Krypton Evening News | Goldman Sachs strategists raise the target for the S&P 500 to 8,000, driven by AI and earnings; Alibaba to incorporate the 13th-month salary into year-end bonuses

Large companies:

Cheng Yixiao: The ARR of Keling AI was nearly $500 million in March, a fourfold increase compared to the same period last year

36Kr learned that at the earnings conference call for the first quarter of 2026, Cheng Yixiao, the founder and CEO of Kuaishou Technology, stated that in March 2026, the Annual Recurring Revenue (ARR) of Keling AI was nearly $500 million, a fourfold increase compared to $100 million in March last year. Cheng Yixiao said that the high - speed revenue growth of Keling AI in the first quarter was mainly driven by the dual engines of API call revenue from B - side enterprise customers and subscription revenue from P - side paid members. Both the number of users and the average monthly payment amount of Keling AI have achieved high - speed growth. In terms of retention, both B - side enterprise customers and P - side paid members have maintained a good retention trend, reflecting the technological and product strength of Keling AI in professional creative scenarios.

TSMC CEO: The average bonus increase for all employees this year will exceed 30%

In response to the concerns raised by employees on the Internet recently about the incentive policy, Wei Zhejia, President of TSMC, told internal employees that the average bonus increase for all employees this year will exceed 30%. As a core enterprise in the global artificial intelligence industry chain, TSMC has further increased the incentive for employees while achieving significant growth in performance. Wei Zhejia's statement also reflects that against the backdrop of the unprecedented prosperity of the artificial intelligence industry and the substantial growth of corporate revenue, leading enterprises in the industry are facing increasing pressure and need to give more of the growing revenue back to employees. (Sina Finance)

Ninebot Inc.: Chairman Gao Lufeng Proposes to Repurchase Shares Worth 150 million - 300 million Yuan

36Kr learned that Ninebot Inc. announced that Gao Lufeng, the company's chairman and actual controller, proposed that the company use its own funds to repurchase some of its Chinese Depositary Receipts (CDRs) through centralized bidding. The total repurchase funds shall be no less than 150 million yuan (inclusive) and no more than 300 million yuan (inclusive), and the repurchase price shall not exceed 60 yuan per share. The shares repurchased this time will all be used for cancellation and reduction of the registered capital.

Alibaba to Incorporate the 13th - Month Salary into Year - End Bonuses

On May 27th, according to an internal letter sent to all employees by Alibaba, starting from the fiscal year 2027, the 13th - month salary for employees will be incorporated into the year - end bonus, which will be renamed the "Walking Together Award". The payment time will be changed to be in line with the year - end bonus. That is, the year - end bonus will consist of two parts: the "Walking Together Year - End Award" and the "Performance Year - End Award", presented separately. This means that after the merger of the 13th - month salary and the year - end bonus at Alibaba, the payment time of the 13th - month salary will be postponed from the month of the Spring Festival each year to April - May. (Beijing Business Today)

Pinduoduo: Revenue in Q1 Reached 106.2 Billion Yuan, a Year-on-Year Increase of 11%

36Kr learned that Pinduoduo released its financial report for the first quarter of 2026. The report shows that Pinduoduo's revenue in the first quarter was 106.2 billion yuan, a year-on-year increase of 11%; the net profit was 1.25 billion yuan, a year-on-year decrease of 15%. This is mainly due to the continuous investment in the "100 Billion Support" program and the supply chain, which has affected the short-term performance to some extent.

Douyin's Lifestyle Services Introduces AIGC Creation Management Rules, Handles Over 800,000 Pieces of Illegal Product Promotion Content in Q1

36Kr learned that on May 27th, Douyin's Lifestyle Services held the "2026 Service Experience and Governance Open Day" event, sharing the platform's latest progress in consumer rights protection and experience improvement. In the past year, the violation rate of low - quality content on the platform decreased by 82% year - on - year, and the number of reports of fake stores dropped by 90%. In terms of proactive rights protection, the platform completed 3.9 million advance compensation orders, involving an amount of 240 million yuan; the "Peace of Mind" service covered 180 million consumers, with a total of 650 million service orders.

New Products:

The order volume of the new AITO M9 series exceeded 11,000 units within one hour

36Kr learned that Yu Chengdong posted a message saying that the order volume of the new AITO M9 series exceeded 11,000 units within one hour.

Tencent PC Manager Enters the Mac Ecosystem, Launches AI Agent Security Protection for the First Time

36Kr learned that on May 27th, Tencent launched the "AI Agent Security Manager" - the Mac version of Tencent PC Manager for the Mac ecosystem. With four core capabilities of cleaning and acceleration, AI application security, privacy protection, and AI application aggregation, it fills the long - standing gap of a "manager - type" tool in the Mac ecosystem. Among them, the "Lobster Manager" built into the PC Manager is the industry's first AI application protection tool, providing all - round security protection for the increasingly popular AI Agents nowadays. Orders for the New AITO M9 Series Exceed 11,000 in One Hour

Today's Views:

Goldman Sachs strategists raise the target level of the S&P 500 index to 8,000, driven by AI and earnings

Strategists at Goldman Sachs Group expect the S&P 500 index to return 17% this year, joining their peers at Morgan Stanley and Deutsche Bank. The Goldman Sachs team led by Ben Snider said that the earnings growth driven by the artificial intelligence (AI) boom will further boost the stock market. Therefore, they raised the year - end target level of the U.S. benchmark index to 8,000, abandoning the previous forecast of 7,600. (Sina Finance)

The humanoid robot index tumbled sharply. Yifan Transmission and Shangwei New Materials responded to the stock price fluctuations

Today, the humanoid robot index dropped by 3.53%. Yifan Transmission fell 14.18%, and Shangwei New Materials fell 10.86%. Yifan Transmission responded that the stock price decline might be due to sector rotation, and the company's operations were stable with normal daily orders. It recently terminated a major asset restructuring and switched to general equity investment. Shangwei New Materials stated that market fluctuations were uncontrollable and reminded that its consumer - grade intelligent robot business was still in the R & D stage and there were uncertainties. (China Securities Journal)

Other news worthy of attention:

HKMA: Three New Regulatory Measures Added for Investment Accounts of Mainland Investors, Account Opening Checks to Be Conducted Retroactively to January 2023

In response to the matter of "some banks in Hong Kong requiring customers to sign a statement when opening investment accounts", the Hong Kong Monetary Authority (HKMA) responded today that the relevant regulatory requirements were issued to all authorized institutions on May 22. Materials provided by the HKMA show that registered institutions are required to take three additional measures when opening and managing investment accounts for mainland investors. These include: First, close investment accounts opened using suspicious or forged documents. Identify customer investment accounts opened using suspicious or forged documents since January 2023 or any other period specified by the HKMA. Such documents include identity documents. Second, close inactive investment accounts with zero balances. Specifically, this refers to investment accounts held by mainland investors that have no asset balance as of May 22, 2026 (the reference date) and have had no customer-initiated activities in the 12 months prior to the reference date. Third, when opening a new investment account, obtain a written statement from the mainland investor confirming that all funds used to support investment activities and related settlements come from legal sources outside the Chinese mainland. Relevant documents show that the newly added regulatory measures only apply to investment accounts, including investment accounts within comprehensive bank accounts. Non - investment functions (such as ordinary savings, current and time deposits, payments, loans, and credit cards) are not within the scope of the relevant measures. At the same time, the relevant additional measures apply to individual customers and do not apply to corporate and institutional customers. (Caixin)