36氪_让一部分人先看到未来

The rectification of Sanzhiyang Company meets the requirements and it meets the conditions for resuming business.

Going Public in Progress

Beijing Yunji Technology Co., Ltd.

36Kr learned that according to the Hong Kong Stock Exchange, Beijing Yunji Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CCB International and CITIC Securities.

Top 3 Big News

Hefei Joint Investigation Team: The Rectification of Three Goats Company Meets the Requirements and It Meets the Conditions for Resuming Business

The Hefei Joint Investigation Team released a circular on the rectification situation of Hefei Three Goats Network Technology Co., Ltd. on March 23: On October 11, 2024, Three Goats Company fully paid the fine and confiscation amount of 68.9495 million yuan. For the involved products such as "Hong Kong Meicheng Mooncakes" and "Australian Grain - Fed Beef Rolls", a total of 27.7785 million yuan has been compensated, and the company will continue to follow the principle of full compensation, implement the standard of "one - for - one return and three - for - one compensation", and do a good job in refunding and compensating. In response to the problems existing in Three Goats Company in terms of product selection and quality control, promotion, after - sales service, and internal management, the municipal joint investigation team guided the company to formulate 89 specific rectification measures, urged it to implement the rectification, and required it to deeply reflect on the inappropriate words and deeds during the previous live - streaming process, earnestly implement the requirements of the network civilization behavior norms, effectively strengthen the standardized management of anchor personnel and live - streaming activities, strengthen social responsibility, and consciously establish a good image. At the application of Three Goats Company, the municipal joint investigation team organized relevant competent departments, lawyers, consumer representatives, etc. to conduct a comprehensive evaluation and considered that the rectification of Three Goats Company met the requirements and it met the conditions for resuming business. (Sina Finance)

Three pharmaceutical companies fined 220 million yuan for colluding to drive up drug prices

Recently, under the designated jurisdiction of the State Administration for Market Regulation, the Shanghai Municipal Administration for Market Regulation imposed administrative penalties on the horizontal monopoly agreement case involving Shanghai Xinyi United Pharmaceutical Materials Co., Ltd., Henan Runhong Pharmaceutical Co., Ltd., and Chengdu Huixin Pharmaceutical Co., Ltd. On April 30, 2024, the Shanghai Municipal Administration for Market Regulation filed a case for investigation into this matter. After investigation, during the relevant period, the three pharmaceutical companies colluded to drive up the sales price of Neostigmine Methylsulfate Injection, with the price increase reaching 11 - 21 times, which damaged the legitimate rights and interests of consumers and the public interest. They also divided the domestic sales markets of public and private hospitals to maintain their respective stable market shares, excluding and restricting fair market competition. In accordance with the provisions of Articles 17, 56, and 59 of the Anti - Monopoly Law, the Shanghai Municipal Administration for Market Regulation ordered the three pharmaceutical companies to stop their illegal acts, confiscated their illegal gains and imposed fines, totaling 222,997,766.22 yuan. A natural person who was personally responsible for reaching the monopoly agreement was fined 500,000 yuan. Among them, Shanghai Xinyi United Pharmaceutical Materials Co., Ltd., a subsidiary of Shanghai Pharmaceuticals, was fined and had its illegal gains confiscated, totaling 166 million yuan. (China News Service)

Multiple regions issue documents to implement spring vacations

On March 17th, relevant officials from six departments including the National Development and Reform Commission introduced the situation regarding boosting consumption and answered journalists' questions. Li Chunlin, the deputy director of the National Development and Reform Commission, mentioned that the "Special Action Plan for Boosting Consumption" encourages places with conditions to set up spring and autumn vacations for primary and secondary schools. On March 18th, 2025, the Education Bureau of Lichuan City, Hubei Province issued a notice stating that primary and secondary schools in the city will have a 2 - day spring vacation. Combined with the Tomb - Sweeping Festival holiday, students can have a consecutive 5 - day break. Recently, urban districts such as Shangcheng District, Gongshu District, and Qiantang District in Hangzhou have announced the spring vacation schedule for this year. Some spring vacations are combined with the May Day holiday, allowing for a maximum of 9 days off. In addition to primary and secondary schools, currently, many universities across the country have implemented spring or autumn vacations. Beijing Information Science and Technology University recently announced that it will have a spring vacation from April 7th to 13th. Meanwhile, Renmin University of China has specified that this year's spring vacation will be at the end of April; the academic calendar of Xiamen University Tan Kah Kee College shows that the school plans to have a spring vacation from April 26th to May 4th, with a consecutive 9 - day break. (CCTV News)

Large companies/ Major events

Yang Guofu Malatang Apologizes for the Appearance of a Rat: The Involved Store Immediately Removes and Destroys All Food Ingredients and Suspends Business for Rectification

On the afternoon of March 22nd, Yang Guofu Malatang issued an apology statement regarding the appearance of a rat in one of its stores: Food safety is the lifeline of an enterprise. This incident reflects that there are omissions in our daily supervision of franchisees. We deeply reflect on this and have taken the following measures: 1. We apologized to the consumers and completed the compensation within two hours after the incident occurred. At the same time, we imposed a business suspension penalty on the involved store and carried out closed - loop rectification. 2. Starting from now, we will conduct a thorough inspection of rodent - proof facilities, food storage, and operating specifications. Stores that fail to meet the standards will be immediately suspended. 3. We have established a special investigation team to continuously strengthen the supervision of all stores across the country. We will conduct food safety training and inspections every month and improve the food safety management system. 4. We have simultaneously opened a food safety complaint hotline (021 - 60318608). All feedback will be directly sent to the headquarters' supervision center, and we promise to respond and handle it within 24 hours. Meanwhile, we will actively cooperate with local market supervision and administration bureaus to establish an "online + offline" regular supervision mechanism. We will regularly invite consumer representatives and media representatives to participate in surprise inspections of stores to rebuild trust through transparent actions. (Red Star News)

Director Jiaozi's Box Office Exceeds 20 Billion Yuan

According to data from online platforms, the cumulative box office of all the movies directed by Jiaozi has exceeded 20 billion yuan, making him the first filmmaker in the history of Chinese cinema to achieve this milestone. Jiaozi's debut film, Let the Bullets Fly, Big Watermelon, was released in mainland China on December 31, 2008. Currently, the global box office (including pre - sales and overseas) of Nezha: Rebirth of the Demon has reached 15.287 billion yuan. (China News Service)

Chinese Researchers Release a Large Model for "Directed Evolution" of Proteins

As a basic component of organisms, proteins are widely present in people's production and daily life. On March 22, the team led by Hong Liang, a specially - appointed professor at Shanghai Jiao Tong University, released a large protein design model named Venus. Its core ability is to enable the "directed evolution" of protein functions. Several products designed by this model have entered industrial applications. (Xinhua News Agency)

Shenzhou-19 Crew Successfully Completes the Third Extravehicular Activity

At 20:50 on March 21st, after about 7 hours of extravehicular activity, the Shenzhou-19 crew members Cai Xuzhe, Song Lingdong, and Wang Haoze closely coordinated. With the cooperation and support of the space station's robotic arm and ground scientific researchers, they completed tasks such as installing the space debris protection device and extravehicular auxiliary facilities on the space station, and inspecting extravehicular equipment and facilities.

According to the China Manned Space Engineering Office, the extravehicular astronauts Cai Xuzhe and Song Lingdong have safely returned to the Wentian Laboratory Module, and the extravehicular activity was a complete success. Astronaut Cai Xuzhe has completed 5 extravehicular activities, becoming the Chinese astronaut with the most extravehicular missions so far. At present, the "business trip in space" of the Shenzhou-19 crew has been nearly 5 months, and all space science experiments are progressing smoothly. As planned, the crew will return to Earth more than a month later. (Xinhua News Agency)

New Breakthrough Achieved in China's Brain-Computer Interface Field

On March 20th, a press briefing on the human implantation of the world's first batch of flexible high-throughput semi-invasive wireless fully implanted brain-computer systems by "Beinao No. 1" was held in Beijing. At the meeting, a breakthrough achievement was announced: the world's first wireless implanted Chinese-language brain-computer interface successfully helped patients who lost their ability to speak due to amyotrophic lateral sclerosis (ALS) to rebuild their communication skills. This achievement marks a crucial step forward in the field of language function restoration through brain-computer interfaces and provides a brand - new treatment option for patients who have lost their ability to speak due to ALS, strokes, etc. (Science and Technology Daily)

Beijing to Plant Female Cypress Trees That Produce No Pollen

Recently, a large amount of pollen from Chinese junipers in Beijing's Temple of Heaven Park has been floating in the air, causing discomfort to many allergy sufferers. Some people have proposed replacing the tree species, but experts say that many of the existing Chinese junipers are ancient trees and cannot be easily cut down. To alleviate this problem, Beijing has taken measures such as pruning branches, spraying water, and wetting the ground. These methods have been very effective in controlling the pollen dispersion of existing cypress trees. In addition, Beijing has begun to gradually replace tree species that are likely to cause allergies and will strictly control the future planting volume of relevant tree species. Considering the important role of cypress trees in the ecosystem, the landscaping department plans to select and plant female Chinese junipers that do not produce pollen. (China National Radio)

Chairman of the China Council for the Promotion of International Trade Meets Apple CEO Tim Cook

On March 23, the Annual Conference of the China Development Forum 2025 was held at the Diaoyutai State Guesthouse in Beijing. During the forum, Ren Hongbin, Chairman of the China Council for the Promotion of International Trade, held talks with Tim Cook, CEO of Apple Inc. (Jiemian News)

The Federal Reserve Suffered a Massive Loss of $77.6 Billion

On March 21 local time, the audit results of the Federal Reserve's 2024 financial statements showed that the Federal Reserve's operating loss in 2024 reached as high as $77.6 billion (approximately RMB 560 billion), marking a large - scale loss for the second consecutive year. The loss in 2023 was as high as $114.5 billion. Analysts said that the main reasons for the Federal Reserve's huge losses were its strong support for the economy during the pandemic in 2020 and 2021, and the significant interest - rate hikes in 2022 and 2023 to combat high inflation, which raised the benchmark interest rate from near zero to the range of 5.25% - 5.5%. (NBD)

The three major U.S. stock indexes closed slightly higher, and large technology stocks generally rose

36Kr learned that at the close on March 21, the three major U.S. stock indexes rose slightly. The Dow Jones Industrial Average rose 0.08%, the Nasdaq Composite rose 0.52%, and the S&P 500 Index rose 0.08%. Large technology stocks generally rose. Tesla rose more than 5%, while Apple, Meta, and Microsoft rose more than 1%. Netflix, Google, and Amazon rose slightly. Most popular Chinese concept stocks fell. NIO fell more than 4%, iQiyi and Pinduoduo fell more than 3%, and JD.com, Alibaba, Bilibili, Li Auto, and XPeng Motors fell more than 1%. Zhihu rose more than 8%, Zeekr rose more than 3%, and Baidu rose slightly.

All vehicles in Tesla stores have activated the Sentry Mode

On March 21, Musk posted on X that Tesla stores have strengthened security measures, and all vehicles in the stores have activated the "Sentry" mode. (NBD)

Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group: Optimistic about the long-term development of the Chinese market and will continue to invest in China

Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group, said in an interview with a reporter from Cailian Press that the uncertainty in the global economy has affected investors' sentiment and mindset. The Chinese government's continuous introduction of a series of policies to promote consumption is a positive move. "Mercedes-Benz remains optimistic about the long-term development of the Chinese automotive market and continues to regard the Chinese market as a growth market," Källenius said. The competition in the Chinese automotive market is extremely fierce. "Part of the 'rules of the game' lies in innovation, and the other part lies in maintaining the brand's 'core values' such as'safety and reliability'. To fully capture the growth potential of the Chinese market, Mercedes-Benz will continue to invest in China." (Cailian Press)

Company X Plans to Acquire the Last $1.2 Billion of M&A Debt Held by Banks

According to people familiar with the matter, Elon Musk's Company X plans to repurchase the last remaining debt related to its acquisition. This debt, which has been held by Wall Street banks for many years, has not been sold off. The person familiar with the matter said that the repurchase plan for this approximately $1.2 billion of second - lien debt may be partially funded by the company's recent equity financing. However, the person also emphasized that no final decision has been made yet, and the relevant plan is still subject to adjustment. (Sina Finance)

Trump Says He'll Pay Overtime for Stranded Astronauts

Astronauts Suni Williams and Butch Wilmore of the U.S. National Aeronautics and Space Administration (NASA) stayed at the International Space Station for an additional 278 days after their spacecraft malfunctioned, but they are not eligible for overtime pay. However, the president said not to worry, and he would compensate them for the extra time spent in space. (Sina Finance)

Nearly 500 Employees of the U.S. Securities and Exchange Commission Agree to Leave, Accepting Buyout and Resignation Packages

People familiar with the matter revealed that nearly 500 employees of the U.S. Securities and Exchange Commission (SEC) have agreed to leave in the face of a $50,000 buyout and deferred resignation offer. The people, who asked to remain anonymous because they were discussing non - public information, said that departments such as enforcement, inspections, and the general counsel's office will experience some more significant departures. The number could be even higher as more people accept the buyout agreement before the $50,000 incentive deadline on Friday. Some of these departures may not occur until later this year. (Sina Finance)

The Cutting - Edge of AI

Italy Publishes the World's First "AI Newspaper"

Italy's national newspaper, "Il Foglio", recently announced that it has published the world's first newspaper entirely written by generative artificial intelligence technology. The AI - generated newspaper was included as a paper insert in the main newspaper sold on the same day. The newspaper's masthead is marked with the words "AI". The titles, abstracts, and contents of the newspaper articles are all generated by AI. The newspaper staff will ask questions to the AI platform based on the news that occurred on that day, and the AI technology will generate articles according to the questions. The person - in - charge of the newspaper said that even if there are errors in the content of the articles generated by AI, or the stance may be different from the newspaper's reporting stance, journalists and editors will not verify and correct the generated content. It is understood that this AI newspaper is still in the experimental stage. (Sina Finance)

Tencent Hunyuan T1 Official Version Released

36Kr learned that on March 21st, Tencent announced the launch of the official version of its self-developed in-depth thinking model, Hunyuan T1. It is currently available on the Tencent Cloud official website and will soon be launched in a limited release on Tencent Yuanbao. Built on the foundation of the new-generation fast-thinking model, Hunyuan Turbo S, which Tencent released at the end of February, this model is a powerful reasoning model that can respond instantly, speak quickly, and excel at processing extremely long texts, maintaining a leading position in the industry.

Publication and Release of "Application Guide for Empowering Digital Government with DeepSeek"

Recently, the book "Application Guide for Empowering Digital Government with DeepSeek" was published by Xinhua Publishing House and released nationwide. The e - book of this book will be launched on major domestic digital reading platforms. Written by China Economic Information Service, the book focuses on the application of artificial intelligence technology in the construction of digital government. It elaborates in detail on the innovative explorations in multiple fields such as "efficiently completing one thing", "one - network handling", government service halls, 12345 hotlines, and smart cities. It showcases the vivid practice of artificial intelligence empowering the construction of digital government, and deeply explores how artificial intelligence technologies like DeepSeek can empower the improvement of government service efficiency and the modernization of urban governance, providing references for people from all walks of life who are engaged in or concerned about the construction of digital government. (Xinhua News Agency)

Google is launching real-time AI video features for Gemini

It is reported that Google spokesperson Alex Joseph confirmed that Google has begun to roll out new AI features on Gemini Live, enabling AI to "see" the content on users' device screens or mobile phone cameras and answer users' questions in real time. Nearly a year ago, Google first demonstrated "Project Astra," which laid the foundation for these new features. (Jiemian News)

Financial reports of large companies

BY - HEALTH: Net profit in 2024 decreased by 62.62% year - on - year, plans to distribute 3.6 yuan per 10 shares

36Kr learned that BY - HEALTH announced that in 2024, it achieved an operating income of 6.838 billion yuan, a year - on - year decrease of 27.3%; the net profit was 653 million yuan, a year - on - year decrease of 62.62%. The company plans to distribute a cash dividend of 3.6 yuan (including tax) for every 10 shares to all shareholders.

Shede Spirits: Net profit of 346 million yuan in 2024, a year-on-year decrease of 80.46%

36Kr learned that Shede Spirits released its 2024 performance report. The report shows that in 2024, the company's net profit attributable to shareholders of the listed company was 346 million yuan, a decrease of 80.46% compared with the same period of the previous year. The company plans to distribute a cash dividend of 4.3 yuan for every 10 shares, with a total planned cash dividend of 142 million yuan, accounting for 40.94% of the net profit. In 2024, the company's operating income was 5.357 billion yuan, a decrease of 24.41% compared with the same period of the previous year.

Shanghai Meilun Biotechnology Co., Ltd.: Operating revenue reached 6.793 billion yuan in 2024, a year-on-year increase of 62.1%

36Kr learned that on March 20th, Shanghai Meilun Biotechnology Co., Ltd. released its 2024 annual performance report. The report shows that in 2024, the company achieved an operating revenue of 6.793 billion yuan, a year-on-year increase of 62.1%; a net profit of 803 million yuan, a year-on-year increase of 74.0%; a gross profit of 5.109 billion yuan, a year-on-year increase of 69.2%; and the gross profit margin increased by 3.1 percentage points to 75.2%. In 2024, the revenue of its main brand, Hanshu, reached 5.591 billion yuan, a year-on-year increase of 80.9%. The brand newpage, which represents the second growth curve, achieved exponential growth in 2024, with a revenue of 376 million yuan, a year-on-year increase of 146.3%.

Cool Products

Hisense's World's First RGB-Mini LED TV Goes into Mass Production and Hits the Market, Starting at 27,999 Yuan

36Kr learned that on March 21st, during the 2025 China Household Appliances and Consumer Electronics Expo (AWE2025), Hisense held the 2025 Ultra-Flagship New Product Launch at the Shanghai World Expo Center, officially unveiling the ultra-flagship new product UX series that adopts two innovative technology routes: RGB-Mini LED and Micro LED. The world's first RGB-Mini LED TV comes in three sizes: 85 inches, 100 inches, and 116 inches, with the initial launch prices of 27,999, 49,999, and 99,999 yuan respectively.

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