8 Uhr, 1 Krypton | Ein Insider enthüllt den Grund für die Rücktrittserklärung von Zong Fuli; Einige Filialen von Xi Bei tauschen ihre Schilder aus; Ein Richter stellt fest, dass Xu Jiayins Treuhand von 2,3 Milliarden US-Dollar eine betrügerische Vermögensübertragung darstellt.
Today's Hotspot Guide
Guo Haitao of Zeekr Resigns
The "920" Era of the Beijing Stock Exchange Fully Kicks Off
A US Company Recalls Hundreds of Tons of Pasta Contaminated with Listeria
Qualcomm is Suspected of Violating the Anti - monopoly Law, and the State Administration for Market Regulation Decides to Launch an Investigation in Accordance with the Law
Apple Adjusts Its Structure, and the Health and Fitness Business Unit Will Be Merged into the Services Department
Top 3 Big News
Source: Zong Fuli's resignation this time is due to "non - compliance" in trademark use, and she has decided to operate her own brand "Waxiao Zong".
Zong Fuli resigned from the positions of Chairman and General Manager of Wahaha Group before the National Day holiday, and this matter has been approved by the shareholders' meeting and the board of directors. When calling a person close to the major shareholder of Wahaha Group, the Shangcheng District Cultural, Commercial and Tourism Group in Hangzhou, the other party said that it was not convenient to disclose at present, and the group's announcements could be followed up later.
Wahaha confirmed that Zong Fuli resigned from the positions of legal representative, director, and chairman of Wahaha Group Co., Ltd. on September 12, and the relevant procedures have been approved by the group's shareholders' meeting and the board of directors. A source said that Zong Fuli's resignation this time was due to "non - compliance" in trademark use, and she decided to operate her own brand "Waxiao Zong". (Caixin)
Xibei Changes Its Storefront Signage, and Jia Guolong Says: It's a Small-Scale Trial and Won't Be Rolled Out Nationwide
Recently, some netizens posted that Xibei's store at Wanda Plaza in Shijingshan, Beijing, had changed its storefront signage. The restaurant's logo changed from the previous red-and-white color scheme to a white-and-green one, and "Youmiancun" was changed to "I Come From the Grasslands". In response, Jia Guolong, the founder and chairman of Xibei, said, "This is just a small-scale trial and won't be extended to all stores across the country. Maybe in the future, there will be one or two stores in central cities using this new slogan (and logo), just like Starbucks has black-label stores and factory stores." (Sina Technology)
The judge pointed out that Xu Jiayin's $2.3 billion trust was a fraudulent asset transfer
In 2019, when the crisis at Evergrande had not fully erupted, Xu Jiayin and his wife quietly established a family trust structure worth $2.3 billion in the United States. This fund mainly came from the more than 50 billion yuan in dividends that the couple received from Evergrande between 2009 and 2022. After being transferred layer by layer through offshore companies, it was injected into the trust, with their two sons designated as beneficiaries.
The judge pointed out that although Xu Jiayin nominally transferred his assets into the trust, he retained core control rights such as investment decision - making and changing beneficiaries, reducing the trustee to a "puppet". More importantly, Evergrande had already had a financial black hole as early as 2017. Knowing that the company was in a precarious situation, Xu Jiayin rushed to transfer assets before the crisis broke out in 2019, which was clearly a "fraudulent asset transfer". (Phoenix Finance)
Large Companies/ Major Events
Qualcomm is suspected of violating the Anti - Monopoly Law, and the State Administration for Market Regulation decides to launch an investigation in accordance with the law
As Qualcomm failed to declare the concentration of business operators in accordance with the law when acquiring Autotalks, it is suspected of violating the Anti - Monopoly Law of the People's Republic of China. The State Administration for Market Regulation has launched an investigation into Qualcomm in accordance with the law. (CCTV News)
Hong Kong Takes Multiple Measures to Assist Mainland Enterprises in "Going Global"
The Hong Kong Special Administrative Region (HKSAR) government recently officially launched the "Task Force for Mainland Enterprises Going Global." Paul Chan Mo-po, the Financial Secretary of the HKSAR, said at the launch ceremony on October 6 that under the supervision of the task force, the HKSAR government's work to assist enterprises in "going global" will be carried out more in - depth and extensively, and different policy measures will also be introduced. Chan said that the proposed policy measures include promoting mainland banks to set up regional headquarters in Hong Kong to support mainland enterprises in expanding into markets in Southeast Asia, the Middle East and other regions; providing tax concessions to attract more mainland enterprises to set up treasury centers in Hong Kong; and promoting carbon emission accounting services, etc. (Securities Daily)
Latest Update on the Avita 06 Fire Incident: Battery-Related Fire Causes Confirmed to be Ruled Out
On October 5, 2025, a fire broke out in an Avita 06 parked in a parking lot in Xiapu County, Ningde City, Fujian Province. The incident has drawn the attention of all sectors of society to the safety of electric vehicles. On October 9, Avita officially released a statement disclosing the progress of the investigation, clearly ruling out fire causes related to the power battery, drive motor, high-voltage electronic control system, and other battery and core electronic control systems.
According to feedback from local relevant departments, the origin of the fire was in the front passenger seat area of the vehicle, not in the power battery area. Key data shows that the voltage, temperature, and air pressure of the vehicle's battery pack were all within the normal range when the fire occurred, directly proving that there was no abnormal state in the battery system. (Cover News)
Recruitment for public - sector jobs in many places breaks the 35 - year - old age threshold, with the age limit for undergraduates relaxed to 38 and below
Recently, many places have further relaxed the age limit for recruitment into public - sector jobs.
In January this year, the Sichuan Provincial Department of Human Resources and Social Security issued the "Implementation Opinions on Further Deepening Reforms in the Employment Field to Promote High - quality and Full Employment (Draft for Comment)", proposing to support public institutions in appropriately relaxing the recruitment age requirements and encouraging enterprises to relax the age limit for employment. On September 26, Meishan City, Sichuan Province, released a list of positions and qualification requirements for the public recruitment of staff in public institutions in the second half of 2025. The age limit for the positions is that undergraduates should be born on or after October 13, 1986; postgraduate students should be born on or after October 13, 1981. (Nanfang Daily)
Tim Responds to Rejecting Financing: For a Content Company, Taking Money Is Like Selling Colleagues
On October 10th, a new episode of the podcast "Luoyonghao's Crossroads" was released, with Tim, the founder of Filmora, as the guest. Tim said in the conversation, "We really haven't sought financing and have no intention to. Many people have offered us very high prices, and some large platforms have made extremely generous offers, in the hundreds of millions and more. For a content company, taking money is like selling your colleagues and getting money in return. Content doesn't necessarily get better with more people involved; otherwise, Disney would be the best content - creation company in the world. In the end, you'll just be an ATM, making payments for them and handling business for them." (Oriental Finance)
The "920" era of the Beijing Stock Exchange officially begins
Starting from October 9, the Beijing Stock Exchange will assign new "920" securities codes to existing stocks. This means that the "920" era of the Beijing Stock Exchange has officially kicked off. Previously, on September 12, the Beijing Stock Exchange issued a notice stating that the overall preparations for the code switching of existing listed companies were ready. Starting from October 9, new securities codes will be assigned to existing stocks. When investors place trading orders or query market quotes for existing stocks, and when market participants handle related business for existing stocks, they should all use the switched securities codes. Professionals believe that after the full implementation of the "920" code segment by the Beijing Stock Exchange, the unified code system will help establish an independent market identity and further highlight the independent market status of the Beijing Stock Exchange as the third stock exchange. (Beijing Daily)
Apple Adjusts Organizational Structure: Health and Fitness Business Unit to Be Merged into Services Unit
According to foreign media reports, people familiar with the matter revealed that Apple is preparing to expand the responsibilities of some executives to address the impending departure of Chief Operating Officer Jeff Williams. Eddy Cue, the head of the Services unit, will oversee Apple's health and fitness business team, and Craig Federighi, the head of software engineering, will be in charge of the operating system business for Apple Watch. This move is made ahead of Apple's plan to launch a new subscription service called Health+, aiming to integrate the company's health and fitness businesses. (Sina Finance)
Changan Automobile: Avita Technology has paid Huawei the full price of 11.5 billion yuan for the 10% equity of Yinwang.
36Kr learned that Changan Automobile announced that as previously disclosed, its associated company Avita Technology planned to purchase the 10% equity of Yinwang held by Huawei, with a transaction amount of 11.5 billion yuan. As of the date of this announcement, Avita Technology has paid Huawei the third - phase transfer price of 3.45 billion yuan and has paid the full price for this transaction.
Netflix is bringing video games to TV screens to expand its gaming business
On Wednesday, reports said that Netflix is bringing video games to TV screens to expand its gaming business. Subscribers can now use their mobile phones as controllers to play specific games, aiming to break through the limitations of mobile devices and reach a wider audience. (Sina Finance)
Guzi Technology Launches "Smart Ticket Stub", Integrating Technologies like Autostereoscopic 3D Hovering Images
36Kr learned that recently, Guzi Technology launched the "Smart Ticket Stub" application. This ticket stub is equipped with the PUF + OTP fingerprint chip independently developed by the enterprise, and constructs a digital identity authentication and anti - counterfeiting traceability system through the physical unclonable characteristics and one - time password algorithm. It is understood that Guzi Technology has integrated cutting - edge technologies such as autostereoscopic 3D hovering images with the smart ticket stub system.
U.S. Government Shutdown Continues, Over 20,000 Flights Delayed This Week
The U.S. Senate still failed to pass a new temporary appropriation bill on the 9th, and the federal government shutdown continued. Due to a severe shortage of air traffic controllers, over 20,000 flights across the United States have been delayed since this week. (Xinhua News Agency)
Former UK Prime Minister Rishi Sunak Joins Microsoft and Anthropic as Advisor
Former UK Prime Minister Rishi Sunak said on October 9 local time that he has joined Microsoft and artificial intelligence startup Anthropic as a senior advisor. Sunak said that all the income related to these positions will be donated to The Richmond Project, a charity he founded with his wife. (Jiemian News)
ByteDance: Employees Leaving Due to Organizational Adjustments Will Receive a Transitional Subsidy of Up to 12,000 Yuan per Month for a Maximum of Six Months
ByteDance has announced a new employee subsidy policy. It was learned from sources close to ByteDance that the company recently launched a new employee support program: For full - time employees in mainland China who are involuntarily laid off due to organizational adjustments, on top of the original economic compensation plan, eligible employees will be provided with an additional transitional subsidy of up to 12,000 yuan per month for a maximum of six months. This policy has officially taken effect this month. According to this policy, the maximum value of the transitional subsidy can reach 72,000 yuan. The above - mentioned subsidy consists of two parts: social security subsidy and living subsidy. It is understood that ByteDance's move is to provide transitional basic support and assistance to employees who leave the company due to organizational adjustments. (The Paper)
A US company recalls over 100 tons of pasta contaminated with Listeria
A food company in California, USA, recently recalled nearly 245,000 pounds (about 111 tons) of cooked Italian pasta. This batch of pasta was contaminated with Listeria and had been made into dozens of varieties of food, which were sold in many supermarkets in the United States. According to an announcement released by the US Food and Drug Administration on October 9, Natori Foods, located in Roseville, California, recalled thousands of boxes of products such as spaghetti, fettuccine, and macaroni on September 25. These products were supplied to producers of large - scale ready - to - eat meals and pasta salads. After testing, it was confirmed that the pasta produced by Natori Foods contained Listeria strains related to the recent epidemic in the United States. (Xinhua News Agency)
Shanghai Xuhui Zhichun Innovation Center Officially Opened, Zhang Yiming Appeared and Spoke
According to the news from the Zhichun Innovation Center, on October 9th, the Shanghai Xuhui Zhichun Innovation Center was officially opened. The innovation center was jointly initiated by Zhang Yiming, the founder of ByteDance, and Professor Yu Yong, the founder of the ACM Class at Shanghai Jiao Tong University. As a private non - profit institution, the center plans to recruit young people interested in general computer science and artificial intelligence. In his on - site speech, Zhang Yiming mentioned that he has long been concerned about talent recruitment and cultivation and noticed that the potential of many talents has not been fully tapped. He made an analogy with the overfitting phenomenon in machine learning models. Some talents may have a solid foundation in professional knowledge and highly precise skills, but they are not up to the task when it comes to innovation.
BOE A: Vice Chairman Gao Wenbao Resigns Due to Personal Reasons
36Kr learned that BOE A announced that the company received a written resignation report from Vice Chairman Gao Wenbao on October 10, 2025. Gao Wenbao applied to resign from his positions as a director, vice chairman, and member of the special committees of the board of directors due to personal reasons. After resigning, he will no longer hold any positions in the company or its holding subsidiaries.
Yan Xuefeng, a core member of Wahaha, has returned to work normally
On October 10, reporters learned from two sources that Yan Xuefeng, a core member of the Wahaha Group, had his case review lifted on October 5 and has now returned to work normally at the Hongsheng Group. An inquiry was made to the official Wahaha for verification, but no response has been received yet.
On October 2, Caixin reported that Yan Xuefeng was under a case review by the Discipline Inspection Commission of Shangcheng District, Hangzhou, for suspected disciplinary violations, and the case-filing notice had been sent to the Party Committee of the Wahaha Group. Subsequently, a call was made to the Discipline Inspection Commission of Shangcheng District, Hangzhou, but no response was obtained. It is reported that Yan Xuefeng is currently the director of the production center of Hongsheng Beverage Group Co., Ltd. and is one of the core executives of the Hongsheng Group. (Jiemian News)
Geely's ZEEKR CBO Guan Haitao Reportedly Resigns
Media reports claim that Guan Haitao, the CBO of ZEEKR Technology Group, has recently left the company and no longer holds any position. However, a person familiar with the matter stated that Guan Haitao is still employed at the company.
It is reported that Guan Haitao's latest Weibo post was made in early August this year, and his account has been inactive for two months. Currently, his Weibo username has been changed from "ZEEKR Guan Haitao" to "Guan Haitao Thomas", and his Weibo verification still reads "CBO of ZEEKR Technology Group". Information shows that Guan Haitao previously served as the CMO of Honor in China and the head of the e-commerce department. In 2023, Guan Haitao left Honor and joined ZEEKR as the CMO, and in February 2025, he took on the role of Chief Business Officer (CBO) of ZEEKR Technology Group. (Sina Tech)
The Cutting - Edge of AI
Google Cloud Enters the AI Office Market, Competing with Microsoft and OpenAI's Enterprise Products
Google's cloud division has launched an artificial intelligence platform called Gemini Enterprise, aiming to target ordinary employees and engage in more in - depth competition with Microsoft and OpenAI in the office field. Google announced this product on Thursday, ahead of its parent company Alphabet's "Gemini at Work" event, with the intention of providing an easy - to - use AI tool to help employees in various departments automate complex tasks and generate content. Google said that the platform will charge users $30 per month. (Cailian Press)
NVIDIA Gets US Approval to Export AI Chips to the UAE
During the early trading session on Thursday, NVIDIA's stock rose 2.1%, hitting a record high. Prior to this, the company received US approval to export AI chips to the United Arab Emirates (UAE), marking a significant progress in the bilateral AI agreement. The UAE has promised to match the chip imports with an equal amount of US investment. This plan is part of a $1.4 trillion investment blueprint for the next decade. This agreement highlights NVIDIA's strategic position in US AI diplomacy. (Sina Finance)
Global financial regulators plan to strengthen monitoring of artificial intelligence
As banks and other areas of the financial industry accelerate the application of artificial intelligence, global financial regulators have formulated plans to strengthen the monitoring of related risks. Concerns raised by regulators include: too many financial institutions may ultimately use the same AI models and specialized hardware, which may lead to "herd behavior" - style convergent actions. (Sina Finance)
Microsoft is collaborating with Harvard Medical School to enhance its AI tool Copilot
During the early trading session on Thursday, Microsoft's stock fell 0.5%. It is reported that the company is enhancing its AI tool Copilot through a collaboration with Harvard Medical School. The upgraded version will integrate data from Harvard Health Publishing to provide authoritative medical information, demonstrating Microsoft's determination to expand AI applications in the medical field. (Sina Finance)
Cool Products
Frame of iPhone 18 Fold Exposed
On October 8th, technology media Wccftech published a blog post reporting that in the latest investment briefing, analyst Jeff Pu revealed that Apple is developing its first foldable phone, the iPhone 18 Fold, which is expected to be released by the end of 2026.
In terms of materials, Jeff Pu analyzed that to balance strength, weight, and heat dissipation management, the biggest innovation of the iPhone 18 Fold lies in the use of a hybrid metal frame. It utilizes the structural strength of titanium to ensure the durability of the device while leveraging the lightweight characteristics of aluminum to control the overall weight of the phone.
Regarding the screen, based on multiple sources of information, the iPhone 18 Fold will have a 7.8 - inch inner screen when unfolded, and there will also be a 5.5 - inch outer screen. Mark Gurman of Bloomberg said that its overall form may be similar to two ultra - thin iPhone Airs stacked side by side.
In terms of production progress, Jeff Pu revealed that the iPhone 18 Fold will be assembled by Foxconn. It has now entered the New Product Introduction (NPI) phase, which means the product has shifted from design to production verification. Mass production is expected to start in the second half of 2026. (IT Home)
Illustration
Investment and Financing
The First Unicorn in the Intelligent Chassis Field is Born: CATL Times Intelligence Completes Its First Round of Financing, Valued at Over 10 Billion Yuan
Recently, CATL (Shanghai) Intelligent Technology Co., Ltd., a product technology service provider for intelligent skateboard chassis under CATL, completed its first external financing. The investors include well - known market - oriented institutions such as Boyu Capital and Guotai Junan, industrial capital such as BAIC Capital, and state - owned capital such as Shanghai Science and Technology Innovation Investment and Futeng Capital. The total amount of this round of financing exceeded 2 billion yuan. The funds will be mainly used for the mass production of CATL's Panshi chassis models and the R & D of the next - generation Panshi chassis technology. After this financing, CATL Times Intelligence is valued at over 10 billion yuan, becoming the first unicorn enterprise in the intelligent chassis field. (Caixin Media)
On the Way to Going Public
Northland
36Kr learned that Northland announced that the company plans to issue shares (H shares) overseas and apply for listing on The Stock Exchange of Hong Kong Limited (HKEX). The company will further enhance its internationalization level, brand image and popularity, raise funds for the long - term and steady development of the company, and strengthen its comprehensive strength. At present, the company plans to discuss the relevant work of this H - share issuance and listing with relevant intermediaries, and the details have not been determined. The work of this H - share issuance and listing still needs to be submitted to the company's board of directors and shareholders' meeting for review, and requires the filing, approval or verification of relevant government agencies and regulatory authorities such as the China Securities Regulatory Commission, HKEX and the Hong Kong Securities and Futures Commission. The company will timely fulfill its information disclosure obligations according to the subsequent progress.
Proya
36Kr learned that Proya announced that the company intends to issue H-shares and apply for listing on the Main Board of the Hong Kong Stock Exchange.
Qichacha
36Kr learned that according to the official website of the Shanghai Stock Exchange, Qichacha Technology Co., Ltd. (referred to as "Qichacha") has submitted its prospectus and plans to list on the main board of the Shanghai Stock Exchange.
Financial Reports of Large Companies
Chuanjinnuo: Net profit in the first three quarters is expected to increase by 163% - 181% year-on-year
36Kr learned that Chuanjinnuo announced that it expects the net profit attributable to shareholders of the listed company in the first three quarters of 2025 to be between 290 million yuan and 310 million yuan, an increase of 162.56% - 180.66% compared with the same period last year. During the reporting period, market demand was strong. The company leveraged its flexible production capacity advantage, optimized its production plans and product mix, increased the proportion of high - margin products, which drove the growth of sales revenue. At the same time, it deepened cost control and enhanced its profitability. The impact of non - recurring gains and losses on net profit was approximately 13.7 million yuan.
Allwinner Technology: Net profit in the third quarter is expected to increase by 213%-307% year-on-year
36Kr learned that Allwinner Technology announced that it expects the net profit attributable to shareholders of the listed company in the first three quarters of 2025 to be between 260 million yuan and 290 million yuan, a year-on-year increase of 72.20%-92.06%. It is estimated that the net profit in the third quarter will be between 100 million yuan and 130 million yuan, a year-on-year increase of 213.23%-307.2%.
Youyan New Materials: Net profit in the first three quarters is expected to increase by 101%-127% year-on-year
36Kr learned that Youyan New Materials announced that the net profit attributable to shareholders of the listed company in the first three quarters of 2025 is expected to be between 230 million yuan and 260 million yuan, a year-on-year increase of 101%-127%. The net profit after deducting non-recurring gains and losses is expected to be between 155 million yuan and 170 million yuan, a year-on-year increase of 62%-78%. The controlling subsidiary, Youyan Yijin, has been continuously focusing on high-value-added products. The sales revenue of target materials has increased by more than 50% year-on-year, and the net profit attributable to shareholders of the listed company has increased by more than 40 million yuan year-on-year. The controlling subsidiary, Youyan Rare Earth, is expected to achieve a net profit of between 7 million yuan and 12 million yuan in the first three quarters of 2025, turning losses into profits. In the first three quarters of 2025, the company carried out the transformation of scientific and technological achievements and transferred the relevant technology of lithium sulfide externally, realizing a transfer income of 108 million yuan.
Tilray's Q3 Earnings Report Exceeds Analysts' Expectations
During the late trading session on Thursday in the U.S. stock market, the share price of Tilray Brands soared 21.5% after the company released its Q3 earnings report, which exceeded analysts' expectations. During the reporting period, Tilray announced revenues of $209.5 million, a 4.7% increase compared to the same period last year, surpassing Wall Street's forecasts. The company has made significant progress in terms of profitability, with its operating profit margin significantly increasing to 1%, a strong reversal from the negative 18.3% in the same period last year. In addition, the adjusted earnings per share reached break - even ($0.00), an improvement from the loss of $0.04 per share in the same period last year. (Sina Finance)
Mini Survey on "Travel Trends"
As long as you're not at your work desk, anywhere will do. Have you ever suffered from "travel hunger syndrome"? This generation of young people, no matter where they are physically, always have their hearts on the road. Going to work is just to plan the next trip! Do you prefer "special forces-style travel" or "anti-rat-race slow travel"? What makes you want to visit a city? Have you ever tried to piece together a weekend trip? Is there any unforgettable highlight moment in your travels? Welcome to participate in the "2025 Young People's Travel Trends" survey and let's paint the ideal travel in our hearts together.
Scan the QR code to participate in the survey
Compiled | Chenxi