8:00 am, 1st Kr. Exclusive | The official responds to issues regarding the sealing of drug abuse records; Johnson & Johnson is ordered to pay approximately 11 billion yuan in compensation to a woman in a talcum powder carcinogenicity lawsuit; Yu Minhong finalizes the successor for Dongfang Zhenxuan.

Today's Hot Topics Guide

• Insta360 Offers a Reward of 100,000 Yuan to Expose Negative Public Relations
• After Bilibili Denies "Full Pay-to-Watch", Rumormongers Are Detained
• Lei Jun Introduces Xiaomi's Open-Source Inference Model MiMo-V2-Flash, Ranking Among the Top Two Global Open-Source Models
• The Prices of Moutai Liquor Have Risen Across the Board
• Beijing Optimizes and Adjusts Housing Purchase Restriction Policies

Top 3 Big News

Official Response to Issues Related to "Sealing of Drug - Use Records" and "Which Young Master Used Drugs?"

The revised Law on Public Security Administration Penalties will come into force on January 1, 2026. Recently, some online media and netizens have shown great concern about Article 136 of the Law on Public Security Administration Penalties and raised some questions. In response, reporters contacted the spokesperson's office of the Legislative Affairs Commission of the National People's Congress Standing Committee, hoping that the commission would provide necessary explanations for the concerns and questions reflected in online public opinion. The relevant person - in - charge of the commission made explanations and responses from the following five aspects.

I. Regarding the Deliberation of the Draft Revision of the Law on Public Security Administration Penalties and the Formation of Article 136

In August 2023, the Fifth Session of the Standing Committee of the 14th National People's Congress conducted the first deliberation on the draft revision of the Law on Public Security Administration Penalties. In June 2024, the Tenth Session of the Standing Committee of the 14th National People's Congress conducted the second deliberation on the draft revision. The draft revision was twice made public on the website of the National People's Congress to solicit public opinions. In the second - reading draft, the provisions on the sealing of public security violation records applied to minors, including all kinds of public security violations committed by minors.

In June 2025, the Sixteenth Session of the Standing Committee of the 14th National People's Congress conducted the third deliberation on the draft revision of the Law on Public Security Administration Penalties. All parties proposed that implementing the system of sealing public security violation records is conducive to reducing and avoiding the situation of "being punished once and restricted for life", and also conducive to providing certain practical experience for the future establishment of a system for sealing minor criminal records. It was recommended that this law should make clear provisions on the system of sealing public security violation records. Accordingly, referring to the expressions in Article 286 of the Criminal Procedure Law and other laws, the relevant clauses of the draft revision of the Law on Public Security Administration Penalties were modified, resulting in Article 136 of the subsequent Law on Public Security Administration Penalties.

The draft revision of the Law on Public Security Administration Penalties was adopted by a vote at the Sixteenth Session of the Standing Committee of the 14th National People's Congress on June 27, 2025, and became the current law, which came into force on January 1, 2026. According to the relevant provisions of the Legislation Law, once a draft law is adopted, it becomes a law and is promulgated and implemented in accordance with the law. From the promulgation of the revised Law on Public Security Administration Penalties on June 27, 2025, to November 27, we did not receive any different opinions on Article 136 of the Law on Public Security Administration Penalties.

II. Regarding "Which Young Master Used Drugs?"

Recently, there have been remarks raising the question of "Which young master used drugs?" in response to the sealing measures stipulated in Article 136. From a legal perspective, all citizens of the People's Republic of China are equal before the law, which is a fundamental principle established by the Constitution. In all aspects of the rule - of - law work, including national legislation, law enforcement, judicial activities, and law - abiding, no organization or individual shall have the privilege of overriding the Constitution and laws. All acts in violation of the Constitution and laws must be investigated in accordance with the law. The Constitution, the Legislation Law, relevant organic laws, relevant rules of procedure and other laws have made comprehensive and systematic provisions on legislative activities and legislative work, providing strong legal protection for legislative activities and legislative work. Legislative work is not subject to the improper influence of any special interest groups, organizations, or individuals.

III. Regarding the Meaning of Sealing Public Security Violation Records

Sealing public security violation records is a measure for controlling public security violation information, not a penalty measure. The purpose of implementing the system of sealing public security violation records is to conduct necessary control and standardization of public security violation information, and to reduce and avoid the situation of "being punished once and restricted for life" for those punished. Sealing does not mean eliminating or deleting records. The relevant violation information is still recorded, but it cannot be randomly queried, provided, or disclosed. Article 136 stipulates that the records to be sealed shall not be provided or made public to any unit or individual, and at the same time, two exceptional circumstances are stipulated: one is for the query of relevant state agencies for the needs of handling cases; the other is for the query of relevant units in accordance with national regulations. Article 136 also stipulates that units conducting queries in accordance with the law shall keep confidential the situation of the sealed violation records.

IV. Regarding the Application Relationship between the Law on Public Security Administration Penalties and the Criminal Law

All kinds of illegal acts applicable to the Law on Public Security Administration Penalties are acts that do not constitute crimes but should be subject to public security administration penalties. Article 3 of the Law on Public Security Administration Penalties makes basic provisions on this. All acts that constitute crimes shall be subject to criminal liability in accordance with the provisions of the Criminal Law. In law - enforcement and judicial activities, if an act that constitutes a crime and should be subject to criminal liability is treated as a public security violation and dealt with and punished in accordance with the Law on Public Security Administration Penalties, it is a misapplication of the law and should be corrected; conversely, it is also a misapplication of the law and should be corrected.

There are three types of situations that need attention in the application relationship between the two laws. The first type: Some acts are criminal issues, such as intentional homicide. These acts are not public security violations and should be subject to criminal liability in accordance with the Criminal Law. There is no question of applying the Law on Public Security Administration Penalties for handling. The second type: Some acts are public security violation issues, such as drug - use. These acts are not criminal issues and should be punished in accordance with the Law on Public Security Administration Penalties. There is no question of applying the Criminal Law for handling. The third type: Some acts, from the perspective of the provisions or descriptions of their behavioral characteristics, are stipulated in both the Criminal Law and the Law on Public Security Administration Penalties, such as Article 353 of the Criminal Law and Article 85 of the Law on Public Security Administration Penalties. In such cases, it should first be determined whether the act constitutes a crime. All acts that constitute crimes shall be subject to criminal liability in accordance with the Criminal Law; only when the act does not constitute a crime shall it be punished in accordance with the Law on Public Security Administration Penalties.

V. Regarding "Sealing of Drug - Use Records"

In accordance with China's legal system, drug - use is an illegal act, not a criminal act. The scope of application of the measures for sealing public security violation records stipulated in Article 136 of the Law on Public Security Administration Penalties includes drug - use. Some opinions have raised the issue of "sealing of drug - use records" and expressed concerns and misunderstandings. The following points are explained.

First, the state punishes drug - related crimes in accordance with the Criminal Law. Section 7, Chapter VI of the Criminal Law makes clear provisions on drug - related criminal acts and penalties, with a total of 12 charges. Among them, the "crime of smuggling, trafficking, transporting, and manufacturing drugs" stipulated in Article 347 has a maximum legal penalty of death. The state's attitude, measures, and systems for punishing and combating drug - related crimes have not changed at all, and the anti - drug work has not slackened. China is one of the countries in the world that punishes drug - related crimes most severely.

Second, the basic countermeasure and key work for the state to address the issue of drug - use is to strengthen drug - rehabilitation measures. According to China's legal system, drug - use is not a criminal act but a public security violation that should be subject to public security administration penalties. However, further consideration shows that if drug - users cannot be prompted to quit drugs, no matter what kind of punishment is imposed on them, the actual significance and effect are limited. The key to addressing the issue of drug - use lies in drug - rehabilitation, and the difficulty also lies in drug - rehabilitation. China has always attached importance to drug - rehabilitation work and established a strong and effective drug - rehabilitation system and relevant working mechanisms. In December 2007, the National People's Congress Standing Committee formulated the Anti - Drug Law, which made clear provisions on drug - rehabilitation measures; in June 2011, the State Council formulated the Regulations on Drug Rehabilitation, which made further provisions on drug - rehabilitation measures; there are also relevant provisions on drug - rehabilitation in some other laws and administrative regulations. Article 6 of the Anti - Drug Law stipulates that "People's governments at or above the county level shall incorporate anti - drug work into the national economic and social development plan and include anti - drug funds in the fiscal budget at the corresponding level." China's drug - rehabilitation measures are divided into voluntary drug - rehabilitation, community - based drug - rehabilitation (three years), compulsory isolation drug - rehabilitation (two years, which can be extended by one more year), and community - based rehabilitation (three years). The state takes various measures to help drug - users quit drugs, educate and save them. Voluntary drug - rehabilitation is encouraged. For drug - users who voluntarily accept drug - rehabilitation treatment, the public security organs will not punish them for their previous drug - use. Once drug - users are discovered, the relevant authorities shall register them in accordance with the law, include them in the scope of drug - rehabilitation work, take drug - rehabilitation measures, conduct regular tests, provide drug - rehabilitation treatment, and implement dynamic management and control of drug - rehabilitated persons. For those who have abstained from drugs for three years without relapse, dynamic management and control will no longer be implemented.

Third, the state has always exercised control over the information of drug - users and drug - rehabilitated persons. Paragraph 2 of Article 7 of the Regulations on Drug Rehabilitation stipulates that "The personal information of drug - rehabilitated persons shall be kept confidential in accordance with the law." Article 43 stipulates that "If staff members of relevant departments such as public security, judicial administration, and health administration disclose the personal information of drug - rehabilitated persons, they shall be given sanctions in accordance with the law; if a crime is constituted, criminal liability shall be investigated in accordance with the law." Articles 52 and 70 of the Anti - Drug Law and Paragraph 1 of Article 7 of the Regulations on Drug Rehabilitation stipulate that drug - rehabilitated persons shall not be discriminated against in terms of enrollment, employment, and social security, and relevant parties are required to provide necessary guidance and assistance. Therefore, the relevant information of drug - users and drug - rehabilitated persons has always been under control and kept confidential. It does not belong to the category of government - disclosed information. Relevant authorities and units cannot disclose it at will, and only specific personnel can know and query such information. Even non - personalized information in the field of anti - drug work is subject to control and cannot be publicly released or provided without permission. When the media reports and promotes drug - rehabilitation work, it needs to depersonalize the content related to drug - users and drug - rehabilitated persons. The measures for sealing public security violation records stipulated in Article 136 of the Law on Public Security Administration Penalties, which apply to drug - use, actually do not change China's long - standing practices in controlling drug - use and drug - rehabilitation information. There is no substantial change in the management and control of the information of drug - users and drug - rehabilitated persons before and after the implementation of the sealing measures. The two exceptional circumstances stipulated in the proviso part of Article 136 of the Law on Public Security Administration Penalties are an improvement of the current relevant information - control measures.

Finally, we take this opportunity to thank the media, netizens, and all sectors of society for their concern and support for the country's rule - of - law construction and legislative work! (People's Daily)

Johnson & Johnson Ordered to Pay About $11 Billion to Woman in Talcum Powder Cancer Case

According to reports, on December 22 local time, a jury in Maryland, the United States, made a ruling: Johnson & Johnson needs to pay $1.56 billion (approximately 11 billion yuan) in compensation to a woman who developed cancer after using its baby talcum powder. This amount sets a new record for the highest compensation awarded to a single plaintiff in Johnson & Johnson's talcum powder cancer lawsuits over the past 15 years. The plaintiff alleged that the asbestos in Johnson & Johnson's baby talcum powder caused her to develop mesothelioma - a rare cancer typically directly associated with long - term asbestos exposure. After the trial, the jury found that Johnson & Johnson was responsible for failing to warn the plaintiff that its baby talcum powder contained asbestos. In response to the record - breaking compensation ruling, Johnson & Johnson clearly stated on December 23 that it would immediately initiate an appeal process. (CCTV Finance)

Officially Confirmed: Yu Minhong Has Chosen a Successor for Dongfang Zhenxuan

On December 24, Dongfang Zhenxuan confirmed that Yu Minhong has selected a successor for Dongfang Zhenxuan, and Sun Jin, the vice president of New Oriental Education & Technology Group, will serve as the executive president of Dongfang Zhenxuan. (Yicai Global)

Large Companies/ Major Events

Insta360 Offers a Reward of 100,000 Yuan for Information on Negative Public Relations, Fixes Over 2,000 Rumors and Gets a Formal Case Filing

Recently, Insta360 stated that within two weeks after the launch of its first panoramic drone, the "InstaFly Antigravity A1", more than 2,500 malicious and false attack messages emerged on the Internet. In response to this behavior, Insta360's legal department launched a network-wide reward program, publicly soliciting relevant clues. If the clues are adopted by the public security organs, a maximum reward of 100,000 yuan will be given.

It is reported that after the launch of the solicitation, Insta360 received a large number of reports from netizens. On December 23, Insta360's legal department publicly posted evidence of multiple "negative public relations" clues on social platforms. A crowdsourcing promotion platform clearly indicated the recruitment of "product negative review content promotion", and the highest payment for publishing a relevant content reached 2,000 yuan. Insta360's legal department said that the company has currently completed the fixation of relevant evidence and has obtained a formal case filing after reporting the case to the public security organs. (21st Century Business Herald)

After Bilibili Denied "Full Pay-to-Watch", the Rumormonger Was Detained

For spreading the false information that "all videos on Bilibili will require membership to watch next year", the police quickly arrested the relevant rumormonger and gave an administrative detention in accordance with the law. Bilibili stated that it will reserve the right to further prosecute the illegal actor. On December 11th, due to the relevant rumor, "Bilibili" quickly topped the hot searches on various social media platforms. Bilibili then responded that "it is false information and will hold the rumor - maker legally accountable" and chose to call the police. (Yicai Global)

Lei Jun Introduces Xiaomi's Open-Source Inference Model MiMo-V2-Flash, Ranking among the Top Two Global Open-Source Models

On the morning of the 24th, Lei Jun, the founder, chairman, and CEO of Xiaomi, cited an article from @Xiaomi Technology on Weibo to introduce Xiaomi's self-developed open-source model. Lei Jun said, "MiMo-V2-Flash is a MoE model with a total of 309B parameters (15B activated) self-developed by Xiaomi for ultimate inference efficiency. By introducing the innovation of the Hybrid attention architecture and multi-layer MTP inference acceleration, it ranks among the top two global open-source models in multiple Agent evaluation benchmarks." (Sina Tech)

Jiang Yuchen of OPPO: Currently in deep cooperation with Alipay, and the cooperation with another important partner will be officially announced in January

36Kr learned that recently, regarding the market rumor that OPPO has rejected the cooperation with ByteDance on the "Doubao AI phone", Jiang Yuchen, the R & D director of OPPO ColorOS smart products, clearly denied the statement of "rejecting cooperation" and emphasized that OPPO is open to any cooperation, and the core of evaluation lies only in "suitable cooperation opportunities". She also revealed that the company is currently in deep cooperation with Alipay and plans to officially announce the strategic cooperation with another important partner in January next year.

JD.com: Qixian Xiaochu Has Opened 30 Stores in Beijing

36Kr learned that on December 24th, according to a post on JD.com's official bulletin board, Qixian Xiaochu, a catering platform under JD.com, has opened 30 stores in Beijing within four months after opening its first store this year, basically achieving full coverage of major urban areas within the Fifth Ring Road.

Youbang Ceiling: The actual controller is planning a change in control rights, and the stock is suspended

36Kr learned that Youbang Ceiling announced that the company received a notice from its actual controllers, Luo Lianqin and Shi Shenxiang, on December 23, stating that they are planning matters related to the change of the company's control rights, which may lead to changes in the company's controlling shareholder and actual controller. Currently, all parties are conducting demonstrations and consultations on relevant matters such as the specific transaction plan and agreement. The company's stock will be suspended from trading starting from the opening of the market on December 24, and the suspension is expected to last no more than 2 trading days.

Reports say iPhone 18 Pro may add new color options, namely brown, purple, and burgundy

On December 24th, it was reported that starting from the iPhone 18 series, Apple will make a major strategic adjustment: breaking the long - standing tradition of releasing new products uniformly in the fall and switching to a strategy of launching iPhones twice a year. Specifically, three high - profile models will be launched in the fall of 2026: the iPhone 18 Pro, the iPhone 18 Pro Max, and the highly anticipated foldable iPhone, while the base models, the iPhone 18 and iPhone 18e, are scheduled to hit the market in the spring of 2027. As one of Apple's key products, the iPhone 18 Pro series has attracted much attention. Reports suggest that Apple is considering three new color options, namely brown, purple, and burgundy. (Kuaikeji)

Beijing Optimizes and Adjusts Housing Purchase Restriction Policies: Relaxing Conditions for Non-Beijing Household Families and Supporting Housing Needs of Multi-Child Families

36Kr learned that four departments, including the Beijing Municipal Commission of Housing and Urban-Rural Development, the Beijing Municipal Development and Reform Commission, the Beijing Branch of the People's Bank of China, and the Beijing Housing Provident Fund Management Center, jointly issued the "Notice on Further Optimizing and Adjusting Relevant Real Estate Policies in the City." The "Notice" clarifies that to better meet the rigid housing needs and diverse improvement housing needs of residents, the housing purchase restriction policies will be further optimized and adjusted. First, the conditions for non-Beijing household families to purchase homes will be relaxed. The social insurance or individual income tax payment period for non-Beijing household families to purchase commercial housing within the Fifth Ring Road will be reduced from the current "3 years" to "2 years"; for those purchasing commercial housing outside the Fifth Ring Road, it will be reduced from the current "2 years" to "1 year". Second, the housing needs of multi-child families will be supported. Multi-child families with two or more children can purchase an additional set of commercial housing within the Fifth Ring Road. That is, Beijing household multi-child families can purchase 3 sets of commercial housing within the Fifth Ring Road; non-Beijing household multi-child families that have continuously paid social insurance or individual income tax in Beijing for 2 years can purchase 2 sets of commercial housing within the Fifth Ring Road.

The prices of Moutai have risen across the board. The wholesale price of the 25-year-old Feitian Moutai in original cases is reported to be 1,600 yuan per bottle.

36Kr learned that the latest wholesale reference prices disclosed by "Today's Wine Prices" show that on December 24th, the price of the 25-year-old Feitian Moutai in original cases was reported at 1,600 yuan per bottle, a rise of 40 yuan compared to the previous day; the price of single bottles of the 25-year-old Feitian Moutai was reported at 1,590 yuan per bottle, also a rise of 40 yuan compared to the previous day. The price of the 24-year-old Feitian Moutai in original cases was reported at 1,630 yuan per bottle, a rise of 30 yuan compared to the previous day; the price of single bottles of the 24-year-old Feitian Moutai was reported at 1,615 yuan per bottle, a rise of 35 yuan compared to the previous day.

WeChat Official Accounts Launches Paid Promotion Feature to Increase Followers through Paid Ad Placement

According to a report on December 24, WeChat Official Accounts has officially launched the "Paid Promotion" feature. Creators can access the "Paid Promotion" module in the official account backend and select published content for promotion. Specifically, the "Paid Promotion" feature allows users to choose to increase the number of views or gain new followers. This feature requires payment, which can be made by purchasing WeChat beans. For example, with 500 WeChat beans, users can choose to increase views by 125 - 500 people. 1 yuan can buy 10 WeChat beans. Based on this calculation, it costs approximately 0.1 - 0.4 yuan to gain one additional view. (IT Home)

Great Wall Motor's Wei Jianjun Responds to Frequent Leadership Changes at WEY Brand

On December 22nd, Wei Jianjun, the chairman of Great Wall Motor, publicly responded for the first time to the frequent leadership changes at the WEY brand during an exchange with the media. That day was the first public appearance of Zhao Yongpo, the general manager of the Haval brand, after officially taking over as the CEO of the WEY brand. Wei Jianjun said that every Chinese automobile brand has a dream of high - end development. He frankly stated, "It's not that we dismissed them. They felt the pressure was extremely high themselves." Building a successful brand requires a very comprehensive set of capabilities from the CEO. However, in the past, the Chinese automobile industry has emphasized "sales" over "marketing", and brand management still poses a challenge to this day. Regarding the frequent leadership changes, Wei Jianjun said that operating an automobile brand involves the entire chain of R & D, production, supply, sales, and service, and the system is highly complex. Like many new Chinese brands, the WEY brand is still in the exploratory stage of high - end development. There has not yet been a truly successful precedent among Chinese automobile brands, and it will move forward through twists and turns. (International Financial News)

Aldi to Expand to 100 Stores in China Next Year

On December 24th, it was learned from Aldi, a German budget supermarket brand, that the number of its stores in the Chinese market will reach 100 in the first quarter of next year. Currently, Aldi has more than 80 stores in China, mostly directly - operated stores. It opened about 30 new stores in 2025, and its development will speed up in 2026, with an expected larger number of new store openings. Currently, about 90% of Aldi's products are private - label goods. (Yicai Global)

Japan's Largest Nuclear Power Plant to Restart on January 20 Next Year

On the 24th local time, Tomoaki Kobayakawa, the president of Tokyo Electric Power Company (TEPCO) in Japan, said that the No. 6 reactor unit of the Kashiwazaki-Kariwa Nuclear Power Plant will restart on January 20 next year. This will be the first nuclear power unit under TEPCO to restart since the Fukushima Daiichi Nuclear Power Plant accident triggered by the "3·11" Great East Japan Earthquake in 2011. On the same day, TEPCO submitted an application for "pre - use confirmation" of the No. 6 unit of the Kashiwazaki - Kariwa Nuclear Power Plant to the Nuclear Regulation Authority of Japan, which is the last step in the equipment inspection. (CCTV News)

Italian Competition Regulator Takes Temporary Measures Against Meta

The Italian Competition and Market Authority (AGCM) announced on December 24 that the scope of the investigation into Meta was expanded in November, with a new review of the terms of WhatsApp's business solutions. The case began in July this year, aiming to investigate whether the company abused its dominant market position in the process of integrating Meta AI services into WhatsApp - the service gets higher display priority on the platform than competing services. The Italian Competition and Market Authority has imposed temporary measures on Meta, WhatsApp, and Facebook. (Jiemian News)

Samsung and SK Hynix Raise Prices of HBM3E for Next Year by Nearly 20%

According to South Korean media reports, memory suppliers such as Samsung Electronics and SK Hynix have raised the prices of HBM3E for next year, with an increase of nearly 20%. Generally, before the launch of a new generation of HBM products, suppliers tend to lower the prices of the previous generation products. Therefore, this price increase is quite rare in the industry. (Caixin Press)

Apple Reaches Settlement with Brazilian Antitrust Authority, to Open Third-Party App Stores

The Administrative Council for Economic Defense (CADE), the Brazilian antitrust regulator, issued a statement on December 23, stating that it had approved Apple's proposed Termination Commitment Clause (TCC) by a majority vote. This agreement is part of an administrative investigation into possible anti-competitive practices by Apple in the iOS digital ecosystem in Brazil. Under the agreement, Apple will allow app developers to promote external offers, including guiding users to conduct transactions outside the app. In addition, Apple will also allow developers to provide other purchase methods within the app. Apple said on the same day that it had reached a settlement with CADE and agreed to allow third-party app stores to operate on the iOS system in Brazil to end the three-year-long antitrust investigation. (Jiemian News)

Hyundai Motor America Recalls Over 50,000 Vehicles Due to Safety Risks

According to a notice issued by the National Highway Traffic Safety Administration (NHTSA), Hyundai Motor America has submitted a recall application involving 51,587 vehicles sold in the U.S. market. The main reasons for this recall are two safety risks in the vehicles: Firstly, the trailer lights may not work properly, which increases the risk of collision accidents while the vehicle is in motion. Secondly, there is a risk of short - circuit in the relevant circuits, which may increase the risk of vehicle fires. (Caixin)

Li Auto Merges the First and Second Product Lines, Managed by Vice President Tang Jing

Media reports indicate that Zhang Xiao, the person in charge of Li Auto's first product line, will leave the company. It is understood that this departure is not involuntary but a voluntary one, having nothing to do with Li Auto's business itself. Multiple insiders said that after Zhang Xiao leaves, he may participate in entrepreneurship. After Zhang Xiao's departure, the second product line he managed will be merged with the first product line, and it will be managed by Tang Jing, the former president of the first product line. (21st Century Business Herald)

US Investigates Emergency Door Release of Tesla Model 3, Tesla Yet to Comment

The US auto safety regulator said on December 24 that it has launched a defect investigation into Tesla's Model 3 compact sedan due to concerns that the emergency door release controls may not be easily accessible or clearly identifiable in an emergency. The Office of Defects Investigation said the investigation involves about 179,071 vehicles from the 2022 model year. The agency received a defect petition on December 23 stating that the vehicle's mechanical door release device is hidden and unmarked, making it difficult to find intuitively in an emergency. Tesla did not immediately respond to a request for comment. (Sina Finance)

Avita Responds to Controversy over Antarctic Journey: Avita 12 to Undergo 16-Month Tests in the Polar Region

On December 24, Avita posted on social media, stating that "its model, the Avita 12, will spend 16 months in Antarctica, undergoing vehicle tests and technological verifications under different seasonal and environmental changes in the polar region," thus clarifying the discussions triggered by earlier related topics.

Previously, on December 8, Avita announced that the Avita 12 had arrived in Antarctica to commence a scientific research journey. In its promotion, Avita used expressions such as "the world's first new - energy sedan to land in Antarctica" and "facing extreme cold of - 50°C," which sparked public attention and discussions regarding the actual testing environment and seasonal conditions of the vehicle. Public information shows that the climate in the Antarctic region is extreme, being cold throughout the year, but there are also obvious seasonal differences. From December to February of the following year is the local summer. During this period, the temperatures in the coastal areas of the Antarctic continent and near scientific research stations are relatively high. Taking China's Zhongshan Station in Antarctica as an example, the daytime temperature in summer can reach 5°C, with the highest temperature reaching 9.6°C. This temperature level is similar to that of winter in some northern regions of China and is even higher than the extremely cold weather in Northeast China and Inner Mongolia during the same period.

Recently, relevant responsible personnel from Avita told the media that "due to the arrangement of the scientific research mission, the arrival time coincided with the Antarctic summer, but the vehicle will not return in the short term." The Avita 12 will stay in Antarctica with the Chinese polar scientific research team until April 2027, starting an adaptability test lasting more than 16 months, during which it will experience different seasonal and environmental changes in the polar region. Avita said that it understands the public's concern about information transparency and admitted that the previous external promotion did not fully explain the test duration arrangement, "which may have led to some misunderstandings." (Jiemian News)

Changan Automobile Statement: The Allegations of Potential State - owned Asset Losses in the Auction of Scrap Light Rails are False Information

36Kr learned that the False Information Reporting Center of Changan Automobile issued a statement saying that recently, Changan Automobile noticed information on the Internet such as "The auction of scrap light rails by Chongqing Changan Automobile may have led to the loss of tens of millions of state - owned assets." After investigation and verification, this content is false information. The above - mentioned dissemination has had a serious negative impact on the company's brand reputation and normal business operations. In response to acts of spreading false rumors, slandering, and defaming the company, the company will safeguard its legitimate rights and interests through legal means.

Fat Donglai's new store sells signed jerseys, with the most expensive jersey priced at 138,000 yuan

On December 23rd, the Sanpang store of Fat Donglai in Xinxiang officially started its trial operation, attracting a large number of citizens to visit. On social platforms, many customers posted that a new counter had been set up on the third floor of the store, which contained autographed jerseys of many famous football and basketball players such as Messi, Mbappé, and Curry.

On the afternoon of the 24th, a reporter from Jimu News contacted the staff of the Sanpang store of Fat Donglai. The staff said that these jerseys were all for sale, with prices ranging from several thousand yuan to tens of thousands of yuan. Some jerseys had been sold on the opening day, and it was not clear yet whether signed jerseys of other players would be added later. (Jimu News)

Apple CEO Tim Cook Spent Approximately $2.95 Million to Buy 50,000 Shares of Nike Stock

Documents filed by Nike with the U.S. Securities and Exchange Commission (SEC) on December 23 local time showed that Tim Cook, the CEO of Apple, spent approximately $2.95 million to buy 50,000 shares of Nike stock on the 22nd. After the transaction, Cook holds 105,480 shares of Nike. (Jiemian News)

Pfizer Responds to Patient Death Related to Its Hemophilia Drug

On December 23 local time, Pfizer said that a patient participating in a long - term study of its hemophilia drug died after experiencing serious side effects. Pfizer's stock price closed down more than 1% that day. According to the European Hemophilia Consortium, a patient support organization, the patient died of intracerebral hemorrhage after a stroke on December 14. The long - term study the patient participated in involved Pfizer's long - acting hemophilia coagulation factor therapy, Hympavzi. The drug is injected once a week and was approved in the United States last year for the treatment of patients aged 12 and above with hemophilia A or B. It prevents or reduces bleeding by targeting coagulation proteins. In response to the patient's death, Pfizer said in a statement: "Pfizer, together with the trial investigators and an independent external data monitoring committee, is actively collecting information to better understand the complex, multi - factor situation surrounding this event." (Yicai Global)

The three major U.S. stock indexes closed higher collectively, with both the S&P 500 Index and the Dow Jones Industrial Average hitting record closing highs

36Kr learned that at the close on December 24, the three major U.S. stock indexes rose collectively, recording five consecutive daily gains. The Dow Jones Industrial Average rose 0.6%, the S&P 500 Index rose 0.32%, and the Nasdaq Composite Index rose 0.22%. Among them, both the S&P 500 Index and the Dow Jones Industrial Average hit record closing highs. Large technology stocks showed mixed performance. Apple, Microsoft, Netflix, Amazon, and Meta rose slightly; Google, Nvidia, Tesla, and Intel fell slightly. Popular Chinese concept stocks also showed mixed performance. Zhihu rose more than 2%, Pinduoduo rose more than 1%, and JD.com, Li Auto, and NIO rose slightly; iQiyi fell more than 1%, and Alibaba, Baidu, Bilibili, and XPeng Motors fell slightly.

Going Public

Hangzhou DeepCloud AI Technology Co., Ltd.

36Kr learned from the official website of the China Securities Regulatory Commission that Hangzhou DeepCloud AI Technology Co., Ltd. officially launched its listing counseling on December 23, 2025, with CSC Financial Co., Ltd. serving as the counseling institution.

Sifang Jicheng

36Kr learned that according to documents from the Hong Kong Stock Exchange, Shenzhen Sifang Jicheng Information Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are China Merchants Bank International and Guosen Securities (Hong Kong).

Youlesai

36Kr learned that according to documents from the Hong Kong Stock Exchange, Suzhou Youlesai Shared Services Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CSC International as the sole sponsor.

Yucheng Technologies

36Kr learned that according to documents from the Hong Kong Stock Exchange, Beijing Yucheng Technologies Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are Huatai International and BNP Paribas.

The Cutting - Edge of AI

ByteDance Launches Specialized Model Seed Prover 1.5 for Formal Mathematical Reasoning

36Kr learned that the Seed team at ByteDance announced the launch of the specialized model Seed Prover 1.5 for formal mathematical reasoning. According to the introduction, compared with the previous - generation model, within 16.5 hours, Seed Prover 1.5 generated fully compilable and verifiable Lean proof codes for the first five questions of IMO 2025. Converting to a score, it was 35/42, reaching the gold - medal cut - off line of the previous IMO scoring criteria. The technical report of Seed Prover 1.5 has been made public, and the API will be opened later to invite interested mathematics and AI researchers to experience the model.

Alibaba Upgrades New-Generation Speech Model Qwen3-TTS, Capable of Generating Anthropomorphic Voices Based on Text and Sounds

36Kr learned that on December 24th, Alibaba upgraded its speech model family Qwen3-TTS and released two new models: Qwen3-TTS-VD (VoiceDesign) for timbre creation and Qwen3-TTS-VC (VoiceClone) for timbre cloning. The new Qwen3-TTS model can achieve DIY voice design and pixel-level timbre imitation. It can even enable animals to "natively" speak human languages. With natural timbre, stable effects, and high generation efficiency, it can accelerate the implementation of large speech models in multiple professional fields such as audiobooks, AI comic dramas, and film and television dubbing.

Yuanfudao's Quality Education Courses Unveil the New - Generation "AI Classroom 2.0"

36Kr learned that on December 24th, Yuanfudao's quality education courses officially launched the new - generation "AI Classroom 2.0". Sun Xiaoyan, the person - in - charge of Yuanfudao's quality education courses, said that with the empowerment of AI, students' learning efficiency has increased by 20%, the retention rate has increased by 10%, and the satisfaction rate has increased by 37%.

Doubao's DAU Exceeds 100 Million, Becoming the Product with the Lowest Promotion Cost in ByteDance's History to Reach This Milestone

36Kr exclusively learned that the daily active users (DAU) of Doubao have exceeded the 100 million mark, adding another product with a DAU of over 100 million to ByteDance's APP kingdom. After multiple verifications by 36Kr, this data is confirmed to be true. According to insiders at ByteDance, the user - generated content (UG) and marketing promotion costs of Doubao are the lowest among all products in ByteDance's history that have reached a DAU of over 100 million.

Investment and Financing

"Yisu Innovation" Completes Hundreds of Millions of Yuan in Pre-A Round Financing

36Kr learned from Tongchuang Weiye that recently, "Yisu Innovation", a technology company focusing on desktop laser processing equipment, announced the completion of hundreds of millions of yuan in Pre-A round financing. This round of financing was jointly participated in by Tongchuang Weiye, Yuantai Fund, and Xieli Capital. This capital will be mainly used for core technology iteration, product line expansion, and global market layout to accelerate the upgrade of consumer-grade laser equipment towards high precision, multi-scenario, and intelligence.

Compiled | Bursting Tofu