8 o'clock, Yike Moment | Tesla's market value drops below $1 trillion; Zhang Xuefeng's 168-yuan college entrance examination prediction papers are accused of being full of loopholes; Wang Ziru will respond to why he left Gree.
Going Public in Progress
Zhou Dafu
Recently, Zhou Dafu Jewelry Co., Ltd. passed the listing hearing on the main board of the Hong Kong Stock Exchange. CICC and CITIC Construction Investment International are its joint sponsors. According to the Aiqicha App, Zhou Dafu Jewelry Co., Ltd. was established in April 2004, with Li Weipeng as its legal representative and a registered capital of approximately 379 million RMB. (The Paper)
EasyThink (Hangzhou) Technology Co., Ltd.
36Kr learned that according to the official website of the Shanghai Stock Exchange, the application for the initial public offering of EasyThink (Hangzhou) Technology Co., Ltd. on the Science and Technology Innovation Board has been accepted.
Top 3 Big News
Zhang Xuefeng's 168-yuan College Entrance Examination Prediction Papers Alleged to Be Full of Flaws, Customer Service Refuses Returns and Refunds
Recently, the parent of a senior high school student in Henan spent 168 yuan to order the 2025 College Entrance Examination prediction papers in Zhang Xuefeng's team's live - streaming room. After finding errors in the questions, the parent reported the issue. The customer service admitted that there were mistakes in the questions but refused to process the return and refund, citing the reason that "returns are not supported after the seal of the prediction papers is broken". According to a third - party data platform, the book titled "Fengyue Wanjuan College Entrance Examination Prediction Papers" was put up for pre - sale from the end of March to the beginning of April this year, with a price of 168 yuan. Its sales volume on the Douyin e - commerce platform alone reached 25 million to 50 million yuan in April. (Blue Whale News)
Wang Ziru Restarts Posting and Will Respond to Why He Left Gree
On the afternoon of June 5th, Wang Ziru, whose Weibo account is verified as "Founder & CEO of ZEALER", posted a message saying, "Tomorrow, I'd like to take 15 minutes to let you know why I left ZEALER, why I left Gree, and why I chose to start a second business in the AI field. I'm looking forward to getting re - acquainted with you tomorrow." Previously, on June 3rd, Wang Ziru's Weibo account was renamed from "Wang Ziru ZEALER" to "Wang Ziru AI". At that time, the outside world thought that Wang Ziru might start a business in the AI field. Wang Ziru was an early - stage technology media person. He started making unboxing videos of digital products in 2009 and founded the technology media ZEALER in 2012. (Jiemian News)
Hidden models of Labubu on second - hand platforms can be marked up by 30 times, and Labubu is jokingly called "plastic Moutai"
Reporters from Yicai Global saw on some trading platforms that Labubu blind boxes with an original price of about 100 yuan are sold in the "box opened but bag unopened" mode, with prices ranging from 229 yuan to 3999 yuan. In particular, for the hidden models, the original price of about 100 yuan can be marked up by scalpers to over 2000 yuan to over 3000 yuan, that is, a markup of 20 to 30 times. And ordinary models are generally sold by scalpers at least at twice the price. For example, a single Labubu blind box priced at 99 yuan is generally sold at a premium of about 200 yuan to 600 yuan.
On a domestic second - hand platform, the highest price tag for the new products in the "High - energy Ahead" series reaches 100,000 yuan. Data from a trendy toy trading platform shows that the average transaction price of the hidden model "Ego" Labubu in the "High - energy Ahead" series, which has a release price of 99 yuan, has reached as high as 2237 yuan; the average transaction price of the hidden model "Choco - Chip" Labubu, also with a release price of 99 yuan, has reached 690 yuan. In the past year, although the price of "Choco - Chip" Labubu has fluctuated, it has always remained between 500 yuan and 850 yuan. (Yicai Global)
Big Companies/Important Events
Tesla's stock price plummeted, and its market value evaporated by over a trillion overnight
On June 5th local time, affected by the publicized conflict between Tesla CEO Elon Musk and Donald Trump, Tesla's stock price dropped by 14.26%, marking the largest decline in over four years. Its market value evaporated by more than $152.5 billion (approximately RMB 1.09 trillion). (Daily Economic News)
"Jiangsu Super League" is so popular that multiple cities need to change venues, and the bookings of Jiangsu scenic spots have soared by over 300%
The ongoing Jiangsu Provincial Urban Football League has recently attracted a large number of fans to watch the games, and has also driven a significant increase in the total cultural and tourism consumption in six host cities. As the originally scheduled stadiums can hardly meet the demand for spectators, recently, multiple cities in Jiangsu have applied to change to stadiums with more seats and better conditions such as lighting and turf. Official data shows that the "Jiangsu Super League" has currently attracted more than 180,000 fans to watch the games on - site in each host city, and the attendance rate is comparable to that of professional football leagues. Driven by the "Jiangsu Super League", local cultural and tourism departments have launched tourism packages for watching games and urban IP exhibitions, transforming the event traffic into an increase in cultural and tourism. From June 2nd to June 8th, the bookings of scenic spots in Jiangsu Province increased by 305% year - on - year. (CCTV Finance)
Wal-Mart Fined for Substandard Salt-Baked Cashew Kernels in Sampling Inspection
According to the public announcement of administrative penalty information by the Futian District Administration of Market Regulation of Shenzhen, on June 4, Wal-Mart (China) Investment Co., Ltd. was fined more than 279,000 yuan for food-related illegal acts; more than 10,000 yuan of illegal income was confiscated; the relevant responsible person, Dawn Ptak, was fined more than 27,900 yuan. The case involves the operation of substandard food (salt-baked cashew kernels) in sampling inspection. (Jiemian News)
The wholesale price of Feitian Moutai has fallen below 2,000 yuan in some regions
The price of Feitian Moutai has declined again. The wholesale price in some regions has fallen below 2,000 yuan per bottle, and the retail - end price has dropped to around 2,100 yuan. Some merchants said that in the past, when the price showed a downward trend, Kweichow Moutai often took measures such as halting or restricting the supply to stabilize the price. However, since the recent price fluctuations, Moutai has not restricted the shipment volume for the time being. (Yicai Global)
Trump Suspends Entry of Nationals from 12 Countries into the US
On June 4th local time, according to a statement released by the White House, US President Donald Trump has fully suspended the entry of nationals from 12 countries into the United States, both as immigrants and non - immigrants. These countries are Afghanistan, Myanmar, Chad, the Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen. In addition, Trump also announced partial restrictions on the entry of nationals from seven other countries, namely Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela. (CCTV News)
P&G Announces 7,000 Job Cuts in Two Years, Accounting for 15% of Non-Manufacturing Positions
Consumer goods giant Procter & Gamble (P&G) said on Thursday that as part of its non-core business restructuring plan, the company will cut 7,000 jobs globally over the next two years, accounting for about 15% of its non-manufacturing positions. P&G executives said at a Deutsche Bank conference in Paris that the company also plans to exit certain product categories, brands, and product forms in individual markets, and that it may involve the divestiture of some brands. As of June 30, 2024, the company had more than 100,000 employees. (Sina Finance)
Short-term "Suspension of Application" for Home Appliance Subsidies in Multiple Regions
Recently, there have been situations such as the suspension of applications for national subsidies for the replacement of old home appliances with new ones in many regions. On the JD platform, the page for national subsidies for home appliances in Chongqing shows that "the event is being upgraded, and you will not be able to claim or use the national subsidy discounts during the upgrade period." The national subsidies for smart home appliances in Hubei are also temporarily unavailable due to the event upgrade. Currently, the national subsidy event in Gansu is only open to users with delivery addresses in Lanzhou, and the events in other regions are being urgently prepared. According to the service hotline of the Chongqing Municipal Commission of Commerce, the subsidy funds for the first phase were used up on June 3rd, and the application has been suspended. The implementation policy for the second phase is still under research and formulation. (Cailian Press)
NIO Responds to Rumors of LeDao's Involvement in Ride - hailing Business: It's a Minor Misunderstanding, and It's Not a Bad Thing to Enter
Recently, a topic about the cooperation between LeDao Automobile and Didi's ride - hailing platform has been widely spread on the Internet. On June 4th, NIO stated in response to the media that this is a minor misunderstanding, and it is just a tactical arrangement by the regional company to promote car sales. (Yicai Global)
The number of millionaires globally reaches 23.4 million, and the United States remains in the lead
The "2025 Global Wealth Report" released on the 3rd by Capgemini, a management consulting firm headquartered in Paris, France, shows that in 2024, the number of millionaires globally who can invest at least $1 million reached 23.4 million, a year-on-year increase of 2.6%, hitting a new high. This is mainly due to the increase in the number of "ultra - high - net - worth individuals" who can invest at least $30 million. The company's report last year showed that in 2023, the number of "millionaires" globally reached 22.8 million, which had already set the highest record since relevant statistics began in 1997. The report also shows that, regionally, the United States still leads the world in the growth of the number of "millionaires", driving a significant 7.3% growth in North America as a whole. (Global Times)
Changan Automobile and other automotive businesses establish an independent central state - owned enterprise, and there is no plan to restructure with Dongfeng Motor for now
According to the announcement of Changan Automobile, after the spin - off, the indirect controlling shareholders of listed companies such as Changan Automobile, Hunan Tianyan, and Dongan Power under China South Industries Group will be changed to the newly established central automotive state - owned enterprise, but the actual controller will still be the State - owned Assets Supervision and Administration Commission of the State Council. The "Dongfeng - related" listed companies also issued announcements on the same day. Dongfeng Motor is not involved in the relevant asset and business restructuring for now, and the company's normal production and business activities will not be affected. As a central state - owned enterprise with core assets such as Changan Automobile and Jiangling Motors, the proportion of automotive business of China South Industries Group has been continuously increasing in recent years. The capital market has responded positively. As of the time of publication, the stock prices of "China South Industries Group - related" companies such as Changan Automobile, Zhongguangxue, Hunan Tianyan, Huaqiang Technology, and Dongan Power opened significantly higher. Among them, the stock price of Hunan Tianyan rose by more than 6%. (Jiemian News)
US Announces Visa Restrictions on International Students at Harvard
US President Donald Trump signed an executive order on the 4th, restricting visas for international students at Harvard University in the name of national security and suspending the entry of foreign citizens studying or participating in exchange programs at Harvard. Trump said he is still waiting for Harvard to provide a list of foreign students to determine how many students should not be allowed to enter the United States. "I want to make sure international students are people who love our country." (Xinhua News Agency)
Some stores of Lawson and FamilyMart in Japan have stocked up on reserve rice, which will gradually cover the whole country
Japanese convenience stores Lawson and FamilyMart began selling government reserve rice they purchased at some stores in Tokyo and Osaka on June 5. Lawson said that starting from June 14, it will stock 1-2 kg packs of government reserve rice at about 13,800 stores across the country except those in Okinawa Prefecture. FamilyMart will also gradually expand its sales to the whole country. (Cailian Press)
AMD Announces Acquisition of Open-Source Software Company Brium
On June 4th local time, AMD announced the acquisition of open-source software company Brium, without disclosing the terms of the transaction. AMD stated that Brium's experience in compilers and AI software will enhance AMD's ability to provide highly optimized AI solutions across the full stack, reducing developers' dependence on specific hardware configurations and enabling out-of-the-box AI performance acceleration. (Jiemian News)
Trump: "Very Disappointed" with Musk
On June 5th local time, US President Trump talked about Musk and said he didn't know if he could still maintain a good relationship with him. Trump said on that day that he was "very disappointed" with Musk. Trump said he would rather Musk criticized him than his tax reform bill. Trump said that Musk was very unhappy about the Trump administration's revocation of the electric vehicle "mandate". It is reported that the Trump administration also withdrew the nomination of Isaacman, recommended by Musk, for the position of Administrator of the National Aeronautics and Space Administration (NASA). Trump said that he could win Pennsylvania even without Musk. Trump said that Musk hasn't said anything bad about him personally so far, but he believes it will happen next. (CCTV News)
Canada Goose Announces New President for Greater China, a Former Executive of Zara's Parent Company
The down jacket brand Canada Goose has announced that Xie Lin will serve as the new president for Greater China, responsible for the direct - operated business in the Chinese mainland market. Xie Lin previously served as the vice - president and managing director of the central and southern regions of Greater China at the Spanish Inditex Group. He has also held senior positions at Zara, a brand under the Inditex Group, covering business areas such as retail, e - commerce, and marketing. (Jiemian News)
Citi to Streamline Tech Teams in Shanghai and Dalian, with Up to N+6 Severance Pay
On June 5th, Citi announced that as part of its ongoing global simplification efforts, it will make the next - stage adjustments to its global technology and business support departments. It will streamline its Global Technology Solutions Centers in Shanghai and Dalian, China, reducing approximately 3,500 technical staff. A reporter exclusively learned from employees at Citi's Shanghai Technology Center that on the morning of June 5th, relevant departments of Citi Financial held a meeting to read out the compensation plan for terminating labor contracts to employees. Citi will arrange for employees to sign agreements for negotiated termination of labor contracts in batches, and the compensation plan is higher than the legal standard. (21st Century Business Herald)
Haribo Responds and Confirms That Its Candies Contain Cannabis Ingredients in the Netherlands, but the Chinese Market Is Not Involved
Recently, multiple bags of Haribo candies in the eastern region of the Netherlands were detected to contain cannabis ingredients. According to CCTV News, Haribo has confirmed that traces of cannabis were detected in some one-kilogram packs of cola-flavored candies sold in the eastern market of the country. Many consumers, including children and adults, felt unwell after consuming the relevant candies.
On the morning of June 5th, Haribo (Shanghai) Trading Co., Ltd. stated that all products officially imported into China are exclusively produced at Haribo's factory in Turkey. The products involved in the Dutch incident are manufactured in different facilities and have never been officially distributed in the Chinese market. Therefore, all raw materials used in products destined for China remain unaffected. (Daily Economic News, China New Economy)
Coca-Cola Factory in Brazil Suspends Production Due to Potential Contamination
On June 4th, a malfunction was detected in the cooling system of a factory under the Brazilian soft drink company Solar that produces beverages for Coca-Cola. The Brazilian government stated that, for safety reasons, the production and bottling operations at the factory have been suspended. (Jiemian News)
General Motors Recalls 41,376 Cadillac Lyriq Vehicles in the US Due to Display Malfunction
On June 5th, according to the disclosure of the US National Highway Traffic Safety Administration (NHTSA), General Motors will recall a total of 41,376 Cadillac Lyriq vehicles from the 2023 - 2024 model years due to display malfunctions. (Jiemian News)
The three major U.S. stock indexes closed down collectively, with Tesla falling more than 14%
36Kr learned that at the close on June 5th, the three major U.S. stock indexes fell collectively. The Dow Jones Industrial Average dropped 0.25%, the Nasdaq Composite Index declined 0.83%, and the S&P 500 Index decreased 0.53%. Most large technology stocks fell. Tesla tumbled more than 14%, recording its worst single - day performance since March 10th; Advanced Micro Devices dropped more than 7%, and Apple, NVIDIA, and Intel declined more than 1%. Circle, the so - called "first stablecoin stock", soared 168% on its first day of listing. Popular Chinese concept stocks showed mixed performance. NIO fell more than 3%, XPeng Motors declined nearly 2%, and JD.com and Pinduoduo posted slight drops; Zhihu and 36Kr rose more than 2%, Baidu and Bilibili climbed more than 1%, and Alibaba edged up.
The First Max-Level QQ Account is About to Be Born: The Owner Inherited It from His Father and It's Currently at Level 255
The world's first "max-level" QQ account is about to be born, and its QQ level is about to reach 4 crowns. The current owner of the highest-level QQ account is named "Love Mustard", and the account has reached level 255, with 3 crowns, 3 suns, 3 moons, and 3 stars. This user inherited the account from his father and has been active on the QQ platform since 2000. This user has subscribed to all QQ membership services, and it is expected that the QQ level will reach the maximum next month. It is understood that in 2003, Tencent launched the QQ level system: the longer the online time, the higher the level. You can upgrade to a higher-level icon after accumulating 4 of the same-level icons. 4 stars can be exchanged for 1 moon; 4 moons for 1 sun; 4 suns for 1 crown. What lies beyond the crown is currently unknown. (Hangzhou Daily)
After selling 500,000 orders in 30 minutes, Huang Zitao directly holds shares in the affiliated company of the Douwei brand sanitary napkins
On May 30, information from the Aiqicha App showed that industrial and commercial changes have taken place in Zhejiang Douwei Nursing Products Co., Ltd., the affiliated company of the sanitary napkin brand "Douwei" founded by Huang Zitao. Huang Zitao has been added as a shareholder with a 15% stake, and the shareholding ratio of Hangzhou Hengyan Technology Co., Ltd. has decreased from 55% to 40%. Previously, Huang Zitao indirectly held shares in the company through Hangzhou Longzeling Network Technology Co., Ltd. According to Jiemian News, earlier Huang Zitao launched his first live - streaming sales event on the Douyin platform. In just 30 minutes, 500,000 sets of sanitary napkin combos were sold out, topping the Douyin personal care list. (Jiemian News)
The Cutting - Edge of AI
Musk: The next-generation AI chip Dojo 2 will be launched later this year
Musk said that progress is being made on Tesla's Dojo AI training computer. We will launch the next-generation AI chip Dojo 2 later this year. A new technology needs to go through three major iterations to become a great one. Dojo 2 is already very good, but Dojo 3 will definitely be even better. (Sina Finance)
Microsoft Open-Sources Athena Agent: AI Transforms Teams Workflow, Speeds Up Code PR Review by Up to 58%
On June 5th, Microsoft published a blog post on June 4th, announcing that the Teams app has integrated an AI agent named Athena to optimize the product development process. The relevant source code has been open-sourced and hosted on the GitHub platform for organizations and individuals to customize. Microsoft publicly demonstrated Athena to developers at the Build 2025 Developer Conference. Users don't need to switch between multiple apps. Athena can intelligently determine the next task and assist team members in completing tasks directly within Teams. (IT Home)
Cool Product
NVIDIA GeForce RTX 5050 Desktop Graphics Card to Be Released in July
On June 5th, sources told foreign media VideoCardz that NVIDIA plans to launch the GeForce RTX 5050 desktop graphics card this July. The RTX 5050 laptop GPU may be released at the same time, similar to the previous RTX 5060 series.
The RTX 5050 will be the debut of the smallest known dGPU, GB207, based on the "Blackwell" architecture on the desktop platform. It is expected to enable all 2,560 CUDA cores on the GB207, be equipped with 8GB of video memory, and have a power consumption of 130W. (IT Home)
Investment and Financing
Brand "Xianbingsao" Secures Tens of Millions in Angel Round Financing
36Kr learned that on June 5th, "Xianbingsao Catering" announced that its core brand "Xianbingsao" has successfully completed an angel round of financing worth tens of millions of RMB. The financing amount in this round reached 10 million RMB, led by a well - known domestic investment institution. The funds will be used for supply chain upgrading, expansion of Xianbingsao stores, and digital construction to accelerate the modernization of local cuisine.
Chengdu Zhucheng Electrical Equipment Co., Ltd. Completes 10 Million Yuan Angel Round of Financing
36Kr learned that recently, Chengdu Zhucheng Electrical Equipment Co., Ltd. announced the completion of a 10 million yuan angel round of financing. This financing will comprehensively empower the company's projects: it will be used for the upgrade of the intelligent production line of building electromechanical equipment to improve manufacturing efficiency and product precision; invested in new energy construction projects to accelerate the R & D of photovoltaic and energy storage system integration technologies; used to build a digital building materials supply chain platform to optimize resource allocation; and used for the expansion of power infrastructure projects and the reserve of professional talents.
"Captain BI" Completes Tens of Millions in Financing
36Kr learned that recently, "Captain BI" officially completed a strategic financing of tens of millions of yuan. This round was exclusively invested by the overseas alliance marketing platform PartnerBoost. The funds from this round of financing will be mainly invested in AI advertising, off-site marketing, multi-platform layout, and global services to fully implement Captain BI's strategy of "effective operation".
Major Events on 36Kr
The Kr-event short video column offers a vivid interpretation of major events in the business world. Xiaoma Women's Clothing, "Whose fault is it?"
2025 Mini Survey on "Metaphysical" Consumption
Friend, are you a fan of metaphysics? Do you always carry a talisman with you? When pondering over major life choices late at night, do you suddenly feel like having your fortune told? Do you check your horoscope every day before going out and even match your clothes according to your lucky color? When you have a crush on someone, is your first step to compare your star charts? Do you always forward the lucky koi before an exam or an interview? When everything goes wrong and you feel like you're having bad luck, do you want to buy some mysterious trinkets? Or perhaps you're a regular at temples and always go to pay your respects regularly?
Which school of metaphysics do contemporary young people believe in the most? How much influence does metaphysics have on their lives? What kinds of metaphysical products do they buy? Welcome to participate in this mini survey on "metaphysics". Share your metaphysical behaviors or fantastic experiences with us and contribute valuable data to this metaphysical consumption report!
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Compiled | Yuan Si