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Xiangpiaopiao milk tea was reported to have raised its price to 16 yuan per cup. The official response: Only specific products are priced at 16 yuan.

Top 3 Big News

Xiangpiaopiao Milk Tea Reportedly Raised Price to $16 per Cup, Official Response: Only Specific Product Priced at $16

Recently, the Weibo topic "Xiangpiaopiao Milk Tea Reportedly Raised Price to $16 per Cup" has sparked heated discussions. It is understood that the pre-Qingming special-grade Longjing light milk tea is priced at $98 per box, with 6 cups in each box. The unit price has increased nearly five times compared with previous products. Some consumers mistakenly thought that all Xiangpiaopiao products had raised their prices to $16. In response, Xiangpiaopiao clarified that currently, only the pre-Qingming special-grade Longjing light milk tea is priced at $16 per cup, and other products have not increased in price. Xiangpiaopiao also stated that the pre-Qingming special-grade Longjing light milk tea uses pre-Qingming special-grade Longjing, and each original tea bag in the cup contains no less than 2.9 grams of special-grade Longjing (Testing basis for special-grade Longjing: GB/T18650 - 2008 "Geographical Indication Product - Longjing Tea"). (Daily Economic News)

Xiaohongshu Accused of Frequent User Information Collection, Official Customer Service Responds: User Privacy Information Will Not Be Leaked

Recently, user Xia V (a pseudonym) told Jiupai Finance that out of curiosity, she checked the privacy settings on her Android phone and found that the Xiaohongshu app had been accessed up to 92,000 times in the past 30 days. The full record of app actions showed that address access was the most frequent, reaching up to 71,000 times. On March 25 alone, it was accessed 2,148 times. Xia V changed several access permissions of Xiaohongshu to "Ask Every Time", and when she checked the access volume again on March 26, it had returned to normal. The official customer service of Xiaohongshu explained that it was because the "Nearby" function required the user's address information, but Xia V said that she had never used this function.

Jiupai Finance noticed that as early as July 2024, complaints about "Xiaohongshu constantly collecting location information" had appeared on social media, with more than 70,000 related posts. Some iOS users found that even when not using the app, as long as the background was not closed, the blue location icon in the notch area would always be on. A reporter from Jiupai Finance asked the official customer service of Xiaohongshu about this. The customer service said that this situation would occur when users chose to turn on relevant Xiaohongshu permissions, which was normal. The platform would not leak users' privacy information, and for specific issues, relevant screen recordings and screenshots needed to be sent to a designated email address. (Jiupai News)

Hurun Global Rich List Released: Zhang Yiming Becomes China's Richest Man, Lei Jun's Wealth More Than Doubles

On March 27th, Hurun Research Institute released the "Hurun Global Rich List 2025". In the field of AI, 40 - year - old Liang Wenfeng of DeepSeek and 39 - year - old Sam Altman of OpenAI made their debut on the Hurun Global Rich List with fortunes of 33 billion yuan and 13 billion yuan respectively.

42 - year - old Zhang Yiming, the founder of ByteDance, replaced 71 - year - old Zhong Shanshan, the "Bottled Water King", to become China's richest man. Thanks to the valuation increase of ByteDance brought by the momentum and prospects of its AI business, Zhang Yiming's wealth reached 435 billion yuan, a 76% increase, or 190 billion yuan. 54 - year - old Ma Huateng of Tencent surpassed Huang Zheng of Pinduoduo and ranked among the top three in China with 320 billion yuan. The fastest - growing Chinese entrepreneur is 56 - year - old Lei Jun of Xiaomi, headquartered in Beijing. He is one of the entrepreneurs with the fastest - growing wealth this year. His wealth more than doubled to 220 billion yuan, and he entered the top ten in China for the first time. (Caixin)

Big Companies/Big Events

Trump Becomes the Richest U.S. President in History, with His Wealth Almost Tripling in One Year

The latest Hurun Global Rich List 2025 released by Hurun Research Institute shows that Donald Trump has become the richest U.S. president in history. His wealth has almost tripled in one year, reaching 52.5 billion yuan, and he has made it into the top 500 of the Hurun Global Rich List, mainly thanks to his 53% stake in Truth Social.

The list shows that there are 163 new billion - dollar entrepreneurs globally, and the total number has reached a record high of 3,442. The United States has become the country with the most billion - dollar entrepreneurs in the world, with 870 billion - dollar entrepreneurs, an increase of 70 from last year. China ranks second, with 823, an increase of 9. (Sanxiang City Express)

Foreign Ministry Responds to CK Hutchison's Sale of Overseas Ports: China Opposes Actions that Infringe upon and Damage the Legitimate Rights and Interests of Other Countries

On March 27, Foreign Ministry Spokesperson Guo Jiakun presided over a regular press conference. At the conference, a reporter from Agence France-Presse asked a question about CK Hutchison's sale of overseas ports.

Guo Jiakun said that for specific details, it is recommended to inquire with the relevant Chinese authorities. "As a principle, I would like to emphasize that China has always firmly opposed relevant actions that use economic coercion, hegemony, and bullying to infringe upon and damage the legitimate rights and interests of other countries," Guo Jiakun said. (Beijing Daily)

Fat Donglai Responds to "Fat Doulai": Will Send a Lawyer's Letter to Demand Rectification if Infringement is Involved

Recently, a shopping mall about to open in Jiaxing, Zhejiang, has sparked heated discussions online because it is named "Fat Doulai". Many netizens believe that the mall may be "riding on the coattails of Fat Donglai's popularity". On the afternoon of March 26, a reporter contacted Mr. Pan, a staff member of Fat Doulai Hypermarket. He said that the name "Fat Doulai" was chosen because the company's boss once visited and studied at Fat Donglai and highly recognized it. The boss required his own enterprise to learn from and catch up with Fat Donglai. Moreover, the boss's surname is "Dou (du)", so the name "Fat Dou (du) Lai" was given.

In response, a staff member of Fat Donglai's supermarket in Xuchang said that the name "Fat Doulai" may be an attempt to ride on the coattails of popularity. The legal department will conduct an assessment, and if infringement is involved, a lawyer's letter will be sent to demand rectification. Currently, Fat Donglai has no stores outside Henan Province. (Jimu News)

Ford Recalls 33,576 Vehicles in the United States

Ford Motor Company has announced a recall of some vehicles in the U.S. market, totaling 33,576 units. The reason for this recall is that if there is a leak in the vehicle's fuel system, when it comes into contact with ignition sources such as a high - temperature engine or exhaust components, it may increase the risk of fire. (Sina Finance)

Evergrande Auto Responds to Soaring Stock Price: It Is Unaware of Any Reasons for the Stock Price Increase or Any Information That Must Be Disclosed

On the evening of March 26, Evergrande Auto (00708.HK) announced that the company's board of directors had noticed a recent increase in the price and trading volume of the company's shares on the Hong Kong Stock Exchange. Evergrande Auto stated that following the announcement on September 5, 2024, regarding the creditor's application for the bankruptcy liquidation of its indirectly wholly - owned subsidiary, Evergrande Hengchi New Energy Automobile (Shanghai) Co., Ltd., it received a ruling from the Shanghai No. 3 Intermediate People's Court on March 17, 2025, and the court had accepted the bankruptcy liquidation application.

On March 26, Evergrande Auto issued an announcement on the Hong Kong Stock Exchange regarding the soaring stock price: The board of directors confirmed that it was unaware of any reasons for the increase or any information that must be disclosed to avoid a false market for the company's shares (China News Service).

Xuan Changneng, Deputy Governor of the Central Bank: The central bank will choose the right time to cut the reserve - requirement ratio and interest rates based on the domestic and international economic and financial situations

Xuan Changneng, Deputy Governor of the People's Bank of China, said in his speech at the sub - forum "Seeking Monetary and Financial Stability in an Unstable World" of the Boao Forum for Asia that currently, the domestic and international environment is undergoing profound changes, and the global supply chain is constantly being affected. China's domestic economic structure is also constantly being adjusted. Against the background of increasing uncertainty, China has clearly adopted a moderately loose monetary policy. The central bank has cut the reserve - requirement ratio and interest rates multiple times in a row, and supported economic development through monetary policy adjustments. The stance of the policy is clear. China will choose the right time to cut the reserve - requirement ratio and interest rates based on the domestic and international economic and financial situations. (Securities Times)

Former Intel CEO Pat Gelsinger Enters Venture Capital Industry, Joins Playground Global

Pat Gelsinger, the former CEO of Intel who resigned last December, revealed in an interview on Wednesday that he has entered the venture capital field and joined Playground Global as a general partner. Playground was founded in 2015 by a team including Andy Rubin, the founder of Android, and focuses on early-stage investments in deep technology. (Sina Finance)

Management Shake-up at Parent Company of Japan's Fuji TV: Director Advisor Hisae Hisae to Step Down

Fuji Media Holdings, the parent company of Japan's Fuji TV, announced management personnel changes on March 27. Hisae Hisae, the director advisor of both Fuji TV and Fuji Media Holdings, will step down. Kenji Shimizu, the current president of Fuji TV, will assume the presidency of Fuji Media Holdings, while the current president Osamu Kanemitsu will become the chairman. Ten directors, including Hisae Hisae, will retire, and the number of directors will be reduced from the current 15 to 11. (Jiemian News)

Is Android Stopping Open-Source? Google: Simplifying Development Doesn't Mean Going Closed-Source, Will Continue to Release Source Code

On March 27th, according to an article published by Android expert Mishaal Rahman on the niche website Android Authority, Google confirmed that starting next week, it will begin to develop the Android operating system entirely within its internal branches. This move is to simplify the development of the Android operating system. Google has confirmed that this change does not mean that Android will become closed - source, and the company is committed to releasing the source code of the new Android system. What will actually change is the frequency of publicly releasing the source code of specific Android components. Mishaal Rahman pointed out in the article that this change will have little impact on ordinary users and app developers. The only ones affected are third - party developers who contribute code to AOSP. They may find it more difficult to track the changes Google makes to Android. For many Android phone manufacturers, since they signed agreements with Google long ago and do not use AOSP, the impact on them is also limited, and various Google services will continue to be provided normally. (The Paper)

EU Antitrust Authorities Conduct Surprise Inspections on Coca - Cola's Business in Europe

People familiar with the matter revealed that earlier this month, Coca - Cola's business in Europe became one of the targets of the EU's surprise antitrust investigations. On March 10, the European Commission announced that it would conduct surprise inspections on companies in the non - alcoholic beverage industry in multiple member states, but did not disclose the names of specific companies at that time. The EU antitrust department said that beverage companies may be suspected of violating competition laws by dividing the EU market to restrict competition. (Caixin Press)

Luxury brand Lanvin responds to rumors of exiting the Chinese market: Store closures are for strategic adjustment

The French luxury brand Lanvin has recently closed a number of offline stores in China, including those in high - end commercial projects such as Nanjing Deji Plaza, Hangzhou Tower, and Beijing SKP. The Lanvin brand team responded that it has recently adjusted the overall brand strategy and retail layout, so it has temporarily closed some offline stores. At the same time, it stated that the rumor that the brand is about to exit the Chinese market is untrue, and it will continue to invest in the Chinese market in the future. (Jiemian News)

Two years after being acquired by Elon Musk for $44 billion, social media platform X is expected to achieve its first advertising revenue growth this year

Data released by market research firm Emarketer shows that social media platform X (formerly Twitter) is expected to achieve its first advertising revenue growth since being acquired by Elon Musk for $44 billion in 2022. Emarketer's forecast shows that X's advertising revenue in the United States will grow by 17.5% to $1.31 billion in 2025, while its global advertising revenue is expected to grow by 16.5% to $2.26 billion. (Jiemian News)

The Forefront of AI

KeLing 1.6 Model Tops the Global Video Generation Large Model Ranking

36Kr learned that the global AI benchmark testing institution Artificial Analysis released the latest global video generation large model ranking. Kuaishou's KeLing 1.6 Pro (High-quality Mode) topped the Image to Video track with a score of 1000 in the Arena ELO benchmark test.

NVIDIA Rumored to Eye Acquisition of Lepton AI, Jia Yangqing Responds "No Comment"

On March 27th, it was reported that NVIDIA plans to acquire Lepton AI, an AI startup founded by Jia Yangqing, former vice president of Alibaba Cloud, for hundreds of millions of dollars. Lepton AI's main business is to rent out NVIDIA GPU servers. In response, Jia Yangqing said "No comment." (Yicai Global)

OpenAI Founder: GPUs Are Overloaded, and Temporary Rate Limits Will Be Imposed on ChatGPT's Image Generation Function

Sam Altman, the founder of OpenAI, said that it's really interesting to see people enjoying using the (image generation) function in chats. However, our GPUs are overloaded. While we're working hard to improve efficiency, we will temporarily introduce some rate limits to ChatGPT's image generation function. (Yicai Global)

Manus: Offline events will be held, and efforts are being made to let more people use Manus

The domestic AI agent Manus stated on social media that they are deeply grateful for the established Manus community. To help everyone understand better, they will hold some in-person Manus gatherings in the coming days. The specific schedule is as follows: March 26th/27th in San Francisco, March 29th in Provo, March 31st in New York, and April 9th in Tokyo. Manus also said that they add users from the waiting list to the closed - beta test every day, and its team is working hard to enable more people to use Manus as soon as possible. (Jiemian News)

Financial reports of large companies

Country Garden Services: Annual Net Profit in 2024 Reached 1.81 Billion Yuan, a Year-on-Year Increase of 518.7%

36Kr learned that Country Garden Services released its 2024 financial report. The report shows that the annual revenue in 2024 was 43.99 billion yuan, a year-on-year increase of 3.2%, with a forecast of 43.63 billion yuan; the annual net profit was 1.81 billion yuan, a year-on-year increase of 518.7%, with a forecast of 1.81 billion yuan. The company plans to use no less than 500 million yuan to repurchase or buy back shares.

SMIC: Net profit in 2024 was 3.699 billion yuan, a year-on-year decrease of 23.3%

36Kr learned that SMIC disclosed its annual report. In 2024, its operating income was 57.796 billion yuan, a year-on-year increase of 27.7%; the net profit attributable to shareholders of the listed company was 3.699 billion yuan, a year-on-year decrease of 23.3%.

Peacebird: Net profit of 258 million yuan in 2024, a year-on-year decrease of 38.75%

36Kr learned that Peacebird released its annual report for 2024. In 2024, the company achieved an operating income of 6.802 billion yuan, a year-on-year decrease of 12.7%; the net profit attributable to shareholders of the listed company was 258 million yuan, a year-on-year decrease of 38.75%; the basic earnings per share was 0.55 yuan. It plans to distribute a cash dividend of 4 yuan (tax included) for every 10 shares.

Iflytek Healthcare: Achieved Revenue of 734 million yuan in 2024, with Impressive Performance in B - end Business

36Kr learned that Iflytek Healthcare released its full - year performance report for 2024. The report shows that the company achieved an annual revenue of 734 million yuan, a year - on - year increase of 32.0%; the gross profit reached 404 million yuan, a year - on - year increase of 28.4%, and the gross profit margin remained at 55.1%. Among them, the B - end business performed impressively, with the revenue increasing from 64.91 million yuan in 2023 to 132 million yuan, a year - on - year increase of 103%, becoming a new growth engine for the company. The revenue from patient services increased by 56.6% year - on - year, and the revenue from regional management platform solutions increased by 31.8%. The company's revenue structure continued to optimize, and the proportion of B - end and C - end business in the total revenue increased from 26% in 2023 to 47% in 2024.

Three Squirrels: Net profit of 408 million yuan in 2024, a year-on-year increase of 85.51%

36Kr learned that Three Squirrels released its annual report for 2024. In 2024, the company's operating income was 10.622 billion yuan, a year-on-year increase of 49.3%; the net profit attributable to shareholders of the listed company was 408 million yuan, a year-on-year increase of 85.51%. The basic earnings per share was 1.02 yuan. It plans to distribute a cash dividend of 1.25 yuan (tax included) for every 10 shares to all shareholders.

Investment and Financing

Cheng Tian Technology Completes Nearly 100 Million Yuan Series B Financing

36Kr learned from Cheng Tian Technology's official WeChat account that recently, "Cheng Tian Technology" announced the completion of a nearly 100 million yuan Series B financing. This round of financing was led by Wuxi Venture Capital Group, and Houye Capital served as the exclusive financial advisor. The funds will be mainly used for the R & D and iteration of embodied intelligent exoskeleton technology, the R & D and registration of new brain - machine products, the expansion of the production base, and the global market expansion. It will further promote the application of embodied intelligent exoskeleton wearable robots in the rehabilitation, elderly care, and consumer markets, accelerate the expansion of domestic and overseas channel networks, and build a globally leading exoskeleton technology enterprise.

"Xinxian Semiconductor" Completes Pre-A+ Round of Financing

36Kr learned that "Xinxian Semiconductor", an embedded processor chip design company, has completed nearly 100 million yuan in financing in the Pre-A+ round. It was led by well-known investor Yuanhe Zhongyuan, with strategic investors Haihui Investment, Sany Venture Capital, Xichen Capital, and Jiayu Capital following the investment. Suzhou Industrial Park Leading Venture Capital continued to increase its investment. The strong lineup of shareholders demonstrates high recognition of Xinxian Semiconductor in terms of technical strength, market implementation, and industry prospects.

Cool Products

Liao Qinghong of Xingji Meizu: The Meizu Note 16 series of mobile phones will be released in April this year

36Kr learned that on March 27th, Xingji Meizu held a spring media communication meeting in 2025 in Chengdu. Liao Qinghong, the Chief Operating Officer (COO) of Xingji Meizu, announced that the new Meizu Note 16 series will be released in April, and nationwide reservations have now been opened. The Meizu 22 series will be released this summer. Liao Qinghong said that this year marks the 22nd anniversary of the Meizu brand. The Meizu 22 series will not only be flagship mobile phones but also bring an understanding and thinking of the new form of AI Device.