8:00 36Kr Brief | After more than three years, the Federal Reserve announced a 25-basis-point interest rate hike; Zhong Xuegao has restarted its sales with price cuts, with products priced starting from 6.9 yuan; the South Korean "corpse skin injection" related enterprise has established a formal company in China for 6 years.
Today's Hotspot Overview
- SK Hynix: It has not confirmed any plans mentioned in the reports regarding its negotiations with Intel on U.S. memory chip production as of present
- CATL's share price dropped by more than 5%, breaking below the 300 yuan threshold and hitting a new low in the past 12 months
- Jensen Huang once again voiced his opposition to AI slowdown, noting that innovation and security are not an either-or proposition
- OpenAI's weekly user expenditure has exceeded that of Anthropic
- Starbucks is considering selling the majority stake of its Japanese business, with an estimated valuation of around 3 billion U.S. dollars
TOP 3 Major News
After more than three years, the Federal Reserve announced a 25-basis-point interest rate hike
On local time September 16, the Federal Reserve announced that it would raise the target range of the federal funds rate by 25 basis points, lifting the benchmark fund rate from 3.50% to 3.75% up to 3.75% to 4%. This is the Fed's first interest rate hike in more than three years since July 2023. The Federal Reserve pointed out in its policy statement that due to stubborn inflationary pressures and the continued rise in global energy prices caused by geopolitical conflicts, the current monetary policy is still insufficient to push inflation back to the 2% target.
During the Federal Open Market Committee meeting held from September 15 to 16, participants submitted forecasts for the most likely outcomes of the real gross domestic product growth rate, unemployment rate and inflation rate for each year from 2026 to 2029 and in the long term. The Federal Reserve expects to raise interest rates once more before the end of the year. (CCTV News)
Zhong Xue Gao brand announces its restart, with a suggested retail price ranging from 6.9 yuan to 7.9 yuan per unit
On September 16, the Zhong Xue Gao brand announced its restart. It is reported that the first batch of products of Zhong Xue Gao is expected to be launched in the fourth quarter of this year. The new corporate entity is Zhong Xue Gao Brand Management (Shanghai) Co., Ltd. The first three products to be released include Light Milk, Silky Cocoa and Half Cocoa Half Milk flavors, which are expected to be available on the market in the fourth quarter of this year, with a suggested retail price of 6.9 yuan to 7.9 yuan per unit.
The Zhong Xue Gao side stated that this price reduction is mainly to respond to consumers' expectations, while objective conditions such as raw material prices, logistics and transportation have also changed. The company said that the ex-factory price of the first batch of products is similar to that in the past, and it will support a leaner cost structure through more sound business operation strategies in the future. (China News Finance, Jiemian News)
South Korea's "corpse skin injection" has established a subsidiary in China for more than 6 years
Recently, a skin filler named Re2O from South Korean biotechnology company L&C BIO has aroused widespread public attention. Made from the skin tissue of deceased donors, the product claims to reduce fine lines and tighten pores, and is also known as "corpse skin injection". Priced at 3000 yuan per shot, it has been mired in safety and ethical controversies since its launch.
The reporter's inquiry on Qichacha shows that L&C BIO invested and founded Aienesi Biotechnology (Kunshan) Co., Ltd. in Kunshan, Jiangsu in June 2020, with a registered capital of about 7.78 million US dollars. Its legal representative is KIM DONG HYUN, and it is wholly owned by L&C BIO, having been established for 6 years up to now. The company's business scope includes import and export of goods, production of Class III medical devices, sales of sanitary products and disposable medical supplies, etc., and it has obtained a number of patent authorizations related to dermal tissue-derived extracellular matrix and acellular skin substitute materials. (Cover News)
AI Cutting-Edge
Jensen Huang Speaks Out Against AI Slowdown Again, Stating Innovation and Security Are Not an Either-Or Choice
On local time September 15, Jensen Huang, CEO of NVIDIA, once again voiced his opposition to the "collective slowdown" proposition gaining traction in the AI industry during a dialogue with Marc Benioff, CEO of Salesforce, at the Salesforce Dreamforce event held in San Francisco. Jensen Huang pointed out that innovation and security are not mutually exclusive, and there is no need to roll out new laws and regulations.
According to media reports on September 15, one day prior, Jensen Huang had already responded to the AI slowdown debate at the All-In Summit in Los Angeles. He received a call from U.S. President Donald Trump on site and turned on the speakerphone, during which Trump stated that data centers are "the oil of the next 20 to 25 years", and Huang responded that "we will not let this (AI slowdown) happen". In the summit discussion session, Huang said that AI security risks need to be taken seriously, but the claim that AI will eventually destroy humanity has "no scientific basis". He added that if AI enterprises believe their own R&D has gone out of control, they can voluntarily slow down their R&D progress. (The Paper)
Anthropic to open office in Singapore to expand its footprint in the Asian market
Anthropic PBC said the company will open an office in Singapore in October, which will be its fifth branch in the Asia-Pacific region, with the aim of expanding its global business layout. The company noted in a statement that the opening of the new office is part of its Asia-Pacific expansion plan, driven by strong corporate demand for Claude. Singapore's per capita usage of Claude ranks among the highest in the world. The company said that demand from regulated industries such as financial services and the government has remained robust in Singapore. (Sina Finance)
OpenAI is considering launching a new round of financing before its IPO, with a target valuation of 1.2 trillion US dollars
OpenAI is in preliminary discussions with investors, planning to complete a new round of private financing ahead of its proposed IPO with a target valuation of 1.2 trillion US dollars, to take full advantage of the success achieved by its latest AI model. People familiar with the matter added that the current communication with investors is still in the early stage, and this valuation figure may still change in the coming months. (Sina Finance)
OpenAI's weekly user spending surpasses Anthropic
The latest data from OpenRouter shows that users' spending on OpenAI's models exceeded that on Anthropic last week. This is the first time since February 2024, breaking Anthropic's two-and-a-half-year leading position. Peter Walker, Head of Analysis at OpenRouter, attributes this shift to OpenAI's new model Astra. (Sina Finance)
Feishu aily and Doubao Work will see a significant price drop after their in-depth integration
It is learned from multiple insiders that at present, Doubao Work and Feishu aily have realized deep integration, and will be fully billed based on the actual token consumption quota in the future. The new product is expected to greatly cut the selling price. Previously, the launch of Doubao Work achieved native integration with Feishu, the data and ecosystems of the two products are interconnected, they share one set of account system, and users can invoke both products on either Doubao Work or Feishu. At the initial launch stage, Feishu aily was once put on sale as a separate SKU, and later merged into Feishu's AI product line for unified sales. (Jiemian News)
Major Companies / Major Events
SK Hynix: No plans related to the reported negotiations with Intel on US memory chip production have been confirmed at present
It is reported that South Korean SK Hynix is negotiating with Intel to produce memory chips in the United States. Potential solutions include leasing part of the production capacity of Intel's chip plant in Ohio, or establishing a joint venture with Intel and large cloud computing enterprises. According to reports, if advanced memory technologies such as DRAM or High Bandwidth Memory (HBM) are involved, the matter may be subject to review by the South Korean government. SK Hynix stated that it has not confirmed any plans involved in the reports about the negotiations between SK Hynix and Intel on US memory chip production. It is exploring multiple options to enhance global competitiveness, but no specific plans or arrangements have been finalized yet. (JIEMIAN News, Yicai)
CATL fell more than 5% below the 300-yuan mark, and its share price continued to hit a new low in the past year
36Kr learned that the intraday decline of CATL widened to 5%, its share price fell below the 300-yuan mark, continuing to set a new low in the past year. The total market value of its A+H shares is approaching 1.4 trillion yuan, and it closed at 305.48 yuan on September 16.
Zhipu raises its year-end ARR guidance by 25% to 3 billion U.S. dollars
Zhipu stated at the teleconference for analysts and investors on September 16 that it has signed revenue-sharing agreements with a number of leading domestic and overseas cloud service providers, and the relevant revenue will be recognized starting from October. Under the cooperation model, the open-source GLM series models are provided as services in the form of hosted APIs on overseas cloud platforms. At present, the company's full-business-caliber ARR has reached 1.8 billion U.S. dollars, and its year-end ARR guidance has been raised from 2.4 billion U.S. dollars to 3 billion U.S. dollars. (The Financial Associated Press)
The Hong Kong Monetary Authority follows the pace of the Federal Reserve's interest rate hike
After the Federal Reserve announced its first interest rate hike in more than three years, the central banks of Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Oman and many other countries successively announced a 25-basis-point interest rate hike on the evening of September 16 local time.
Meanwhile, the Hong Kong Monetary Authority raised its benchmark interest rate by 25 basis points to 4.25%, which is consistent with the Federal Reserve's interest rate hike move. (Sina Finance, Cailian Press)
The three major U.S. stock indexes closed lower collectively, with the Dow hitting its lowest closing level since mid-June
36kr learned that at the close of September 16, the three major U.S. stock indexes all declined collectively. The Dow Jones Industrial Average fell 1.21%, posting its lowest close since mid-June; the S&P 500 Index dropped 0.44%, and the Nasdaq edged down 0.01%. Large-cap tech stocks were mixed: Intel rose more than 3%, Nvidia, Meta, Apple and Tesla saw slight gains, Microsoft fell over 1%, and Amazon and Google dropped more than 1% respectively. Most popular Chinese concept stocks went down: Bilibili fell more than 3%, Baidu dropped over 2%, Alibaba and NetEase lost more than 1%, Tencent Music and NIO posted slight declines, while iQiyi rose 8%, Li Auto gained more than 2%, and Xpeng Inc. climbed over 1%.
Wahaha Had One of Its Office Buildings Sealed Over Unpaid Employee Housing Provident Fund Contributions
Recently, the property under the name of Hulin Hongsheng Beverage Co., Ltd. of Heilongjiang (formerly known as Hulin Wahaha Beverage Co., Ltd.) was sealed by the People's Court of Jiguan District, Jixi City. The sealing period disclosed by the court is from August 20, 2026 to August 20, 2029, lasting for three years. On September 15, an internal employee of Wahaha revealed to reporters that the sealed property this time is not a production plant, but the enterprise's office building. The sealing is related to the enterprise's failure to pay the housing provident fund for its employees.
This production base has been shut down at present, and a total of nearly 100 employees are owed more than 2 million yuan in unpaid housing provident fund. After the employees submitted relevant supporting materials, the local housing provident fund administrative department launched a recovery procedure and applied to the court for property preservation. Staff from the Housing Provident Fund Management Center also confirmed the authenticity of the relevant property preservation application to Jiupai News, and stated that the case is being handled by the court. (Jiemian News, Jiupai News)
Shanghai Yahong: Controlling Shareholders and Other Related Parties Plan to Transfer 29.99% of the Company's Shares to Flyco Investment, and the Company's Stock Will Resume Trading on September 17
36Kr has learned from the announcement of Shanghai Yahong that Ningsheng Group, the controlling shareholder of the company, Xie Yaming and Xie Yue, the major shareholders holding more than 5% of the shares, have signed a share transfer agreement with Flyco Investment. The parties plan to transfer a total of 29.99% of the company's shares at a transfer price of 21.43 yuan per share, with a total transfer value of 900 million yuan. On the premise of the completion of the above share transfer via agreement, Flyco Investment plans to launch a partial tender offer to acquire 10.21% of the company's shares at the price of 21.43 yuan per share. The company's stock will resume trading on September 17, 2026.
State Grid: Strengthen the condition monitoring and operation maintenance of substations and lines surrounding key enterprises in sectors including chip manufacturing, precision processing, and biomedicine
36Kr has learned that State Grid Corporation of China has released a series of measures to build a modern power business environment and empower high-quality economic and social development. The measures note that the company will strengthen the condition monitoring and operation maintenance of substations and lines surrounding key enterprises of new quality productive forces such as chip manufacturing, precision processing and biomedicine, optimize the power grid framework structure and customer access schemes, guide customers to rationally configure devices including uninterruptible power supplies under the "one enterprise, one policy" principle, and improve the level of safe and stable operation.
Elon Musk Hints Again That Tesla and SpaceX May Merge
Elon Musk has once again hinted that deeper cooperation or even a merger may take place between his two core flagship assets, Tesla and SpaceX. When asked at the "All-In Summit" in Los Angeles why Tesla and SpaceX remain independent despite their increasingly close ties, Musk said it was a "good question" and suggested that the relationship between the two could eventually drive relevant moves. "With such extensive cooperation across so many dimensions, when there is such close collaboration in so many fields, who can imagine what kind of actions might be taken?" he added. (Sina Finance)
Pilots of free electric vehicle charging are launched in Shanghai, Guangzhou and other regions
Recently, many regions have launched V2G (Vehicle-to-Grid) pilots. When an electric vehicle is connected to a charging gun, it can automatically complete the charging and discharging process. By taking advantage of the peak-valley electricity price difference, vehicle owners not only do not need to pay for charging, but can also earn the price spread. If vehicle owners can participate in V2G projects for a long term, they can gain thousands of yuan per month. According to the calculation of State Grid Corporation of China, by 2030, if 10% of new energy vehicles participate in vehicle-grid interaction, the maximum regulation capacity can reach 86 million kilowatts, exceeding the total installed capacity of all pumped storage power stations across the country. At present, 32 pilot projects have been carried out in 9 cities nationwide, but large-scale implementation still faces difficulties including inconsistent standards, high investment in charging pile renovation, and car manufacturers' concerns over battery quality warranty. (Daqing Daily)
Starbucks is considering selling a majority stake in its Japanese business, with an expected valuation of around 3 billion U.S. dollars
People familiar with the matter said that Starbucks is considering selling a majority stake in its Japanese business, and the corresponding valuation is estimated to be about 3 billion U.S. dollars. (CLS)
UK's inflation rate rises to 3.1%, with surging fuel prices as the main contributing factor
Figures released by the UK Office for National Statistics on September 16 show that the country's inflation rate hit 3.1% in August, a further increase from the 2.9% recorded in July, drifting further away from the 2% inflation target set by the Bank of England. As the ongoing situation in the Middle East keeps impacting oil supply, rising fuel prices have become the primary driver behind the August inflation increase. The UK Office for National Statistics noted that pushed up by higher fuel prices, transportation costs climbed 4.6%, marking a further rise from the 3.6% growth posted in July. The latest forecast from a food industry research institution indicates that the UK's food price inflation will rise to 6.6% next year, and this upward trend will last until 2028. (CCTV News)
Unitree Technology's capital increase reaches approximately 400 million yuan
36Kr learned from Tianyancha App that recently, Unitree Robotics Co., Ltd. has undergone industrial and commercial registration changes. Its registered capital has increased from about 364 million RMB to approximately 404 million RMB, with an increase of around 11%. The enterprise type has been changed from joint stock limited company (foreign-invested, unlisted) to joint stock limited company (foreign-invested, listed). Founded in August 2016, the company's legal representative is Wang Xingxing, whose business scope includes R&D of intelligent robots, sales of intelligent robots, and manufacturing of industrial robots. The company is jointly held by Wang Xingxing, Shanghai Yuyi Enterprise Management Consulting Partnership (Limited Partnership), Hanhai Information Technology (Shanghai) Co., Ltd. and other entities.
The Hong Kong-Zhuhai-Macao Bridge will implement "no-stop customs clearance onboard vehicles"
John Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region, unveiled the "First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)", and subsequently released the "Chief Executive's 2026 Policy Address". In the Policy Address, John Lee announced that the Immigration Department will launch the "Smart Pass" pilot scheme at the Hong Kong Port of the Hong Kong-Zhuhai-Macao Bridge in December this year. The scheme leverages AI and facial recognition technology to automatically identify registered eligible cross-border private car drivers and passengers, to realize "no-stop customs clearance onboard vehicles". (Voice of Greater Bay Area)
Wong Wai Ming, CFO of Lenovo Group: Lenovo's valuation is undervalued by the market compared with Dell
36Kr has learned that at the "AI Investment Summit" hosted by Sina Finance, Wong Wai Ming, Senior Vice President and Chief Financial Officer of Lenovo Group, stated that compared with Dell, the current market valuation of Lenovo Group is still significantly low. Recently, institutions are also re-evaluating the AI infrastructure value of Lenovo. A report released by CLSA on September 15 stated that it remains confident in the global AI capital expenditure, and lists Lenovo as one of its top preferred targets related to global AI capital expenditure in China's technology industry.
Qunar: This week, the booking volume of flights and hotels for the National Day holiday rose by 56% week-on-week
36Kr has learned that train tickets for the day preceding the National Day (September 30) are officially released for sale, pushing the booking of air tickets and hotels into the peak period. Data from Qunar shows that as of September 16, the search volume for keywords including "Mid-Autumn Festival" and "National Day" on the platform has increased by 167% compared with last month. The booking volume of flights and hotels for the National Day holiday this week is 56% higher than that of last week, and the booking volume of popular routes with a distance of more than 2000 kilometers has doubled year on year.
NVIDIA RTX 60 Series Reportedly to Launch as Early as H1 Next Year
According to reports, NVIDIA's next-generation GeForce RTX 60 series graphics cards based on the Rubin architecture are currently targeted for launch in the first half of 2027. Earlier market rumors suggested that the release timeline might be delayed to the second half of 2027 or even 2028. It is reported that the series received internal approval several months ago, and specific development milestones for the 2027 launch have been set, though the plan is still subject to adjustment. (Jiemian News)
European Commission President: To Strengthen AI Cooperation With Canada and the United Kingdom
On September 16, Ursula von der Leyen, President of the European Commission, delivered the EU's annual State of the Union address, stating that the EU will strengthen artificial intelligence cooperation with Canada and the United Kingdom. Von der Leyen also said that major cutting-edge AI laboratories will be invited to discuss "how we can support the industry's current efforts to grasp the pace of development of cutting-edge technologies." (Jiemian News)
Supersonic airliner makes its debut at China Aviation Science and Technology Conference, and the flight from Beijing to Shanghai may only take half an hour in the future
Recently, at the China Aviation Science and Technology Conference held in Wuxi, Jiangsu, major scientific and technological issues in the aviation field for 2026 were released, and the supersonic airliner became the focus of the whole event. In the future, taking a supersonic airliner, the flight from Beijing to Shanghai may only take half an hour. Internationally, NASA's X-59 has completed low-boom supersonic test flights, and the verification aircraft of Tianmu Mountain Laboratory in China will also carry out its supersonic test flight sprint by the end of this year.
QIAN Zhansen, researcher at the Chinese Aeronautical Establishment and chief expert of Aviation Industry Corporation of China: Compared with the supersonic airliners in the past, we now have more advanced aerodynamic simulation, new materials and flight control technologies. However, the industry estimates that it will take at least about 20 years of continuous R&D and verification before ordinary people can take commercial supersonic airliners. (Red Star News)
IPO in Progress
India's central bank mandates Tata Holdings to go public, which may spawn the country's largest IPO in history
The Reserve Bank of India recently rejected the exemption application submitted by the Tata Group, requiring its holding company Tata Sons to comply with listing regulations. Analysts estimate that the valuation of Tata Sons upon listing may exceed 120 billion US dollars, making it the largest initial public offering in Indian history, and may profoundly change the ownership and governance structure of this century-old enterprise group. (Sina Finance)
Large Company Earnings Reports
Evergrande Auto Discloses Multiple Financial Reports in a Concentrated Manner
On the morning of September 17, Evergrande Auto released multiple financial reports in a concentrated manner on the Hong Kong Stock Exchange. For the six months ended June 30, 2026, the Group recorded total assets of approximately RMB 182 million and total liabilities of approximately RMB 32.722 billion, including borrowings of around RMB 16.283 billion and trade and other payables of around RMB 16.439 billion. During the reporting period, the Group's revenue stood at approximately RMB 9 million, with gross profit of around RMB 500,000; net profit amounted to about RMB 186 million, representing a year-on-year increase of approximately RMB 771 million. (Jiemian News)
Investment and Financing
OpenAI is considering launching a new round of financing before its IPO, with a target valuation of 1.2 trillion US dollars
OpenAI is in initial discussions with investors, planning to complete a new round of private financing before the proposed IPO at a target valuation of 1.2 trillion US dollars, to take full advantage of the success achieved by its latest AI models. People familiar with the matter added that the current communication with investors is still in the early stage, and the valuation figure may still change in the coming months. (Sina Finance)
Instinct is reportedly in talks for a new $1 billion financing round, with its valuation expected to reach $10 billion
According to people familiar with the matter, the startup behind the personal AI assistant Instinct is negotiating a financing round with a planned fundraising of 1 billion US dollars, and the company's valuation is expected to reach about 10 billion US dollars. HSG and Benchmark Capital are in talks to lead this financing round. Earlier this month, it was reported that the startup was seeking a new round of funding. According to insiders, as the access scope of Instinct's services continues to expand, its number of users has exceeded 100,000. This financing round has not been finalized, and both the transaction terms and the lead investor are subject to change. (Sina Finance)
"Anew Labs" Completes $290 Million Financing, With HSG and Other Institutional Investors Participating in the Deal
36Kr has learned that Anew Labs, an AI pharmaceutical R&D enterprise, recently closed its first round of independent financing with a total fundraising amount of 290 million US dollars. The investor lineup of this round covers HSG, IDG Capital, GL Ventures, 5Y Capital, Gaorong Capital and other investment institutions, and multiple domestic pharmaceutical industry groups also joined the round as strategic investors. It is reported that in June this year, ByteDance spun off its AI pharmaceutical business line to set up "Anew Labs" as its independent core brand.
"Jinjing Technology" Completes 300 Million Yuan Series B Financing
Jinjing Technology, a platform enterprise focused on high-end scientific instruments, has recently completed its 300 million yuan Series B financing. This round is led by existing shareholder Kangyu Capital in strategic investment together with Fujiang Capital, with joint investment from Transfar Group, CITIC Goldstone and Mr. Xiang Guanglong. This is also the second tranche of financing completed by the company after the Pre-B round within this year. The raised funds will be mainly used for the construction of three core directions: first, the construction of large-scale production lines for electron beam lithography machines and electron microscopes, to comprehensively improve production capacity and delivery capability; second, the layout of national regional marketing and service centers, to build a three-dimensional service network covering scientific research and industrial sectors; third, the expansion of the core technical team and R&D of next-generation products, to continuously consolidate the technical barriers in the fields of micro-nano processing and electron optics.
"Senmaru Electronics" completes RMB 100 million Series A financing
36Kr has learned that Senmaru Electronics, a wafer-level passive component enterprise, recently closed its RMB 100 million Series A financing. This round is jointly led by optical module industry players and YoVentures, with Shunrong Capital participating as a follow-on investor. The raised funds will be mainly used for the technical development of silicon capacitors and IPD platforms, production capacity construction and global market expansion, to accelerate the large-scale commercial implementation of silicon capacitors in application scenarios such as high-end optical modules and vertical power supply for AI chips.
"Sihai Technology" Secures Strategic Investment from Wondershare Technology
36Kr learned that recently, "Sihai Technology" (formerly Galaxy Stardust) announced that it has received strategic investment from Wondershare Technology. The raised funds will continue to focus on the iteration of underlying physics AI algorithms, the upgrading of intelligent hardware systems, the in-depth implementation in public health scenarios and technology output. At the same time, Sihai Technology has released the new generation of physics AI prevention and control device Stardust C1, to improve the closed-loop system of intelligent monitoring, prevention and control. It is understood that the enterprise was founded by Chen Shilei, a Doctor of Computer Science from Stanford University. It is the first domestic physical AI technology enterprise dedicated to vector control, providing integrated air-ground prevention and control services with AI monitoring and early warning, and its business scope covers all industrial scenarios including vector monitoring, risk early warning, intelligent prevention and control and other related fields.
Cool Products
Doubao AI Smartphone is Released, with Priority Support for ByteDance Ecosystem Product Invocation
On September 16, the Nubia NaviX Ultra equipped with the Doubao AI mobile assistant was officially put on sale. This smartphone relies on the newly launched 30-day rule public notification mechanism of the Screen Automated Execution Protocol (SAEP). At the current stage, the voice-operated Agent gives priority to covering ByteDance's products, supports invocation of the full product portfolio of ByteDance, and is also accessible for a small number of third-party applications such as Caocao Mobility. (Yicai)
Meta Reportedly to Launch Camera-Free AI Glasses Codenamed "Luna"
It is reported that Meta plans to launch a pair of camera-free smart glasses this autumn, with the internal codename "Luna". The glasses are equipped with 6 built-in microphones, which can support users to interact with the Meta AI chatbot and the newly launched AI agent Muse. It is reported that Luna will also be fitted with a button on the side of the temple to quickly activate Meta AI, and its speaker design is similar to existing products. Meta may release this pair of glasses at the Connect Developer Conference to be held next week, and plans to start shipping in October. (Jiemian News)
Edited by | Wang Haoyang