8 AM 36Kr Express 丨 The final winning subscription rate of Unitree Technology is announced as 0.01809759%; Master Fei removes the title of "National King of Hunan Stir-fried Pork"; The official responds to the issue of "Doubao launching commission mechanism for hotel booking orders"
Today's Headline Overview
- Meta releases a lightweight AI model that can run on a single graphics card
- Apple is reportedly considering redesigning the Apple Watch
- Zeekr responds to the vehicle fire incident
- Ministry of Commerce: Preliminary determination confirms that imported pecans originating in Mexico and the United States are subject to dumping
- AVATR refutes the rumor that "cooperation with Huawei is an unnecessary item", stating that it is a misinterpretation of the relevant remarks
TOP 3 Major News
Unitree: The valid subscription multiple for its online IPO offering reaches 8288.82x, with the final winning rate standing at 0.01809759%
Unitree announced that its initial public offering of shares and listing on the Sci-Tech Innovation Board will be priced at RMB 150.8 per share. The number of valid subscription accounts for this online offering is 9.7846 million, with the total number of valid subscribed shares reaching 53.637 billion, and the initial online offering winning rate is 0.01206444%. As the initial valid subscription multiple for the online offering is approximately 8288.82 times, exceeding 100 times, the issuer and the sponsor have initiated the clawback mechanism, transferring 3.236 million shares from the offline tranche to the online tranche. After the clawback, the final number of shares offered online is 9.707 million, accounting for about 30.00% of the total offering size after deducting the number of shares for final strategic placement, and the final winning rate of the online offering is 0.01809759%. (Wall Street CN)
Chef Fei removes the title of "National King of Home-style Stir-fried Pork"
After being questioned by the public online, all outlets of Chef Fei have taken down the promotion of the "National King of Home-style Stir-fried Pork" title. On August 10, Chef Fei responded that to comply with the new regulations, all stores are rolling out updates gradually, and the new promotional slogan will be adjusted to "Selected Black Pork, Stir-fried by Professional Chefs", and the overall update is expected to be completed by the end of August. According to previous reports, at the end of July, the China Cuisine Association announced that it would comprehensively sort out and revoke titles including "Master", "Renowned Chef" and "Gastronomic Landmark City" that it has awarded over the years, and the validity of relevant certificates and promotional endorsements will be immediately invalidated. Later, some netizens found that the "National King of Home-style Stir-fried Pork" title that Chef Fei had used for nearly 6 years was won with submitted photos and videos in an online voting competition held by the China Cuisine Association, and related topics about Chef Fei have hit the trending search lists for many times for this reason. (The Paper)
Does Doubao Launch Commission Mechanism for Hotel Orders? Official Response: Hotel Commission Is Not Advertising Fee
On August 10, hotel orders generated by redirecting from the Doubao portal to Douyin Laike will be subject to an independent rate: 11.4% software service fee plus 0.6% payment processing fee, with a total combined rate of approximately 12%. In response to this, practitioners in the hotel industry stated that the news is true, and the photos circulating online are notifications from the Douyin Laike backend, noting that "commissions are now being charged for hotel recommendations from Doubao". On July 27, the Douyin Local Life Service Learning Center once issued the "2026 Policy Statement on Software Service Fees for Specific Channels of the Douyin Local Life Service Platform". The statement specifies that this policy is effective from 00:00 on August 10, 2026 to 24:00 on the day preceding the effective date of the new software service fee policy for specific channels of the Douyin Local Life Service Platform, and the specific software service fee rate will be notified to merchants through the Douyin Laike merchant backend. In this regard, Liu Xing, Head of Public Relations at Doubao, responded that the local life service business of Doubao currently has no paid promotion, and Doubao does not charge advertising fees for hotel recommendations. Merchants cannot influence recommendation results or rankings through paid means, and only need to pay channel service fees after the order is successfully completed. (Sina Tech)
AI Frontier
Meta releases a lightweight AI model that can run on a single graphics card
On August 10, Meta Platforms launched the lightweight AI model Muse Glimmer, which can run on a single computer. Users can download it and customize it based on their own needs. Meta stated that Muse Glimmer is a "distilled" version of the company's Muse Spark 1.2 model, with its design focused on improving efficiency and minimizing the requirements for computer system configurations. As introduced, Muse Glimmer has 30 billion parameters, and its scale is "small enough" to run with only one graphics card. Its main tasks include schedule management, file organization and other scenarios. (Jiemian News)
OpenAI Launches GPT-5.6-Cyber Model to Improve Capabilities for Advanced Cybersecurity Tasks
According to JIN10 Data's report on August 11, OpenAI announced the launch of GPT-5.6-Cyber, and expanded its cybersecurity program Davbreak to provide AI models more suitable for advanced security work for vetted cybersecurity defense personnel. OpenAI said it hopes to deliver cutting-edge AI capabilities to trusted defenders before attackers deploy large-scale autonomous cyberattacks. Daybreak is divided into two tiers: Daybreak Blue provides access to GPT-5.6 Sol with no system-level cybersecurity protection restrictions; Daybreak Red provides access to GPT-5.6-Cyber for exploit verification and advanced vulnerability research. Tests show that GPT-5.6-Cyber responds to 95% of advanced cybersecurity task requests, including exploit chain development, authentication bypass and privilege escalation. OpenAI stated that high-risk capabilities will only be open to approved users, with additional control and monitoring measures deployed. (JIN10 Data APP)
Goldman Sachs predicts that the overall global investment scale of artificial intelligence will exceed 1 trillion US dollars by the end of 2026
According to news on August 10, the latest industry report from Goldman Sachs predicts that the total global investment in artificial intelligence will exceed 1 trillion US dollars by the end of 2026, with the investment scale in the United States approaching 600 billion US dollars. The institution estimates that from 2026 to 2028, the proportion of U.S. AI capital expenditure in GDP will rise year by year to 1.8%, 2.5% and 2.8% respectively; during the same period, the corresponding proportion of global AI investment in GDP will be 0.9%, 1.3% and 1.4% respectively, and the driving force of AI on the global macro economy will continue to increase. (CLS)
China's large AI models have ranked first in global call volume for 15 consecutive weeks, and DeepSeek series products top the weekly traffic list
OpenRouter's weekly data shows that the total call volume of global large models from August 3 to August 9 reached 69 trillion Tokens, of which Chinese manufacturers contributed a total of 34.25 trillion Tokens, surpassing the United States for 15 consecutive weeks. The official version of DeepSeek-V4-Flash recorded 8.83 trillion weekly call Tokens, surging 570% week on week to rank first in the world. Tencent Hy3 and the preview version of DeepSeek ranked second and third respectively, and the traffic advantage of domestic large models continues to expand. (National Business Daily)
Samsung Electronics has increased the mass production yield of HBM4 chips to nearly 80%, seizing the incremental demand for AI computing power storage
According to industry news on August 10, Samsung's mass production yield of HBM4 has risen from less than 60% to nearly 80% within half a year, reaching the industry's golden yield standard. The company plans to boost its Q3 HBM4 revenue by 3 times compared with the second quarter, with HBM4 revenue in the second half of the year accounting for over 60% of its total HBM business. It targets to secure about 38% of the global HBM market share by the end of the year to seize the incremental demand for AI computing power storage. (Jiemian News)
Big Companies / Major Events
Apple Reportedly Considers Redesigning the Apple Watch
On U.S. Eastern Time Sunday, renowned technology journalist Mark Gurman pointed out that as the Finnish brand Oura's smart health ring Oura Ring and other screen-free smart fitness devices bring fiercer competition to the Apple Watch, Apple is considering major adjustments to the Apple Watch product line. Apple is preparing to thoroughly innovate the design concept of the Apple Watch and redesign the product from scratch, to respond to the development trend of the smart wearable industry moving towards screen-free devices and more new form factors. Although no exact plans have been announced so far, it is revealed that over the past year, Apple has been considering various product shapes and sizes, including wristwatches equipped with circular displays, fully screen-less fitness accessories, and more. (CLS)
Zeekr Responds to Vehicle Fire Incident
According to news on August 10, on the evening of August 9, in response to the fire incident of a Zeekr model that occurred at a charging station in Ningbo the same day, Zeekr Auto issued a response via its official account "Zeekr Service". The response noted that on August 9, a vehicle under the Zeekr brand suffered an overheating incident at a charging station in Haishu District, Ningbo. The fire department arrived at the scene immediately and properly handled the situation, with no casualties reported. Upon learning of the incident, Zeekr Auto arranged for staff to rush to the site at the earliest possible time and set up a special working group to assist with follow-up arrangements. After preliminary verification, the vehicle had been involved in a serious collision accident recently, and it did not receive inspection and maintenance at the brand's official authorized service center after the collision. At present, Zeekr Auto is actively cooperating with the fire department and relevant authorities to conduct on-site inspection and investigation into the cause of the incident. The specific cause shall be subject to the final investigation conclusion released by the relevant authorities. (CNR)
Pinduoduo Launches "Fastest Next-Day Delivery", Directly Entering the Core Market of Meituan and JD
On August 10, Pinduoduo quietly launched the first-level core entrance of "Fastest Next-Day Delivery" on the homepage of its App, covering high-frequency rigid-demand categories such as fresh fruits and produce, daily general merchandise. Different from the previous practice that the "Next-Day Delivery" label was only dynamically displayed by algorithms on product detail pages and search results, Pinduoduo has upgraded this service to the core navigation position on the homepage, placed parallel to the "Hundred Billion Subsidies" section. This seemingly minor product adjustment means Pinduoduo has officially launched a head-on impact on the core hinterland of instant retail, and the domestic trillion-yuan instant retail track has welcomed another heavyweight player. (Jiemian News)
Fed's Hammack: Multiple interest rate hikes may be needed to push down inflation
Jin10 Data reported on August 11 that Cleveland Fed President Hammack stated that current inflation has not yet returned to the target level, and the Federal Reserve may need to implement multiple interest rate hikes. She noted that a single 25-basis-point rate hike "will not have a major impact on the economy", but she is unwilling to prejudge the specific number of rate hikes or the final interest rate level. Hammack believes that the current 3.50%-3.75% interest rate range has not imposed obvious restrictions on the economy, and enterprises still have not reduced their growth investments due to high interest rates, so "now is the time to take action". She said that the longer the wait, the more difficult it will be for inflation to return to 2%. Hammack also emphasized that there are no obvious problems in the labor market at present, and the July employment data will not change her focus on inflation. She pointed out that the market can only assist the Federal Reserve, and cannot replace the Federal Reserve to take action. Hammack voted against keeping interest rates unchanged at the Fed's July monetary policy meeting, and she favored a 25-basis-point interest rate hike. (Jin10 Data APP)
Intel Announces Proposed $15 Billion Common Stock Issuance Plan
Intel has announced its proposed $15 billion common stock issuance plan. Intel will use the proceeds for general corporate purposes. Intel states that it remains prudent in capital deployment. (CLS)
SK Hynix Responds to Rumors of "Considering Selling Its Chongqing Factory": No Matters Have Been Determined Yet
On August 10, SK Hynix released an announcement in response to the market rumor that it is pushing forward the sale of its Chongqing, China factory at a scale of 4 trillion won, stating that the company is studying a variety of solutions to enhance the competitiveness of its packaging business, but no specific matters have been determined as of yet. SK Hynix said that if relevant matters are determined in the future, it will make further disclosure within one month from the date of confirmation. (Jiemian News)
Ministry of Commerce: Preliminary determination finds that imported pecans originating in Mexico and the United States are subject to dumping
On August 10, the Ministry of Commerce issued the preliminary ruling of the anti-dumping investigation on imported pecans originating in Mexico and the United States. In accordance with the provisions of the Anti-Dumping Regulations of the People's Republic of China (hereinafter referred to as the Anti-Dumping Regulations), on September 25, 2025, the Ministry of Commerce (hereinafter referred to as the investigating authority) issued Announcement No. 52 of 2025, deciding to launch an anti-dumping investigation on imported pecans originating in Mexico and the United States (hereinafter referred to as the investigated product). At present, the investigating authority preliminarily determines that the imported pecans originating in Mexico and the United States are dumped, the domestic pecan industry in China has suffered material injury, and there is a causal relationship between the dumping act and the material injury. (The Paper)
The bill of materials cost of the iPhone 18 Pro model has risen by 38% year on year, and Apple may adjust its gross profit strategy to maintain stable shipments
36Kr learned that according to the latest mobile industry research from TrendForce, the price hike of components led by memory chips has driven up the total cost of Apple's upcoming iPhone 18 series. Taking the BOM (Bill of Materials) cost of the 256GB version of this series as an example, the estimated year-on-year increase reaches around 38%, which is bound to push up the retail price of the whole device. To avoid undermining consumers' purchase intention, Apple may control the price increase by lowering gross profit margins, so as to gain larger market share.
NVIDIA Announces Partnership with 6 Financial Firms to Raise Over $500 Billion for AI Computing
NVIDIA announced that it will cooperate with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish an independent computing power financing platform, raising more than 500 billion US dollars of third-party capital for AI infrastructure construction. NVIDIA has signed a memorandum of understanding with these six financial institutions on August 10. The relevant cooperation will take effect only after the final agreement is signed. NVIDIA will cooperate with these companies to set up a special large-scale capital pool to provide financial support for NVIDIA's customers at attractive financing rates. (Financial Associated Press)
South Korea to set up a fund of over 3.5 billion US dollars, focusing on semiconductor materials, components and equipment sectors
According to reports, Kang Hoon-sik, Chief of Staff of the South Korean Presidential Office, stated on August 10 that as part of the plan to build a semiconductor industry cluster, South Korea will establish a special semiconductor fund with a scale of 5 trillion won (about 3.52 billion US dollars), which will focus on investing in promising chip materials, components and fabless enterprises. (Jiemian News)
AVATR refutes the rumor that "cooperation with Huawei is not a necessary item": it is a misinterpretation of the remarks
Recently, some media reported that Yong Jun, Vice President of AVATR, stated that he does not consider the cooperation model with Huawei a "necessary item" because AVATR has differentiated capabilities. In response to this, on August 10, AVATR refuted the rumor, stating that Yong Jun's original remarks only refer to the model of "letting Huawei develop an exclusive intelligent driving version" is unnecessary, and does not deny the value of cooperation with Huawei. At present, the two sides adopt a joint innovation cooperation model, jointly define and develop products throughout the whole process. Meanwhile, AVATR is also the second largest shareholder of Yinwang. (Securities Times)
The three major U.S. stock indexes closed lower collectively, while most large-cap tech stocks rose
36Kr learned that at the close of trading on August 10, the three major U.S. stock indexes fell collectively: the Dow Jones Industrial Average dropped 0.11%, the Nasdaq fell 0.32%, and the S&P 500 Index dipped 0.06%. Most large-cap tech stocks posted gains: SpaceX rose more than 4%, Netflix climbed over 2%, Amazon and Microsoft gained more than 1%, while Google, Tesla, and Meta saw slight increases. Intel fell more than 4%, NVIDIA dropped over 2%, and Apple declined more than 1%. Most popular Chinese concept stocks traded higher with fewer losers: Tencent Music and Alibaba rose more than 3%, iQIYI gained over 2%, Tiger Brokers, NIO, JD.com, and Pinduoduo all climbed more than 1%; XPeng Inc. dropped more than 1%, while Li Auto and Futu Holdings posted slight declines.
Hong Kong breaks 142-year high temperature record
Recently, the peripheral subsiding airflow of severe typhoon "Dolphin" has brought generally sunny and extremely sweltering weather to Guangdong, Hong Kong and other regions.
On the afternoon of August 9, the temperature in many areas of Hong Kong reached 37℃ or above. As of 3:30 p.m. on August 9, the Hong Kong Observatory Headquarters recorded a maximum temperature of 36.9℃, which is the highest temperature ever recorded since the Observatory was established in 1884. A maximum temperature of 39.8℃ was recorded in Sheung Shui, marking the highest record ever measured in Hong Kong since the Hong Kong Observatory set up automatic weather stations in 1980. (Yicai)
Listing in Progress
Baili Tianheng resubmitted its H-share IPO listing application on August 6, and all the capital raised by the enterprise will be fully invested in the R&D of new ADC drugs
On August 6, Baili Tianheng re-submitted the listing application to the Hong Kong Stock Exchange, and its issuance was suspended last November due to the sluggish market performance of the Hong Kong stock pharmaceutical sector. The company has sufficient funds on its account, and all the raised funds will be invested in the global ADC pipeline clinical trials, overseas operation and supply chain system construction. (Jiemian News)
Large Company Earnings Reports
Ninebot: Net profit for the first half of the year is 1.008 billion yuan, representing a year-on-year decrease of 18.79%
36Kr learned that Ninebot has disclosed its semi-annual report. In the first half of 2026, the company achieved operating revenue of 14.358 billion yuan, a year-on-year increase of 22.28%; the net profit attributable to shareholders of the listed company was 1.008 billion yuan, down 18.79% year on year; basic earnings per share was 14 yuan.
Sohu: Total Q2 2026 Revenue Hits $136 Million, Up 7% Year Over Year
36Kr learned that on August 10, Sohu Inc. released its unaudited second-quarter financial report for the period ended June 30, 2026. Sohu Inc. recorded total revenue of $136 million in the second quarter, representing a 7% year-over-year increase from the same period in 2025. Of this total, marketing services revenue stood at $15 million, and online game revenue reached $116 million. The financial report shows that the non-US GAAP net profit attributable to Sohu Inc. was $500,000, which included a write-off of approximately $13 million in income tax expenses. By comparison, the company recorded a net loss of $20 million in the same period of 2025.
Changqing Co., Ltd.: The net profit for the first half of the year reached 53.9542 million yuan, representing a year-on-year increase of 27.62%
36Kr learned that Changqing Co., Ltd. disclosed its semi-annual report. In the first half of 2026, the company realized operating revenue of 2.166 billion yuan, a year-on-year increase of 4.01%; the net profit attributable to shareholders of the listed company was 53.9542 million yuan, up 27.62% year on year; and the basic earnings per share was 0.0863 yuan.
Longsys: Net Profit Increased by 71528.66% Year on Year in the First Half of the Year
36Kr learned that Longsys unveiled its semi-annual report. In the first half of 2026, the company recorded a total operating revenue of 240.88 billion yuan, up 136.26% year on year; the net profit attributable to shareholders of the listed company reached 105.77 billion yuan, rising 71528.66% year on year; the basic earnings per share was 25.2 yuan.
Cool Products
Microsoft plans to release its next-generation MAIA 300 artificial intelligence chip in September
According to The Information: Microsoft plans to release its next-generation MAIA 300 artificial intelligence chip in September. Microsoft believes that the MAIA chip can run its self-developed models and OpenAI's models at lower costs. Microsoft plans to increase its own usage of MAIA while actively courting large key clients. (Jin10 Data APP)
Compiled｜Li Qi