Krypton Evening News | The peak order volume of Taobao Flash Sale and Ele.me exceeded 60 million orders; Titanium Tiger Robotics received over 100 million yuan in financing from China Mobile and Ant Group; Li Qiang signed a State Council decree to promulgate the Regulations on the Submission of Tax-related Information by Internet Platform Enterprises.
Large Companies:
Hillhouse Capital Participates in Bidding for Starbucks China Business
36Kr learned that according to foreign media reports, insiders revealed Hillhouse Capital recently attended Starbucks' reverse management roadshow for its China operations, expressing acquisition interest. Other participants included Carlyle Group and Xinchen Capital. The transaction structure remains undecided, with Starbucks China valued at $5-6 billion. Goldman Sachs acts as exclusive financial advisor, expecting the deal to conclude by 2026.
Taobao Flash Sale and Ele.me Surpass 60 Million Peak Orders
36Kr exclusively reports Taobao Flash Sale and Ele.me exceeded 60 million peak orders during 618 promotions. Taobao contributed nearly 40 million orders while Ele.me surpassed 20 million. Internal projections estimate combined orders reaching 80 million by August 30. This marks the first phase of Alibaba's instant retail strategy focusing on order volume, DAU, and purchase frequency from April 30 to August 30.
News Corp Extends CEO Thomson's Contract to 2030
News Corp announced on June 22 the board extended CEO Robert Thomson's contract through June 2030. The 64-year-old CEO, serving since 2013, previously had a contract until 2027. Under his leadership, News Corp transformed with Dow Jones, digital real estate services, and book publishing as core businesses. (Sina Finance)
Tesla Tests Driverless Taxis in Texas
Approximately 10 Tesla driverless taxis began trial operations in Austin, Texas on June 22, offering $4.2-per-ride services to invited users. This marks Elon Musk's company's first paid autonomous taxi trial. (Xinhua)
CATL, Ant Group, Hello Establish Shanghai Tech Firm
Shanghai Zaofu Intelligent Technology Co., Ltd. was established with ¥1.288 billion registered capital. Shareholders include CATL subsidiary Ningbo Meishan Wending Investment, Ant Group's Shanghai Yundang, and Hello's Shanghai Junha Network. Business scope covers AI development, new materials R&D, and cybersecurity software.
Investment and Financing:
Titan Tiger Robotics Secures 100M+ Yuan from China Mobile & Ant
Titan Tiger Robotics completed over ¥100 million financing from China Mobile and Ant Group, marking Alibaba ecosystem's first entry into humanoid robot core components. Established in 2020, the Shanghai-based company focuses on intelligent robotics and AI hardware sales.
Hefei Yushan Yishan Completes Tens of Millions Angel Round
Hefei Yushan Yishan announced tens of millions in angel funding for AI system upgrades and Yangtze River Delta housing expansion, strengthening its "trustee investment + full-link service" competitiveness.
New Products:
Douyin Debuts AI Food Assistant "Tanfan" via Mini-Program
ByteDance's growth team developed "Tanfan" using Doubao large-model, offering food guidance through Douyin mini-programs. Subsidiary Beijing Youzhuju owns the service, with "Tanfan" trademarks filed in 2023. (21st Century Business Herald)
Alibaba Cloud Launches PAI-TurboX, Halves Autonomous Driving Training Time
Alibaba Cloud released PAI-TurboX acceleration framework on June 23, improving autonomous driving model training/inference efficiency by 50% across perception, planning, and world models.
Digital Domain Unveils AI-Powered "Hamburger" Visual Solution
Digital Domain launched AI-driven "Hamburger" solution for creating impactful short videos, currently applied in commercials, gaming visuals, and immersive experiences.
Kugou Music Releases HarmonyOS-Native App with Cross-Device Continuity
At HDC 2025, Kugou Music launched the first HarmonyOS music app using ArkTS language, achieving lossless cross-device playback synchronization between phones, tablets, and HarmonyOS computers.
NetEase Youdao Open-Sources Math-Focused Confucius3-Math Model
NetEase Youdao open-sourced Confucius3-Math on June 23, China's first math education model running on consumer GPUs. Trained with $26k cost, it demonstrates 15x inference speed over DeepSeek R1 in solving Chinese math problems.
Other Noteworthy News:
CPPCC Standing Committee Convenes to Discuss Economic Reforms
The 14th CPPCC National Committee's 12th Standing Committee session opened June 23 in Beijing, discussing "deepening economic reforms to promote Chinese-style modernization". Chairman Wang Huning attended discussions on water infrastructure, fertility policies, AI applications, and Greater Bay Area integration. (Xinhua)
State Council Issues Regulations on Platform Tax Reporting
Premier Li Qiang signed State Council Decree enacting "Internet Platform Enterprise Tax Information Reporting Regulations", effective immediately. The 14-article regulation standardizes tax reporting requirements, exemptions, data security, and penalties for non-compliance. (Xinhua)