8:00 am, 1st Kr | Doubao adds paid subscriptions; A vice president of Douyin Group responds to the paid Red Fruit short dramas; Apple delays the release of its Siri AI feature and settles a lawsuit for $250 million.
Today's Hotspot Guide
- Analysts say the pricing strategy of the iPhone 18 Pro is aggressive, with a starting price of 8,999 yuan.
- Fangdonglai's Zhengzhou store has been registered and is expected to open in October this year.
- Porsche sold Bugatti, and its sales are expected to decline to 30,000 units in 2026.
- Elon Musk reached a settlement with the U.S. Securities and Exchange Commission in the lawsuit over the disclosure of his Twitter stake.
- The Samsung heir has paid 12 trillion won in inheritance tax.
Top 3 Big News
Doubao to Introduce Paid Subscriptions in Addition to Free Mode, Official Response
Recently, a service statement for the paid version appeared on the Doubao App Store page. In response, Doubao's official statement said that Doubao always provides free services. On the basis of free services, Doubao is also exploring the launch of more value-added services. The details of the relevant plan are currently in the testing phase.
According to sources close to Doubao, the paid features will mainly focus on complex tasks and productivity scenarios, such as PPT generation, data analysis, and film and television production. As the model's capabilities continue to be upgraded, the product can already meet more and more complex and high-value tasks. However, such tasks require more computing power and inference time. Therefore, Doubao plans to launch a paid service to meet the needs of this part of complex scenarios. The free version will continue to be available for users' daily use. (Yicai Global)
Douyin Group Vice President: Online Rumors About Red Fruit Short Drama Charging Are False
Late on the evening of May 4th, Li Liang, Vice President of Douyin Group, posted on a social platform, clarifying that the so-called news circulating online about Red Fruit short dramas implementing charging is untrue. The actual situation is that, in order to continuously enrich the platform's video content ecosystem and meet users' diverse viewing needs, Red Fruit short dramas have gradually introduced some film and television content. In compliance with the requirements of relevant film and television copyright holders and industry practices, a small portion of such film and television content requires users to activate VIP privileges to watch.
The ad-free membership service is merely an optional feature designed to meet users' differentiated experience needs. It is not mandatory, nor does it change the core model of free content viewing for users. Whether it is the ad-free VIP service or the very limited amount of film and television content that requires VIP access, these features were already available on Red Fruit as early as February 2024 and are not recent changes. (Jiemian News)
Apple Settles Lawsuit for $250 Million Due to Delayed Release of Siri AI Features
Apple reached a settlement on Tuesday in a shareholder lawsuit, paying $250 million in compensation. The lawsuit stemmed from the company's delay in the artificial intelligence upgrade of its Siri voice assistant. The lawsuit was filed by Peter Landscheidt in a federal court in California in 2024. The reason was that the iPhone maker announced a series of AI upgrade features at its 2024 annual software developers conference and started advertising, claiming that these features would be launched with the new iPhones in the fall of that year. However, the finally released iPhones did not include these features, and the plaintiff claimed that this had damaged the interests of shareholders. (Sina Finance)
Large Companies/High - profile Events
Analysts say iPhone 18 Pro's pricing strategy is aggressive, with a starting price of 8,999 yuan
Analyst Jeff Pu said in a recent report that Apple will adopt an aggressive pricing strategy for the iPhone 18 Pro and iPhone 18 Pro Max, keeping the price of the 256GB base - version unchanged. This means that the starting price of the iPhone 18 Pro is 8,999 yuan, and the starting price of the iPhone 18 Pro Max is 9,999 yuan. Against the backdrop of widespread price - increase pressure across the industry, Apple's stable pricing strategy is highly competitive in the market.
It's worth noting that although the 256GB version of the iPhone 18 Pro series offers more storage without a price increase, the high - capacity versions may still see a price hike. By doing so, Apple can not only ensure its profit margin but also seize the high - end market share of the Android camp.
This differentiated pricing strategy not only consolidates Apple's position in the high - end market but also attracts more price - sensitive potential users through price anchoring, further widening the gap with its competitors. (Kuaikeji)
Fat Donglai's Zhengzhou store is registered and is expected to open in October this year
On May 4th, reporters learned that the Zhengzhou store of Xuchang Fat Donglai Supermarket Co., Ltd. was registered and established on April 29, 2026. It is reported that the registration type of the Zhengzhou store of Xuchang Fat Donglai Supermarket Co., Ltd. is a branch of other limited liability companies. The establishment date is April 29, 2026. The registration authority is the Free Trade Zone Service Center of the Zhengzhou Market Supervision and Administration Bureau. The business location is at No. 109, Putian West Road, Zhengzhou Area (Zhengdong), Henan Free Trade Pilot Zone.
In April this year, reporters visited the construction site of the Zhengzhou Fat Donglai project and saw that the workers were fully promoting the project construction with a persistent focus on details. Reporters learned that the Zhengzhou store of Fat Donglai is expected to open in October this year. (Dahe Daily)
Only 27.63 million color TVs were sold in the domestic market in a year, hitting a 10-year low
The retail volume data of China's color TV market in 2025 provided by AVC shows that the figure is 27.63 million units, which is a record low in nearly 10 years. Looking at the global market, the demand for color TVs has not been boosted either. According to the 2025 global color TV market report released by AVC Revo, the overall shipment volume of the global color TV market is 264 million units, a slight year-on-year decline of 0.1%. (NBD)
Costco Beijing has applied for company cancellation
Costco (Beijing) International Business Development Co., Ltd. (hereinafter referred to as "Costco Beijing"), which once announced that it would invest $1.5 billion to expand its business in multiple Chinese cities, has applied for company cancellation. The National Enterprise Credit Information Publicity System shows that Costco (Beijing) International Business Development Co., Ltd. was registered on April 16, 2026, with Huang Shousu as the legal representative. The company is currently in the process of a simplified cancellation announcement, and the announcement period is from April 29, 2026, to May 19, 2026.
On April 17, "Costco Beijing" publicly announced on its official WeChat account that it would invest $1.5 billion to build membership-based warehouse supermarkets in Beijing, Chengdu, Wuhan, Guangzhou, Tianjin, and Hefei. However, all relevant articles have been removed following the cancellation of the official account. (The Paper)
Porsche Sells Bugatti, Expects Sales to Drop to 30,000 Units by 2026
Recently, Porsche announced that it has agreed to sell its joint - venture company "Bugatti Rimac" and all of its equity stake in the Rimac Group. The buyer is an international investor consortium led by the New York investment firm HOF Capital. Porsche established this joint - venture company with Rimac in 2021, holding a 45% stake at that time and retaining a minority stake of approximately 20.6% at the Rimac Group level.
This sale comes against the backdrop of Porsche's own profit pressure. Since Bugatti produces fewer than 100 cars per year but incurs research and development costs as high as hundreds of millions of euros, this "high - input, low - output" business model has made it the primary target for divestment when Porsche faces cash - flow constraints. (NBD)
The three major U.S. stock indexes closed higher collectively, with Intel rising more than 12%
36Kr learned that at the close on May 5, the three major U.S. stock indexes rose collectively. The Dow Jones Industrial Average rose 0.73%, the Nasdaq Composite rose 1.03%, and the S&P 500 Index rose 0.81%. Among them, the Nasdaq and the S&P 500 Index hit new record highs again. Large technology stocks showed mixed performance. Intel rose more than 12%, Oracle and Apple rose more than 2%, Google rose more than 1%, and Amazon rose slightly. Netflix fell more than 3%, NVIDIA fell 1%, and Meta, Tesla, and Microsoft fell slightly. Most popular Chinese concept stocks fell. iQiyi fell 4%, NIO fell more than 2%, JD.com and Pinduoduo fell more than 1%, XPeng Group fell 1%, and Baidu, Alibaba, Li Auto, and Bilibili fell slightly. 36Kr rose more than 3%, and Dingdong Maicai and Zhihu rose more than 1%.
EU Officials: Soaring Energy Prices Drive Up EU Inflation
On May 4th local time, Valdis Dombrovskis, the European Commissioner for Economic Affairs, stated that due to the conflict in the Middle East, energy prices have soared, and the oil price exceeded $125 per barrel last week. He pointed out that the rise in energy prices affects every participant in the European economy, including businesses and households, and this situation is pushing the EU economy towards a path of slower growth and intensified inflation. (CCTV News)
During the May Day holiday, the national railways carried over 100 million passengers in total
According to China National Railway Group Co., Ltd., on May 4, the national railways carried 20.383 million passengers. Since the start of the May Day holiday transportation on April 29, the national railways have carried a total of 117 million passengers, and the transportation has been safe, stable and orderly. On May 5, the return passenger flow on the railways continued to rise. The national railways are expected to carry 23 million passengers, and 2,225 passenger trains are planned to be added. (CCTV News)
80 Bids Result in a Deal with a Premium of Over 9% to the Secondary Market. 0.06% of ST Huayi's Equity Was Won by Hengqin Tiansheng in the Auction
It was learned from the JD Asset Trading Platform that on the 5th, in the judicial auction of 1.8 million unrestricted tradable shares (accounting for approximately 0.06% of the company's total share capital) of ST Huayi held by Wang Zhonglei, Zhuhai Hengqin Tiansheng Equity Investment Partnership (Limited Partnership) under CITIC Group won the auction with the highest bid of 3.5826 million yuan, equivalent to about 1.99 yuan per share. Based on the latest closing price of ST Huayi at 1.82 yuan per share, the price at which Zhuhai Hengqin Tiansheng acquired ST Huayi's shares in this auction has a premium of over 9% to the secondary market. (Caixin)
Apple Considers Having Intel and Samsung Manufacture Device Processors
Apple is in talks with Intel and Samsung Electronics, planning to have these two companies produce the main processors for its devices as alternative suppliers to TSMC. Currently, the negotiations between Apple and Intel and Samsung are still in the preliminary stage, and no orders have been placed yet. Apple still has concerns about using non-TSMC technology. Affected by supply chain disruptions (including the recent boom in AI data center construction and the chip shortage caused by the unexpectedly high demand for Macs), Apple is considering adding suppliers to ease the production capacity bottleneck and avoid growth limitations. Spokespersons for Apple, Intel, Samsung, and TSMC all declined to comment. (Global Market Report)
Elon Musk Reaches Settlement with U.S. SEC over Twitter Stockholding Disclosure Lawsuit
On May 4 local time, Elon Musk has reached a settlement in a civil lawsuit filed by the U.S. Securities and Exchange Commission. The lawsuit accused him of failing to disclose his initial purchase of shares in Twitter (now known as X) in a timely manner in 2022. According to the settlement agreement disclosed by the federal court in Washington, D.C. on that day, a trust established in Musk's name will pay a $1.5 million civil fine. Musk did not admit to any misconduct and is not required to return the $150 million he allegedly saved due to the delayed disclosure. (Jiemian News)
South Korea's Online Shopping Sales in March Exceeded 25 Trillion Won, Hitting a New High, with Surging Demand for Tesla
Data released by the South Korean government on Monday showed that driven by strong demand for Tesla cars and food services, South Korea's online shopping sales in March increased by 13.3% year-on-year, reaching 25.58 trillion won (about $17.37 billion), hitting the highest monthly level since relevant data collection began in 2017. Driven by the hot sales of Tesla cars through the online ordering system, spending on cars and auto parts increased by 109.9% year-on-year. (Sina Finance)
The Samsung heir has paid 1.2 trillion won in inheritance tax
The Samsung Group said that the heirs of the late Samsung Group Chairman Lee Kun-hee have completed the payment of 1.2 trillion won (approximately $8.1 billion) in inheritance tax on his estate. According to the company's statement, this payment will be made in six installments starting in 2021. This sets a new record for the highest inheritance tax bill in South Korea. (Kuaikeji)
GameStop Proposes to Acquire eBay for Nearly $56 Billion
It is reported that GameStop CEO Ryan Cohen said that he has voluntarily proposed to acquire eBay for approximately $56 billion. Cohen said that GameStop already holds about 5% of eBay's shares and has proposed to acquire it at $125 per share in cash plus stock, which is about a 20% premium to eBay's closing price last Friday. (Jiemian News)
Suspect in baby food poisoning and extortion case arrested in Austria
Austrian police said on May 2 that a poisoning case previously exposed by HiPP, a well - known European infant food producer, has been solved. A 39 - year - old male suspect has been arrested and is currently in custody in Austria. Police said the suspect is suspected of putting rat poison in a HiPP infant complementary food product and faces charges of intentionally endangering public safety and attempting to seriously injure others. According to Austria's Kronen Zeitung, the man was arrested in the state of Salzburg near Germany and is currently in custody in the state of Burgenland. (Huanjingjin News Network)
Elon Musk's $158.3 billion compensation is actually zero
Tesla disclosed in a regulatory filing on April 30 that Elon Musk's total compensation in 2025 was $158.36 billion, 2.5 million times the median pay of the company's ordinary employees. Although this figure is quite astonishing, the company also disclosed a number of important additional notes. Tesla stated in the filing that there may be a "huge discrepancy" between the total compensation of Musk publicly announced by the company each year and its actual value received. Since Tesla did not meet any market - value and business performance targets last year, Musk's actual received compensation last year was zero. (CCTV Finance)
Trump administration's rescue plan fails, and Spirit Airlines in the US announces suspension of operations
Struggling US low-cost carrier Spirit Airlines said on Saturday that it had begun an orderly phased suspension of operations. Spirit Airlines said all flights had been cancelled and advised passengers not to go to the airport. Previously, the Trump administration had considered providing Spirit Airlines with $500 million in exchange for warrants to purchase up to 90% of the company's shares after its bankruptcy reorganization. However, the major creditors rejected the deal because it would give the government's claims priority if Spirit Airlines were to go bankrupt in the future. (Sina Finance)
Petrobras' Exports to the US Dropped to Zero in the First Quarter
Petrobras, the Brazilian state - owned oil company, has cut its oil exports to the United States to zero. In the first quarter of this year, about 62% of the company's exported crude oil went to China. During the period from January to March, Petrobras exported an average of about 1.12 million barrels of oil and derivatives per day, a 47% increase compared to the same period last year. India has become the second - largest destination for Brazilian oil, receiving about 15% of the total, up from 14% in the same period last year. Petrobras said in a securities filing: "India, currently the world's second - largest seaborne oil importer, has solidified its position as a strategic market." (Sina Finance)
The Cutting - Edge of AI
White House Plans to Conduct Reviews Before Releasing AI Models
The Trump administration is considering issuing an executive order to establish an artificial intelligence task force aimed at strengthening the regulation of this emerging technology. One of the proposals calls for a government review process for new AI models. The newspaper reported that White House officials briefed executives from Anthropic, Alphabet (Google's parent company), and OpenAI on some of the proposed plans during a meeting last week. (Yicai Global)
OpenAI: GPT-5.5 Instant is now available to all ChatGPT users starting today
OpenAI said that GPT-5.5 Instant is being rolled out to all ChatGPT users starting today. For paid users, GPT-5.3 Instant will remain available for the next three months. Users can access it through the model configuration settings, after which this version will be officially retired. The memory source feature is being gradually rolled out to all ChatGPT consumer package users on the web version and will soon be launched on the mobile version. (Cailian Press)
Meta Acquires Robot AI Company to Accelerate the Layout of Humanoid Robot Technology
Meta Platforms has completed the acquisition of the robotic artificial intelligence startup Assured Robot Intelligence to accelerate the R & D process of its humanoid robot technology. The acquisition was completed on May 1st, and the specific financial terms were not disclosed. Assured Robot Intelligence focuses on developing AI models for robots, and its technology aims to enable robots to understand, predict, and adapt to human behavior in complex and dynamic environments. A Meta spokesperson said that the startup "is at the forefront of robotic intelligence." (Sina Finance)
Former Qualcomm executive to join Intel and lead the Client Computing and Physical AI Division
On May 5th, Intel Corporation announced two important leadership appointments. Alex Katouzian will join Intel in May, serving as Executive Vice President and General Manager of the Client Computing and Physical AI Division. Katouzian previously worked at Qualcomm Technologies, Inc., serving as Executive Vice President and General Manager of the Mobile, Computing, and XR Business Group. Intel also announced that Pushkar Ranade, who previously served as Acting Chief Technology Officer, has been officially appointed as Chief Technology Officer.
As Chief Technology Officer, he will advance the company's technology strategy, lead special technology projects, and promote the development of key emerging fields such as quantum computing, neuromorphic computing, photonics, and new materials. Katouzian and Ranade will report directly to CEO Pat Gelsinger. (Jiemian News)
Financial reports of large companies
HSBC Holdings: Q1 revenue increased by 6% year-on-year to $18.6 billion
At noon on May 5th, HSBC Holdings announced on the Hong Kong Stock Exchange that the pre-tax profit on a reported basis in the first quarter of 2026 decreased by $100 million year-on-year to $9.4 billion; revenue increased by $1 billion year-on-year to $18.6 billion, a growth rate of 6%. The board of directors has approved the payment of the first dividend for 2026 at $0.1 per share. (21st Century Business Herald)
Budweiser APAC: Q1 revenue reached $1.493 billion, down 0.7% year-on-year
Budweiser APAC released its Q1 results early on the 5th. In the first quarter of 2026, the total sales volume increased by 0.1% to 197,370,000 hectoliters of beer. This was due to the group's strong performance in India and the improvement of the industry situation in China, but was offset by the timing difference in shipments in South Korea. Due to additional investments in China, the revenue in the first quarter of 2026 was $1.493 billion, down 0.7% year-on-year, and the revenue per hectoliter decreased by 0.8%. (Caixin)
Estée Lauder: Market share in the Chinese mainland has increased for five consecutive quarters
36Kr learned that on May 1st, the Estée Lauder Companies Inc. released its financial report for the third quarter of fiscal year 2026. During the reporting period, the company's net sales increased by 5% to reach $3.7 billion; organic net sales increased by 2%; the adjusted gross profit margin increased by 140 basis points, rising from 75.0% to 76.4%; the operating profit margin was 6.7%, down from 8.6% in the same period of the previous year, mainly due to the increase in restructuring and other expenses. It is worth noting that the Chinese mainland market has achieved an increase in market share for five consecutive quarters, and six brands achieved double - digit growth this quarter.
Apple's revenue in the second fiscal quarter was $111.18 billion, a year-on-year increase of 17%
Apple's revenue in the second fiscal quarter was $111.18 billion, a year-on-year increase of 17%, with a forecast of $109.66 billion. Among them, iPhone revenue was $56.99 billion, a year-on-year increase of 22%, with a forecast of $56.98 billion; The net profit in the second fiscal quarter was $29.58 billion, a year-on-year increase of 19%; The earnings per share in the second fiscal quarter were $2.01, compared with $1.65 in the same period last year, with a forecast of $1.96. The company approved a stock repurchase plan of up to $100 billion and raised the dividend to $0.27 per share. (Jiemian News)
Compiled | Yuting He