8:00 am Kr 36 | After a three-year suspension, Tianya Community officially resumed access; Guangdong refuted the rumor that AI will be used to grade college entrance examination papers; MiniMax plans to list on the STAR Market.

Today's Hot Topics Guide

• OpenAI says it used AI to solve an "80-year-old" math problem
• Amazon: Shut down the token tracking list
• Elon Musk refutes rumors of SpaceX's valuation cut
• Executives of Sanhua Intelligent Control "sold shares for their children's education" and cashed out over 430 million yuan
• Haagen-Dazs China is reported to be acquired by Ningji

TOP 3 Big News

Tianya Community Officially Resumes Access

Starting from June 1st, Tianya Community has officially resumed access. According to the "Explanation on the Progress of Tianya Community's Resumed Access" released by the official Weibo of "Tianya Community", since April 1st, 2023, Tianya Community has been suspended from access due to arrears in telecommunications IDC fees. In order to ensure the complete preservation of Tianya's data involving hundreds of millions of users and the resumption of access to Tianya Community, the restart team of Tianya Community has been continuously carrying out self - rescue efforts for three years. In February this year, with the support of the New Tianya Joint Working Group, a plan to resume access to Tianya Community before June 1st, 2026 was established. In addition, the data migration of Tianya Community is still waiting for relevant approval processes. According to the current progress, the overall data recovery of Tianya Community will be completed within June. Additionally, due to various reasons, the domain name tianya.cn is temporarily unavailable. Starting from 0:00 on June 1st, www.tianya.net is officially open for access, and the browsing function of some of Tianya Community's best - quality posts will be available first.

It is understood that Tianya Community is one of the most well - known forums in the early days of the Chinese Internet. It was founded in 1999. Initially, it was a stock forum for stock - trading enthusiasts like Xing Ming to communicate and learn. Later, it gathered many high - quality netizens and content. Novels such as "Ghost Blows Out the Light" and "Those Things in the Ming Dynasty" were serialized on Tianya Community, and the first - generation internet celebrity "Sister Furong" also emerged here. (IT Home)

Guangdong Debunks Rumor of Using AI for College Entrance Exam Grading

Recently, a piece of information stating that "Guangdong will use AI to grade the summer college entrance exams" has been circulating in the online space. In response, the Guangdong Provincial Education Examinations Authority stated that the claim of "using AI for grading" is an unfounded rumor. In fact, to ensure the fairness of the exams, since 2024, Guangdong has launched a real - time intelligent monitoring system in all provincial examination rooms, using artificial intelligence technology to analyze abnormal examination behaviors. The netizen who posted the message misinterpreted "AI - assisted exam invigilation" as "AI grading", which is purely a misunderstanding of the concept. Guangdong has never announced or arranged for AI to participate in the grading work. In the invigilation process, AI - assisted exam invigilation mainly plays the roles of observation, early warning, and assistance. In the grading process, Guangdong adheres to a rigorous and strict manual approach. In the formal grading, all subjective questions of each subject are independently graded by two people. If the grading difference exceeds the threshold, a third - grader will be involved. In addition, real - time monitoring is carried out, and the system randomly checks the grading results to promptly detect and correct problems such as misgrading and missed grading. (Nanfang Daily)

MiniMax Plans to List on the STAR Market

On the evening of May 31, MiniMax Group Inc. (hereinafter referred to as "MiniMax") announced that the board of directors has resolved to explore the preliminary proposal for the issuance of RMB-denominated shares, which may involve entering into agreements with professional advisors and conducting consultations with relevant securities or other regulatory authorities. The company has hired professional advisors to provide advice on meeting the listing requirements of the STAR Market and has signed a tutoring agreement. The issuance of RMB-denominated shares will depend on market conditions and necessary regulatory approvals. After the company's successful listing on the Hong Kong Stock Exchange, it has continuously evaluated the capital market, including an assessment of listing on the STAR Market. According to the website of the China Securities Regulatory Commission, MiniMax signed a tutoring agreement with CITIC Securities on May 29, 2026, officially launching the A-share IPO process.

Public information shows that MiniMax listed on the Hong Kong Stock Exchange in January this year. It took only a little over four years from its establishment to the listing, setting the fastest record for a global AI company from its founding to IPO. (NBD)

Large Companies/ Major Events

Ningji Responds to Rumors of Acquiring Häagen-Dazs China

On May 28th, market sources reported that Ningji, a domestic lemon tea chain brand, is in talks to acquire the store business of Häagen-Dazs in China. A person close to Ningji told a reporter from NBD that it's not convenient to disclose the information at present and they will wait for the other party to make an announcement. According to the official mini-program of Häagen-Dazs, as of May 29th, 2026, it has 171 stores in the Chinese mainland. Compared with June 2025, the number of its stores has decreased by 92. Previously, in September 2021, Häagen-Dazs executives revealed that there are six or seven hundred Häagen-Dazs stores around the world, and 400 of them are in China. (NBD)

The implementation rules for the 3C certification have undergone new adjustments, and multiple new safety tests have been added for mobile power banks.

The State Administration for Market Regulation recently issued the "Announcement on Adding Mandatory Product Certification Standards for Mobile Power Banks and Other Products and Releasing a New Version of the Implementation Rules", adjusting and improving the implementation requirements for the CCC certification. The "Announcement" focuses on clarifying three aspects of content: First, add the mandatory national standard GB47372 - 2026 "Safety Technical Specifications for Mobile Power Banks" as the basis for the CCC certification. Second, revise and release a new version of the CCC certification implementation rules, implement classified supervision of enterprises, strengthen post - certification supervision, and ensure that all relevant parties in the certification activities assume their main responsibilities. Third, in combination with the implementation date of the mandatory national standard, it is clear that there will be a transition period before March 31, 2027. Starting from April 1, 2027, the new version of the rules must be fully implemented. Among them, for mobile power banks that have already obtained certification and the lithium - ion batteries and battery packs used inside them, the certificate conversion should be completed before April 1, 2027. (IT Home)

Elon Musk Debunks Rumors of SpaceX's Valuation Downgrade

It is reported that American aerospace company SpaceX is seeking a valuation of no less than $1.8 trillion in its initial public offering (IPO), lower than the target valuation of over $2 trillion reported in the market in April this year. The report states that this change is a prudent adjustment made by the company after communicating with investment banking advisors and some investors, and the valuation may be further increased during the roadshow phase based on market feedback. However, on the 29th, SpaceX CEO Elon Musk posted on social platform X to debunk the rumors, denying the relevant reports and simply replying "False". (CCTV Finance)

Nikon Aims to Break ASML's Monopoly with Affordable Lithography Machines

Against the backdrop of ASML of the Netherlands almost monopolizing the global lithography machine market, Nikon, a Japanese lithography giant, is preparing to launch a counter - attack. Yasuhiro Omura, the new president and CEO of Nikon in Japan, revealed in a recent exclusive interview with Nikkei Asia that the company will challenge ASML's monopoly in the global lithography equipment market by significantly reducing the price of ArF (argon fluoride) immersion lithography machines. Relying on the cost advantage of self - producing core components, Nikon is currently in talks with several large chip manufacturers in the United States and Asia, and some of the cooperation is close to the stage of signing procurement orders. (Kuaikeji)

ZLF Jewelry Apologizes for "Selling Substandard Pure Silver Bracelets"

36Kr learned that recently, ZLF Jewelry Co., Ltd. was fined 739.75 yuan and had its illegal income of 231.17 yuan confiscated by the Shenzhen Market Supervision Administration for producing and selling substandard pure silver bracelets in a random inspection. On May 29, "ZLF Jewelry" issued a statement saying that the involved product was only tested using the surface detection method of GB/T18043 - 2013, which is easily affected by factors such as oxidation, and no destructive testing was carried out. The standard clearly stipulates that the surface detection results cannot be used alone as a basis for judgment. ZLF said that it has sent the products of the same batch to the National Gemstone Testing Center for destructive testing according to the national standard GB 11887 - 2012, and the results are qualified.

UK Foreign Secretary Cooper to Visit China and Hold the 11th China-UK Strategic Dialogue

According to a message on the website of the Ministry of Foreign Affairs, on May 31, the spokesperson of the Ministry of Foreign Affairs announced that at the invitation of Wang Yi, a member of the Political Bureau of the CPC Central Committee and Foreign Minister, UK Foreign Secretary Cooper will visit China from June 1 to 3 and hold the 11th China-UK Strategic Dialogue. (CCTV News)

With the World Cup approaching, all members of the Iranian team have not yet received U.S. visas

There are less than two weeks left until the opening of the FIFA World Cup jointly hosted by the United States, Canada and Mexico. Among the 48 teams participating in the World Cup, the situation of the Iranian team is full of uncertainties. As of May 30, all members of the Iranian team, coaching staff and logistics team have not received visas for the United States and Mexico. According to CCTV News, the 2026 FIFA World Cup is scheduled to be held from June 11 to July 19 in the United States, Canada and Mexico. This is the first World Cup with 48 participating teams, and the number of matches has also increased significantly to 104. (The Paper)

Shenzhen's ride-hailing market is saturated, and the official issues a risk warning

Recently, the Shenzhen Transportation Bureau released the operation dynamics and risk warnings of the ride-hailing industry in Shenzhen in April 2026. Currently, the overall market is saturated. In April, the average daily number of orders completed per ride-hailing vehicle in the city was about 13.01. The official seriously reminds that those who intend to engage in this industry should conduct full research, make rational decisions, and be vigilant against six major risks: First, some platforms use the "work/guaranteed income model" to collect transaction fees. If the company operates poorly, drivers will suffer losses; Second, unauthorized middlemen are likely to cause disputes; Third, beware of false advertisements such as "earn over 10,000 yuan a month" to avoid vehicle return defaults; Fourth, recognize the "no penalty without a license" scam. Unlicensed operation will be punished and insurance companies will refuse to compensate; Fifth, guard against car rental tricks such as "no deposit" and "high returns". Check the terms carefully before signing the contract; Sixth, be vigilant against the risk of insurance invalidation caused by the car rental company's overdue insurance payment. (Shenzhen News Network)

Baoding Technology: The company has never had any contact or business cooperation with NVIDIA, and there are currently no sales of high-speed copper-clad laminates M7 and M9.

36Kr learned that Baoding Technology announced that the company clarified that the recent online information about its products being included in NVIDIA's supply chain system certification is false information. The company has never had any contact or business cooperation with NVIDIA. The company's copper-clad laminate products are conventional products, there are no AI copper-clad laminates, and there are no sales of high-speed copper-clad laminates M7 and M9. The copper foil products are mainly ordinary copper foils, and the ultra-low profile HVLP copper foil is still in the customer certification stage. The revenue in the first quarter of 2026 was approximately 100,000 yuan, accounting for only 0.01%. In 2025, the company's copper-clad laminate and copper foil business suffered losses, with a net profit of -18.5099 million yuan. There have been no significant changes in the company's fundamentals. Investors are reminded to pay attention to risks.

Executives of Sanhua Intelligent Control Reduced Holdings and Cashed Out Over 430 Million for "Children's Education"

It is reported that Sanhua Intelligent Control, which wears the halo of "Embodied Intelligence" in the A-share market, has recently been pushed to the forefront of public opinion due to the reason for shareholding reduction stated by executives in an "Investor Relations Activity Record" as "for children's education expenses and living needs". After the stock price soared in 2025, many core management members reduced their holdings at the high point of the stock price. In the first quarter of this year, the company's performance growth rate declined significantly, which forms a sharp contrast with the market's high expectations for the company's robot business.

At the performance briefing on May 26, 2026, some investors asked why many executives of the company reduced their shares. In response to investors' questions about the shareholding reduction of many executives, the company replied that the main reason for the chairman's shareholding reduction was personal capital needs, and the funds from this shareholding reduction would continue to be used for industrial investment. The shares reduced by the other five directors or senior managers mainly came from the equity incentives accumulated over the years, and the funds from this shareholding reduction were mainly used for children's education expenses and living needs. (Reported by National Business Daily)

Zhongji Xuchuang Urgently Refutes a “Speech by the Chairman”: The Chairman Didn't Attend the Related Forum and the Content Is Fabricated

On May 30th, Zhongji Xuchuang issued an official statement stating that some online media, self - media, and social media platforms have spread an artificially fabricated article titled "Full Text of the Speech by the Chairman of Zhongji Xuchuang at the 2026 Optical Interconnection Forum (May 28th, Shanghai)" and related content. The entire content of this article is fabricated and false. The company and its chairman, Liu Sheng, have never made the statements mentioned in this article. This article has nothing to do with the company and does not represent the positions of the company and its chairman, Liu Sheng, at all. We sincerely hope that investors make rational investment decisions, do not believe, spread, or create rumors. Do not easily believe all kinds of false rumors. Please refer to the company's official announcements to avoid being affected by false information. (21st Century Business Herald)

Shenzhen Issues 800-yuan Pension Consumption Vouchers

Since January 1st this year, the Ministry of Civil Affairs and the Ministry of Finance have launched a project to provide consumption subsidies for elderly people with moderate or severe disabilities in the pension service across the country. As the subsidies are gradually implemented in various places, pension service consumption vouchers are being "converted" into pension care services. Yang Zhiyu is a staff member of the sub-district office. Recently, his main task is to visit the elderly at home to assist them in receiving and using the consumption vouchers. The elderly can complete the registration through a mini-program and choose a nearby assessment point for evaluation. As long as they meet the moderate or severe disability level, they can receive an 800-yuan consumption voucher every month and select corresponding services according to their needs. The consumption vouchers can be used in installments. Currently, for the home-based pension services covered by the pension service consumption subsidy policy in Shenzhen, 50% of the fees can be deducted, with a maximum of 800 yuan per month. (CCTV Finance)

Toyota Responds to Halting the Development of the Next-Generation All-Electric Lexus Sedan

Recently, there were reports that Toyota would halt the development of the mass-produced model of the all-electric sedan "LF-ZC" under its luxury brand "Lexus". Toyota responded that the information is true. The reason for halting the development of this model is "part of the adjustment of the company's overall vehicle development projects in consideration of changes in market demand". Toyota also emphasized that the company has only adjusted the development plans for some vehicles, which does not mean giving up BEVs (battery electric vehicles). (Yicai Global)

Fat Donglai: Newly Packaged Mineral Water to Stop Sales Due to Major Design Flaw, Redesign in Progress

On the evening of May 29th, Xuchang Fat Donglai Supermarket Co., Ltd. issued a statement saying that before the new packaged DL Natural Drinking Mineral Water was launched, it was found that there was a possibility of visual similarity between its bottle shape and appearance and those of existing similar products on the market. We immediately suspended the launch and actively communicated with the relevant brand manufacturers. After communication between the two parties, the product was launched on May 10th. The situation that occurred this time is a major design flaw on our part. Out of respect for and protection of original intellectual property rights and to avoid affecting the market of the other brand, after discussion by the Commodity Committee of Fat Donglai Group Company, it was decided that the first batch of the newly packaged DL Natural Drinking Mineral Water would stop sales after being sold out by May 31st, and the original packaged DL Natural Drinking Mineral Water would continue to be sold normally. We will also speed up the redesign of the new packaging, plan to complete the design in 3 months, and strive to launch it and meet everyone in September. (Jiemian News)

Meta Plans to Sell 10 Million Wearable Devices in the Second Half of This Year

It is reported that Meta plans to sell 10 million wearable devices in the second half of this year through measures such as launching new products and expanding sales markets, with the goal of achieving 6.8 million monthly active users of wearable devices by the end of the year. In addition, Meta plans to start testing an AI pendant next year. (Jiemian News)

Fenghua High - Tech: Rumors about NVIDIA certification and suspension of order acceptance are untrue

36Kr learned that Fenghua High - Tech announced that after verification, the company noticed that some media recently mentioned that the company "suspended accepting orders for all 0402 and 0603 chip resistors and MLCCs from agents". After verification, the above information is untrue. In order to carry out the upgrade of some digital systems and the adjustment of the product structure, the company suspended accepting orders for some products. As of the date of the announcement, the company has resumed accepting orders. The company also noticed that some media recently mentioned that it is "the only domestic enterprise that has passed NVIDIA's full - series MLCC certification". After verification, the above information is untrue. As of the date of the announcement, NVIDIA has not carried out any product certification for the company.

The forefront of AI

Amazon: Shut Down the Token Tracking List

It is reported that Amazon recently notified its employees that its "Kirorank" list has stopped service. This list was created by in - house developers and could be used to track employees' Token consumption. Its original intention was to promote the application of AI in business scenarios. However, contrary to expectations, some employees regarded AI agents as "Token - burning" tools without considering costs in order to pursue higher rankings and performance, resulting in the waste of the company's computing power resources. For this reason, Dave Treadwell, the senior vice - president of Amazon, admonished employees: "Please don't use AI just for the sake of using it." (Cailian Press)

ByteDance's Capital Expenditure Expected to Reach $70 Billion in 2026, and It Plans to Develop Its Own CPU

On May 27, according to people familiar with the matter, ByteDance is discussing significantly increasing its capital expenditure in 2026 to a maximum of $70 billion, nearly tripling the approximately $25 billion in 2025. The expenditure will mainly be used for building large - scale data centers and other AI infrastructure. The above figures are still preliminary estimates and may be adjusted quarterly according to market conditions. On May 28, another report said that facing the pressure of Intel and AMD raising prices by 10% to 35% quarter - on - quarter in recent quarters and having a delivery cycle of up to six months, ByteDance is developing its own CPU to reduce costs. It is also advancing two architecture routes, Arm and RISC - V, and the project is still in the early stage. According to a report in February this year, the scale of ByteDance's chip R & D team has exceeded 1,000 people, including more than 500 in the AI chip direction and about 200 in the CPU direction. (Yicai Global)

OpenAI Claims to Solve an "80-Year-Old" Mathematical Problem with AI

OpenAI recently claimed that its artificial intelligence (AI) reasoning ability has made another significant breakthrough, successfully solving a problem that has puzzled the mathematical community for 80 years - the "unit distance problem in the plane" proposed by Hungarian mathematician Paul Erdős in 1946. The problem Erdős posed was: If you draw several points on a piece of paper, how many pairs of points can have exactly the same distance (specifically, a distance of 1 unit)? Erdős proved that if these points are arranged in a grid, a considerable number of pairs of points with unit distance can be obtained. Subsequently, he conjectured that no other arrangement could be much better than the grid. For decades, people have been trying to prove that this conjecture is correct. However, OpenAI's model reached a different conclusion, indicating that there are arrangements better than the "upper bound" (the maximum range that will not be exceeded) predicted by Erdős. This means that instead of proving the conjecture, it disproved it. The research team at OpenAI pointed out that the solution given by the model is extremely counter - intuitive. Most mathematicians in the past defaulted to Erdős' conjecture being correct, so they were always looking for a proof. However, AI doesn't have such psychological baggage. It will try a large number of seemingly absurd directions, and it was ultimately in these attempts that a breakthrough was found. (The Paper)

SoftBank promises to invest 75 billion euros in building AI facilities in France

SoftBank promises to invest up to 75 billion euros to build a large - scale artificial intelligence computing cluster network in France. This project will become the largest data center project in Europe. It is also SoftBank's largest single - investment in artificial intelligence outside the United States. People familiar with the matter said that after French President Emmanuel Macron had dinner with Masayoshi Son in Tokyo in early April this year, the two sides quickly finalized this cooperation. SoftBank will take the lead in investing 45 billion euros in the first phase, and plans to build a computing power scale of 3.1 gigawatts in the Hauts - de - France region by 2031. There are also plans to add an additional 2 gigawatts of computing power later. (Sina Finance)

The nation's first full-stack AI platform for green computing power is launched

On May 30th, the nation's first full-stack AI platform for green computing power was officially launched and put into operation in the Hohhot Area of the Inner Mongolia Pilot Free Trade Zone, filling the gap in the regional one-stop comprehensive service trading of computing power models and tokens. The green computing power full-stack AI platform launched this time integrates one-stop core functions such as computing power scheduling and trading, intelligent model invocation, and token trading and settlement. It is understood that the platform is fully compatible with domestic chips and mainstream computing power architectures, and the first batch has connected more than ten mainstream models from three major telecommunications operators and leading technology manufacturers. According to user needs, the platform can integrate diverse computing power resources such as general computing, intelligent computing, and supercomputing from national access nodes. Through intelligent scheduling algorithms, it can achieve elastic allocation, efficient scheduling, and economic supply of computing power resources, providing users with convenient, low - carbon, high - quality, and cost - effective token trading services.

Going public in progress

Longxing Tianxia's IPO Application Accepted

The official website of the Shanghai Stock Exchange shows that on May 29, the IPO application of Guangdong Longxing Tianxia Technology Co., Ltd. (referred to as "Longxing Tianxia") for the main board of the Shanghai Stock Exchange was accepted. The sponsoring institution is China Merchants Securities. According to the information, the company's main business is the development, design, production and sales of sports shoes. In 2025, the company achieved an operating income of 5.834 billion yuan, and the net profit attributable to the parent company after deducting non - recurring gains and losses was 244 million yuan. (Sina Finance)

Investment and Financing

Commercial Manned Spaceflight Company Transcender Completes Hundreds of Millions of Yuan in Pre-A Round Financing

Recently, Beijing Transcender Manned Spaceflight Technology Co., Ltd. completed hundreds of millions of yuan in Pre-A round financing. This round was led by a leading Internet strategic investor, with industrial capital such as the listed company Toread Group participating in the investment. Existing shareholders Zhongtian Huifu and Binfu Capital continued to increase their investment, and Light Source Capital served as the exclusive financial advisor for this round. The funds from this round of financing will be mainly used for the R & D of the core system of the "Transcender No. 1 (CYZ1)" manned spacecraft, ground test verification, and key technology research. (STAR Market Daily)

Compiled | Chi Yu