At 9 a.m., here are the latest news: The official responds to the report of a large number of maggots found in Zhengxin Chicken Chop's chicken legs; The family of the elderly man who died after withdrawing money says they have reached a settlement with the Agricultural Bank of China; Fat Donglai's sales this month are close to one billion yuan.
Going public in progress
BioLight Sciences
36Kr learned that according to foreign media reports, BioLight Sciences is reportedly considering an IPO in Hong Kong.
Huadian New Energy
36Kr learned that the China Securities Regulatory Commission (CSRC) recently issued an approval for the registration of the initial public offering (IPO) of Huadian New Energy Group Co., Ltd., approving the company's registration application for listing on the main board of the Shanghai Stock Exchange.
Top 3 Big News
Official Response to the Incident of a Large Number of Maggots Found in Zhengxin Chicken Drumsticks
On May 15th, in Renhuai, Guizhou, a netizen posted a video claiming that a customer found a large number of maggots in the chicken drumsticks purchased from Zhengxin Chicken. In response, a clerk at the involved store told reporters that the customer bought the drumsticks in the morning and came back to return them in the afternoon. The store reported the incident to the police at that time. The customer has been compensated. The video was shot by onlookers, not the purchaser.
On May 16th, the Renhuai Market Supervision and Administration Bureau issued a notice: On May 16th, 2025, a video about "maggots all over the inside of Zhengxin Chicken drumsticks" appeared online, attracting public attention. Our bureau attaches great importance to this and immediately organized an investigation team to conduct an investigation in accordance with the law. After investigation, the involved store has all the necessary licenses. Our bureau has sealed and sent the same kind of products at the scene for inspection, and will conduct investigations and impose penalties in accordance with the law based on the inspection results. (Litchi News)
Family of Deceased Elderly Man Who Died During Withdrawal Says Reached Settlement with Bank
On May 14, a 62-year-old seriously ill elderly man in Zhuzhou, Hunan, needed to withdraw money urgently for medical treatment. The bank told him that he had to be present in person to make the withdrawal. Unfortunately, he passed away unexpectedly during the process at the Tianxin Sub - branch of Agricultural Bank of China in Zhuzhou. On May 16, Mr. Peng, a family member of the elderly man, told reporters that they had reached a settlement with the bank. The bank will be responsible for the elderly man's funeral expenses and pay 100,000 yuan to the family in the form of condolence money. (Dahe Daily)
Fat Donglai's official website is restored, and this month's sales are close to 1 billion yuan
The official website of Fat Donglai Trading Group, which was previously in a "closed" state, has now been restored. According to the sales data on the official website, as of May 14th, Fat Donglai's sales this month have exceeded 960 million yuan. Since entering 2025, the cumulative sales of Fat Donglai Group have reached 8.98 billion yuan. (Blue Whale News)
Large companies/Large events
A cup of coffee priced at 1,530 yuan appears at a coffee festival in Guangzhou
According to a report from HeiMao Complaint on May 15th, recently, netizens noticed that at a coffee festival in Guangzhou, a 100 - milliliter cup of coffee was priced as high as 1,530 yuan, and consumers had to buy a 40 - yuan ticket to enter. Photos circulating on the internet show that this coffee comes from the Finca Elida in Panama and is the champion of the natural - processed category in the BOP (Best of Panama) competition. This incident has sparked a heated discussion among netizens. Some netizens believe that this is a marketing tactic, saying, "No matter how good the coffee beans are, there's no need to be this expensive." Some netizens feel like they've been taken advantage of. Others say that some coffee beans are indeed very expensive, and it's okay as long as the price is clearly marked. (Jiemian News)
Lei Jun Responds to the "Xiaomi SU7 Car Accident" in an Offline Speech
On May 15th, many netizens shared Lei Jun's speech on social platforms. According to the video information, this event should be an internal event of Xiaomi Corporation, and the event name is "Our Xiaomi People's Values Conference". In the speech, Lei Jun first talked about the recent public opinion crisis caused by the Xiaomi SU7 accident and the outlook for Xiaomi's future development. Lei Jun said that no one expected that the impact of this accident would be so great. Xiaomi was bombarded with doubts, criticism, and accusations, and everyone was a bit stunned for a moment. Lei Jun also said that this accident made Xiaomi realize the high expectations and strict requirements of the public for it. It also marked that Xiaomi is no longer just a newcomer in the industry but needs to take on the responsibilities of a large company and an industry leader. Xiaomi must lead the industry in the field of automobile safety and become the safest car in the same class in the industry, rather than just meeting the regulations or reaching the industry average level. (Blue Whale News)
The annual average wage of employed persons in non-private urban units across the country in 2024 was 124,110 yuan
On May 16th, the National Bureau of Statistics released the annual average wage situation of employed persons in urban units in 2024. In 2024, the annual average wages of employed persons in non-private and private urban units across the country were 124,110 yuan and 69,476 yuan respectively; the annual average wage of employed persons in enterprises above designated size was 102,452 yuan. Among them, the annual average wage of middle - level and above managers was 203,014 yuan, that of professional and technical personnel was 148,046 yuan, that of clerks and related personnel was 93,189 yuan, that of social production service and life service personnel was 77,584 yuan, and that of production and manufacturing and related personnel was 78,561 yuan. (Blue Whale News)
Jensen Huang's private jet arrives in Taipei. It is rumored that he will invite supply chain partners to dinner
The flight tracking platform FlightRadar24 shows that the private jet of Jensen Huang, the CEO of NVIDIA, took off from Al Bateen Airport in Abu Dhabi, the United Arab Emirates, early this morning and arrived at Taipei Songshan Airport in China at 13:29 Beijing time. According to the preview of the Taipei International Computer Show (Computex 2025), Jensen Huang will give a keynote speech on the morning of the 19th. The market has reported that Jensen Huang will invite supply chain partners to dinner on the 17th. Liu Yangwei, the chairman of Hon Hai, and Lin Hsien-ming, the chairman of Wistron, both said that they will meet with Jensen Huang. (Cailian Press)
Jingmailang Chairman Says the Company Produced 1.2 Billion Bottles of Water for Wahaha, Earning Only 2 Cents per Bottle
On May 16th, Fan Xianguo, the chairman of Jingmailang, was interviewed by Xinhua News Agency and responded to the matter of Jingmailang's OEM production of Wahaha purified water. He said, "From the negotiation of cooperation in May last year to May this year, Jingmailang has produced more than 50 million cases of purified water for Wahaha, equivalent to 1.2 billion bottles in total." In addition, Fan Xianguo also said that the net profit of selling one bottle of the blue-label water is only 2 cents. It is understood that the price of Jingmailang's blue-label purified water is set at 1 yuan. Fan Xianguo believes that exorbitant profits are not a sign of business civilization. Instead, enabling consumers to buy more high-quality products with less money is the way forward. (China News Service)
It is expected to reach Beijing from Guangzhou in 4 hours by high - speed maglev train
On May 14th, the 5th Guangdong - Hong Kong - Macao Greater Bay Area (Guangzhou) Intelligent Transportation Industry Expo opened. Reporters learned from the exhibition site that the high - speed maglev train being developed by CRRC Corporation Limited can reach a speed of 600 kilometers per hour. In the future, if starting from Guangzhou and taking the high - speed maglev train, it is expected to reach Wuhan in two hours and Beijing in four hours. It will take about three hours to reach Shanghai and Chengdu, which can shorten the travel time by half compared with the current high - speed rail. (Guangzhou Daily)
China Telecom: Appoint Liu Guiqing as President and Chief Operating Officer of the Company
36Kr learned that China Telecom announced that the company's board of directors agreed to appoint Liu Guiqing as the President and Chief Operating Officer of the company, and he will no longer serve concurrently as the Executive Vice President of the company. The term of office shall commence from the date of adoption of this resolution by the board of directors and end at the 2025 annual general meeting of shareholders to be held by the company in 2026.
Ministry of Commerce Holds National Promotion Meeting on Tax Refund for Departing Foreigners
36Kr learned that the National Promotion Meeting on Optimizing the Tax Refund Policy for Departing Foreigners to Expand Inbound Consumption was held in Beijing yesterday. Developing the tax refund for departing foreigners is an important means to boost consumption significantly, an important measure to cope with external shocks, and an important way to expand high - level opening - up. Commerce authorities at all levels should actively cooperate with relevant departments to accelerate the work of expanding the number of tax - refund shops, increasing the variety of refundable goods, and optimizing services. They should focus on increasing the coverage of tax - refund shops, enhancing the attractiveness of refundable goods, improving the satisfaction of overseas tourists, and expanding inbound consumption, so as to make positive contributions to boosting consumption and promoting the continuous recovery and improvement of the economy. They should promptly improve the working mechanism, strengthen departmental collaboration, widely pool efforts, enhance data - driven decision - making, and innovate work measures to promote the accelerated implementation of the tax refund policy for departing foreigners.
Walmart to Raise Prices of Some Products in the US Due to Tariff Policy
Executives of US retail giant Walmart said on the 15th that due to the US tariff policy, the company will start to raise the prices of some products in the US later this month. Walmart CEO Doug McMillon told industry analysts on the same day that although Walmart has been trying its best to maintain low prices, given the magnitude of tariffs and the low profit margins of the retail business, even after the tariff cuts this week, Walmart cannot fully absorb the increased costs, and the retail prices of products in the US will gradually rise. Walmart CFO John Rainey said in an interview with the media on the same day that Walmart positions itself as offering low prices every day, but the tariff hikes exceed the level that any retailer can absorb. US consumers are likely to see price increases starting from the end of May. (Xinhua News Agency)
More than 500 Voice of America employees may lose their jobs by the end of next month
According to a report by The Washington Post on May 15 local time, as the lawsuit between the Voice of America and the federal government drags on, more than 500 contract workers at the Voice of America may lose their jobs before June 30. Carrie Lake, a senior advisor at the U.S. Agency for Global Media, confirmed on the same day that a total of 584 employees of this independent federal agency that oversees U.S. public service media will be laid off, most of whom are employees of the Voice of America. (CCTV News)
The forefront of AI
INAIR AI Spatial Computer Launched
36Kr learned that Weihai Duoping Future Intelligent Technology Co., Ltd. (hereinafter referred to as INAIR), a manufacturer of AI + AR spatial computing terminals, has officially launched a new intelligent product - the INAIR AI Spatial Computer. It is planned to be officially launched for sale in June, becoming the world's first mass - produced AI spatial computer.
Tencent Hunyuan Unveils Image Generation 2.0 Model
36Kr learned that on May 16th, Tencent released its latest Hunyuan Image 2.0 model (Hunyuan Image2.0). Based on innovative model architecture, it has become the first in the industry to achieve real-time image generation, bringing a brand - new AI image generation interactive experience. The model is now available on the official website of Tencent Hunyuan, and registration for experience is open to the public.
Manus Launches Image Generation Function
Manus announced the launch of its image generation function on May 15th local time. According to the introduction, Manus doesn't just generate images. It understands users' intentions, plans solutions, and knows how to combine image generation with other tools to complete users' tasks. (Jiemian News)
Baidu AI Search Launches the First DeepSearch Based on a Content Library of Billions of Entries
36Kr learned that Baidu AI Search recently launched the first domestic deep search (DeepSearch) based on a content library of billions of entries, and introduced innovative features such as personal knowledge base and creative canvas to create a new - generation intelligent search experience of "searching while thinking". This time, multiple innovative features including the personal knowledge base and creative canvas have been upgraded to support content creation needs such as industry report document analysis, work reports, and web page production. Currently, the above - mentioned features are freely available to all users. Users can experience them after entering AI Search through the search box on the home page of Baidu's PC version.
Investment and Financing
Beijing Zhenyuan Chengchuan Technology Co., Ltd. Completes 30 Million Yuan Series A Financing
36Kr learned that recently, Beijing Zhenyuan Chengchuan Technology Co., Ltd. announced the completion of a 30 million yuan Series A financing. This financing will accelerate the construction of its core business, the "Zhiwu" ecosystem, deepen the integrated innovation of "Internet + traditional culture", and further expand technology R & D and market layout. Beijing Zhenyuan Chengchuan Technology Co., Ltd. was established in 2019. Its core product, the "Zhiwu" App, provides a one - stop solution based on the concept of "Internet + culture + medical care + tourism + shopping".
Financial Reports of Large Companies
Parent Company of Japan's Fuji TV Reports a Net Loss of 20.1 Billion Yen in Fiscal Year 2024
Fuji Media Holdings, the parent company of Japan's Fuji TV, released its consolidated financial report for fiscal year 2024 (from April 2024 to March 2025) on May 16, revealing a net loss of 20.1 billion yen (approximately 1 billion yuan). This is the company's first loss since its listing in 1997, which was affected by a series of issues related to the sexual assault case involving former entertainer Masahiro Nakai. The company expects to turn a profit of 10 billion yen in fiscal year 2025. (Jiemian News)
Samyang Foods' Operating Profit Soars 67% in Q1
On May 15th, regulatory filings released by South Korea's Samyang Foods showed that the company's operating profit in the first quarter of this year reached 134 billion won, a 67% increase from 80.1 billion won in the same period last year. The company's sales soared from 385.7 billion won in the same period last year to 529 billion won. The company stated that the performance growth was mainly due to the surge in overseas demand for its star product, "Buldak noodles," which drove a 43.5% year - on - year increase in overseas sales of noodles and snacks, reaching 410.4 billion won. (Jiemian News)
Compiled | Dingding Fried Noodles