At 8 a.m., Here's the Latest News | Pop Mart's shares were completely sold off by founding shareholders at a high price; South Korea revised the rules due to the Ke Jie incident; Xiaomi apologized for restricting the horsepower of the SU7 Ultra.
Going Public in Progress
Junda Co., Ltd.
36Kr learned that Junda Co., Ltd. announced that the company is carrying out relevant work for the issuance of shares (H shares) overseas and listing on the Main Board of the Hong Kong Stock Exchange. The number of H shares to be issued in the company's global offering this time is 63.4323 million shares (assuming the over - allotment option is not exercised). Based on the issue price of HK$22.15 per H share, the estimated net proceeds from the global offering that the company will receive are approximately HK$1.29 billion. With the approval of the Hong Kong Stock Exchange, the 63.4323 million H shares issued by the company (assuming the over - allotment option is not exercised) were listed and traded on the Main Board of the Hong Kong Stock Exchange on May 8, 2025.
Top 3 Big News
Pop Mart Shares Cleared by Founding Shareholders at High Prices, Involving About HK$2.2 Billion, Fengqiao Capital Responds
Recently, there were reports that the "major shareholder sold Pop Mart shares through block trades multiple times", with a total of about 11.91 million shares, accounting for about 0.9% of Pop Mart's total share capital, involving about HK$2.2 billion. On May 7th, Fengqiao Capital issued a statement on its official WeChat account, saying that "due to the upcoming expiration of Fengqiao RMB Fund I, Fengqiao Capital cleared all Pop Mart shares purchased before the listing through three block trades in the past week. From now on, the fund will no longer hold any Pop Mart stocks." Pop Mart closed down 5.43% at HK$184.5 on May 7th. (China Youth Daily)
South Korea Changes Rules Due to Ke Jie Incident
On May 7th, South Korea released the latest version of the "Go Competition Regulations" (to be implemented on July 1st, 2025). The new rules clearly state that for the act of not placing captured stones on the lid of the stone container (if the lid cannot hold them, they can be placed around the lid and must be visible to the opponent), the referee can issue a "warning"; if the "warning" is accumulated twice, the referee will directly declare an "admonition" and impose a penalty of 1 point.
In the decisive game of the best - of - three finals of the 29th LG Cup World Go King Tournament held in January, Chinese Go player Ke Jie was again judged to have violated the rules by the South Korean side for not putting the captured stones on the lid of the stone container, following the second game. Moreover, the timing of the referee's interruption of the game was controversial. Ke Jie did not accept the penalty result and chose to forfeit the game. The South Korean side announced that South Korean Go player Byun Sang - il won the championship. Subsequently, the Chinese Go Association issued a statement, believing that the referee's interruption timing was inappropriate, which affected the normal progress of the game, and the player was overly interfered with by the referee and could not continue to complete the game. (Sina Sports)
Xiaomi Auto Apologizes for Limiting Horsepower of SU7 Ultra: Failed to Sufficiently Solicit Opinions, Pauses Push
On May 1st, multiple owners of Xiaomi SU7 Ultra posted that after updating the vehicle's infotainment system, the 1,548-horsepower function was disabled, and it could only be unlocked after meeting the lap time standard on the official race track. Late on May 7th, Xiaomi Auto apologized for this incident, stating that it had paused this push. For the small number of users who had already upgraded, the issue would be resolved in the next version update. Currently, the development and testing of the new version have begun, which is expected to take 4 - 8 weeks. The specific time shall be subject to the official notice from Xiaomi.
Xiaomi Auto said that the original intention of the design was to better ensure driving safety, but it failed to sufficiently solicit everyone's opinions and did not communicate and explain the relevant functions well. There were indeed inappropriate aspects in the work. This incident has made Xiaomi Auto deeply realize that any major update involving the user experience must be based on full communication. In the future, a more complete user opinion collection mechanism will be established to fully listen to users' opinions. (Yangtze Evening News)
Big Companies/Big Events
Bill Gates Announces He Will Donate Almost All His Wealth: The Foundation Is Set to Cease Operations in 2045 and Will Donate $200 Billion in the Next 20 Years
On May 8th local time, the Gates Foundation announced that it is committed to investing $200 billion over the next 20 years to accelerate the achievement of its mission to help people lead healthy and productive lives. This decision marks a significant acceleration of the foundation's work and sets a new date of 2045 for it to cease operations. Previously, the bylaws of the Gates Foundation stipulated that the foundation would cease operations 20 years after Gates' death. (Jiemian News)
SK Telecom Says It Faces Potential Losses of $5 Billion Due to Massive Data Breach
The CEO of South Korea's SK Telecom said on Thursday that the company could face losses of up to 7 trillion won (about $5 billion) over the next three years due to revenue losses after a major data breach and potential waivers of early termination fees for users. The incident has shaken consumer confidence. He said, "Since the incident, 250,000 subscribers have left. This number could soon reach 2.5 million." "If 5 million users terminate their contracts each month, we expect losses of 7 trillion won over the next three years, including waived termination fees and revenue losses." (Sina Finance)
Staff responds to the crowded Hetian jade counter at Fat Donglai: Everyone comes here out of admiration, but the supply is limited
For several days, the sales at the Hetian jade counter of Fat Donglai have been booming. Many purchasing agents said that the Hetian jade is usually sold out before noon these days. On May 8th, a staff member in the jewelry area of Xuchang Fat Donglai Times Square told reporters that currently, the Hetian jade sales have switched to an online appointment system, allowing only one appointment per month, while for jadeite and other items, customers still need to queue up on - site to get a number. The staff member said that there are a total of 50 spots per day. Affected by relevant online incidents, more and more customers are coming. "Everyone thinks our products are genuine and come here out of admiration, but the supply is limited." Previously, the internet celebrity "Chai Duidui" questioned the price and quality of Fat Donglai's jade. The local relevant departments in Xuchang conducted an inspection on Fat Donglai's jade, and the results showed that the average gross profit margin was no more than 20%. Currently, all the on - sale Hetian jade products are clearly priced as required. (Jiupai News)
Reports: Google Lays Off About 200 Employees in Global Business Unit
According to The Information, citing people familiar with the matter, Google laid off about 200 employees in its global business unit on Tuesday. This unit is responsible for sales and partnerships. In recent years, large technology companies have been shifting their spending towards data centers and artificial intelligence development while scaling back investments in other areas. Google responded in a statement that it is making minor adjustments to various teams "to drive greater collaboration and expand our ability to serve customers quickly and effectively." (Sina Finance)
Netizens claim to have bought adulterated gold bars at ICBC, and the bank responds: Verification is underway
On May 7th, some netizens claimed that a friend had bought gold bars at ICBC and found impurities inside the gold bars, which attracted attention. The chat records show that a netizen said in a WeChat group, "Guys, the gold bars my friend bought from the bank look like this after melting, and the attitude of the branch is very tough." In the pictures, the words of ICBC Shanghai Nanxiang Sub - branch were mentioned on two gold bars. The gold bars were cut in the middle, and there seemed to be impurities inside. The netizen also said that on May 6th, the financial regulatory authorities had contacted his friend.
On May 8th, a reporter contacted the bank. A staff member said, "We are further verifying this matter and will not make any response for the time being." "A special person will respond to the subsequent progress of verification and handling." (Huashang Daily, Phoenix Weekly)
The peak season for Christmas product orders has arrived early. Yiwu merchants: Orders are already scheduled until June
As the world's largest distribution center for Christmas products, the Christmas products exported from Yiwu, Zhejiang, account for nearly 80% of the global Christmas product market. Currently, the Yiwu International Trade City is gradually entering the peak season for Christmas product orders, and merchants and manufacturers are actively "preparing for battle" to ensure that these Christmas products are placed on the shelves in Europe, America, and other countries and regions in November. A merchant in the Yiwu International Trade City said, "This is related to the international market situation. Customers placed orders earlier this year than in previous years. In previous years, we usually started shipping in April, but this year we started in February and March. The orders for our factory are already scheduled until early June." (CCTV News)
Lei Jun Responds in the Comment Section: Will Resume Fitness Check-ins Soon
Lei Jun, the founder, chairman, and CEO of Xiaomi, posted on social media on May 8th, revealing that the mass-produced version of the Xiaomi SU7 Ultra is challenging the Nürburgring circuit. A netizen left a comment saying, "Good morning. How long has it been since your last fitness check-in?" Lei Jun responded that he would resume fitness check-ins as soon as possible.
On March 29th, a tragic car accident on the Chiqi section of the Dezhou-Shangrao Expressway in Anhui Province pushed Xiaomi's cars and its founder, Lei Jun, into the spotlight of public opinion. After the accident, Lei Jun's social media style changed abruptly. After posting his 41st gym check-in on March 30th, his fitness updates suddenly stopped. At the beginning of 2025, he set a goal on Weibo to "check in at the gym 100 times" and often shared photos and experiences of his fitness routine. (JRJ.com)
Jensen Huang Says Missing the Chinese AI Market Would Be a Huge Loss, US Media: A Clear Call for the US to Reevaluate Its Chip Restrictions on China
Jensen Huang, the president and CEO of NVIDIA, said in an interview with US media on the 6th that the scale of the Chinese artificial intelligence market could reach approximately $50 billion in the next two to three years. He added that missing out on this opportunity would be a "huge loss." Huang visited China in late April, which was his second trip to the country this year. At an event held in Las Vegas, the US, on the 6th of this month, Huang told CNBC that as a US company, being able to sell products to China would bring revenue and taxes to the US and create a large number of jobs. (Global Times)
Some hospitals tend not to recruit 4+4 graduates
In recent days, an incident initially about the private morality of Dr. Xiao from the China-Japan Friendship Hospital has sparked a heated public discussion about the medical talent cultivation model. This is because the involved person, Dong, graduated from the "4+4" clinical medicine cultivation model reform pilot class of Peking Union Medical College. The public's doubts about the "4+4" pilot class at Union Medical College mainly focus on two points: First, whether the admission threshold is too low; second, whether doctors trained by compressing the original eight-year or longer medical professional study into four years have sufficient clinical capabilities.
Yang Yang, a medical school doctor close to the "4+4" pilot class at Union Medical College, said that what makes many medical students dissatisfied with the "4+4" model is that their research abilities fail to meet the requirements of a doctorate, yet they obtain the MD degree just like other doctors. Many students interviewed revealed that in recent years, some hospitals have tended not to recruit eight-year program and "4+4" students during recruitment. Many experts pointed out that the public's doubts actually reflect the structural dilemma that has persisted in Chinese medical education for many years. (China Newsweek)
Trump Lashes Out at Powell Again for Not Cutting Interest Rates
US President Donald Trump criticized Federal Reserve Chairman Jerome Powell again on Thursday, calling him a "fool" and complaining about the Fed's refusal to cut interest rates. Trump has launched an almost continuous attack on Powell in recent weeks. He once threatened to fire him and then retracted the threat. He has repeatedly lashed out at Powell on his social media platform, even calling him a "total loser" in one post. Trump said that an interest rate cut would "fuel the economy like jet fuel," but "he (Powell) doesn't want to do it." He also said that Powell "doesn't like me." Earlier last week, Trump made remarks suggesting that he knows more about interest rates than Powell and said that he "is not a big fan of Powell." (Sina Finance)
Fujifilm Responds to a Pack of Peel-apart Film Being Sold for Over 300 Yuan: Some Collectors May Be Selling at High Prices to Gain Traffic
According to reports, recently, peel-apart film has quickly become popular online and has become a hot topic in the photography circle. Thanks to the "same-style effect" of celebrities and its unique "atmosphere", even though the price of a single shot is as high as over 300 yuan, its popularity remains high. Polaroid and Fujifilm, the main manufacturers of peel-apart film, announced the discontinuation of production in 2008 and 2016 respectively, resulting in the situation where "every shot means one less piece". It is understood that the price of these expired photo papers on second-hand platforms has now risen to 2000 yuan, which forms a huge contrast with the price of only 70 yuan for a box of 10 pieces of peel-apart film photo paper before the discontinuation of production.
On May 7th, a reporter contacted Fujifilm (China) Investment Co., Ltd. in the capacity of a consumer. The staff said that Fujifilm's peel-apart film photo paper was discontinued, possibly due to reasons such as high costs and bulky facilities, and there is no official purchasing channel. Currently, all the Fujifilm peel-apart film photo paper sold on the market is from inventory. Some collectors are selling expired films at high prices, which may be to gain traffic. At the same time, due to the expiration of the photo paper, there are problems with imaging and quality. (Jing Shi Live)
Meitu Xiuxiu Officially Launches HarmonyOS Desktop Version
36Kr learned that at the HarmonyOS PC Technology and Ecosystem Communication Conference, Meitu Xiuxiu officially launched its HarmonyOS desktop version, bringing a more convenient and efficient AI photo - editing and AI image - modification experience for HarmonyOS PC users. It is reported that the HarmonyOS desktop version of Meitu Xiuxiu mainly focuses on four core functions: AI removal, intelligent image matting, AI image sharpening, and seamless text modification, aiming to comprehensively improve the image - editing efficiency and experience of HarmonyOS PC users.
GoTo Responds to Acquisition Rumors: No Decision Made
On May 8th, in response to reports that "Southeast Asian ride-hailing giant Grab is seeking to reach a deal to acquire its Indonesian rival GoTo in the second quarter," GoTo stated that it has not made any decisions regarding any proposals it may have learned about or received. In March this year, there were reports that Grab was advancing the acquisition of GoTo and had begun due diligence. At that time, GoTo responded that it had not reached an agreement with any party regarding any potential acquisitions. (Jiemian News)
SF Express Denies Purchasing Domestic C919 Freighters
In response to the online rumor that SF Airlines is purchasing 10 domestic C919 freighters, it was learned from SF Express that this is a false message. Currently, the freighter version of the C919 has not been developed, while the domestic C909 freighters have already been received by customers. (Yicai Global)
Japanese Rice Prices Hit New Highs for 17 Consecutive Weeks, with 5 Kilograms Costing about 213 RMB
The latest data released by the Ministry of Agriculture, Forestry and Fisheries of Japan on May 7 shows that Japanese rice prices have hit new highs for 17 consecutive weeks. In the week ending April 27, the average price of a 5-kilogram bag of rice on the market was 4,233 yen (equivalent to about 213 RMB), more than twice that of the same period last year. (CCTV News)
Binance founder Changpeng Zhao confirms applying for pardon from Trump
Changpeng Zhao, the founder and former CEO of cryptocurrency exchange Binance, said on a podcast on Monday that he had formally applied for a pardon from the Trump administration two weeks ago. Zhao said he submitted the application after media reports about his seeking a pardon were published. He was referring to two reports in March that said he hoped to get a pardon in exchange for doing business with the Trump family. "I thought, if they're writing about it, we might as well apply formally," he said. (Sina Finance)
The forefront of AI
WHEE and Zcool Jointly Launch Exclusive AI Tool "Small Material Generator"
36Kr learned that WHEE, an AI visual creation tool under Meitu, and Zcool, a visual creative platform, have jointly launched an exclusive AI tool for designers called "Small Material Generator". According to the introduction, the "Small Material Generator" supports one-click generation of non-matted and similar materials, empowering the design efficiency of small materials with AI creation. At the same time, six professional style templates, including 3D resin, 3D trendy, flat gradient, cartoon flat, flat illustration, and modern watercolor, were launched for the first time. The generator has self-developed a LoRA model tailored to the professional standards of designers, which is suitable for multiple scenarios such as e-commerce, UI, and graphic design. It supports the intelligent extension and style transfer of AI-generated materials, achieving an overall improvement in the efficiency of the "generation - application - iteration" process.
Quark, the flagship AI application of Alibaba, releases a new product, "Deep Search"
36Kr learned that on May 8th, Quark upgraded its AI Super Box and newly launched the "Deep Search" product. Through its deep thinking ability, intelligent retrieval technology, and precise answering function, it solves diverse and complex problems for users with a "high search quotient". In addition, the AI Super Box of Quark also iterated the "Intelligent Image Processing" function. It is understood that Quark will also launch new products with stronger thinking ability, more Agent calls, and the ability to provide professional reports.
OpenAI Appoints New CEO
On the afternoon of May 8th, Sam Altman, co-founder and CEO of OpenAI, announced on social platform X that OpenAI has appointed a new CEO, Fidji Simo. Simo will serve as the CEO of OpenAI Applications, leading OpenAI's product, business, and other corporate functions, and will report to Altman. Altman mentioned in his blog that he will continue to oversee OpenAI's core research and infrastructure teams for AI development, leaving most of the remaining work of the company to Simo.
From 2011 to 2021, Simo worked at Meta, responsible for multiple products including Facebook. Subsequently, she joined Instacart, a developer of a fresh food delivery platform in the United States, and led the company to a successful IPO in 2023. She joined the OpenAI board of directors in September last year. In the next few months, Simo will resign from her position at Instacart and join OpenAI later this year. (Zhitongxi)
Financial Reports of Large Companies
Uni-President: After-tax net profit in the first quarter was NT$5.157 billion, a year-on-year decrease of 6.8%
On May 8th, Uni-President Enterprises Corporation released its first-quarter business report. The consolidated revenue was NT$169.265 billion, a year-on-year increase of 6.6%; the after-tax net profit was NT$5.157 billion, a year-on-year decrease of 6.8%; the EPS was NT$0.91. (Jiemian News)
Huahong Corporation: Q1 Revenue Reaches $540.9 Million, Up 17.6% Year-on-Year
36Kr learned that Huahong Corporation released its Q1 financial report. The report shows that Huahong Corporation's net profit in the first quarter was $3.75 million, compared with an estimate of $25 million; its revenue in the first quarter was $540.9 million, up 17.6% year-on-year and 0.3% quarter-on-quarter, compared with an estimate of $547.6 million; its capital expenditure in the first quarter was $510.9 million, compared with an estimate of $574 million. Huahong Corporation expects its revenue in the second quarter to be between $550 million and $570 million.
SMIC: Net profit in Q1 reached 1.356 billion yuan, a year-on-year increase of 166.5%
36Kr learned that SMIC released its first-quarter financial report. The report shows that in the first quarter of 2025, the company achieved an operating income of 16.301 billion yuan, a year-on-year increase of 29.4%; the net profit attributable to shareholders of the listed company was 1.356 billion yuan, a year-on-year increase of 166.5%; the basic earnings per share were 0.17 yuan. For the second quarter, the company gave revenue guidance of a 4% to 6% sequential decline and gross margin guidance of 18% to 20%.
Nintendo's operating profit plunged 46.6% last fiscal year, and it expects a 13% increase in operating profit this fiscal year
Nintendo said on Thursday that it expects its operating profit to rise 13% to 320 billion yen ($2.22 billion) in the fiscal year ending next March. The Kyoto-based game company said it expects to sell 15 million units of the Switch 2 this fiscal year. In the fiscal year ended March this year, Nintendo's operating profit fell 46.6% to 282.5 billion yen. (Sina Finance)
Investment and Financing
ZhiTu Technology Secures Over 100 Million Yuan in Series B Financing
36Kr learned that recently, ZhiTu Technology, a leading player in commercial vehicle autonomous driving, completed the first - round delivery of over 100 million yuan in Series B financing. The investor is Anhui Huangshan State - Mixed Venture Capital Fund. The financing funds will be used to build an automotive intelligent product manufacturing center, continuously increase investment in end - to - end large models, intelligent driving safety technologies, etc., and further support the large - scale deployment of unmanned sanitation scenarios. It is understood that ZhiTu Technology plans to go public in the second half of this year.
Anhui Guobiao Intelligent Technology Co., Ltd. Completes 30 Million Yuan Series A Financing
36Kr learned that recently, Anhui Guobiao Intelligent Technology Co., Ltd. announced the completion of a 30 million yuan Series A financing, and the investor was not disclosed. The funds from this round of financing will be mainly used for the commercialization of quantum communication technology, the iteration of the aerospace information perception system, and the research and development of the biological computing platform, accelerating the construction of the intelligent economic infrastructure integrating "technology - industry - ecosystem".
36Kr Big Events
The "Kr Big Events" short - video column provides a vivid interpretation of major events in the business world. With a 300 - million investment from Tencent and a tenfold surge in profits, how did Pechoin rise?
Who Will Be the Last Laughing in the Food Delivery Tripartite Battle?
Meituan and JD are in a fierce battle, and Taobao has entered the fray with full force. The food delivery market is heating up again! From a two - horse race to a three - way standoff, the competition in the supply chain, rider rights, and price wars has fully escalated. How will this battle in the multi - billion - dollar market reshape the industry landscape? Why are the tech giants flocking to this red - ocean market?
At 7 p.m. this Friday (May 9th), 36Kr has invited Yu Dongqi, the former COO of Sina Digital Technology and the founder of New Ability Consulting, and Luo Chao, the founder of Lei Technology and the host of the Luo Chao Channel, to jointly analyze the speculation of the "food delivery tripartite battle" from the melee of giants to the final outcome. Hurry up and make an appointment to watch!
Compiled | Guo Zihe