8 Uhr, 1 Krypto | Xinba's eigenes Damenbindenprodukt soll Krebserregende Stoffe enthalten; Inner mongolische Autonome Region wird die Ermittlungen über das Ertrinken von sechs Schülern auf ein höheres Niveau heben; Ein Kunde, der wegen des Todes einer Verwandten einen Rückerstattungsantrag für ein Ticket gestellt hatte, hat von Damai.com die volle Rückerstattung erhalten, was neun Monate gedauert hat.

Going Public in Progress

Zhonghui Biotech

36Kr learned from the Hong Kong Stock Exchange's documents that Jiangsu Zhonghui Yuantong Biotechnology Co., Ltd.-B has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CITIC Securities and CMBC International.

Top 3 Big News

Xinba's Self - created Sanitary Napkins Alleged to Contain Carcinogens: M·password Issues a Statement Saying Products Passed Tests and Attaches Corresponding Test Reports

It is reported that an extremely high content of carcinogens was detected in the sanitary napkins of Xinba's self - created brand "M·password". The test reports submitted by consumers show that from September 2019 to January 2025, multiple batches of "M·password" tea - oxygen night sanitary napkins, tea - oxygen daily sanitary napkins and other products were found to contain extremely high levels of thiourea. The thiourea content in the so - called medical - grade M·password cherry blossom soothing medical - grade sanitary napkins was 1669.1608μg/g, and the thiourea content in another M·password cherry blossom soothing sanitary napkin was as high as 16653.4679μg/g.

On July 24th, M·password issued a statement to explain to all users who care about M·password regarding the recent reports about M·password products.

Firstly, all M·password products have been tested and certified by authoritative institutions and strictly comply with relevant national laws, regulations and standards. Secondly, out of a high - sense of responsibility towards users, M·password also voluntarily applied to the Market Supervision and Administration Bureau of Chenghai District, Shantou City, where the M·password factory is located, for product spot - checks. The test conclusion is that the products passed the tests, and consumers can use them with confidence.

M·password said that it always prioritizes product safety, quality and consumer rights and strictly adheres to relevant national standard requirements. (Jiupai News, The Beijing News)

Inner Mongolia to Upgrade Investigation into Drowning Deaths of Six Students

At around 10:20 on July 23, six students from Northeastern University fell into a flotation tank due to the falling off of a grating plate while visiting and learning about the flotation process at the concentrator of Inner Mongolia Mining Co., Ltd. of China National Gold Group Corporation in Wunugetushan Copper-Molybdenum Mine. After all-out rescue efforts, the six were rescued, but medical staff confirmed that they had drowned. Another teacher was injured.

Reporters found through sorting out that Inner Mongolia Mining Co., Ltd. of China National Gold Group Corporation (hereinafter referred to as "CNGG Inner Mongolia Mining"), the company involved, was found to have 27 potential hazards in 2021. In 2024, CNGG Inner Mongolia Mining was also fined a total of 518,000 yuan for starting construction without approval, including fines for the enterprise and its responsible executives.

Reporters learned from relevant personnel of the emergency management department of Inner Mongolia Autonomous Region on the 24th that in response to the incident in which six college students died, the government of Inner Mongolia Autonomous Region attaches great importance to it. The regional government is going through the procedures to set up an investigation team to upgrade the investigation. (People's Daily, China National Radio Network)

Consumers who applied for ticket refunds due to the death of a relative received a full refund from Damai.cn after nine months

On July 23rd, Mr. Bai from Shaanxi, who was refused a ticket refund by Damai.cn after his relative passed away on the eve of a concert, received a full refund of 580 yuan for the concert tickets on July 17th.

According to previous reports, in October 2024, Mr. Bai purchased tickets for the "Good Luck and Happiness" tour concert of Phoenix Legend in Xianyang on November 3rd, 2024. Early in the morning on November 2nd, 2024, his grandmother passed away. After Mr. Bai provided materials such as the medical certificate of death (inference) and cremation certificate of his grandmother as required by Damai.cn's customer service, the other party still said that "refunds are not supported."

"The refund process was full of twists and turns. On July 17th, Damai.cn's customer service contacted me twice. The second time, they asked me to supplement the household cancellation certificate, but I felt that I had no obligation to provide more materials." Mr. Bai told reporters that after refusing to submit the supplementary materials, the customer service actively promised to coordinate the refund matter, and he received a full refund of 580 yuan for the tickets that afternoon. (Sanxiang City Newspaper)

Big Companies/Big Events

Sam's Response to the Quality Downgrade of Organic Soybeans: Quality Has Indeed Declined, but the Shelf - Listing Time Could Not Be Found

On July 23rd, a netizen posted a message saying, "For the same price of $36.8, the soybeans I bought last year were of first - grade quality and marked as non - genetically modified. This year, they've become third - grade quality. What a case of reducing quality without lowering the price." According to the pictures provided by the netizen, the previously off - shelf product "Member’s Mark Organic Soybeans 2kg" was of first - grade quality. The newly listed product is "MM Organic Soybeans", which is of third - grade quality, and the "non - genetically modified" label in the original product description has now been removed.

The official customer service of Sam's Club said, "The quality has indeed declined. The current product on sale is indeed third - grade soybeans. I couldn't find the shelf - listing time here. For now, only this type of soybeans has seen a quality downgrade." (Oriental Finance)

The price per gram of gold jewelry dropped to $1012

On July 24th, reporters found through inquiries that on the 24th, the price per gram of Chow Sang Sang's gold jewelry dropped to $1015, a decrease of $14 compared with the 23rd; the price per gram of Laomiao's gold jewelry dropped to $1012, a decrease of $11 compared with the 23rd; the price per gram of Chow Tai Fook's gold jewelry dropped to $1016, a decrease of $7 compared with the 23rd. (Urban Report)

Pop Mart's Wang Ning Responds to Controversy over Hunger Marketing: Production Capacity Is Increasing Every Month

According to a report on the morning of July 24th, in an exclusive interview with CCTV News, Wang Ning, the founder of Pop Mart, responded to the controversy over "hunger marketing." He said, "We are now selling 10 million LABUBU figurines every month. We have been doing our best to optimize our supply chain. LABUBU has explosively become a world - class IP. It's true that the demand exceeds the growth of our entire supply chain."

Wang Ning revealed, "The sewing machines are almost smoking from overuse. In fact, we are increasing our production capacity every month. This month's production capacity has doubled compared to last month, and there may be a significant increase next month. Why can we only double it instead of increasing it ten - fold? It's because we hope to have strict quality control." (Sina Finance)

WeChat Pay Officially Integrates with HarmonyOS Cashier, with Further Adaptation to Follow

On July 24th, WeChat Pay announced its official integration with the cashier function of HarmonyOS 5, offering a more convenient payment experience for users of Huawei phones running HarmonyOS 5. This move means that consumers using devices powered by HarmonyOS 5 can directly choose WeChat Pay to complete transactions when purchasing digital goods or services (such as membership subscriptions, game items, e - books, etc.) after binding their WeChat Pay accounts. (Sina Tech)

Lou Ye Issues a Statement in Response to "Allegations of Embezzlement of Tens of Millions"

On July 24th, director Lou Ye issued a statement in response to the "allegations of embezzlement of tens of millions." Lou Ye stated, "The content of the video is purely fabricated and a slander against me. In the face of the long - standing rumors and slander targeting the film 'Three Characters' and myself, as a film director, I will safeguard my rights as an author and personal rights through legal means. I will protect the rights and interests of the film and all the actors and staff involved in 'Three Characters' from infringement, and will hold accountable those individuals and companies who attempt to seize the film until the film is finally released." (Jiemian News)

Dieshi Has Applied for Multiple Trademarks for the Fashion Toy Brand DearNikki

36Kr learned that female-oriented games are making a strong foray into the fashion toy market. At the end of May this year, game company Dieshi launched a new fashion toy brand, DearNikki, for its female-oriented "Nuan Nuan" game series. Meanwhile, it premiered the blind boxes of the "Nuan Nuan: Dream Weaving Prologue" series, which were restocked several times after being put on the shelves. According to Tmall data, during this year's 618 shopping festival, Dieshi's Xinyi flagship store surpassed Pop Mart's flagship store and topped the pre-sale transaction list of fashion toys on Tmall. The Aiqicha app shows that Dieshi's affiliated company, Suzhou Dieshi Network Technology Co., Ltd., has applied to register multiple "DEARNIKKI" trademarks. The international classifications cover scientific instruments, clothing and footwear, education and entertainment, etc. Currently, most of the above trademarks are awaiting substantive review.

The AI glasses market has witnessed explosive growth, with the category's sales volume surging tenfold year-on-year in the first half of the year

Traditional household appliances are being upgraded, while trendy digital products are frequently emerging as best-sellers. The latest data from the Ministry of Commerce reveals that since the start of this year, over 69 million consumers have purchased more than 74 million digital products including mobile phones. AI smartphones, AI computers, and AI glasses are becoming the trendy trio among young consumers. In numerous stores, AI glasses are "selling out immediately upon arrival" and facing supply shortages. E-commerce platform statistics indicate that during the first half of this year, the smart glasses market has seen explosive expansion, with the category's sales volume skyrocketing tenfold compared to the same period last year, while the number of settled brands has more than tripled year-over-year. Furthermore, supported by national subsidies and industrial chain coordination, product entry barriers are lowering. The average price of smart glasses has decreased from over 2,000 yuan to approximately 1,500 yuan. (CCTV Finance)

The State Administration for Market Regulation Focuses on Rectifying "Involution-style" Competition in the Quality Field

Recently, the State Administration for Market Regulation has exposed a batch of typical cases of illegal "involution-style" competition in the quality field. The common feature of these cases is that enterprises neglect competition in brand, quality, and technology. In order to obtain short-term market share and profits, they reduce cost investment and disrupt the fair competition order in the market with "low-quality" products. These vicious competition behaviors, such as focusing on price rather than brand, cutting costs at the expense of quality, and disregarding rules to lower the bottom line, have led to an overall decline in product quality, directly affecting the consumption rights and interests of the people and undermining the long-term and healthy development ecosystem of the industry. (CCTV News)

Maimai: Over 40% of Employees in Top Domestic AI Companies Have Job-Hopping Intentions

36Kr learned that data from the Maimai platform shows that as of July 2025, 41.07% of employees in top domestic AI companies have job-hopping intentions, with their job-seeking status being "actively looking for opportunities", far higher than that in the Internet industry (14.65%). Since February 2025, tens of thousands of new AI talents have changed their job-seeking status to "actively looking for opportunities" each month, indicating the high activity of AI talents.

Popular Hair and Body Care Brand "New Zealand 8 Minutes" Suspected of Misleading Consumers

Recently, some consumers have filed complaints on the platform, claiming that the popular hair and body care brand Jema Rose's "New Zealand 8 Minutes" product line is suspected of misleading consumers. Products launched by Jema Rose, such as the "New Zealand 8 Minutes Luxury Repair Caviar Shampoo", also have the words "8+MINUTE" written on their packaging. On the back of the packaging of the "Caviar Shampoo and Hair Mask", there is a small note stating that "NEW ZEALAND 8+MINUTE is translated as New Zealand 8 Minutes and is only used as the product series name without other meanings". When consumers asked the customer service and the anchor in the official live - streaming room, they said that "the '8 minutes' refers to the fact that the formula has undergone a special 8 - minute process, which can help repair and smooth hair". When a reporter asked whether the product's origin was New Zealand, the anchor frequently avoided the topic.

A lawyer said that Jema Rose's actions clearly constitute fraud. In its promotion, Jema Rose also clearly used the description "Combined with New Zealand's cutting - edge technology, in just 8 minutes, it can deeply penetrate active essences and enjoy the same SPA experience as in a professional beauty salon", which is not what it claimed, that "New Zealand 8 Minutes refers to the formula undergoing a special 8 - minute process". This is obviously false advertising and fraudulent behavior towards consumers. (China News Service)

The three major U.S. stock indexes closed mixed, with Tesla falling more than 8%

36Kr learned that at the close on July 24, the three major U.S. stock indexes showed mixed performance. The Dow Jones Industrial Average fell 0.7%, the Nasdaq Composite rose 0.18%, and the S&P 500 Index rose 0.07%. Most large technology stocks rose, with Amazon, NVIDIA, and Google rising more than 1%. Microsoft, Netflix, Arm, and Meta had slight increases. Tesla fell more than 8%, and Apple had a slight decline. Most popular Chinese concept stocks fell. Bilibili fell more than 4%, and Weibo, Li Auto, and Baidu fell more than 2%. iQiyi, JD.com, Alibaba, Tencent Music, and NIO fell more than 1%. XPeng Motors rose more than 1%.

LVMH Sales Decline Again as Demand in Japan Drops

LVMH's revenue has declined as consumers are buying fewer expensive Louis Vuitton handbags and Dior coats, indicating that the luxury giant remains in a post-pandemic slump. LVMH Group said in a statement on the 24th that the organic revenue of its largest division, the fashion and leather goods division, fell 9% in the second quarter. This performance was worse than analysts' expected decline of 7.8%. (Sina Finance)

Intel is implementing a nearly 15% lay - off plan and expects to cut the number of employees to 75,000 by the end of the year

Intel CEO Pat Gelsinger sent an email to all employees on July 24, stating that the company is implementing a plan to lay off approximately 15% of its workforce. It is expected that the total number of global employees will be around 75,000 by the end of this year. Gelsinger said that Intel completed a large - scale lay - off in the second quarter, streamlining the management hierarchy by nearly 50%. "We also expect to implement a return - to - work policy in September, and each factory will complete the necessary improvements to achieve full - capacity operation." (Jiemian News)

TikTok's Revenue Reached $23 Billion in 2024, Accounting for a Record - High Proportion of ByteDance's Total Revenue

36Kr learned that the "TikTok App Report" by the UK-based Business of Apps shows that TikTok's revenue soared to $23 billion in 2024, a year - on - year increase of 42.8%. As a result, TikTok has become the fourth - largest social app in terms of global revenue, only behind Facebook, Instagram, and YouTube. This performance is also reflected in ByteDance's overall business. According to a report from technology media The Information, although both the net profit growth rate and profit margin of ByteDance slowed down in 2024, the revenue from its overseas business, mainly driven by TikTok, increased by 63% year - on - year, accounting for a quarter of ByteDance's total revenue, reaching a record high proportion.

Trump Says He Will Impose Simple Tariffs of 15% to 50%: If the EU Opens Up to US Companies, It Can Pay Lower Tariffs

On the 23rd local time, US President Donald Trump said that he will impose simple tariffs of 15% to 50% on most other countries in the world. Trump also said that the United States is having serious negotiations with the European Union, and if they agree to open up to US companies, the United States will allow them to pay lower tariffs.

European Commission spokesman Orlov Gyll said on the 23rd that if the trade negotiations between the EU and the United States break down and the United States imposes high tariffs on EU goods, the EU plans to quickly impose tariffs on US goods worth nearly 100 billion euros. (CCTV News, Beijing Daily)

A Russian passenger plane carrying 49 people crashed, with one Chinese citizen on board

According to the Chinese Consulate General in Khabarovsk, there was one Chinese citizen on the passenger plane that crashed in the Amur Oblast in the Russian Far East on the 24th.

On the 24th local time, according to the Russian emergency situation department, a Russian An - 24 passenger plane carrying 49 people went missing in the Amur Oblast in the Russian Far East. The plane involved carried 43 passengers and 6 crew members and was flying on the Khabarovsk - Blagoveshchensk - Tynda route. Subsequently, the Russian Emergency Situations Ministry said that the crash site of the passenger plane had been found. The Mi - 8 helicopter participating in the search mission found the burning fuselage of the plane.

Preliminary investigations show that poor visibility during landing and operational errors by the crew may be the reasons for the crash of the An - 24 passenger plane. Preliminary data from law - enforcement agencies said that the technical condition of this An - 24 passenger plane was good. Currently, the transportation investigation department is conducting further investigations. (Xinhua News Agency, CCTV News)

Elon Musk's brain-computer interface company plans to implant chips in 20,000 people annually by 2031, with revenues reaching $1 billion

Investor documents show that Elon Musk's brain-computer interface company, Neuralink, aims to implant chips in 20,000 people annually by 2031 and achieve annual revenues of at least $1 billion. It is reported that the company aims to open five large clinics within six years and offer three versions of brain implants, including "Telepathy" for communication between the brain and machines, "Blindsight" for restoring vision, and "Deep" for treating tremors and Parkinson's disease. (Sina Finance)

Nestle Considers Selling Underperforming Vitamin Brands

Nestle said on the 24th that it might sell brands such as Nature’s Bounty in its vitamin business. This is part of the company's CEO Laurent Freixe's efforts to boost sales growth. The Swiss consumer goods giant said it would evaluate underperforming brands in its vitamins, minerals and supplements division, which could lead to the sale of some brands. Nestle is seeking to shift the business towards high-end products. (Sina Finance)

Tesla Restaurant to Launch Robot Waiters Next Year

On July 23, Tesla CEO Elon Musk announced, "Next year, Optimus will bring your meal to your car." He added, "We can also dress Optimus in cute outfits." (Sina Finance)

Tesla Faces a "Tough Quarter" Due to the Reduction of U.S. Electric Vehicle Subsidies, Musk Says Autopilot Business Will Not Generate Revenue Until Next Year

Tesla CEO Elon Musk warned that the company may experience "a few tough quarters", mainly due to the shrinking support policies of the U.S. government for electric vehicle manufacturers. The financial report released on Wednesday showed that the electric vehicle giant's sales volume in the quarter suffered the largest decline in more than a decade: the total revenue decreased by 12% year - on - year, and the launch of the redesigned flagship Model Y failed to boost sales; the regulatory credit revenue plunged by 51%, further dragging down profits. As the U.S. government will cancel the maximum $7,500 consumer tax credit for vehicle purchases later this year, Musk admitted in the earnings conference call that "we still need to get through the difficult times before the autopilot software service starts generating revenue in the second half of next year." This statement caused Tesla's stock price to fall by nearly 5%. (Sina Finance)

Musk: Tesla's First Affordable Model Is in Production, Resembling Model Y in Appearance

Tesla CEO Elon Musk and CFO Vaibhav Taneja attended the Q2 earnings conference call for fiscal year 2025 on the 24th. A so - called "affordable model" mentioned during the call caught people's attention. During the meeting, Musk stated that Tesla is developing an affordable model. This model went into production in June this year, and its production volume will be gradually increased in the coming quarters. Mass production is expected to be achieved in the second half of the year. Regarding its appearance, Musk said that the car looks very much like the Model Y and predicted that it will be launched in the fourth quarter.

Foreign media Electrek commented on this, saying that Musk's remarks were a bit confusing because he wrongly denied reports last year about the cancellation of Tesla's $25,000 (equivalent to approximately 179,000 RMB at the current exchange rate) electric vehicle.

In recent weeks, a camouflaged car has appeared at Tesla's California factory, with an appearance almost identical to that of the Model Y. Electrek believes that this might be the affordable Tesla that Musk mentioned and estimated, based on publicly available information, that the price of this car will be $35,000 (equivalent to approximately 251,000 RMB at the current exchange rate). (IT Home)

The Cutting - Edge of AI

Lovart Launches Globally, Unveils New Feature "ChatCanvas"

36Kr has learned that the AI design agent Lovart officially launched globally on July 23 (Pacific Time), ending its months-long Beta test and simultaneously opening up the full-feature experience. Currently, the platform has completely removed the invitation code restriction. All users can directly register and use it without applying and waiting. It is understood that it has introduced the "ChatCanvas" feature. Users can leave a message in any area of any finished work on the canvas, and it can understand which area the user is referring to and what the intention is, and then "run all" to automatically complete the modification.

OpenAI is reportedly preparing to launch the new version of its flagship large model, GPT-5, in August, along with mini and nano versions.

It is reported that OpenAI is reportedly preparing to launch the new version of its flagship large model, GPT-5, in August, along with mini and nano versions. (Cailian Press)

Investment and Financing

"Accelerate Evolution" Secures Over 100 Million Yuan in Series A+ Round Led by Shoucheng

36Kr learned that according to Shoucheng Holdings, recently, the embodied intelligence company "Accelerate Evolution" announced the completion of a Series A+ round of financing exceeding 100 million yuan. This round of financing was led by the Beijing Robot Industry Development Investment Fund managed by Shoucheng Holdings, with follow - on investments from the Beijing Artificial Intelligence Industry Fund and Bohua Capital. This is another large - scale financing completed by the company in a short period after the Series A round led by Shenzhen Capital Group in June this year.

Flying Cruiser Completes Tens of Millions in Pre-A Round Financing

36Kr learned that recently, Beijing Flying Cruiser Technology Co., Ltd. announced the completion of tens of millions of RMB in Pre-A round financing. This round of financing was led by domestic venture capital institution Guozhong Capital, with Chunde Investment participating as a follow-on investor. All the financing funds will be injected into the company's core business development, focusing on accelerating the research and development of next-generation supersonic aircraft technology, expanding the R & D team, building a core intellectual property barrier, and promoting the transformation of cutting-edge technologies to the market.

“Yuntian Changxiang” Completes Over $100 Million Series D Financing

36Kr has exclusively learned that recently, Yuntian Changxiang completed over $100 million in Series D financing, led by Liangxi Digital Mother Fund. After this round of financing, Yuntian Changxiang plans to further improve the ecological layout of its AI business and accelerate the deployment scale of computing power nodes in core regions such as East China to meet the growing demand for computing power.

Zhengzhou fried chicken brand "Zhang Duntun Flowering Chicken Drumsticks" secures tens of millions in angel - round financing

36Kr has learned that the emerging Zhengzhou food and beverage brand "Zhang Duntun Flowering Chicken Drumsticks" recently announced the successful completion of an angel - round financing worth tens of millions of RMB. This round of financing was exclusively invested by the investment institution Milken Venture Capital. The funds obtained in this round will be concentrated on the in - depth optimization of the franchisee support system and market expansion.

"Bailv Wuyou" Completes Angel Round of Financing

36Kr learned that recently, the artificial intelligence legal technology company "Bailv Wuyou" announced the completion of an angel round of financing. The investor is Visionary (Hainan) Investment Holding Co., Ltd. The funds from this round of financing will be used to accelerate the R & D iteration of AI legal service products, expand the market, and build the team, further promoting the implementation of inclusive legal services.

Cool Products

The iPhone 17 series may add a new gray color, which is expected to be used for the base model and Pro

On July 23, technology media majinbuofficial posted a blog post, stating that Apple is internally testing a new shade of gray for the standard version of the iPhone 17, which is inspired by the classic design of the iPhone 6.

Apple had planned to introduce this gray color on the iPhone 16 Pro in 2024, but ultimately chose desert - colored titanium. According to the latest news, Apple has re - evaluated this gray color, and it is expected to be used on the base model of the iPhone 17 and the iPhone 17 Pro.

Apple has internally tested the gray - colored iPhone 17 and iPhone 17 Pro, but it remains unknown whether this color will eventually appear in the sales models. (IT Home)

The all-new HUAWEI MatePad Pro 12.2-inch tablet is officially launched

36Kr learned that on July 24th, at the Huawei Tablet Flagship New Product Launch Event, the all-new HUAWEI MatePad Pro 12.2 inches was officially launched.

BYD Ocean Network's All-New Midsize SUV, Sea Lion 06, Officially Launched

36Kr learned that on July 24th, BYD Ocean Network's all-new midsize SUV, Sea Lion 06, was officially launched. The official guide price of the Sea Lion 06 DM-i ranges from 139,800 yuan to 156,800 yuan, and that of the Sea Lion 06 EV ranges from 143,800 yuan to 163,800 yuan. The new car offers multiple car - buying benefits, including the Leading Renewal Gift, Leading Charging Gift, Leading Worry - Free Gift, Leading Maintenance Gift, and Leading Smart Connectivity Gift.

Compiled | Anya Sun