At 8 a.m., Here's the Latest News: Lei Jun Issues a Statement in Response to the Accident Where the SU7 Collided and Caught Fire, Causing Three Deaths; Elon Musk Will Resign from His Position at the Department of Government Efficiency; Heytea Responds to Allegations of Plagiarism
Top 3 Big News
Lei Jun Issues Statement in Response to the Fatal Collision and Explosion of Xiaomi SU7, Xiaomi Releases Incident Details
36Kr learned that the spokesperson of Xiaomi Corporation posted on Weibo, saying, "At 22:44 on March 29, 2025, a standard - version Xiaomi SU7 was involved in a serious traffic accident while traveling on the Chiqi section of the Deshang Expressway. We deeply regret this." According to preliminary information, before the accident, the vehicle was in the NOA intelligent assisted - driving state and was continuously traveling at a speed of 116 km/h. Due to road construction and renovation on the section where the incident occurred, the lane was blocked with roadblocks and traffic was diverted to the oncoming lane. After the vehicle detected an obstacle, it issued a warning and started to decelerate. Subsequently, the driver took over the vehicle and switched to manual driving, continuously decelerating and steering the vehicle. Then the vehicle collided with a concrete pile on the median strip. The last confirmed speed of the vehicle before the collision was approximately 97 km/h.
It is reported that this accident resulted in the deaths of three people. After the accident, some people claiming to be the families of the victims posted on video platforms, stating that the Xiaomi SU7 caught fire and exploded after the traffic accident, and "the car locks did not unlock, and they were unable to open the car doors to escape."
In response, on April 1, a staff member of the Traffic Police Detachment of the Tongling Public Security Bureau told China Newsweek that the incident was under investigation. On the evening of April 1, Lei Jun, the Chairman and CEO, issued a statement in response to the Anhui SU7 accident, representing Xiaomi in promising that no matter what happens, Xiaomi will not shy away. It will continue to cooperate with the police investigation, follow up on the progress of the incident handling, and make every effort to respond to the concerns of the families and society. (China Newsweek, The Paper)
Elon Musk Announces Resignation from the U.S. Department of Government Efficiency, Previously Questioned Abnormal Wealth of U.S. Congress Members
Elon Musk plans to resign from his position at the U.S. Department of Government Efficiency (DOGE) by the end of May. In an interview with Fox News, Musk said that he is confident in achieving the goal of cutting the federal deficit by $1 trillion before leaving. He also emphasized that the government is inefficient, with a lot of waste and fraud, and he is confident that spending can be reduced by 15% without affecting key services. In addition, Musk questioned the phenomenon of the abnormally high wealth of Congress members. He pointed out that many Congress members have an annual salary of only $200,000 but own properties worth up to $20 million, and questioned how they could accumulate such a huge amount of wealth on their limited incomes.
On April 1st local time, Donald Trump said that he expects Elon Musk to eventually return to his own company after reforming the federal government. When asked if he hoped Musk would stay in his position longer, Trump said, "I think he's amazing, but I also think he has to run a big company. One day he'll go back. He also wants to go back. As long as I can keep him, I will. He's a very talented person." (Economic Observer, Litchi News)
Heytea Responds to Allegations of Plagiarism: Internal Investigation and Process Review Underway
Recently, Xia Zheng, the founder of the cultural tea brand Yinian Caomu Zhong (hereinafter referred to as "Yinian"), claimed that Heytea allegedly plagiarized Yinian's works twice. In a video, she said that the spring tea video released by Heytea in March 2025 was highly similar to the one released by Yinian in March last year. Additionally, the name and the kite concept of Heytea's "Swallows Return" event were very similar to Yinian's products launched in 2023.
In response, a Heytea customer service representative stated that the visual design of Heytea's "Swallows Return" was a joint creation between Heytea and Mr. Miao Bogang, the representative inheritor of the national intangible cultural heritage project of Cao Xueqin Kites and the brand manager of Cao Xueqin Kites. Both the kite image and the poster design were original works of Heytea and Mr. Miao. Regarding other issues, Heytea has launched an internal investigation and process review, and is actively contacting the video publisher to resolve the relevant issues properly.
A customer service representative from Yinian's official flagship store said that although Yinian's marketing influence is far less than that of Heytea, necessary clarifications are still needed. By the time the founder's video was released, Heytea had deleted the spring tea video, but had not yet removed the "Swallows Return" content. (Phoenix Finance)
Large Companies/ Major Events
China Successfully Launches Satellite Internet Technology Test Satellite
At 12:00 Beijing Time on April 1st, China successfully launched a satellite internet technology test satellite into space from the Jiuquan Satellite Launch Center using a Long March 2D carrier rocket. The satellite has smoothly entered the preset orbit, and the launch mission was a complete success. The satellite is mainly used for conducting technical test verifications such as direct broadband connection between mobile phones and satellites and the integration of space and ground networks. (CCTV News)
ByteDance Loosens Recruitment Years Limit and Plans to Increase Recruitment of Young Talents
ByteDance recently held an internal policy meeting, requiring recruitment to "break through the dependence on experience". It should not only recruit experienced people but also more outstanding fresh graduates. This year, it plans to double the recruitment of young talents who graduated within three years, and the proportion of social recruitment for those with more than three years of work experience will remain at 70% of the annual social recruitment. ByteDance internally requires that the focus should be on the essence of talents, and candidates' job levels and salary increases should not be restricted due to the issue of work years. The internal code name for this project is "Steady Progress", encouraging employees to recommend candidates with work experience of less than three years. Previously, ByteDance also increased the intensity of campus recruitment. Industry insiders analyzed that this move may be to attract more outstanding young talents to cope with the increasingly fierce market competition environment. (The Paper)
Nokia's President and CEO Changes Hands
Nokia's leadership saw a "change of leadership" on April 1st. Justin Hotard officially succeeded Pekka Lundmark as the President and CEO of Nokia. According to IT Home, Hotard previously served as the head of Intel's DCAI business group. He will "leverage his more than 25 years of experience in international technology companies" to lead Nokia forward. Currently, Hotard has added Nokia-related content to his LinkedIn account. (IT Home)
Bill Gates Says He'll Leave Less Than 1% of His Wealth to His Children
Microsoft co-founder Bill Gates recently reiterated that he will leave only a small portion of his wealth to his children. During a podcast interview this week, he said, "In my case, my kids have had a great upbringing and education, but they'll get less than 1% of the total wealth because I don't think it's helpful to them." "This is about inheritance," Gates said. "I'm not asking them to manage Microsoft. I want to give them a chance to have their own income and success." Gates added that he hopes his children can become "significant" on their own merits, rather than being "overshadowed by the amazing luck and good fortune that their father has had." (Sina Finance)
First - ever flight of a SpaceX crewed spacecraft around the Earth's poles in history
At 21:46 on March 31st, Eastern Time in the United States, American aerospace company SpaceX successfully launched a Falcon 9 rocket from the Kennedy Space Center in Florida, sending a private crewed space mission named "Fram2" into the Earth's polar orbit. This is the first time in human history that a crewed spacecraft has flown around the Earth's poles. It is reported that four private astronauts will explore the Earth from the polar orbit and fly over the Earth's polar regions for the first time. (CCTV News)
The delivery volume of Xiaomi SU7 exceeded 29,000 units in March
36Kr learned that data released by Xiaomi Auto showed that in March 2025, the delivery volume of Xiaomi SU7 exceeded 29,000 units. Xiaomi Auto said that the current production capacity improvement is progressing smoothly, and it is confident to achieve the annual delivery target of 350,000 units.
Tesla's market value evaporated by over $460 billion in the first quarter
On March 31 local time, the U.S. stock market ended a volatile quarter. On a quarterly basis, the S&P 500 index fell 4.6%, ending its five - quarter consecutive upward trend; the Nasdaq dropped 10.4%, marking the largest quarterly decline since the 22.4% plunge in the second quarter of 2022; the Dow Jones Industrial Average fell 1.3%. Among the seven major technology giants in the U.S. stock market, Tesla tumbled 35.84% cumulatively in the first quarter, with its total market value evaporating by over $460 billion; NVIDIA dropped 19.29%, Google declined 18.27%, Amazon fell 13.26%, Apple decreased 11.25%, Microsoft slipped 10.88%, and Meta dropped 1.51%. (Oriental Finance)
Dada: Signs Definitive Agreement for Privatization Transaction with JD, ADS to Be Cancelled
Dada announced in a statement that it has signed an agreement and a merger plan with its parent company, JD Sunflower Investment Limited, and JD Sunflower Merger Sub Limited, a wholly - owned subsidiary of the parent company. Merger Sub will be merged into Dada, and Dada will be the surviving company and become a wholly - owned subsidiary of the parent company. The parent company is wholly owned by JD.
The announcement stated that Dada expects to complete the transaction within the third quarter of this year. When the merger becomes effective, Dada's ADS will be cancelled. (Jiemian News)
Samsung Electronics Announces Roh Tae-moon as Acting Head of Device Experience Division
On April 1st, Samsung Electronics announced that Roh Tae-moon, head of the Mobile eXperience (MX) business, will serve as the acting head of the Device eXperience (DX) division. The former head of the DX division was Han Jong-hee, the late vice chairman and co-CEO of Samsung Electronics, who passed away at the end of last month. The DX division of Samsung Electronics includes multiple business units such as the Visual Display (VD) Business, Digital Appliances (DA) Business, Mobile eXperience (MX) Business, Networks Business, and Medical Equipment Business. (Jiemian News)
Japanese Financial Regulator Plans to Reclassify Cryptocurrencies as Financial Products
According to media reports on March 31, the Financial Services Agency (FSA) of Japan plans to promote legislative reforms to reclassify crypto - assets such as Bitcoin and Ether as financial products. The current Payment Services Act only regards cryptocurrencies as a means of payment rather than an investment target, leaving insider trading and other activities in the Japanese crypto market in a long - term regulatory vacuum. According to a report by Nikkei Asia, after organizing a closed - door discussion among experts, the FSA plans to submit an amendment to the Financial Instruments and Exchange Act to the National Diet by 2026. It is reported that the agency said last year that it would launch a comprehensive assessment of cryptocurrency regulatory rules in the coming months, focusing on examining the regulatory effectiveness under the current payment regulatory framework. (Sina Finance)
Midea's Chairman Says 95% of Overtime Is Just for Show
On April 1st, Li Bin, the Chairman and CEO of NIO, posted on Weibo the content of a conversation with Fang Hongbo, the Chairman of Midea. When talking about corporate management, Li Bin said, "I've also told my colleagues within the company not to use PPTs for reports. Sometimes, just bring over documents or reports and simply state the points. Don't engage in such formalistic practices." Fang Hongbo said, "Whether to use PPTs, whether to work overtime or hold meetings - these are actually just symbols. Over 95% of overtime work is just for show. Considering the current changes in the global economic and market environment, we believe that the core focus this year is to promote growth through simplification." (IT Home)
During the Tomb-Sweeping Festival holiday, the average daily number of inbound and outbound travelers at national ports will reach 2.1 million
36Kr learned that according to a message from the National Immigration Administration on April 1st, during this year's Tomb-Sweeping Festival holiday, the average daily number of inbound and outbound travelers at national ports will reach 2.1 million, a 21.4% increase compared with the same period last year. The inbound and outbound passenger flow at large international airport ports such as Beijing Capital, Shanghai Pudong, Guangzhou Baiyun, Hangzhou Xiaoshan, and Chengdu Tianfu will see a slight increase. It is estimated that the average daily number of inbound and outbound travelers will be 39,000, 81,000, 48,000, 12,000, and 16,000 respectively. The passenger flow at land ports adjacent to Hong Kong and Macao will increase rapidly, and the number of Hong Kong, Macao and Taiwan residents and overseas Chinese returning to their hometowns to pay homage to their ancestors will increase significantly.
Apple Caught in Another False Advertising Storm: Class - action Lawsuit Against iPhone 16's AI Features in Canada
Apple is facing a class - action lawsuit in British Columbia, Canada, for allegedly making false claims about the AI features of the iPhone 16. The lawsuit states that Apple promised advanced artificial intelligence capabilities for the iPhone 16 series in its marketing, but these features were not actually delivered. (IT Home)
The tax authorities recovered 899 million yuan in unpaid taxes from online streamers last year
On April 1st, data released by the tax authorities showed that in 2024, inspections were carried out on 169 online streamers, and a total of 899 million yuan in unpaid taxes was recovered, effectively regulating the tax order of the industry and promoting its healthy development. (Yicai Daily)
The Cutting - Edge of AI
Sam Altman: ChatGPT Image Generation Feature Now Available to All Free Users
Sam Altman, the CEO of OpenAI, announced that the image generation feature of ChatGPT has been launched for all free users. (Jiemian News)
OpenAI plans to release a new "open-source" language model in the coming months
OpenAI said that "in the coming months," it intends to release its first "open-source" language model since GPT-2. This news comes from a feedback form the company posted on its website on Monday. OpenAI wrote on its website: "We're excited to work with developers, researchers, and the broader community to gather input and make this model as useful as possible. If you're interested in participating in a feedback session with the OpenAI team, please let us know in the form below." OpenAI plans to host developer events to collect feedback and showcase a prototype of the model in the future. The first event will be held in San Francisco in a few weeks, followed by similar events in Europe and the Asia-Pacific region. (Sina Finance)
Taobao's Jiaogeyou Friends Live Stream Launches First AI Robot Product Promotion Host
36Kr learned that Taobao's Jiaogeyou Friends Live Stream has launched its first AI robot product promotion host. It is understood that the model of this robot host is the G1 robot from Unitree Technology. Different from previous ones that only did action demonstrations, this time the robot appeared as a product promotion host in the live stream and independently explained the products. It promoted the Unitree Technology GO2 robotic dogs with a starting price of 9,997 yuan on - site, and dozens of robotic dogs worth a total of 1 million yuan were sold within one minute.
Financial Reports of Large Companies
Decathlon: Revenue increased by 5.2% year-on-year at constant exchange rates in 2024
36Kr learned that Decathlon Group released its 2024 performance report. In 2024, revenue increased by 5.2% year-on-year at constant exchange rates. Considering the adverse exchange rate impact, the actual revenue growth was 3.8%, and the total scale rose to 16.2 billion euros. Currently, Decathlon's business covers 79 countries and regions around the world. In China, within two years, the average annual number of newly opened and renovated stores is planned to reach 20 to 30. In India, it plans to inject 100 million euros within five years to increase the number of stores and supply capacity. In Germany, it plans to invest nearly 100 million euros by 2027 to open new stores and modernize existing ones.
Sinoma Energy Conservation: Net profit in 2024 was 7.6024 million yuan, a year-on-year decrease of 94.7%
36Kr learned that Sinoma Energy Conservation released its annual report for 2024, achieving an operating income of 2.324 billion yuan, a year-on-year decrease of 24.21%; the net profit attributable to shareholders of the listed company was 7.6024 million yuan, a year-on-year decrease of 94.7%. The company plans to distribute a cash dividend of 0.05 yuan (tax included) for every 10 shares to all shareholders.
Maifushi: The company achieved a revenue of 1.56 billion yuan in 2024, a year-on-year increase of 26.5%
36Kr learned that Maifushi released its annual report. The report shows that throughout 2024, the company achieved an operating revenue of 1.56 billion yuan, a year-on-year increase of 26.5%. Among them, the AI + SaaS revenue was 840 million yuan, with a gross profit margin as high as 86.3%.
Investment and Financing
"Zifu Rulin Education" Completes Tens of Millions in Angel Round Financing
36Kr learned that "Zifu Rulin Education" has completed tens of millions in angel round financing. This financing was jointly invested by three domestic institutions. It is reported that "Zifu Rulin Education" is a comprehensive education institution focusing on online and offline education and overseas study programs. Mr. Shao Pengbin, the founder of the company, said that this round of financing will be used for the construction of the online platform, the expansion of offline business, and talent recruitment, etc.
Cool Products
Unitree Releases Unitree Dex5 Dexterous Hand
Unitree updated a video on April 1st and released the Unitree Dex5 dexterous hand. In terms of performance, this dexterous hand has 20 degrees of freedom per hand (16 active + 4 passive), can achieve smooth reverse driving (direct body force control), and has 94 sensitive contact points per hand. (Caixin Press)
Compiled | Su Yuhan