Krypton Evening News | Doubao Professional Edition Officially Launched; Reports Say Apple Will Begin Mass Production of Its First Foldable iPhone in Late July; Huatai Securities: High Overseas Costs Provide Support, Long-Term Aluminum Prices Should Not Be Viewed Pessimistically

Large companies:

Huadong Medicine: Its wholly-owned subsidiary received the approval notice for the clinical trial of HDM2005 for injection
36Kr learned that Huadong Medicine announced that its wholly-owned subsidiary, Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd., received the "Approval Notice for Drug Clinical Trials" issued by the National Medical Products Administration. The clinical trial application for HDM2005 for injection in combination with PD-1 monoclonal antibody and AD for the treatment of classical Hodgkin lymphoma has been approved. This drug is an ADC drug targeting ROR1 and is currently undergoing multi-indication clinical development for malignant tumors. This approval will enhance the company's core competitiveness in the field of oncology treatment. However, there is uncertainty from clinical trials to drug marketing, and it will have no significant impact on the company's short-term performance.

SK Hynix has submitted an IPO application in the United States

It is reported that SK Hynix has submitted an IPO application in the United States and plans to list on the Nasdaq. Fubon Securities, Citigroup, Goldman Sachs, and JPMorgan Chase are the underwriters for its initial public offering (IPO). (Caixin Press)

Jiangxi Qiyunshan Food Co., Ltd. Passed the Listing Hearing at the Hong Kong Stock Exchange

36Kr learned that documents from the Hong Kong Stock Exchange showed that Jiangxi Qiyunshan Food Co., Ltd. updated its post - hearing information package, which means the company passed the hearing for its IPO at the Hong Kong Stock Exchange.

Samsung Responds to Plan to Repurchase Stocks Worth Nearly 90 Trillion Won for Bonuses: Under Consideration, Details Not Finalized

On June 24th, Samsung Electronics stated in a regulatory filing that the company is considering a stock repurchase to pay bonuses, but the specific schedule and scale have not been determined. Samsung Electronics said that the matter is still under discussion, and a separate announcement will be made within a month at the latest. Previously, it was reported that Samsung is preparing to repurchase stocks worth nearly 90 trillion won for employee bonuses, and details may be announced soon. (Jiemian)

Bilibili Announces a New $300 Million Stock Repurchase Program

Bilibili has announced the launch of a new $300 million stock repurchase program. Under this program, the company can repurchase up to $300 million worth of its own shares within 24 months starting from today. (Cailian Press)

JiMeng AI Launches the Native 4K Version of Seedance 2.0 VIP

On June 23rd, the web version of JiMeng AI's Seedance 2.0 VIP officially launched the native 4K function, supporting ultra - clear output. Different from post - processing super - resolution, native 4K can retain more local details from the source. High - density information such as the hair of characters, the texture of clothing, the lines of buildings, and the texture of materials can be presented more completely and clearly, further enhancing the picture details, color levels, and light and shadow performance, and is suitable for high - quality creative scenarios such as post - production of films and television, brand visuals, and advertising and marketing.

Investment and Financing:

“Qingyan Precision” Completes Hundreds of Millions of Yuan in Series B3 Financing

36Kr learned that “Qingyan Precision,” a physics AI company affiliated with Tsinghua University, recently completed hundreds of millions of yuan in Series B3 financing. This round of financing was led by the Beijing Green Energy Fund and BAIC Capital, with Yulon Group participating as a follow - on investor. The funds from this round will be used for the recruitment of core talents, the construction of data collection centers, the research, development, and large - scale deployment of multi - modal data collection equipment, as well as the procurement of computing power and the construction of infrastructure for model training.

"Suiqing" Completes Angel Round Financing Worth Tens of Millions of Yuan

36Kr learned that "Suiqing", a mining robot company, has recently completed an angel round of financing worth tens of millions of yuan. The investor is Lianyungang Jinqiao Fund. The funds from this round will be mainly used for the engineering iteration of core robot products for coal mine underground, the construction of the supply chain, and the expansion of the team.

Doubao Professional Edition Officially Launched

36Kr learned from Doubao that the Doubao Professional Edition is officially launched today. The Doubao office task mode has integrated the Doubao 2.1 series of models capable of executing Agent tasks. This mode supports operations on local computers, browser usage, Skills invocation, and scheduled tasks. It comes with a built - in Office suite, and supports professional image and video design, as well as the generation and sharing of application websites. The professional edition adopts a three - tier pricing plan: 1. Standard Package: The monthly subscription is 68 yuan. It includes all the benefits of the free version, integrates the 2.1 Pro model, and offers more than 5 times the quota of functions such as office tasks and expert mode compared to the free version. 2. Enhanced Package: The monthly subscription is 200 yuan, with 4 times the quota of the standard package. 3. Premium Package: The monthly subscription is 500 yuan, with 10 times the quota of the standard package.

New Product:

TikTok Launches 3D Content Creation Tool "Create the World"

TikTok is accelerating its layout in the 3D UGC interactive content track. On June 24th, TikTok first unveiled "Create the World" at the Volcengine FORCE Conference. This is a 3D world creation tool that integrates multiple Agents. Creators can generate publishable and playable virtual world models through multi - round conversations, material building, and scene editing. It is understood that "Create the World" mainly serves the creation of the TikTok 3D UGC scene "Duoshan Zizai World". After the works are created, they can enter the social and recommendation distribution scenarios of TikTok and Duoshan. Currently, creators can apply for the internal test synchronously on the official website of the "TikTok Virtual Creation Platform".

Reports say Apple will start mass-producing its first foldable iPhone in late July

People in the supply chain revealed that Apple has finally determined the key specifications of the foldable iPhone, including the display, casing, and mechanical components, and has entered the stage of preparation for mass production. Apple will start mass-producing its first foldable iPhone in late July. Although there have been recent rumors that the release of this model may be postponed due to hinge issues, it is understood that Apple will still release it as originally planned in September. (Cailian Press)

Today's view:

Huatai Securities: High overseas costs provide support, no need to be pessimistic about long - term aluminum prices

36Kr learned that a research report by Huatai Securities stated that recently, the market's concerns about overseas primary aluminum capacity expansion from 2027 to 2028 have been continuously intensifying, with the focus on the under - construction production capacities in Indonesia, India, Angola, Saudi Arabia and other places. However, considering the domestic production capacity ceiling constraint, the uncertainty of power supply for overseas projects, and the supply - demand balance calculation, Huatai Securities believes that the current market pricing for the long - term supply - demand pattern of aluminum prices is overly pessimistic. The long - term overseas supply - demand can still maintain a tight balance. If the global power shortage intensifies and the new AI - related demand surges, it may further push the aluminum supply - demand pattern towards a significant shortage. In terms of cost, the full - cost center of high - cost smelters may continue to rise in the future. Huatai Securities estimates that the bottom support for overseas spot aluminum prices (including spot premiums) from 2027 to 2028 will still be above about $3,000 per ton, corresponding to more than about 22,000 yuan per ton in the domestic market. According to the calculation, the current valuation of the aluminum sector in the equity market is significantly lower than the above - mentioned price support, and the valuation may be in an undervalued state.

Other notable news:

The Ministry of Commerce Releases the "Measures for the Investigation of Industrial Chain and Supply Chain Security"

36Kr learned that in order to implement the "Regulations of the State Council on the Security of Industrial Chains and Supply Chains" (State Council Decree No. 834), carry out the investigation of industrial chain and supply chain security, and safeguard the security of China's industrial chains and supply chains, the Ministry of Commerce has formulated the "Measures for the Investigation of Industrial Chain and Supply Chain Security", which are hereby released and shall come into force as of the date of release.

National Radio and Television Administration: Micro-short dramas shall implement a filing and publicity system and a distribution license system based on classification by investment amount, themes, etc.

36Kr learned that the National Radio and Television Administration has organized the drafting of the "Measures for the Development and Management of Micro-short Dramas (Draft for Comment)", which is now open to the public for comments. It is proposed that micro-short dramas be classified into Class I, Class II, and Class III micro-short dramas according to investment amount, themes, etc., and a filing and publicity system and a distribution license system shall be implemented based on the classification.