8:1 Krypton丨Jensen Huang has returned to work at NVIDIA and apologized to employees for the recent turmoil; Jia Guolong has pledged all his shares of Xibei; Anthropic's IPO has been oversubscribed by multiple times.
Today's Hotspot Guide
Alibaba T-Head has completed a 399-fold capital increase this year
Will Liu Qiangdong also step into the short drama sector? JD is conducting internal testing of an independent short drama product
Domestic gold jewelry quotations are lowered collectively
Apple announces that its official community will be permanently shut down on November 20
SpaceX is reportedly attempting to "de-Nvidia" at the rack layer: only purchase chips, and develop the Kessel cabinet to bypass the L6 computing board
TOP3 Major News
US Media: Jensen Huang Has Returned to Work at NVIDIA
According to CNBC, people familiar with the matter disclosed that NVIDIA CEO Jensen Huang walked into the company's headquarters in Santa Clara, California on Monday, and chaired the regular morning meeting with senior management as usual. The insiders noted that at the beginning of this closed-door meeting, Jensen Huang first apologized to employees for the recent turmoil. He did not take any questions, but quickly shifted the topic to business and the main agenda of the day. On Tuesday, Jensen Huang also came to the office for meetings. NVIDIA will release its new quarterly financial report in just one week.
According to another report from The Wall Street Journal, people familiar with the matter revealed that the board of directors of NVIDIA (NVDA.O) is preparing to remove the company's founder and chief executive officer Jensen Huang. It is reported that NVIDIA's board of directors may hold a meeting as early as today (local time, the 11th) to decide on Jensen Huang's retention or dismissal. (Ifeng Finance, Jin10 Data)
Jia Guolong Pledged All Shares of Xibei, with the Amount Exceeding 26.6 Million Yuan
On November 10, according to Cailian Press, Jia Guolong, founder of Xibei Catering Group, has pledged all the equities he directly holds in Inner Mongolia Xibei Catering Group Co., Ltd. The amount of pledged equity is 26.604027 million yuan, and the pledgee is Beijing Branch of Shanghai Pudong Development Bank Co., Ltd. This equity pledge is currently in valid status.
It should be noted that on September 2 this year, Zhang Liping, wife of Jia Guolong, has previously completed the equity pledge registration, pledging all the equities she directly holds in Xibei Group to Hohhot Ruyi Development Zone Sub-branch of Industrial and Commercial Bank of China Co., Ltd. The amount of pledged equity is 5.400005 million yuan, which is also valid at present. The sum of subscribed capital corresponding to the equities pledged by the couple reaches 32.004032 million yuan in total, accounting for about 30.79% of the registered capital of Xibei Group. (Cailian Press, Jiemian News)
Anthropic IPO subscription demand is oversubscribed multiple times, with plans to raise up to 90.4 billion US dollars through IPO and private placement
On November 11, according to reports, the subscription demand for Anthropic's Initial Public Offering (IPO) has reached several times the number of shares available for issuance, mainly driven by the subscription intentions of large cornerstone investors. The company and its co-founders plan to raise a maximum total of 90.4 billion US dollars through the IPO and private placement. If completed, it will surpass SpaceX's IPO and become the largest listing transaction in history. Anthropic targets a fully diluted valuation of approximately 1.4 trillion US dollars, which is lower than the previous expectations of some investors. (Jiemian News)
Cutting-edge AI
Anthropic's landmark IPO is feared to become the peak of the AI market rally, and a senior technology industry figure says that chained corrections may occur after the lock-up period expires
Jack Selby, head of venture capital firm Copper Sky, said that Anthropic's much-watched initial public offering may face the risk of becoming the peak of the AI market rally, and may trigger chained corrections after the lock-up period for the first batch of shares expires. (Financial Associated Press)
Google Launches Gemini Decisions API at a Price of $0.10 Per Million Input Tokens
Google has launched the Gemini Decisions API, a new endpoint powered by its Gemini Decision 1 model that helps AI agents make fast preset decisions without generating lengthy text responses. This interface allows developers to evaluate up to 1,000 independent questions against shared multimodal inputs covering text, images, audio, video and PDFs. Instead of generating responses token by token, Gemini Decision 1 scores preset options in a single forward pass, returns probability and confidence scores, and delivers an end-to-end latency of 150–250 milliseconds. Google notes that developers can submit yes-or-no checks, multiple-choice questions with up to 255 options, or scoring requests based on preset grading standards in one single API call. (Sina Finance)
Tencent's brand new search product, Yuanbao Search, is officially launched
36Kr has learned that Yuanbao Search, the brand new search product of Tencent, has been officially launched.
Agibot Releases Lifelong Embodied Intelligence Framework LIFE
36Kr has learned that Agibot recently released the lifelong embodied intelligence framework LIFE (Learning to Live: A Step Toward Lifelong Embodied Intelligence). The framework integrates continuous perception, long-term memory and capability reuse, to support robots to acquire environmental information during task execution and between task intervals, and apply historical observations to subsequent decision-making. Relevant papers, project homepage, the inference code and weights of RoboBeats series models (0.8B/2B/4B), as well as SSS-Bench evaluation resources are now open to the public.
Lingguang 2.0 has exceeded 3 million cumulative hosted transactions two weeks after its launch
36Kr learned that on November 11, Lingguang, the personal AI assistant under Ant Group, released the latest data: since the launch of Lingguang 2.0 on October 27, the cumulative number of hosted transactions has exceeded 3 million, with the total number of executed tasks surpassing 11 million. This is another disclosure of transaction hosting data since the launch of Lingguang 2.0. On November 5, Lingguang previously announced that it had hosted more than 1.16 million transactions within the first week of launch, with over 3.6 million total executed tasks and a user base exceeding 20 million.
Big Companies / Major Events
Wang Yi Held a Phone Call with US Secretary of State Rubio 888886777777777
Wang Yi, Member of the Political Bureau of the Communist Party of China Central Committee and Minister of Foreign Affairs, held a phone call with US Secretary of State Rubio on the 11th. The two sides had in-depth exchanges of views on China-US relations and interactions between the two heads of state, and the call was positive and constructive. Wang Yi stated that President Xi Jinping's visit to the United States in September was smooth and successful, and the two heads of state agreed to enrich the connotation of the new positioning of China-US relations, which provided clearer strategic guidance for exploring the right way for China and the United States to get along with each other. The stable momentum of China-US relations did not come easily, and it is a rational choice made by the two major countries based on their respective and common interests. China maintains the stability and continuity of its policy towards the United States, and is willing to strengthen communication and cooperation with the US side, properly handle differences and sensitive issues, mutually support each other in successfully hosting the 2026 APEC Economic Leaders' Meeting and the G20 Leaders' Summit, and promote the constructive, strategic and stable China-US relations to deliver tangible results. (CCTV News)
Alibaba T-Head Has Increased Its Capital by 399 Times This Year
36Kr has learned from Alibaba's public announcement that the company plans to spin off its wholly-owned subsidiary T-Head (Shanghai) Technology Co., Ltd. for independent listing on the Main Board of The Stock Exchange of Hong Kong Limited. In September this year, T-Head submitted its listing application to the Hong Kong Stock Exchange in confidential form. The Tianyancha App shows that T-Head (Shanghai) Technology Co., Ltd. was founded in December 2023, with business scope covering technical services, technology development, technical consultation, technical exchange, technology transfer and technology promotion, etc., and is jointly held by T-head Limited, T-head Di (Shanghai) Technology Co., Ltd., and Shanghai Wuxinyue Technology Partnership (Limited Partnership). The change records show that in June this year, Fu Huili stepped down as the legal representative of the company, and was succeeded by Yao Gang. In addition, the company has completed two capital increase operations this year, with its registered capital rising from 5 million RMB to 2 billion RMB.
Will the price of each unit of the DJI Pocket 4 series increase by 500 yuan? Multiple stores respond: No price increase notice has been received
Recently, news spread on social media that the full product line of DJI Pocket 4, Pocket 4P and Nano will see a comprehensive price increase starting from November 18, with a maximum increase of 13% and a maximum rise of 500 yuan per unit. Market sources indicate that this price adjustment may be related to the rising cost of upstream storage chips. Sina Tech, acting as a consumer, consulted the official self-operated flagship store of DJI Innovation on JD, and the customer service representative stated that they have not received any notice of price increase for the time being. Subsequently, staff from multiple official offline stores all said that they have not received the formal official notice. A store clerk said, "It is very unlikely for this product series to raise prices, and the price has remained relatively stable since it was launched." DJI has not yet responded to whether there are plans to increase the price of the Pocket series products. (Sina Tech)
Steady and orderly progress is being advanced in the taxation of offshore trust income
It was learned from the State Taxation Administration on November 11 that the transition period for the offshore trust income taxation policy has now come to a smooth end. The vast majority of taxpayers have actively cooperated, with the total declared individual income tax on offshore trusts exceeding 160 billion yuan. Of this amount, more than 120 billion yuan was collected in October alone, driving the national individual income tax revenue in October to increase by nearly 90%. (Xinhua News Agency)
AgiBot and Other Entities Take Stakes in QuanZhibo Technology
36Kr learned from the Tianyancha App that Wuxi QuanZhibo Technology Co., Ltd. recently completed industrial and commercial registration changes, adding AgiBot Innovation (Shanghai) Technology Co., Ltd. (the affiliated entity of AgiBot), Guangdong Dongfang Precision Science & Technology Co., Ltd. and other parties as new shareholders. Meanwhile, its registered capital increased from approximately 11.0792 million RMB to around 12.5035 million RMB. Founded in June 2023, the company has Chen Wankai as its legal representative, and its business scope covers R&D of intelligent robots, sales of service consumer robots, artificial intelligence theory and algorithm software development, among others. According to the shareholder information, the company is now jointly held by Chen Wankai, Wuxi Ruiwo Enterprise Management Consulting Partnership (Limited Partnership) and the aforementioned new shareholders.
Dong Yuhui Responds to the "9-month Shelf Life of Mille Crepe Cake"
Recently, the mille crepe cake, the first product under Dong Yuhui's self-owned brand "Heyu Chunshi", has achieved booming sales. As the shelf life of this mille crepe cake is as long as 9 months, it has aroused widespread public concern. On November 10, Dong Yuhui responded to this issue during his livestream, stating that this product is supposed to be stored at minus 18 degrees Celsius, and it is common sense that the shelf life will be extended in a frozen environment. He thanked all people for their attention and concern. (Jiemian News)
Will Liu Qiangdong also step into the short drama sector? JD is internally testing an independent short drama product
On November 10, JD launched the internal beta test of its independent short drama product "JD Drama Welfare Club", which adopts a free model. Its core gameplay is "earn benefits by watching dramas, directly purchase the same items featured in the dramas, with delivery fulfilled by JD". The underlying goal of JD to develop short dramas is not to sell drama content or seize users' entertainment time, but to regard short dramas as a shopping guidance tool, drive product conversion with the strong emotional resonance brought by the plot, and convert drama-watching audiences into shopping users of the platform. However, relevant functions are still in the testing and optimization stage at present, and no corresponding e-commerce jump entry has been found in actual use. (The Paper)
Dongpeng Beverage Has Started Selling Alcoholic Products
Previously, Dongpeng Beverage stated on the investor interactive platform that its newly launched alcoholic product "Haoli Hai" is mainly targeted at the catering channel. It will expand business relying on the existing catering terminal network, share channel resources with its beverage products, and improve the benefit per single store. At present, the company adopts a strategy of small-step testing and prudent investment for alcoholic products, and its resource focus still remains on the core beverage business.
On November 11, a relevant representative from Dongpeng Beverage told Jiemian News, "This product has been launched on the market. The 150ml version is priced at 16 yuan for retail, and there is a promotion activity of '4-yuan Enjoyment'. According to the product information circulated on social platforms, "Haoli Hai" is a 33-degree blended liquor, with "17 selected raw materials" marked on the package, and its ingredients include Baijiu, vodka and a variety of plant raw materials. The product is authorized by Dongpeng Beverage (Group) Co., Ltd. and produced by Hainan Yedao Wine Industry Development Co., Ltd. Hainan Yedao owns a number of alcoholic products including Yedao Lugu Liquor. (Jiemian News)
High-end Graphics Card Prices Plummet
On November 10, a reporter from 21st Century Business Herald paid a field visit to Huaqiangbei, Shenzhen. Xiong Rongrong, head of Jinshuoli Computer, a wholesaler and retailer of computer parts in Huaqiangbei, sighed to the reporter: "The RTX 5080 was still priced at 18,000 yuan last month, but in the past two days, its price has dropped to just over 14,000 yuan." In late October, stimulated by overseas rumors that NVIDIA would halt production, the prices of RTX 50 series graphics cards rose for 11 consecutive trading days. Among them, the price of RTX 5080 once approached 20,000 yuan, while the price of RTX 5090 even neared 50,000 yuan. The prices fluctuated repeatedly, and there was even a situation where "the price changes every half a day".
Recently, the prices of the aforementioned graphics cards have fallen back. High-end graphics cards RTX 5080 and RTX 5090 have seen a significant price drop: the RTX 5080 has dropped from the previous peak of about 18,000 yuan to around 14,000 yuan, down by about 4,000 yuan; the RTX 5090 has dropped from the peak of 50,000 yuan to around 46,000 yuan, down by about 4,000 yuan. The mid-range RTX 5060 series graphics cards have a relatively small fluctuation range, with a price drop of only around 200 yuan. (21st Century Business Herald)
Margin trading purchases of 239 stocks exceeded 100 million yuan, with Zhongji Xuchuang ranking first at 1.653 billion yuan
On November 10, a total of 3,872 A-share stocks were purchased with margin financing funds in the A-share market, and the purchase amount of 239 stocks exceeded 100 million yuan. Among them, Zhongji Xuchuang, Eoptolink, and Changxin Technology ranked the top three in terms of margin purchase amount, with purchases of 1.653 billion yuan, 1.642 billion yuan and 979 million yuan respectively. In terms of the proportion of margin purchase amount in the total transaction amount of the day, the proportion of margin purchase amount of 2 individual stocks exceeded 30%. Among them, TEDA Co., Ltd., Tianma Intelligent Control, and Yuanchuang Co., Ltd. ranked the top three in the proportion of margin purchase amount to transaction amount, reaching 39.89%, 32.11% and 29.6% respectively. (Yicai)
Goldman Sachs, Citi and 19 other financial institutions jointly develop stablecoins, planning to invest 270 million US dollars to challenge Tether and Circle
On November 11, people familiar with the matter disclosed that global financial institutions including Goldman Sachs, Citigroup, Banco Santander and Deutsche Bank have pledged to invest about 270 million US dollars in a joint stablecoin project to support the operation of the project in the first five years after its launch. Codenamed "Project Faro" internally, the project plans to set up a stablecoin issuing entity in the United States and officially launch the product in the first half of 2027. This cooperation aims to integrate the liquidity, payment infrastructure and customer resources of traditional financial institutions to compete with existing stablecoin issuers such as Tether and Circle. (Sina Finance)
Domestic gold jewelry prices are lowered collectively
On November 11, the comparison of domestic gold jewelry prices shows that the domestic fine gold jewelry prices released by many gold and jewelry brands have decreased compared with those on the 10th. Among them, Laomiao Gold's quotation is 1208 yuan/gram, down 25 yuan from that on the 10th; Chow Sang Sang's quotation is 1212 yuan/gram, down 31 yuan from that on the 10th; Chow Tai Fook's quotation is 1215 yuan/gram, down 24 yuan from that on the 10th; Lao Feng Xiang's quotation is 1211 yuan/gram, down 25 yuan from that on the 10th. (Jiemian News)
The People's Bank of China carried out 187 billion yuan of overnight reverse repo operations in the open market on the 11th
36Kr learned that the People's Bank of China launched 187 billion yuan of overnight reverse repo operations in the open market on the 11th at an interest rate of 1.25%. The Chinese central bank realized a net withdrawal of 3 billion yuan in its open market operations on the 11th.
The central parity rate of the RMB against the U.S. dollar is set at 6.7191, down 24 points
36Kr learned that on November 11, the central parity rate of the RMB against the U.S. dollar stood at 6.7191, down 24 points. The central parity rate for the previous trading day was 6.7167, the official closing price of the previous trading day was 6.6682, and the previous night trading session closed at 6.6805.
The three major U.S. stock indexes closed higher collectively, with most large-cap tech stocks rising
36Kr learned that at the close of trading on November 11, the three major U.S. stock indexes rose across the board. The Nasdaq Composite Index climbed 1.6%, the S&P 500 Index rose 1.31%, and the Dow Jones Industrial Average gained 0.49%. Most large-cap tech stocks moved higher: Western Digital jumped more than 13%, Micron Technology rose over 11%, SK Hynix was up more than 9%, Tesla, NVIDIA and Apple all gained over 2%, Google increased by more than 1%, while Microsoft dropped more than 2%, and Meta and Amazon fell over 1%. Most popular Chinese concept stocks in the U.S. declined: NetEase fell more than 4%, Xpeng Inc., Li Auto and Bilibili dropped over 2%, JD, NIO and Alibaba fell more than 1%, Pinduoduo posted a slight decline, iQiyi rose more than 9%, and Baidu saw a modest increase.
OPEC Maintains Its 2027 Global Oil Demand Growth Forecast of 2.6 Million Barrels Per Day
On November 11, OPEC kept its forecast for global oil demand growth in 2027 unchanged, expecting the full-year demand to increase by 2.6 million barrels per day year on year. It is projected that global oil demand will hit 108.3 million barrels per day in 2027. Of this total, oil demand in non-OECD countries is expected to grow by approximately 2 million barrels per day, while demand in OECD countries is forecast to rise by around 0.5 million barrels per day. OPEC also maintained its 2026 global oil demand growth forecast at 2 million barrels per day. (CLS)
Nvidia says data centers "should be community assets" and should be promoted in a manner recognized by the community
On November 11, Nvidia stated that enterprises constructing data centers need to advance their projects in a way that can win the recognition of local communities. Josh Parker, Head of Sustainability at Nvidia, said on Wednesday: "Our view on artificial intelligence, especially data centers, is that data centers can and should be an asset of the community." "There are bad ways to build data centers, but there are countless good ways as well," he noted. Parker said that Nvidia, which holds a dominant position in the supply of chips for training and operating artificial intelligence models, "has always been focused on innovation". This means prioritizing areas that can improve the "sustainability of data centers", especially energy efficiency, as well as other aspects such as water conservation. (CLS)
Ingenic Co., Ltd.: The MPW of T42 chip has been sent for tape-out, and mass production tape-out is expected to be carried out next year
36Kr learned that Ingenic Co., Ltd. stated on the interactive platform that the MPW of its T42 chip has been sent for tape-out, and the mass production tape-out is expected to be launched next year.
Apple Announces Its Official Community Will Be Permanently Shut Down on November 20
36Kr has learned that Apple announced on its official website on November 11 that the Apple Support Community will be permanently closed on November 20, 2026. Starting from now, the community will no longer accept new posts and will switch to read-only mode.
Anthropic investors pre-peddle IPO allocated shares, charging an extra fee of up to 5%
Some supporters of Anthropic PBC are offering part of the initial public offering (IPO) allocated shares they are expected to obtain to new investors on the eve of this listing deal that is set to hit a record. JonesTrading Institutional Services LLC, on behalf of a number of investors who are expected to receive large allocations in this IPO, is promoting a batch of Anthropic shares worth up to 500 million US dollars. In addition to paying for the shares at the final IPO offering price, buyers also need to pay an extra fee equivalent to 3% to 5% of the offering price. (Sina Finance)
Anthropic Files Prospectus Documents in Australia, Local Retail Investors Are Eligible for IPO Subscription
Anthropic submitted documents to Australia's securities regulator on local time November 11, noting that local individual investors can subscribe for Anthropic shares via brokers participating in this offering starting from the same day. The subscription is expected to close on November 17, and Anthropic shares are projected to be listed and traded on NASDAQ on November 20. Anthropic plans to raise no more than 90.4 billion US dollars through the IPO and private placement, with the offering price ranging from 70 to 78 US dollars per share. Apart from the United States, Australia is one of the few countries where investors can directly subscribe for Anthropic's shares, and other eligible regions include Japan, Canada and some European countries. (Jiemian News)
Lithium carbonate prices have hit the low point of the year, down nearly 60% from the peak in mid-May
On November 10, the price of the main lithium carbonate contract in China's domestic futures market closed at 87,100 yuan per ton, with a single-day drop of nearly 3%. Earlier on November 4, the price of this main contract once hit the year's low of 86,360 yuan per ton, which is nearly 60% lower than the peak of 209,840 yuan per ton in mid-May this year. As for the reasons for market price fluctuations, Li Pan, a lithium industry analyst at Shanghai Steel Union, analyzed that the previous disturbances at the Zimbabwean mine end, rush export for stockpiling and energy storage demand drove up lithium carbonate prices. Later, the upward adjustment of peers' inventory statistics removed the trading foundation of "tight low inventory" in the market. The price cut of Australian mines, the rebound in domestic production, coupled with the progress of the approval of the world's largest lepidolite mine, have consolidated the consensus that the long-term supply gap is narrowing. Against the backdrop of continuous decline in lithium carbonate prices, downstream enterprises have insufficient willingness to take the initiative to restock and only make purchases based on rigid demand. Combined with the market's advance trading of loose supply from 2027 to 2028, the price center of gravity has moved down rapidly. (Securities Times)
Online rumors claim Tesla is recalling vehicles and offering 2,800 yuan in compensation, Tesla China responds: It is a fraud
On November 11, a document dated November 10 circulated on the Internet, stating that Tesla would recall relevant vehicles due to potential manufacturing defects in rear shock absorbers and rear springs. The document claimed that the compensation for this recall would be paid at a unified standard of 2,800 yuan per vehicle, and the relevant compensation funds would be uniformly distributed by "China UnionPay Center" to the car owner's personal UnionPay account, Alipay account or bank account. The official customer service of Tesla China stated, "This short message is not officially released, it is a fraud. There is no need to go to the store. Please do not click the link inside to prevent fraud. You must never click the link. Clicking the link and entering your mobile phone number plus verification code will very likely directly cause deductions from your account." The customer service also emphasized that Tesla has not sent any recall short messages recently, reminding car owners to stay vigilant to avoid personal information leakage and property loss. (National Business Daily)
Goldman Sachs Expects the Fed to Hike Interest Rates Again in December, With the Third Rate Hike Coming in March Next Year
Goldman Sachs stated that the U.S. CPI report for October greatly exceeded expectations. "We still anticipate a second 25-basis-point interest rate hike in December, and have also included the forecast of a third 25-basis-point interest rate hike in March 2027," said David Mericle, Chief U.S. Economist at Goldman Sachs. "The third interest rate hike may arrive in early January, but we believe the possibility is greater in March, because we expect the inflation reports for November and December to be relatively moderate, but then the sustained cost pressure at the beginning of the year is expected to push up inflation in January, leading to a sharp rise in prices." Goldman Sachs still believes that with the impacts of factors such as tariffs, energy shocks and AI price pressures gradually fading, prices will show a significant downward trend by the end of next year. (Sina Finance)
SpaceX is reportedly attempting to "de-Nvidia-ize" at the rack layer: only purchasing chips, and developing the Kessel cabinet to bypass the L6 compute board
Semiconductor research institution SemiAnalysis disclosed on X that SpaceX is doing something that previously only hyperscale cloud vendors have tried: retaining Nvidia's chips, but independently redesigning all the racks around the chips. The internal code name of this self-developed rack is Kessel. SemiAnalysis stated that SpaceX plans to directly purchase chip packages from Nvidia and source the rest of the components on its own, so as to bypass Nvidia's L6 compute board. The institution wrote: "This also changes the rule of who purchases which parts: SpaceX plans to buy chip packages from Nvidia and source the rest directly, bypassing Nvidia's L6 compute board. This will give SpaceX more control over supplier selection and component procurement." Bypassing the L6 means SpaceX has obtained the design right and procurement right at the board level — links including PCB, connectors, power supply and heat dissipation will change from "Nvidia-specified" to "SpaceX self-selected." (CLS)
AMD and Samsung Electronics Collaborate to Develop Next-Generation Embedded Processors
Industry insiders stated on November 11 that Advanced Micro Devices (AMD) of the United States is cooperating with Samsung Electronics to develop next-generation embedded processors. According to industry insiders, AMD released the 6th-generation AMD EPYC Embedded 9006 series processors on local time November 10, and this product adopts Samsung Electronics' enterprise-level memory and storage solutions. Choi Jang-seok, a senior official of Samsung Electronics, said: "With the continuous advancement of memory and input and output technologies, the manufacturing test environment must also be upgraded synchronously to meet the growing demand for performance and bandwidth. We look forward to cooperating with AMD to apply these technical capabilities to our manufacturing test infrastructure." The throughput of AMD's new processor can reach up to 1.8 times that of the previous generation of products. (Sina Finance)
SoftBank Says $3.7 Billion Write-Down Unrelated to the Data Center Project in Ohio, United States
SoftBank Group updated its financial report presentation materials on November 11, clarifying that the approximately 3.7 billion US dollars of expenses accrued in the September quarter has nothing to do with the Ports-Pike data center and power generation project in Ohio, USA. The presentation materials show that SoftBank accrued a 2.9 billion US dollars impairment provision for non-refundable advance payments of power generation-related equipment that is no longer included in the company's revised plan, and accrued a 900 million US dollars loss for contract-related expenses. This sum does not include the equipment costs related to the Ohio project. The financial report released by SoftBank Group the day before yesterday shows that affected by the adjustment of the procurement plan for power generation equipment of the US AI data center project, the company recognized a loss of 597.2 billion yen (about 3.73 billion US dollars) in the six months ended September 30, 2026. (Jiemian News)
CK Hutchison May Attempt to Push Watsons for an IPO in 2027
According to reports, CK Hutchison may attempt to push Watsons for an IPO in 2027. (CLS)
Chuantu Microelectronics Launches IPO Tutoring
36Kr has learned from the disclosure on the official website of China Securities Regulatory Commission that Shanghai Chuantu Microelectronics Co., Ltd. (hereinafter referred to as "Chuantu Microelectronics") completed the tutoring filing registration at the Shanghai Securities Regulatory Bureau on November 10, 2026, planning to conduct initial public offering of shares and get listed, with CSC Financial as the tutoring securities firm.
Ailib Semiconductor Initiates IPO Guidance
36Kr learned from the disclosure on the official website of China Securities Regulatory Commission that Ailib Semiconductor Equipment (Shanghai) Co., Ltd. (hereinafter referred to as "Ailib Semiconductor") completed the guidance filing registration at the Shanghai Securities Regulatory Bureau on November 10, 2026, and plans to launch its initial public offering of shares and get listed, with Shenwan Hongyuan Securities Underwriting & Sponsorship Co., Ltd. serving as the tutoring sponsoring securities firm.
Xinhehua's Hong Kong IPO is priced at HK$40.2 per share
36Kr learned from the filings of the Hong Kong Stock Exchange that Xinhehua has set the offering price for its Hong Kong listing trading at HK$40.2 per share, and the trading is expected to start on November 11. The company plans to issue approximately 6.52 million shares, raising HK$262 million (33.4 million US dollars).
Large Corporations' Earnings Reports
Hesai: Net revenue in the third quarter reached 1.068 billion yuan, marking six consecutive quarters of GAAP profitability
36Kr learned from Hesai's announcement submitted to the Hong Kong Stock Exchange that in the third quarter, Hesai posted revenue of 1.07 billion yuan and a GAAP net profit of 80.79 million yuan, realizing GAAP profitability for six consecutive quarters. Among the figures, the revenue of Hesai's strategic growth business hit 90.51 million yuan, up 101.4% quarter on quarter. In the third quarter, the delivery volume of Hesai's robotic power modules reached 23,405 sets, with a quarter-on-quarter growth of 96.8%, the monthly production capacity has been increased to 10,000 sets, and the full-body joint modules have also entered the mass production stage. As of the end of September 2026, the total cumulative shipment of Hesai's robotic power modules has reached 35,295 sets, and the full-year shipment in 2027 is expected to hit six figures.
Investment and Financing
Domestic semiconductor module manufacturer "Lips" has secured nearly 100 million yuan in Series B financing
36Kr learned that recently, "Lips", a domestic semiconductor module manufacturer, has completed a Series B financing of nearly 100 million yuan, with the new investor being Shanghai Xinwei Capital. The funds raised in this round will be mainly used to increase investment in R&D of AIDC-related products and expand global market promotion.
Compiled by | Ji Heyu