9 am Kr 36 | Pop Mart soars, DUAN Yongping earns 1 billion yuan a day; Nokia launches its first WeChat phone priced at 199 yuan; Didi responds to "passenger defecating in the car"
Today's Hot Topics Guide
- Jensen Huang Reveals Details of "Catching a Flight", Trump Called Just as He Was About to Leave
- Domestic Flight Fuel Surcharge to Be Lowered for the First Time Since June 5th
- New Railway Regulations to Be Implemented: Passengers Who Refuse to Compensate for Unpaid Fares Will Be Restricted from Buying Tickets
- iPhone 17 Series Sells Over 30 Million Units in China, with Nearly Half Being Pro Max Versions
- SpaceX Reportedly Lowers IPO Valuation Target to at Least $1.8 Trillion
Top 3 Big News
Pop Mart Rises, Duan Yongping Earns Nearly HK$1 Billion in a Single Day
Pop Mart has witnessed a strong upward trend. On May 29, its intraday maximum increase exceeded 12%. As of the time of the reporter's dispatch on the 29th, it closed at HK$176, with a gain of 8.98%. This upward market trend is related to the large - scale layout of well - known investor Duan Yongping. According to the information disclosed by the Hong Kong Stock Exchange on May 27, well - known investor Duan Yongping took a stake in Pop Mart, and the market value of his holdings at that time exceeded HK$11.7 billion. With the rise of the stock price on the 29th, his single - day book profit was close to HK$1 billion. After Pop Mart's sharp rise on the 29th, Duan Yongping posted the same emoji on the Xueqiu platform twice in a row, which sparked heated discussions in the market. (China Newsweek)
Nokia Launches First Micro Chat Phone, Priced at $199
On May 29th, Nokia launched the 200 4G phone, priced at $199. It is the first micro chat phone, which can make video calls with other phones through WeChat mini - programs. It is mainly targeted at students, the elderly, and the market for backup phones. According to the sales page of the official flagship store, this phone is equipped with a 2.4 - inch screen and a 1450mAh battery, and supports dual - SIM dual - standby and full - network 4G. Through HMD Micro Chat, it enables interconnection between feature phones and between feature phones and smart phones, supporting functions such as voice calls, video calls, text and picture chats, group chats, electronic fences, and positioning. This phone also has functions like group chats and electronic fences, and is equipped with applications such as Himalaya and Migu Music. It is worth noting that Nokia officially responded in the comment section of its official account that due to chip issues, this new phone cannot support Wi - Fi. In response to netizens' comments that it has squeezed the performance of the feature phone to the extreme, the official said bluntly, "We've done our best." (Jiemian News)
Didi Responds to "Passenger Excreted in the Car", Platform to Cover Cleaning Fees for Driver
Previously, according to reports from multiple media outlets, recently in Nanchong, Sichuan, a ride-hailing driver encountered a passenger excreting in the car. Driver Master Chen said that the passenger was sober throughout the journey. After the passenger got off the car, he had to spend over 1,000 yuan to replace the seat.
On May 29th, "Didi Chuxing" issued a statement saying that it had noticed the relevant incident of "driver spending 1,000 yuan to replace the seat due to passenger excreting in the car". It was very concerned about Master Chen's experience and promptly verified the details of the order. The order took place in the early morning of May 27th and was a proxy-ordered one. After the passenger got off the car, Master Chen found that the rear seats and floor mats of the vehicle were contaminated by excrement, and the vehicle was damaged and unable to operate normally. Master Chen immediately chose to call the police and submitted a problem feedback to the platform.
After receiving the feedback, we immediately contacted Master Chen and the actual order placer successively, hoping to urge them to apologize to the driver and bear the driver's losses. The person who placed the order said that they didn't know the actual passenger and couldn't get in touch with them. Currently, Master Chen's vehicle is still under repair. The platform is also actively cooperating with the relevant work of the police and assisting in following up and handling the matter. Considering the damage to Master Chen's vehicle and the impact of this incident, the platform will help Master Chen cover the costs related to seat replacement and vehicle cleaning, and provide a comfort subsidy to help the master resume normal order-taking as soon as possible. Didi said that it will strive to protect the rights and interests of drivers. At the same time, it also calls on passengers to travel in a civilized manner. If there are special situations during the journey, please communicate with the driver in time. Thank you for your understanding and cooperation. (Yicai Global)
Big Companies/Big Events
The return capsule of the spacecraft successfully landed, and the Shenzhou-21 crew returned triumphantly
According to the China Manned Space Engineering Office, at 20:11 on May 29, 2026, Beijing time, the Shenzhou-21 astronaut crew aboard the Shenzhou-22 manned spacecraft successfully landed at the Dongfeng Landing Site. The on-site medical supervision and medical care personnel confirmed that the astronauts Zhang Lu, Wu Fei, and Zhang Hongzhang were in good physical condition, and the mission was a complete success. (CCTV News)
BYD Unveils China's First 4nm Process Intelligent Driving Chip
36Kr learned that on May 28th, BYD held the "Dare to Act" intelligent strategy press conference and launched China's first 4nm process intelligent driving chip - Xuanji A3, which has started large - scale mass production. It supports L3 and L4 autonomous driving. Through the efficient collaboration of three chips, it achieves a total computing power of over 2100 TOPS while taking into account power consumption control and computing power utilization.
Jensen Huang Reveals Details of "Catching a Plane", Trump Called When About to Depart
According to China Central Television's Chinese International Channel, Jensen Huang, the founder and CEO of NVIDIA, revealed the behind - the - scenes details of his visit to China with Trump during an interview. Jensen Huang said that President Trump called him when he was about to depart. "He didn't know I wasn't originally going," and then insisted that he go with him. "So I quickly packed up." Jensen Huang also said that he was on the U.S. West Coast at that time, while "Air Force One" was in Washington, D.C. Then he flew to Alaska to meet Trump and boarded "Air Force One" to fly to China. (Jiemian News)
Lei Jun said that over one-third of YU7 owners are women, and over half are Apple users
It is reported that on the morning of May 29, Xiaomi Auto held the delivery ceremony for the first batch of YU7 GT owners at the delivery center of the Xiaomi Auto Factory. Lei Jun, the founder, chairman, and CEO of Xiaomi, and Ms. Shu Qi, the brand spokesperson of Xiaomi Auto, handed over the cars to the first batch of Xiaomi YU7 GT owners together. Lei Jun said that Xiaomi YU7 is loved by many car owners in the technology and finance industries. Among the YU7 owners, over one-third are female car owners, and over half are Apple users. Shu Qi herself is also the owner of a Xiaomi SU7 Max in golden pink and is currently waiting for delivery. She should be able to pick up the car soon. Although she doesn't have a driver's license yet, after seeing the YU7 GT, she said she is tempted to get a driver's license. (IT Home)
Domestic airline fuel surcharges to be lowered for the first time starting from June 5
On May 29, Qunar received notices from multiple airlines. Starting from June 5, 2026 (ticketing date), for adult passengers, a fuel surcharge of 150 yuan will be charged per passenger for routes over 800 kilometers, and 80 yuan per passenger for routes of 800 kilometers or less. This represents a reduction of 20 yuan/10 yuan respectively compared to before the adjustment. In April and May this year, domestic fuel surcharges were continuously and significantly increased. This is the first reduction this year. (Yicai)
Duan Yongping Donates 10,000 Shares of Kweichow Moutai Stock
On May 29th, according to the official WeChat account "Beautiful Anfu" of the Anfu County Party Committee and Government in Jiangxi Province, Duan Yongping donated 10,000 shares of Kweichow Moutai stock to Anfu County. On May 26th, the donation ceremony of the "Anfu County Duan Yongping Education Special Fund" was successfully held in Nanchang. Well - known entrepreneur and investor Duan Yongping donated 10,000 shares of Kweichow Moutai Co., Ltd. he held to the Anfu County Charity Association free of charge to specifically support the development of education in Anfu. It is reported that the 10,000 shares of Kweichow Moutai stock donated this time will be retained as the long - term fund of the "Anfu County Duan Yongping Education Special Fund". The derivative rights such as annual dividends and dividends of the stock will be used as the available funds of the special fund to continuously, stably and long - term support the improvement of education quality, reward teachers and students, and assist students in Anfu. (Jiemian News)
He Xiaopeng Responds to Why Robots Don't Have Faces: There Must Be a Certain Gap with Humans
He Xiaopeng, the chairman of XPeng Group, said in an interview that robots can wear clothes and even have hair, but they cannot have their own faces. There must be a certain gap with humans. He Xiaopeng said that the reason robots cannot have their own faces is partly due to the uncanny valley effect, and also due to other legal and social effects. When faced with the host's question "How to face the competition with competitors", he said: I think we are competitors with every company, and also allies, and may also be competitors. I believe that NIO, XPeng, and Li Auto will each give different views and understandings this time. (Sina Tech)
Sunwoda: The company has mass-produced mobile phone batteries with a capacity of 10,000 mAh
36Kr learned that Sunwoda stated on the interactive platform that the company has mass-produced mobile phone batteries with a capacity of 10,000 mAh.
New rules will be implemented for railways: Passengers who violate regulations and refuse to make up the fare will be restricted from purchasing tickets
Reporters learned from China National Railway Group Co., Ltd. that the new version of the "Regulations on Railway Passenger Transport of China National Railway Group Co., Ltd." will be officially implemented on June 1st. For the first time, the new passenger regulations have made provisions to restrict ticket purchases for passengers who violate regulations and refuse to make up the fare.
For the first time, the new passenger regulations have made provisions to restrict ticket purchases for passengers who violate regulations and refuse to make up the fare, and have included it in the agreed matters of the railway passenger transport contract. If passengers engage in violations such as "boarding without a ticket", "boarding with forged, counterfeited or altered tickets", "inconsistency between the ticket, ID and the passenger", "using a low - fare ticket to take a high - fare seat", "using a discounted or preferential ticket without the required reduction vouchers or not meeting the reduction conditions" and refuse to make up the fare, railway station and train staff will inform them on - site of the violation and the subsequent ticket - purchase restrictions. When these types of passengers who refuse to make up the fare purchase tickets again, the railway transport enterprise will automatically prompt through 12306 or manually prompt at the ticket window to inform them of the ticket - purchase restrictions. (Xinhua News Agency)
Unexpected Selling Triggered by Samsung Electronics and SK Hynix Hitting New Highs; Total Net Outflow of Funds Reaches $58.6 Billion This Year
Global investors have been pouring into the stock trading of Samsung Electronics and SK Hynix this year, driving these two memory stocks up by 147% and 245% respectively. However, the soaring stock prices have brought unexpected troubles to some funds. Since the stock prices of these two companies have repeatedly hit new highs, they have reached the 10% limit on the holding ratio of a single stock in some funds, forcing these funds to sell these two stocks. This forced selling undoubtedly highlights the congestion in the current memory market and may further increase volatility. As of May 28, global investors have net-sold South Korean stocks worth $63.6 billion, which is the largest single-month selling volume since data began in 1999. Among them, the total net outflow of funds from Samsung and SK Hynix this year has reached $58.6 billion. (Caixin)
iPhone 17 series sells over 30 million units in China, with Pro Max version accounting for nearly half
According to third - party market statistics, the popularity of the iPhone 17 series in the Chinese market far exceeds industry expectations, and the cumulative sales since its launch have exceeded 30 million units. Relevant statistics show that as of the 20th week of 2026, that is, from May 11th to 17th, the total sales of the iPhone 17 series in China have reached approximately 30.4055 million units, and its overall market performance is remarkable. Domestic users favor the top - of - the - line iPhone 17 Pro Max far more than other models, and this consumption preference also intuitively reflects the high - end purchasing power of domestic consumers. The background activation data released by a digital blogger shows that among the above - mentioned cumulative total sales, the cumulative activation volume of the iPhone 17 Pro Max has exceeded 13.2 million units, the cumulative activation volume of the iPhone 17 Pro has exceeded 7.8 million units, and the cumulative activation volume of the basic - model iPhone 17 has also exceeded 9.16 million units. (Kuaikeji)
Seres Responds to Tesla's FSD Entering China: FSD Simulates the Driving Logic of Human Vision
On May 29th, at the 4th Future Mobility Pioneers Conference, Zhang Zhengping, the chairman of Seres Automobile, shared his views on the comparison between Huawei's Qiankun Intelligent Driving and Tesla's FSD. He stated that the superiority or inferiority of the two intelligent driving systems should ultimately be objectively judged by the market. When talking about the specific technical routes, Zhang Zhengping pointed out: "Which intelligent driving system is better should be answered by the market. The all-new AITO M9 is equipped with six lidars, which is not inferior to FSD in this regard. Additionally, FSD simulates the driving logic of human vision, while Huawei's Qiankun Intelligent Driving can achieve a state of 'seeing more than just what the human eye can see'." (IT Home)
Apple's Siri Undergoes Its Biggest Overhaul in Nearly 15 Years, with More AI Features to Be Launched
Apple's highly anticipated major upgrade to Siri will be the core highlight of the next - generation software updates for iPhones, iPads, and Macs. Schematic diagrams produced by Bloomberg show the redesigned Siri interface, a brand - new chatbot app, and other major updates to iOS 27 that Apple plans to announce at the Worldwide Developers Conference (WWDC) on June 8. These images are based on information seen by Bloomberg and messages provided by people familiar with the matter. An Apple spokesperson declined to comment. The company usually tests multiple functional designs internally, and the final version released in June may differ from the current design. (Sina Finance)
SpaceX is reported to have lowered its IPO valuation target to at least $1.8 trillion
According to people familiar with the matter, SpaceX's current target valuation for its initial public offering (IPO) is at least $1.8 trillion. Last month, reports said its target valuation exceeded $2 trillion. However, people familiar with the matter revealed that the rocket, data, and artificial intelligence company lowered its target valuation after consulting with advisors and investors. People familiar with the matter said that details such as the IPO's issuance size and valuation are usually adjusted based on feedback from all parties before pricing. According to previous reports, SpaceX is expected to officially launch its IPO roadshow as early as June 4 and set the price as early as June 11. (Sina Finance)
The United States ushers in a financial experiment of "kids investing in stocks", with millions of newborns starting to buy ETFs at birth
With the launch of an app called "Trump Account", a large - scale and decades - spanning financial experiment has officially entered the final stage before its launch. As background, the "Trump Account" is a tax - deferred investment project established by the US government last year. The goal is to make children automatically become stockholders from birth, personally experience the growth of savings through compound interest, and then take over the account on their 18th birthday and decide how to use the money (or continue investing). The funds in the account will be automatically invested in the default qualified low - cost index funds. Based on the approximately 3.6 million births in the US last year, it is estimated that the number of people participating in this investment experiment will be at least over 10 million. (Cailian Press)
OpenAI: Investigating issues affecting user logins and use of ChatGPT
OpenAI said on its website that the company is investigating issues that may prevent users from chatting with ChatGPT, logging in, or creating accounts. According to data from the network status monitoring website Downdetector, as of 11:04 p.m. Eastern Time, there have been approximately 5,000 reports of related issues. (Caixin)
Samsung Electronics: Starts Shipping Samples of 12-Layer HBM4E Chips to Major Global Customers
It is reported that Samsung Electronics said on May 29 that it has started shipping samples of 12-layer HBM4E chips to major global customers. (Jiemian News)
Construction of Tesla's Exclusive Optimus Robot Factory Begins, with a Planned Annual Production Capacity of Up to 10 Million Units
It is reported that the exclusive factory for Optimus humanoid robots within Tesla's Gigafactory in Texas has officially started construction. The planned annual production capacity can reach up to 10 million units. The factory will set up a second - generation production line and plans to achieve large - scale mass production in the summer of 2027. After full operation, the daily output will be approximately 27,000 units. (Jiemian News)
The Cutting - Edge of AI
Step 3.7 Flash Released by Jieyue
36Kr learned that according to Jieyue Xingchen, Jieyue has officially released and open - sourced Step 3.7 Flash. It is reported that Step 3.7 Flash is a new - generation Flash model launched for the Agent production stage, with systematic optimization carried out around Agent, Coding, Search, and multi - modal workflows.
AI Computing Power Drives Demand Explosion, Domestic Optical Communication Products Sell Well Overseas
Currently, orders for domestic optical communication products are booming, and they are popular in the international market, showing a prosperous situation with both volume and price rising. The export orders of many enterprises have been scheduled until 2028. In the A-share market, the concepts of optical fiber and optical modules have continued to heat up since the beginning of this year. As of the close on May 28th, the year-to-date increases of the Wind Optical Module (CPO) Concept Index and the Wind Optical Fiber Concept Index have both exceeded 100%, reaching 104.76% and 108.48% respectively. (Economic Information Daily)
Amazon Employees Inflated AI Data, Causing a Surge in Computing Power Costs, and the Company Shut Down the Usage Ranking List
Amazon recently shut down an internal AI usage ranking list. Previously, employees deliberately inflated AI call volumes to climb the rankings, causing a significant surge in the company's computing power costs. According to two people familiar with the matter, this technology giant with a market value of $2.9 trillion informed employees this week that its internal service "Kirorank" has been taken offline. This tool was originally used to score users of the developer platform Kiro, with the scores based entirely on their AI activity volume. The reason for taking it offline is that some employees abused AI agents (automated programs that can perform tasks on behalf of users) to perform a large number of meaningless operations in order to top the rankings. (Sina Finance)
Going Public
Huicheng Co., Ltd.: Application for H-share issuance and listing submitted to the Hong Kong Stock Exchange
36Kr learned that Huicheng Co., Ltd. announced that the company submitted an application for the issuance of H-shares and listing on the Main Board of the Hong Kong Stock Exchange on May 29, and published the application materials for this H-share issuance and listing on the website of the Hong Kong Stock Exchange on the same day.
Longsys Files for Listing on the Hong Kong Stock Exchange
36Kr learned that according to documents from the Hong Kong Stock Exchange, Shenzhen Longsys Electronics Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CITIC Securities and Citigroup.
Financial Reports of Large Companies
Costco's total revenue in the third quarter reached $70.53 billion, exceeding market expectations
Costco announced on May 28 that its total revenue in the third quarter was $70.53 billion, a year-on-year increase of 12%, with a forecast of $69.62 billion; earnings per share were $4.93, a year-on-year increase of 15.2%, with a forecast of $4.91. (Jiemian News)
CHAGEE: Total GMV in the first quarter reached 7.918 billion yuan, and plans to repurchase up to $150 million in ADSs in the next 12 months
36Kr learned that on May 29, CHAGEE announced its financial and operating results for the first quarter of 2026 (ending March 31, 2026). During the reporting period, CHAGEE achieved total revenue of 3.546 billion yuan, a year-on-year increase of 4.5%; total GMV reached 7.918 billion yuan, a quarter-on-quarter increase of 8.1%; and adjusted net profit was 507 million yuan. As of March 31, 2026, CHAGEE had 7,531 stores globally, with the number of members exceeding 248 million, and a net increase of over 10 million in the quarter. In addition, CHAGEE's board of directors has approved a share repurchase plan. The company plans to repurchase up to $150 million in American Depositary Shares (ADSs) within the next 12 months, subject to market conditions, regulatory requirements, and other factors.
Investment and Financing
AI insurance platform Corgi raises $106 million in financing, valued at $2.6 billion
The artificial intelligence insurance platform Corgi announced on May 28th local time that it has completed a $106 million financing led by investment firm TCV, and the company is valued at $2.6 billion. Nico Laqua, the company's CEO, said that Corgi achieved profitability last month, and the new round of financing will help the company expand into more areas, including freight, small businesses, and the sports industry. (Jiemian News)
"Yiqi Future" Completes Tens of Millions of Yuan in Series A Financing
36Kr learned that "Yiqi Future" announced the completion of tens of millions of yuan in Series A financing, jointly invested by shareholders such as Tongchuang Weiye, Youshan Capital, and Hangzhou Capital Runmiao Fund. The angel shareholder, NetEase, continued to support the company. The company was incubated by NetEase Fuxi and focuses on massage robots, with self-developed 3-second acupoint recognition algorithms and six-axis robotic arm motion control algorithms. The funds from this round will be used for technological iteration, product research and development, and large-scale mass production to accelerate market expansion at home and abroad.
Cool Products
Pre - sale of the All - new Mengshi M817 Launched
36Kr learned that the all - new Mengshi M817, jointly developed by Mengshi Automobile and Huawei Qiankun, made its global debut and officially launched its pre - sale. The official pre - sale price starts from 370,000 yuan.
Compiled | Xu Jiatong