8:00 36Kr Brief | Zunjie announces the pedal upgrade schedule; Is the hairy crab market crashing across the board? The price of small and medium-sized hairy crabs has dropped to 5 yuan each; The World Health Organization states that there is no evidence of sustained transmission for the unexplained pneumonia incident in Russia

Today's Hotspot Guide

• Moonshot AI increases its capital to approximately 14.37 million
• The subsidiary of the global leading MLCC manufacturer plans to expand production
• Are distributor fellowship associations being dissolved "in batches"? Moutai has issued a response
• The Eurasian Economic Union continues to impose anti-dumping duties on oil well pipes from China
• Apple is developing cameras that do not "record videos"

TOP 3 Major News

Zunjie Announces Pedal Upgrade Schedule

On the afternoon of October 11, Zunjie customer service confirmed to reporters that the upgrade scheme for the brake pedal bracket base of the Zunjie V800 is expected to be confirmed at the end of October, and the upgrade will be rolled out successively starting from November. On the evening of October 8, Zunjie Auto released a statement on issues related to the brake pedal bracket base of its vehicles, noting that it will further optimize the design of this component and provide free upgrade options for users who have taken delivery of their vehicles.

On the afternoon of the 11th, Zunjie customer service told reporters that at present, users who have already picked up their vehicles can make reservations for registration at any of its service centers nationwide, or register by directly contacting the dealership where they purchased the car, and the user center will contact users as soon as possible when the upgrade is available. For vehicles that have not been shipped, they will be upgraded directly before delivery, and no additional operation is required from users. However, the current upgrade scheme has not been finalized, and specific upgrade details cannot be provided for the time being. (Beijing Daily, CLS)

Is the Chinese mitten crab market crashing across the board? Small and medium-sized specimens drop to 5 yuan per piece

Recently, the topic of "the Chinese mitten crab market crashing across the board" has drawn massive public attention and topped the Weibo trending list. According to a report from Kankan News on October 9, on Xinhhu Road, Putuo District, Shanghai, the price of some small and medium-sized female crabs has dropped to 5 yuan per piece, and Taihu Lake crabs weighing 100 to 150 grams each are sold for only 10 yuan. However, the price of super-sized premium crabs remains firm. Crab farmers said that the ex-water price of a locally produced Chinese mitten crab weighing more than 250 grams is around 150 yuan, and a pair of one male and one female crab is sold for 300 yuan.

According to Jingzhou News Network, currently in the Jingzhou market, the price of large-sized 200-gram female crabs is 50-55 yuan per 500 grams, the price of 200-gram male crabs is 28-30 yuan per 500 grams, the price of 100-gram female crabs is around 35 yuan per 500 grams, and the price of 100-gram male crabs is 20-25 yuan per 500 grams. The overall price is 5-10 yuan per 500 grams lower than the same period last year.

Jiemian News checked the Freshippo APP and learned that the current selling price of live Chinese mitten crabs (female) weighing 115 to 135 grams each is 25.9 yuan; the selling price of female crabs weighing 165 to 185 grams each is 55.9 yuan. On the JD platform, the 8-piece gift box of all-female crabs weighing 150 to 190 grams each is priced at 218 yuan, averaging about 27 yuan per piece; the 8-piece gift box of all-female crabs weighing 300 to 315 grams each is priced at 1985 yuan, averaging 248 yuan per piece. (Sources: Kankan News, Jingzhou News Network, Jiemian News)

WHO: No evidence of sustained transmission in Russia's pneumonia event of unknown cause

According to CCTV News, the World Health Organization released a communique on its official website on the 10th, stating that regarding the death of a staff member at the Siberia and Far East Anti-Plague Research Institute in Irkutsk, Russia, based on notifications from the Russian side, WHO has not found any evidence of sustained transmission related to this incident, but the pathogen causing the fatal disease has not yet been identified. According to the Russian notification, a 28-year-old female staff member at the Siberia and Far East Anti-Plague Research Institute in Irkutsk died of "pneumonia of unknown cause" on the 2nd.

WHO stated that according to notifications from the Russian health authorities, no plague cases have been reported in Irkutsk Oblast recently, comprehensive integrated epidemic prevention measures have been fully implemented in accordance with relevant health laws, and no high-threat pathogens have been detected in tests of this laboratory staff member and her contacts. No biosafety accident occurred in the laboratory where this staff member worked, and no new severe pneumonia cases related to this case have been found.

The communique emphasized that based on the information already provided by the Russian side, WHO has not found evidence of sustained transmission related to this incident. However, there is still a key uncertainty that the pathogen that caused the death of this laboratory staff member has not yet been identified, so WHO cannot assess whether the duration of contact monitoring is sufficient to rule out all possible fatal causes. WHO will continue to monitor this situation and assess any potential public health impacts when more information is obtained.

The Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing of the Russian Federation has successively issued multiple notices, pointing out that the ill staff member had received vaccination against dangerous infectious diseases related to her work and had corresponding immunity. The agency denied the existence of a second case, stating that all personnel who had contact with the deceased patient have completed medical observation, and no health problems related to infectious diseases have been found. (CCTV News, CLS)

AI Frontier

SpaceXAI Official Account Renamed

Elon Musk posted a screenshot on the social platform on October 10 local time, showing that the official account of SpaceXAI has been renamed "SpaceX Super Intelligence" (@SpaceXSI). Earlier on October 4, Musk stated that SpaceX is a super intelligence (SI) company, and we will rename SpaceXAI to SpaceXSI. (CLS)

Microsoft CEO Says AI Is a Potential Internal Threat

Satya Nadella, CEO of Microsoft, stated that enterprises should regard powerful AI models as potential internal threats, assume that they may have been compromised, and build a set of "emergency brake" systems to prevent agent models from getting out of control. Nadella posted on the X platform on October 10 that enterprises deploying advanced AI should not only rely on the security guarantees from AI model developers. "We must assume that the model has been compromised and impose restrictions on it from the very start. You can think of it as an emergency brake. Authorized personnel should always be able to pause or shut down the model in the process of it performing tasks," Nadella said. Right after Nadella made the above remarks, Anthropic and OpenAI disclosed a series of incidents of unexpected behavior of AI models in recent months, including one model of Anthropic submitting false clues in a murder case under police investigation, and multiple cases of AI models invading third-party websites. These disclosures have intensified external concerns over the safety risks of cutting-edge AI, and made the so-called AI "emergency shut-off switch" the focus of discussion once again. (Sina Finance)

Ant Group's "Lingguang" launches small-scale internal test, the new version is benchmarked against "Meta Muse"

It is reported that "Lingguang", an AI product under Ant Group, has recently launched a small-scale internal test of its new version, which is positioned to benchmark "Meta Muse". Public information shows that Meta launched the personal intelligent agent Muse in September this year. This intelligent agent can intervene in users' daily lives and continuously follow up on matters assigned by users. People close to the project disclosed that the relevant direction of Lingguang has been under preparation for about half a year, with multiple versions iterated during this period, and it is planned to be fully open this month. The person also revealed that the core of this upgrade is that Lingguang has transformed from an AI assistant that can chat and generate applications to an AI-native personal intelligent agent with long-term memory that can proactively push forward tasks. The new version of Lingguang can also call Skills and MCP to realize functions such as sending messages on DingTalk and controlling smart home devices. It is reported that the internal test cases of Lingguang 2.0 are concentrated in scenarios that are long-range, have many variables, and are difficult for ordinary people to keep track of, such as helping office workers track market changes, helping parents manage DingTalk check-ins, and rearranging routes when encountering flight delays or scenic spot flow restrictions during travel. (Sina Tech)

Big Companies / Major Events

"The First Stock of Aerospace Cables" Opens Subscription on October 12

According to the current issuance arrangement, one new share listed on the Beijing Stock Exchange, Wenfeng Optoelectronics, is available for public subscription on October 12, with an offering price of 11.45 yuan per share and an offering P/E ratio of 14.01. According to the prospectus, Wenfeng Optoelectronics is mainly engaged in the R&D, production and sales of high-performance, high-reliability special cables and optoelectronic components. Its products are widely applied in aviation, aerospace and other sectors, and it has scientific research and production capabilities covering customized production of special cables, flexible manufacturing, precision testing and timely supply support.

The company has long provided supporting services for aerospace, weaponry and shipbuilding, military electronics and other fields. It is a national high-tech enterprise, a national-level key "Little Giant" enterprise that is specialized, refined, differential and innovative, a technological innovation demonstration enterprise of Anhui Province, and a cultivation enterprise for single-item champion in the manufacturing industry. After years of R&D and accumulation, the company has developed product lines covering nearly 50 series, more than 400 categories and thousands of specifications. (Cailian Press)

Moonshot AI increases its registered capital to approximately 14.37 million

36Kr has learned from Tianyancha App that Beijing Moonshot AI Technology Co., Ltd. recently completed industrial and commercial changes, with its registered capital rising from around RMB 11.5753 million to about RMB 14.3723 million, marking an increase of roughly 24%. It is worth noting that the company has carried out multiple capital increases since the start of this year, and its registered capital has grown from RMB 1 million to approximately RMB 14.3723 million. Founded in April 2023, the company's legal representative is Yang Zhilin, and its business scope covers software development, basic artificial intelligence software development, artificial intelligence application software development and other related businesses. Shareholder information shows that the company is jointly held by Yang Zhilin, Shenzhen Hexie Growth Phase III Technology Development Equity Investment Fund Partnership (Limited Partnership), Zhou Xinyu and other parties.

Four authorities join forces to say no to "quickly-produced vehicles"

Four authorities including the Ministry of Industry and Information Technology publicly released the Notice on Further Strengthening the Management of Innovative Design, R&D, Testing and Verification of Automotive Products (Draft for Comments) on the 10th. The technical guidelines for innovative design of automotive products put forward specific testing and verification requirements covering virtual operating components, door handles, new human-machine interaction systems, large-angle seats and other relevant aspects. It is widely acknowledged in the industry that the new regulation released by the four authorities is a firm rejection of "quickly-produced vehicles". In recent days, public opinion has paid extensive attention to the brake pedal bracket fracture incident of Zunjie V800, and the focus of discussions is the safety issues of automobiles, especially the "quickly-developed" new energy vehicles. Although the incident is still pending an authoritative investigation conclusion, one point is beyond doubt: the brake pedal of a vehicle must never "break" during driving. "Stability" is a more lasting form of "speed". In recent years, China's automotive industry, especially the new energy vehicle industry, has achieved leapfrog development. The hard-won industrial ecosystem, public trust and consumer reputation need to be jointly safeguarded by all parties in the industry. The pace of innovation will not slow down due to the pursuit of excellence, and safety is the solid foundation that enables Chinese automobiles to run more and more steadily. (People's Daily)

Multiple Departments: Automobile Manufacturers Must Not Make False, Exaggerated or Misleading Publicity

36Kr has learned that four departments including the Ministry of Industry and Information Technology have jointly issued the Notice on Further Strengthening the Management of Automobile Product Innovative Design, R&D, Testing and Verification (Draft for Comments), which intends to standardize marketing and publicity activities. Automobile manufacturers shall carry out marketing and publicity activities in a truthful and objective manner, accurately publicize the usage boundaries, restrictive conditions, R&D, testing and verification and other circumstances of product innovative designs. They shall not make false, exaggerated or misleading publicity, shall not use scenarios violating road traffic regulations to promote product functions, shall not induce drivers to neglect their responsibility for safe driving, so as to ensure consumers correctly understand and use the functions related to the innovative design of automotive products.

Central Huijin "Fights Counterfeiting": The Company Does Not Conduct Investment and Wealth Management Activities on Behalf of Clients

36Kr learned that on October 9, Central Huijin Investment Ltd. issued a statement clarifying that the company does not carry out any investment and wealth management services for clients. Any entity or individual that commits fraud under the guise of the company or its staff will be held legally liable in accordance with the law. Central Huijin has updated the list of counterfeit entities, and noted in the statement that the relevant companies and their invested enterprises have no affiliation or equity ties with it, nor do they have any investment, cooperation or business relationship of any kind, and all their operations are completely unrelated to the company.

The number of "A+H" listed companies continues to grow

Recently, Likin Resources, a Hong Kong-listed enterprise, was officially listed on the main board of the Shenzhen Stock Exchange, becoming the first "H-share back to A-share" listed company on the main board of the Shenzhen Stock Exchange since the full implementation of the registration-based IPO system. In addition to Likin Resources, many Hong Kong-listed companies including Transcenta Biotech have recently updated their progress of A-share listing. Furthermore, Wind data shows that 38 A-share listed companies have successfully completed H-share listings since the beginning of this year, and the number of "A+H" listed companies keeps increasing. (China Securities Journal)

Over 120 share repurchase announcements have been disclosed on the Shanghai Main Board in October, with the total implemented repurchase amount exceeding 17 billion yuan

Since October (the disclosure date is October 1 and later), companies listed on the Shanghai Main Board have released more than 120 repurchase-related announcements, including repurchase plans, repurchase progress updates and completion notices. The total corresponding repurchase amount specified in the above announcements ranges from about 24.7 billion yuan to 46.4 billion yuan, and the accumulated actual implemented repurchase amount has exceeded 17.6 billion yuan. Among them, the latest repurchase amount corresponding to the progress announcements is 16.6 billion yuan, which has locked in 70% of the lower limit of the total planned repurchase amount. (Yicai)

FII Responds to the U.S. 337 Investigation

Foxconn Industrial Internet announced in its release on October 11 that the company learned that the United States International Trade Commission announced on October 9 local time that it has officially launched a 337 investigation targeting the relevant patent infringement claims filed by U.S. Vicor Corporation. Vicor accuses the company and its holding subsidiaries of infringing one of its patents for "vertical power supply systems". After internal verification, the products involved in this investigation are at the internal verification and evaluation stage, which will not cause any substantial impact on the company's current production, operation and performance. This 337 investigation is still in the case-filing stage and has not entered the adjudication phase. There is uncertainty about the final ruling of the case, and investors are reminded to be aware of investment risks. (Jiemian News)

Global Leading MLCC Player's Subsidiary Plans Capacity Expansion

According to media reports cited by *Sci-Tech Innovation Board Daily*, Okayama Murata Manufacturing, a subsidiary of the world's leading MLCC manufacturer Murata Manufacturing Co., Ltd., plans to invest approximately 9 billion Japanese yen to build new production lines, so as to expand the production of ceramic raw materials for electronic components such as MLCC. The new production line is scheduled to start construction in October 2026 and be put into operation in April 2028, and the scale of new production capacity from this round of expansion has not been disclosed for the time being. The ultra-fine, high-purity ceramic raw materials produced by Okayama Murata are used for Murata's MLCC products that top the global market share ranking. (China Finance Press)

Jianghuai Automobile's registered capital increased to about 2.254 billion

36Kr learned from Tianyancha App that recently, Anhui Jianghuai Automobile Group Co., Ltd. has undergone industrial and commercial changes, with its registered capital rising from about 2.184 billion RMB to about 2.254 billion RMB. Founded in September 1999, the company's legal representative is Xiang Xingchu, and its business scope covers road motor vehicle production, import and export of goods, import and export of technologies, etc. It is jointly held by Anhui Jianghuai Automobile Group Holding Co., Ltd., Hong Kong Securities Clearing Company Limited, Anhui Provincial State-owned Capital Operation Holding Group Co., Ltd. and other shareholders.

New policies on housing provident fund withdrawal have been rolled out in multiple regions, further expanding the scope of eligible withdrawals

Recently, a number of regions have officially implemented new people-friendly housing provident fund policies, further relaxing the withdrawal scope. Cities including Nanjing and Suzhou in Jiangsu have started processing withdrawal applications for home renovation and property management fees. Shenyang in Liaoning has also released nine optimized policies, including heating expenses in the withdrawal scope. (CCTV News)

Pushed up by price hikes caused by the shortage of memory and storage chips, game hardware sales have dropped to a 13-year low

The global shortage of memory and storage chips is dealing a heavy blow to the gaming industry. Microsoft, Nintendo and Sony have all raised the prices of their game consoles to offset the rising component costs and the impact brought by previous tariffs. The price increase has directly led to a sharp decline in sales. Data from market research institution Circana shows that the sales of game hardware in August fell by 15% year-on-year, hitting the lowest sales scale in August in 13 years. (Sina Finance)

Tencent Acquires Equity in Moqi Intelligence

36Kr has learned from the Tianyancha App that Shanghai Moqi Wanjia Intelligent Technology Co., Ltd. recently completed industrial and commercial registration changes, adding Shanghai Qishan Investment Co., Ltd. under Tencent as a new shareholder. In the meantime, its registered capital has increased from approximately RMB 1.542 million to approximately RMB 1.622 million. Founded in August 2025, the company has Gao Wenli as its legal representative, with business scope covering technology services, technology development, technical consultation, technical exchange, technology transfer, and technology promotion. It is now jointly held by Gao Wenli, Shenzhen Murphy Investment Partnership (Limited Partnership), and the aforementioned newly added shareholders.

Are Moutai Distributor Associations Being Disbanded "En Masse"? Moutai Issues Response

Recently, rumors that Moutai distributor associations across the country are being disbanded "en masse" have been widely spread in the liquor industry. After a period of public fermentation, relevant parties finally made a public response. Multiple media outlets reported on October 10 that according to marketing staff from Kweichow Moutai Liquor Sales Co., Ltd., in compliance with relevant requirements for the standardized construction and operation of social organizations, the daily work of distributor associations and inheritor work departments in all provincial regions has been suspended at present. However, relevant insiders stated that the suspension of daily operation of the above-mentioned institutions will not affect regional market business, and regular market work such as Moutai liquor sales and brand implementation in all provincial regions will still proceed normally and in an orderly manner. This adjustment is a systematic sorting and optimization of relevant supporting operating mechanisms carried out by Moutai in response to the country's relevant requirements on the standardized management of social organizations. In addition, targeting the market-circulated statement that "Moutai has stopped providing financial support for distributors' tasting events", relevant personnel from Kweichow Moutai Liquor Sales Co., Ltd. said that Moutai has not stopped supporting channel market activities. It is worth noting that as of the press time, the official platform of Kweichow Moutai has not yet officially released a relevant public statement. (Securities Times)

New York Fed: Trump's tariffs pushed up prices of 67 categories of goods

Research from the Federal Reserve Bank of New York shows that if President Trump had not imposed tariffs on imported goods, the prices of many daily necessities would have decreased, but they have risen instead due to the tariffs. The report shows that as of February this year, Trump's tariffs have raised the price level of 67 categories of goods by 2.9 percentage points. Without the tariffs, prices of these goods would have fallen by nearly 1%. The report points out that for every 1 percentage point increase in the average tariff rate, consumer prices will rise by about 0.25 percentage points one year later, and the upward price pressure brought by the tariffs will last until 2027. Around two-thirds of the price increase of these goods comes from the direct impact of import tariffs, and the rest is the indirect effect of tariffs on U.S. companies that use imported parts and materials in their products. (CLS)

Meng Fanli, Governor of Guangdong Province, Meets with Tim Cook and his Delegation from Apple Inc. of the United States

Meng Fanli, Governor of Guangdong Province, met with Tim Cook, Executive Chairman of Apple Inc. of the United States, and his delegation in Guangzhou on October 11. Tim Cook thanked Guangdong Province for its long-term support for Apple's development. He stated that Guangdong is a globally important manufacturing center with a complete industrial chain and supply chain, strong innovation and creativity vitality, an extremely high-potential consumer market and huge cooperation space, and has gathered a large number of Apple's supply chain partners and ecosystem developers. Guangdong is of vital importance to Apple's development in China, and the company is willing to further expand its business layout in Guangdong, explore more cooperation with relevant cities and enterprises in Guangdong in fields including supply chain collaboration, innovation ecosystem empowerment, smart manufacturing and green manufacturing, and sales channel expansion, so as to better achieve mutually beneficial win-win outcomes.

Meng Fanli extended a warm welcome to Tim Cook and his delegation. He noted that Apple is a world-renowned leading technology enterprise that has maintained long-term, extensive and in-depth cooperation with Guangdong in production, sales and R&D links. At present, Guangdong is targeting the development direction of intelligence, greenness and integration, and accelerating the construction of a modern industrial system with advanced manufacturing as the backbone. We warmly welcome and support Apple to closely connect with all parties in Guangdong, locate more innovative products, emerging businesses and R&D platforms in Guangdong, and continuously expand new fields and spaces for cooperation. Guangdong will continue to expand high-level opening-up, build a first-class market-oriented, law-based and international business environment, and provide high-quality services for the development of all types of enterprises in Guangdong including Apple. (CLS)

2026 Canton Fair Design Innovation Award Announced, Zhangxue Motorcycle Takes Home the Supreme Gold Award

According to the China Foreign Trade Centre, the list of winners of the 2026 Canton Fair Design Innovation Award (abbreviated as "CF Award") has been released. A total of 222 products from 174 enterprises have won awards. Among them, Zhangxue Motorcycle 820RR won the Supreme Gold Award of Canton Fair CF Award, and the other product that claimed the Supreme Gold Award is the Intelligent Patrol Capsule Robot Gastroscopy System. It is known that the award-winning products will be displayed in a centralized manner during the 140th Canton Fair. The award-winning products this time present the following three major characteristics: First, they gather towards "newness" with prominent features of new quality productive forces. The award-winning products are mainly from technology-innovative enterprises. Cutting-edge high-quality products ranging from the Supreme Gold Award winners Zhangxue Motorcycle 820RR and Intelligent Patrol Capsule Robot Gastroscopy System to brain-computer interface rehabilitation systems and exoskeleton robots have emerged intensively, demonstrating the innovation-led trend of high-end manufacturing. Second, they are upgraded towards "intelligence", with strong development momentum of AI intelligent products. Intelligent products account for 32% of all award-winning products. Products such as AI glasses, intelligent conference terminals and intelligent health care equipment cover scenarios including home, office, medical treatment and outdoor activities. Third, they penetrate towards "greenness", with green and low-carbon concepts running through the entire industrial chain. The green concept runs through the whole process of product R&D, design and production.

Green products account for 44% of all award-winning products. New energy applications such as photovoltaic curtain walls and integrated power generation and energy-saving panels, as well as material technologies including sugarcane paper and bio-based fabrics, prove that the development towards green has been further deepened. At the same time, the Product Design and Trade Promotion Centre (PDC) of the 140th Canton Fair will also gather high-quality design institutions at home and abroad. A total of 101 design institutions from 6 countries including the United Kingdom, Italy, the Netherlands, Greece, Turkey and South Korea, as well as China's Taiwan region and the Chinese mainland will participate in the exhibition. For the first time, R&D and design institutions covering new acoustic materials, new battery energy technologies and technology intermediary services are introduced, to empower the quality improvement and upgrading of Made in China through design innovation. (CCTV News)

Harbin Pharmaceutical Co., Ltd.: The company's Director and President has been placed under investigation and subject to retention

36Kr learned from the announcement of Harbin Pharmaceutical Co., Ltd. that the company recently received the Filing Notice and Retention Notice issued by the relevant supervisory committee targeting Lu Chuanyou, the company's Director and President. At present, the company has made proper arrangements for relevant work. The chairman of the board, other directors and other senior management personnel are performing their duties normally, and the board of directors is operating in a normal manner.

The Eurasian Economic Union Continues to Impose Anti-Dumping Duties on Oil Country Tubular Goods from China

36Kr learned from China Trade Remedies Information Network that on October 9, the Department for Internal Market Protection of the Eurasian Economic Commission issued Announcement No. 2026/520/AD16R2. In accordance with Resolution No. 127 of the Commission dated October 6, 2026, it was decided to keep the anti-dumping duties set out in Commission Resolution No. 101 of 2015 unchanged, and continue to impose anti-dumping duties at the rate of 12.23%~31.00% on oil country tubular goods (Russian: нефтегазопромысловыетрубы) originating in China. Meanwhile, Hunting Energy Services (Wuxi) Co. Ltd. is removed from the list of enterprises that have made price undertakings. The measures shall take effect 30 days after the release of the announcement, and remain valid until October 5, 2031 (inclusive).

Apple increases iPhone Duo orders by 30%, total orders for iPhone 18 Pro series remain unchanged

According to sources from Apple's supply chain, Apple has made structural adjustments to the order volumes of its new smartphone products for the fall of 2026: it has raised orders for the iPhone Duo by 30%, though the total volume still does not exceed 10 million units, cut orders for the iPhone 18 Pro by 10% to 15%, and raised orders for the iPhone 18 Pro Max by 10% to 15%, keeping the total order volume of the iPhone 18 Pro series unchanged. "This means sales are tilting toward higher-value products, which is overall positive for the performance of Apple's supply chain enterprises," a person from Apple's supply chain noted. (Securities Times)

Apple is developing cameras that do not "record videos"

According to recent media reports, technology journalist Mark Gurman revealed that Apple is developing a home security camera codenamed J450. Unlike similar products on the market, it will not record any video. This camera will use AI to analyze the environment in and around the home, and push motion updates to users in the form of text descriptions. (Sci-Tech Innovation Board Daily)

Apple Acquires Huxe via Reverse Acqui-Hire

Apple disclosed on the case database website of the EU's Digital Markets Act that it has reached an agreement to absorb the team members and related technologies of personalized audio startup Huxe. This transaction belongs to the reverse acqui-hire commonly referred to in the industry. It is reported that Apple filed a report with the European Commission, stating that it has agreed to extend job offers to "some employees of Huxe AI" and "obtain a non-exclusive license for Huxe's intellectual property". The founding team of Huxe previously worked on Google's NotebookLM project, which was recently renamed Gemini Notebook. Huxe announced the shutdown of its business on May 21; the team posted on its official website huxe.com that it will remove the application from Apple and Google app stores, stop services and delete all user data. (Sina Tech)

Foxconn Industrial Internet: The U.S. International Trade Commission has launched a 337 investigation against the company and its holding subsidiaries, involving a patent right for "vertical power supply system"

36Kr learned from the announcement of Foxconn Industrial Internet that the company was notified that the U.S. International Trade Commission announced on local time October 9 that it has officially launched a 337 investigation targeting the relevant patent infringement claim filed by U.S. Vicor Corporation. Vicor accuses the company and its holding subsidiaries of infringing one of its patent rights for "vertical power supply system". Through internal verification, the products involved in this investigation are currently in the internal verification and evaluation stage, and will not cause any substantial impact on the company's current production, operation and performance.

NVIDIA Is Reportedly in Talks to Acquire Reflection AI or Increase Its Investment

According to reports, NVIDIA is conducting preliminary negotiations with Reflection AI, a U.S.-based open-weight model developer, on the acquisition of this startup or further increasing its investment. The report notes that a wide range of investment approaches are still under consideration. Potential deal structures include "acqui-hiring", under which NVIDIA will hire Reflection AI's employees and obtain licenses for its technologies, reaching an agreement with the company to supply it with more chips, or raising NVIDIA's equity stake in Reflection AI. (CLS)

Elon Musk: Terrafab Factory will Reshape Chip Manufacturing

Elon Musk stated that given the expertise of his affiliated companies in manufacturing custom equipment, he believes they will very likely "find a way to produce chips better than anyone else." Speaking to a group of customers and investors outside Tesla's Gigafactory in Austin, Texas, Musk noted that even though he currently "does not know how to manufacture microchips, we will figure it out." He pointed out during his live attendance at the X Takeover event on October 10 that he did not see much custom equipment when visiting competitors' facilities, and he said his companies have rich experience in manufacturing such equipment, which allows them to optimize the manufacturing process. "I think it is fair to say that this is one of the most difficult things to do in the world," Musk said. "I do not want to appear complacent or take it for granted, but I think we will most likely find a way to make chips better than anyone else. To be honest, I do not know how long this will take. It may take several years." (Gelonghui)

JPMorgan Chase Plans to Double Its Assets Under Management in Europe to $2 Trillion in the Next Five Years

JPMorgan Asset Management has announced an ambitious development target, planning to double the scale of its assets under management in the European region to $2 trillion within the next five years. The institution is betting that wealthy groups in Europe can drive the business growth of the asset management division under this Wall Street bank. Patrick Thomson, Chief Executive Officer of JPMorgan Asset Management for Europe, the Middle East and Africa, said in an interview: "Europe is a high-quality market for us to continuously expand our business. Our three strategic priorities, namely active exchange-traded funds (active ETFs), alternative assets, and building partnerships with leading wealth management institutions, will become the core driving force driving growth." Benefiting from the rising market and the continuous inflow of funds from new and existing clients, the assets under management of JPMorgan Asset Management's European business have doubled in the past 9 years, increasing from $500 billion to $1 trillion. (Sina Finance)

The top 15 Hong Kong stocks by net purchase amount of South Korean investors in the first three quarters recorded a total net purchase of about 228 million US dollars

According to data from the Securities Depository & Settlement Agency of Korea Information Portal (SEIBro), in the first three quarters of 2026 (with settlement dates from January 1 to September 30), the total net purchase of the top 15 Hong Kong stocks by South Korean investors reached about 228 million US dollars, while the total net purchase of the top 15 A-shares in the same period was about 79.87 million US dollars. Among them, the Global X China Semiconductor ETF ranked first in terms of net purchase amount, with a net purchase of 52.57 million US dollars in the first three quarters. On the A-share side, in the first three quarters, Changxin Technology, the leading player in the memory chip sector, was deeply favored by South Korean investors, whose net purchase amount accounted for more than half of the total of the top 15 A-shares. A-share growth sectors including semiconductors, 5G communications and power batteries also gained favor. Entering October, after the H shares of InnoLight were ranked second in the net purchase list of Hong Kong stocks in the first three quarters, its A shares have topped the A-share net purchase list since October. (China Fund News)

Ongoing Listings

Xiamen Rail Transit Group's 10 billion yuan small public offering bond application accepted by Shanghai Stock Exchange

According to the corporate bond project information platform of the Shanghai Stock Exchange, the status of the RMB 10 billion small public offering bond project of Xiamen Rail Transit Construction & Development Group Co., Ltd. has been updated to "Accepted", with the acceptance date being October 9, 2026. The draft offering prospectus shows that after deducting the issuance costs, the funds raised from this bond will be allocated as follows: no more than RMB 5.7 billion to repay the principal of matured/puttable corporate bonds, no more than RMB 1 billion for fixed asset investment projects, no more than RMB 2.1 billion to repay interest-bearing debts, and no more than RMB 1.2 billion to supplement working capital. (Jiemian News)

Investment and Financing

LiTai Intelligent Pharma Completes Seed Round Financing of Nearly 50 Million Yuan

36Kr learned that on October 10, LiTai Intelligent Pharma announced that it has completed a seed round financing of nearly 50 million yuan. This round of financing is jointly invested by iFLYTEK Venture Capital, L2F Lighthouse Founders' Fund and well-known industrial parties, with Lighthouse Capital acting as the exclusive financial advisor. The funds raised in this round will be mainly used for core pipeline R&D, computing power investment, patent layout, talent recruitment and daily operation.

Ruizhi Technology Completes Its First Round of Financing of Tens of Millions of Yuan

36Kr learned from the news of Zhongguancun Capital that Ruizhi Technology has completed its first round of financing of tens of millions of yuan. This round of financing is led by Zhongguancun Capital, and followed by Zhongguancun Science City Corporation. The funds from this round of financing will be mainly used for core team building, continuous iteration of the working platform for intelligent scientific research agents and industrial-grade cross-scale intelligent computing engine, construction of the automatic experimental verification system, as well as further expansion and implementation of industrial application scenarios.

Pongbot Completes Hundreds of Millions of Yuan in Series B Financing

36Kr has learned that Pongbot, an AI sports hardware company, recently completed Series B financing worth hundreds of millions of yuan. This round is led by Shanghai SDIC Pilot Fund, with follow-on investment from Yuanhe Puhua, Pudong Venture Capital and other institutions. Existing shareholder BlueRun Ventures continued to increase its stake, and GaoHu Capital served as the exclusive financial advisor.

Taiyi Liangsheng completes financing of over 1 billion RMB

36Kr learned that on October 10, Taiyi Liangsheng (Shanghai) Quantum Technology Co., Ltd. announced the completion of a new round of financing. Founded for more than 8 months, the company's total accumulated financing has exceeded 1 billion RMB. In this round of financing, new investors including Jinqiu Fund, Yunbai Capital, Hongruida Investment, Chengdu High-Tech Vision Fund, Lingang Frontier Investment have participated, while existing shareholders including Huakong Fund, Hengxu Capital, Boyuan Capital, Gaomai Investment, Yarui Capital continue to increase their shareholding.

Compiled by | Baby Chinese Cabbage