8:00 36Kr Flash | CXMT rejects Apple's price suppression, insisting that its quotation is higher than that of Samsung Electronics and SK Hynix; Unitree Technology launches the preliminary inquiry for its STAR Market IPO; South Korea announces that it has entered the "national disaster state"
Today's Hotspot Guide
- DeepSeek erased 4 trillion yuan from NVIDIA's market value overnight
- China's first AI agent for assisted reproductive diagnosis and treatment is launched
- An employee who deleted 89TB of company data entirely with code within 17 hours was sentenced to five years and ten months in prison
- Fuel surcharges for domestic air routes will be lowered again starting from August 5
- Duan Yongping's shareholding ratio in Pop Mart has dropped to 5.55%
TOP 3 Major News
Apple considered including China's ChangXin Memory Technologies in its new supply chain but failed to push down prices
According to South Korean IT media *Digital Daily* citing industry insiders, Apple previously considered including China's ChangXin Memory Technologies in its new supply chain to reduce costs, but has now encountered resistance in negotiations to further lower procurement prices. Recently, to ease the manufacturing cost pressure of its next-generation iPhones and other smart devices, Apple held negotiations with ChangXin Memory Technologies on the supply price of mobile DRAM products such as LPDDR5X, but its request for price cuts was rejected. It is understood that the quotation insisted on by ChangXin Memory Technologies is even higher than that of Samsung Electronics and SK Hynix, or at least at a similar level to the two. (China Fund News)
Unitree Robotics launches preliminary inquiry for its STAR Market IPO, and the market estimates that the IPO market value may exceed 40 billion yuan
According to previous announcements, August 5 is the preliminary inquiry date for Unitree Robotics' IPO on the STAR Market. After the completion of the inquiry, the subscription will open on August 10, with both online and offline subscription dates being August 10, and the payment deadline being August 12.
Unitree Robotics plans to raise 4.202 billion yuan in this IPO, publicly issuing 40.4464 million new shares, accounting for 10% of the total share capital after issuance, and the total share capital after issuance will be 404 million shares. The market estimates that Unitree Robotics' IPO market value will reach more than 40 billion yuan. Calculated based on the 500-share new share subscription unit of the STAR Market and the estimated post-IPO market value, the IPO issue price of Unitree Robotics is about 104 yuan per share, and the payment for one lot of new shares is about 52,000 yuan. However, the specific deviation of the IPO inquiry still needs to be determined by market participants. (CCTV Finance)
As the persistent hot weather continues, the Republic of Korea has officially declared a "national disaster state"
Republic of Korea President Lee Jae-myung announced on August 4 that the country has officially entered a "national disaster state" due to the ongoing high-temperature weather. He stated that the situation is extremely severe, with nearly 2,000 heat-related illnesses and 16 deaths reported across the country since May. Lee Jae-myung also emphasized that in the face of the normalization of extreme climate, the government must fundamentally reform the disaster response system and raise awareness of high-temperature risks to ensure the life safety of the people.
According to a separate report from Yonhap News Agency, the Korea Meteorological Administration issued a major high-temperature alert for the southeast and southwest regions of Seoul starting at 11 a.m. on August 4. This is the first time that Seoul has issued the highest-level high-temperature alert since the Republic of Korea upgraded its high-temperature warning system in June this year. Since August 2, many regions in the Republic of Korea have encountered high temperatures above 40 degrees Celsius. Among them, the daytime temperature in Yangsan, South Gyeongsang Province, has exceeded 40 degrees Celsius for five consecutive days, and even rose to 42.5 degrees Celsius on August 2, setting a new record for the highest temperature in the Republic of Korea. Affected by the hot weather, the number of heatstroke patients in the Republic of Korea continues to rise, with many people suffering from cardiac arrest and even death. (Yonhap)
AI Cutting-edge Frontiers
Apple requests the judge to immediately prohibit OpenAI from using its trade secrets
Apple has taken new action in the case where it accuses OpenAI of systematically stealing information about its upcoming products, asking a federal judge to immediately order the artificial intelligence enterprise to stop using the alleged stolen trade secrets. The company is seeking a court order requiring OpenAI to return all confidential information and stop any attempts to obtain other non-public information. Apple requests that the order remain valid throughout the litigation. (Sina Finance)
OpenAI discloses third-party test boundary breach incident, AI models accidentally connected to public network during model evaluation
On August 4 local time, OpenAI released a statement saying that during the recent third-party cybersecurity assessment, due to the adjustment of test environment configuration and security protection, its models including GPT-5.6 Sol had incidents of unauthorized access to the public network. In the test carried out by the UK AI Safety Institute, the model, without explicit boundary restrictions and with its security classifier disabled, registered external accounts and built network tunnels without permission; in the assessment conducted by testing company Irregular, misconfiguration of the test environment caused the model to mistake real websites for virtual target machines and launch attacks on them. OpenAI noted that relevant tests have been suspended and fully isolated and blocked, causing no substantive impact. The company is cooperating with the industry to re-examine the assessment process to improve the safety standards for high-risk tests. (Jiemian News)
China's first AI agent for assisted reproductive diagnosis and treatment goes online
Recently, the "IVF Co-pilot" system independently developed by Chengdu Jinxin Information Technology Co., Ltd. under Jinxin Fertility, has launched its pilot operation at Sichuan Jinxin Xinan Women's and Children's Hospital (Bisheng Campus). It is known that this is the first doctor-oriented (To Doctor) clinical assistance AI agent in the field of assisted reproduction. Targeting the whole process of assisted reproductive diagnosis and treatment, the system currently focuses on the auxiliary evaluation of ovulation induction regimens and initiation medication for IVF (in vitro fertilization). The system integrates hospital clinical experience, IVF expertise, clinical algorithms and local large models into the electronic medical record workflow, providing doctors with comparable, traceable and verifiable auxiliary information and clinical decision-making references. (Sina Finance)
Google's AI business sees major personnel reshuffle: Demis Hassabis steps down as CEO of DeepMind, and Chief Scientist Jeff Dean leaves the company
Google announced on August 5 local time that Demis Hassabis, CEO of Google DeepMind, will transition to serve as Chairman of the division and Chief Scientist of Alphabet. Koray Kavukcuoglu, current Chief AI Architect of Google and long-time deputy of Hassabis, will take the post of Senior Vice President, take over most of Hassabis's responsibilities and report directly to Sundar Pichai, CEO of Alphabet.
Google additionally announced that Jeff Dean, the Chief Scientist who has long participated in formulating Google's AI strategy and has worked at the company for 27 years, will leave the company. He will co-found an independent enterprise with Sanjay Ghemawat, Senior Google Researcher, aiming to accelerate exploration and discovery in the fields of machine learning, science and engineering. (Jiemian News)
Meta launches its first AI programming agent, challenging Anthropic and OpenAI
Meta is rolling out its first programming agent named Muse Code, in a bid to challenge Anthropic and OpenAI. This new tool, similar to Anthropic's Claude and OpenAI's Codex assistant, enables people to build applications more easily within a single user interface, while managing a large number of AI-powered digital agents that can help support the software development process. (Sina Finance)
Major Companies / Major Events
The Wall Street Journal: DeepSeek Once Wiped Out 4 Trillion from NVIDIA's Market Cap Overnight
The Wall Street Journal points out that after the open-source release of the DeepSeek-R1 model in January 2025, NVIDIA's market value plummeted by nearly 600 billion US dollars in a single day. Coupled with the simultaneous decline of technology giants and power enterprises, the total evaporated market value reached about one trillion US dollars, which has become a landmark inflection point in the China-US AI competition. Nowadays, the occurrence of the "DeepSeek Moment" is becoming more and more frequent. (CCTV.com)
Employee used code to delete 89TB of company data in 17 hours, sentenced to five years and ten months in prison
Wang, a post-90s algorithm engineer, worked at a technology company in Dongcheng District, Beijing. The company had notified all employees to migrate data from Cluster A to new servers, and Wang was aware of this arrangement but retained the account access permission for the old cluster. On September 3, 2024, he logged in to the old cluster and executed the mandatory database deletion code before leaving his post. The program ran continuously for 17 hours, erasing 89TB of text-to-3D content, rendered AI models and supporting training data, which directly paralyzed the company's AI game R&D line. The second-instance verdict of this case was announced on June 26, the court rejected Wang's appeal, sentenced him to five years and ten months in prison for the crime of sabotaging computer information systems, and ordered him to compensate the enterprise for economic losses of more than 204,000 yuan. (Procuratorial Daily)
The three major U.S. stock indexes closed mixed, with SpaceX down more than 13%
36Kr learned that as of the close on August 5, the three major U.S. stock indexes posted mixed performances: the Dow Jones Industrial Average rose 0.49%, the S&P 500 index fell 0.17%, and the Nasdaq Composite dropped 0.83%. Large-cap tech stocks traded mixed: Nvidia rose more than 3%, while Netflix, Apple, Intel and Meta recorded slight gains; SpaceX plunged over 13%, Google fell more than 4%, and Tesla, Amazon and Microsoft all dropped over 1%. Most popular Chinese concept stocks traded lower: iQIYI fell more than 3%, XPeng Inc., NIO and Bilibili dropped over 2%, NetEase, Baidu and JD.com fell more than 1%; BeiGene and Futu Holdings rose more than 1%.
DeepSeek restarts its financing with a pre-money valuation of 500 billion yuan
A number of trading insiders revealed that large model company DeepSeek has restarted its second round of financing. This round plans to raise 500 billion yuan, with a pre-money valuation of about 5 trillion yuan, and is scheduled to complete the signing in late August. DeepSeek launched its first round of financing in April this year and completed the delivery in June. The financing amount of this round reached 500 billion yuan with a valuation of more than 3.5 trillion yuan, making it the company with the largest first-round financing scale in the history of China's AI large model industry. Many investors mentioned that DeepSeek's second round of financing was launched at least in mid-July, but was suddenly suspended at the end of July. At that time, some investors on the negotiation waiting list were notified that the plan to sign the financing agreement was postponed. (Caijing Magazine)
SpaceX's $101 Billion Restricted Shares Will Be Unlocked
According to Bloomberg's report on August 5, after the share price of SpaceX, the rocket, satellite and AI company under Elon Musk, fell below the issue price, the investors who have not yet exited are about to face a new round of challenges. Restricted shares worth 101 billion U.S. dollars (Note: equivalent to about 683.056 billion yuan at the current exchange rate) will be lifted on Thursday local time, and the huge new supply may impact the share price again.
SpaceX has been operating in the private market for more than 20 years, and its investor structure is already very complex. The acquisition of xAI earlier this year, together with Musk's previous acquisition of Twitter, has further expanded the scope of shareholders. The prospectus shows that after the completion of the first round of share unlocking, SpaceX's tradable shares will increase from the current approximately 639 million shares to a maximum of 1.55 billion shares, with the circulation size more than doubling. (IT Home)
Domestic Route Fuel Surcharge to Be Cut Again Starting from August 5
It has been learned from a number of airlines that the fuel surcharge for domestic route air tickets sold as of August 5 will be lowered again. The adjusted domestic route fuel surcharge standard is: 70 yuan of fuel surcharge per adult passenger for routes over 800 kilometers, and 40 yuan of fuel surcharge per adult passenger for routes of 800 kilometers (inclusive) and below, which is 30 yuan and 10 yuan lower respectively than that before the adjustment. This marks the third cut in domestic route fuel surcharges since June this year, further reducing passengers' travel costs. (CCTV News)
Musk responds to losing 2.45 trillion yuan in a single month: I am a (former) trillionaire
Elon Musk went through a "Black July", with his wealth shrinking by approximately 363 billion US dollars within a month, equivalent to 2.45 trillion yuan, which is equal to the total net worth of two Jensen Huang. If he spends 1 million US dollars per day, the sum of the lost wealth is enough to support his spending for 994 years.
According to media sources, Musk once became the world's first trillionaire. However, along with the drastic fluctuation of SpaceX's stock price, his net worth plummeted rapidly. This shrinkage scale has surpassed the total net worth of any individual among the world's second to tenth richest people. As of 00:00, August 1 US Eastern Time, Musk's net worth dropped to 690 billion US dollars, hitting the lowest level since December last year. Faced with the sharp shrinkage of his wealth, Musk posted on social platforms to mock himself: "I am a (former) trillionaire." (Knews)
The United States launches the largest-scale denaturalization operation in its history, with 25 people indicted, including Chinese members of a "sham marriage" syndicate
On local time August 3, the U.S. Department of Justice announced that it has filed lawsuits in federal courts, seeking to revoke the citizenship of 25 individuals.
According to the indictments, the 25 people are mainly from regions including Sweden and China's Taiwan. Relevant lawsuits were successively submitted to federal courts from July 20 to August 3. U.S. Acting Attorney General Blanche said in a statement that this is the largest centralized operation to revoke the nationality of naturalized citizens in U.S. history, and warned that this is just the beginning. (China Overseas Chinese Network)
2.4 kilometers per second, SpaceX rocket debris crashes into the Moon
At 14:35 Beijing Time on August 5, a second-stage debris of the SpaceX Falcon 9 rocket that had drifted in space for nearly 19 months struck the area near the Einstein Crater on the western side of the Moon at a speed of approximately 2.4 kilometers per second, fulfilling its final destiny. This second-stage debris of the Falcon 9 rocket, numbered "2025-010D", comes from a major launch mission on January 15, 2025. (Jiemian News)
Duan Yongpin Responds to Pop Mart Share Reduction: No Direct Sell-off in Secondary Market, It Is the Performance of Option Contracts
36Kr learned that on August 5, according to the equity disclosure from the Hong Kong Stock Exchange, the H-shareholding ratio of Pop Mart held by H&H International Investment managed by Duan Yongpin dropped from 7.65% to 5.55% on July 30, 2026. Duan Yongpin stated on Xueqiu that this share reduction is not a direct sell-off in the secondary market, but is caused by the delivery of corresponding shares in accordance with the transaction agreement for the performance of the option contract.
Yu Donglai Unveils Pang Donglai's Three-Year Future Plan
On August 5, Yu Donglai, founder of Pang Donglai, released the plans that Pang Donglai will focus on completing in the next three years on social platforms. (Yicai)
Ministry of Commerce: Strengthen export controls on drone-related dual-use items to the United States
On August 5, the Ministry of Commerce issued an announcement. In accordance with relevant provisions of the Export Control Law of the People's Republic of China, the Regulations of the People's Republic of China on the Export Control of Dual-Use Items and other laws and regulations, to safeguard national security and interests and fulfill international obligations such as non-proliferation, it is decided to strengthen export controls on drone-related dual-use items to the United States. The relevant matters are hereby announced as follows: The export of drones, their key components and related technologies included in the Export Control List of the People's Republic of China for Dual-Use Items to the United States shall be subject to strict case-by-case examination, and no licensing facilitation measures shall apply. This announcement shall come into force as of the date of its promulgation. (CCTV News)
U.S. Customs has refunded approximately 100 billion U.S. dollars in tariffs
Data disclosed on the 4th by officials from U.S. Customs and Border Protection under the U.S. Department of Homeland Security to the U.S. Court of International Trade shows that U.S. Customs has refunded around 100 billion U.S. dollars in tariffs previously levied under the U.S. International Emergency Economic Powers Act. Officials of U.S. Customs and Border Protection stated that more than 128 billion U.S. dollars in tariff refund claims have been accepted. At present, the amount of refunds that have been issued accounts for approximately 60% of the 165 billion U.S. dollars in tariffs levied by the Trump administration invoking this act. (Xinhua News Agency)
Microsoft to Lay Off 605 Employees in Redmond
On August 5, it is reported that Microsoft will cut 605 jobs at its Redmond campus in Washington State, United States, and the layoff will take effect on September 4, 2026. (Jiemian News)
Trump Urges US Senate to Pass Bill Adopting Daylight Saving Time Year-Round
US President Trump posted on social media on the 4th, urging the US Senate to pass the relevant bill on adopting daylight saving time throughout the year as soon as possible, claiming that the vast majority of Americans demand to make daylight saving time permanent. On July 14, the US House of Representatives passed the Sunshine Protection Act. According to the act, the current daylight saving time implemented in the United States will be fixed as the time adopted throughout the year, and there will no longer be two time shifts every year. The act also allows each state to apply for exemption from implementing year-round daylight saving time. After being passed by the House of Representatives, the act will be submitted to the Senate for deliberation. If it is passed, it will be submitted to President Trump for signature. (Xinhua News Agency)
Local area network trading lines shut down, rents for "exchange-proximal" data centers skyrocket
As stock exchanges shut down the original local area network trading lines in their data centers and uniformly switch the access method for trading quotes to the wide area network, a quiet scramble for "exchange-proximal" data center resources is underway. "Around Jinqiao (the Jinqiao Data Center of the Shanghai Stock Exchange) at present, a standard 4000W cabinet costs about 10,000 yuan per month, compared with roughly 7,000 yuan per month previously, and the resources were already under 'restricted sale' back in March and April this year."
A reporter learned from a person engaged in data center leasing business that data centers near the Shanghai Stock Exchange are now "extremely hard to secure a single cabinet", with prices rising sharply compared to before. This statement has also been confirmed by many quantitative institutions. "Some leasing prices have multiplied several times," said a person from a quantitative private equity institution. Although they can no longer access the exchange's own data center, being close to the exchange's data center still helps improve trading speed. (Yicai)
Chow Tai Fook, Chow Sang Sang and Lao Miao collectively raise their gold jewelry prices by around 8 to 10 yuan per gram
Gold jewelry prices of multiple major brands have collectively increased by around 8 to 10 yuan per gram in a single day. On August 5, the pure gold jewelry of Chow Tai Fook was priced at 1240 yuan per gram, rising by 9 yuan day on day; the pure gold jewelry of Chow Sang Sang was priced at 1237 yuan per gram, rising by 10 yuan day on day; the pure gold jewelry of Lao Miao was priced at 1236 yuan per gram, rising by 8 yuan day on day; the pure gold jewelry of Lao Feng Xiang was priced at 1237 yuan per gram, rising by 9 yuan day on day. (Jiemian News)
Elon Musk Says No Rival in Hardware Manufacturing Exists Outside China, Will Adopt Rocket Technology to Build Data Centers
At the earnings call following the release of SpaceX's Q2 financial report, Elon Musk, founder of SpaceX, stated while responding to questions that SpaceX and Tesla are the two companies with the strongest hardware capabilities on the planet. "There are no rivals outside China, and arguably even when China is included." Musk noted that the professional expertise accumulated from the rocket and satellite sectors will be applied to the large-scale construction of ground data centers. "We have found that even applying a small share of the experience we have gained from rocket manufacturing to data center construction can bring tremendous benefits." Musk also said that the demand for power supply and cooling capacity of future data centers will far outpace previous expectations. He also disclosed that he has already held discussions with NVIDIA, and is expected to obtain a considerable portion of its GPU production capacity next year. (Sina Tech)
South Korean prosecutors investigate petrochemical enterprises over alleged price collusion, 7 companies including LG Chem are raided
The Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office of the Republic of Korea launched seizure and search operations on August 5 against 7 petrochemical enterprises including LG Chem, Hanwha Solutions, Aekyung Chemical, OCI, Lotte Fine Chemical, PKC and UNID, as well as relevant personnel, to investigate their alleged price collusion on multiple petrochemical products. Prosecutors suspect that the aforementioned enterprises have conducted prior consultations on price hikes of 8 categories of products including PVC, plasticizers, caustic soda and hydrochloric acid for years. Previously, the Korea Fair Trade Commission found relevant clues of alleged collusion in May this year and launched on-site investigations. (Jiemian News)
The summer co-branding economy is in full swing, and a number of companies are increasing their investment in the "IP + Consumption" track
The summer consumer market is brimming with vitality. Food and beverage brands are stepping up their layout of "IP + Consumption", launching intensive cross-border co-branding campaigns to seize the market share in the peak summer season. Industry insiders noted that the booming summer co-branding economy is driven by two factors: for one thing, competition in the traditional consumer track is becoming increasingly fierce, and brands need to rely on IP to convey emotional value and upgrade consumption experience; for another, this model fits the continuously growing demand for emotional consumption among consumers. With continuous policy support, the "IP + Consumption" track has broad room for growth, and the consumption potential is expected to be further unlocked. (Securities Times)
The pattern of strong supply and weak demand has not yet reversed, and the short-term rebound of live hog prices faces great resistance
After a brief rebound, the domestic live hog market has weakened again, with spot and futures prices under synchronous pressure. Data shows that as of August 4, the average slaughter price of domestic and foreign ternary commercial hogs was 10.33 yuan/kg, down more than 9% from the phased high on July 7; the average pork price in national agricultural product wholesale markets fell back to 15.77 yuan/kg. Recently, the price of the main 2609 contract of live hog futures once dropped to 10635 yuan/ton, hitting a new low since its listing. Industry insiders point out that concentrated slaughter at the breeding end, combined with high temperature weather that pushes pork consumption into the traditional off-season, the phased supply-demand mismatch is the core reason for this round of live hog price decline. At the same time, the national inventory of breeding sows has dropped to 37.8 million heads by the end of the second quarter, close to the normal holding target of 37.5 million heads, and the de-capacity pace of the industry has accelerated significantly. (China Securities Journal)
Listing in Progress
Oriental Space: IPO coaching preparation work has been launched
Oriental Space has carried out frequent financing activities in 2026. Previously, Oriental Space obtained hundreds of millions of yuan of Pre-C round financing from well-known professional investment institutions including Tongchuang Weiye, Shanghai Sci-Tech Innovation, AVIC Honghua and Yuanyou Ruize. The raised funds will be used for the R&D and production of the "Gravity-2" large liquid reusable rocket. It is reported that Oriental Space is about to complete the Series C financing, and has launched the preparation work for IPO coaching. (Securities Times)
SoftBank-backed OfBusiness is considering relaunching its IPO plan in India
According to people familiar with the matter, OFB Tech Pvt, the operator of technology supply chain and financing platform OfBusiness, is considering relaunching its initial public offering plan, with the fundraising size reaching up to 800 million U.S. dollars. Backed by SoftBank Group, the company is cooperating with Axis Capital Ltd, Morgan Stanley, JPMorgan Chase and Citigroup to prepare for the potential listing. Relevant sources said they declined to be named as the information is internal and confidential. They said the company plans to submit the draft prospectus no later than November. OfBusiness, which tried to go public several years ago, put the plan on hold due to weak market conditions. The restarted offering is expected to add up to 200 million U.S. dollars worth of new shares, while the rest of the shares will be sold by existing shareholders. (Sina Finance)
Chinese artificial intelligence firm Yanyu Technology is reportedly considering a Hong Kong IPO
According to people familiar with the matter, Yanyu Technology, the Chinese startup behind the AI design agent Lovart, is considering launching an initial public offering (IPO) in Hong Kong. The people familiar with the matter said the company is holding preliminary consultations with advisers regarding the potential share offering. These sources requested anonymity as the discussions are conducted in private. At the same time, people familiar with the matter stated that Yanyu Technology is close to completing a financing deal that will bring the valuation of the startup to 3 billion U.S. dollars. (Sina Finance)
Major Corporate Earnings Reports
Honda's net profit in the first fiscal quarter reached 450.915 billion yen, up 129.3% year on year
Honda released its first fiscal quarter financial report on August 5, showing that the company recorded operating revenue of 6.06 trillion yen in the current period, marking a 13.5% year-on-year increase. Operating profit for the period jumped 117.4% to 530.767 billion yen; pre-tax profit rose 107.0% to 605.027 billion yen; net profit hit 450.915 billion yen, a sharp 129.3% year-on-year surge. Based on the assessment of the market environment and exchange rate fluctuations, Honda has upwardly revised its full-year performance forecast. The company expects full-fiscal-year operating revenue to reach 24.15 trillion yen (up 10.8% year on year), with projected operating profit of 650 billion yen and projected net profit of 400 billion yen. The full-year dividend per share is expected to be 70 yen. (Jiemian News)
Infineon Records Revenue of 4.172 Billion Euros and Profit of 797 Million Euros in Its Third Fiscal Quarter
Infineon released its financial results for the third quarter of fiscal 2026 (ending on June 30, 2026): it achieved a revenue of 4.172 billion euros, a profit of 797 million euros, with a profit margin of 19.1%. Based on the assumption that the EUR/USD exchange rate is 1.15, the company expects its revenue in the fourth quarter of fiscal 2026 to be around 4.7 billion euros, representing a 13% growth. The profit margin is estimated to be around 23%. At present, the company expects its full-year revenue to be around 16.3 billion euros (the previous guidance was: significant year-on-year growth compared to the last fiscal year). The adjusted gross profit margin is expected to remain in the range of 40% to 46%, and the profit margin is expected to stay at the level of around 20%. (Financial Associated Press)
Glencore posts a net profit of 4.405 billion U.S. dollars in H1, reversing losses year on year
Glencore released its 2026 first-half performance report on August 5. The company's operating revenue rose 49% year-on-year to 174.43 billion U.S. dollars. During the period, its adjusted EBITDA surged 86% to 10.115 billion U.S. dollars, and operating cash flow (FFO) increased 158% year-on-year to 8.129 billion U.S. dollars. The net profit attributable to shareholders saw a strong turnaround from a loss of 655 million U.S. dollars in the same period a year earlier, hitting 4.405 billion U.S. dollars. Glencore also announced that it plans to conduct a secondary listing via CDIs on the Australian Securities Exchange (ASX) in October 2026, to gain access to Australia's A$4.4 trillion pension fund market and local capital market. (Jiemian News)
SanDisk's fourth fiscal quarter revenue increased by 372% year on year, with a net profit of 6.9 billion US dollars
SanDisk Corporation announced its financial performance for the fourth quarter of fiscal 2026. The revenue in the fourth fiscal quarter was 8.97 billion US dollars, up 51% quarter on quarter and 372% year on year; GAAP net profit was 6.90 billion US dollars (diluted net earnings per share of 43.97 US dollars), compared with a net loss of 23 million US dollars in the same period of the previous year. About one third of the quarter-on-quarter revenue growth came from increased sales volume, and two thirds came from price increases. SanDisk's total revenue for the full fiscal year 2026 was 20.25 billion US dollars, up 175% year on year, with GAAP net profit of 11.43 billion US dollars (diluted net earnings per share of 73.76 US dollars), compared with a net loss of 1.64 billion US dollars in the same period of the previous year. SanDisk expects its revenue in the first quarter of 2027 to be between 10.30 billion US dollars and 10.80 billion US dollars, and non-GAAP diluted net earnings per share is expected to be between 44.00 US dollars and 46.00 US dollars. (Jiemian News)
Shake Shack's total revenue in the second quarter reached 417.6 million U.S. dollars, up 17.2% year on year
On August 5, Shake Shack released its 2026 second-quarter performance report. The company's total revenue in the second quarter was 417.6 million U.S. dollars, representing a 17.2% year-on-year increase. Specifically, sales from the company's self-operated stores hit 403.4 million U.S. dollars, and franchising revenue stood at 14.2 million U.S. dollars. Same-store sales in the second quarter rose 3.5% year on year. The adjusted EBITDA in the second quarter reached 61.2 million U.S. dollars, marking a 3.9% year-on-year growth. (Jiemian News)
The Walt Disney Company's third fiscal quarter revenue reaches $25.2 billion, up 7% year on year
On August 5, The Walt Disney Company announced its financial results for the third quarter of fiscal 2026: total revenue reached $25.2 billion, up 7% year on year; diluted earnings per share was $1.51, down 48% year on year. The company currently aims to complete at least $9 billion in share repurchases in fiscal 2026. (Jiemian News)
Investment and Financing
"Zheyuan Technology" completes nearly 200 million RMB Series A2 financing
36Kr has learned that Beijing Zheyuan Technology Co., Ltd. has secured nearly 200 million RMB in its Series A2 round of financing. This round of financing is led by Sansure Biotech together with its industrial fund, with CAS Star, the existing shareholder, continuing to make follow-on investment, and Zhangjiang Sci-Tech Investment and other institutions participating in joint follow-on investment. The capital raised in this round will be mainly used for continuous output of high-value innovative IP and global asset layout, as well as the upgrade of the AI4S platform driven by the life world model.
HSG completes new $10 billion financing round
HSG has completed a new $10 billion financing round. It has returned $5 billion to investors excluding SpaceX this year. (CLS)
Cool Products
Lucid to Delay Launch of Affordable Electric Vehicles During "Operational Restructuring"
Lucid's chief executive said on Tuesday that the company plans to launch more affordable electric vehicles in the second half of 2027, pushing back the launch originally scheduled for later this year, as the company is conducting a major business review and cutting costs. As part of the company's so-called "Operational Reset" plan, Lucid plans to save 1.4 billion U.S. dollars in cash this year, mainly by cutting production and inventory, after the company's losses continued to widen in the second quarter. (Sina Finance)
Edited by | Wang Haoyang