8:00 am, Kr 36 | US President Donald Trump: Looking forward to the visit to China very much; OPPO issues an accountability notice regarding the Mother's Day copywriting incident; Kuaishou plans to spin off Keling AI and raise $2 billion in financing
Today's Hotspot Guide
Tianzhou-10 cargo spacecraft completed rendezvous and docking with the space station complex.
National Radio and Television Administration: 51 domestic animated TV series totaling 9,659 minutes were filed for record in April.
Nintendo's stock price tumbled due to the poor prospects of Switch 2 games.
Qianwen is integrated with Taobao, and AI shopping is officially launched
Top 3 Big News
US President Trump: Looking forward to the visit to China very much
The spokesperson of the Ministry of Foreign Affairs announced that at the invitation of President Xi Jinping, Donald Trump, President of the United States of America, will pay a state visit to China from May 13th to 15th.
On May 11th local time, US President Trump posted on his social media platform "Truth Social" that he is very much looking forward to his upcoming visit to China, and said that China is "an amazing country." (CCTV News)
OPPO Issues Accountability Notice Regarding Mother's Day Copywriting Incident, Senior Vice President's Rank Demoted by Two Levels
On May 11, Jiemian News exclusively learned that in response to OPPO's inappropriate copywriting incident on Mother's Day, OPPO officially issued an accountability notice internally on May 11, imposing graded penalties on relevant responsible persons. Among them, Duan Yaohui, the person in charge of OPPO's China business, bears the ultimate management responsibility, and his rank has been demoted by two levels; other relevant management personnel have also been given disciplinary decisions. A person familiar with the matter said that this punishment "represents an unusually severe level of punishment in OPPO's history." (Jiemian News)
Kuaishou Plans to Spin Off Keling AI and Raise $2 Billion, with Tencent Participating
Kuaishou plans to spin off its video - generating large - model business, Keling AI, and raise funds at a valuation of $20 billion. As of the close of the Hong Kong stock market on May 11, the current market value of the entire Kuaishou company is less than $29 billion. It is reported that Keling's current annual recurring revenue (ARR) has reached $500 million, doubling compared to before the Spring Festival. In this round, Keling plans to raise $2 billion and is in talks with investors such as Tencent, and the deal has not been closed yet. If the deal is completed, Keling will be the independent video - generating large - model product with the highest valuation globally. (LatePost)
Big Companies/Big Events
The three major U.S. stock indexes closed slightly higher, and memory chip stocks strengthened
According to 36Kr, at the close on May 11, the three major U.S. stock indexes all closed slightly higher. The Dow Jones Industrial Average rose 0.19%, the S&P 500 Index rose 0.19%, and the Nasdaq Composite Index rose 0.1%. Among them, the S&P 500 Index and the Nasdaq Composite Index continued to hit new highs. Memory chip stocks strengthened. Qualcomm rose more than 8%, Western Digital rose more than 7%, Micron Technology rose more than 6%, Intel rose more than 3%, and NVIDIA rose about 2%, all hitting record closing highs. Most popular Chinese concept stocks rose. Li Auto rose nearly 5%, Baidu, XPeng Group, and NIO rose more than 3%, JD.com rose more than 1%, Pinduoduo, NetEase, and Bilibili rose slightly, iQiyi fell more than 2%, and Alibaba fell more than 1%.
Xingfu Electronics: SK Hynix was a pre - IPO shareholder holding 5 million shares, and the company's electronic - grade high - purity red phosphorus is still in the technology R & D stage
36Kr learned that Xingfu Electronics announced that after self - inspection, the company's production and operation are normal, and the controlling shareholder and the actual controller have no major matters that should be disclosed but have not been disclosed. In response to the media report that "SK Hynix (Wuxi) Investment Co., Ltd. newly entered the top ten tradable shareholders in the first quarter", the company clarified that this shareholder was a pre - IPO shareholder, holding 5 million shares, which were lifted from the lock - up on January 22nd, and the number of shares held remained unchanged. There is a possibility of subsequent share reduction. In addition, the market rumor that "the electronic - grade high - purity red phosphorus has been sold" is untrue. This product is still in the technology R & D stage, and there is uncertainty in commercialization. The company reminds that the current price - earnings ratio is 104.23 times, higher than the industry average of 58.15 times, and investors need to pay attention to risks.
WeChat's "Show Footprint" Gray Test Sparks Hot Discussion, Customer Service Clarifies: It's Not a Visitor Query Function
Recently, some netizens have found that WeChat Status is currently conducting a gray test for the "Show Footprint" function. Many netizens are worried that WeChat may support visitor queries, and the relevant topic quickly hit the top of the Weibo hot search list. In response, Sina Tech verified this with Tencent customer service. The other party said, "The 'Show Footprint' function is currently undergoing a gray test on the iOS client, mainly targeting active users who have updated to a relatively new version (such as iOS 8.0.73). If you are currently using other operating systems or versions, you won't be able to experience this function for the time being." Tencent customer service emphasized, "WeChat currently has no visitor query function, and all current functions are designed with the premise of protecting user privacy." (Sina Tech)
ST Baili: Suspected of illegal and irregular information disclosure, the CSRC decides to file a case against the company
36Kr learned that ST Baili announced that the company received the "Notice of Case Filing" issued by the China Securities Regulatory Commission (CSRC) on May 11, 2026. Due to suspected illegal and irregular information disclosure, the CSRC decided to file a case against the company. At present, the company's production and operation are normal, and it will actively cooperate with the investigation and fulfill its information disclosure obligations.
Beijing-Shanghai High-Speed Railway: Adjust the Published Fares of EMU Trains on the Beijing-Shanghai High-Speed Line and the Hefei-Bengbu High-Speed Line
36Kr learned that the Beijing-Shanghai High-Speed Railway announced that the company has decided to optimize and adjust the published fares of EMU trains on the Beijing-Shanghai High-Speed Line and the Hefei-Bengbu High-Speed Line. The published fares of EMU trains with a speed of 300 - 350 km/h and 200 - 250 km/h and below will be increased by 20%. The fares implemented between stations will take the published fares as the upper limit and will be subject to different levels of discount fluctuations. This adjustment aims to improve the market-oriented fare mechanism and enhance the quality of passenger transport services, but the impact on the company's performance is uncertain.
Jia Yueting Appointed as Global CEO of FF
On May 11th, Faraday Future (abbreviated as "FF") announced a series of personnel adjustments: The company's board of directors appointed Mr. Jia Yueting, the founder of the company, as the Global CEO of FF, and Jerry Wang as the Global Executive Chairman of FF; It agreed that Matthias Aydt would resign from the position of Global Co-CEO, and appointed independent director Chad Chen as the Chief Independent Director. Matthias Aydt will temporarily continue to serve the company as an internal consultant, and the specific new position is being discussed separately with the company's management. The company sincerely thanks Matthias for his years of dedication to FF. The above appointments and adjustments have taken effect since May 5th, 2026. (Sina Tech)
A large number of AI-generated buyer reviews have emerged on online shopping platforms. Experts say this behavior may constitute illegal false advertising.
Recently, a large number of beautifully AI-generated "buyer reviews" have appeared in the comment sections of many e-commerce platforms. However, the actual products received by consumers are far from what is shown in the buyer reviews, and the "AI buyer reviews" are not marked as AI-generated. A reporter's investigation found that although most e-commerce platforms clearly require in their rules that the evaluation content and pictures posted by buyers should be the real content of the purchased products and the fabrication of user evaluations is prohibited, the problem of imperfect review mechanisms is quite prominent in actual implementation. Some sellers even deliberately use AI-generated model pictures or buyer reviews to mislead consumers into making purchases.
Experts said that the act of merchants deliberately using AI to generate false pictures and misleading consumers may constitute illegal false advertising. The governance of the chaos of AI buyer reviews cannot be achieved by a single entity alone. Consumers, merchants, platforms, and regulatory authorities need to work together. E-commerce platforms should improve their review mechanisms and require merchants to clearly mark AI-generated related materials. Consumers need to improve their ability to distinguish and safeguard their rights in a timely manner when they encounter situations such as "the goods do not match the description". (CCTV News)
Chery Responds to "Entering the Japanese Market"
On May 11th, it was reported that Chery Automobile is collaborating with AUTOBACS SEVEN, a Japanese automotive supplies giant, and others to sell pure electric vehicles (EVs) made in China in Japan. Specifically, Chery, AUTOBACS, and other joint - venture partners have established a joint - venture company, and through the development and sales company EMT (located in Yokohama) under this joint - venture company, they will launch their own EV brand. The first EV is planned to be delivered in Japan starting in 2027. Leveraging the technology Chery has accumulated in the Chinese market, it will be equipped with advanced driving assistance and other functions. The specific price will be determined in the future, but it will target the mainstream market. In response, Chery Automobile stated that it is only one of the multiple shareholders investing in the EMT project and does not participate in the operation and management. (Yicai Global)
UK Plans to Attract £99 Billion in Overseas Pension Funds for Key Projects by 2035
The UK government has announced a plan aiming to attract £99 billion in overseas pension funds to invest in the UK's key projects by 2035. Just a few weeks ago, the government barely managed to get the pension bill passed in Parliament. The UK will establish a new "Supers Unit" led by the Investment Office, aiming to strengthen cooperation, streamline processes, and attract Australian pension funds to invest in growth sectors in the UK such as infrastructure, real estate, and the private equity market. (Sina Finance)
Tianzhou 10 Cargo Spaceship Completes Rendezvous and Docking with the Space Station Assembly
According to the China Manned Space Engineering Office, after entering orbit, the Tianzhou 10 cargo spaceship successfully completed its status setup. At 13:11 on May 11, 2026, Beijing time, it successfully docked with the rear port of the Tianhe Core Module of the space station. After the rendezvous and docking, Tianzhou 10 will enter the combined flight phase. Subsequently, the crew of Shenzhou 21 will enter the Tianzhou 10 cargo spaceship and carry out relevant work such as cargo transfer as planned. (CCTV News)
National Radio and Television Administration: 51 domestic TV animation series totaling 9,659 minutes were filed for record in April
36Kr learned that the National Radio and Television Administration issued a notice on the public announcement of the production filing of domestic TV animation series nationwide in April 2026. In April 2026, 51 domestic TV animation series totaling 9,659 minutes were filed for record nationwide. Ranked by the proportion, the themes of the filed domestic TV animation series are as follows: fairy - tale theme, educational theme, other themes, cultural theme, science - fiction theme, and historical theme.
Xiaomi's Patent for Vehicle Collision Risk Detection Published
36Kr learned that according to the intellectual property information from Tianyancha, recently, the patent for "A Method, Device, Equipment, Medium, and Program Product for Collision Risk Detection" applied by Xiaomi Automobile Technology Co., Ltd. was published. The abstract shows that this disclosure relates to the field of intelligent driving. The method includes: obtaining obstacle information, the vehicle's planned route, and the target area; in response to the existence of an overlapping area between the obstacle information and the vehicle's planned route, conducting obstacle intrusion detection on the overlapping area based on the target area; in response to the determination that there is an obstacle intrusion in the overlapping area, activating the vehicle's obstacle avoidance strategy. In the implementation mode of this disclosure, it is confirmed whether there is a real obstacle intrusion in the vehicle's planned route, and the vehicle's obstacle avoidance strategy is activated when it is confirmed that there is a real obstacle intrusion in the vehicle's planned route, thus avoiding the false activation of the vehicle's obstacle avoidance function caused by incorrect obstacle perception. Through the method provided by this disclosure, it can effectively reduce the interference to users during the driving process caused by the false activation of the vehicle's obstacle avoidance function and improve the user's driving experience.
Shanxi Adjusts Housing Provident Fund Loan and Withdrawal Policies
On May 11th, reporters learned from the Housing Fund Management Center of Shanxi Provincial Government Agencies that, in order to reduce the cost of home - buying consumption and relax the conditions for withdrawing provident funds for home - buying, starting from May 10th, 2026, Shanxi will extend the loan term of individual housing provident fund. The housing provident fund loan term is calculated in full years, with a maximum of no more than 30 years, and the loan maturity date should not exceed the borrower's 68th birthday. At the same time, the time limit for housing consumption behavior of "converting commercial loans to provident fund loans" and "partially converting commercial loans to provident fund loans" is adjusted. For employees who have obtained commercial housing mortgage loans through commercial banks before May 10th, 2026, to purchase housing in Taiyuan, after the property obtains the Real Estate Certificate, if they meet other loan conditions of the Housing Fund Management Center of Shanxi Provincial Government Agencies, they can apply for converting commercial housing mortgage loans to provident fund loans and partially converting to provident fund loans. In addition, the policy for withdrawing housing provident funds for home - buying is adjusted. When employees purchase housing, they can withdraw housing provident funds once respectively with the "Commercial Housing Sales Contract" or "Real Estate Certificate" within 5 years, and the cumulative withdrawal amount shall not exceed the actual home - buying payment. (CCTV News)
Nintendo's stock price plummets due to poor prospects for Switch 2 games
On May 11th, Nintendo's stock price on the Tokyo Stock Exchange dropped by 10%, hitting its lowest point since August 2024 and recording the largest decline in three months. The company had previously predicted a decline in hardware and software sales, indicating that Switch 2 has not yet formed a sustainable demand cycle. It is reported that Nintendo said it expects the hardware sales of Switch 2 to decline by 17% and software sales to decline by 11% in the fiscal year ending next March. Meanwhile, due to the rising costs of memory chips and other materials, the company was forced to announce price increases for Switch 2, the original Switch, online subscription services, and playing cards. (Jiemian News)
The Hong Kong government plans to propose issuing at least 10,000 ride-hailing licenses in the first phase
The Hong Kong Economic Journal reported, citing people familiar with the matter, that the Hong Kong government will submit a document to the Legislative Council as early as Monday, proposing to issue at least 10,000 ride-hailing licenses as a starting scale. The report said that the government plans to legalize ride-hailing services within this year, with the goal of launching legal operations in the fourth quarter. The Hong Kong government believes that neither the 30,000 licenses proposed by Uber nor the 3,600 licenses proposed by the taxi industry are viable options. (Sina Finance)
Apple A20 Pro to Receive Two Major Upgrades
According to industry leaks, the Apple A20 Pro will undergo two core upgrades. First, in terms of manufacturing process, this chip will adopt TSMC's latest 2nm process. Upgrading from the existing 3nm process to 2nm means that on the premise of basically unchanged chip size, the A20 Pro can achieve stronger performance output, and at the same time, the operating energy efficiency will be significantly improved. Second, the A20 Pro will also introduce the WMCM advanced packaging process for the first time. This is also the first time Apple has implemented this technology on an iPhone processor. Its core logic is to complete the vertical stacking and circuit interconnection of multiple chips such as SoC and memory before wafer cutting. After the overall integration is completed, it is then cut into independent chips, which features no interposer, short interconnection distance, and maximum integration. (Sina Finance)
The overseas expansion of short dramas has witnessed explosive growth, and AI dubbing services have become a necessity in the industry
In the past two years, the overseas short drama market has experienced explosive growth. The download volume and user scale of major overseas short drama apps have soared all the way, and Chinese enterprises have become the core players in this global short drama craze. Public data shows that in 2025, the download volume of Chinese short drama apps going global will account for more than 80% of the global short drama product downloads. Not only do the apps dominate the market, but a considerable part of the popular short drama content overseas also comes from the dubbed output of domestic finished dramas. As the overseas expansion of short dramas speeds up comprehensively, the demand for large - scale and high - efficiency dubbing has increased sharply, and AI dubbing services have become a necessity in the industry. "A human translator can only translate about 10 short dramas per month, with a cost of 1,500 to 3,000 yuan per drama; while our AI dubbing service can easily complete the translation of over 1,000 short dramas per month, with a cost of 300 to 500 yuan per drama. The efficiency has been greatly improved, and the cost has been significantly reduced." Wu Wanxuan, the vice president of business at Hangzhou Xiaoying Innovation Technology Co., Ltd. (hereinafter referred to as "Xiaoying Technology"), told reporters. (Securities Times)
Going public
Shared micro-mobility platform Neutron applies for US stock IPO, aiming to raise $250 million
Neutron Holdings, the operator of the Lime brand's electric scooter and electric bicycle rental platform, publicly submitted a listing application to the U.S. Securities and Exchange Commission (SEC) last Friday. It is expected that the scale of funds to be raised in the initial public offering (IPO) could reach $250 million.
Guoyi Quantum Passes the IPO Review on the STAR Market
36Kr learned that the website of the Shanghai Stock Exchange shows that the initial public offering (IPO) application of Guoyi Quantum Technology (Hefei) Co., Ltd., a company planning to list on the STAR Market, has been approved at the meeting of the listing committee.
Changying Precision submits a listing application to the Hong Kong Stock Exchange
36Kr learned that according to documents from the Hong Kong Stock Exchange, Shenzhen Changying Precision Technology Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, and China International Capital Corporation is the sole sponsor.
SMIC's Issuance of Shares to Acquire Assets Approved by the Shanghai Stock Exchange's Reorganization Committee
36Kr learned that according to the Shanghai Stock Exchange, the 5th review meeting of the Shanghai Stock Exchange's Merger and Reorganization Review Committee in 2026 was held on May 11, 2026. The review result shows that Semiconductor Manufacturing International Corporation (issuing shares to acquire assets) meets the requirements for reorganization and information disclosure.
The Cutting - Edge of AI
Qianwen Connects with Taobao, Officially Launches AI Shopping
36Kr learned that on May 11th, Qianwen was fully connected with Taobao. Users can open the Qianwen App, have a conversation with the AI, and then complete the selection, comparison, and order placement of products on Taobao. By opening the Taobao App and clicking on the "Qianwen AI Shopping Assistant", users can engage in AI shopping and use functions such as AI virtual fitting, AI discount calculation, and AI low - price purchase assistance.
Meitu's "Seamless Text Editing" AI Feature Supports Multiple Languages Including Chinese, English, Japanese, Korean, and Thai
36Kr learned that recently, 6 papers from Meitu's Imaging Research Institute (MT Lab) under Meitu Inc. have been accepted by three major international top - tier conferences: ICLR, CVPR, and ICML. Among them, the research focusing on scene text editing has been selected for ICML 2026, and the relevant technology has been implemented in the "Seamless Text Editing" feature of Meitu Design Studio App and MeituXiuxiu PC version. This feature breaks through the limitations of the preset word list in traditional text editing, supports multiple languages including Chinese, English, Japanese, Korean, and Thai, and can maintain the consistency of font style and picture texture without obvious splicing traces.
Tencent Cloud: QClaw Officially Launches the "File Space" Feature
36Kr learned that according to Tencent Cloud's official Weibo account, today, QClaw officially launched the "File Space" feature. With just one authorization, QClaw can comprehensively connect local files, Tencent Docs, and the ima knowledge base in one stop. From searching for materials, AI processing, to final output and collaboration, everything is closed-loop within one workbench.
The AI Creation Platform Lingzhu Officially Launches Its Second Internal Test
36Kr learned that on May 11th, the AI creation platform Lingzhu officially launched its second internal test. This internal test brings three major upgrades: First, the invitation code restriction is removed, and all users can directly log in and experience the platform. Second, the official environment is fully connected to the DeepSeek V4 large model, and the efficiency of the requirement analysis process has been increased by about 3 times. After users submit their creative ideas, the time for the system to analyze and optimize the requirements has been shortened from nearly 20 seconds to less than 5 seconds. Third, the login interface and the application plaza interface have been comprehensively optimized.
Polish e-commerce platform Allegro partners with OpenAI to introduce generative AI to the shopping experience
On May 11th, Allegro, the mainstream e-commerce platform in Poland, officially announced a technological cooperation with OpenAI, planning to apply generative artificial intelligence to its e-commerce ecosystem. Through this cooperation, Allegro aims to use OpenAI's technological models to optimize basic functions, including improving the accuracy of search results, enhancing the quality of personalized recommendations, and upgrading the response speed of intelligent customer service. (Jiemian News)
Financial reports of large companies
BeiGene: Net profit in the first quarter was 1.608 billion yuan, turning a profit from a loss year-on-year
36Kr learned that BeiGene released its performance report for the first quarter of 2026. The report shows that in the first quarter of 2026, the operating income reached 10.544 billion yuan, a year-on-year increase of 31.0%; the net profit attributable to shareholders of the listed company was 1.608 billion yuan. The company had a loss in the same period last year, turning a profit from a loss year-on-year. The change in performance is mainly due to the growth of product revenue and cost management, which have promoted the improvement of operating efficiency.
Investment and financing
"Uncharted Dynamics" Completes Seed Round Financing of Millions of Dollars
36Kr learned that Uncharted Dynamics, an infrastructure company for embodied intelligence, has completed a seed round financing of millions of dollars, led by K2VC. The funds will be used for the research and development of high-precision multi-body dynamics solvers and the expansion of the North American market.
“Xingrui Medicine” Completes Nearly $40 Million Series B+ Round of Financing
36Kr learned that “Xingrui Medicine” announced the completion of a nearly $40 million Series B+ round of financing. This round of financing was jointly invested by an industrial fund, Hillhouse Capital, LYFE Capital, Lilly Asia Ventures (LAV), Sherpa Healthcare Partners, Source Code Capital, and Primavera Capital. The funds raised in this round will be mainly used to accelerate the clinical development process of multiple in vivo cell therapy (in vivo CAR-T) pipelines, promote the establishment of extrahepatic delivery platforms for the lungs, intestines, and nervous system, and consolidate and strengthen the company's innovative R & D layout in the mRNA therapy field.
"Vita Dynamics" Completes Pre-A Round of Financing, Reaching 500 Million Yuan
36Kr exclusively learned that "Vita Dynamics" recently completed a Pre-A round of financing, reaching 500 million yuan. The financing was jointly led by Orient Jafu, Huatai Zijin, and Fosun RuiZheng. Shangqi Capital under SAIC Group and Minghui Zhiyuan also participated in the investment. Old shareholders such as Cathay Capital, Capital Today, Hillhouse Venture Capital, Yingce Capital, BV Baidu Ventures, and Borui Capital continued to invest. This is also the largest single financing in the consumer-grade embodied intelligence field. Vita Dynamics has also started mass production and delivery. Its first product, the "Vbot Super Robot Dog", officially started delivery on May 8th, and the first batch of 500 products have rolled off the production line. In addition to introducing quadrupedal dogs into the household scenario, Vita Dynamics is also starting the product R & D of humanoid robots.
"Luming Robotics" Completes Hundreds of Millions of Yuan in Series A1 and A2 Rounds of Financing
36Kr learned that recently, "Luming Robotics" announced that it has successively completed two rounds of financing, Series A1 and A2. The Series A1 round was led by Mitsubishi Electric Manufacturing Technology (China) Group Co., Ltd. (which coordinates Mitsubishi Electric's industrial automation business in China, hereinafter referred to as "Mitsubishi Electric"), with existing shareholders such as Puhua Capital and Wuzhong Financial Holdings making oversubscribed follow - on investments. The Series A2 round was also led by Mitsubishi Electric, with industrial investors such as Hundsun Technologies, Haigao Group, and Kunshi Investment participating as follow - on investors. After the completion of the two rounds of financing, the company has raised nearly 1 billion yuan in total. The financing will be used for the company's continuous investment in the R & D of embodied large models and scenario expansion.
A Small Survey on "Accounting for Spending" among Couples
In an intimate relationship, it's easy to talk about being smitten, but talking about money always seems particularly delicate. Who pays for the date, whether to split the common expenses equally (AA), and how to share the rent and living expenses after cohabitation... Some people think that one shouldn't haggle over every penny in a relationship, as being too calculating will dilute the sense of intimacy; while others insist that keeping clear accounts is the way to a long - lasting relationship, and clear income and expenditure can actually reduce conflicts.
Money is definitely an unavoidable problem in a relationship. Can you accept your partner's suggestion of an AA system? Will the income gap between the two parties affect the way of sharing expenses? Have you ever had disputes due to an imbalance in paying the bill or different views on spending? Welcome to scan the QR code to participate in the small survey and share with us your concerns and views about money in an intimate relationship.
A Small Survey on "Accounting for Spending" among Couples
Compiled | Xu Jiatong