At 8 a.m., Here's the Latest News | Elon Musk's net worth has shrunk by over $100 billion; Nezha Auto's total liabilities are approaching 10 billion yuan; The price of gold jewelry has soared to 923 yuan.
Top 3 Big News
Elon Musk's net worth has shrunk by over $100 billion, and Tesla's stock price has plunged by over 50% in three months
It is reported that as of March 17 this year, Tesla's stock price has fallen by more than 50% since its high - closing on December 17 last year, and its market value has evaporated by more than $700 billion, causing its CEO Elon Musk's net worth to shrink by more than $100 billion. In the past three months, hedge funds have earned $16.2 billion (approximately 117.1 billion yuan) by short - selling Tesla's stocks. The Financial Times said that Musk's public interference in European politics has, to some extent, led to a decline in Tesla's electric vehicle sales in Europe. In addition, his leadership of the "Government Efficiency Department" in the United States to promote large - scale layoffs and cost - cutting in the federal government has triggered protests against Tesla in many parts of the United States. (CCTV Finance)
Nezha Auto's total liabilities are close to 10 billion yuan, hoping to reduce debt through debt - to - equity swap
On the afternoon of March 19th, Nezha Auto, which was deeply involved in the rumor of "dissolving the R & D team", held a communication meeting themed "debt resolution" with some suppliers at its Shanghai Putuo office headquarters. Reporters on the scene learned that Nezha Auto proposed to reduce its debt through a "debt - to - equity swap" to facilitate the smooth progress of new financing. At the scene, a Nezha executive denied the rumor of "dissolving the R & D team" to the 21st Century Business Herald reporter. When being interviewed by reporters at the meeting, the executive said that this meeting was for Nezha and suppliers to discuss self - rescue plans. "We are all in this together to get through the difficult times. It's not an adversarial relationship here. If Nezha goes bankrupt, it's all over, and no one will get anything. The same goes for us. Our salaries are in arrears. We hope the company can recover and move forward."
Some media reported that Nezha Auto plans to convert 70% of the suppliers' claims against it into equity at the parent company, Hozon Auto, and the remaining 30% of the claims will be settled in installments in cash as interest - free retained debt. Before the Spring Festival, Hozon New Energy, the parent company of Nezha Auto, held a shareholder communication meeting to discuss the ongoing Series E financing plan. The planned financing scale for this round is about 4 billion - 4.5 billion yuan, and the leading investor will invest about 3 billion yuan. At this communication meeting, Nezha Auto introduced the latest progress of this round of financing to the suppliers. "The prerequisite for providing this 4 billion yuan is debt resolution. Because Hozon currently has too much debt, if all this (investment) is used to pay off debts, it will be a waste. So this is a requirement put forward by the investors." Reporters exclusively learned that currently, the total amount Nezha Auto owes to suppliers accounts for nearly two - thirds of its total liabilities, and the total liabilities are close to 10 billion yuan. Due to the high level of debt, potential investors that Nezha has contacted hope that Nezha can reduce its liabilities before they are willing to make their investments. (21st Century Business Herald)
Gold Jewelry Prices Soar to 923 Yuan
On March 20th, the spot gold price continued to rise, breaking through $3,050 per ounce and hitting a new all - time high. The price of domestic gold jewelry has been increased. The marked price of pure gold jewelry at Chow Sang Sang is 923 yuan per gram, up 7 yuan per gram from 916 yuan per gram the previous day and up 13 yuan from 910 yuan per gram two days ago. (Caixin Press)
Large Companies/ Major Events
The monthly active accounts of WeChat and QQ differ by over 800 million
On March 19th, Tencent released its fourth - quarter financial report and the full - year financial report for 2024. The financial report shows that the monthly active accounts of WeChat and WECHAT reached 1.385 billion; the number of paid members for paid value - added services was 260 million. Meanwhile, the monthly active accounts of QQ reached 524 million. The difference in monthly active accounts between QQ and WeChat is 860 million. (Caixin Technology)
Ministry of Commerce: Nearly 42.2 million people have applied for subsidies to purchase new digital products, driving sales of 66.95 billion yuan
It is learned from the Ministry of Commerce that since the release of the "Implementation Plan for Subsidies to Purchase New Mobile Phones, Tablets, Smart Watches (Wristbands)" on January 15, the subsidy policy has been quickly implemented. Overall, it has a good start, is implemented smoothly, and has achieved remarkable results. According to the monitoring of the data platform of the national household appliance trade - in and the qualification verification system for subsidies to purchase new digital products such as mobile phones of the Ministry of Commerce, as of March 18, 42.193 million consumers have applied for subsidies to purchase 52.251 million pieces of new digital products such as mobile phones. A total of 22.546 million pieces have been purchased, with sales reaching 66.95 billion yuan. As of now, the online and offline sales of mobile phones account for 33% and 67% respectively. (Securities Times)
Yunnan's Coffee Exports Soar by 358% in 2024
Yunnan has developed into the province with the largest coffee planting scale in China, and its coffee exports are also growing rapidly. According to statistics from the Kunming Customs, in 2024, Yunnan exported 32,500 tons of coffee, a year-on-year increase of 358%. The coffee was mainly exported to 29 countries and regions, including the Netherlands, Germany, the United States, and Vietnam. (Xinhua News Agency)
China Achieves Satellite-Ground Quantum Communication over Ten Thousand Kilometers for the First Time
Reporters learned from the University of Science and Technology of China on March 20 that Pan Jianwei, Peng Chengzhi, Liao Shengkai, etc. from the university collaborated with multiple domestic and international scientific research teams. They achieved real-time satellite-ground quantum key distribution between a quantum micro-nano satellite and a miniaturized, movable ground station for the first time in the world. During a single satellite pass, they shared up to 1 million bits of secure keys, and established a quantum key between China and South Africa over a distance of more than 12,900 kilometers. They completed the "one-time pad" encryption and transmission of image data, paving the way for the practical satellite quantum communication network. (Xinhua News Agency)
Enlight Media: The cumulative box office revenue of "Ne Zha 2" in the Chinese mainland is approximately 14.891 billion yuan
36Kr learned that Enlight Media stated on the interactive platform that as of March 19, 2025, the cumulative box office revenue (including service fees) of the movie "Ne Zha: Reborn as a Demon" (abbreviated as "Ne Zha 2") in the Chinese mainland is approximately 14.891 billion yuan.
The number of full-time delivery riders on JD Food Delivery has exceeded 10,000, and the platform bears the full cost of the riders' social insurance and housing fund contributions
36Kr learned that JD Food Delivery announced that it has currently signed formal labor contracts with over 10,000 full-time delivery riders and is gradually implementing the payment of social insurance and housing funds. All costs for full-time delivery riders' social insurance and housing fund contributions, including the portion that individuals are required to pay, are fully borne by JD. This ensures that the riders' cash income will never decrease due to the payment of social insurance and housing funds. This initiative covers both existing riders and newly joined riders.
Core Data Disclosure of Dongfang Zhenxuan's Self - operated Products: Over 210 million orders sold across the network, and the number of paid members on the App exceeded 250,000
36Kr learned that on March 20th, Dongfang Zhenxuan held its 2025 self - operated new product launch event in Beijing, disclosing relevant data on its self - operated products and App selection members to the outside world. According to Dong Zheng, the product spokesperson of Dongfang Zhenxuan, currently, Dongfang Zhenxuan has over 400 self - operated products on sale. The cumulative sales volume across the network has exceeded 210 million orders, and the total number of customers has reached 30.86 million. Currently, the number of paid members on the Dongfang Zhenxuan App has exceeded 250,000, and the overall customer satisfaction rate has reached 99.3%.
Does "Qianhe 0" Not Equal "Zero-Additive"? Qianhe Flavor Industry Responds
Early in the morning on March 21st, Qianhe Flavor Industry released a communication statement for consumers regarding the media reports about the detection of "cadmium" in its soy sauce products and the situation related to zero-additive. Regarding the detection of "cadmium" in soy sauce, the statement said that the ingredients of Qianhe Yuzang Benniang 380 Days soy sauce mentioned in the media reports are water, non-genetically modified soybeans, wheat, and edible salt, without any external addition of food additives or other chemical agents. "Cadmium" exists in water, soil, and various agricultural products. The trace amount of "cadmium" detected in soy sauce products comes from the raw materials. According to GB2762 "National Food Safety Standard - Limits of Contaminants in Foods", the limits of "cadmium" in the main raw materials of soy sauce are as follows: soybeans ≤ 0.2mg/kg, wheat ≤ 0.1mg/kg, and edible salt ≤ 0.5mg/kg. The raw materials used by our company all meet the requirements of national standards. Regarding the relationship between the trademark and zero-additive, Qianhe Flavor Industry stated in the statement that there is no behavior of riding on the hot topic and confusing the concept of zero-additive in this series of products. The original intention of setting up this trademark is to distinguish zero-additive products, which is convenient for consumers to choose, and there is no behavior of misleading consumers. (Jiemian News)
Beijing's pharmaceutical and health industry scale exceeds one trillion yuan for the first time, and it will continue to develop emerging fields such as brain-computer interfaces
It is learned from the Beijing Municipal Science and Technology Commission and the Zhongguancun Administrative Committee that in 2024, the overall scale of Beijing's pharmaceutical and health industry reached 1.06 trillion yuan, a year-on-year increase of 8.7%. Beijing has become the first city in the country whose pharmaceutical and health industry scale exceeds one trillion yuan. It is understood that since 2018, Beijing has successively implemented three rounds of the "Action Plan" to accelerate the collaborative innovation of the pharmaceutical and health industry. This breakthrough is the result of long-term efforts. In the future, Beijing will further promote the third round of the "Action Plan", accelerate the output of innovative drug and medical device achievements, improve the level of innovation and the linkage and coordination among the medical service, medical insurance, and pharmaceutical sectors, study and introduce a new round of reform policies, strengthen the introduction and cultivation of innovative enterprises, continue to make efforts in emerging fields such as cell and gene therapy and brain-computer interfaces, promote the "new" development of the pharmaceutical and health industry, and consolidate its competitive advantages. (CCTV News)
HK Securities and Futures Commission Responds to Rumors of Limiting IPO Subscription Financing Ratio
It is reported that the Hong Kong Securities and Futures Commission (SFC) is considering limiting the financing ratio for IPO subscription. In response, the SFC stated that it would not comment on market rumors. Currently, the SFC has completed thematic reviews of eight brokerage firms to assess whether they comply with prudent risk management standards. It is reported that the relevant assessment results and further regulatory guidelines will be announced in the near future. Previously, some Hong Kong brokerage firms provided clients with up to 200 - fold financing for new - share subscriptions, which raised concerns among regulatory authorities about potential risks. (Shanghai Securities News)
Shanghai to Launch Its First Direct Passenger Flight to Central Asian Countries in May
On May 29th, the first direct passenger flight from Shanghai to a Central Asian country (Shanghai Pudong - Shymkent, Kazakhstan) is about to be launched. The flight is scheduled to operate 2 times a week. It will depart from Shanghai Pudong International Airport at 02:00 on Tuesdays and 05:50 on Fridays (Beijing Time) and arrive at Shymkent International Airport at 06:00 on Tuesdays and 10:00 on Fridays (local time). The return flights will take off from Shymkent International Airport at 15:30 on Mondays and 19:50 on Thursdays (local time) and arrive at Shanghai Pudong International Airport at 01:00 on Tuesdays and 04:50 on Fridays (Beijing Time). (CCTV News)
Effective March 20th, the storage period for registration files of business entities after cancellation is generally 20 years
Recently, the State Administration for Market Regulation and the National Archives Administration jointly formulated and issued the "Measures for the Management of Registration Files of Business Entities" to strengthen the standardized management of registration files of business entities and effectively protect and utilize the registration files. The "Measures" will come into force on March 20th. The "Measures" clarify that during the existence of a business entity, the registration files shall be continuously preserved. After the cancellation of a business entity, the storage period for the registration files is generally 20 years. The registration authority shall regularly appraise the preservation value of the registration files whose storage period has expired and decide whether to destroy them or transfer them to the national comprehensive archives at the same level for permanent preservation. (CCTV News)
HEMA Established a Network Technology Company in Tianjin with a Registered Capital of 30 Million Yuan
36Kr learned that according to Tianyancha App, recently, Tianjin HEMA Network Technology Co., Ltd. was established. The legal representative is Gao Qiang, and the registered capital is 30 million RMB. The business scope includes retail of household appliances, health consultation services, agency sales of single - purpose commercial prepaid cards, sales of automobile decoration products, ticketing agency services, repair of daily - use products, primary processing of edible agricultural products, sales of office supplies, etc. Shareholder information shows that the company is wholly owned by HEMA (China) Co., Ltd.
Two New Measures to Facilitate Residents from Hong Kong, Macao and Taiwan to Take Effect on March 20
36Kr learned that the Exit and Entry Administration of China has decided that starting from March 20, 2025, it will issue temporary permits for residents from Hong Kong, Macao and Taiwan who need to travel to the Chinese mainland, and provide verification services for the "linkage of two certificates" between the permit for traveling to the Chinese mainland and the residence permit.
All three major U.S. stock indexes closed lower, and most popular Chinese concept stocks declined
36Kr learned that at the close on March 20, all three major U.S. stock indexes fell. The Dow Jones Industrial Average dropped 0.03%, the Nasdaq Composite declined 0.33%, and the S&P 500 Index slipped 0.22%. Most large technology stocks fell. Netflix dropped 0.9%, Google declined 0.67%, Apple slipped 0.53%, Amazon dropped 0.3%, and Microsoft declined 0.25%; NVIDIA rose 0.86%, Meta climbed 0.33%, and Tesla edged up 0.17%. Most popular Chinese concept stocks tumbled. NIO and Tiger Brokers fell more than 8%, XPeng Motors and Zeekr dropped more than 7%, Weibo, Futu Holdings, iQiyi, Alibaba, JD.com, and Baidu declined more than 4%, Tencent Music and Li Auto fell more than 2%; Pinduoduo rose about 4%.
Report: Global Energy Transition Investment Exceeds $2 Trillion for the First Time in 2024
36Kr learned that the annual report "Energy Transition Investment Trends 2025" released by research institution BloombergNEF (BNEF) shows that global investment in low - carbon energy transition increased by 11% in 2024, reaching a record $2.1 trillion. Electric transportation, renewable energy, and power grids were the main drivers of growth. Investments in the above - mentioned sectors all hit new highs last year, as did investments in energy storage. Although the total investment in energy transition technologies reached a new record, the growth rate was lower than the 24% to 29% annual growth in the previous three years.
South Korea's Total Debt Reaches 622.2 Trillion Won, a Record High
Data released on Thursday showed that the total debt of the South Korean government, businesses, and households reached an all-time high amid weak domestic demand and falling revenues. According to data from the Bank for International Settlements (BIS), as of the end of the third quarter of 2024, the total of South Korea's government debt, corporate, and household loans reached a record 622.2 trillion won (approximately $427 billion), equivalent to 247.2% of South Korea's nominal gross domestic product (GDP). This figure increased by 4.1% year-on-year and 0.9% quarter-on-quarter. (Sina Finance)
South Korea Announces Pilot Program for Temporary Visa - Free Entry for Chinese Group Tourists, Expected to Be Officially Implemented in the Third Quarter
According to the Ministry of Culture, Sports and Tourism of South Korea, at the "Livelihood Economy Inspection Meeting" held in Gyeongju, relevant departments jointly released the "Global Strategy to Boost the Inbound Tourism Market in South Korea", which includes a pilot program for temporary visa - free entry for Chinese group tourists. The South Korean government will implement a time - limited visa - free pilot program for Chinese group tourists through designated partner travel agencies next month. After fully soliciting opinions from all sectors, it will officially and comprehensively launch a trial implementation in the third quarter. (Jiemian News)
Chinese Embassies and Consulates in India: Over 50,000 Visas for China Issued in the First Quarter of This Year
The Chinese Embassy in India announced on March 20 that as of March 17, 2025, Chinese embassies and consulates in India had issued over 50,000 visas for Indian citizens to travel to China. Measures such as no appointment required, no fingerprint collection (for short - term trips to China), and visa fee exemptions have made traveling to China more convenient. As spring is in the air, more Indian friends are welcome to experience China in spring. (Jiemian News)
Search for Wreckage of Malaysia Airlines Flight MH370 Approved to Resume
According to Bernama, the Malaysian government officially approved on the 19th for the underwater exploration company "Ocean Infinity" to resume the search for the wreckage of Malaysia Airlines Flight MH370. Malaysian Transport Minister Loke Siew Fook said that with the final approval, the Ministry of Transport will sign an agreement on behalf of the government with the UK-based "Ocean Infinity" company, paving the way for the latter to continue the seabed search to locate the wreckage of Flight MH370 in a new area of about 15,000 square kilometers in the southern Indian Ocean. This search will follow the principle of "no find, no fee", meaning that the Malaysian government will only need to pay Ocean Infinity if the wreckage is found, and the success fee is $70 million. (IT Home)
Apple's streaming service loses up to $1 billion annually
It is reported that Apple's streaming service loses up to $1 billion annually, and the number of streaming subscribers increased to approximately 45 million last year. (Jiemian News)
Coventry Elected President of the International Olympic Committee
Coventry has been elected as the tenth President of the International Olympic Committee. She is the first female President in the history of the International Olympic Committee and also the first IOC President from Africa. (People's Daily)
Audi Germany to Lay Off 7,500 Employees
According to foreign media reports, Audi said that after discussions with the union, it will cut 7,500 jobs by 2029. The job cuts will mainly focus on "non-production departments", such as administrative and management positions. The reason for the layoffs is to improve productivity, speed and flexibility. The company is re-adjusting its product portfolio and reducing bureaucracy. The layoffs will be carried out in phases. In the first phase, 6,000 jobs will be cut by 2027; by the end of 2029, another 1,500 jobs will be cut. These measures will help the company achieve annual cost savings of more than 1 billion euros. "The economic situation is getting worse and worse. Competitive pressure and uncertainty pose huge challenges to Audi," Audi said. (Bianniushi)
The United States fines Hino Motors, a subsidiary of Toyota, over $1.6 billion for "emissions cheating"
On March 19 local time, the U.S. Department of Justice announced that a U.S. court accepted Hino Motors' guilty plea to a single criminal charge. The charge alleges that Hino Motors participated in a multi - year criminal conspiracy, deceived the U.S. government and U.S. consumers, and illegally smuggled goods into the United States. The court sentenced Hino Motors, a subsidiary of Toyota, to pay a criminal fine of $521.76 million, put it on probation for five years, prohibited it from importing any diesel engines it produced into the United States during the probation period, and required it to implement a comprehensive compliance and ethics program and reporting structure. The court also imposed a fine of $1.087 billion on the company. (Jiemian News)
The Cutting - Edge of AI
Jensen Huang Responds to the Impact of DeepSeek: Computing Power Demand Will Soar, and Chips Will Be in Even Shorter Supply
NVIDIA CEO Jensen Huang recently stated that the R1 model released by Chinese artificial intelligence company DeepSeek will only increase the demand for computing infrastructure. Therefore, concerns that "the demand for chips may decrease" are unfounded.
On Wednesday (March 19th) local time, Huang said during a meeting with analysts and investors at the GTC conference that the previous understanding in the outside world that "R1 might reduce the demand for chips" was completely wrong, and the computing demand in the future will even become much higher. (Caixin, Sina News)
xAI under Musk Launches Image Generation API
xAI, an artificial intelligence company under Elon Musk, added an image generation feature to its API on March 20th. This API only supports the "grok-2-image-1212" model, which can generate up to 10 images based on the input description, process a maximum of 5 requests per second, and the output format is JPG. Each image costs $0.07 (Note from IT Home: approximately 0.51 RMB at the current exchange rate).
According to foreign media TechCrunch, since the launch of the API in October 2024, xAI has been looking for new sources of revenue to accelerate the training and R & D of its flagship model, Grok 3. The company is in talks with investors for a $10 billion (approximately 72.323 billion RMB at the current exchange rate) financing. If the deal is reached, its valuation may climb to $75 billion. In addition, xAI recently acquired a generative AI video company and plans to expand its data center in Memphis to enhance the training and operation capabilities of its models, which also reveals its more ambitious development goals. (IT Home)
Elon Musk Joins Forces with BlackRock to Take on OpenAI
According to a report on the website of The Nikkei on March 20, xAI, a company led by American entrepreneur Elon Musk, announced on the 19th that it will participate in an artificial intelligence (AI) infrastructure investment fund led by BlackRock, an American asset management company. This clearly indicates that xAI wants to compete with the "Stargate" investment plan being promoted by its competitor, OpenAI, a leading artificial intelligence research center. BlackRock announced on the 19th that xAI and NVIDIA will participate in the AI fund it has launched. It is not yet clear how xAI and NVIDIA will participate, such as whether they will inject capital into the fund. (Reference News)
Shenzhou Information has developed the "Intelligent Comprehensive Credit System" by integrating DeepSeek
36Kr learned that Shenzhou Information has developed the "Intelligent Comprehensive Credit System" by integrating DeepSeek. It is understood that this system has achieved improvements in capabilities such as multi - modal analysis, dynamic modeling, and real - time early warning, enabling precise decision - making and efficiency enhancement throughout the entire credit business process. It focuses on five scenarios: "Non - standard data conversion, Supply chain transaction verification, Soft information quantification, Industry risk monitoring, and Precise marketing of customer profiles" to address challenges such as the difficulty of verifying non - standard data in the inclusive finance field and the difficulty of complex risk control penetration in the corporate business field.
Financial Reports of Large Companies
China Mobile: Operating revenue reached 1.0408 trillion yuan in 2024, a year-on-year increase of 3.1%
36Kr learned that China Mobile announced in the Hong Kong Stock Exchange that its operating revenue in 2024 was 1.0408 trillion yuan, a year-on-year increase of 3.1%; the profit attributable to shareholders was 138.4 billion yuan, a year-on-year increase of 5.0%. The board of directors proposed a final dividend of HK$2.49 per share for 2024. Together with the interim dividend already distributed, the total dividend for the whole year of 2024 was HK$5.09 per share, a year-on-year increase of 5.4%.
Pinduoduo: Achieved Revenue of 393.8 Billion Yuan in 2024, with Annual R&D Investment Increasing by 16% Year-on-Year to 12.7 Billion Yuan
36Kr learned that Pinduoduo released its financial report for the fourth quarter and the full year of 2024. The financial report shows that Pinduoduo achieved revenue of 393.8 billion yuan in 2024, a year-on-year increase of 59%. In 2024, Pinduoduo's R&D investment reached 12.7 billion yuan, a year-on-year increase of 16%. In the past year, Pinduoduo successively implemented a series of new business - friendly measures such as the "Hundred - Billion Relief", the "Westward Expansion of E - commerce", and the "New - Quality Merchant Support Plan", helping more than ten million merchants reduce costs and increase efficiency, driving double - digit year - on - year growth in the order volume in the western region, and promoting thousands of agricultural and pastoral production areas and industrial clusters to gradually enter the development stage of "new - quality supply". The effectiveness of the high - quality development strategy is remarkable.
Geely Auto: Annual Revenue in 2024 Breaks Through 240 Billion Yuan for the First Time, and Annual Net Profit Attributable to Shareholders Increases by 213% Year-on-Year
36Kr learned that Geely Auto released its 2024 financial report. The report shows that in 2024, the company's total revenue exceeded 240 billion yuan for the first time, reaching 240.2 billion yuan, a year-on-year increase of 34%, hitting a record high. The annual net profit attributable to shareholders was 16.6 billion yuan, a year-on-year increase of 213%. The net profit attributable to shareholders after deducting non-recurring gains and losses was 8.5 billion yuan, a year-on-year increase of 52%, indicating a significant improvement in operating profitability. Thanks to the emergence of economies of scale and the significantly enhanced competitiveness of core products, Geely Auto's total gross profit also increased significantly to 38.2 billion yuan during the period, with a gross profit margin of 15.9%. The net cash level rose by 40% to 39.8 billion yuan, hitting a record high, indicating abundant and stable cash reserves.
Tuhu Car Care: Net Profit of 624 Million Yuan in 2024, Nearly 7,000 Stores and 140 Million Registered Users
36Kr learned that Tuhu Car Care released its 2024 performance. The performance shows that Tuhu Car Care's annual revenue reached 14.8 billion yuan, a year-on-year increase of 8.5%, in line with the consensus expectation; the adjusted net profit was 624 million yuan, a year-on-year increase of 29.7%, far exceeding the consensus expectation of 580 million yuan. By the end of last year, Tuhu Car Care had 6,874 workshop stores, a net increase of 965 compared to the previous year; the cumulative number of registered users was nearly 140 million, a year-on-year increase of 20.4%.
Investment and Financing
"Songying Technology" Completes Angel Round Financing of Tens of Millions of Yuan
36Kr learned that recently, "Songying Technology", a real-time physical AI simulation platform company, announced the completion of an angel round of financing. The lead investor is Zhongke Chuangxing, and the follow-on investors include Shanghai Angel Club, Relay Angel, and Miracle Plus. The financing funds will be used for team building and R & D expansion.
Cool Products
Huawei Unveils Wide-Folding Smartphone Pura X
36Kr learned that at the Huawei Pura Pioneer Festival and HarmonyOS Smart Mobility New Product Launch Event, Huawei introduced its first wide-folding smartphone, the Huawei Pura X, with a starting price of 7,499 yuan and the limited edition starting at 8,999 yuan. Meanwhile, Yu Chengdong, Executive Director of Huawei, Chairman of the Consumer Business Group, and Chairman of the Intelligent Automotive Solution Business Unit, delivered a speech. He stated that Huawei's consumer business has fully entered the HarmonyOS era, and a HarmonyOS-powered computer will be launched in May this year. Additionally, the new AITO M5 Ultra was also unveiled at the event, with a starting price of 229,800 yuan.
Dreame's Cutting - edge Flagship T50 Ultra Floor Cleaner Launched
36Kr learned that on March 19, 2025, Dreame Technology officially launched its brand - new flagship T50 Ultra floor cleaner at the "Born Without Boundaries" 2025 Ecosystem Launch Event. With multiple industry - leading technologies such as "Smart Pet Deodorizing Foam Floor Cleaning", "100℃ Far - infrared Gentle - sound Thorough Drying", "Smart Capture AI Robotic Arm 2.0", and "Swiss PPA Hair - cutting Serrated Blade 2.0", it brings a new generation of full - scenario cleaning solutions to global households.
Compiled | Dingding Fried Noodles