Krypton Evening News | WeChat establishes an e-commerce product department to explore new transaction models within WeChat; Wondershare Technology will showcase four AI achievements at the GITEX Europe Exhibition; The 2025 legislative work plan of the Standing Committee of the National People's Congress is announced.
Large Companies:
36Kr learned that Tencent released its financial report for the first quarter of 2025. The report shows that in the first quarter, thanks to the excellent performance of "PUBG MOBILE" and Supercell games, Tencent's international game revenue increased by 23% year-on-year to 16.6 billion yuan, hitting a new historical high for three consecutive quarters. Recently, the national government has actively encouraged domestic game manufacturers to develop high-quality games and "go global." According to the "Work Plan for Accelerating the Comprehensive Pilot Program of Expanding the Opening-up of the Service Industry" approved by the State Council, it is mentioned that the game export business should be developed, and the industrial chain from IP creation to game production, distribution, and overseas operation should be laid out. Tencent's domestic game revenue reached 42.9 billion yuan, a year-on-year increase of 24% compared with the low base of the same period last year, thanks to the revenue growth of "Honor of Kings" and "Peacekeeper Elite," as well as the revenue contribution of the recently launched "Dungeon & Fighter: Origins" and "Delta Force."
WeChat Establishes E-commerce Product Department to Explore New Transaction Models within WeChat
Tencent issued an internal letter to all employees today regarding the adjustment of the WXG business group. The main contents include: establishing an e-commerce product department to be responsible for exploring new transaction models within WeChat, accelerating the development of transaction infrastructure and transaction ecosystem, and operating new WeChat transaction models; renaming the Open Platform Basic Department to the Open Platform Department, which will be responsible for the planning, R & D, and operation of WeChat official accounts and mini-programs. (Sina Technology)
Wondershare Technology to Showcase Four AI Achievements at GITEX Europe
36Kr learned that from May 21st to 23rd, GITEX EUROPE, the largest technology event in Europe, will be held at the Berlin Exhibition Center in Germany. As a representative of Chinese AI companies, Wondershare Technology will compete with international enterprises such as Amazon Web Services, IBM, and NVIDIA, demonstrating the global innovation strength of intelligent creative tools. At this exhibition, Wondershare Technology will bring the latest AI achievements of its four flagship creative software, including Wondershare Filmora, Wondershare PDFelement, Wondershare EdrawMax, and Wondershare EdrawMind, to showcase its innovation achievements. During the exhibition, Wondershare EdrawMax is expected to release a new version.
GlaxoSmithKline to Acquire BP Asset IX for Up to $2 Billion to Obtain Fatty Liver Disease Drug
GlaxoSmithKline and Boston Pharmaceuticals announced on May 14th that they have reached an agreement. GlaxoSmithKline will acquire BP Asset IX, a subsidiary of Boston Pharmaceuticals, to obtain the marketing rights of Efimosfermin. Efimosfermin is an investigational specialty drug ready for Phase III clinical trials, used to treat steatohepatitis (SLD). According to the agreement, GlaxoSmithKline will pay a $1.2 billion upfront payment and may pay up to an additional $800 million in milestone payments. (Jiemian)
36Kr learned that on May 14th, Hao Shan, an animation director who has participated in many well - known domestic and international film and television works such as "Ne Zha: Reborn," "Monster Hunt," "The Mitchells vs. The Machines," and "Onmyoji," officially joined Alibaba Big Entertainment and established the Chaoran Qile Director Studio. It is understood that as the first animation director studio of Alibaba Big Entertainment, the Chaoran Qile Studio will focus on the development of original animation content in the future, aiming to create a series of high - quality animation works with original stories and worldviews. Currently, 1 - 2 original IPs of the Chaoran Qile Studio have entered the incubation process.
Investment and Financing:
36Kr exclusively learned that on May 14th, Carl Power announced the completion of Series A+ financing. Since 2025, Carl Power has raised nearly 300 million yuan in total. The investors include Ordos State - owned Investment Group, Shenzhen Capital Group, Shaanxi Automobile Fund, Ceyuan Ventures, and other scenario - based investors. With the financing funds and solid strategic cooperation, Carl Power will promote the large - scale implementation of L4 - level autonomous freight unmanned commercial operations and accelerate the delivery and deployment in more logistics scenarios across the country. Currently, the company is conducting L4 - level autonomous mixed intelligent formation tests and regular operations in regions represented by Ordos City in North and Northwest China, covering 7 cities and 20 customers across the country.
36Kr learned that recently, Zhejiang Junliang Supply Chain Technology Service Co., Ltd. announced the completion of 10 million yuan in angel - round financing. This financing will be used for technology R & D, market expansion, and team building to further optimize its digital risk control system and supply chain financial service platform. It is understood that the company focuses on supply chain financial technology services, providing efficient and flexible financing solutions for small, medium, and micro - enterprises through technologies such as big data and blockchain, and facilitating the capital flow between upstream and downstream of the industrial chain.
Other Noteworthy News:
2025 Legislative Work Plan of the Standing Committee of the National People's Congress Released
36Kr learned that in 2025, the Standing Committee of the National People's Congress plans to continue deliberating 14 legal bills, including the Private Economy Promotion Law, the Anti - Unfair Competition Law (Amendment), and the Financial Stability Law. The Standing Committee plans to conduct the first deliberation on 23 legal bills, including the Financial Law, the National Development Planning Law, the Law of the People's Bank of China (Amendment), and the Banking Supervision and Administration Law (Amendment). The preparatory deliberation items include the State - owned Assets Law (considering the amendment of the Enterprise State - owned Assets Law together), the Telecommunications Law, and the Consumption Tax Law. For legislative projects related to governing online illegal activities and the healthy development of artificial intelligence, relevant parties should carry out research and drafting work as soon as possible and arrange deliberation as appropriate.
36Kr learned that according to the National Railway Administration, on May 13, 2025, Fei Dongbin, Director of the National Railway Administration, met with Colombian Minister of Transport Rojas in Beijing. The two sides had in - depth exchanges on issues such as strengthening China - Colombia railway exchanges and cooperation and promoting the development of Colombia's rail transit infrastructure. Fei Dongbin said that he was very glad to participate in the Fourth Ministerial Meeting of the China - Latin America and the Caribbean Forum with Minister Rojas. The National Railway Administration of China attaches great importance to railway cooperation with Latin American countries such as Colombia and will continue to uphold an open attitude to continuously expand and deepen railway cooperation with Colombia. As the government department of the Chinese railway industry, the National Railway Administration is willing to strengthen communication and exchanges with the Colombian Ministry of Transport in railway planning and construction, operation management, and industry supervision, carry out mutually beneficial cooperation, and actively support Chinese enterprises to participate in Colombia's railway, rail, and other transportation infrastructure projects.
36Kr learned that according to the National Development and Reform Commission, on May 14, 2025, witnessed by the heads of state of China and Colombia, Zheng Shanjie, Director of the National Development and Reform Commission, signed a cooperation plan on building the "Belt and Road" with relevant Colombian departments and announced the signing of an exchange and cooperation document in the field of economic development. The two sides signed the "Cooperation Plan between the Government of the People's Republic of China and the Government of the Republic of Colombia on Jointly Promoting the Construction of the Silk Road Economic Belt and the 21st - Century Maritime Silk Road," promoting practical cooperation in various fields under the cooperation plan of building the "Belt and Road" to achieve mutual benefit and win - win results. The two sides also signed the "Memorandum of Understanding on Exchange and Cooperation in the Field of Economic Development between the National Development and Reform Commission of the People's Republic of China and the Ministry of Trade, Industry, and Tourism of the Republic of Colombia," which will carry out policy sharing and experience exchanges in fields such as macro - economy, the "Belt and Road" Initiative, economic and trade investment, sustainable development, and digital economy.
China Successfully Launches Space Computing Satellite Constellation
Today, China successfully launched a space computing satellite constellation into space using a Long March 2D carrier rocket at the Jiuquan Satellite Launch Center. The satellites have successfully entered the predetermined orbit, and the launch mission was a complete success. (CCTV News)