8:00, Yi Krypton News | At least 265 people were killed in a plane crash in India, with only one person on board surviving; Wei Dongyi's follower growth rate has been certified by the Guinness World Records; The CEO of Nezha Auto was surrounded by employees demanding unpaid wages.
Going public in progress
United Power
36Kr learned that the Listing Committee of the Shenzhen Stock Exchange announced that the initial public offering (IPO) application of Suzhou Inovance United Power System Co., Ltd. (hereinafter referred to as "United Power") has been approved.
Jiehuaite Microelectronics
36Kr learned that according to documents from the Hong Kong Stock Exchange, Jiehuaite Microelectronics Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.
Top 3 Big News
At least 265 people died in an Indian plane crash, with only 1 survivor on board
On the afternoon of the 12th, a Boeing 787 passenger plane of Air India crashed after taking off from the western Indian state of Gujarat. The ill-fated passenger plane carried 242 people. The latest data released by the Indian police shows that at least 265 people died in this accident. On the 12th local time, Indian Home Minister Amit Shah confirmed that only one passenger on board survived the accident. Relevant departments are collecting DNA samples from the relatives of the people on board, and the list of the deceased will be announced after the DNA testing is completed. In addition to the people on board, the accident also caused casualties on the ground. An official from the health department of Gujarat said after the incident that at least 50 people on the ground had been sent to the hospital for treatment. Early on the 13th Beijing time, the Indian Ministry of Civil Aviation announced that the on - site search and rescue operation for this accident had ended. (CCTV News)
Wei Dongyi's Follower Growth Rate Certified by World Record, Gaining 440 Followers per Minute
It is reported that recently, Wei Dongyi, a teacher at the School of Mathematical Sciences of Peking University, has attracted public attention after joining a short - video platform and posting a video. Currently, the number of followers of Wei Dongyi's account is approaching 25 million, and the number of likes on his videos is approaching 15 million. According to the official and authoritative release of the World Record Certification Agency (WRCA), Wei Dongyi has been officially recognized as "the person who has gained the most followers in the academic field on the Douyin platform within 72 hours".
On the morning of the 11th, a media reporter contacted the China office of the World Record Certification Agency. The staff responded that the news was true. However, he was the fastest in gaining followers in the academic field. Among all accounts, Andy Lau ranked first in terms of follower growth rate, while Wei Dongyi ranked second. It is understood that Wei Dongyi's account was opened on June 4th, during the countdown to the college entrance examination. A 4 - second self - introduction video made the number of followers of his account start to "soar". In just three days, the number of followers of Wei Dongyi's Douyin account soared from 0 to more than 19 million, with an average of 440 new followers per minute. (Qilu Evening News)
Nezha Auto CEO Surrounded by Employees Demanding Wages, Company Facing Internal Turmoil
It is reported that on June 12th, Nezha Auto's headquarters announced that employees would work from home starting from that day. Chairman Fang Yunzhou has gone to Tongxiang City, Zhejiang Province. This move is a decision for internal adjustment. The office access control has become invalid. Employees need to report to the relevant local departments and the property management through the administrative department if they want to move out their personal belongings. This news was revealed by an insider at Nezha Auto and confirmed by current employees.
Another report shows that on June 11th, a video showed that many employees were sitting around the new office door of Fang Yunzhou, the chairman and CEO of Nezha Auto, demanding wages. In the video, Fang Yunzhou said he wanted to have a chat and asked, "Why does it have to be like this when we've all worked together in the company?" After that, Fang Yunzhou walked into the office. After hearing Fang Yunzhou's words, many employees demanding wages retorted, "What's your attitude?" In another video, Fang Yunzhou said a few brief words and then closed the door casually. As early as the end of May, the logo of Nezha Auto's Shanghai headquarters was removed overnight, and then the office location was also moved elsewhere. On the first day of operation of the new headquarters, a video of employees demanding wages was leaked. (GuanDianWang, JRRJ)
Large Companies/ Major Events
Joe Tsai Says Alibaba Engineers Worked Through the Spring Festival to Catch Up with the AI Wave
According to reports, on June 12, Alibaba Chairman Joe Tsai said in a speech in Paris, France on Wednesday that when he returned to the leadership position in mid - 2023, he admitted that Alibaba had made mistakes in the past, and the group had somewhat lost its direction and expanded too much. The group is committed to re - establishing its leadership position in the Chinese technology field, with artificial intelligence (AI) and cloud infrastructure as the key pillars of its strategy. Earlier this year, AI startup DeepSeek launched a new, low - cost and powerful AI inference model, catching major competitors off guard. After reading the relevant research papers, Joe Tsai said bluntly, "Oh my god, how did we fall behind? We've been doing the same old thing." This incident prompted an accelerated response within Alibaba.
Joe Tsai said that Alibaba Group's engineers canceled their holidays, stayed at the company during the Spring Festival, slept in the office, and continued to work hard to catch up. They launched their own version of the Tongyi Qianwen (Qwen) series of models within a few weeks. Alibaba has promised to invest more than 38 billion yuan in the next three years to expand its AI infrastructure and enhance the training and inference capabilities related to Alibaba Cloud. The group's strategy relies on supporting the development of open - source models while driving the commercial demand for cloud services. (Viewpoint Network)
Tencent Plans to Acquire the Developer of KartRider
On June 12th, according to a report by Bloomberg today, Tencent is reportedly considering acquiring South Korean game developer Nexon for $15 billion (approximately 107.908 billion yuan at the current exchange rate). Tencent has approached the controlling family to discuss a potential acquisition. People familiar with the matter revealed that Tencent has contacted the family of the late founder of Nexon, Kim Jung-woo, to discuss the possibility of an acquisition. The people also said that Kim Jung-woo's family has been talking to advisors and evaluating options. (IT Home)
QQ Responds to Massive Pop-up Game Ads
Recently, some Windows PC users noticed that Tencent QQ popped up an ad for a certain game in the lower right corner of the desktop. Moreover, the ad had no signs at all. It neither marked the word "Advertisement" nor showed the source of the ad. Even if users had turned off the pop-up ad push in the QQ settings, the ads still popped up, which caused dissatisfaction among many users. In response, Tencent QQ's public relations department contacted LanDianWang to explain: The ads pushed this time were not newly launched ad content. Instead, due to an internal system bug, previously pushed ads appeared on some users' PCs. The QQ team fixed this issue on the day it occurred. (Kuaikeji)
Tencent Vice President Responds to the Skill Level of AI in Honor of Kings: It Can Defeat Professional Players
On June 11th in Chengdu, Sichuan Province, at the site of the Second Belt and Road Science and Technology Exchange Conference, Cai Guangzhong, the vice president of Tencent, said in an interview that the AI assistant in Honor of Kings can defeat professional players. Initially, the AI in Honor of Kings was developed to replace players who dropped out of the game. One year later, the AI named "Juewu" was developed. It can learn by itself during the game, and eventually it can even defeat professional players in the game. (Sichuan Observation)
Yuan An Responds to the Attention Caused by His Long Post: Don't Exploit Jack Ma. He Left Because He Wanted to Change His Lifestyle
According to reports, recently, Yuan An, a 15-year veteran employee of Alibaba DingTalk, posted a heartfelt long post on Alibaba's internal network before leaving the company. In the post, he expressed his nostalgia for Alibaba's past and shared many thoughts on Alibaba's development. The post also caught Jack Ma's attention. He wrote, "Hello, classmate Yuan An. Thank you for your long letter. It's well-written. Just like a person's growth, Alibaba's development also has many inevitable paths and processes. Alibaba is undergoing changes. I wish you well and hope you'll come back to visit often."
On June 12th, Yuan An posted a video on a social platform to respond to this matter. He said that since he had already left the company, he couldn't reply to the post. He thanked Jack Ma and Wuzhao for their blessings. "I'm glad that Mr. Ma could see it. Once it's seen, there's hope for change. Alibaba has always been a very unique company. We established values and incorporated them into our performance evaluations, which shows that we really value them. As long as we can face these issues, we can solve them, and this company will surely become better and better." In addition, Yuan An also responded to several issues that the public was concerned about: First, the post about leaving was written for Alibaba's internal staff, and he hoped that everyone would be kind. Second, his position level was P8, not P9, and he was not an executive. Third, he explained what he thought of the so - called "Alibaba spirit". Finally, he also mentioned the reason for his departure. He left voluntarily just because he wanted to change his lifestyle. It wasn't about waiting for stock options, and he wasn't financially free. "But we're not just born for money. We should pursue our dreams." Yuan An's social platform profile reads, "Former 15 - year veteran of Alibaba, with the nickname Yuan An, a senior product expert. He has moved to New Zealand to explore a new life. This account shares his life in New Zealand." (Kuaikeji)
"Sichuan Super League" is coming. Sichuan Sports Bureau: Learn from the development experience of the "Suzhou Super League"
Recently, with the popularity of the "Suzhou Super League", some netizens left messages on the Sichuan Government Affairs Inquiry Platform, calling on Sichuan to hold a similar football event. In response, the Sichuan Provincial Sports Bureau replied that the "Bashu Roar Cup" Sichuan Super League will learn from the healthy development experience of the "Suzhou Super League", improve the event system, strengthen supervision, promote fair competition, and mobilize social forces to participate, so as to promote the development of mass football and campus football and contribute to national fitness. (Yicai Global)
He Xiaopeng Discusses Entering the Hong Kong Market
On June 12th, He Xiaopeng, the Chairman and CEO of XPeng Motors, stated at the 2025 Hong Kong Auto Expo that XPeng Motors hopes to be among the first companies to bring high - level intelligent driving assistance to Hong Kong. He said, "XPeng Motors is working on several things. Firstly, it is preparing the relevant vehicles. XPeng hopes that all models entering Hong Kong next year can be equipped with high - level intelligent driving assistance. Secondly, if the relevant policies can be formulated, XPeng hopes to be one of the first companies to have its vehicles on the road. As for the subsequent software development and testing, XPeng can complete them within two months." (Yicai Global)
GAC Toyota Officially Announces Cooperation with Xiaomi Auto
On June 12th, GAC Toyota held its 2025 Technology Day and announced that it had reached a cooperation agreement with Xiaomi. GAC Toyota has officially joined Xiaomi's "Smart Mobility, Home, and You" ecosystem. The bZ7X will be the first model to be equipped with it and will open up the hardware ecosystem interface. In the future, more Xiaomi ecosystem devices, such as Xiaomi smart walkie - talkies and Xiaomi car phone holders, will be seen in GAC Toyota models. Previously, Lei Jun, the founder, chairman, and CEO of Xiaomi Group, has repeatedly stated in public that he hopes to standardize the interface of the smart car ecosystem. (Yicai Global)
GAC Toyota Announces Cooperation with Huawei
36Kr learned that GAC Toyota's official Weibo account released information stating that GAC Toyota and Huawei have launched the upgraded version 2.0 of their cooperation, which has been upgraded from point-to-point cooperation on in-vehicle infotainment systems to all-round face-to-face cooperation.
Ministry of Commerce: Urge the US to abide by WTO rules and jointly promote the stable and sustainable development of China-US economic and trade relations
On June 12, the Ministry of Commerce held a press conference. The spokesperson introduced the latest developments in key work in the business field and answered questions from journalists. When talking about China-US economic and trade relations, He Yadong said that at the first meeting of the China-US economic and trade consultation mechanism, the two sides discussed and reached an agreement on implementing the consensus reached in the phone call between the two heads of state on June 5 and the framework of the consensus reached in the Geneva talks. New progress has been made in addressing each other's economic and trade concerns. China's stance against unilateral tariff hikes is consistent. China urges the US to abide by WTO rules and jointly promote the stable and sustainable development of China-US economic and trade relations with China in accordance with the principles of mutual respect, peaceful coexistence, and win-win cooperation. (CCTV News)
Smart Glasses Sales Soar by 800%
Benefiting from the in - depth integration of large AI models and augmented reality technology, the smart glasses market has been heating up recently, with brisk sales both online and offline. The person - in - charge of the digital business department of an e - commerce platform introduced that the smart glasses market has shown explosive growth, with the trading volume increasing by more than eight times year - on - year. Data shows that the global shipment of smart glasses is expected to reach 12.8 million units in 2025, a year - on - year increase of 26%. Among them, the Chinese market will exceed 2.75 million units, a year - on - year increase of as high as 107%, ranking first in the world. With the continuous maturity of smart glasses' software and hardware, the prices of terminal products will continue to decline in the future. The general manager of the extended reality business line of a consumer electronics brand introduced: "Glasses using optical waveguides are a bit more technically challenging, so their prices are generally in the range of $2,000 to $3,000. The prices of movie - watching glasses have now dropped to the range of $1,000 to $2,000." (CCTV Finance)
TikTok Releases Announcement on Curbing Internet "Jargon and Trite Catchphrases"
On June 12th, TikTok released an announcement on curbing internet "jargon and trite catchphrases". Recently, the platform has found that a small number of accounts still attempt to post "jargon and trite catchphrases" in forms such as "homophonic puns", "abbreviated words", "disassembled words", and "combination of pictures and texts", which causes obstacles for the public to understand information. Many of the above - mentioned information and behaviors are not normal and reasonable development and updates of language and characters. Instead, they deliberately use non - standard expressions like "jargon and trite catchphrases" to spread pornographic and vulgar content, bad culture, swear words, or incite opposing contradictions and other illegal and inappropriate information. The platform will continue to handle the above - mentioned content. (Jiemian News)
The three major U.S. stock indexes closed higher collectively, while large technology stocks showed mixed performance
36Kr learned that at the close on June 12, the three major U.S. stock indexes rose collectively. The S&P 500 index rose 0.38%, the Dow Jones Industrial Average rose 0.24%, and the Nasdaq Composite rose 0.24%. Large technology stocks showed mixed performance. Microsoft and NVIDIA rose more than 1%, while Intel, Apple, and Amazon posted slight gains. Tesla fell more than 2%, and Google, Netflix, and Meta posted slight declines. Most popular Chinese concept stocks fell. XPeng Motors fell more than 5%, NIO fell more than 3%, and Li Auto, Bilibili, Alibaba, and Miniso fell more than 1%. Tencent Music and iQiyi rose more than 1%.
Trump: "Gold Card" Website for Immigrants Launched
On June 11 local time, Trump posted a website URL on his social media platform "Truth Social" and announced the launch of the "Gold Card" website. Trump said that the waiting list for registering for the "Gold Card" is now open on this newly announced website. On February 25 local time, Trump told the media at the White House that he intended to sell U.S. "Gold Cards" priced at $5 million, targeting wealthy immigrants. According to him, this kind of "Gold Card" will not directly grant the purchaser U.S. citizenship, so it does not need to go through the U.S. Congress, but it will confer the same rights as a "Green Card" and is a "powerful path to obtaining U.S. citizenship." Trump said that the federal government could sell 10 million "Gold Cards" to reduce the deficit. (CCTV News)
Musk Urges European Authorities to Approve FSD Technology for Deployment as Soon as Possible
Tesla CEO Elon Musk has called on European authorities to approve Tesla's "Full Self-Driving" (FSD) technology for deployment as soon as possible. Currently, the company is preparing for the launch of robotaxis in Austin, Texas, USA on June 22. The billionaire cited a post by a Swedish Tesla owner on social media platform X on Wednesday, saying, "Waiting for approval from the Dutch authorities and then the EU." Musk then said that the process of waiting for authorities to approve the deployment of FSD technology in Europe is "extremely frustrating" and that it "harms people's safety." He then added that using Tesla's advanced Autopilot technology while driving "can reduce harm by four times!" (Sina Finance)
Hardware Failure of a 'Raptor' Engine Caused the Eighth Test Flight Failure of US 'Starship'
On the 12th local time, the US Federal Aviation Administration (FAA) stated that the investigation into the accident of the eighth test flight of the 'Starship' spacecraft of SpaceX, a US aerospace company, has been completed. Currently, there are no reports of public casualties or damage to public property. The FAA has accepted the investigation results led by SpaceX. The investigation found that the root cause of the 'Starship' vehicle's crash was a hardware failure of one of its 'Raptor' engines. In addition, the FAA has confirmed that SpaceX has taken corrective measures before the ninth test flight mission of the 'Starship'. (CCTV News)
Jensen Huang Says NVIDIA's First GPU Was Produced in France, Macron Responds by Vowing to Make France Lead Again
On June 11th, French President Emmanuel Macron stated that France will manufacture the world's most advanced chips to position itself as an important European technology hub. On Wednesday, at VivaTech, one of France's largest technology events, NVIDIA CEO Jensen Huang said during a panel discussion with Macron and Arthur Mensch, the CEO of Mistral AI, that NVIDIA's first graphics processing unit (GPU) was produced in France by SGS Thomson Microelectronics (now known as STMicroelectronics). Macron said on Wednesday, "If we want to strengthen our industry, we must now obtain more and more chips on an appropriate scale." (Sina Finance)
AutoNavi Maps Launches Ride-Hailing Service in Japan
36Kr learned that on June 12, AutoNavi Maps, a subsidiary of Alibaba Group, officially launched its ride-hailing service in Japan, covering popular tourist cities such as Tokyo, Osaka, Nagoya, Yokohama, and Kyoto. By partnering with "GO", a leading taxi platform in Japan, AutoNavi is extending its well - established travel service model in the Chinese market to the Japanese market, marking another significant step in AutoNavi's internationalization strategy.
Japan Releases 120,000 Tons of 2021 Rice
On June 11, to stabilize rice prices, the Japanese government initiated the release of a new batch of reserved rice, totaling 120,000 tons, all produced in 2021. If all of this batch of rice is subscribed to by retailers, an additional 100,000 tons of reserved rice produced in 2020 will be released. In recent days, the reserved rice has been successively put on the market in many parts of Japan, triggering a rush among the public. In places such as Kagoshima Prefecture and Hiroshima Prefecture, there have even been situations where thousands of people queued up in long lines and waited overnight. (CCTV News)
The Cutting - Edge of AI
Reports say OpenAI is discussing financing with Saudi and Indian investors
The Information reported on Wednesday, citing people familiar with the matter, that OpenAI has held consultations with Saudi Arabia's Public Investment Fund (PIF), India's Reliance Group, and existing shareholder MGX from the UAE regarding its $40 billion financing plan. (Sina Finance)
Bull Group Reaches Full-Stack AI Cooperation with Alibaba Cloud
36Kr learned that recently, Bull Group (hereinafter referred to as "Bull") has reached a full-stack AI cooperation with Alibaba Cloud. The two parties will jointly create products based on Tongyi Qianwen large model and AI computing power, and jointly explore edge-side intelligent solutions. In the future, Bull will also expand globally based on Alibaba Cloud's global infrastructure.
Barbie doll maker Mattel partners with OpenAI, expected to launch its first AI product this year
On June 12th, Mattel, the maker of Barbie dolls, said it has partnered with OpenAI to develop AI toys and games, and it is expected to launch its first AI product later this year. (Jiemian News)
Quark Releases First College Entrance Examination Volunteer Big Model
36Kr learned that on June 12th, Quark released its college entrance examination volunteer filling product for 2025, introducing three core functions: "In - depth College Entrance Examination Search", "Volunteer Report", and "Intelligent Volunteer Selection". Relying on the first self - developed college entrance examination volunteer big model in China and a professional college entrance examination knowledge base, the product has realized the entire auxiliary decision - making process from asking complex questions to outputting volunteer reports. Among them, the "Volunteer Report" is the only intelligent Agent in China that can generate a complete report, and it is currently open for trial use.
Investment and Financing
"UPDF" Completes Tens of Millions in Pre - A+ Round Financing
36Kr learned that "UPDF" has recently completed a Pre - A+ round of financing worth tens of millions of RMB. This round was jointly led by Kaide Saien Venture Capital and Shanghai Anting Industry, with existing shareholder HanYi Co., Ltd. participating in the follow - on investment. The raised funds will be further focused on "AI + Commercialization". According to the introduction, UPDF is an office efficiency service provider equipped with AI and possessing core underlying technologies for PDF. It has served millions of enterprises and individuals in different countries and languages in the global market. Since its establishment, it has received multiple rounds of financing from market - oriented funds, industrial capitals, listed companies, etc.
"Innovation Health" Completes Series A+ Financing
36Kr learned from Huachuang Capital that "Innovation Health" announced the completion of a Series A+ financing round worth tens of millions of yuan. This round of investment was led by Tianchuang Capital, with participation from new investors and existing shareholders. The raised funds will be mainly used for the clinical validation and advancement of the company's product pipeline and the innovation of the gene delivery platform.
Compiled | Dingding Chow Mein