8点1氪｜Xiaomi to launch Pengcheng series extended-range SUV; OpenAI's Chief Futurist announces departure; Zhang Xiaolong resigns as CEO and Chairman of the Board of Fenbi

Today's Hotspot Guide

• MIIT: AI coding tool Claude Code has security backdoor risks with severe hazards
• ByteDance adjusts performance rules: increases semi-annual incentives, strengthens assessment of ByteDance Values and leadership
• Saudi Aramco slashes prices to attract Asian buyers, international institutions are bearish on oil prices in the second half of the year
• EU Court of Justice dismisses Apple's appeal, upholds the "gatekeeper" designation for App Store and iOS
• JPMorgan: Investors underestimate the potential obstacles of merging Tesla and SpaceX

TOP 3 Major News

Xiaomi's New Vehicle Lineup Named SKYNOMAD, Lei Jun Responds to Launch Timeline

On July 8, the official Weibo account of Xiaomi Auto released a poster themed "SKYNOMAD" — a name combining "SKY" and "NOMAD" — featuring the Xiaomi brand logo. According to media reports, Xiaomi Auto's first range-extended SUV will belong to the new independent sub-brand "SKYNOMAD", with a scheduled official launch in the second half of 2026. SKYNOMAD is not the previously rumored "Redmi Car", but a new product model under Xiaomi Auto following the SU7 and YU7. It is reported that the model's internal codename is Kunlun N3, and the previously rumored "YU9" designation has been scrapped. On the same day, Lei Jun, Founder, Chairman and CEO of Xiaomi, officially announced the new Xiaomi Auto series SkyNomad on his personal account. When a netizen asked about the vehicle's release time in the comment section, Lei Jun replied, "It's coming soon." (JIEMIAN News, 36Kr)

OpenAI's Chief Futurist Announces Departure

On July 8 Beijing time, Joshua Achiam, OpenAI's Chief Futurist, announced in a social media post that he will leave the company this month after nearly nine years of service. The 34-year-old stated that there is no specific reason for his departure, which is the result of long and careful consideration. Now that the "secret" of AI's development potential is known to the whole world, it seems that this mission can also be achieved outside the walls of top cutting-edge labs. He said he still firmly believes that humanity can move towards a future full of peace, unprecedented prosperity, and infinite social and scientific possibilities, and whatever he does next, he will continue to dedicate himself to advancing this vision. (Jiêmian News)

Zhang Xiaolong Resigns as CEO and Chairman of the Board of Fenbi

36Kr learned that on July 8, Fenbi announced in a public statement that due to the need to handle other personal affairs, Zhang Xiaolong has resigned from his positions as executive director, chief executive officer, chairman of the board, member of the board remuneration committee, and chairman of the board nomination committee, and will no longer hold any position in the company, effective immediately. Fenbi also announced that Sheng Haiyan has been appointed as executive director, chief executive officer and chairman of the board, with the appointment taking effect on July 8.

AI Frontier

Tencent Announces Ex-OpenAI Researcher Yonglong Tian Has Joined the Company to Participate in VLM R&D

According to a relevant person in charge at Tencent, former OpenAI researcher Yonglong Tian has recently joined Tencent's Large Language Model department, and will be involved in the R&D of VLM (Vision-Language Model) going forward. This marks another instance of Tencent poaching talent from OpenAI. On December 17 last year, Tencent announced an upgrade to its large model R&D structure, newly establishing the AI Infra Department, AI Data Department, and Data Computing Platform Department, and appointing former OpenAI senior researcher Shunyu Yao as the Chief AI Scientist of the "CEO/President Office" (reporting to Martin Lau), while concurrently serving as the head of the AI Infra Department and the Large Language Model Department (reporting to Lu Shan). This incident once sparked widespread attention on social media. (The Paper)

Reports Say Trump Administration Lifts Restrictions on OpenAI's GPT 5.6

According to reports, the Trump administration has lifted restrictions on OpenAI's GPT 5.6, and the U.S. Department of Commerce has approved OpenAI to widely roll out its advanced GPT 5.6 model. (CLS)

SpaceX AI to Open Grok 4.5 to the Public on July 9

Elon Musk announced that SpaceX AI will make Grok 4.5 accessible to the general public on July 9. (CLSA)

OpenAI to Officially Launch GPT-5.6 Series on July 9

OpenAI has announced that it will officially release the GPT-5.6 Sol, Terra, and Luna editions to the public on July 9 local time. (JIEMIAN News)

OpenAI Unveils GPT-Live Voice Model to Make ChatGPT Conversations More Human-Like

OpenAI has officially launched its new-generation voice models GPT-Live-1 and GPT-Live-1 mini, delivering a comprehensive upgrade to ChatGPT's voice capabilities. The new models adopt a "full-duplex" architecture that supports simultaneous listening and speaking, allowing users to interrupt the AI at any point during its response, creating an interaction experience far closer to real human conversations. (Sina Finance)

Major Companies / Key Events

MIIT: AI Programming Tool Claude Code Contains Severe Security Backdoor Vulnerabilities

Recently, the Cybersecurity Threat and Vulnerability Information Sharing Platform (NVDB) of the Ministry of Industry and Information Technology detected that the AI programming tool Claude Code has severe security backdoor risks. Developed by the U.S.-based company Anthropic, Claude Code is an AI programming tool that can autonomously complete code writing, debugging, and other tasks based on text prompts. Due to its built-in monitoring mechanism, it can transmit sensitive information such as user geographic locations and identity identifiers back to remote servers without user consent. Affected versions of Claude Code range from 2.1.91 to 2.1.196.

Relevant organizations and users are advised to immediately conduct comprehensive inspections. For development terminals with the aforementioned affected versions installed, promptly uninstall the tool or upgrade to the latest secure version that has removed the relevant backdoor code. It is also recommended to strengthen the control of external network access permissions for development tools within core business network segments and enhance traffic monitoring to prevent unauthorized leakage of sensitive data. (Yicai Global)

ByteDance Performance Policy Adjustment: Enhanced Semi-Annual Incentives, Stricter ByteStyle and Leadership Assessments

News on the afternoon of July 8 states that ByteDance has issued an all-staff notice rolling out guidelines for the 2026 semi-annual performance review, which is set to launch on July 15. The notice specifies that starting from this review cycle, all employees with an overall performance rating of E or above will be eligible for semi-annual incentives. The company will ramp up incentive efforts: the calculation base will be adjusted from monthly base salary to total monthly compensation (monthly base salary + monthly options/RSUs); the payout structure will shift from 100% cash to 25% cash and 75% performance-related options/RSUs (both vest evenly on a monthly basis). Additionally, ByteDance has further clarified the impact of the ByteStyle framework and leadership principles on overall performance ratings. The notice notes that overall performance assessments are rooted in business deliverables, with comprehensive consideration given to alignment with ByteStyle and leadership principles. In most cases, overall performance ratings align with business outcome scores, but exceptional performance or deficiencies in upholding ByteStyle or leadership principles may serve as references for upward or downward adjustments to the final overall performance rating. (Sina Tech)

Bilibili Launches Web Content Publishing Platform "Toy" in Closed Beta, Usage Surpasses 8.5 Million Times

36Kr has learned that Bilibili launched a small-scale closed beta in June, rolling out the web content publishing platform "Toy". The platform supports one-click publishing of local creative webpages into interactive works (namely Toy works, referred to as Toy) that can be directly accessed and experienced on the platform. It is understood that since the closed beta launched more than a month ago, UP owners have uploaded over 300 works, covering multiple categories such as games, interactive narratives, tools, tests, reports, and picture albums. Meanwhile, public platform data shows that the total number of user experiences on the platform has exceeded 8.5 million times.

Gold Jewelry Prices See Collective Drop

In early trading on July 8, spot gold broke below the key $4,100 per ounce level right at the opening. On the same day, major domestic gold brands continued to lower their listed gold jewelry prices, with some brands seeing a drop of as much as 467 yuan per gram from their peak at the start of the year. Laofengxiang quoted 1,246 yuan per gram, down 467 yuan from its year-start high of 1,713 yuan; Chow Sang Sang quoted 1,249 yuan per gram, down 459 yuan from its 1,708 yuan peak at the beginning of the year; Chow Tai Fook quoted 1,252 yuan per gram, down 454 yuan from its year-high of 1,706 yuan; Lao Miao Gold quoted 1,255 yuan per gram, down 467 yuan from its early-year peak of 1,722 yuan. (China News Finance)

Yunda, Yuantong, and Shentong Exit Fengwang Investment

36Kr has learned from Tianyancha App that Fengwang Investment Co., Ltd. recently underwent industrial and commercial changes, with Shanghai Yunda Freight Co., Ltd., Shanghai Yuantong Jiaolong Investment Development (Group) Co., Ltd., and Shentong Express Co., Ltd. withdrawing from its shareholder roster. Founded in December 2013, Fengwang Investment Co., Ltd. has Huang Junhao as its legal representative, with a registered capital of 250 million RMB. Its business scope includes the R&D, design and production of express network software, as well as related technical consulting and technical services. The company is now wholly owned by Shanghai Yixu Langsheng Enterprise Management Co., Ltd.

Ahead of MiniMax's Lock-Up Expiry, Over 80% of Pre-IPO and Cornerstone Pledges Long-Term Holding

36Kr has learned that as the lock-up window for MiniMax's cornerstone investors approaches, over 80% of Pre-IPO and cornerstone shareholders have explicitly stated their long-term bullish stance and intention to maintain their holdings. The affirming institutions include cornerstone investors such as Aspex, Boyu, IDG, and Martis Fund, state-owned entities like China Life Investment and Xuhui Capital, as well as early shareholders including Alibaba, miHoYo, Yunqi Partners, and Matrix Partners China. This diverse group covers industrial strategic investors, international long-term funds, state-owned capital and local industrial investment platforms, market-oriented professional investment institutions, and public funds.

Multiple Banks Launch Consumer Loan Benefit Programs with Annual Interest Rates as Low as 3%

The summer consumer credit market has entered a concentrated marketing window period. Our reporter learned from interviews that many banks are seizing the peak summer consumption season to roll out intensive consumer loan benefit initiatives. Among these offers, some products have limited-time promotional annual interest rates as low as 3%, with multiple perks including interest subsidies, WeChat instant rebates, and interest deduction vouchers launched simultaneously. Interviewed experts noted that banks' consumer loan benefit campaigns are not only short-term marketing tactics to expand their young customer base in bulk during the peak season, but also the combined result of a favorable credit environment, domestic demand expansion policies, and banks' efforts to optimize their asset structure. While low-interest promotions can stimulate consumption in the short term, such a "price war" is unsustainable. The future competition focus of the consumer loan industry will shift from interest rate rivalry to institutions' capabilities in scenario construction, refined customer group management, and differentiated comprehensive service provision. (Securities Daily)

High-Heat Waves Spur Multi-Dimensional Cooling Demands, Driving the Expansion and Upgrade of the "Cooling Economy"

Since the start of summer, widespread persistent high-temperature weather across the country has triggered concentrated outbreaks of multi-level cooling demands covering people's livelihood heat relief, industrial production, and computing power heat dissipation, reshaping the traditional summer consumption landscape. The scorching heat has not only driven rising domestic and overseas orders for household and commercial refrigeration equipment, activating the peak season of traditional cooling consumption, but also pushed the entire society's power load to repeatedly hit record highs, continuously releasing the rigid demand for power supply assurance. Meanwhile, it has accelerated the iterative implementation of liquid cooling technologies in AI data centers. Analysts pointed out that from the booming production and sales of civilian home appliances and the stable supply and efficiency improvement of the power industry chain, to the expansion of the digital infrastructure thermal management track, the cooling economy is shedding its single seasonal attribute, realizing full-domain extension and business format upgrading towards the real industry and digital economy. Listed companies are seizing the structural opportunities, improving quality and efficiency in traditional tracks, taking the lead in laying out emerging tracks, and fully opening up new space for summer economic growth. (China Securities Journal)

Trump: US-Iran Memorandum of Understanding "Is Over"

U.S. President Donald Trump said at the NATO Summit on July 8 that he believes the US-Iran Memorandum of Understanding "is over". (Xinhua News Agency)

Anthropic Expands New York Office, Doubling Headcount to 1,000 Employees

According to reports, American artificial intelligence company Anthropic announced on July 7 local time that it will lease a 16-story office building located at 330 Hudson Street in Manhattan, New York, and plans to double its New York workforce to 1,000 employees this year. Anthropic stated that its pre-expansion New York office was already the company's largest workspace outside its San Francisco headquarters. (JIEMIAN News)

Multiple Sources from Apple Supply Chain: Apple's Foldable Device Expected to Deliver Normally, No Reports of Launch Delay

Recent market rumors suggest that Apple's first foldable device might face a launch delay due to complex assembly processes and low production yields. In response to this, our reporters interviewed several individuals working at companies within Apple's supply chain, who revealed that the product plan for Apple's foldable device was finalized long ago. Relevant enterprises have now entered their peak production season, and the product is in normal mass production. Multiple sources also stated that September delivery should be "no problem", and regarding the rumors of a delayed launch, they said they "have not heard of such a situation". (CLS)

Saudi Aramco slashes prices to attract Asian buyers, as international agencies turn bearish on oil prices for H2

Recently, major international crude oil suppliers have successively cut their selling prices. As the Strait of Hormuz gradually resumes navigation, geopolitical risk concerns in the market have cooled significantly, Brent crude oil prices have fallen sharply, and international thermal coal prices have returned to levels before the conflict broke out. On July 6, Saudi Aramco, the world's largest crude oil producer, sharply lowered the selling price of Arab Light Crude for the Asian market in August, aiming to attract Asian buyers. Multiple international agencies are bearish on oil prices in the second half of the year, with Citi predicting that Brent crude could drop to $60 per barrel by the end of the year. (Securities Times)

Netflix, Disney and YouTube are reportedly planning to bid for the U.S. broadcast rights for the upcoming World Cup tournaments, with the rights fee potentially reaching 2 billion U.S. dollars

According to reports, Netflix, Disney and YouTube intend to compete with Fox for the U.S. broadcast rights to the 2030 and 2034 FIFA World Cups, while Amazon and Apple may also join the bidding process. People familiar with the matter stated that negotiations between FIFA and potential media partners are expected to kick off within the next three months. In preliminary talks held earlier this year, FIFA informed various media companies that the English and Spanish-language broadcast rights for the U.S. market will most likely be sold as a bundled package, instead of being sold separately as was the case for previous tournaments including the 2026 World Cup. Executives from the media companies are drafting budgets ranging from 1.5 billion to 2 billion U.S. dollars for the U.S. market broadcast rights (covering both English and Spanish) for each individual tournament. (Jiemian News)

EU Court Rejects Apple's Appeal, Upholds 'Gatekeeper' Designation for App Store and iOS

On July 7 local time, the Court of Justice of the European Union ruled to dismiss Apple's appeal against determinations related to the Digital Markets Act (DMA), confirming the legality of the European Commission's decision to bring the App Store and iOS under DMA oversight and designate Apple as a "gatekeeper" for these two services. The court also ruled Apple's claims regarding the iMessage-related proceedings inadmissible. Apple may still file a further appeal with the EU's highest court. This ruling means Apple remains obligated to comply with the DMA's requirements for open competition, and could further strengthen the EU's resolve to use the DMA to reinforce regulation of large technology platforms. (JIEMIAN News)

JPMorgan: Investors Underestimate Potential Obstacles to a Tesla-SpaceX Merger

JPMorgan analyst Rajat Gupta stated that while a merger between Tesla and SpaceX "makes sense on paper," current speculation surrounding the combination underestimates the potential hurdles that could block the deal. Gupta noted that a merger would allow CEO Elon Musk to "unify the vision, mission, and engineering leadership of both major platforms," with the two companies' shared artificial intelligence ambitions serving as a "potential strategic glue." However, the analyst pointed out that potential obstacles include multi-jurisdictional regulatory approvals; symmetry in governance and voting rights; and the "perception that the combination would be a SPCX-led acquisition rather than a merger of equals." He added, "Overall, we will monitor SPCX's acquisition currency, the regulatory landscape, and Musk's voting power at Tesla as catalysts for a potential merger moving closer." JPMorgan indicated that if a transaction were to occur, the most likely structure would be a SpaceX-led, all-stock acquisition of Tesla, a deal structure that Gupta says would best bridge the valuation gap and avoid large cash outlays. Gupta has a neutral rating on Tesla with a $475 price target. (The Paper)

Ferrari Executive Says Chinese Carmakers Are Developing Products Like Fast-Moving Consumer Goods, with Driving Emotion Being an Obvious Weakness

On July 8, Emanuele Carando, Ferrari's Global Marketing Director, stated that he is not currently worried about being overtaken by emerging Chinese automakers. He believes that while Chinese carmakers have made remarkable progress in vehicle performance, driving emotion remains a clear shortcoming. Carando also noted that Chinese models differ drastically in overall characteristics from Ferrari's products. Chinese automakers are more like developing fast-moving consumer goods, launching new vehicles every month, which quickly makes older models in consumers' hands feel outdated. (Sina Auto)

Apple to Increase Collaboration Spending with Broadcom, Deal Expected to Exceed $30 Billion

Apple will increase its collaboration spending with Broadcom, and the agreement is expected to surpass 30 billion US dollars, which will support the production of over 15 billion American-made chips. (CLS)

Amazon Secretly Advances Alexa "Agent" Plan, Sky-High Costs Spark Internal Concerns

July 8 Reportedly, internal Amazon planning documents show the company is secretly pushing forward with a brand-new Alexa AI project codenamed "Moonraker", which aims to evolve the voice assistant into a competitive AI agent. However, the extremely high R&D and operating costs of the initiative have sparked widespread concerns within the company. (JIEMIAN News)

Zhipu: Placing New H Shares with Total Proceeds Expected at Approximately HK$31.41 Billion

36Kr learned that Zhipu announced on the Hong Kong Stock Exchange that it will place new H Shares under the general mandate at a placing price of HK$1,588 per placing share. Assuming all placing shares are fully allocated to the placees, the total gross proceeds from the placing are expected to be approximately HK$31.41 billion, while the net proceeds from the placing (after deducting commissions and estimated expenses) are expected to total approximately HK$31.375 billion. The Board believes that introducing additional funds through the placing will help further strengthen the company's capital base and support its continued advancement of foundational model R&D, technological innovation, commercial implementation, and ecosystem development.

SK Hynix's US IPO Secures Over 7x Oversubscription

According to people familiar with the matter, SK Hynix's U.S. initial public offering has secured over seven times oversubscription. The Korean memory chip manufacturer is scheduled to price the deal on Thursday. Several insiders noted that the offering of 177.9 million American Depositary Receipts (ADRs) drew subscriptions from global long-only funds, tech-focused funds, sovereign wealth funds, and global investors specializing in the Asian market. (Sina Finance)

The three major U.S. stock indexes closed mixed, with Alibaba surging over 11%

According to 36Kr, at the close on July 8, the three major U.S. stock indexes ended mixed: the Dow Jones Industrial Average fell 1.09%, the Nasdaq rose 0.2%, and the S&P 500 dropped 0.28%. Most large-cap tech stocks declined: Tesla and Meta fell over 2%, Microsoft and Google dropped more than 1%, Amazon slid 0.96%, SpaceX lost 0.78%, and Netflix dipped 0.77%; while Nvidia rallied over 3% and Apple gained 0.88%. Popular Chinese concept stocks broadly rose: Alibaba jumped over 11%, iQiyi climbed more than 5%, Baidu and JD.com advanced over 4%, and Pinduoduo and Tencent Music gained over 2%.

Ongoing IPO Process

Tongchuang Purun's STAR Market IPO review status changed to "Inquired"

36Kr learned that according to the official website of the Shanghai Stock Exchange, the STAR Market IPO review status of Shanghai Tongchuang Purun New Materials Co., Ltd. has been updated to "Inquired".

South Korean AI chip startup Rebellions, backed by Samsung Electronics, plans to go public in Korea next year

According to reports, Sunghyun Park, CEO of Samsung-backed South Korean AI chip startup Rebellions, stated that the company is planning to hold its initial public offering in South Korea during the first or second quarter of next year. Park noted that Rebellions has begun generating tangible revenue, "which is why we are collaborating with underwriting teams from JPMorgan Chase and Samsung Securities to prepare for the IPO." (JIEMIAN News)

Major Corporate Earnings Reports

Alibaba Q1 Earnings Preview: Cloud Growth Surpasses Expectations at 45%, E-Commerce Profits Recover, Flash Shopping Narrows Losses Faster Than Predicted

According to market sources, the preview of Alibaba's Q1 financial results for fiscal year 2027 shows that Alibaba Cloud's revenue growth has accelerated to around 45%, far exceeding market expectations. The overall e-commerce business (China E-Commerce + AIDC) has seen profit recovery, remaining flat year-on-year, which outperforms market consensus. Taobao Flash Shopping is reducing losses at a pace faster than the market anticipated. The preview indicates that in the cloud and AI sectors, Alibaba Cloud's quarterly revenue growth has accelerated to approximately 45%, well above market forecasts. Alibaba Cloud's EBITA margin continues to improve, rising from around 9.1% in previous quarters to the low double-digit range, fulfilling its earlier guidance. The preview reveals that Alibaba's fundamentals are solid, leaving considerable upside potential for its stock price. As of press time, Alibaba's Hong Kong-listed shares have risen by over 13%, trading at HKD 108.3 per share.

Zhongfu Industry: H1 2026 Net Profit Expected to Rise 154%-176% YoY

36Kr learned that Zhongfu Industry announced that its semi-annual net profit attributable to owners of the parent company for 2026 is estimated to be between 1.8 billion yuan and 1.95 billion yuan, representing a year-on-year increase of 154.42% to 175.62%. The performance growth is mainly driven by coordinated cost reduction across the upstream and downstream industrial chains, the high price level of electrolytic aluminum, the development of high value-added products in deep aluminum processing, and the advancement of energy-saving technological transformation projects.

Deye Co., Ltd.: H1 Net Profit Expected to Rise 75%-79% Year-on-Year

36Kr learned that Deye Co., Ltd. announced that its semi-annual net profit attributable to shareholders of the listed company for 2026 is expected to range from 2.668 billion yuan to 2.728 billion yuan, representing a year-on-year increase of 75.28% to 79.22%. The performance change is mainly driven by strong demand in the overseas energy storage market, as the company seized the market window to achieve substantial sales growth.

CICC: H1 Net Profit Expected to Grow 78%-90% Year-on-Year

36Kr learned that China International Capital Corporation (CICC) announced in its official filing that its net profit attributable to parent company shareholders for the first half of 2026 is projected to reach between RMB 7.708 billion and RMB 8.227 billion, representing a year-on-year increase of RMB 3.378 billion to RMB 3.897 billion, equivalent to a 78% to 90% growth rate. During the reporting period, the six core business segments including investment banking, equities, and wealth management delivered synergistic performance, while the international business also recorded solid growth, driving a significant year-on-year improvement in the company's overall operating results.

Haisco: Forecasts H1 Net Profit Growth of 513%-575% Year-over-Year

36Kr learned that Haisco announced its estimated semi-annual net profit attributable to shareholders of the listed company for 2026 will range from 790 million yuan to 870 million yuan, representing a year-over-year increase of 513.25% to 575.35%. The performance change is mainly driven by the sustained rapid growth in domestic sales of innovative drugs, as well as the receipt of down payments and other payments from multiple out-licensing transactions, which generated substantial licensing revenue.

Investment and Financing

"Kuizao Tech" Completes 1 Billion Yuan Financing, Securing the Largest Single Funding Round for Consumer-Grade 3D Printing in the Primary Market

36Kr has exclusively learned that consumer-grade 3D printing enterprise "Kuizao Tech" (Snapmaker) has recently closed a new financing round of 1 billion yuan. This round was led by Cathay Capital, followed by TAL Strategic Investment, with significant over-subscribed additional investments from existing shareholders such as Meituan Strategic Investment, Meituan Dragonball, Hillhouse Venture Capital, and Shunwei Capital. Gao Hua Capital served as the exclusive financial advisor. This marks one of the largest single financing deals in the consumer hardware sector since 2025, as well as the largest single funding round for consumer-grade 3D printing in the primary market over the past two years.

"CAS-SINSUN" Completes Hundreds of Millions of Yuan in Series A+ Financing

36Kr learned that "CAS-SINSUN" has officially announced the completion of a Series A+ equity financing of hundreds of millions of yuan. This round of financing was jointly led by Hongtai Fund and CDH Investments, with participation from well-known capital entities including Chengtong Fund, Dazhong Juding, and Guangzhou Suyuan, and additional investment from existing shareholder Dongjun Capital.

"Shanghai Xinghe" Secures Hundreds of Millions of Yuan in Financing

36Kr has learned that Shanghai Xinghe, a high-end machine tool manufacturer, has recently completed a new round of financing worth hundreds of millions of yuan. This financing round was led by Wuliangye Fund, with participation from listed company Megmeet, while Deep Blue Capital acted as the long-term exclusive financial advisor. The raised funds will be primarily allocated to R&D of high-end gear grinding machines, grinders, milling machines and other products, as well as to drive the commercialization of new offerings and expansion into overseas markets.

"Xingchen New Energy" Completes Nearly 500 Million Yuan in Series C Financing, Officially Launches Pre-IPO Round Process

36Kr learned that recently, "Xingchen New Energy" has closed its Series C financing of nearly 500 million RMB. Investors in this round include multiple institutions such as Shaoxing Xinghui, CSC Capital, Sichuan Green, East Money Investment, ICBC Capital, Changshi Investment, and Ace Energy. This marks another capital market boost for Xingchen New Energy following its over 300 million RMB financing completed last year. With the successful closing of this round, the company has officially initiated its Pre-IPO financing process.

Cool Products

Google's Launch Event Scheduled for August 12, Set to Unveil Pixel 11 Series Phones

Google announced that it will host the Made by Google launch event in New York at 18:00 ET on August 12, where the Pixel 11 series phones will be released. The Google Pixel 11 series will completely discontinue the 128GB configuration, with all models upgrading to a starting storage of 256GB, while the Pro, Pro XL, and Pro Fold variants will additionally offer a 1TB option. (JIEMIAN NEWS)

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