8:30 Kr-Laoxiangji has failed five times in its attempts to go public over five years; two fuel vehicles have re-entered the top ten of the sales rankings; Changxin Technology has disclosed its prospectus, with the issuance expected on July 16.
Today's Hotspot Guide
- Huabei apologizes for the failure of its repayment page to load normally
- SMIC's market value surpasses that of Kweichow Moutai
- iPhone 18 Pro Max sees a sharp rise in production costs, starting price may remain at 9999 yuan
- NVIDIA partners with Hugging Face to develop open-source robotics models
- Multiple U.S. states may file lawsuits next week to block the Paramount-Warner Bros. deal
TOP 3 Major News
Laoxiangji Fails in Its Fifth IPO Attempt Within Five Years
The Hong Kong Stock Exchange prospectus submitted by LXJ International Holdings Limited ("Laoxiangji") on January 8, 2026 expired on July 8. This enterprise, hailed as the "leader of Chinese-style fast food," has failed in its fifth bid to enter the capital market over the past five years. (JIEMIAN News)
Two Gasoline-Powered Models Re-enter Top 10 Sales Rankings
After a short absence from the top 10 sales charts, gasoline-powered vehicles have made a comeback. Against the market trend where the penetration rate of new energy vehicles has remained above 60% for three consecutive months, two gasoline-powered models — the Toyota Camry and the Volkswagen Lavida — re-entered the top 10 retail sales rankings for passenger vehicles in June 2026, breaking the pattern that no gasoline-powered vehicles appeared in the May sales rankings.
The May retail sales ranking for passenger vehicles released by DCarshow shows that the Toyota Camry ranked ninth with 17,114 units sold, and the Volkswagen Lavida took the 10th spot with 15,444 units. Back in May, the top 10 sales list was historically dominated by new energy models. At that time, the Lavida had dropped to 18th place, the Sylphy to 20th, and the Camry even fell to 24th. In the top 10 retail sales, the Tesla Model Y led with 38,654 units, the Geely Xingyuan ranked second with 33,359 units, and the Leapmotor A10 took third place with 24,865 units.
The recent rebound of gasoline-powered vehicles is driven by the relative decline in oil prices. In June, domestic refined oil prices saw two rounds of cuts, with the price of No. 92 gasoline dropping by a total of 0.81 yuan per liter over two months. The substantial reduction in vehicle usage costs has, to a certain extent, restored the economic efficiency of using gasoline-powered cars. On the other hand, with the continuous rise in prices of bulk materials and chips, new energy vehicles are facing increasing cost pressure, leading to narrowed discounts for some models. As the advantages and disadvantages offset each other, the cost-performance edge of gasoline-powered vehicles has rebounded temporarily. (Yicai Global)
CXMT Technology Discloses Prospectus, Plans July 16 Offering
36Kr learned that CXMT Technology has released its IPO prospectus for the Sci-Tech Innovation Board, with a planned offering date set for July 16. According to the disclosure, the company intends to initially issue 6.688 billion shares, accounting for approximately 10.00% of the total share capital after issuance (prior to the exercise of the over-allotment option); the initial strategic placement volume stands at 3.344 billion shares, representing 50.00% of the initial offering size.
AI Frontlines
Lingguang App Upgrades World Model Experience
36Kr learned that on July 9, the Lingguang App officially launched its upgraded world model experience feature. The new version integrates capabilities related to Lingbo's newly released world model, LingBot-World 2.0. Compared to the previous version that only allowed users to "walk around and take a look", the biggest change in the new release is that it makes the AI-generated world truly "playable". Users can not only wander and explore within the scene, but also perform skill-based operations just like playing a 3D game, with the AI generating new scene feedback in real time based on user actions.
OpenAI's Deployment Company Reportedly Set to Acquire Applied AI Firm Northslope
According to reports on July 8, OpenAI's independent business unit "OpenAI Deployments" has agreed to acquire applied artificial intelligence company Northslope. (Source: Jiemian News)
OpenAI Unveils GPT-5.6 Model Series, Flagship Sol Model Officially Launched for Public Access
On local time July 9, OpenAI announced the full official rollout of the GPT-5.6 model lineup, which includes the flagship GPT-5.6 Sol, the balanced Terra model, and the low-cost Luna model. Among them, Sol supports the brand-new Ultra mode, which can by default coordinate 4 AI agents to process complex tasks in parallel, further boosting efficiency in scenarios such as code development, scientific research, cybersecurity, and knowledge work. OpenAI stated that the GPT-5.6 series has achieved industry-leading performance in multiple benchmark tests, while significantly reducing inference costs and response times while maintaining or improving overall performance. The company also noted that GPT-5.6 is equipped with the most comprehensive security protection system to date, and officially supports programmatic tool calling, further enhancing its capability to automatically execute complex tasks. (JIEMIAN News)
SpaceX AI and Cursor Unveil Grok AI Model Tailored for Legal and Financial Scenarios
SpaceX AI has launched a new artificial intelligence model named Grok 4.5, developed in partnership with AI coding startup Cursor, aiming to narrow the gap with competitors such as Anthropic and OpenAI. Grok 4.5 is designed to handle complex, long-running tasks spanning software engineering, legal services, and financial services, with enhanced cybersecurity capabilities. The new model is built to "tackle complex and time-consuming tasks", including the software engineering domain that many top AI developers prioritize. Unlike Cursor's previous models, Grok 4.5 is engineered to address a broader portfolio of work, such as legal and financial services. (CLSA)
Major Corporations / Key Events
Apology for the Huabei Repayment Page Not Opening Properly
On the evening of July 8, a large number of users reported that the repayment page of Alipay Huabei failed to open normally when they tried to make repayments. According to screenshots uploaded by users, opening the Huabei page would display a "Network busy" message, or the bill page would show "Due to institutional maintenance, the bill cannot be viewed temporarily." In response to this issue, the official customer service of Alipay Huabei stated that the system upgrade has now been completed and the service can be used normally. We sincerely apologize for the inconvenience caused. The customer service also added, "Huabei provides a three-day grace period. Repayment completed within this grace period will not affect personal credit records." (China News Finance)
State Council: Promote Green and Low-Carbon Transformation of Industrial Structure, and Continuously Enhance the Competitive Advantages of Industries Such as New Energy, New Energy Vehicles, and Power Batteries
36Kr learned that the State Council has issued the "15th Five-Year Plan" Carbon Peaking Action Plan. The plan aims to promote the green and low-carbon transformation of the industrial structure. It will steadily and orderly advance the resolution of structural contradictions in key industries, and eliminate backward and inefficient production capacities, processes, and equipment in accordance with laws and regulations. Standardized management of cement production capacity will be strengthened. The plan will effectively control "two-high" (high energy consumption and high emission) projects, strictly enforce source control, rigorously conduct energy conservation and carbon reduction reviews and assessments, and implement the requirement of equivalent or reduced carbon emission replacement for new (reconstructed, expanded) "two-high" industrial projects. It will accelerate the development of green and low-carbon industries such as green energy, green manufacturing, and green services, continuously enhance the competitive advantages of industries including new energy, new energy vehicles, and power batteries, and foster industries such as hydrogen energy and green fuels. The plan will support the development of the carbon management service industry, promote third-party governance models such as energy management contracting, and advance the empowerment of green and low-carbon development through digital and intelligent technologies.
Laojun Mountain Scenic Area in Henan Announces "Monthly Salary of 60,000 Yuan" Recruitment
On July 8, Laojun Mountain Scenic Area launched a recruitment for "Sea of Clouds Observer", offering a monthly salary of 60,000 yuan. The selected candidate is required to stay on the peak of Laojun Mountain for 30 days (from July 16 to August 15, 2026), observe the changes of the Laojun Mountain sea of clouds every day, and the recruitment is open to netizens across the country. The application period is from July 8, 2026 to July 15, 2026 (the statistics of video engagement will close at 24:00 on July 15). The selection will be conducted by 24:00 on July 15, 2026, taking the number of likes on videos under the designated topic as the main evaluation criterion, and comprehensively considering the video content quality, communication effect and account compliance, to finally select one "Laojun Mountain Summer Sea of Clouds Observer - Guan Xiaohai".
According to the introduction of Laojun Mountain Scenic Area, every July and August is the period when the sea of clouds appears most frequently and has the best viewing effect in Laojun Mountain Scenic Area, Henan. To better record the changes of the sea of clouds and present the spectacular sea of clouds scenery of Laojun Mountain to the majority of netizens in a timely manner, the scenic area recruits sea of clouds observers from netizens across the country. It is reported that the observer needs to shoot and produce at least one sea of clouds video every day, and release and share it in the form of short videos. Some media called the Laojun Mountain Scenic Area to inquire about application matters, and the staff said that the application method has been announced on the scenic area's official WeChat account. There are a large number of inquiring applicants at present, but only one person will be selected nationwide. In addition, the sea of clouds observer needs to stay on the peak of Laojun Mountain for 30 days. As for the specific accommodation location on the mountain top, the aforementioned staff said that it has not been determined yet, and the scenic area will make arrangements after the candidate is confirmed. (Yicai)
Tinci Materials Responds to Viral "Solid-State Battery Tech Breakthrough" Post: Limited Impact Expected Within Five Years
According to media reports, a document titled "Minutes of the Solid-State Battery Technology Exchange Conference" circulated widely among investors on July 8. The document claimed that next-generation solid-state battery technology is expected to fully replace traditional lithium-ion battery materials such as electrolytes and separators, even suggesting that the electrolyte industry could be "completely phased out" and separator materials would also be superseded. "We do not see it that way," the board secretary of Tinci Materials explicitly rejected the narrative of solid-state batteries disrupting the industry during a phone interview. They stated that the annual sales growth and application scenarios for liquid-state batteries remain very robust. "We believe solid-state batteries will not capture a significant market share within five years, and this judgment is shared with CATL." (The Paper)
MetaX Inc. Issues Clarification Announcement: Rumors of "Product Orders Booked Through Next Year" Are Unfounded, Company Remains in Loss-Making State
36Kr has learned that MetaX Inc. has released a clarification announcement, noting that recent media reports claimed some of the company's product orders have been scheduled through next year or even later. After internal verification, the company confirms the aforementioned rumors are untrue. The statements made by Sun Guoliang, Chief Product Officer and Senior Vice President of the company, during the "Vibrant China Research Tour" event did not express any views on the company's order status. The company's current production and operations are normal, and there is no material information that should be disclosed but has not yet been disclosed. In the first quarter of 2026, the company recorded operating revenue of 562 million yuan, with a net profit attributable to shareholders of the listed company standing at -98.8424 million yuan, indicating the company is still in a loss-making state.
Agency: Global PC Shipments Declined 4.9% in 2026 Q2
36Kr learned that according to IDC data, global PC shipments in the second quarter of 2026 fell 4.9% year-on-year to 68.2 million units — marking the first decline after nine consecutive quarters of growth. The ongoing memory chip shortage is the main driver of this reversal, prompting manufacturers to push inventory forward as much as possible. In the Chinese market, PC shipments reached 9.92 million units in the second quarter of 2026, down 1.6% year-on-year. While the market saw a year-on-year decline, its performance outpaced the global trend, as strong demand persisted from commercial, government, and large enterprise segments despite rising memory prices.
XPeng Robotaxi Launches Internal Testing, He Xiaopeng Calls It a Critical Step for XPeng to Move Towards "Robotic Cars"
Reporters learned on the 9th that XPeng Group held its first all-hands meeting for the Robotaxi business and announced the official launch of employee internal testing. He Xiaopeng stated that over the next decade, all embodied intelligent carriers will essentially evolve into robots. Robotaxi represents a critical step for XPeng to transition from new energy vehicles to "robotic cars", and it serves as a key piece in XPeng's physical AI ecosystem. Aligning with the development trend of software-hardware integration in the AI era, XPeng will focus on vehicle platforms, autonomous driving software, and AI capabilities in the future, building itself into a Robotaxi software and hardware service provider serving global partners, and promoting the global deployment of Robotaxi by delivering complete solution packages. (Securities Times)
SMIC's Market Cap Surpasses Kweichow Moutai
According to 36Kr, on July 9, SMIC's A-shares rose nearly 15%, with a total market value of 1.49 trillion yuan; Kweichow Moutai currently fell 1.43%, with a total market value of 1.48 trillion yuan.
HSBC: Gold Prices Will Remain Volatile, With a Year-End Target of $4,750 Per Ounce
HSBC states that gold prices will maintain a volatile trend. It is projected that for the remainder of 2026, gold prices will fluctuate within a broad range of $3,800 to $4,700 per ounce, with a year-end target set at $4,750 per ounce. (CLS)
Nine Departments including the Ministry of Commerce: Prohibit Platform Operators from Forcing or Coercing Merchants in Disguise to Bear Subsidies and Participate in Promotional Activities
36Kr learned that nine departments including the Ministry of Commerce have issued guidelines on accelerating the innovative development of the retail industry. The guidelines propose to support brand owners in establishing a reasonable price system and narrowing the price gap between online and offline channels by improving pricing strategies. The departments will implement the "Rules for Price Behavior on Internet Platforms" and the "Measures for the Supervision and Administration of Rules on Online Transaction Platforms" to guide platform operators to consciously standardize their pricing and subsidy practices. Special emphasis will be placed on rectifying false publicity, fake promotions, deceptive discounts, and unfair pricing behaviors. Authorities will promote the implementation of clearly marked prices, publicize the rules, duration, and applicable scope of promotional activities, and prohibit platform operators from forcing or coercing merchants in disguise to bear subsidies, participate in promotional activities, shifting promotion costs to merchants, and engaging in practices such as "zero-yuan purchases".
iPhone 18 Pro Max Sees Sharp Cost Increase, Starting Price Likely to Stay at ¥9,999
On July 8, Counterpoint Research released a bill of materials (BoM) cost comparison report. Analysts at Counterpoint Research pointed out that for the iPhone 18 Pro Max (12GB+1TB version), expected to launch this September, its hardware cost will rise by nearly $300 (approximately ¥2,043 at current exchange rates) compared to the previous-generation iPhone 17 Pro Max. Even though Apple may adopt a strategy of raising retail prices by an average of $200 (approximately ¥1,362 at current exchange rates), the gross profit margin of the iPhone 18 Pro Max is still projected to be slightly lower than that of the 2025 iPhone 17 Pro Max.
Facing significant BoM cost pressure, Apple is expected to implement a differentiated pricing strategy based on storage capacities to maintain profit margins. Some netizens speculate that the starting price of the iPhone 18 Pro Max will likely remain at ¥9,999, unchanged from the prior model; however, higher-capacity variants such as the 512GB and 1TB configurations will face upward price adjustment pressure. This is interpreted as Apple holding the price anchor for the base model, while passing on incremental costs to high-capacity storage versions that have relatively lower price sensitivity. (IT Home)
Hong Kong stock IPO fundraising surges over 95% YoY so far this year
The Hong Kong stock IPO market has maintained a strong upward trend this year. With five companies including Momenta and RealAI listing on the Hong Kong Stock Exchange on July 8, the number of newly listed enterprises on the Hong Kong market for the year has reached 92. The total initial public offering fundraising amounted to HK$216.1 billion, representing a 95.39% year-on-year increase compared to HK$110.6 billion in the same period last year. Chen Li, a member of the China Chief Economist Forum, stated that the substantial growth in Hong Kong stock IPO issuance scale this year is the result of multiple favorable factors working in concert, including the unleashed financing demand of technology innovation enterprises, the optimized listing rules of the Hong Kong Stock Exchange, and the recovering cross-border liquidity. The accelerated pace of Hong Kong stock IPOs not only unblocks direct financing channels for the real economy and fosters new quality productive forces, but also further consolidates Hong Kong's status as an international financial center. (Securities Daily)
*ST Huwen: Applying for Removal of Delisting Risk Warning
36Kr learned that *ST Huwen announced that the 1st Interim Meeting of the 10th Board of Directors in 2026 reviewed and passed the "Proposal on Applying for Removal of Delisting Risk Warning", agreeing to submit an application to the Shenzhen Stock Exchange to revoke the delisting risk warning imposed on the company due to triggering the situation specified in Item (9) of Article 9.4.1 of the "Shenzhen Stock Exchange Stock Listing Rules".
NVIDIA Partners with Hugging Face to Develop Open-Source Robotics Models
NVIDIA announced a collaboration with Hugging Face to jointly develop open-source foundational models for robotics. The partnership integrates NVIDIA's GPU ecosystem and CUDA stack with Hugging Face's extensive model library and developer community, significantly lowering the barriers for robot AI training and deployment. (CLS)
Microsoft Xbox Restructures Obsidian Entertainment to Focus on New Fallout Game
On July 8 local time, reports indicate that Microsoft's Xbox division is undergoing a broader round of restructuring. Sources familiar with the matter revealed that Obsidian Entertainment, under Xbox, has canceled multiple projects, including the planned sequel to *Avowed*. The studio will shift its focus to developing a new installment in the popular *Fallout* franchise. Additionally, sources state that Obsidian has laid off approximately a quarter of its workforce. (JIEMIAN News)
Multiple U.S. States May Sue to Block Paramount-Warner Bros. Deal as Early as Next Week
On July 9, according to reports, two people familiar with the matter revealed that multiple U.S. states concerned that Paramount's proposed $110 billion acquisition of Warner Bros. Discovery would harm market competition could file lawsuits as early as next week to block the transaction. The report stated that the sources did not specify what type of competition the states are worried about. However, advocacy groups and some state regulators have warned that subscription prices for streaming platforms may rise, the merged company could conduct layoffs, and it may reduce the scope of film, news, and other content offerings. (The Paper)
Bank of America Shifts to Support OpenAI with $520 Million Credit Line to Pursue IPO Underwriting Role
According to reports on July 8, Bank of America recently extended a $520 million credit line to OpenAI, pushing the total available credit facilities for the AI firm to over $5 billion. It is reported that Bank of America previously rejected lending to OpenAI, and this strategic shift is partially driven by OpenAI's ongoing preparations for its initial public offering (IPO), as the bank aims to secure a role in underwriting this potential large-scale public listing. (JIEMIAN News)
Volkswagen Management Considers Closing Some German Plants Starting in 2031
According to reports, the Volkswagen Executive Board plans to gradually phase out production at its two plants in Zwickau and Emden, Germany over the next five years. The commercial vehicle plant in Hanover is scheduled to close in 2032, and the Audi plant in Neckarsulm is set to shut down in 2034. Approximately 40,000 employees work across these four German facilities. (JIEMIAN NEWS)
Samsung Foundry Raises Prices for Some Process Nodes
Samsung Electronics has increased wafer manufacturing supply prices for new customers by approximately 15%, primarily targeting high-demand advanced process nodes such as 4nm and 5nm, as well as some automotive 8nm process nodes. Prior to this, TSMC had notified major customers of plans to raise supply prices by 5% to 10%. Analysts point out that Samsung's approach is not a comprehensive price increase like TSMC's, but rather focuses more on adjusting prices at specific nodes with concentrated demand. (CLSA)
Japan's Calbee to Restore Colorful Packaging for Multiple Snack Products After Switching to Black-and-White Due to Ink Shortages
Japanese snack giant Calbee announced on July 9 that based on the latest procurement forecasts, the company will restore full-color printing for some of its domestic products in Japan that had previously been switched to black-and-white packaging designs. Back in May this year, due to persistent tensions in the Middle East, the supply of naphtha (a petrochemical raw material), which serves as a key ingredient for printing inks, grew unstable, prompting the company to announce the packaging design change. According to the statement, the production transition is scheduled to start in the week of July 27, and products with the new packaging will gradually hit the market afterward. Calbee noted that it will continue its efforts to conserve resources while closely monitoring supply conditions. (JIEMIAN News)
SK Hynix Raises $26.5 Billion, Setting a New Record for Foreign Companies' U.S. IPOs
On July 9 local time, SK Hynix raised $26.5 billion through an offering of American Depositary Shares (ADS), making it the largest initial public offering by a foreign company in the United States. SK Hynix issued 177.9 million ADS at $149 per share, and the ADS will begin trading on the Nasdaq on July 10 under the ticker symbol "SKHYV". (Jiemian News)
The three major U.S. stock indexes closed higher collectively, with Arm surging over 9%
36Kr learned that at the close of trading on July 9, the three major U.S. stock indexes rose across the board: the Dow Jones Industrial Average increased by 0.27%, the Nasdaq Composite rose by 1.3%, and the S&P 500 climbed by 0.81%. Most large-cap tech stocks posted gains: Arm jumped over 9%, Meta rose more than 4%, Tesla gained over 3%, SpaceX and Intel both increased by more than 2%, Amazon advanced over 1%, while Apple and Microsoft saw modest upticks. Google, NVIDIA, and Netflix edged down slightly. Popular Chinese concept stocks traded mixed: iQIYI surged over 8%, while Alibaba, Tiger Brokers, Futu Holdings, and Pinduoduo all rose by more than 1%. Miniso, NIO, and Xpeng Group dropped over 2%, while Li Auto and Bilibili fell by more than 1%.
IPO in Progress
Jiangsu Zhiyuan Pharmaceutical Co., Ltd. Submits Listing Application to the Hong Kong Stock Exchange
36Kr has learned, according to Hong Kong Stock Exchange filings, that Jiangsu Zhiyuan Pharmaceutical Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange.
Shanghai Enflame Technology Co., Ltd. Obtains STAR Market IPO Registration Approval
36Kr has learned that the IPO registration of Shanghai Enflame Technology Co., Ltd. on the STAR Market has taken effect.
Large Corporation Earnings Reports
PepsiCo: Q2 Net Revenue of $24.18 Billion, Slightly Beats Market Expectations
PepsiCo reported Q2 net revenue of $24.18 billion vs. the estimated $23.95 billion; core EPS reached $2.20 vs. the projected $2.19. (CLSA)
Foxconn Industrial Internet: Predicted H1 2026 Net Profit Growth of 93%-101% Year-over-Year
36Kr learned that Foxconn Industrial Internet announced in its official statement that its half-year net profit attributable to listed company shareholders in 2026 is projected to range from 23.4 billion yuan to 24.4 billion yuan, representing a year-over-year increase of 93% to 101%. The performance change is mainly driven by the over 230% year-over-year revenue growth of AI servers in its cloud computing business, as well as a 140% year-over-year surge in shipments of data center switches with 800G and higher specifications.
GigaDevice: H1 2026 Net Profit Expected to Surge 1099% YoY
36Kr learned that GigaDevice announced in a filing that its net profit attributable to shareholders of the listed company for the first half of 2026 is expected to reach around 6.9 billion yuan, representing a year-on-year increase of approximately 1099%. The performance change is mainly driven by tight supply in the memory chip industry, where the company's memory chip products saw simultaneous growth in both shipment volume and price, alongside expanding shipment scale of its microcontroller products, which collectively fueled a substantial rise in overall operating performance.
Shenhuo Co., Ltd.: H1 2026 Net Profit Attributable to Shareholders Expected to Rise 152.04% YoY
36Kr learned that Shenhuo Co., Ltd. announced that its net profit attributable to shareholders for the first half of 2026 is expected to reach 4.8 billion yuan, representing a year-on-year increase of 152.04%. The main driver behind the company's performance growth is that during the reporting period, factors including the year-on-year rise in selling prices of electrolytic aluminum and coal products, as well as the year-on-year decline in the price of alumina (a major raw material), have significantly enhanced the company's profitability.
Tinci Materials: H1 2026 Net Profit Projected to Surge 908%-1020% Year-over-Year
36Kr learned that Tinci Materials announced in its official filing that the half-year net profit attributable to shareholders of the listed company for 2026 is expected to range from 2.70 billion yuan to 3.00 billion yuan, representing a year-over-year growth of 907.84% to 1019.82%. The performance change is mainly driven by strong market demand for electrolyte and lithium hexafluorophosphate products for lithium-ion batteries, a significant increase in sales volume, improved capacity utilization, optimized industry supply-demand structure that has pushed up product prices, and an overall rise in gross profit margin.
Financing & Investment
Logicbit Technology Officially Announces Hundreds of Millions of Yuan Series A Financing
36Kr learned that Logicbit Technology has officially announced its previously completed Series A financing of hundreds of millions of yuan. This round of financing was jointly led by Kangjun Capital and Hun'an Investment, with participation from China Development Venture Capital, Yuanjing Capital, Shanghai Future Industry Fund, IDG Capital, SMIC PEP (the semiconductor and integrated circuit industry fund), Xinlian Capital, Honghui Fund, TCL Venture Capital, and Houxue Capital. In addition, existing shareholders including Matrix Partners, Orient Jiafu, Dachen Caizhi, Huakong Fund, Shenzhen Venture Capital, Zhejiang University Alumni Fund Oufang Angel, and Huaxia Hengtian continued to increase their investments in this round. The financing proceeds will mainly be used for the R&D and construction of a new generation of high-performance superconducting quantum chips and automated production lines, accelerating the deployment of a globally leading quantum computing cloud platform, and recruiting top-tier talent.
Moqi Intelligence Completes Angel Round Series Financing Exceeding 1 Billion Yuan
36Kr has learned that recently, embodied intelligence enterprise "Moqi Intelligence" officially announced the completion of its Angel round series financing with a total amount exceeding 1 billion yuan. This round of financing was jointly led by Alibaba and Tencent, with over ten top-tier institutions including Photosynthetic Venture Capital participating in the investment. The funds raised in this round will be used to accelerate the R&D of foundational models and the implementation of real-world application scenarios.
"Zeta Fusion" Completes Hundreds of Millions of Yuan Angel Round Financing
36Kr learned that Zeta Fusion, a controlled nuclear fusion enterprise, has recently completed an angel round financing of hundreds of millions of yuan. This financing round is led by the Beijing Green Energy and Low-Carbon Industry Investment Fund, with joint investment from institutions including Plum Ventures, Pine Capital, E-Town Capital, KaihongOS, and CAS Star. The raised funds will be mainly used for the iterative R&D of the Z-pinch fusion device, the construction of the engineering system, and the expansion of the talent team, to further promote the implementation of the Z-pinch fusion-fission hybrid reactor project.
"RuiQi Deep Space" Completes 220 Million Yuan Angel Round Financing
36Kr has learned that "RuiQi Deep Space" recently closed a 220 million yuan Angel round financing, with investors including Suzhou New District Financial Holdings, Suzhou New District Investment, Zhuopu Capital and other institutions. The funds will be mainly used for satellite R&D and launch, construction of ground systems and early-stage data centers.
"DeepCtrls" Secures Hundreds of Millions of RMB in Series B Financing
36Kr learned that physics AI enterprise "DeepCtrls" has recently completed a Series B financing of hundreds of millions of RMB. This round of financing was strategically invested by JinkoSolar, jointly led by SDIC Innovation and CMBC International, with continued participation from existing shareholders including Sequoia China, Source Code Capital, Lightsight Capital, and China Merchants Venture Capital. The funds from this round will be mainly used for the continuous R&D of core physics AI algorithms and product lines, the large-scale expansion of the standardized product DeepBot, and further layout in overseas markets such as Southeast Asia, the Middle East, Europe, and the United States.
Cool Products
StepStar to Launch AI Agent Smartphone
StepStar is set to unveil its AI terminal brand, agent operating system, and its first-ever AI agent smartphone. Previously, OpenAI has publicly bet on next-generation AI terminals, with a planned market launch in 2027. By rolling out its AI agent smartphone ahead of schedule, StepStar has become the first player among global large model manufacturers to take this milestone step. (From Cls.cn)
Edited by｜Putao