Krypton Evening News | China Securities Regulatory Commission approves Unitree Robotics' STAR Market IPO registration; Did Meta drag down tech stocks? Industry insiders: Claims of excess computing power are a misinterpretation
Large companies:
Aofei Entertainment: Net profit in the first half of the year is expected to increase by 305.30% - 413.38% year-on-year
36Kr learned that Aofei Entertainment released its performance forecast for the first half of 2026. It is estimated that the net profit attributable to shareholders of the listed company in the first half of 2026 will be between 150 million yuan and 190 million yuan, a year-on-year increase of 305.30% - 413.38%.
Nestle Says Consumers Avoid Medium-sized Packaged Products Due to Price Pressure
Nestle stated that in the context where U.S. consumers are focusing on product affordability and buyers are turning to large-sized or economy-sized packages while avoiding medium-sized products, the company is making efforts to control prices. (Sina Finance)
Yantaihu Co., Ltd.: Net profit in the first half of the year is expected to increase by 131.38% - 142.95% year-on-year
36Kr learned that Yantaihu Co., Ltd. released a performance forecast, expecting the net profit in the first half of the year to be between 6 billion yuan and 6.3 billion yuan, a year-on-year increase of 131.38% - 142.95%.
Did Meta "Drag Down" Tech Stocks? Industry Insiders: The Alleged Excess Computing Power Is a Misinterpretation
On July 2nd, A-share tech stocks tumbled, with significant declines in sectors such as semiconductors, computing power hardware, and memory chips. Taking the "Twin Innovation Boards" where tech stocks are concentrated as an example, the ChiNext Index and the STAR Market Composite Index dropped by 5.71% and 5.64% respectively. Judging from the market situation, the sharp decline of A-share tech stocks stemmed from the market's interpretation of Meta's news of selling computing power externally as an indication of excess computing power. However, many industry insiders believe that this news is a misinterpretation. Meta's sale of computing power does not mark the end of AI capital expenditure but rather signifies the maturity of the AI infrastructure business model. (Securities Times)
Douyin E-commerce Launches "Portrait Protection Function"
36Kr learned that recently, Douyin E-commerce held an "Open Day for Infringement and Counterfeiting Governance" event in Beijing and officially announced the launch of the "Portrait Protection Function". The platform will use functions such as model recognition, verification of authorization information, and blocking the spread of similar content to actively identify and intercept transaction-related infringing content such as AI counterfeiting and unauthorized use of materials. According to Douyin E-commerce, as of June 2026, the platform has cumulatively disposed of over 12,000 infringing and counterfeiting influencer accounts, over 48,000 counterfeiting goods for promotion, and over 261,000 counterfeiting promotional content. Meanwhile, the "Portrait Protection Function" of Douyin E-commerce has actively blocked 92,000 infringing accounts.
People familiar with the matter refute the rumor of a leadership change of the Chinese side's top executive at FAW Audi: It's false news
According to media reports, regarding the rumor that the Chinese side's top executive at FAW Audi was reported to have a leadership change, a person familiar with the matter from FAW Audi said that it's false news. Currently, Guo Yongfeng is still the Executive Deputy General Manager of FAW Audi Sales Co., Ltd. Since September 1, 2025, Guo Yongfeng has started to serve as the Executive Deputy General Manager of FAW Audi Sales Co., Ltd., comprehensively responsible for the sales, after - sales service, network, and brand marketing of all domestic and imported cars of FAW Audi in China. (Caixin)
PwC expects Hong Kong's IPO fundraising to reach HK$380 billion in 2026
PwC expects Hong Kong's IPO fundraising to reach HK$380 billion in 2026. (Caixin)
Beijing Junzheng: DRAM prices will continue to rise in the third quarter, and there is a possibility of further price adjustments in the fourth quarter
36Kr learned that Beijing Junzheng recently stated during an institutional research that DRAM prices have risen significantly. Domestic customers started to adjust prices in the first quarter, and continued to do so in the second quarter. Meanwhile, overseas customers also gradually began to adjust prices. It is expected that the revenue and gross profit margin will continue to grow in the second quarter. Prices will continue to rise in the third quarter, and the price policy for the fourth quarter will not be determined until the third quarter. However, currently, the supply in the fourth quarter is still relatively tight, so there is a possibility of further price adjustments. As customers use some SRAM products to replace DRAM solutions, the prices of some SRAM chips also increased in the second quarter. NOR Flash prices increased in both the first and second quarters, with a generally smaller increase than that of DRAM. Although the production capacity of NOR Flash is also tightening, it is much better than that of DRAM. The company's Flash product line achieved good revenue growth in the first quarter, with a relatively large contribution from the increase in sales volume. The prices in the third quarter are determined based on specific products and specific customers, and not all products will necessarily see price adjustments. As the company's memory chips continue to increase in price, it is expected that the gross profit margin of each quarter will increase quarter-on-quarter.
The CSRC Approves the Registration of Unitree Technology's IPO on the STAR Market
36Kr learned that the China Securities Regulatory Commission (CSRC) has approved the registration application of Unitree Technology Co., Ltd. for its initial public offering (IPO) of shares and listing on the STAR Market.
Xiaohongshu: Since the start of the World Cup, the daily average number of football - related posts has increased by 10 times month - on - month
36Kr learned that recently, Xiaohongshu released the "World Cup Group Stage Viewing Report". During the group stage, the total viewing time of the platform's live broadcasts reached 90 times that before the start of the World Cup, and the number of viewers of the platform's live broadcasts reached 40 times that before the start. The exposure volume of World Cup and football - related content reached 28.2 billion. Since the start of the World Cup, the daily average number of football - related posts has increased by 10 times compared with that in May.
Chanel to Acquire Parisian Shirt Manufacturer Charvet
On July 2nd, it was reported that Chanel said it would acquire Charvet, a men's shirt manufacturer headquartered in Paris. The terms of the deal were not disclosed. Charvet is a high - end French shirt manufacturer founded in 1838, mainly engaged in the custom - made business of shirts and ties, and has a store on Place Vendôme in Paris. (Sina Finance)
Ideal to "Restructure" the Product Department: Split Vehicle and Intelligent Driving Products and Merge into R & D
36Kr learned from multiple informed sources that Ideal is about to conduct a new round of organizational structure adjustment around the product decision - making process. It plans to split some key functions of the product department and merge them into the R & D department. In terms of group relationships, the Ideal Auto product department is led by Fan Haoyu and includes electric vehicle body, spatial intelligence, autonomous driving terminal products, interaction design, platform operation, App and official website, etc. A person familiar with the adjustment trend told 36Kr that the current adjustment mainly targets the core product definition teams such as electric vehicle body and autonomous driving. Specifically, it has been confirmed that the electric vehicle body definition team of the product department will be split and merged into the vehicle R & D department led by Liu Liguo; the autonomous driving terminal product team will be merged into the base model R & D team led by Zhan Kun. "Maybe some product personnel related to user experience will also join Liu Jie's product line." an informed source said. Original Article
Investment and Financing:
German Drone Manufacturer Quantum Systems Secures $1.2 Billion in Financing
German defense technology company Quantum Systems said on Thursday that it has raised $1.2 billion in new funds, which values the drone manufacturer at approximately $8 billion. This is also one of the largest private equity financings ever received by a European defense technology company. This valuation is about eight times higher than it was a year ago. The Munich-based company said that this round of financing was supported by international investors. (Sina Finance)
"Lingzhu" Completes Angel Round Financing
36Kr learned that the AI creation platform "Lingzhu" recently completed an angel round of financing, led by Wei Haijun, an angel investor of TikTok.
New Products:
Qinhuai Data Launches the Industry's First Commercial Project of Computing Power Center SST
36Kr learned that on July 2nd, the industry's first commercial project of intelligent DC power supply for the computing power center SST (Solid State Transformer) was officially put into operation at the Qinhuai Data Capital Ring · Sangyuan Cloud Computing Industrial Base, marking a paradigmatic breakthrough in the power supply and distribution system of the computing power center from "power frequency" to "high frequency" and from "AC" to "DC".
Other News Worth Paying Attention To:
China's software business revenue increased by 10.3% year-on-year in the first five months
Reporters learned from the Ministry of Industry and Information Technology that in the first five months of this year, China's software and information technology service industry maintained a good operating trend, with software business revenue increasing by 10.3% year-on-year. Data shows that in the first five months of this year: China's software business revenue reached 6,245.1 billion yuan, a year-on-year increase of 10.3%; the total profit of the software industry increased by 2.2% year-on-year; software business exports reached 27.65 billion US dollars, a year-on-year increase of 12.8%. (CCTV News)