8 o'clock, 1 Krypton News | Huang Yangtiantian's father has been placed under investigation; The demand deposit interest rate is close to zero; Xiaomi YU7 is officially launched, with the standard version having a battery range of 835 kilometers.
Going Public in Progress
Sany Heavy Industry
36Kr learned that according to documents from the Hong Kong Stock Exchange, Sany Heavy Industry submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor.
Top 3 Big News
Huang Yangtiantian's father suspected of illegal business operations and has been placed under investigation
Recently, the online reports about Huang Yangtiantian's "sky-high earrings" have attracted public attention. Ya'an City has established a joint working group composed of disciplinary inspection and supervision, public security, market supervision and other departments to conduct an investigation into the relevant situations of her father, Yang, during his work in Ya'an and his involvements in Ya'an. The following is a briefing on the progress of the relevant investigation. After verification, Yang did not handle the bidding for post - disaster reconstruction projects during his work in Ya'an, and was not involved in the approval and management of post - disaster reconstruction funds or charitable donations.
Yang is suspected of illegal business operations during his work in Ya'an, and is also suspected of deliberately concealing the issue of having a second child in violation of the law during the public recruitment examination for civil servants and his work. The supervision authorities have launched an investigation into the suspected illegal and irregular issues and will handle them seriously in accordance with laws and regulations. (Xinhua News Agency)
After multiple banks announced cuts to RMB deposit interest rates, the current deposit interest rate is approaching zero.
On May 20th, after six state - owned banks, China Merchants Bank, China Everbright Bank and other banks announced cuts to RMB deposit interest rates, on May 21st, seven banks including Ping An Bank, China CITIC Bank, Industrial Bank, Shanghai Pufa Bank, China Minsheng Bank, China Guangfa Bank and Huaxia Bank also followed suit to cut deposit interest rates, with the reduction ranging from 5 to 25 basis points. After the adjustment, the RMB current and lump - sum deposit and withdrawal fixed - term interest rates of six joint - stock banks including China Guangfa Bank, Ping An Bank, China CITIC Bank, Huaxia Bank, Industrial Bank and Shanghai Pufa Bank are the same. Among them, the current deposit interest rate is 0.05%, a 5 - basis - point cut from before; the fixed - term lump - sum deposit and withdrawal interest rates for three - month, six - month, one - year and two - year terms are 0.7%, 0.95%, 1.15% and 1.20% respectively; the interest rates for three - year and five - year terms are 1.30% and 1.35% respectively.
Overall, among the nine joint - stock banks that have made cuts, the maximum reduction in the listed interest rate for lump - sum deposit and withdrawal is 25 basis points. Looking at the interest rates of fixed - deposit products, the reduction of some banks for certain terms reaches 40 basis points. (Daily Economic News)
Xiaomi YU7 Officially Launched, 0-100km/h Acceleration in 3.23s, Standard Version Has a Range of 835 Kilometers
36Kr learned that Xiaomi YU7 was officially launched on May 22nd. It is equipped with Xiaomi's Super Motor V6s Plus, with a maximum horsepower of up to 690PS. It can accelerate from 0 to 100km/h in 3.23s, has a top speed of 253km/h, and a shortest braking distance of 33.9m from 100 to 0km/h. There are three versions of Xiaomi YU7 in total - the single-motor rear-wheel-drive Xiaomi YU7, the dual-motor all-wheel-drive Xiaomi YU7 Pro, and the high-performance Xiaomi YU7 Max. The standard version has a range of 835 kilometers. Before the press conference, Lei Jun said on Weibo that the official price of YU7 would not be announced at the press conference on the 22nd evening, nor would the pre-order be opened. YU7 is expected to be officially launched in July. At the conference, Lei Jun, the founder and chairman of Xiaomi, said that some netizens mentioned that the price of Xiaomi YU7 was set at 199,000 yuan. "This is impossible. With the configuration comparable to that of Model Y, it should be sold for more than 300,000 yuan." He said that Xiaomi YU7 will be officially launched this July, and the price will be announced at that time.
Xiaomi Press Conference
Big Companies/Big Events
Chery Jaguar Land Rover states that production in China is normal, and the rumor is false
In response to the recent online rumor that "Chery Jaguar Land Rover models have stopped production", Jaguar Land Rover said that the rumor is false, and Chery Jaguar Land Rover's current production in China is normal. Not long ago, Jaguar Land Rover just announced its financial results for the fiscal year 2025 (from April 1, 2024, to March 31, 2025), with global revenue reaching £29 billion and pre - tax profit hitting £2.5 billion. (Jiemian News)
Xiaomi has applied for multiple trademarks related to YU7
36Kr learned that on May 22nd, Lei Jun said on Weibo that the YU7 is expected to be officially launched in July. There will be a pre - press conference on the evening of May 22nd, but the official price will not be announced and small - amount deposits will not be accepted. According to the Aiqicha App, Xiaomi Technology Co., Ltd. has applied to register multiple trademarks such as "XIAOMI YU7" and "XIAOMI YU". The international classifications involve means of transport, scientific instruments, daily chemical products, etc. Most of the current trademark statuses are in the preliminary examination announcement stage. In April 2025, Xiaomi Technology Co., Ltd. also applied to register a graphic trademark for "XIAOMI YU7" with the international classification of means of transport, and the current trademark status is waiting for substantive examination.
The pre - order volume of Hongmeng folding computers on the official website exceeds 100,000
At noon on May 22nd, data from the Huawei Mall showed that the pre - order volume of Hongmeng folding computers was close to 140,000. Among them, the number of pre - orders for Hongmeng folding computers with a starting price of 23,999 yuan exceeded 100,000. (Yicai Global)
Allegation: Kuaishou Forces Employees to Watch Short Videos for One Hour a Day; Internal Response: Not True
Recently, some Kuaishou employees on social media claimed that Kuaishou requires employees in multiple departments such as commercialization, product, and operation to use the Kuaishou App to watch short videos for a full hour every day and submit their usage records to their supervisors. This has sparked intense public discussion and was jokingly referred to by netizens as "watching videos on the clock".
On May 22nd, a reporter from The Paper learned from an insider at Kuaishou that this matter is not true. Kuaishou has always encouraged employees to use and experience the product more, but it has not imposed mandatory requirements on departments such as commercialization, let alone forced all employees to watch videos. Additionally, there is no mandatory one - hour time requirement, and it is not linked to performance evaluations. (The Paper)
Li-Ning Company Issues Statement: Uphold a "Clear and Bright" Online Environment and Defend Its Legitimate Rights and Interests
36Kr learned that on May 22nd, the Cyberspace Administration of China launched a special campaign called "Clear and Bright · Optimize the Online Business Environment - Rectify Online 'Black Mouths' Related to Enterprises". On the same day, Li-Ning Company issued a statement, hoping to work with everyone to maintain a clear, bright and healthy online environment. Li-Ning Company stated that recently, multiple online users have fabricated and spread false remarks about the Li-Ning brand through means such as taking statements out of context, editing pictures, and distorting the background. The company has completed evidence collection of the relevant false content and will take legal measures to hold the relevant infringers legally responsible for malicious smearing, slandering and attacking behaviors, and firmly defend its legitimate rights and interests.
China Unicom: Wang Junzhi Resigns as Director
36Kr learned that China Unicom announced that Wang Junzhi, a director of the company, applied to resign from his positions including director of the company due to age reasons. He will no longer hold any position in the company after his resignation.
Central Bank: It Will Conduct 500 Billion Yuan of MLF Operations on May 23, with a Term of One Year
36Kr learned that according to the website of the central bank, to maintain ample liquidity in the banking system, on Friday, May 23, 2025, the People's Bank of China will conduct 500 billion yuan of MLF operations with a term of one year through a fixed - quantity, interest - rate tender, and multiple - price winning bid method.
The Ministry of Education intends to approve the establishment of 32 new universities
According to the official website of the Ministry of Education, the Ministry intends to approve the establishment of 32 institutions, including Anhui Second Medical College, Tianjin Police College, and Wuhu Vocational and Technical University. The list is now open for public notice. The notice period is from May 22 to May 28, 2025. During this period, if you have any different opinions regarding the establishment of these institutions, please submit your signed feedback to the Ministry of Education. (CCTV News)
WeChat Denies Using Friends' Identities in Moments Ads
Recently, rumors on the internet have sparked heated discussions about WeChat using friends' avatars and nicknames to comment on Moments ads. On May 22nd, Xiaojiang from Kecun, an employee of Tencent's WeChat Business Group, publicly responded via Weibo, clearly stating that "WeChat does not have such an ability and will never engage in such behavior."
This controversy stems from a Moments ad placed by a game called "Unscrew the Screw." Many users copied comments or created secondary content in the comment section. However, some users noticed comments from their friends under the Moments ads but found that their friends insisted they hadn't made those comments, leading to suspicions that WeChat was using friends' information to create an interactive effect. According to "Xiaojiang from Kecun," these comments were all from users' real operations, and some users simply forgot about their comment actions over time. (Jiemian News)
MX Group's market value breaks through the HK$200 billion mark
At the close on May 22, MX Group's total market value was approximately HK$203.3 billion, breaking through the HK$200 billion mark, surpassing that of Luzhou Laojiao, a liquor stock listed on the A-share market, and far exceeding the market values of Tsingtao Brewery and Budweiser APAC. (Sina Tech)
New Company of HiPhi Motors Established
Public information shows that on May 22nd, Jiangsu HiPhi Motors Co., Ltd. was established. The legal representative is Jihad Mohammad, and the registered capital is approximately $143 million. Its business scope includes the production of road motor vehicles, research and development of auto parts, engineering and technological research and experimental development, etc. The new company is held 30.2% by Human Horizons (Jiangsu) Technology Co., Ltd. (hereinafter referred to as "Human Horizons"), the parent company of HiPhi Motors, and 69.8% by Lebanese startup EV Electra Ltd.
It is understood that previously, HiPhi Motors had a crisis, and its parent company, Human Horizons (Jiangsu) Technology Co., Ltd., applied for bankruptcy in August 2024. Not long ago, the People's Court of Yancheng Economic and Technological Development Zone in Jiangsu Province ruled to approve the application for the substantive consolidated reorganization of 52 companies including Human Horizons Jiangsu Company. (Sina Tech)
Ministry of Commerce: Retail sales of household appliances have maintained double-digit growth for eight consecutive months
On the afternoon of May 22nd, the Ministry of Commerce held a press conference. He Yongqian, the spokesperson of the Ministry of Commerce, introduced that according to statistics from relevant departments, from September 2024 to April 2025, retail sales of household appliances maintained double-digit growth for eight consecutive months. In April, the retail sales of household appliances and audio-visual equipment of units above the designated size increased by 38.8% year-on-year, ranking first among the growth rates of 16 major categories of consumer goods. (CCTV News)
The chaos of algorithmic recommendation has become prominent. The Cyberspace Administration of China has supervised platforms such as Douyin and Xiaohongshu to optimize and adjust their algorithms.
Since the launch of the special campaign "Cleaning up the Internet: Governance of Typical Problems in Algorithmic Recommendations on Internet Platforms", in response to the problems and risks strongly reflected by netizens, such as algorithmic recommendation amplifying vulgar information, exacerbating the "information cocoon", and intensifying opinion polarization, the Cyberspace Administration of China has urged and guided key platforms to optimize the information recommendation algorithm functions and adjust the information recommendation algorithm rules in a targeted manner. Recently, platforms such as Douyin, Xiaohongshu, Weibo, Kuaishou, WeChat Video, and Bilibili have systematically optimized and improved a number of functions around core aspects such as weighted recommendation of positive - energy content, guarantee of users' right to independent choice, optimization of the diversity of recommended content, and enhancement of algorithm transparency. (CCTV News)
Douyin Supports Blocking the Spread of Identical Infringing Content and Reducing the Cost of Repeated Infringement Complaints
36Kr learned that the Douyin platform announced an upgrade to its infringement reporting service. In cases of infringement of the right of portrait and the right of privacy, it supports users to authorize the activation of the "Block the Spread of Identical Infringing Content" function to trigger the platform's proactive governance. This means that in some scenarios, Douyin will proactively remove identical infringing content without users having to file individual complaints for each piece of content.
5G-A Commercialization Fully Implemented, Industry Investment Opportunities Stand Out
Currently, the 5G-A commercial network has been fully implemented, covering over 300 cities across the country. As a key transitional technology from 5G to 6G, its data transmission speed is 10 times faster than that of 5G. Wind data shows that since April 9th, the Wind 5G Concept Index and the Wind 6G Concept Index have cumulatively increased by 17.14% and 20.61% respectively. Analysts believe that the commercialization process of 5G-A is accelerating. As emerging industries such as intelligent driving and low-altitude economy enter their golden development periods, the communication equipment industry will usher in a historic development opportunity. (China Securities Journal)
The three major U.S. stock indexes closed mixed, with most large technology stocks rising
36Kr learned that at the close on May 22, the three major U.S. stock indexes closed mixed. The Dow Jones Industrial Average ended flat, the Nasdaq rose 0.28%, and the S&P 500 Index fell 0.04%. Most large technology stocks rose. Tesla and Google rose more than 1%. Microsoft, Nvidia, Amazon, and Meta rose slightly, while Apple fell slightly. Most popular Chinese concept stocks fell. XPeng Motors fell more than 7%. Alibaba, Baidu, Li Auto, and NIO fell more than 1%. Pony.ai rose more than 19%, and Pinduoduo rose more than 3%.
Popular stocks such as Apple, Tesla, and Nvidia will be traded in the form of digital tokens on the cryptocurrency exchange Kraken
On May 22nd, it was reported that the cryptocurrency exchange Kraken plans to allow non-US customers to trade popular stocks such as Apple, Tesla, and Nvidia in the form of tokens through a digital ledger. The company said that such "tokenized stocks" will make it more convenient for non-Americans to invest in US stocks. Similar to Bitcoin, these tokens will support continuous trading 24 hours a day, 7 days a week - even when the US stock market is closed. (Jiemian News)
US Commerce Secretary: Tariffs Are Painful for Trump and Me
On May 21 local time, US Commerce Secretary Luttig "confidently" stated during an event that US consumers would not feel the impact of tariffs, but was immediately "slapped in the face" by the audience on site. He then admitted that the impact on US businesses from the tariff policy last month had brought pain to US President Trump and himself, and they both felt terrible. (CCTV News)
Elon Musk: Tesla is willing to license FSD technology to other automakers
Tesla CEO Elon Musk said in an interview recently that Tesla is "more than willing" to license its FSD (Full Self-Driving) technology to other major automakers and is currently in talks with several companies. "The more we demonstrate our autonomous driving capabilities, the more they want to get the license, and we're happy to help," he added. (Jiemian News)
Samsung Biologics Plans to Spin-Off Company and Divest Biosimilar Business
Samsung Biologics, a subsidiary of South Korea's Samsung Group, said on Thursday that it plans to divest its biosimilar development business to simplify operations and focus on its core contract development and manufacturing organization (CDMO) services. According to documents filed with regulators, the company will establish a new entity, Samsung Epis Holdings, and then incorporate biosimilar developer Samsung Bioepis Co. as a wholly-owned subsidiary into the holding company. (Sina Finance)
ADB Appoints New Chief Partnership Officer
On May 22, the Asian Development Bank (ADB) announced that it has appointed Seong-Wook Kim as the Chief Partnership Officer (CPO). He will lead the ADB's resource mobilization and strategic engagement work in the President's Office. (Jiemian News)
Three iPhone Models Listed as Obsolete Products
Technology media MacRumors published a blog post on May 22, reporting that Apple has updated its product support page, and the iPhone 7 Plus and the 64GB/256GB versions of the iPhone 8 have been listed as "vintage". The (PRODUCT)RED version of the iPhone 8 was previously listed as "vintage", while the 128GB version of the iPhone 8 has not been included in this list for now due to its longer sales period. Meanwhile, Apple has moved the iPad Air 2 and iPad mini 2 from the "vintage" list to the "obsolete" list. (IT Home)
Nestle CEO: The Group Will Refocus on Core Businesses
It is reported that Laurent Freixe, the CEO of Swiss food company Nestle, said that the group is now refocusing on its core businesses after deviating from them and entering fields such as health products. He said such expansion "weakened the organizational structure." The executive, who took the helm of the company last September, told the newspaper that he did not agree with the approach of streamlining the business portfolio except in areas where Nestle does not have a competitive advantage. "I think one should never forget that mergers and acquisitions are not a strategy in themselves," the report quoted him as saying. In another interview earlier this week, Freixe mentioned that despite concerns raised by the Trump administration's tariff policies towards major trading partners last month, Nestle's market share in the United States is gradually recovering. (Sina Finance)
The Cutting - Edge of AI
OpenAI Plans to Launch 100 Million AI "Companion" Devices, Aims to Ship by End of Next Year
It is reported that OpenAI CEO Altman showed employees on Wednesday the devices he is developing with former Apple designer Jony Ive. He plans to launch 100 million artificial intelligence "companions" (AI "companions"), and these devices are scheduled to start shipping by the end of 2026. (Cailian Press)
JD Industrial Launches Supply Chain-Centric Industrial Large Model Joy industrial
36Kr learned from the WeChat official account "JD News" that on May 22nd, JD Industrial officially launched the industry's first supply chain-centric industrial large model, Joy industrial, in Shanghai. Starting from industrial supply chain scenarios and based on industry pain points and needs, Joy industrial has introduced AI agents such as demand agents, operation agents, and customs agents to meet the needs of JD Industrial and upstream suppliers in the supply chain. It has also launched AI products such as product experts and integration experts for downstream enterprise users in the supply chain. Moreover, it has set the goal of creating industrial large models for important vertical industries such as the automotive aftermarket, new energy vehicles, robot manufacturing, oil and gas, and power grids.
Financial Reports of Large Companies
Topsports: Revenue of 27.01 billion yuan and net profit of 1.28 billion yuan in the fiscal year 2024/25
36Kr learned that Topsports released its annual performance announcement for the fiscal year 2024/25. The announcement shows that from March 1, 2024, to February 28, 2025, Topsports achieved an operating revenue of 27.01 billion yuan and a net profit of 1.28 billion yuan. As of the end of the fiscal year, Topsports' cash and cash equivalents were 2.59 billion yuan, a year-on-year increase of 32.3%, and the dividend payout ratio was 135.0%. During the reporting period, the number of brands that Topsports cooperated with exceeded 20, and the company's user scale exceeded 86 million. As of the end of the fiscal year, the number of Topsports' offline stores was approximately 5,000.
BOSS Zhipin: Revenue in the First Quarter Reached 1.923 Billion Yuan, a Year-on-Year Increase of 12.9%
36Kr learned that on May 22, BOSS Zhipin released its financial report for the first quarter of 2025. The report shows that in the first quarter, BOSS Zhipin's revenue reached 1.923 billion yuan, a year-on-year increase of 12.9%, exceeding market expectations; the net profit was 512 million yuan. In the twelve months ending March 31, 2025, the number of the company's paying corporate customers was 6.4 million, a year-on-year increase of 12.3%.
Lenovo Group Releases FY2024/25 Financial Results: Annual Revenue Nearly Reaches 500 Billion Yuan, Up 21.5% Year-on-Year
36Kr learned that Lenovo Group announced its full-year and fourth-quarter financial results for the fiscal year 2024/25 ending March 31, 2025. The annual revenue reached 498.5 billion yuan, achieving a robust year-on-year growth of 21.5%, hitting the second-highest level in history. The net profit under non-Hong Kong Financial Reporting Standards increased by 36% year-on-year to 10.4 billion yuan. In the fourth fiscal quarter, all the group's main businesses achieved double-digit revenue growth, driving the overall revenue to increase by 23% year-on-year, and the net profit under non-Hong Kong Financial Reporting Standards increased by 25% year-on-year.
Cool Products
Xiaomi 15S Pro Launched, Starting at 5,499 Yuan
36Kr learned that at the launch event of Xiaomi's strategic new products for its 15th anniversary, the Xiaomi 15S Pro was launched, with a starting price of 5,499 yuan. It is the first to be equipped with the "Xuanjie O1" 3nm flagship processor; the Xiaomi Pad 7 Ultra was also launched, starting at 5,699 yuan, and it is also the first to be equipped with the "Xuanjie O1" 3nm flagship processor.
Investment and Financing
"IMCOCO" Group Completes Hundreds of Millions Yuan Series Pre - A Financing
36Kr learned that the Thai "IMCOCO" Group, which is engaged in the entire coconut water industry chain business, recently announced the completion of hundreds of millions yuan Series Pre - A financing. This round of financing was led by Insignia Ventures Partners, with Tiantu Capital participating. The funds obtained will be invested in key areas such as the expansion of the production capacity of the Thai factory, the globalization of the ONLIFE private brand, and the establishment of the China headquarters.
The lead investor in the new round of tens of millions of financing for "InnoMed" has passed the investment decision.
36Kr learned that the lead investor in the new round of tens of millions of financing for "InnoMed" has passed the investment decision. The funds from this round will be used for product certification and registration, R & D of new pipelines, and overseas market expansion. InnoMed focuses on the R & D and application of artificial intelligence solutions in the field of digestive endoscopy.
Airwallex Completes $300 Million Series F Financing Recently
36Kr exclusively learned that Airwallex, a global cross - border payment and financial platform, recently completed a $300 million Series F financing. The investors include venture capital institutions such as Square Peg, DST Global, Blackbird, Airtree, Salesforce Ventures, as well as multiple pension funds. Visa Ventures participated as a strategic investor. It is understood that $150 million of this round of financing was a secondary share transfer, and the post - investment valuation is $6.2 billion.
"Zhongkuang Industry" Completes Angel Round Financing of Tens of Millions of Yuan
36Kr learned that recently, "Zhongkuang Industry" announced the completion of an angel round financing of tens of millions of yuan. The funds from this round will be used to deepen the development and operation of industrial parks in the Guangdong-Hong Kong-Macao Greater Bay Area, build an enterprise service ecosystem, and construct a digital platform to support regional industrial upgrading. This financing will accelerate the R & D of the intelligent park management system and the replication of cross - regional projects. It is planned to add one million square meters of industrial space in the next three years.
"Lide Health" Completes Nearly 100 Million Yuan Angel Round Financing
36Kr learned that recently, "Lide Health" announced the successful completion of nearly 100 million yuan in angel round financing, led by Jiadao Capital, with Qiji Investment, Zhongke Chuangxing, Jukexinxing Industry Venture Capital, Jianshi Capital, and Jiuzhou Xinnuo participating in the follow - on investment. The financing funds will be used to accelerate technological R & D, product industrialization, and market expansion.
Hangzhou Jinquantang Biotechnology Co., Ltd. Completes 5 Million Yuan Angel Round of Financing
36Kr learned that recently, Hangzhou Jinquantang Biotechnology Co., Ltd. successfully completed a 5 million yuan angel round of financing. The founder said that the financing funds will be used to optimize the services of its Jinquantang Traditional Chinese Medicine Rehabilitation Center for the waist, shoulders, and neck, and to further develop innovative solutions that combine traditional Chinese medicine therapies such as acupoint tendon - dredging, yang - tonifying tendon - dredging moxibustion, and Western medicine dialysis, so as to help solve the pain problem. In addition, efforts will also be made to popularize traditional Chinese medicine knowledge and cultivate grass - roots technical talents.
AI Image Generation: Creating a Second Career Curve for Office Workers
OpenAI and Google have been making significant moves in the field of AI image generation, leading to a comprehensive upgrade of AI image - generation gameplay! Which prompt templates can double the efficiency of AI image generation? What new tricks can Lovart, which has been in high demand recently, offer? And how can ordinary office workers use it to create a "second income curve"?
At 7 p.m. on May 23rd (this Friday), "AI Insiders" has invited AI creator/visual designer A Zhen Irene to break down the latest tools, demonstrate practical skills, and fully disclose the efficient image - generation process. Even beginners can get started. Welcome to make a reservation and watch.
Compiled | Dingding Fried Noodles