8:00 am, 1st Kr | The trademark of "No. 1 Native Pig" has been declared invalid; When the coal mine explosion occurred in Shanxi, nearly half of the miners who went down the well had no valid information in the system; Xiaomi reported on the incident of faking the vacuuming of air conditioners.

Today's Hotspot Guide

Tesla adjusts the Chinese name of FSD to "Tesla Assistive Driving": The price remains at 64,000 yuan.

There will be a 3 - day Dragon Boat Festival holiday, and highways will not be toll - free.

SpaceX's IPO will include retail investor allocations.

Cryptocurrencies collectively plunged, over 120,000 people were liquidated, and the total contract liquidation across the network exceeded 500 million yuan.

The United States adjusts its immigration policy. Applicants for green cards must return to their home countries to submit applications.

Top 3 Big News

The trademark "No. 1 Native Pig" has been declared invalid, and the enterprise has filed a lawsuit to safeguard its rights

The highly - concerned trademark dispute over "No. 1 Native Pig" has reached the latest stage. The Trademark Office of the National Intellectual Property Administration has officially declared invalid four "No. 1 Native Pig" trademarks owned by Guangdong No. 1 Food Co., Ltd. for use on pork and pork products.

Currently, the enterprise has brought the matter to court, hoping to safeguard its rights through judicial means. Industry insiders point out that trademark invalidation declarations usually involve multiple factors, including whether the trademark is distinctive, whether it violates the prohibited terms, and whether there is a situation of trademark squatting. The final outcome of this case will have important reference value for similar trademark dispute cases. (IT Times Network)

When a coal mine explosion occurred in Shanxi, only 124 out of 247 miners going underground were recorded, and no valid information for 123 miners could be found in the system

At 19:29 on May 22, 2026, a gas explosion occurred at Liushenyu Coal Mine of Tongzhou Group in Qinyuan County, Shanxi Province. At present, the accident rescue work is still in full swing. Reporters said that miners need to go through face recognition, pass through the security door, and carry a personnel positioning card for registration before they can go underground.

Reporters saw at the scene that the public notice board for miners going underground at the time of the explosion showed that 124 miners went underground. After verification from multiple sources, the actual number of miners underground was 247, and no valid information for 123 miners could be found in the system. (CCTV.com)

Xiaomi Issues a Notice on the Vacuum Pumping Fraud Incident in Air - Conditioner Installation

Recently, Xiaomi has taken the most severe measures in response to the vacuum pumping fraud problem in the air - conditioner installation process. All the involved cooperative engineers have been directly and permanently blacklisted, and a notice has been issued to the national home - improvement service system.

Regarding these two violation incidents, Xiaomi has made a decision to take the most severe measures. All the involved engineers have been directly blacklisted and removed, and any form of cooperation with them has been permanently terminated. The offline installation outlets to which the involved engineers belong shall bear the main supervision responsibility. According to the institutional assessment rules, this will be treated as false service, and a fine of 1000 yuan will be imposed on each order. A notice of criticism has been issued to all service providers across the country. If similar problems occur in the future, the brand will further strengthen the accountability. (Kuaikeji)

Large Companies/High - profile Events

Tesla FSD's Chinese name changed to "Tesla Assistive Driving": The price remains at 64,000 yuan

Tesla China's official website has officially changed the Chinese name of the FSD function to Tesla Assistive Driving. After the renaming, the price of this function remains at 64,000 yuan without any changes. According to the function description officially announced simultaneously, this integrated function encompasses all the existing capabilities of the basic assistive driving and enhanced assistive driving packages. (Tencent News)

Successful First Flight of Domestic 600-Kilogram Thrust-Level Turbofan Engine

On May 23, 2026, the 600-kilogram thrust-level F406 turbofan engine independently developed by Sichuan Tianfu Light Power Technology Co., Ltd., a subsidiary of Aero Engine Corporation of China, was successfully test-flown for the first time on an advanced meteorological unmanned aerial vehicle (UAV) with two engines installed. During the flight, the engine worked normally and stably. After completing all the scheduled flight subjects, the UAV successfully returned and landed, marking a complete success of the first flight.

The 600-kilogram thrust-level F406 turbofan engine has complete independent intellectual property rights. It can work stably at an altitude of 15 kilometers and a speed of over 0.8 Mach. It features outstanding performance such as long endurance and high reliability, and can be widely used in multi-purpose UAV platforms for long-endurance inspections, high-altitude meteorological detection, and unmanned cargo transportation. (People's Daily)

Three - day consecutive holiday for the Dragon Boat Festival, no toll - free on the expressway

According to the "Notice on the Arrangement of Some Holidays in 2026" issued by the General Office of the State Council, the Dragon Boat Festival will be from June 19th (Friday) to June 21st (Sunday), with a total of 3 days off. According to the "Implementation Plan for Exempting Small Passenger Cars from Tolls during Major Holidays", small passenger cars with 7 seats or less enjoy the policy of toll - free passage on the expressway during the four national legal holidays of Spring Festival, Tomb - sweeping Festival, Labor Day, and National Day. (Red Star News)

SpaceX IPO to Include Retail Allocation

SpaceX said that part of the shares it plans to list on the Nasdaq will be directly offered to retail investors at the same IPO price as institutional investors through platforms such as Robinhood, Fidelity Investments, and Charles Schwab. This move aims to expand the investor base and allow ordinary investors to participate in this highly anticipated listing event. (Sina Finance)

Lagou.com has applied for bankruptcy, and its app has been quietly removed from the app store

Lagou.com, once a popular vertical recruitment platform in the internet industry, has applied for bankruptcy. It is reported that both the applicant and the respondent in this bankruptcy application are Beijing Lagou Network Technology Co., Ltd. itself, which means "applying for its own bankruptcy".

Currently, although the official website of Lagou.com can be accessed, the user comments on a large number of recruitment pages stopped six months ago; the 400 customer service hotline goes unanswered; the official Weibo and WeChat accounts have stopped updating since March 2025; and its app has been quietly removed from the Apple App Store.

Lagou.com was once hailed as the "unicorn in internet recruitment". The company was founded in March 2013 by Xu Dandan and others, and "Lagou Recruitment" was officially launched on July 20 of the same year. (Metropolitan Express)

Cryptocurrencies Plunge Collectively, Over 120,000 People Liquidated, and Total Contract Liquidation Exceeds $500 Million Globally

On May 23rd, cryptocurrencies took a collective nosedive. As of 11:30 Beijing Time, within the past 24 hours, Bitcoin dropped nearly 3% and fell below $76,000, while Ethereum and Dogecoin declined by over 3%.

Data from CoinGlass shows that within 24 hours, over 120,000 people were liquidated in the global cryptocurrency market, with the total liquidation amount exceeding $500 million. Among them, long - position liquidation amounted to $343 million, and short - position liquidation was $35.79 million. The largest single liquidation order occurred in Binance - ETHUSDT, worth $5.7259 million.

This decline in cryptocurrencies coincided with the decline in global stock and bond markets. Currently, nervous traders are dealing with a possibility: as the conflict between the United States and Iran continues to drag on, central banks around the world may be forced to tighten policies to control inflation. The de - facto closure of the Strait of Hormuz (through which about one - fifth of the world's oil used to pass) has dampened market sentiment and pushed up oil prices. (21st Century Business Herald)

iOS 27 Features a Brand - New Upgrade, Enhancing User Experience

According to tech media 9To5Mac, Apple will upgrade the camera and photo apps in the iOS 27 system. Building on last year's iOS 26, the system will further enhance the user experience and add multiple AI editing features.

Currently, the camera interface layout of iPhones is relatively fixed, and most professional options are hidden in the secondary menu. According to Bloomberg, Apple plans to add a custom layout function for the camera interface in iOS 27, allowing users to decide which functions to keep on the primary interface. The adjustable items include the flash, exposure control, timer, and resolution settings.

Meanwhile, this change is also aimed at enhancing the experience for professional users. The camera app will also add more advanced control options, and several control buttons in the upper - right corner will be moved to the right of the shutter button. On the other hand, Apple will integrate visual intelligence into the camera app in the form of a new Siri. (IT Home)

"Love Letter to Grandma" Box Office Exceeds One Billion

At around 11 a.m. on May 24th, "Love Letter to Grandma" reached a milestone moment as its box office officially exceeded one billion yuan, becoming the fifth domestic film this year with a box office exceeding one billion and the first film with a box office exceeding one billion since the Spring Festival film season this year. (The Paper)

Two securities practitioners receive a fine of 1.9 million yuan

Recently, a three - year "hidden path for shareholding" was uprooted by the regulators. On May 20th, the Jiangxi Securities Regulatory Bureau issued two administrative penalty decisions at once, exposing the secret operations of securities practitioners Su Huafeng and Shi Zheyuan in illegally holding shares of a company to be listed. The two tried to evade regulatory red lines under the guise of "entrusted shareholding" and finally swallowed a high - value fine of 1.9 million yuan in total.

Industry insiders said that this is not an ordinary case of illegal stock trading. Against the background of full - process supervision and in - depth accountability, this fine directly points to the gray area of interest transfer in the investment banking circle, reflecting the regulators' zero - tolerance attitude towards illegal shareholding by securities practitioners. (Eastmoney.com)

The entire cryptocurrency market has risen across the board

According to CoinGlass data, Bitcoin soared significantly during intraday trading. As of press time, Bitcoin has risen by over 1%, currently trading at $76,686 per coin. It had previously come close to the $74,000 mark. In addition, other cryptocurrencies have also seen a wave of upward trends. Among them, Ethereum has risen by over 2%, HYPE by over 10%, ZEC by over 5%, and SOL, XRP, etc. by over 1%. Meanwhile, in the past 24 hours, over 110,000 people in the cryptocurrency market have been liquidated, with a total liquidation amount of $737 million. (Tencent.com)

After two failed auctions, 70% of the equity of Shanghai Wanda Microfinance under Wang Jianlin's name will be put up for sale

70% of the equity of Shanghai Wanda Microfinance Co., Ltd. under Dalian Wanda Group Co., Ltd. will be put up for sale from May 26th to July 25th. This auction is publicly initiated by the Second Intermediate People's Court of Shanghai. The starting bid price is approximately 409 million yuan, and the appraised value is approximately 731 million yuan. According to information disclosed by Qichacha, this equity has previously failed to sell in two auctions. (Phoenix.com)

The Terminal 2 of Hong Kong International Airport will be put into use, and 15 airlines will move in in batches

The Terminal 2 (T2) of Hong Kong International Airport will be put into use on May 27. On May 22, at Hong Kong International Airport, it was seen that the new terminal is equipped with 108 check - in counters and 68 self - service baggage drop - off counters, and supports the mobile express baggage drop - off service. The Hong Kong Airport Authority said that 15 airlines will move in in batches. At present, the new terminal is expected to handle 30 million passenger trips per year. Together with the Terminal 1 (T1), which can handle up to 70 million passenger trips per year, the two terminals will be able to handle up to 100 million passenger trips per year in the future. (China News Service)

US Adjusts Immigration Policy: Green Card Applicants Must Return to Their Home Countries to Submit Applications

The US government announced on the 22nd that it is adjusting a long - standing immigration policy: Foreigners who are in the United States and intend to apply for legal permanent residency (green card) must return to their home countries to submit their applications. This move has raised humanitarian concerns. For decades, foreigners with legal status, including spouses of US citizens, holders of work and student visas, have been able to complete the green card application process entirely within the United States. (Xinhua News Agency)

New CEO Takes Office, Walmart Undergoes Top-Level Personnel Adjustments with Multiple Executives Leaving

It is reported that at least two executives at Walmart are about to leave. After the new CEO took office in February this year, the company initiated a management personnel adjustment. The Chief Operating Officer of Sam's Club, Walmart's warehouse membership store, announced their departure on Friday. Meanwhile, the head of Walmart's U.S. store operations will also leave. (Sina Finance)

Microsoft Pays $250 Million to Settle Activision Blizzard Shareholder Lawsuit

Microsoft and former Activision Blizzard executives have agreed to pay $250 million to settle a class - action lawsuit by shareholders triggered by Microsoft's $69 billion acquisition of Activision Blizzard in 2023. The lawsuit, initiated by Activision Blizzard shareholders, accused the company of insufficient information disclosure during the acquisition process and suspected underpayment to shareholders. The settlement agreement avoids a long and costly court litigation process, marking the end of another legal dispute surrounding this huge deal for the time being. (Sina Finance)

AMD Announces Mass Production of Next-Generation EPYC CPUs

Advanced Micro Devices (AMD) has announced the commencement of mass production of the 6th-generation AMD EPYC CPUs codenamed "Venice," marking a significant milestone in AMD's collaboration with TSMC on 2-nanometer technology. It is reported that AMD plans to carry out the above-mentioned mass production at TSMC's wafer fab in Arizona, USA, in the future. (Eastmoney.com)

Going Public in Progress

Watson's Plans to List in Hong Kong, China and London in the Second Half of the Year

It is reported that Watson's Group plans to launch dual - listings in the second half of this year, with an overall valuation of $30 billion. It has not yet been decided which of Hong Kong, China and London will be the primary listing venue. (Sina Finance)

Puxiang Health Files for Listing on the Hong Kong Stock Exchange

36Kr learned that according to documents from the Hong Kong Stock Exchange, Puxiang Health Holdings Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are Shenwan Hongyuan Hong Kong and ABC International.

Rongtai Pharmaceutical Files for Listing on the Hong Kong Stock Exchange

36Kr learned that documents from the Hong Kong Stock Exchange show that Guangdong Rongtai Pharmaceutical Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor.

The Cutting - Edge of AI

Permanent Price Cut for DeepSeek-V4-Pro API

36Kr learned that according to DeepSeek's official WeChat account, after the 75% discount promotion for the API of the DeepSeek-V4-Pro model ends on May 31, 2026, the price will be officially adjusted to 1/4 of the original price.

Starbucks Halts AI-Powered Automatic Inventory Counting Tool: Frequent Errors After 9 Months of Launch

Starbucks has recently officially terminated the AI-powered automatic inventory counting tool used in its North American stores. The system was designed to automatically count the inventory of supplies such as milk and syrup by taking photos with tablets. However, it was halted after nine months of launch due to frequent errors. (Sina Finance)

Investment and Financing

Anthropic to Complete Over $30 Billion Funding Round as Early as This Week

Anthropic PBC is set to conclude its latest funding round as early as this week. The financing amount could exceed $30 billion, and the company's valuation will surpass $900 billion, enabling it to overtake its rival OpenAI and become the world's most highly valued artificial intelligence startup. It is reported that Sequoia Capital, Dragoneer Investment Group, Altimeter Capital, and Greenoaks Capital Partners are expected to jointly lead this round of financing. Each of the above companies plans to invest approximately $2 billion. (Sina Finance) 

Compiled | Yuting He