Krypton Evening News | The first credit derivatives transaction of a contract linked to a blue bond in China was completed in Shandong; By the end of 2030, China aims to increase the resource utilization rate of municipal solid waste in cities to over 76%; Singapore seeks to shorten the account opening time for the wealthy to one month.
Large Companies:
36Kr learned that recently, Tomato Novel released the "Announcement on Strengthening the Governance of Low-Quality Content". The announcement shows that since May, Tomato Novel has processed over 150,000 low-quality books in total, including rejecting 112,706 low-quality books for contract signing and removing 40,275 low-quality and non-compliant books.
China's First Blue Bond-linked Credit Derivatives Transaction Lands in Shandong
36Kr learned that according to the Shanghai Clearing House, recently, under the guidance and promotion of the Shandong Branch of the People's Bank of China, Shandong successfully completed a blue bond-linked credit derivatives transaction. This transaction is China's first credit risk mitigation contract with blue bonds as the protection target.
Japanese financial regulators are urging domestic listed companies to use more of their cash reserves for long-term business investment rather than rewarding shareholders through stock buybacks and dividend increases. Guiding more national wealth held by enterprises and households to support future economic expansion is one of the core pillars of Japanese Prime Minister Shigeru Ishiba's plan to revitalize the Japanese economy. She has long criticized the large amount of idle cash held on corporate balance sheets.
AliExpress' Brand+ Brand Expansion Plan Officially Launches in South Korea
36Kr learned that AliExpress' Brand+ brand expansion plan has officially launched in South Korea. This year, AliExpress' marketing investment in South Korea will triple compared with last year. In addition, currently 50% of AliExpress orders in South Korea can be delivered within three days.
DPD Holdings Partners with Lingxin SmartHand to Establish Lingmei Intelligence
36Kr learned that according to Tianyancha, on May 21, DPD (Shenzhen) Digital Technology Co., Ltd., Lingxin SmartHand (Beijing) Technology Co., Ltd., and Shenzhen Taiyi Enterprise Management Center (Limited Partnership) jointly invested to establish "Lingmei Intelligence Digital Core (Beijing) Technology Co., Ltd.", with the three parties holding 51%, 29%, and 20% of the shares respectively. The legal representative of Lingmei Intelligence Digital Core (Beijing) Technology Co., Ltd. is Zhang Feng, who is also the co-founder and president of DPD Holdings.
New Products:
Elon Musk: Grok Base Model V9-Medium (1.5T) Has Completed Training
Elon Musk announced that the Grok base model V9-Medium (1.5T) has completed training, with promising evaluation results. A large amount of Cursor data has been added during supplementary training, and more data will be added in the future. Fine-tuning work is currently underway, reinforcement learning training will start in a few days, and the official release is expected in 2 to 3 weeks.
Investment and Financing:
"Tianji Intelligence" Completes 1 Billion Yuan in Financing
36Kr learned that according to the official WeChat account of Tianji Robot, recently, Guangdong Tianji Intelligent System Co., Ltd. officially completed 1 billion yuan in Series B and Series B+ financing. After the financing round, its valuation reaches nearly 10 billion yuan, and the company has entered the ranks of unicorns. This round of financing was co-led by Hillhouse Capital and Meituan Strategic Investment, with Tencent, Gaorong Capital, Photosynthesis Capital, GGV Capital and other institutions participating in the follow-on investment. Gaohu Capital acted as the exclusive financial advisor. This round of financing will be mainly used for technology research and development, large-scale mass production, and the construction of a global sales network.
"Bluedot Haptic" Completes Hundreds of Millions of Yuan in Series C++ Financing
36Kr learned that recently, six-dimensional force sensor enterprise "Bluedot Haptic" announced the completion of hundreds of millions of yuan in Series C++ financing. This round of financing was led by SAIC Financial and Shanghai Automotive Group Capital, with SMIC Juyuan, Zhengda Robot and Houwei Capital participating in the follow-on investment. This round of financing will be mainly used for new product research and development, digital production facility construction, and global market expansion.
"Heige Technology" Completes Over 300 Million Yuan in Series C Financing
36Kr learned that "Heige Technology" recently completed over 300 million yuan in Series C financing. This round of financing was co-led by Legend Capital and Fortune Capital, with Gopher Asset and Guoke Investment participating in the follow-on investment. The capital from this round will be used for research and development and iteration of light-curing technology, deepening layout of the global industrial chain, introduction of top talents, and release of a new generation of digital dental solutions and desktop light-curing full-color creation products.
Today's Opinions:
Elon Musk stated on Sunday that if SpaceX's Starlink satellite network continues to develop, it may eventually carry most of the world's Internet traffic, and described a future where this system becomes the core backbone of global network connectivity. Musk responded on X to a post citing details from an internal SpaceX document, which shows that the downlink capacity of Starlink V3 satellites will be greatly increased, from 96Gbps per satellite in V2 to 1024Gbps.
Other Notable News:
Singapore Plans to Shorten Account Opening Time for High-net-worth Clients to One Month
As Singapore's status as a global wealth management center continues to rise, the country's financial regulators are working with private banks to adopt a "risk-appropriate" approach to shorten account opening cycles. Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), said at the UBS Asia Investment Conference held in Singapore that the authority hopes to shorten the cycle from the current median of about six weeks, which is even longer for complex cases, to less than one month. Menon said on Monday that this move aims to ensure that banks avoid unnecessary and excessive scrutiny of clients' source of wealth while maintaining high regulatory standards. Menon said that MAS issued a circular to financial institutions on Monday, providing more guidance on the latest regulatory approach. He also added that the industry will launch case studies and provide training for bank employees and compliance professionals.
Reporters learned from the Ministry of Housing and Urban-Rural Development on the 25th that by the end of 2030, China aims to achieve a resource utilization rate of more than 76% for municipal solid waste.
According to the China Manned Space Agency, after the manned spacecraft successfully docked with the space station complex, the Shenzhou 23 crew smoothly entered the orbital module from the spacecraft's return capsule. At 5:13 on May 25, 2026 Beijing time, the on-orbit Shenzhou 21 crew opened the hatch and welcomed the Shenzhou 23 crew from afar into the Chinese space station. This is the 8th "space rendezvous" in the history of Chinese spaceflight, and it is also the first time that a Hong Kong astronaut has entered the Tiangong Space Station. Subsequently, the two crews took a "group photo" and reported safety to the people across the country who care about them. After that, the two crews will complete on-orbit rotation at the space station.