At 8 a.m., here are the latest news: Multiple express delivery companies including SF Express have refused to accept Romoss power banks; ByteDance has announced the handling results regarding the affair between the head of its large model team and an HRBP; The identities of 259 victims in the Indian plane crash have been confirmed.
Going Public in Progress
Standard Robots (Wuxi) Co., Ltd.
36Kr learned that recently, Standard Robots (Wuxi) Co., Ltd. submitted a listing application to the Main Board of the Hong Kong Stock Exchange. CITIC Securities and Guotai Junan International are the joint sponsors. According to the Aiqicha App, Standard Robots (Wuxi) Co., Ltd. was established in June 2016. The legal representative is Wang Yongkun, and the registered capital is approximately 22.1052 million yuan. Its business scope includes the R & D of intelligent robots, the development of artificial intelligence application software, and the sales of intelligent robots. Financing information shows that the company has completed multiple rounds of financing, and the investors include Bohua Capital, Xiaomi Group, CITIC Construction Investment Capital, etc.
TIANKANG BIOLOGY
36Kr learned that TIANKANG BIOLOGY announced that its controlled subsidiary, TIANKANG PHARMACEUTICAL, plans to publicly issue shares and list on the Beijing Stock Exchange. It has submitted application materials to the Beijing Stock Exchange and received the "Acceptance Notice" issued by the Beijing Stock Exchange on June 23.
Dajin Heavy Industry
36Kr learned that Dajin Heavy Industry announced that the company plans to issue foreign shares for overseas listing (H shares) and list on the Main Board of The Stock Exchange of Hong Kong Limited to further consolidate its global strategic layout and enhance its comprehensive competitiveness in the international market. This issuance still needs to be filed or approved by the China Securities Regulatory Commission, the Hong Kong Stock Exchange and the Hong Kong Securities and Futures Commission. In addition, the company also plans to convert into a company limited by shares for overseas fundraising, and has reviewed and passed a number of proposals regarding the company's issuance of H shares and listing on the Hong Kong Stock Exchange.
Top 3 Big News
SF Express and Other Courier Companies Refuse to Accept Romoss Power Banks, Recall of 490,000 Romoss Power Banks Stalled
Recently, Shenzhen Romoss Technology Co., Ltd. reported a recall plan to the Shenzhen Municipal Market Supervision and Administration Bureau in accordance with the requirements of the Interim Provisions on the Administration of Consumer Product Recalls. A total of 491,745 units of three models of products are to be recalled.
However, many consumers have generally reported that after the recall of Romoss power banks was announced, they encountered difficulties in sending them back, as many courier companies refused to accept the power banks. According to media reports, on June 23, an important notice from a courier company regarding "special circumstances for the collection of battery-related goods" stated that for the three models of Romoss power banks with quality issues under recall, these problematic products pose extremely high safety risks. To prevent vehicle fires caused by shipping, the collection of Romoss power banks with damaged packaging and destined for Jiangmen, Guangdong should be prohibited.
The official customer service of SF Express also said that to control the risk of spontaneous combustion, it has stopped collecting batteries, mobile phone batteries, lithium batteries, storage batteries, power banks, and portable Wi-Fi devices, including the recently controversial Romoss power banks. Previously, under user pressure, Romoss launched a "self-disposal" process on June 22. A Romoss staff member told media reporters that if the product is within the recall scope and the courier company refuses to collect it, a special commissioner will contact the consumer. The consumer can then follow the instructions to perform harmless disposal on their own and then register for a refund. The specific disposal plan will be subject to the one provided by the commissioner. (China Consumer Daily)
A former employee of ByteDance's Seed was dismissed for seriously violating company regulations, and the full-year-end bonus was withheld
On June 24, it was reported that a notice recently issued by ByteDance's Corporate Discipline and Professional Ethics Committee showed that a former employee in the company's Seed department had an undeclared intimate relationship with a former HRBP (Human Resources) who supported their team. This situation falls into the prohibited scenarios stipulated in the company's conflict-of-interest management regulations (such as superior-subordinate relationships, having the same direct supervisor, or one being the other's HRBP). The two failed to report the conflict of interest as required and made false statements multiple times during the investigation, seriously violating the company's regulations. According to the notice, ByteDance has dismissed the two individuals and withheld their full-year-end bonuses.
In March this year, a whistleblower document about Qiao, the person in charge of ByteDance's Doubao large model team, circulated online. The incident also involved Cheng, an HRBP in the same group as Qiao. The whistleblower document showed that there was a suspected improper intimate relationship between Qiao and Cheng. (The Paper)
Identities of 259 Victims in Indian Plane Crash Confirmed
It was learned on June 24 local time that the DNA of 259 victims in the Indian plane crash has been successfully matched, including 240 passengers and 19 ground personnel. The DNA test result of one passenger on the plane is still pending. In addition, the remains of 256 victims have been handed over to their families.
On the afternoon of June 12 local time, a Boeing 787 "Dreamliner" of Air India flying from India to the UK crashed shortly after taking off from Ahmedabad Airport. The plane involved carried 242 people, and only one survived. The accident also caused casualties among ground personnel. As of now, a total of 279 people have died. This is the first fatal plane crash of the Boeing 787 model, and many countries have sent teams to assist in the investigation. (CCTV News)
Big Companies/Big Events
The 2025 New Fortune Wealth Creation List is announced. Zhong Shanshan loses the top spot, and Liang Wenfeng enters the top ten
On June 24th, New Fortune magazine released the 500 Wealth Creation List for the 23rd time. Zhong Shanshan, the founder of Nongfu Spring who had won the top spot for four consecutive years, saw his shareholding wealth evaporate by nearly 100 billion yuan this year and dropped to the second place with 360 billion yuan.
In terms of wealth growth rate, the most significant increase in wealth among the top 10 is undoubtedly the Lei Jun family (Xiaomi Group/Shunwei Capital). Their stock market value in 2025 is 201 billion yuan, a surge of 96% compared to 2024, and their ranking has also jumped significantly from 14th last year to 6th.
It is worth mentioning that DeepSeek, with a monthly active user base of over 180 million, has propelled Liang Wenfeng into the top ten with a shareholding valuation of 184.6 billion yuan. (Jiemian News)
(Reply with the keyword: Wealth Creation List in the WeChat backend to get the full list)
Apple's official website supports national subsidies for the first time, with a maximum subsidy of no more than 2,000 yuan
On June 24th, it was reported that Apple's official website supports national subsidies for the first time. The event page shows that selected products are eligible for national subsidies of up to 2,000 yuan. Specifically, eligible consumers can enjoy a 15% national subsidy on top of the final price when purchasing participating iPhones, iPads, and Apple Watches. The subsidy for each item is no more than 500 yuan, and this applies only to single items with a final price of no more than 6,000 yuan. When purchasing participating Macs, consumers can enjoy a 20% national subsidy on top of the final price, with a maximum subsidy of no more than 2,000 yuan per item.
It should be noted that this event is only available at the Apple Store Online Store (for delivery addresses in Beijing) and Apple Store retail stores (in Shanghai). Orders participating in the national subsidy program cannot be combined with the iPhone Upgrade Program, Apple Trade In program, or AppleCare+ service plan. Partial refunds, exchanges, and price protection are not available for orders participating in the national subsidy program. Consumers also need to cooperate with the courier to complete necessary steps, such as unpacking the product on - site, activating the product, and taking photos for archiving. (Jiemian News)
Tencent Apologizes for QQ Crashes with Error Messages: The Issue Affecting a Small Number of Desktop QQ Users Has Been Fixed
On the afternoon of June 24th, Tencent QQ issued a statement saying that around 11 a.m. on June 24th, a small number of desktop QQ users encountered crashes with error messages. The issue was quickly resolved by noon, and now the service is back to normal. We sincerely apologize for any inconvenience caused. (NBD)
Starbucks Says It's Not Considering a Full Sale of Its China Business
On June 24, Starbucks, the U.S. coffee chain giant, said it is not currently considering a full sale of its China business. Earlier reports claimed that the company was considering selling its China business but did not disclose the source of the information. Starbucks declined to comment further on the details of the potential sale process. (Sina Finance)
Kao Japan Responds to the Recall of Curél Lotion: It Does Not Affect the Chinese Market
Recently, Kao's official website in Japan issued a notice stating that some batches of its 410ml (pump-type) Curél lotion will be recalled due to the incorrect filling of the old formula. According to Japan's Jiji Press, the number of products to be recalled reaches 165,000. Kao China responded that the relevant batches of products were not sold in the Chinese market. (Jiemian News)
Changan Automobile Responds to Name - Change Controversy: No Name Change
On June 24th, Changan Automobile stated that Chenzhi Automobile Technology Group Co., Ltd. (referred to as "Chenzhi Automobile Technology Group") is neither a renamed version of Changan Automobile nor the name of a new central - state - owned enterprise in the future. Previously, on June 23rd, Changan Automobile issued an announcement saying that it had received a notice from its controlling shareholder, China Changan Automobile Group Co., Ltd. (referred to as "China Changan"), that its name had been changed from "China Changan Automobile Group Co., Ltd." to "Chenzhi Automobile Technology Group Co., Ltd." (Beijing News)
A Minor Planet Officially Named "Faye Wong Planet"
According to a report in Wenhui Daily, from the official announcement released by the Working Group for Small Bodies Nomenclature (WGSBN) of the International Astronomical Union (IAU), on June 9, approved by the WGSBN of the IAU, the minor planet numbered 34815, discovered by Yang Guangyu, one of the most prolific asteroid hunters in the world, was officially named "Faye Wong Planet".
Faye Wong Planet was discovered by Yang Guangyu, the former president of the Hong Kong Astronomical Society, on September 20, 2001. Apart from naming asteroids after his relatives and friends, Yang Guangyu often uses the names of figures in the entertainment industry, such as Brigitte Lin, Teresa Teng, Andy Lau, Leslie Cheung, Ang Lee, etc. In addition, Yang Guangyu has also named two asteroids "Li Bai" and "Du Fu". (China Newsweek)
University Responds to Incorrect School Name on Admission Notice: All Admission Notices with Incorrect Signatures Have Been Recovered
Recently, some netizens reported that after receiving the admission notice from Nanjing Vocational Institute of Information Technology, they found that the school name on it was incorrect, and the signature read "Nanjing Vocational Institute of Information Technology" (missing the word "College"). In response, a staff member from the admissions office of Nanjing Vocational Institute of Information Technology told People's Daily Online that the situation was true. The staff member said, "Previously, some students reported this problem, and we intervened and handled it in a timely manner. The school has recovered all the admission notices with incorrect signatures. Currently, new admission notices have been sent out, and the students have also received them. This work has been completed." (Global Times)
Former South Korean President Yoon Suk-yeol's wife, Kim Keon-hee, has her master's degree revoked over alleged plagiarism
On June 24, Ewha Womans University in South Korea decided to revoke the master's degree of Kim Keon-hee, the wife of former President Yoon Suk-yeol, due to issues such as paper plagiarism.
It is understood that Kim Keon-hee obtained a master's degree from the Graduate School of Education at Ewha Womans University in 1999 with her thesis "A Study on the Painting Characteristics of Paul Klee" and a doctorate in design from Kookmin University in 2008. As the alumni association of Ewha Womans University and some professors questioned the plagiarism of Kim Keon-hee's thesis, the university established a "Research Ethics and Integrity Committee" (hereinafter referred to as the committee) in February 2022 to conduct a preliminary investigation into the relevant doubts about Kim Keon-hee, and officially started the investigation in December of the same year. However, the committee repeatedly postponed the investigation deadline and did not announce the investigation results in a timely manner, which was criticized by the outside world.
In January this year, the committee notified Kim Keon-hee and the alumni association of the preliminary determination that there was plagiarism in the relevant thesis. It is reported that Kim Keon-hee did not object to the school's determination. After examining the application for revoking Kim Keon-hee's master's degree submitted by the committee, the school made the above decision recently. (Observer.com)
Pop Mart Recruits Home Appliance Engineers at High Salaries in Multiple Locations, Suspected to Enter the Home Appliance Industry
Recently, a netizen posted that Pop Mart is entering the home appliance industry. The netizen said that Pop Mart's HR is recruiting talents related to the refrigerator field on a recruitment platform. On June 23, the media inquired on multiple recruitment platforms and learned that Pop Mart is indeed recruiting talents related to the home appliance field, including positions such as small home appliance procurement supervisor, home appliance quality expert, and R & D engineer. Public information shows that the salary for Pop Mart's recruitment of home appliance - related talents ranges from 12,000 to 45,000 yuan, and the work locations are distributed in Shenzhen, Dongguan, Shanghai, Beijing and other places. In the recruitment requirements, some positions directly indicate that relevant experience in refrigerators, coffee makers, breakfast machines, electric kettles, etc. is required and state that this project is a large - investment project of level A+ or above. (Zhengzai News)
Jensen Huang Reduces His Stake in NVIDIA and Cashes Out $14.5 Million, with an Estimated Total Reduction of $865 Million
On June 24th, Monday night Eastern Time in the United States, documents released by the U.S. Securities and Exchange Commission (SEC) showed that Jensen Huang, the CEO of NVIDIA, initiated the first round of actions to reduce his stake in NVIDIA. The documents showed that Huang sold a total of 100,000 shares of NVIDIA stock over two trading days on June 20th and 23rd Eastern Time, with a total value of nearly $14.5 million.
As early as last month, NVIDIA had disclosed this stake - reduction plan in its quarterly report. According to the plan, Huang plans to reduce his stake by a total of 6 million shares this year. Calculated based on NVIDIA's closing price of $144.17 on Monday this week, the estimated total scale of the stake reduction is $865 million. (Caixin)
Youngor: Sale of financial assets such as CITIC Limited and China CITIC Bank, with a cumulative transaction amount of 4.176 billion yuan
36Kr learned that Youngor announced that from the date of the adoption of the 2024 annual general meeting of shareholders to June 23, 2025, the company sold financial assets such as CITIC Limited, China CITIC Bank, Boqian New Materials, and Shangmei Cosmetics Group. The cumulative transaction amount was 4.176 billion yuan, accounting for 10.13% of the audited net assets at the end of 2024, which has reached the information disclosure standard.
U.S. Federal Judge Continues to Block Trump Administration's Restrictions on Harvard's International Student Visas
On June 23 local time, U.S. District Judge Allison Burroughs in Boston issued an injunction banning the Trump administration's measures to restrict Harvard University's ability to admit international students. This preliminary injunction extends a temporary order issued by the judge on June 5. (CCTV News)
China Southern Airlines Response: Flight from Guangzhou to Doha Made an Emergency Landing Due to a Security Incident
It is reported that on June 23, Flight CZ333 from Guangzhou to Doha made an emergency landing due to the missile strikes launched by Iran on a U.S. military base in Qatar and has not taken off for Doha yet. On June 24, the customer service of China Southern Airlines responded that the flight did make an emergency landing due to a flight safety incident. In addition, the flight from Guangzhou to Dubai early on June 24 was not affected. (China News Service)
Tesla's Stock Price Soars, Musk's Net Worth Increases by 106.9 Billion Yuan in One Day
Benefiting from the positive news of the launch of Tesla's Robotaxi driverless taxis, Tesla's stock price soared on Monday (June 23). As of the close, it hit a three - week high, closing at $349, up 8.23%. As the CEO of Tesla, Elon Musk currently holds approximately 410.8 million shares of Tesla, accounting for about 13% of the company's issued common stock, making him the largest individual shareholder of Tesla. Due to the sharp rise in Tesla's stock price, Musk's personal wealth has also increased accordingly. According to the real - time ranking of the Forbes Billionaires List, Musk's net worth increased by $14 billion (equivalent to approximately 106.9 billion yuan) on Monday, reaching $423.9 billion. (JRJ.com)
The three major U.S. stock indexes closed higher collectively, and most popular Chinese concept stocks rose
36Kr learned that at the close on June 24, the three major U.S. stock indexes rose collectively. The Nasdaq rose 1.43%, the Dow Jones Industrial Average rose 1.19%, and the S&P 500 Index rose 1.11%. Among them, the Dow Jones Industrial Average hit a closing high since early March, and both the S&P 500 Index and the Nasdaq hit closing highs since late February. Most large technology stocks rose. Intel rose more than 6%, NVIDIA, Netflix, and Amazon rose more than 2%, Meta rose more than 1%, and Microsoft and Google rose slightly. Tesla fell more than 2%, and Apple fell slightly. Most popular Chinese concept stocks rose. Pony.ai rose more than 16%, Pinduoduo rose more than 5%, iQiyi rose more than 4%, XPeng Motors, Alibaba, JD.com, and Bilibili rose more than 3%, and Baidu and NetEase rose more than 2%.
Wang Huixing Officially Promoted to Vice President of Tencent
On June 24th, Tencent officially issued an internal document stating that Wang Huixing has been promoted to vice president of Tencent. He is in charge of the Second Cloud Product Department, the Fourth Cloud Product Department, the Cloud Product Technical Support Department, the Cloud Technology Operation and Service Department of Tencent Cloud, as well as Tencent Cloud Security. He has dotted - line management over the First Cloud Product Department and reports directly to Tang Daosheng. (Sina Technology)
vivo Reports Media for Leaking Mobile Phone Product Information, and the Involved Party Has Now Paid Breach-of-Contract Compensation
On June 24th, vivo's legal department issued a statement saying that it had launched an internal investigation and would hold the involved party accountable in accordance with the confidentiality agreement and the law. Currently, the involved party has admitted its fault and paid breach-of-contract compensation. It is reported that on March 19th, vivo's legal department issued a statement via its official Weibo, stating that the information of one of its unreleased mobile phone products had been prematurely leaked by a third party. (36Kr, DoNews)
Federal Reserve Chairman Jerome Powell: Due to the impact of tariffs, U.S. inflation is expected to rise
Federal Reserve Chairman Jerome Powell said that due to the impact of tariffs, U.S. inflation is expected to rise. The Fed's responsibility is to keep inflation under control. Changes in interest rates will depend on the direction of the economy. The vast majority of policymakers believe that it is appropriate to cut interest rates later this year. (Caixin Press)
Hong Kong's Tai Pan Bakery Announces Closure After Reports of Wage Arrears
On June 24th, Tai Pan Bakery, a well - known bakery in Hong Kong with a 41 - year history, announced its closure. The closure notice stated that the company had been forced to cease operations due to many unforeseen and irresistible impacts in recent times. It is reported that Tai Pan Bakery was founded by Kwok Hung - kwan in 1984, and its innovative "Snow Skin Mooncakes" were once extremely popular.
The Hong Kong Hotel and Catering Employees Association said on the 23rd that it had recently received requests for help from employees of Tai Pan Bakery, who reported wage arrears. When responding to inquiries from Hong Kong media, the Labour Department also stated that it had received requests for help from affected employees and was actively providing them with appropriate assistance. If it is found that there are suspected violations of the Employment Ordinance, a criminal investigation will be carried out, and prosecutions will be initiated if there is sufficient evidence. (Nanfang Daily)
The Cutting - Edge of AI
Elon Musk's xAI Reportedly Developing Advanced File Editor for Grok, Supporting AI-Enabled Spreadsheet Processing
On June 24th, it was reported that reverse engineer Nima Owji tweeted on the X platform on June 22nd, stating that xAI, a company under Elon Musk, is developing an advanced file editor that supports spreadsheets for Grok. Tech media outlet TechCrunch believes that this move suggests xAI is taking steps to compete with tech giants like OpenAI, Google, and Microsoft by integrating AI assistance features into productivity tools. (IT Home)
Zuckerberg Spends Heavily to Recruit AI Talents from Competitors, Aims to Quickly Assemble Top Talents
Recently, technology giant Meta was reported to have spent heavily to recruit AI talents from its competitors. Disappointed with the pace of Meta's AI development, Meta's CEO Mark Zuckerberg is going all out to recruit AI talents. Currently, Meta has successfully poached Alexandr Wang, the former CEO of Scale AI, through a company acquisition, and spent a large amount of money to bring in top researchers from Google DeepMind and AI voice startup Sesame AI to join the team. (The Paper)
Investment and Financing
“Yikong Zhijia” Completes Over 400 Million Yuan Series D Financing, Led by Puquan Capital and CATL
36Kr learned that “Yikong Zhijia” announced the completion of over 400 million yuan in Series D financing. This round of financing was led by CATL through its sole industrial investment platform, Puquan Capital (CATL Captial), and its own funds. Strategic industrial partners and investment institutions such as Fangguang Capital, Xingqi Fund under Falcon Investment, Zhongji Holdings, Tongli Co., Ltd., and Huace Navigation jointly participated in the investment. The funds will be mainly used for the R & D of unmanned driving products, market expansion, and the international layout in overseas markets such as Australia. It is reported that as of now, “Yikong Zhijia” has deployed approximately 1,500 unmanned mining truck fleets, with a domestic market share of nearly 50%.
Semiconductor domestic testing equipment provider "Liwan Electronics" completed tens of millions of yuan in Series A+ financing
36Kr learned that recently, Jiangsu Liwan Electronic Technology Co., Ltd. announced that it has completed tens of millions of yuan in Series A+ financing, invested by Jiangyin Xiake Emerging Industry Development Fund (Limited Partnership). This financing is mainly used for the R & D of components of wafer electrical testing equipment and the implementation and upgrading of technology and production lines.
Michun Biotechnology (Shanghai) Co., Ltd. Completes Series A Financing of RMB 20 Million
36Kr learned that recently, Michun Biotechnology (Shanghai) Co., Ltd. (hereinafter referred to as "Michun Biotechnology"), an enterprise in the domestic maternal and infant nutrition technology field, announced today that it has successfully completed a Series A financing of RMB 20 million. The funds raised will be mainly used to deepen the R & D of core products, expand market channels, and accelerate its listing process on the NASDAQ.
Huayang Runtai Technology Secures 6 Million Yuan in Angel Round Financing
36Kr learned that recently, Huayang Runtai (Beijing) International Technology and Trade Co., Ltd. announced the completion of a 6 million yuan angel round of financing. It is understood that the company is an innovative R & D intelligent supply chain platform. Through three core systems of electronic bills of lading, cargo tracing, and digital warehouse receipt confirmation, it realizes the full - chain digital closed - loop of cross - border trade along the "Belt and Road", eliminates the risk of fake orders, and improves the settlement efficiency by 90%. The platform is also planning an intelligent three - dimensional warehouse and an unmanned distribution system, providing omni - channel information support and seamless asset connection services for upstream and downstream customers, and helping to reduce the cost of international trade by 40%.
How to Seize New Opportunities When Expanding into the Middle East?
The Middle East, with its diverse cultures and booming consumer market, has attracted the attention of more and more international brands. In this volatile and diverse market, what new opportunities are there? How to adapt to the local market? What logistics and supply chain challenges need to be faced?
At 7 p.m. on June 25th, 36Kr's "CEO Insights" Overseas Expansion Season invites Lingxiu, a partner at Roselake Ventures, and Shi Xuandong, the Saudi country manager of iMile, to discuss the most crucial issues for brands expanding into the Middle East. Come and make an appointment now!
Compiled by | Yuan Si