Krypton Evening News | SpaceX is about to become the second listed company under Elon Musk's umbrella; JD.com, Yanghe Group and others have established a new kinetic energy equity investment fund in Suqian with a contribution of 1 billion yuan.
Large companies:
Yuantong Express: Express product revenue reached 6.071 billion yuan in April, a year-on-year increase of 5.49%
36Kr learned that Yuantong Express announced that its express product revenue reached 6.071 billion yuan in April, a year-on-year increase of 5.49%; the business volume reached 2.726 billion parcels, a year-on-year increase of 1.22%; the average revenue per express parcel was 2.23 yuan, a year-on-year increase of 4.21%.
Bilibili: Q1 Revenue Reaches 7.47 Billion Yuan, with 115 Million Daily Active Users
36Kr learned that Bilibili (hereinafter referred to as "Bilibili") released its financial report for the first quarter ended March 31, 2026. The financial report shows that Bilibili's total revenue in the first quarter was 7.47 billion yuan. The number of daily active users reached 115 million, a year-on-year increase of 8%; the average daily usage time increased to 119 minutes, reaching a record high. The gross profit margin increased quarter-on-quarter for 15 consecutive quarters to 37.1%, and the adjusted net profit was 590 million yuan, a year-on-year increase of 62%.
Jinpu Titanium Industry: The company currently has no battery investment plan
Jinpu Titanium Industry stated at the performance briefing on May 19th that whether the new energy company can achieve profitability in 2026 is affected by various factors and is uncertain. In addition, the company currently has no battery investment plan. (Securities Times) Investment and financing:
Wens Foodstuff Group Co., Ltd.: It is expected that the price of Chinese native chickens (yellow - feather broilers) in 2026 will be better than that in 2025
36Kr learned that Wens Foodstuff Group Co., Ltd. said on the interactive platform that in the past few years, the Chinese native chicken (yellow - feather broiler) industry has been in the trough of the cycle. According to the past cycle rules and combined with the situation of the consumer market, the company is relatively optimistic about the market of Chinese native chickens (yellow - feather broilers) in 2026. It is expected that the price of Chinese native chickens (yellow - feather broilers) in 2026 will be better than that in 2025. The profitability of the chicken - raising business is more certain than that of the pig - raising business. The above is only the company's forecast and does not constitute a commitment to the operating performance. Please note the investment risks, investors.
JD.com, Yanghe Group and others establish a new kinetic energy equity investment fund in Suqian with a capital contribution of 1 billion yuan
36Kr learned that Tianyancha App shows that on May 19th, Suqian New Kinetic Energy Equity Investment Fund (Limited Partnership) was established. The executive partner is Suqian Zhizhou Enterprise Management Co., Ltd., with a capital contribution of 1 billion RMB. Its business scope includes equity investment, engaging in equity investment, investment management, asset management and other activities through private equity funds. The partner information shows that this fund is jointly funded by Jiangsu Yanghe Group Co., Ltd., Suqian Yufeng Industrial Investment and Development Management Group Co., Ltd., Suqian Huiyuan Investment Management Co., Ltd. under JD.com, Jiangsu Yanghe Investment Management Co., Ltd., Suqian Tianzhi Era Enterprise Management Co., Ltd., and Suqian Zhizhou Enterprise Management Co., Ltd.
SpaceX is about to become the second listed company under Elon Musk, and Tesla may be marginalized
As SpaceX initiates the IPO process, the market will provide investors with a new entry point into the "Musk economy." Wall Street professionals believe that investors' attention and funds will inevitably be diverted from Tesla to this new listed company. Gilbert, a portfolio manager at Integrity Asset Management, said: "This is definitely not good for Tesla. We think Musk will shift more of his focus to SpaceX. Although he has been able to handle multiple projects simultaneously in the past, it seems that SpaceX is his 'favorite' project that he has put a lot of effort into, and Tesla may be marginalized." (Caixin)
New products:
Tencent Cloud Launches Big Data Agent Workbench DataBuddy
36Kr learned that Tencent Cloud has officially launched the Big Data Agent Workbench DataBuddy. This is a big data native agent workbench built on the same underlying Agent capabilities as WorkBuddy. Users can complete the entire process of data tasks from access to development, governance, and analysis through natural language conversations.
Stellantis Plans to Produce Affordable Electric Vehicles with Leapmotor in Italy
According to people familiar with the matter, Stellantis is planning to jointly produce a compact electric vehicle with China's Leapmotor in Italy to reduce costs and access more competitive technologies. Stellantis said on Tuesday that the model, named E-Car, will start production at a factory in Italy in 2028, and Leapmotor is the main partner in this project. (Caixin)
Today's Viewpoint:
State Administration for Market Regulation: Over 40 million self-employed households are engaged in the "four new economies"
Reporters learned from a press conference of the State Administration for Market Regulation today (the 19th) that self-employed households are an important part of the private economy and the largest group of business entities in China. As of the end of 2025, the number of self-employed households engaged in the "four new economies" in China reached 40.109 million, maintaining a growth trend for five consecutive years. (CCTV News)
Other news worthy of attention:
National Development and Reform Commission: Strengthen the dominant position of enterprises in scientific and technological innovation and promote the open sharing of resources and scenarios with private enterprises
36Kr learned that the National Development and Reform Commission has issued an action plan for "legal protection for the private economy". The plan proposes to carry out special development - enabling actions according to local conditions. Strengthen the dominant position of enterprises in scientific and technological innovation, promote the open sharing of resources and scenarios with private enterprises, support private enterprises to participate in major national projects in accordance with laws and regulations, and provide support for private enterprises to introduce and cultivate urgently needed and scarce talents.