9 a.m. Latest News: Harvard University Says Trump Administration's Actions Illegal and Harmful, Dong Mingzhu Hugs Meng Yutong in Livestream, National Hospitals Slash Radiology Examination Fees

Harvard University responded to the US government's announcement of revoking its qualification to recruit international students, stating that the move is illegal and harmful.

Going public in progress

Forerunnertek (Zhejiang) Intelligent Technology Co., Ltd.

36Kr learned that according to documents from the Hong Kong Stock Exchange, Forerunnertek (Zhejiang) Intelligent Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are CITIC Securities, China International Capital Corporation, Huatai International, and HSBC.

Will Semiconductor Co., Ltd.

36Kr learned that Will Semiconductor Co., Ltd. announced that the company intends to issue overseas-listed shares (H shares) and list on the Main Board of The Stock Exchange of Hong Kong Limited to accelerate the company's internationalization strategy and the development of overseas business, enhance its overseas financing capabilities, and improve its comprehensive competitiveness. This matter still needs to be submitted to the shareholders' meeting for deliberation and requires the filing, approval, and/or verification of relevant government agencies and regulatory authorities. At present, the relevant details have not been finally determined, and there are significant uncertainties regarding the issuance.

Top 3 Big News

Harvard University Responds to Trump Administration's Actions: Illegal and Harmful

On May 22, the U.S. government announced the cancellation of Harvard University's qualification to recruit international students. According to this decision, in addition to no longer being able to recruit new international students, current foreign students at Harvard University are required to transfer to other schools; otherwise, they will lose their legal status. In response, Harvard University issued a statement stating that the actions of the Trump administration are "illegal and harmful," and the school is taking swift action to provide guidance and support to members of the community. The statement also said, "This retaliatory action could cause serious damage to the Harvard community and the country and undermine Harvard's academic and research mission."

However, according to U.S. media reports, U.S. federal judge Jeffrey White in California issued an injunction on the same day to prevent the Trump administration from terminating the legal status of international students at universities (including Harvard University) during the case hearing. During the case hearing, the injunction also prohibits the Trump administration from arresting or detaining any students born outside the United States on the grounds of immigration status. The U.S. government had previously canceled the visas or legal status of more than a thousand international students. On April 18, more than 100 affected international students jointly filed a lawsuit with the U.S. Federal Court, demanding the restoration of their legal status and the prevention of the U.S. government from continuing to implement this policy. (CCTV News)

Dong Mingzhu Hugged Meng Yutong During the Live Stream, and the Two Reunited on Camera After Two Years

On the evening of May 23rd, Dong Mingzhu, the chairperson of Gree, and Meng Yutong, her former secretary, appeared together in a live - stream. Meng Yutong showed up in the Gree live - streaming room and said, "Long time no see." Dong Mingzhu welcomed Meng Yutong back to Gree, and the two hugged tightly. Dong Mingzhu said, "Actually, Yutong really touched me. Gree has a clear rule that it's impossible for someone who has left to come back." Dong Mingzhu also said that Meng Yutong still needs to go abroad to study for a year and they'll talk about it when she comes back. She invited Meng Yutong to participate in the live - streams at any time, saying that Meng Yutong has feelings for Gree, but "the child is too young and inexperienced." Previously, Meng Yutong posted a chat record with Dong Mingzhu, in which Dong Mingzhu said, "I'll take you out for a meal." (Sina Tech, 21st Century Business Herald)

The National Healthcare Security Administration Standardizes the Prices of Radiological Examination Medical Services Across the Country

On May 22, 2025, the National Healthcare Security Administration announced during a live - stream meeting the price cuts of large - scale equipment examinations such as X - rays, CT scans, and MRIs in various regions. Guided by the National Healthcare Security Administration, local authorities are standardizing the prices of radiological examination medical services. Currently, the healthcare security departments of 22 provinces have formulated specific price plans, which will be implemented gradually.

Hospital radiological examinations mainly include X - rays, CT scans, and MRIs. Among them, the relatively high - cost PET/CT examinations are also included in this round of price cuts. For example, in Anhui Province, the price of Positron Emission Tomography/Computed Tomography (PET/CT) has been adjusted to 2,500 yuan per part, down from 5,000 yuan previously. The price of whole - body scanning has also dropped from 6,700 yuan to 4,980 yuan. According to the current price plans of each province, for basic single - part examinations, the cost of X - ray imaging does not exceed 55 yuan, CT plain scans do not exceed 255 yuan, magnetic resonance imaging (MRI) does not exceed 505 yuan, and PET/CT does not exceed 2,500 yuan, with slight differences in different regions. (Caixin Magazine)

Large Companies/Key Events

Nike Announces Price Hikes for Multiple Product Categories Amid Tariff War

According to a report on the website of CNBC on the 22nd local time, Nike expects to raise the prices of footwear, apparel, and sports equipment as early as this week and no later than June 1st. The specific price increases will range from $2 to $10. The prices of children's products and items priced below $100 will remain unaffected. (CCTV News)

Apple Plans to Launch Smart Glasses in 2026 and Cancel the Release of Apple Watch with a Camera

Apple plans to launch its first smart glasses in 2026 and halt the plan to release an Apple Watch equipped with a camera before 2027.

According to media reports, Apple plans to launch smart glasses by the end of next year. They will be equipped with a camera, microphone, and speaker, allowing them to analyze the outside world and accept requests through the Siri voice assistant. This is Apple's latest move to diversify its product lineup and boost the demand for artificial intelligence devices. The reports say that these smart glasses can also answer calls, control music playback, perform real - time translation, etc. The smart glasses use an internal chip, but the plan to integrate augmented reality "will take several more years." The report cited people familiar with the matter as saying that Apple will start collaborating with overseas suppliers at the end of this year to mass - produce prototypes of this device. (The Paper)

Jacky Cheung's concert schedule clashes with the college entrance examination, sparking numerous complaints

Earlier this month, Maoyan APP announced that Jacky Cheung's 60+ Tour in Dongguan (hereinafter referred to as Jacky Cheung's Dongguan concert) is scheduled to be held at the Dongguan Bank Basketball Center from June 6th to June 8th, with three consecutive shows. Since the concert coincides with the 2025 college entrance examination for two days and is near the examination site of Dongguan No. 6 High School, it has sparked complaints from some local residents, who hope that the concert will be postponed. On May 22nd, multiple departments in Dongguan responded to this matter.

A reporter called the 12345 government service hotline in Dongguan. The staff member of the hotline said that they had received reports from many citizens about the timing of Jacky Cheung's Dongguan concert. After verification by relevant departments, there is no overlap in the time periods, and it will not affect the examinees. The concert will be held at the Dongguan Bank Basketball Center, with no residential communities nearby. The straight - line distance from the nearest examination site, Dongguan No. 6 High School, is about 1.6 kilometers. The concert will be held indoors. Based on an analysis of the venue's past situation and on - site measurements, the maximum volume generated by the concert will not affect the preparation of the students at the high school. Currently, they have not received any news about the postponement of the concert. (Zonglan News)

Trump Threatens to Impose Tariffs on Apple

On May 23rd, US President Donald Trump said on his social media that he had told Apple's Tim Cook a long time ago that he hoped the iPhones sold in the US by Apple would be manufactured in the US, rather than in India or anywhere else. If not, Apple must pay at least a 25% tariff to the US. Before the US stock market opened, Apple's shares once tumbled nearly 4%. (Jiemian News)

Google Reportedly Faces Antitrust Probe by US Justice Department Over AI Technology Deals

According to people familiar with the matter, the US Justice Department is investigating Google, a subsidiary of Alphabet, to examine whether its agreement on the use of artificial intelligence technology with a popular chatbot company violates antitrust laws. "Google is always happy to answer any questions from regulators," the company's spokesman Peter Schottenfels said in an email statement. "We're pleased to have the talent from Character.Ai join the company, but we don't hold any equity, and they remain an independent company." (Sina Finance)

ByteDance Issues Announcement: Do Not Give Gifts or Cash to Our Employees, Including Zongzi Gift Boxes and Red Envelopes

On May 23, ByteDance's procurement department issued a "Dragon Boat Festival Compliance Reminder to Business Partners," stating that ByteDance attaches great importance to compliance management and firmly adheres to the concept of honest operation and transparent cooperation, with a "zero tolerance" policy for corruption and bribery. If a partner is found to have bribed ByteDance employees or colluded with employees to seek improper benefits, the relevant partner will be included in the list of entities that will never be partnered with, and ByteDance will no longer accept its services or products. (Red Star News)

Apple Patent Explores Gesture Interaction on Mac: Gaze Tracking Assistance and Intelligent Recognition of Hand Postures

Reports indicate that Apple has been granted a new patent focused on enabling precise gesture interaction experiences on devices such as Macs, iPhones, and iPads.

Apple's exploration of gesture control began in 2014 when it acquired the Israeli company PrimeSense to obtain the relevant technological foundation. Since then, Apple has filed dozens of related patents, covering advanced cameras on Macs, Apple TVs, and even MacBooks to capture complex gestures. The patent also mentions gaze tracking technology, which captures data such as the user's gaze vector and pupil position to determine the user's target of focus on the interface. This helps the system more accurately recognize the correlation between gesture input and peripheral device operations. (IT Home)

New gene testing method can diagnose brain tumors within 2 hours

British researchers published a paper in the latest issue of the American Journal of Neuro - Oncology, introducing a newly developed ultra - fast gene diagnostic method for brain tumors. This method can shorten the diagnosis time of brain tumors from the previous 6 to 8 weeks to 2 hours. This gene diagnostic method for brain tumors was jointly developed by researchers and clinicians from institutions such as the University of Nottingham in the UK. Based on the portable sequencing device of Oxford Nanopore Technologies, this method can detect relevant regions of the human genome more quickly and sequence multiple DNA regions simultaneously, thus accelerating the entire testing process. (Xinhua News Agency)

Microsoft's Antitrust Lawsuit Against the Acquisition of Activision Blizzard Dismissed, Ending Nearly Two Years of Legal Disputes

The U.S. Federal Trade Commission (FTC) has officially dismissed the antitrust lawsuit against Microsoft's $68.7 billion (approximately 494.743 billion yuan at the current exchange rate) acquisition of Activision Blizzard. This decision came three days after the FTC's appeal request regarding the acquisition was rejected by the federal court, marking the official end of nearly two years of legal disputes.

Court documents show that the FTC "believes that dismissing the administrative lawsuit in this case is in the best interests of the public." This dismissal concludes all legal actions by the FTC since June 2022 to block the acquisition through means such as temporary restraining orders and injunctions.

Public information shows that Microsoft won the FTC review of its acquisition of Activision Blizzard in July 2023 and completed the deal a few months later in October. It had been nearly two years since Microsoft announced the acquisition. Although Microsoft has completed the acquisition, the FTC still retains the right of legal retrospection. According to the original plan, the agency could initiate an administrative trial process in July to require the separation of the merged companies, but this dismissal means a complete abandonment of that right. (IT Home)

Trump: Proposes a 50% tariff on the EU starting from June 1st

On May 23rd, US President Trump stated on his social media that he proposes to directly impose a 50% tariff on the EU starting from June 1st, 2025. (Jiemian News)

MINISO: As of March 31, 2025, the number of overseas stores has reached 3,213

36Kr learned that MINISO released its financial report for the first quarter of 2025. The financial report shows that the revenue from overseas business in the first quarter was 1.59 billion yuan, a year-on-year increase of 30%. At the same time, the proportion of overseas revenue in the group's total revenue continued to rise, increasing by three percentage points year-on-year. As of March 31, 2025, the number of MINISO's overseas stores has reached 3,213. Among them, in the US market, the total number of MINISO stores has exceeded 300, marking the entry into a new stage of large-scale operation.

Yangtze River Delta Railways Expected to Transport 17 Million Passengers During the Dragon Boat Festival Holiday in 2025

According to China Railway Shanghai Group Co., Ltd., this year's railway transportation period for the Dragon Boat Festival holiday will last from May 30th to June 3rd, a total of five days. During this period, Yangtze River Delta Railways is expected to transport 17 million passengers, with an average daily passenger volume of 3.4 million, representing a 6.8% increase compared to the same period last year (from June 7th to 11th). Among them, May 31st is expected to be the peak day of passenger flow, with the number of passengers sent on that day expected to exceed 3.8 million, setting a new record for the single - day passenger volume during the Dragon Boat Festival holiday in previous years. (CNR.cn)

Apple Officially Announces: From Now Until June 18th, Enjoy Additional Trade - in Discounts When Trading in for a New iPhone

36Kr has learned that Apple announced on its official website that from now until June 18th, customers can enjoy additional trade - in discounts when trading in for a new iPhone.

ZhiYuan's Response to Recruiting a Securities Affairs Supervisor: It's a Reserve Position

On May 23rd, it was seen on the BOSS Zhipin App that ZhiYuan Robotics posted a recruitment notice for the position of "Securities Affairs Supervisor". The job description includes assisting in promoting the IPO schedule and implementation plan, following up on the preparation and review of listing application documents, and being responsible for the compliance work of information disclosure after the company goes public. Regarding the recruitment of this position and the subsequent planning of the IPO project, a relevant person in charge of ZhiYuan stated that this position is a reserve position, but there is no more information to disclose regarding the IPO and listing. (Yicai Global)

Honor of Kings Tops the Global Mobile Game Revenue List in April 2025

36Kr learned that Sensor Tower released the "Top 10 Global Mobile Game Revenues in April 2025" list. The list shows that Honor of Kings, under Tencent, climbed four places month - on - month in the global mobile game revenue list in April 2025 and returned to the top of the global revenue list. Last War: Survival followed closely and jumped to the second place. Whiteout Survival, MONOPOLY GO!, and Royal Match ranked third to fifth on the global revenue list respectively.

The Cutting - Edge of AI

OpenAI Announces First International Deployment Project of "Stargate" in the UAE and Considers Expansion to the Asia-Pacific Region

On May 22nd, OpenAI announced that it has officially launched "Stargate UAE", the first international deployment project of its artificial intelligence infrastructure platform, Stargate. As the first partner project under the "OpenAI for Countries" initiative, OpenAI is collaborating with G42 (an AI company backed by the UAE's sovereign wealth fund) to build a 1GW (1000 megawatts) Stargate UAE cluster in Abu Dhabi. Among them, 200MW (megawatts) is expected to be put into operation in 2026. OpenAI stated that as part of the investment cooperation, G42 plans to make an equivalent investment in AI infrastructure in the United States. (Jiemian News)

QQ Browser Launches College Entrance Examination Agent "AI College Entrance Examination Assistant"

36Kr learned that on May 23rd, in order to better assist candidates in preparing for the college entrance examination and filling out college application forms, QQ Browser under Tencent launched the college entrance examination agent "AI College Entrance Examination Assistant", integrating AI capabilities into the entire process of the college entrance examination and providing useful AI tools. In addition to quickly obtaining comprehensive and authoritative college entrance examination information through AI, candidates can also, with the support of the Hunyuan large - model technology, intelligently generate and adjust personalized college application plans with one click and fill out the application forms in a scientific and efficient manner.

Financial Reports of Large Companies

Minniso: Total revenue in the first quarter reached 4.43 billion yuan, a year-on-year increase of 19%

36Kr learned that Minniso released its financial report for the first quarter of 2025. The financial report shows that the total revenue in the first quarter was 4.43 billion yuan, a year-on-year increase of 19%; the gross profit margin was 44.2%, up 0.8 percentage points from the same period last year, recording the highest gross profit margin level in the past first quarters. The adjusted net profit was 587.2 million yuan; the adjusted EBITDA was 1.04 billion yuan, a year-on-year increase of 7.5%, and the adjusted EBITDA rate was 23.4%, demonstrating high-quality business resilience and robust profitability. At the same time, Minniso Group has returned approximately 990 million yuan to shareholders so far this year, bringing stable and predictable returns to shareholders.

Tongcheng Travel Releases Q1 2025 Financial Report: Revenue Reaches 4.377 Billion Yuan, Cumulative Annual Service Volume Hits 1.96 Billion

36Kr learned that Tongcheng Travel released its performance report for the first quarter of 2025. The financial report shows that in the first quarter, the company achieved a revenue of 4.377 billion yuan, a year-on-year increase of 13.2%; the adjusted EBITDA reached 1.159 billion yuan, a year-on-year increase of 41.3%; and the adjusted net profit was 788 million yuan. It is understood that Tongcheng Travel's annual service volume reached 1.96 billion, and the annual paying users (APU) reached a record high of 247 million. Looking at the business segments, in the first quarter, Tongcheng Travel's accommodation business revenue increased by 23.3% year-on-year to 1.19 billion yuan; the transportation business revenue increased by 15.2% year-on-year to 2 billion yuan.

Cool Products

Intel Launches New Xeon 6 Processors

36Kr learned that the new Intel Xeon 6 processors launched by Intel on May 23 will serve as the CPU for the host of the new NVIDIA DGX B300 AI system.

Compiled | Guo Zihe