24th, a netizen in Wuhan, Hubei Province, posted a video saying that they spent 20 yuan to buy a Fresh Fruit Blossom cake at a certain cake shop. They found that the production date on the cake was March 25th, and suspected that the date was falsely marked. On the 26th, the store manager of the shop responded that the employee had remembered the wrong date when printing. After discovering the problem, the entire batch of cakes was taken off the shelves and destroyed. It was a work mistake. (Litchi News)
Apple to Avoid EU Browser Antitrust Fines but Faces New Sanctions
People familiar with the matter revealed on Tuesday that Apple is expected to avoid potential fines and rectification orders by adjusting iPhone browser options to comply with the EU's Digital Markets Act (DMA). The European Commission is expected to conclude an investigation launched last March early next week. Previously, regulators believed that Apple's browser interface design might hinder users from switching to competitors' products. The people familiar with the matter said that while announcing the end of the browser investigation early next week, the EU will also issue a fine against Apple's App Store policies, ruling that it restricts developers from guiding users to third - party payment methods. (Sina Finance)
Cocoa Prices Soar as Brazil Builds the World's Largest Cocoa Farm
Affected by factors such as adverse weather, aging trees, and crop diseases, the production in many major cocoa - producing regions around the world has dropped significantly, leading to a tight market supply and a soaring cocoa price. The futures price in the New York market once exceeded $12,000 per ton and is currently hovering around $8,000 per ton. The South American country of Brazil has also spotted a business opportunity in this and is building the world's largest cocoa farm. The Brazilian government expects that by the end of this year, the cocoa production will increase to 300,000 tons and reach 400,000 tons by 2030. (CCTV Finance)
Short drama promotion claiming "earn over 10,000 yuan a month from scratch" only earns 47.84 yuan a month
There are an endless stream of "teaching posts" for short drama promotion that claim "earn over 10,000 yuan a month with zero foundation" and "stay - at - home moms can do it". A netizen's mother was convinced. The authorization fee for relevant materials plus the course service fee cost 4,880 yuan. However, the tutorial is actually similar to the free materials available online. The course sellers also promote a more expensive advanced course, claiming that one can create so - called "second - creation videos" by simply clicking a few times on an APP.
The netizen's mother used her own account to "promote short dramas" for a month. In the end, only two fans purchased a 29.9 - yuan paid package on the short drama platform through her videos. According to the contract signed with the institution, she could earn 80% of the package amount as a commission. That is to say, after a month of hard work, she only earned 47.84 yuan, and her account was reported for suspected "plagiarism". (CCTV News)
Trump Announces 25% Tariff on Imported Cars, Effective April 2
On March 26 local time, US President Trump issued a statement announcing a 25% tariff on all imported cars. The tariff will take effect on April 2.
Trump said that the auto tariffs will be permanent. He stated that if cars are manufactured in the United States, no tariffs will be paid. Trump also said that the United States will impose tariffs on timber and drugs. (CCTV News)
ADM CEO's Compensation Shrinks by 11% in 2024
On March 25 local time, the annual report submitted by U.S. commodity trader Archer Daniels Midland (ADM) showed that Chief Executive Officer Juan Luciano's compensation in 2024 was $21.6 million, down from $24.4 million the previous year. As the company's profit and return on investment fell short of the preset targets, Luciano's annual incentive plan bonus dropped from $3.6 million the previous year to $1.2 million. (Jiemian News)
Amazon Releases Report: Over 15 Million Counterfeit Goods Discovered, Seized, and Properly Handled Globally in 2024
36Kr learned that on March 26, Amazon released its 2024 Brand Protection Report. This is the fifth consecutive year that Amazon has released a brand protection report, which highlights its efforts in combating counterfeits, protecting consumers, brands, and third - party sellers from the harm of counterfeits, as well as the progress made in holding bad actors accountable and raising awareness of brand protection among consumers and sellers. In 2024, Amazon discovered, seized, and properly handled over 15 million counterfeit goods globally, preventing these counterfeits from reaching consumers or being resold in other parts of the global retail supply chain. Amazon will continue to innovate, strengthen the protection of brands and third - party sellers, and make continuous efforts to build a fair, transparent, and trustworthy sales and shopping environment.
Unitree Technology Responds to Having Been Profitable for at Least Five Years: True
Some media reported that Zhao Nan, an early investor in Unitree Technology and the founder of SevenUp Capital, revealed that since 2020, Unitree's financial statements have shown a profitable state every year. Recently, in a communication with Wang Xingxing, the latter responded that there were no plans for a new round of financing. The person in charge of Unitree Technology's marketing department responded that the information was true. (Sina Technology)
Apple Announces a Donation of 30 Million Yuan to Zhejiang University and Will Jointly Establish a Mobile App Incubation Fund
On March 26th, Apple Inc. announced a donation of 30 million Chinese yuan to Zhejiang University. Apple will jointly establish the Apple Mobile App Incubation Fund with Zhejiang University, a partner of the Mobile App Innovation Competition, and provide cutting - edge technical training, including professional courses in app development, product design, marketing, and business operations. (Jiemian News)
Qirui Dazhuo Intelligence: Rumors of "Layoffs" and "Merger" Are False
36Kr learned that Dazhuo Intelligence, a subsidiary of Qirui Group, issued a statement saying that the company has noticed that some online media and social platform accounts have published false information about "Dazhuo Intelligence initiating layoffs" and "Dazhuo being merged into Qirui R & D General Institute". Such reports seriously deviate from the facts. At present, the company's business is operating stably. The so - called rumors of "layoffs" and "merger" are purely fabricated and completely inconsistent with the facts. The company reserves the right to safeguard its legitimate rights and interests through legal means against the acts of maliciously spreading false information and damaging the corporate image.
German President Dissolves Current Government
According to a report by Deutsche Presse-Agentur, on March 25 local time, German Chancellor Olaf Scholz and his cabinet members were officially dismissed by German Federal President Frank-Walter Steinmeier. Scholz and his cabinet members will continue to perform their duties until a new federal government is established. According to Article 69 of Germany's "Basic Law", after the new Bundestag is established, the outgoing government will be officially dissolved. (CRI Online)
The thickness of the iPhone 17 Air is half that of the Pro
On March 25th, the source MajinBuOfficial posted a tweet on the X platform, sharing a comparison photo of the dummy models of the Apple iPhone 17 Air and iPhone 17 Pro. The thickness of the Air is about half that of the Pro.
Previously, it was reported that the total thickness of the iPhone 17 Air, including the camera bump, is 9.5mm (4mm for the bump and 5.5mm for the body), which is consistent with the report by analyst Ming-Chi Kuo. Comparing with the current iPhone 16 Pro Max, which has a thickness of 8.25mm (excluding the bump), if the Pro Max maintains the current size, the thickness of the Air can indeed be "halved". (HotTech)
The Cutting - Edge of AI
Tencent Yuanbao's Dual Models Undergo Synchronous Upgrade, First to Integrate the Latest Version of DeepSeek V3 and the Official Version of Hunyuan T1
36Kr learned that on March 26th, Tencent Yuanbao underwent a significant upgrade, integrating two major models simultaneously: the official version of the in - depth thinking model "Tencent Hunyuan T1" and the latest version of DeepSeek V3 - 0324. After the upgrade, Yuanbao's capabilities have been comprehensively enhanced, and it performs even better in scenarios such as programming, mathematical reasoning, and long - text processing. Tencent stated that Tencent Yuanbao will continue to adhere to the dual - model approach, always providing users with better and more advanced models and deploying them in a timely manner to create a "user - friendly AI" for everyone.
Financial Reports of Large Companies
Pop Mart: Revenue in 2024 increased by 106.9% year-on-year to 13.04 billion yuan, and the number of new members throughout the year exceeded 10 million
36Kr learned that Pop Mart International Group released its full-year financial report for 2024. The report shows that the revenue in 2024 was 13.04 billion yuan, a year-on-year increase of 106.9%; the adjusted net profit was 3.403 billion yuan, a year-on-year increase of 185.9%. Among them, the revenue in the Chinese mainland was 7.97 billion yuan, a year-on-year increase of 52.3%; the revenue from overseas and Hong Kong, Macao and Taiwan businesses was 5.07 billion yuan, a year-on-year increase of 375.2%, accounting for 38.9% of the total revenue. As of December 31, 2024, the total number of cumulative registered members of Pop Mart in the Chinese mainland was 46.083 million, and the number of newly registered members throughout the year was 11.729 million.
Nongfu Spring: Total revenue for the full year of 2024 was 42.896 billion yuan, a year-on-year increase of 0.5%
36Kr learned that Nongfu Spring announced that its total revenue for the full year of 2024 was 42.896 billion yuan, a year-on-year increase of 0.5%; the profit attributable to the owners of the parent company was 12.123 billion yuan, a year-on-year increase of 0.4%.
Jinyao Pharmaceutical: Net profit of 133 million yuan in 2024, a year-on-year increase of 14.01%
36Kr learned that Jinyao Pharmaceutical released its annual report for 2024. In 2024, it achieved an operating income of 3.215 billion yuan, a year-on-year decrease of 15%; the net profit attributable to shareholders of the listed company was 133 million yuan, a year-on-year increase of 14.01%; the basic earnings per share was 0.122 yuan; it plans to distribute a cash dividend of 0.98 yuan (tax included) for every 10 shares to all shareholders.
China Southern Airlines: Net loss of 1.696 billion yuan in 2024, narrowing losses year-on-year
36Kr learned that China Southern Airlines released its annual report for 2024. In 2024, it achieved an operating income of 174.224 billion yuan, a year-on-year increase of 8.94%. The net loss attributable to shareholders of the listed company was 1.696 billion yuan, compared with a net loss of 4.209 billion yuan in the same period of the previous year.
Compiled | Guo Zihe