8:1 Kr | Passenger carrying snacks on the train was required to give up his seat, 12306 responded to the related incident; the celebration photo for Unitree Robotics' public listing was leaked; Zhang Ziyi cashed out 300 million yuan.
Today's Hotspot Guide
- Zhipu AI: GLM-5.3 API is officially launched with immediate effect
- Wang Xingxing, founder of Unitree, has a net worth of over 130 billion
- The box office of 2026 Qixi Festival screening schedule has exceeded 100 million
- Disney and its subsidiary American Broadcasting Company sue the US Federal Communications Commission
- The luxury resort owned by Bill Gates is facing a $100 million claim due to improper maintenance
TOP 3 Major News
Two people bought 3 train tickets to occupy seats by placing snacks on them, and were asked to give up the seats by passengers without seats, 12306 responded
On August 18, according to media reports, two little girls bought three hard-seat train tickets. A female passenger without a seat next to them wanted to take a seat there, but failed to reach an agreement after negotiation, so she called the train attendant for mediation. The female passenger said: "We are all on the same train, we should be considerate of each other, right?" The train attendant said: "The seats belong to them, it's no use telling me." Later, the topic of "Is it allowed to occupy seats with purchased tickets and place snacks on them to refuse others to sit?" topped the hot search list, attracting widespread attention and heated discussions. Some netizens said that it is reasonable not to give up the seat if you have bought the corresponding ticket, while some other netizens questioned: Two people bought 3 tickets, do they have the right to dispose of the seats that are not for their own use?
On August 19, Wanwei Video called the official 12306 hotline, and the operator said that normally one person can only buy 1 ticket, so for such cases, it is necessary to confirm whether the tickets for these seats are under the buyer's name. If they are under the buyer's name, the issue shall be resolved through negotiation based on the buyer's own will. In response to netizens' doubt about whether two people who bought 3 tickets have the right to dispose of the corresponding seats, the staff further explained that if a passenger has bought tickets for several people, all these tickets belong to the ticket buyer, and if other people want to use the seats, they also need to get the consent of the ticket buyer. (Wanwei Video)
Leaked Photos of Unitree Robotics' Listing Celebration Show "Investment Godfather" Neil Shen and Leehom Wang Present
On August 19, Unitree Robotics, known as "the first A-share humanoid robot stock", was officially listed on the Sci-Tech Innovation Board (STAR Market). As of the close of trading that day, its share price rose by 460.34% to 845 yuan per share. After the listing, Unitree Robotics held a post-listing appreciation luncheon. It is understood that Wang Xingxing, Chairman of Unitree Robotics, China's "Investment Godfather" Neil Shen and singer Leehom Wang appeared at the event. The leaked on-site photos show that Leehom Wang was seated at Table 1 and had a very pleasant conversation with Neil Shen. At present, Unitree Robotics has no response to this matter. HSG holds a total of 25.8995 million shares in Unitree Robotics through HSG Ningbo and Xiamen Yaheng, with a shareholding ratio of 6.4% after issuance. Calculated based on the market capitalization of 341.772 billion yuan at the closing price of the day, the market value of its holdings is about 21.9 billion yuan. (Sina Tech)
Photo: Sina Tech
Zhang Ziyi Cashes Out 300 Million Yuan
Over the four years, the several million yuan invested by actress Zhang Ziyi has grown to 300 million yuan. On the night of August 11, Hong Kong listed company Shanghai Shangmei Co., Ltd. (02145.HK) issued an announcement, stating that it plans to acquire a total 29% equity stake in Shanghai Yiye Biotechnology Co., Ltd. through its wholly-owned subsidiary Shanghai Qingdao, with a total transaction consideration of about 384 million yuan. Among the parties, Gongqingcheng Dajiao Investment Partnership (Limited Partnership), which is controlled by the well-known actress Zhang Ziyi, sells its 23% equity stake in Shanghai Yiye at a consideration of about 304.5 million yuan; Liu Ming, Vice President of Shangmei Co., Ltd., sells his 6% equity stake at a consideration of about 79.4396 million yuan.
According to the information from Tianyancha, Gongqingcheng Dajiao Investment Partnership (Limited Partnership) was established in 2018, located in Jiujiang City, Jiangxi Province, and is an enterprise mainly engaged in the commercial service industry. The registered capital of the enterprise is 3 million RMB. Dajiao Investment is 99% held by Zhang Ziyi, and 1% held by her father Zhang Yuanxiao. After the completion of this transaction, the direct shareholding ratio of Shangmei Co., Ltd. in Shanghai Yiye will increase from 51% to 80%, Zhang Ziyi will still retain about 6% of the equity, and Liu Ming will retain 5% of the equity. Shangmei Co., Ltd. clarified in the announcement that after the transaction is completed, Dajiao Investment will still hold about 6% of the equity in Shanghai Yiye, Zhang Ziyi will remain in the position of the brand's co-founder, and continue to act as the brand ambassador of "newpage Yiye". (Jiemian News)
AI Frontier
Anthropic's performance has surpassed OpenAI, with its growth rate far exceeding industry expectations
OpenAI's growth momentum is facing severe challenges. The ChatGPT developer posted a mere 18% quarter-on-quarter revenue growth in the second quarter, which not only disappointed some investors, but also paled in comparison with its competitor Anthropic — the latter not only recorded higher revenue than OpenAI in the same period, but also saw its growth rate far outstrip industry expectations.
On August 19, according to reports from The Wall Street Journal citing insiders, OpenAI's revenue in the second quarter stood at 6.7 billion US dollars, representing an 18% increase from the 5.7 billion US dollars in the first quarter. Meanwhile, its operating losses further expanded, casting a shadow over the company's highly anticipated IPO prospects. By contrast, Anthropic's revenue in the same period exceeded 11.5 billion US dollars, marking a quarter-on-quarter increase of more than 140%. It overtook this longer-established rival in quarterly revenue for the first time and recorded a small operating profit. The slowing growth of ChatGPT and the huge success of Anthropic's programming tool Claude Code are pushing OpenAI to re-evaluate its business strategy and restructure its management team. OpenAI has informed investors that the company's growth rate has picked up in the third quarter following the release of a series of new models in July. (Wall Street CN)
Cerebras Launches CS-4 System to Rival NVIDIA, Claiming Its Inference Speed Can Reach 30 Times That of GPU Servers
AI chip company Cerebras Systems released its brand-new rack-mounted AI system CS-4 on August 18 local time. The company stated that in single-user scenarios, the CS-4 system can deliver up to 30 times the token output per second of traditional GPU servers. The Cerebras CS-4 is embedded with 3 WSE-3 Turbo wafer-scale processors. The company noted that WSE-3 Turbo is the largest AI processor ever developed, with 4 trillion transistors integrated. Industry insiders pointed out that this system is designed for AI inference rather than model training. It uses Static Random Access Memory (SRAM) instead of the Dynamic Random Access Memory (DRAM) commonly adopted in the industry. (CLS)
Zhipu AI: GLM-5.3 API is officially launched with immediate effect
36Kr has learned from Zhipu AI's announcement that the GLM-5.3 API is officially launched starting from August 19. The model excels in complex coding, defensive cybersecurity and long-horizon tasks. At present, GLM-5.3 has been integrated into coding platforms including ZCode, and has been included in the GLM Coding Plan. The API is now open for calls, with its pricing remaining consistent with that of GLM-5.2. The model weights will be open-sourced on August 28 later this month.
Multiple U.S. states tighten regulations on data center construction, putting AI expansion under growing regulatory pressure
Josh Shapiro, Governor of Pennsylvania, the United States, has issued an executive order imposing strict restrictions on data center construction, requiring relevant projects to obtain local government approval before applying for state-level permits, comply with water conservation standards, bear additional power consumption costs and resolve their own power supply issues. Shapiro stated that a large number of data center projects have poured into Pennsylvania, and some of the developers have ignored the interests of local communities. With the rapid growth of AI investment, many U.S. states have begun to restrict data center expansion to cope with pressure from power supply, environmental protection and local communities. New York State has pushed for a maximum one-year suspension of environmental permits for large-scale data centers; Greg Abbott, Governor of Texas who has long supported the development of data centers, has also suspended the approval of some new projects and launched relevant reviews. (Sina Finance)
OpenAI Pauses Reinforcement Training for Two Weeks After Model Escape and Intrusion Incident, Unveils New Safety Measures
OpenAI stated on August 18 that it has suspended part of its AI training work for two weeks after its AI model went out of control from the controlled test environment in July and intruded into the systems of artificial intelligence firm Hugging Face and four other unnamed services. The company also released new operating protocols, noting that this move is designed to prevent AI models from running out of control during future training processes. The company indicated that part of its AI training work, including its "largest planned cutting-edge reinforcement learning training", remains suspended for now, while small-scale training and evaluation are still ongoing. Meanwhile, other customer-facing product R&D and related work are also being advanced continuously. (Sina Finance)
Big Corporations / Major Events
Wang Xingxing, founder of Unitree, has a personal net worth exceeding 130 billion yuan
On August 19, Unitree Robotics officially landed on the Sci-Tech Innovation Board (STAR Market), soaring 629.44% at the opening to 1100 yuan per share, with a total market value of 444.9 billion yuan. Calculated at the issue price of 150.80 yuan per share, investors who get one allotment can earn 474,600 yuan. The prospectus shows that founder Wang Xingxing directly holds 21.43% of the shares, and indirectly holds 9.84% through the employee shareholding platform, with a total shareholding ratio of 31.29%. Calculated on this basis, the personal net worth of founder Wang Xingxing exceeds 130 billion yuan. (National Business Daily)
Liang Wenfeng's new share subscription in Unitree Technology brings a floating profit of 1.1 billion yuan
On August 19, Unitree Technology was officially listed on the Sci-Tech Innovation Board (STAR Market), opening 629.44% higher at 1100 yuan per share, with a total market capitalization reaching 444.9 billion yuan. Calculated based on the issue price of 150.80 yuan per share, investors who get one winning lot in the new share offering can earn 474,600 yuan. For the listing of Unitree Technology, one of the "Six Little Dragons of Hangzhou", its shareholders behind the scene form a star-studded lineup. DeepSeek, High-Flyer Quantitative Investment and Jiuzhang Asset under Liang Wenfeng have obtained a total of about 1.1916 million shares through strategic placement and offline new share subscription. Calculated at the issue price, Liang Wenfeng's floating profit from the new share subscription of Unitree Technology exceeds 1.1 billion yuan. (China News Finance)
Lei Jun reaps a huge profit of 15.2 billion yuan from Unitree Robotics' new share subscription
On August 19, Unitree Robotics officially landed on the Sci-Tech Innovation Board (STAR Market), surging 629.44% at the opening to 1100 yuan per share, with a total market capitalization hitting 4449 billion yuan. Calculated based on the issue price of 150.80 yuan per share, investors who win one allotment can earn 474,600 yuan. The listing of Unitree Robotics, one of the "Six Little Dragons of Hangzhou", has a star-studded lineup of shareholders behind it. After sorting out relevant information, it is found that Astrend IV, an affiliate of Shunwei Capital founded by Lei Jun, holds 16.106 million shares, with a floating profit exceeding 15.2 billion yuan. (CNS Finance)
The three major U.S. stock indexes closed higher collectively, with Tesla up more than 4%
According to 36Kr, as of the close on August 19, the three major U.S. stock indexes rose in tandem: the Nasdaq Composite rose 0.16%, the Dow Jones Industrial Average rose 0.22%, and the S&P 500 Index rose 0.21%. The Nasdaq Biotechnology Index surged 6.4%, posting its biggest gain in six years; Moderna rose by more than 176%, and Merck climbed over 12%. Most large-cap tech stocks went up: Tesla increased by over 4%, Netflix gained more than 3%, Amazon and Apple rose by over 2%, while Microsoft, Meta and Google saw modest increases; Nvidia fell by nearly 1%. Most popular Chinese concept stocks posted gains rather than losses: Li Auto, Miniso rose over 4%, Pinduoduo climbed more than 3%, Tencent Music, Baidu, XPENG Group rose over 2%, Bilibili, JD, Tiger Brokers, NIO gained more than 1%; iQiyi fell by more than 8%, and Weibo dropped over 1%.
JD Unveils Its Robotics Strategy
36Kr has learned from JD Chalkboard that at the 2026 World Robot Conference, JD served as the WRC Global Strategic Partner and officially released its core robotics strategic layout. Based on three major dimensions of supply chain, service and technology, it clarifies its development plan in the robotics sector. At the supply chain level, JD will invest 100 billion resources in the robotics field by 2028, helping 100 brands achieve independent sales exceeding 1 billion yuan. At the service level, in the next five years, JD will build after-sales service capabilities covering more than 100 countries around the world, creating more than 100,000 new jobs for robotics after-sales service engineers; it will set up 80 RoboBase robotics bases to build a full-lifecycle service platform for robots. At the technology level, JD's embedded intelligent system JoyInside will accelerate the construction of the "AI Home" smart ecosystem, and it is expected that more than 10 million terminal devices including robotics products will be connected to the ecosystem within the year.
Multiple regions announce adjustments to minimum wage standards
Recently, many regions have announced that they will raise the minimum wage standards starting from this year. A few days ago, the People's Government of Guangdong Province issued the Notice on Adjusting the Minimum Wage Standards of the Province, deciding to adjust and raise the monthly minimum wage standards and hourly minimum wage standards for non-full-time employees starting from September 1, 2026. After this adjustment, the whole province is divided into three tiers of standards.
Among them, Guangzhou and Shenzhen implement the first-tier standard: the minimum wage in Guangzhou is adjusted to 2680 yuan per month, and that in Shenzhen is adjusted to 2700 yuan per month, with the corresponding hourly minimum wage for non-full-time employees being 25.4 yuan per hour. The second-tier standard is adjusted to 2300 yuan per month, which applies to Zhuhai, Foshan, Dongguan and Zhongshan, with the corresponding hourly minimum wage for non-full-time employees being 21.9 yuan per hour. The third-tier standard is adjusted to 2040 yuan per month, which applies to Shantou, Shaoguan, Heyuan, Meizhou, Huizhou, Shanwei, Jiangmen, Yangjiang, Zhanjiang, Maoming, Zhaoqing, Qingyuan, Chaozhou, Jieyang and Yunfu, with the corresponding hourly minimum wage for non-full-time employees being 20.2 yuan per hour.
Shanxi will raise its minimum wage standards starting from October 1. After this adjustment, the monthly minimum wage standards for full-time employees in Shanxi Province are divided into three tiers: 2350 yuan for first-tier regions, 2250 yuan for second-tier regions, and 2150 yuan for third-tier regions. The hourly minimum wage standards are also raised simultaneously: the hourly minimum wage standards for full-time employees are 13.5 yuan for the first tier, 12.9 yuan for the second tier, and 12.4 yuan for the third tier; the hourly minimum wage standards for non-full-time employees are 25.3 yuan for the first tier, 24.2 yuan for the second tier, and 23.3 yuan for the third tier.
According to the official WeChat account of Xinjiang Human Resources and Social Security Department, the Notice on Adjusting the Minimum Wage Standards of Xinjiang Uygur Autonomous Region shows that the minimum wage standards of the autonomous region will be adjusted, and the adjusted standards will come into effect on October 1, 2026. After this adjustment, the three tiers of monthly minimum wage standards for full-time employees are 2270 yuan, 2080 yuan and 1930 yuan respectively. The three tiers of hourly minimum wage standards for non-full-time employees are 22.7 yuan, 20.8 yuan and 19.3 yuan respectively. According to the Provisions on Minimum Wage, different administrative regions within the jurisdiction of a province, autonomous region or municipality directly under the Central Government may adopt different minimum wage standards. Ding Changfa, associate professor of the Department of Economics at Xiamen University, said that there are obvious differences in economic development and income levels across different regions, so the minimum wage standards will also vary. (Yicai)
Unitree Robotics Establishes Two New Companies This Year
36Kr has learned from media reports that on August 19, Unitree Robotics opened 629% higher at 1100 yuan, with a single-lot profit of 474,600 yuan and a total market capitalization of 444.9 billion yuan. According to the Tianyancha App, Unitree Robotics Co., Ltd. was founded in August 2016, with a registered capital of about 360 million RMB. Its legal representative is Wang Xingxing, and its business scope includes R&D of intelligent robots, sales of intelligent robots, and manufacturing of industrial robots, etc. It is jointly held by Wang Xingxing, Hanhai Information Technology (Shanghai) Co., Ltd. and other shareholders. Foreign investment information shows that since the beginning of this year, the company has established two new subsidiaries, Shanghai Tuotian Smart Connection Technology Co., Ltd. and Hangzhou Unitree Star Alliance Technology Co., Ltd.
The iPhone 18 launch event may be scheduled for September 9
The date of Apple's annual autumn launch event is likely to be unveiled. According to foreign media reports, Apple may hold a new product launch event on September 9, where the new-generation iPhone series is expected to make its debut. Apart from conventional upgrades in performance, imaging, AI and other aspects, Apple's first foldable-screen iPhone that has drawn widespread attention previously continues to spark discussions. (Weibo Digital)
2026 Qixi Festival Slot Box Office Exceeds 100 Million Yuan
36Kr has learned that according to data from Maoyan Professional Edition, as of 11:30, the total box office of the 2026 Qixi Festival slot (August 19) has exceeded 100 million yuan. *Welcome to Dragon Restaurant*, *Empty Gun* and *Odyssey* temporarily rank top three on the Qixi Festival slot box office chart.
Shanghai Metro Fare Optimization Plan Announced
The hearing plan for Shanghai Metro fare optimization has been released. On the afternoon of August 19, the Shanghai Municipal Development and Reform Commission issued the second announcement for the public hearing on optimizing the rail transit fare mechanism, making public the list of hearing participants and the hearing plan, etc. It will widely solicit opinions and suggestions from all sectors of society from August 19 to September 6, and the public can put forward their feedback by sending emails or posting letters. The announcement shows that there are two fare optimization hearing plans, which differ in the starting fare, starting ride distance, and adjustment range of the fare increase interval. Overall, the adjustment ranges of the two plans are roughly equivalent. At the same time, Shentong Metro Group has launched preferential measures such as rail transit multi-ride tickets and full-spending discount plans, aiming to reduce the travel costs of commuters, especially those who commute over long distances.
According to preliminary calculations by relevant departments, after the implementation of the new fare mechanism and preferential measures, the average fare per passenger trip under Plan 1 will increase from 4.23 yuan to 5.22 yuan, an increase of 0.99 yuan; the average fare per passenger trip under Plan 2 will increase from 4.23 yuan to 5.2 yuan, an increase of 0.97 yuan. However, if passengers purchase multi-ride tickets, the preferential margin they can enjoy under the Plan 1 mechanism will be slightly higher than that under Plan 2. (Yicai)
Surge in Demand and Rising Prices: Two Leading Storage Players Record Over 10-fold Net Profit Growth in the First Half of the Year
The semi-annual report of storage giant GigaDevice shows that it achieved an operating revenue of 11.566 billion yuan in the first half of the year, up 178.67% year on year, with net profit reaching 6.857 billion yuan, a year-on-year increase of 1091.5%. The semi-annual report disclosed by Puyuan Co., Ltd. on the same day shows that its operating revenue in the first half of the year hit 3.959 billion yuan, up 336.67% year on year, and its net profit reached 827 million yuan, surging 1929.65% year on year. The sharp rise in demand for storage chips and the increase in their prices driven by AI computing power construction have become the common reason for the substantial performance growth. (Securities Times)
The ChiNext Index opened lower and trended down, falling by more than 6%, with over 100 stocks across the entire market hitting the daily down limit
On August 19, the market underwent full-day correction, with the three major indices opening lower and moving downward throughout the trading session. The total trading volume of the Shanghai and Shenzhen stock markets reached 2.51 trillion yuan, 110.3 billion yuan higher than that of the previous trading day. On the market, hot spots were relatively scattered, with more than 5,000 stocks in the whole market declining and over 100 stocks hitting the daily down limit. In terms of sectors, the coal sector strengthened against the trend, with Baotailong, Shaanxi Black Cat, Dayou Energy and Meijin Energy hitting the daily 10% up limit. The chemical sector saw a sudden rally, with Hong Sifang posting three consecutive limit-up boards, and Huajin Co., Zhongyida hitting the daily up limit. The real estate sector performed actively, with 5i5j, Nandu Property hitting the daily up limit. The agricultural sector remained active repeatedly, with Jingliang Holdings notching three consecutive limit-up boards. The banking sector rallied against the trend, with Bank of Jiangsu hitting a record high. On the declining side, high-valued stocks collectively retreated, with Aili Home, Yiming Food, Gold Mantis, Guifaxiang hitting the daily down limit. The humanoid robot concept fluctuated and dropped, with Zhongda Leader, Greatoo Intelligent, Wuzhou Xinchun, Jintuo Co. hitting the daily down limit. By the close, the Shanghai Composite Index fell 2.4%, the Shenzhen Component Index dropped 5.01%, and the ChiNext Index slumped 6.26%. (CLS)
Disney and Its Subsidiary American Broadcasting Company Sue the U.S. Federal Communications Commission
On local time August 18, The Walt Disney Company and its subsidiary American Broadcasting Company (ABC) filed a lawsuit against the U.S. Federal Communications Commission (FCC), alleging that the agency's acts of attempting to challenge its broadcast license and regulate its talk show The View are illegal. (Jiemian News)
Samsung Electronics is reportedly raising its chip foundry prices amid surging demand, with a maximum increase of up to 15%
According to people familiar with the matter, as the demand for AI chips has led to tight production capacity, Samsung Electronics has raised the prices of new orders for some of its advanced chip foundry services by up to 15%. (Jiemian News)
Samsung Electronics is reportedly aiming to take the lead in completing the R&D of 1d nm DRAM memory in September this year
According to TheBell, recent industry insiders revealed that Samsung Electronics targets to be the first to complete the R&D of 1d nm DRAM memory in September 2026, enter the mass production transfer phase in December 2026, launch production line construction in the first half of 2027, and is expected to realize the first batch of mass production by the end of 2027. (CLS)
Porsche Responds to "Discontinuing Taycan Production Before 2030": Streamlining Derivative Models Instead of Axing the Entire Model Lineup
Recently, German media reported that Porsche plans to discontinue production of its first all-electric sedan Taycan before 2030. It is alleged that the Porsche Works Council has in principle reached an agreement with the management to gradually phase out Taycan's production around 2030, but no formal written document has been formed yet. In response, Porsche's headquarters in Germany stated that the company is streamlining the number of Taycan's derivative models to reduce product complexity, rather than scrapping the entire model line. There are no plans to discontinue Taycan in the short term. We have invested a large amount of resources in this model, and will continuously evaluate its future development according to changes in market demand. Taycan is Porsche's first all-electric four-door sports sedan, which made its debut in 2019, with multiple versions launched and annual facelifts carried out thereafter. In terms of market performance, global deliveries of Taycan peaked at about 41,000 units in 2023, and have declined year by year since then: around 29,000 units in 2024, approximately 16,000 units in 2025, and only about 6,000 units in the first half of 2026. In the Chinese market, the sales volume in the first five months of 2026 was only 110 units, with an average of about 22 units per month, and its market performance continues to face pressure. (The Economic Observer)
Starting next week, ChatGPT ads will be expanded to 31 European countries
OpenAI announced that starting next week, ChatGPT ads will be expanded to 31 European countries. (Sina Finance)
Google Claims Its AI Can Perform the Work of Frontline Deployment Engineers
Andy Guttman, Vice President and General Manager of Google Cloud Database Products, said that although Google Cloud recently announced plans to recruit hundreds of frontline deployment engineers to assist customers in developing applications based on Gemini, the company is now using AI to automate part of these professional consultants' work for large enterprises, which mainly focuses on enterprise data governance. Guttman noted that Google has realized the limitations of this highly labor-reliant model. "If you want to activate all data of an enterprise, simply expanding the team by hiring more people is far from enough to achieve the goal." (Sina Finance)
SK Hynix: Plans to Allocate Over 50% of Its Cumulative Free Cash Flow to Shareholder Returns Over the Next 3 Years
SK Hynix announced on August 19 that during the policy period from 2025 to 2027, it plans to allocate more than 50% of its cumulative free cash flow to shareholder returns, enhance shareholder value through measures such as treasury share repurchase and cancellation, and cash dividend distribution, while considering expanded dividend schemes including fixed dividends and special dividends.
SK Hynix stated that as the company continues to generate considerable free cash flow, it will implement shareholder returns in advance. In view of the fact that the recent share price is considered to be lower than the company's intrinsic value, the company has decided to carry out treasury share repurchase and cancellation at a scale of 40 trillion won, so as to optimize capital allocation and enhance shareholder value. (Jiemian News)
Luxury Resort Under Bill Gates' Name Faces $100 Million Claim Due to Poor Maintenance
According to reports, a luxury resort owned by American billionaire Bill Gates located on Nevis Island in the Caribbean is facing a lawsuit with a claim amount of 100 million U.S. dollars over property condition issues. The Homeowners' Association of Four Seasons Resorts Nevis sued Nevis Peak Holdings last week. The homeowners allege that the resort charges high fees, with messy and dirty environment, dilapidated facilities and severe infrastructure problems. Over the past four years, they have spent an extra 1.4 million U.S. dollars out of their own pockets on power and infrastructure repairs. The homeowners' association demands that Nevis Peak Holdings solve the above problems, or pay more than 100 million U.S. dollars to compensate for the asset value losses recognized by the homeowners. (Sina Finance)
Tesla Launches Doubao Large Model
36Kr learned from Volcano Engine that Tesla has launched the Doubao large model. According to the introduction, the relevant function has been successively pushed to Tesla's in-vehicle infotainment system.
Hyundai Motor India will raise prices starting from September, with a maximum increase of 1%
Hyundai Motor India stated on August 19 that starting from September this year, the prices of all its models will be raised by up to 1%, and the specific increase varies by model and configuration. The company attributes this price hike to rising input costs and commodity costs, increased operating expenses, and sustained geopolitical and macroeconomic uncertainties. (Jiemian News)
U.S. Treasury Announces to at Least Double the Scale of Long-Term Treasury Repurchase Operations
The U.S. Department of the Treasury announced on August 19 that it will expand the scale of liquidity-support repurchase operations for long-term nominal coupon Treasury securities (10-20 year and 20-30 year varieties), raising the upper limit for a single operation from the previous 2 billion U.S. dollars to at least 4 billion U.S. dollars. This adjustment will take effect on September 9 local time and last until the end of this quarter (November 4, 2026). (Jiemian News)
OpenAI CFO: The company may go public in 2027, or even earlier
According to two insiders, OpenAI Chief Financial Officer Friar told employees at the all-staff meeting on August 19 that the company will be listed in 2027; if its business maintains rapid growth, it is also possible to enter the public market even earlier. (Sina Finance)
Citi says Bessent's move is costing the dollar, advises clients to adopt corresponding strategies to cope
Citigroup believes that the latest move by U.S. Treasury Secretary Scott Bessent to push down long-term borrowing costs may lead to the weakening of the U.S. dollar in the short term. The announcement from the Treasury Department on August 19 to expand the scale of repurchases of 10 to 30-year Treasury bonds pushed long bond yields lower and drove the U.S. dollar to its lowest level since mid-May. Strategists including Dirk Willer from Citi pointed out in the research report that the effort to contain yields may put pressure on the U.S. dollar. "The main cost of lowering interest rates in such a way is the weakening of the currency," they wrote. Citi advises clients to use the U.S. dollar to finance bets on high-yield emerging market currencies in response to this move, as the latter "should also perform well in the current environment". The bank previously preferred to use the Canadian dollar and the Swiss franc as financing currencies. The strategists also believe that gold has room to rise, and abandoned the underweight strategy for duration, on the grounds that the long end of the yield curve is more constrained and the Federal Reserve is not expected to raise interest rates at the next two meetings. They said, "At this stage, investors may have to close the steepening trade, turn to buy gold again and sell" the U.S. dollar. (CLS)
Stripe Acquires OpenRouter
Stripe announced on August 19 that it plans to acquire startup OpenRouter, as the fintech company expands into the artificial intelligence model market. Terms of the transaction were not disclosed. People familiar with the matter said the deal is valued at about 7.5 billion US dollars, of which 1.5 billion US dollars will be allocated to the founders of OpenRouter. Less than three months ago, OpenRouter just completed a $113 million financing round at a valuation of around $1.3 billion. (Sina Finance)
Marvell Enters Commercial Agreement with Google to Develop Custom Semiconductor Products
On August 19, Marvell Technology announced that it has reached a commercial agreement with Google to develop custom semiconductor products for the latter. This expanded partnership covers a series of custom chip projects associated with the TPU ecosystem, including AI inference accelerators, storage controllers, network interface controllers, memory interface controllers and near-memory computing. To support this cooperation, Marvell issued a warrant to Google on August 18, which allows the latter to purchase up to 58.97 million shares of the company's common stock at an exercise price of $206.58 per share. (Jiemian News)
IPO in Progress
Chery's robotics subsidiary AiMoga is considering an independent public listing
Chery's robotics subsidiary AiMoga is considering an independent public listing. (CLS)
The IPO tutoring status of Yangtze Memory Technologies Co., Ltd. has been changed to "Tutoring Acceptance"
36Kr learned from the disclosure on the official website of China Securities Regulatory Commission that the IPO tutoring status of Yangtze Memory Technologies Holding Co., Ltd. has been changed to "Tutoring Acceptance", and the tutoring securities firms are CITIC Securities and CITIC Construction Investment Securities.
Benmo Power (Beijing) Technology Co., Ltd. Submits Listing Application to Hong Kong Stock Exchange
36Kr has learned from the filings of Hong Kong Stock Exchange that on August 19, Benmo Power (Beijing) Technology Co., Ltd. submitted its listing application to HKEX, with CITIC Securities (Hong Kong) Limited acting as the exclusive sponsor.
Large Corporate Earnings Reports
Weibo: Total Q2 Revenue Reached USD 453.8 Million, Adjusted Operating Profit Stood at USD 125.4 Million
According to 36Kr, Weibo released its financial report for the second quarter of 2026. The financial report shows that Weibo's total revenue in the second quarter was USD 453.8 million (equivalent to about RMB 3.08 billion), of which advertising revenue was USD 381 million (equivalent to about RMB 2.584 billion). The adjusted operating profit in the second quarter was USD 125.4 million (equivalent to about RMB 846 million), with the adjusted operating margin reaching 28%. In terms of users, as of the end of the second quarter, Weibo's monthly active users reached 561 million, and daily active users reached 254 million.
Hong Kong Exchanges and Clearing: Profit attributable to shareholders for the first half of the year amounted to 105.68 billion yuan, up 24% year on year
36Kr has learned that Hong Kong Exchanges and Clearing released its 2026 interim results, with revenue and other gains and profits in the first half of 2026 hitting a record high for any half-year period. Revenue and other gains in the first half of the year reached 167.02 billion yuan, up 19% compared with the same period in 2025; profit attributable to shareholders stood at 105.68 billion yuan, up 24% from the first half of 2025.
Kuaishou: Revenue of the second quarter financial report reaches 35.5 billion yuan, a year-on-year increase of 1.4%
36Kr has learned that Kuaishou released its 2026 second-quarter financial report. According to the financial report, Kuaishou posted a revenue of 35.5 billion yuan in the second quarter, up 1.4% year on year; core business revenue, including online marketing services and other services mainly based on e-commerce and Kling AI, increased by 7.4% year on year; the adjusted net profit was 3.9 billion yuan. In terms of user performance, the average daily active users of the Kuaishou app reached 412 million, and the average monthly active users reached 797 million, hitting an all-time high. In the second quarter, the number of users using Kuaishou's dual-end private message feature increased by more than 15% year on year.
Kingsoft Office: Operating Revenue in H1 Reaches 3.313 Billion Yuan, Up 24.69% Year on Year
36Kr has learned that Kingsoft Office disclosed its semi-annual report, stating that the company achieved an operating revenue of 3.313 billion yuan in the first half of the year, representing a year-on-year increase of 24.69%; its adjusted net profit was 1.087 billion yuan, up 28.29% year on year. The company's R&D investment in the first half of the year was 1.152 billion yuan, with a year-on-year growth of 20.17% and an expense ratio of about 35%. WPS personal business realized revenue of 2.014 billion yuan, up 15.20% year on year, and the cumulative number of annual paying users of WPS Office in China reached 48.25 million, marking a 15.44% year-on-year increase.
Yunda Holdings Co., Ltd.: Express service revenue in July totals 4.643 billion yuan, up 12.69% year on year
36Kr has learned from the announcement of Yunda Holdings Co., Ltd. that its express service business revenue in July reached 4.643 billion yuan, with a year-on-year growth of 12.69%. The total business volume hit 2.172 billion tickets, rising 0.46% year on year. The revenue per express service ticket is 2.14 yuan, marking a 12.04% year-on-year increase.
YTO Express: Net profit in the first half of the year reached 3.175 billion yuan, up 73.44% year on year
36Kr has learned that YTO Express disclosed its semi-annual report. In the first half of 2026, the company realized an operating revenue of 38.893 billion yuan, a year-on-year increase of 8.39%; the net profit attributable to shareholders of the listed company was 3.175 billion yuan, up 73.44% year on year; the basic earnings per share was 0.9276 yuan. The company plans to distribute a cash dividend of 1.2 yuan (tax included) for every 10 shares.
STO Express: Its express service business revenue in July reached 5.37 billion yuan, with a year-on-year increase of 25.26%
According to the information obtained by 36Kr, STO Express announced in its official announcement that its express service business revenue in July 2026 was 5.37 billion yuan, up 25.26% year on year; the completed business volume reached 2.603 billion tickets, with a year-on-year growth of 19.34%; the per-ticket revenue of express service was 2.06 yuan, representing a year-on-year increase of 4.57%.
Hengrui Medicine: Net profit in the first half of the year reached 44.65 billion yuan, up 0.34% year on year
36Kr learned that Hengrui Medicine disclosed its semi-annual report. In the first half of 2026, the company realized operating revenue of 154.56 billion yuan, down 1.94% year on year; the net profit attributable to shareholders of the listed company was 44.65 billion yuan, up 0.34% year on year; the basic earnings per share was 0.68 yuan.
Seres: Operating Revenue in H1 Reaches 57.493 Billion Yuan, Down 7.87% Year-on-Year
36Kr learned that Seres disclosed its semi-annual report, with operating revenue of 57.493 billion yuan in the first half of the year, down 7.87% year-on-year; the net loss was 1.717 billion yuan, compared with a net profit of 2.941 billion yuan in the same period of the previous year.
Investment and Financing
AI chip startup Etched raises $700 million in funding, valuation doubles to $21 billion in nearly a month
On local time August 18, AI chip startup Etched announced the completion of a new $700 million funding round, bringing the company's valuation to $21 billion. This round of funding is led by Jane Street, with participation from Kleiner Perkins, HSG, a16z, Tiger Global, Bain Capital Ventures, Neo, Primary, Stripes, Positive Sum and Blackstone, etc. Etched also announced that Jane Street has become its first customer. Previously, Etched completed its Series C financing last month, when the company's valuation was $10.3 billion. (Jiemian News)
Cool Products
Sneak peek of Xiaomi's new-generation humanoid robot: bipedal, around 1.7 meters tall, with 66 degrees of freedom across the whole body
According to Xiaomi insiders, the next-generation humanoid robot that Xiaomi is about to unveil for the first time is about 1.7 meters in height, weighs 66kg, and has 66 degrees of freedom across the whole body, half of which are concentrated in the hands. At present, this robot is in the prototype stage, and will be exhibited in Europe after its first domestic show. In 2022, Xiaomi released its full-size humanoid robot "CyberOne", which made its debut nearly two months earlier than Tesla's Optimus prototype. CyberOne is 1.77 meters tall, weighs 52kg, and has 21 joint degrees of freedom. Xiaomi has rarely released updates related to its robotics business since then. (National Business Daily)
Compiled｜Putao