8:00 am, Yike Daily｜MIXUE customer service responds to netizens reselling lemonade for profit; Elon Musk firmly states that he will continue to lead Tesla for the next five years unless he passes away; "Ne Zha 2" extends its screening until June 30.
Top 3 Big News
MiXue BingCheng Customer Service Responds to Netizens Reselling Lemonade for Profit
Recently, a tweet about "a blogger setting up a stall in a scenic area to resell MiXue BingCheng lemonade" has attracted attention and sparked discussions. The blogger sold the lemonade, which originally cost 4 yuan (with a cost of 3.4 yuan), at a marked - up price of 6 yuan. Within three and a half hours, 98 cups were sold (and the blogger also drank 2 cups himself), ultimately making a profit of 254 yuan. Reporters from JingShi Live found through searches that there were also similar videos of people setting up stalls to sell MiXue BingCheng products at different times and locations. However, it was not clear from the videos whether it was MiXue BingCheng staff selling at the stalls or other vendors reselling. On May 20th, MiXue BingCheng's customer service responded, stating that they had recorded the relevant situation and would report it to the relevant departments of the company. Subsequently, a dedicated person would verify whether it was employees selling outside the store or others reselling. (JingShi Live)
Elon Musk Reiterates Firmly: He'll Keep Running Tesla Unless He Dies
On May 20th, Elon Musk, the CEO of Tesla, stated that he will continue to serve as Tesla's CEO for the next five years unless he passes away. In a video interview at the Qatar Economic Forum on Tuesday, the billionaire made it clear that he is committed to leading Tesla until 2030, "unless I'm dead."
During an interview with Bloomberg, Musk spoke assertively, saying that he isn't worried about the legal disputes in Delaware regarding his hefty compensation package and firmly believes that the case won't affect his future remuneration arrangements. He pointed out that compared with the multi - billion - dollar compensation, he cares more about having control over Tesla: "It's not about the money. It's about maintaining reasonable control over the company's future, especially when we might be manufacturing millions or even billions of humanoid robots." (Global Times)
"Ne Zha 2" Extends Its Screening until June 30
According to data from Maoyan Professional Edition, the screening license of the movie "Ne Zha: Reborn in the Demon Sea" has been extended, and its screening will last until June 30. As of now, the cumulative total box office has reached 15.405 billion yuan. (Cover News)
Big Companies/ Major Events
Alibaba Pictures Group Renamed "Orca Entertainment"
36Kr learned that on May 21st, Alibaba Pictures Group announced that it will be renamed Orca Entertainment Group with immediate effect. Alibaba Pictures under its umbrella intends to be renamed Damai Entertainment. Orca Entertainment will continue to serve as the cultural and entertainment group under Alibaba, with Youku and Damai Entertainment as its core engines, creating happiness for users. Orca Entertainment Group issued an internal letter stating that this brand refresh is in line with Alibaba's principle of "returning to the original intention and starting a new business", and it is also a crucial decision made by the company based on its own strategy. "The AI era requires us to be more determined in self - iteration and upgrading," the internal letter said. In the future, Orca Entertainment will firmly adhere to the dual - engine strategy of "content + technology", providing users with full - scene entertainment experiences both online and offline, and offering full - link services to industry partners.
Lei Jun Posts: Believe that YU7 Has Irreplaceable Unique Charm
On May 21st, Lei Jun posted a message saying: Xiaomi YU7 is about to be released soon. Many friends said that the SUV market is more competitive than the sedan market. Can Xiaomi break through the encirclement? There are many experts in this field, each with super - strong competitiveness. Indeed, the competition is very fierce. But I believe that YU7 has an irreplaceable unique charm. (Sina Technology)
Gree Confirms Dong Mingzhu and Meng Yutong to Co - host a Live Stream
On May 20th, Gree confirmed to Red Star Capital Bureau that this Friday (May 23rd), Dong Mingzhu, the chairperson of Gree, will co - host a live stream with Meng Yutong, her former secretary. (Red Star News)
The State Council removes Wang Jianjun from the position of Vice Chairman of the China Securities Regulatory Commission
36Kr learned that according to the official website of the Ministry of Human Resources and Social Security, the State Council has appointed and removed national officials, removing Wang Jianjun from the position of Vice Chairman of the China Securities Regulatory Commission.
National Press and Publication Administration: A total of 130 domestic online games and 14 imported online games were approved in May
On May 21st, the National Press and Publication Administration announced the approval information for domestic online games in May. A total of 130 games were approved in May. Meanwhile, it released the approval information for imported online games in 2025, with a total of 14 imported games approved in May. (36Kr, Jiemian News)
Eight departments: Encourage banks to comprehensively use methods such as loan renewal without principal repayment, extension, and adjustment of repayment arrangements to support the renewal of expired loans for small and micro enterprises
Recently, the National Administration of Financial Regulation, the People's Bank of China, the China Securities Regulatory Commission, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, the State Taxation Administration, and the State Administration for Market Regulation jointly formulated the "Several Measures to Support the Financing of Small and Micro Enterprises". From eight aspects including increasing financing supply, reducing the comprehensive financing cost, improving financing efficiency, enhancing the accuracy of support, implementing regulatory policies, strengthening risk management, improving policy guarantees, and organizing implementation, 23 work measures were proposed.
The "Several Measures" mentioned implementing the policy of loan renewal without principal repayment for small and micro enterprises. Guide banks to implement the requirements of the "Notice of the National Administration of Financial Regulation on Doing a Good Job in Loan Renewal and Improving the Financial Service Level for Small and Micro Enterprises" (Financial Regulation [2024] No. 13), optimize loan renewal products, smooth the handling channels, and expand the scope of beneficiaries of the loan renewal policy. Encourage banks to comprehensively use methods such as loan renewal without principal repayment, extension, and adjustment of repayment arrangements to support the renewal of expired loans for small and micro enterprises and alleviate the difficulties of small and micro enterprises in capital turnover. (Jiemian News)
Gold jewelry prices break through 1,000 yuan again
On May 20th, Eastern Time in the United States, the international gold price rebounded. The closing price of spot gold in London rose by nearly 2%, and the price of COMEX gold futures also rose by nearly 2%. As of press time, the price of spot gold in London once exceeded $3,300 per ounce. The prices of domestic gold brands have also climbed. As of press time, Zhongxin Jingwei's inquiry found that the quoted price of pure gold jewelry at Chow Sang Sang was 1,007 yuan per gram, a rise of 25 yuan compared with 982 yuan per gram the previous day; the quoted price of pure gold jewelry at Lao Miao Gold was 1,004 yuan per gram, a rise of 27 yuan compared with 977 yuan per gram the previous day, a sharp increase of nearly 30 yuan overnight. (Zhongxin Jingwei)
Chen Hang Succeeds as the Legal Representative of DingTalk Technology
36Kr learned that according to the Aiqicha App, recently, there was an industrial and commercial change in DingTalk Technology Co., Ltd. Ye Jun stepped down as the legal representative, executive director and general manager, and Chen Hang succeeded as the legal representative and also serves as a director and manager. DingTalk Technology Co., Ltd. was established in December 2017 with a registered capital of 50 million yuan. Its business scope includes the first - class value - added telecommunications services, basic telecommunications services, human resources services, etc. Shareholder information shows that the company is wholly owned by Hangzhou Baoxuan Investment Management Co., Ltd.
Apple Stores Support WeChat Pay
On May 21st, many netizens posted that Apple Stores support WeChat Pay, and this information was confirmed by WeChat Pay. "WeChat Pay has always been committed to continuously improving users' experience in transaction scenarios," WeChat Pay said regarding the integration with Apple Stores. As of now, domestic Apple Stores accept UnionPay, Alipay, and WeChat Pay, as well as payment methods such as Visa, Mastercard, JCB, and American Express. (Shanghai Securities News)
Spokesperson of the Ministry of Commerce Made a Statement on the US Attempt to Globally Ban Chinese Advanced Computing Chips
36Kr learned from the website of the Ministry of Commerce that the spokesperson of the Ministry of Commerce made a statement on the US attempt to globally ban Chinese advanced computing chips. The Chinese side has noted that the US Department of Commerce recently issued a guide, attempting to globally ban Chinese advanced computing chips, including specific Huawei Ascend chips, on the grounds of so - called presumed violations of US export controls. The US measures are typical acts of unilateral bullying and protectionism, which seriously undermine the stability of the global semiconductor industry chain and supply chain and deprive other countries of the right to develop high - tech industries such as advanced computing chips and artificial intelligence. The Chinese side believes that the US side has abused export controls to contain and suppress China, which violates international law and basic norms of international relations, seriously undermines the legitimate rights and interests of Chinese enterprises and endangers China's development interests.
Many places have introduced new policies to strengthen birth support. Changchun will implement national childcare subsidies and provincial birth rewards for second and third children.
On May 21, six departments in Chengdu issued the "Implementation Plan for Special Actions to Boost Consumption in 2025", proposing to strengthen support for childbirth and parenting, improve and implement proactive birth support policies, and establish and improve the relevant policy and measure system. On May 20, the "Implementation Plan for Special Actions to Boost Consumption in Changchun (Draft for Comment)" was open for public comments, proposing to strengthen birth support, implement national childcare subsidies and provincial birth rewards for second and third children. Support the development of inclusive childcare services. For public childcare service institutions with differential subsidies, urban areas in Changchun will provide a subsidy of 2,400 yuan per child per year, and other areas will provide a subsidy of 1,800 yuan per child per year; for self - financing public and inclusive private childcare service institutions, urban areas in Changchun will provide a subsidy of 3,600 yuan per child per year, and other areas will provide a subsidy of 2,400 yuan per child per year. (Securities Times)
All three major U.S. stock indexes closed lower, and most large-cap technology stocks declined
36Kr learned that at the close on May 21, all three major U.S. stock indexes fell. The Nasdaq dropped 1.41%, the Dow Jones Industrial Average declined 1.91%, and the S&P 500 Index fell 1.61%. Most large-cap technology stocks declined. Intel, Tesla, and Apple dropped more than 2%. NVIDIA, Amazon, and Microsoft fell more than 1%. Meta declined 0.25%. Google rose more than 2%, and Netflix rose 0.22%. Most popular Chinese concept stocks trended lower. iQiyi dropped more than 8%. Dingdong Maicai and Baidu fell more than 4%. Alibaba, Tiger Brokers, and Pinduoduo declined more than 1%. NIO dropped 0.51%. XPeng Motors rose 13%, Weibo rose more than 4%, and Li Auto and Zeekr rose more than 3%.
Apple WWDC25 Date Set
Apple has officially announced that the 2025 Worldwide Developers Conference (WWDC 2025) will be held from June 9th to 13th, Pacific Time (June 10th to 14th, Beijing Time). The conference will continue to be mainly online, and in - person special events will be held at Apple Park in Cupertino, California.
Among them, the opening keynote speech on the first day of the conference is scheduled for 10 a.m. Pacific Time on June 9th (1 a.m. Beijing Time on June 10th). At that time, a new generation of operating systems including iOS 19, iPadOS 19, macOS 16, tvOS 19, watchOS 12, and visionOS 3 will be released. iOS 19 is said to bring the most significant interface and feature innovations since iOS 7, including the introduction of design elements such as the semi - transparent frosted glass effect in the style of visionOS. (Sina Tech)
Fortnite Returns to Apple
Fortnite has just announced its relaunch on the App Store for iPhones and iPads in the United States. This is the game's first return since it was removed from the iOS platform in 2020.
In addition, Fortnite will also be available to users in the European Union through the Epic Games Store and AltStore. Court documents show that Apple originally insisted on waiting for the legal disputes to be fully resolved before allowing the game to return. However, after the judge overseeing the case threatened to subpoena Apple executives to testify in court, Apple finally approved Epic's application to list the game. (Sina Tech)
US retail giant Walmart plans to lay off about 1,500 employees
People familiar with the matter said that US retail giant Walmart plans to lay off about 1,500 employees as part of its restructuring plan to cut costs. It is reported that Walmart has about 1.6 million employees in the United States and about 2.1 million employees globally. The company said last week that due to the impact of US tariff policies on its supply chain, Walmart will raise the prices of some products before the end of May. US President Trump then posted a message criticizing Walmart for blaming the price increase of goods on tariffs, saying that the company should bear the additional costs brought by the tariff policies. (CCTV News)
Reports: Samsung Enters the Space Sector
In recent years, more and more countries and enterprises have set their sights on the space sector, and Samsung Group also seems to have joined this space race. According to South Korean media kedglobal, Samsung C&T has launched a project called "Space Factory". (IT Home)
Reports: US chipmaker Wolfspeed to file for bankruptcy, shares plunge nearly 60% after hours
According to people familiar with the matter, US silicon carbide (SiC) chipmaker Wolfspeed is preparing to file for bankruptcy within weeks as it struggles to resolve its debt issues. In response to this news, the company's shares tumbled nearly 60% in after-hours trading. Wolfspeed has been grappling with weak demand in the industrial and automotive markets and uncertainties caused by tariffs. It is understood that after rejecting several out-of-court debt restructuring proposals from creditors, the company is seeking bankruptcy protection, which will be supported by the majority of its creditors. (Sina Finance)
Japanese Government: Reserve Rice Circulation in Retail Stores Accounts for Only 10%, and the Transaction Price between Merchants Hits a New High Again
Data released by the Ministry of Agriculture, Forestry and Fisheries of Japan on May 20 showed that as of April 27, the amount of reserve rice circulated to retail stores and catering enterprises was 22,379 tons, accounting for only 10.55% of the total amount put up for auction in two rounds in March. The Ministry of Agriculture, Forestry and Fisheries also announced the "relative transaction price" when rice buyers and wholesalers made transactions in April. The price of brown rice produced in 2024 reached 27,102 yen (approximately 1,362 yuan) per 60 kilograms, hitting a new high again after one month and rising by 1,226 yen compared with the previous month. Although the price dropped in March due to the concentrated transactions of reserve rice produced in 2024, it resumed its upward trend in April. (Jiemian News)
Italian Antitrust Authority Concludes Probe into Dior
The Italian antitrust authority has concluded its investigation into Dior, a brand under the LVMH Group, and its two subsidiaries. The original investigation alleged that they misled consumers with statements about the working conditions of their suppliers. The authority said that although no fault was found, Dior has made commitments. Dior's commitments include paying 2 million euros ($2.3 million) over five years to support an initiative open to other brands, aiming to help victims of labor exploitation. (Sina Finance)
Musk: Tesla to Launch Autonomous Taxi Service in Austin, Texas, Next Month
Elon Musk said on May 20th local time that Tesla will launch an autonomous taxi service in Austin, Texas, USA, by the end of June. Musk stated that Tesla will first deploy around 10 autonomous vehicles in some areas of Austin. If the launch goes smoothly without any accidents, the number will be increased to about 1,000 within a few months, and then the service will be expanded to cities such as Los Angeles and San Francisco. (Jiemian News)
SpaceX: To invest approximately $1.5 billion to provide broadband internet services across Vietnam
According to the Vietnamese government website, on May 20th local time, Vietnamese Minister of Industry and Trade Nguyen Hong Dien held a working discussion with representatives of several US companies. Tim Hughes, the senior vice president of SpaceX, said that the company will invest in and develop telecommunications infrastructure in Vietnam through the Starlink satellite internet service project. SpaceX will invest approximately $1.5 billion across Vietnam, especially in remote, border, and island areas, to provide broadband internet. It is expected that in the first phase, SpaceX will set up 10 to 15 ground stations in Vietnam. (Sina Finance)
The forefront of AI
Jensen Huang: The scale of China's artificial intelligence market is expected to reach $50 billion in 2026
Jensen Huang, CEO of NVIDIA, said that the scale of China's artificial intelligence market is expected to reach $50 billion in 2026. (Yicai Global)
Google CEO: Monthly Active Users of Gemini AI App Exceed 400 Million
Google CEO Sundar Pichai said on May 20th local time that the monthly active users of the Gemini AI app have exceeded 400 million. In addition, Google announced that the AI overview is now available in more than 200 countries and regions, covering over 1.5 billion users and supporting more than 40 languages, with new support for languages such as Arabic, Chinese, Malay, and Urdu. (Jiemian News)
Feishu to Launch New AI Product "Knowledge Q&A"
36Kr exclusively learned that Feishu is about to launch a new AI product, namely Feishu Knowledge Q&A. It is understood that "Feishu Knowledge Q&A" is an enterprise - exclusive AI Q&A tool based on enterprise knowledge, which can be accessed from the left toolbar of Feishu. When users encounter problems at work, they can ask questions to Feishu Knowledge Q&A at any time.
Financial Reports of Large Companies
Weibo Releases Q1 2025 Financial Report: Revenue Reaches $2.883 Billion, Adjusted Operating Profit Hits $943 Million
36Kr learned that Weibo released its financial report for the first quarter of 2025. The report shows that Weibo's total revenue in this quarter was $396.9 million, approximately equivalent to 2.883 billion yuan; the adjusted operating profit in the first quarter was $129.5 million, approximately equivalent to 943 million yuan, exceeding Wall Street's expectations. In terms of users, as of the end of the first quarter, Weibo's monthly active users reached 591 million, and daily active users reached 261 million.
Baidu's Q1 Financial Report: Total Revenue Reaches 32.5 Billion Yuan, Exceeding Expectations, and Smart Cloud's Year-on-Year Growth Rate Reaches 42%
36Kr learned that Baidu released its financial report for the first quarter of 2025. The report shows that Baidu's total revenue in the first quarter reached 32.5 billion yuan, of which the core revenue was 25.5 billion yuan, a year-on-year increase of 7%, both exceeding market expectations. In the first quarter, Baidu's core net profit increased by 48% year-on-year to 7.63 billion yuan. The smart cloud continued to grow strongly, with a year-on-year growth rate of 42%. The report shows that in March, the monthly active users of Baidu App reached 724 million, a year-on-year increase of 7%. In terms of autonomous driving, as of May 2025, Apollo Go had provided over 11 million rides globally. In the first quarter of this year, Apollo Go provided over 1.4 million rides globally, a year-on-year increase of 75%.
iQiyi Releases Q1 2025 Financial Report: Total Revenue Reaches 7.19 Billion Yuan, with Both Total Revenue and Operating Profit Increasing Quarter-on-Quarter
36Kr learned that on May 21st, iQiyi released its unaudited financial report for the first quarter ended March 31, 2025. The report shows that iQiyi's total revenue in the first quarter was 7.19 billion yuan, a quarter-on-quarter increase of 9%. Among them, membership service revenue was 4.40 billion yuan, online advertising service revenue was 1.33 billion yuan, content distribution revenue was 0.63 billion yuan, and other revenue was 0.83 billion yuan. In that quarter, iQiyi's Non-GAAP (Non - Generally Accepted Accounting Principles) operating profit was 0.46 billion yuan, a quarter-on-quarter increase of 13%, and the Non-GAAP operating profit margin was 6%. Gong Yu, the founder and CEO of iQiyi, said that iQiyi had a stable performance in the first quarter. The total market share of long - form dramas on iQiyi continued to lead, and the user scale and activity of short - form dramas increased significantly.
Amer Sports: Q1 Revenue Reaches $1.473 Billion, Up 23% Year-on-Year
36Kr learned that Amer Sports released its financial report for the first quarter of 2025. The report shows that the revenue for this quarter reached $1.473 billion, a year-on-year increase of 23%. Among them, the revenue in the Greater China region was $446 million, a year-on-year increase of 43%; the revenue in the Asia-Pacific region was $157 million, a year-on-year increase of 49%; the revenue in the Americas region was $465 million; and the revenue in the Europe, Middle East and Africa (EMEA) region was $405 million, all achieving a steady growth of 12%. The operating profit increased by 97% year-on-year to $214 million; the adjusted operating profit increased by 79% to $232 million.
Tuya Smart: Q1 Revenue Reaches $74.7 Million, Up Approximately 21.1% Year-on-Year
36Kr learned that Tuya Smart, a global AI cloud platform service provider, released its financial report for the first quarter of 2025. The report shows that Tuya Smart's total revenue in the first quarter of 2025 reached $74.7 million, a year-on-year increase of approximately 21.1%. Among them, the IoT PaaS revenue was approximately $53.7 million, the SaaS and other revenue was approximately $10 million, and the revenue from smart solutions was approximately $11 million, a year-on-year increase of approximately 47.1%.
Cool Products
Google Collaborates with XREAL to Launch New AR Glasses
36Kr learned that at the Google I/O Developer Conference, Google announced a deep strategic cooperation with Chinese AR technology company XREAL to jointly launch the new - generation AR glasses, Project Aura. As the flagship AR glasses specially designed for the Android XR platform, Project Aura is based on the OST (Optical See through) technology route, marking that the AR industry has officially entered the "Android Moment".
Tencent Announces AI Upgrade of Five Collaborative Office Products, Breaking Through the Single-Point Efficiency Improvement Model
36Kr learned that Tencent announced that its collaborative office product matrix has ushered in a new round of AI upgrades. Five products, namely Tencent Meeting, e-Sign, Questionnaire, Tencent Cloud BI, and Documents, have collectively launched new AI capabilities. This upgrade breaks through the single-point efficiency improvement model, deeply integrates Tencent's Hunyuan large model technology with industrial scenarios, and is committed to helping users solve more problems with AI assistance in vertical fields. While announcing the intelligent upgrade of the five collaborative office products, Tencent also disclosed multiple AI progress at the 2025 Tencent Cloud AI Industry Application Summit, including the release of the latest model matrix of the Hunyuan large model.
Zhiyuan Robotics Officially Launches Lingxi X2 Robot
36Kr learned that on May 21st, Zhiyuan Robotics launched a new product - the Lingxi X2 fully intelligent and flexible robot. According to the introduction, the robot is about 1.3 meters tall, equipped with an emotion computing engine, and has three major capabilities: motion intelligence, interaction intelligence, and operation intelligence. According to Wei Qiang, the president of Zhiyuan Lingxi's business line, the Lingxi X2 series is priced between 100,000 and 400,000 yuan depending on different hardware configurations, and the recruitment of partners will officially start on May 22nd.
Investment and Financing
Guangdong Lihe Construction Engineering Co., Ltd. Completes 80 Million Yuan Series A Financing
36Kr learned that recently, Guangdong Lihe Construction Engineering Co., Ltd. announced the completion of 80 million yuan in Series A financing. The funds from this round of financing will be mainly used in three aspects: First, to increase market expansion efforts, deepen business cooperation with existing partners, and explore more regional markets; Second, to invest in technological upgrading, improve the digital level of project management, and enhance the efficiency and quality of project execution; Third, to optimize the construction of the talent echelon, attract top talents in the industry, and improve the "mentor - protégé" talent cultivation system. This financing will help Lihe Construction Engineering further consolidate its position in the industry and accelerate its progress towards the goal of becoming a "Pearl Enterprise".
Mianbi Intelligence Secures Tens of Hundreds of Millions of Yuan in a New Round of Financing
36Kr has learned that recently, Mianbi Intelligence completed a new round of financing worth hundreds of millions of yuan. This round of financing was jointly invested by Hongtai Fund, Guozhong Capital, Tsinghua Holdings Jixin Investment, and Moutai Fund. The completion of this round of financing will further lay a solid foundation for Mianbi Intelligence to build efficient large - model technologies and product barriers, and accelerate industry empowerment and ecological expansion. It will also cooperate with the upstream and downstream of the industry to promote the large - scale application of the "edge - side brain" in various industries.
36Kr Big News
The "Krypton Big Events" short - video column provides a vivid interpretation of major events in the business world. The first successful case of gene - editing treatment: Will we stop taking medicine for treating diseases in the future?
Compiled | Dingding Fried Noodles