8:01 Kr｜Cat King Audio Founder Responds to Criticizing Xiaomi’s Lei Jun for Disrespectful Behavior; Mizone’s 3D Outdoor Billboard Criticized for Occupying Public Space; Multiple Airports Explicitly Ban Recalled Batches of Power Banks

Going Public in Progress

Hanyu Pharmaceutical (Wuhan) Co., Ltd.

36Kr learned that Hanyu Pharmaceutical announced that its wholly-owned subsidiary, Hanyu Pharmaceutical (Wuhan) Co., Ltd., received the "Approval Notice for the Listing Application of Chemical APIs" issued by the National Medical Products Administration, approving the domestic listing and sales of Degarelix Acetate API. Degarelix is a gonadotropin-releasing hormone (GnRH) receptor antagonist that reversibly binds to the pituitary GnRH receptor, thereby reducing the release of gonadotropins and testosterone and can be used to treat patients with advanced prostate cancer.

BlueFocus

36Kr learned that Beijing BlueFocus Data Technology Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are Huatai International, Guotai Junan International, and China Renaissance.

Coosai Intelligent Technology Co., Ltd.

36Kr learned that Coosai Intelligent Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, and CITIC Securities is the exclusive sponsor.

Top 3 Big News

Elvis Presley Audio Founder Responds to Criticizing Lei Jun: A Bit Misled, No Grudge Against Xiaomi and Lei Jun

It is reported that Zeng Dejun, the founder of Elvis Presley Audio, responded to the video he posted on June 24, in which he said that Lei Jun's "online image is lofty but his private behavior is poor." Zeng Dejun said, "I have no grudge against Xiaomi or Lei Jun personally, and I have no other intentions." He also said that the public opinion and comments were a bit misled, and he hoped that the media would not take his words out of context and over - interpret the video.

On the evening of June 23, Zeng Dejun publicly posted a video to evaluate Lei Jun, the CEO of Xiaomi. He mentioned that there was a big contrast in Lei Jun's image and that Lei Jun lacked respect. He also mentioned an old incident more than a decade ago. He said that as one of the earliest pioneers in the smart speaker field in China, he took his project to negotiate with Shunwei Capital under Lei Jun, but was met with Lei Jun's words, "What's the use of smart speakers? Let's not waste time on it." Then Lei Jun got up and left without even looking at him. (Sina Technology)

Pulse's 3D Outdoor Ads Criticized for Occupying Public Space, Danone Responds: Feedback Received

Recently, the 3D outdoor ads of Pulse, a beverage brand under Danone, which were placed at bus stops in many parts of the country, have sparked controversy. The ads are presented in the shape of giant Pulse beverage bottles, with the bottle height exceeding 1.5 meters and the protruding part exceeding 30 centimeters. Due to occupying public space, affecting citizens' rest and posing safety hazards, on June 22, netizens in many places such as Guangdong, Beijing, Zhejiang and Shandong successively posted complaints on social platforms. In response, Danone's official customer service said that they have received relevant feedback, will report the matter to the company and actively handle it. (Jiemian News)

Multiple airports explicitly prohibit carrying power banks of Romoss and Anker's recalled models and batches

Recently, many netizens reported that "they were stopped during airport security checks when carrying Romoss or Anker power banks." On June 24, reporters contacted airports in Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Chengdu, Changsha and other places. Among them, multiple airports explicitly prohibit carrying power banks of Romoss and Anker's recalled models and batches. Some airports, although not banning power banks of the involved brands, said that "it is not recommended for passengers to carry them." Some other airports said that "passengers need to obtain a release note from the airline they are taking."

Previously, some media queried the National Certification and Accreditation Information Public Service Platform of the State Administration for Market Regulation and found that a large number of 3C certifications for fast - charging mobile power supplies of Romoss Technology - related companies were revoked, and the remaining 3C certifications were related to chargers and sockets. (Southern Metropolis Daily, Sina Technology)

Large Companies/ Major Events

Official Response: Retirement Pensions Are Exempt from Individual Income Tax, and Personal Pensions Are Taxed at the Minimum Rate of 3% When Withdrawn

On June 24th, the 12366 Tax Payment Service Hotline of the Beijing Tax Bureau responded to taxpayers' inquiries, stating that the basic pensions (commonly referred to as retirement pensions) received monthly after retirement are exempt from individual income tax. Different from basic pensions, personal pensions are supplementary endowment insurances supported by government policies, voluntarily participated by individuals, and operated in a market - oriented manner. The annual contribution limit is 12,000 yuan, and tax incentives can be enjoyed as stipulated: when making contributions, the amount can be deducted from income such as wages and is exempt from individual income tax; when withdrawing, it is only taxed at the minimum rate of 3%. (Securities Times)

Microsoft Plans Major Layoffs in Xbox Gaming Division

On June 25th, it was reported that Microsoft plans to conduct a new round of large - scale layoffs in its Xbox division next week as part of the company's overall restructuring. Sources familiar with the matter, who requested anonymity to discuss non - public information, revealed that managers in the Xbox division expect the entire department to face significant job cuts. The company declined to comment. This will be the fourth major round of layoffs at Xbox in the past 18 months. The division has already carried out three major rounds of layoffs last year and shut down several subsidiaries. (Sina Finance)

Robot rental cools down, daily rent of 40,000 yuan is halved, and robot 4S stores may emerge

As an important link between terminal manufacturers and ordinary consumers, robot rental companies are always the first to feel the changes in the market. When humanoid robots went on sale during the 618 shopping festival, bosses in the rental market felt the chill of the market. After reaching a peak during the May Day holiday, the market heat began to decline sharply. At its peak, "Brother Yu's Robots" could be rented out at a high price of 40,000 yuan a day, but since mid - May, the price has dropped to 10,000 yuan.

"Currently, robot rental is more for generating traffic, and this is also a transitional form before the explosion of the humanoid robot industry," Xue Qingheng, the general manager of the robot division of City - to - City (Beijing) Technology Co., Ltd. (hereinafter referred to as "City - to - City"), told a reporter from Shell Finance. City - to - City defines itself as a technology - based enterprise focusing on robot application scenarios and intelligent solutions. Secondary development and robot rental are both core businesses of this company. Xue Qingheng also agrees that the future robot rental market will compete in service capabilities. However, the difference is that City - to - City also wants to build itself into a "robot 4S store" to manage robots throughout their life cycles. (Shell Finance)

LABUBU Sold for 510,000 Yuan, Its Price Halved 12 Days Later

In June this year, the auction market for LABUBU trendy collectibles was extremely hot. Zhao Xu, the founder of Yongle Auction, said that LABUBU has become the hottest trendy art piece globally. However, during the auction process, LABUBU was criticized for "excessive over - pricing", and its price fluctuated sharply. Collectors questioned the excessive over - pricing in the auction. For example, the "LABUBU See No Evil, Hear No Evil, Speak No Evil" was hammered down at 510,000 yuan on June 10th, but on the evening of June 22nd, the price of the same lot was directly "halved", being hammered down at 205,000 yuan. Just 12 days apart, the hammer price of the same lot was halved. (Daily Economic News)

Illustration

Three weeks after a fire broke out, the ship Morning Midas, carrying 3,000 cars, sank in the Pacific Ocean

On June 3, a fire broke out on the car carrier "Morning Midas" in waters about 300 miles (about 483 kilometers) off the coast of Alaska, USA. The ship was carrying more than 3,000 cars, some of which were electric and hybrid vehicles. Due to the fierce fire, 22 crew members were forced to abandon the ship. They safely evacuated in lifeboats and were rescued by the passing merchant ship "COSCO Greece".

On June 23, according to the latest news from salvage operator Resolve Marine, the Morning Midas finally succumbed after nearly three weeks since the fire broke out and sank in international waters in the North Pacific. Specifically, the transport ship sank at around 16:35 local time on June 23 in waters about 5,000 meters deep. Bad weather and the gradual seepage of seawater into the hull exacerbated the damage caused by the initial fire, ultimately leading to the ship's sinking. (Red Star News)

Tesla's Robotaxi Under Federal Investigation for Alleged Traffic Law Violations During Its Debut

Tesla's self - driving taxis (robotaxis) are currently under federal investigation for alleged traffic law violations during their debut in Austin. The National Highway Traffic Safety Administration (NHTSA) in the United States has launched an investigation into incidents such as speeding and illegal lane changes. The NHTSA has contacted Tesla regarding multiple online video incidents. These videos show that Tesla's robotaxis are suspected of violating traffic laws during their operation in South Austin. Currently, Tesla is providing self - driving transportation services to invited customers in this area. (Sina Finance)

Jinjiang and Wajijiwa are involved in a copyright dispute. Wajijiwa responds that the film and television scope in the original contract includes web dramas

On June 24th, Wajijiwa officially announced that the mini-drama "Secretly in Love with You" would be aired at 10 a.m. on June 26th. On the evening of the 24th, Jinjiang Literature City issued a statement saying that Wajijiwa's unauthorized filming of the mini-drama "Secretly in Love with You" was suspected of violating the contract. Subsequently, Wajijiwa responded that the "web dramas" defined in the contract included "serial dramas publicly broadcast via the Internet", and mini-dramas of any length or type should fall within the scope of authorization.

At 2 p.m. on June 24th, Jinjiang issued another response statement, saying that "according to the main film and television contract signed in 2019, the type of online mini-dramas was not included in the scope of authorization. The main contract expired on August 24th, 2024. According to the information provided by Wajijiwa to Jinjiang on June 24th, 2025, neither Jinjiang nor the author was informed of the filming information of the online mini-drama at the start and completion of shooting. Moreover, the drama was declared and approved as an 'online mini-drama' rather than a web drama." (Xiaoxiang Morning News)

Intel Responds to "Shutting Down Automotive Business": Refocusing Strategic Priorities

According to foreign media reports, Intel will shut down its small automotive business and lay off most of its employees in this field, which is the latest move in its major layoff plan. It is reported that currently, 50 million vehicles are using Intel processors. At present, Intel has confirmed the adjustment and responded, "As previously announced, we are refocusing our strategic priorities and strengthening our core client and data center product portfolios and businesses to meet the needs of our customers. As part of this plan, we have decided to gradually scale back the automotive business under our Client Computing Group." (Sina Finance)

Spain Eases Visa Rules to Attract Foreign Students Banned from the US by Trump

On June 24 local time, Spain said it had approved a fast - track entry channel for foreign students banned from studying in the US by the Trump administration. The Spanish Ministry of Immigration said in a statement that students who were unable to complete their studies in the US due to visa suspensions would be able to transfer to study in Spain. The ministry also said that these visas would also allow students to work part - time. While Trump has tried to restrict immigration to the US, Spanish Prime Minister Sanchez has actively encouraged immigration and promoted the economic benefits it brings. (Sina Finance)

DJI drones are in serious short supply in the United States, and the official response says it remains committed to the US market

On June 25th, according to the technology website The Verge, DJI drones are currently in a serious short - supply situation in the United States, even triggering speculation that DJI will exit the US drone market. On June 24th, it was reported that in the local Best Buy physical store, the entire DJI drone sales area was completely cleared, and it was also difficult to buy DJI's new products on the website. DJI spokesperson Daisy Kong responded to this, saying, "DJI remains committed to the US market. As we have previously shared, DJI has been working with the US Customs and Border Protection (CBP) to resolve a misunderstanding related to customs issues. Unfortunately, this has affected the stockpiling and import of our drones and parts. We understand our customers' disappointment but still hope that this issue can be resolved." (IT Home)

Surpassing Muyuan and Pop Mart, the brothers of Mixue Bingcheng have been promoted to the new richest people in Henan with a fortune of 117.94 billion yuan

On June 25th, the 2025 New Fortune 500 Wealth Creation List showed that among the 500 entrepreneurs (or families) on the list this year, Zhang Hongchao and Zhang Hongfu, the founders of Mixue Bingcheng, with a net worth of 117.94 billion yuan, outperformed Qin Yinglin and his wife of Muyuan Foods Co., Ltd. and became the new richest people in Henan.

This change marks another reshuffle of the Henan rich list. At the beginning of June, Wang Ning, the founder of Pop Mart, briefly topped the Forbes Real - Time Billionaires List with a net worth of 146.7 billion yuan due to the popularity of the IP Labubu under his company. However, in the latest wealth creation list, Wang Ning's net worth is 53.64 billion yuan, only about 45% of that of the Zhang brothers. (Observer.com)

He Xiaopeng Dines with CEO of Volkswagen China, Hints at Good News to Be Announced with Volkswagen

Bernd Stephan, Chairman and CEO of Volkswagen Group (China), posted a picture of himself dining with He Xiaopeng, Chairman of XPeng Motors, on Weibo, saying, "When old friends get together, there's always so much to talk about! And one more thing, Cantonese cuisine is so delicious."

Subsequently, He Xiaopeng reposted the Weibo post and interacted, saying, "Apart from good food, there's also good wine, and there's good news too." (Sina Tech)

Neta Auto May Need to Repay Subsidies from the Thai Government

According to a report by the Bangkok Post this week, as revealed by Paopoom Rojanasakul, the deputy finance minister of Thailand, car manufacturers participating in the Thai government's electric vehicle subsidy program need to repay the subsidies if they fail to comply with the subsidy conditions. The media reported that if Neta Auto Thailand fails to meet the production target, it may need to repay more than 2 billion Thai baht (approximately 439 million yuan at the current exchange rate) to the Thai government.

It is reported that the subsidies provided by the Thai government are conditional on car manufacturers establishing electric vehicle production plants in the country, with the ultimate goal of domestic substitution for imports. If a company fails to meet this requirement, it must refund the subsidy funds. In addition, to meet the requirements, car manufacturers need to produce vehicles in Thailand. By 2026, for every imported vehicle, they must produce 1.5 locally - made electric vehicles. The report also mentioned that according to Thailand's electric vehicle production requirements, Neta Auto Thailand needs to produce 19,000 electric vehicles in Thailand this year, but only 4,000 have been produced so far. (IT Home)

Zhongnan University of Economics and Law Issues Statement on the Incident of a Man Dressing as a Woman to Take an Exam on Behalf of Another: Li Mouyang, Who Commissioned Someone to Take the Exam, Is Proposed to Be Expelled; the Imposter Fled After the Incident, and Their Identity Is Being Verified

On June 24th, some netizens posted on social media platforms that a man dressed as a woman took an exam on behalf of another at Zhongnan University of Economics and Law in Wuhan, Hubei Province, which sparked a heated discussion among netizens. On the evening of June 26th, the official website of Zhongnan University of Economics and Law issued a statement: During the "Advanced Accounting" exam held from 08:00 to 10:00 on June 24th, 2025, in Classroom 306 of Wentai Building, Li Mouyang (2021*****102), a student from the School of Accounting, engaged in disciplinary violations and cheating by commissioning someone to take the exam on his behalf.

In accordance with Article 9, Paragraph 2 of the "Measures for Handling Disciplinary Violations and Cheating in Examinations of Full - time Students at Zhongnan University of Economics and Law (Revised)", it is proposed to expel Li Mouyang from school. The imposter, whom Li Mouyang met through an online platform, fled the scene after the incident, and their identity is under investigation and verification. (Red Star News)

The three major U.S. stock indexes closed mixed, and NVIDIA became the world's most valuable company again

36Kr learned that at the close on June 25, the three major U.S. stock indexes showed mixed performance. The Nasdaq rose 0.31%, the S&P 500 index closed flat, and the Dow Jones Industrial Average fell 0.25%. Large technology stocks also had mixed performances. NVIDIA rose more than 4%, hitting a new record high in its stock price. With a total market value of $3.77 trillion, it became the world's most valuable company again. Google rose more than 2%, while Microsoft and Apple had slight increases. Tesla fell more than 3%, Intel dropped more than 1%, and Netflix, Amazon, and Meta had slight declines. Most popular Chinese concept stocks fell. XPeng Motors dropped more than 3%, Alibaba declined more than 2%, Li Auto and iQiyi fell more than 1%, and NIO, Pinduoduo, and Baidu had slight drops. JD.com rose more than 1%, and Bilibili had a slight increase.

China Eastern Airlines Leads the Way: Special Handling for Routes Affected by the Middle East Situation

Affected by the recent security situation in the Middle East, China Eastern Airlines issued a notice on June 25th, stating that special handling will be provided for tickets on routes related to Dubai, Abu Dhabi, Riyadh, Cairo, and Istanbul.

Passengers who purchased international, regional, or domestic flights on China Eastern Airlines ticket 781 before June 24th, 2025 (inclusive), with at least one unused flight segment involving inbound, outbound, or stop - over flights in Dubai, Abu Dhabi, Riyadh, Cairo, or Istanbul (including flights operated by China Eastern Airlines, Shanghai Airlines, or other airlines), and whose travel dates are between June 24th and June 30th, 2025, can handle ticket refund and change procedures according to the rules within the ticket validity period. (Yicai Global)

The Cutting - Edge of AI

Tesla AI Engineer Rejects Lucrative Offer from Meta: "No Amount of Money Can Make Me Leave Elon"

The launch of Tesla's robotaxi highlights the company's artificial intelligence technology and excellent engineering team. Tesla's competitors are also contacting these employees in an attempt to poach them. Tesla senior engineer Yun-Ta Tsai recently shared on social media the details of Meta's attempt to recruit him. Previously, there were reports that Meta was actively seeking top artificial intelligence talents. Tsai wrote in his post, "Sorry, we're busy launching the Robotaxi and our dedication to sustainable abundance." "No amount of money can make me leave Elon. This is a once-in-a-lifetime (possibly the only in history) opportunity. I like working in a challenging environment. Making money without a goal would drive me crazy." (Sina Finance)

Financial Reports of Big Companies

Nissan Motor: Expected Loss of 200 Billion Yen in the Second Quarter

Nissan Motor Co., Ltd. said on June 24 that it expects an operating loss of 200 billion yen (approximately 9.9 billion yuan) in the second quarter (April to June) of 2025 in its consolidated financial statements. The company had a profit of 900 million yen in the same period last year. In May this year, Nissan announced large-scale rationalization measures centered around laying off 20,000 employees globally and closing seven factories. (Jiemian News)

BlackBerry Reports $121.7 Million in Revenue for Q1

BlackBerry released its financial report for the first quarter of fiscal year 2026 on June 24 (local time). The report shows that the revenue for the first quarter was $121.7 million. It is estimated that the revenue for the second quarter will range from $115 million to $125 million. The adjusted basic earnings per share for the first quarter were $0. It is predicted that the adjusted basic earnings per share for the second quarter will be between $0 and $0.01. The company still forecasts that the adjusted basic earnings per share for the whole year will be between $0.08 and $0.1. (Jiemian News)

FedEx's adjusted operating profit in the fourth fiscal quarter was $2.02 billion

On June 24 local time, FedEx released its financial report for the fourth fiscal quarter, showing an adjusted operating profit of $2.02 billion. It is expected that the adjusted EPS in the first fiscal quarter will be between $3.4 and $4. (Jiemian News)

Cool Products

Xiaomi Enters the "Hundred-Glasses Battle", Officially Announces Upcoming Release of Xiaomi AI Glasses

Xiaomi's official Weibo announced on June 25th that the brand-new Xiaomi AI glasses will make their official debut at the full ecosystem launch event for vehicles, homes, and people at 7 a.m. on June 26th. The official poster describes it as a "personal smart device for the next generation."

According to the Aiqicha App, Xiaomi Technology Co., Ltd. has applied to register multiple "Vehicles, Homes, and People" trademarks. The international classifications cover scientific instruments, means of transport, furniture, etc. Currently, some of the trademarks have been successfully registered. In addition, the company has applied for patents related to smart glasses, such as "Smart glasses and their control methods and devices" and "Display methods and devices for viewfinder information, and smart glasses." (Sina Technology)

Investment and Financing

"Beijing Guanyue Meitai" Completes 50 Million Yuan Series A Financing

36Kr learned that on June 25th, "Beijing Guanyue Meitai" announced the completion of a 50 million yuan Series A financing round. This round was led by a well - known investment institution, and the funds will be used to accelerate the construction of its synthetic biology technology platform and the development of the product pipeline for bio - based materials.

Wuxi Chaoxin Power Technology Co., Ltd. Completes 22 Million Yuan Angel Round Financing

36Kr learned that on June 25th, Wuxi Chaoxin Power Technology Co., Ltd. announced the successful completion of a 22 million yuan angel round financing. This round of financing was led by well - known institutions, and the funds will be mainly invested in the R & D iteration, tape - out testing, and market expansion of high - performance NFC chips.

Jiangsu Haobang Marine Technology Co., Ltd. Completes 10 Million RMB Angel Round Financing

36Kr learned that recently, Jiangsu Haobang Marine Technology Co., Ltd. completed an angel round financing of 10 million RMB. The funds will be mainly used to strengthen the construction of its deep - sea survey data platform, conduct research and development of marine engineering technology, and explore the technological integration in the low - altitude economy field, so as to accelerate the construction of a comprehensive technology service system featuring the linkage of "air - sea - industry". It is understood that the company's business covers multiple fields such as deep - sea data collection, deep - sea survey technology, research on marine economic engineering technology, and marine industry design.

"Zhi Mei Technology" Completes Tens of Millions of Yuan in Series A Financing

36Kr learned that on June 25th, "Zhi Mei Technology" announced the completion of tens of millions of yuan in Series A financing. The investor in this round is Asia Business Capital. The financing funds will be used for the company's technological upgrading, the continued development and improvement of skin AI functions, brand promotion, and overseas market layout. Previously, Zhi Mei Technology completed a ten-million-yuan angel round of financing invested by Zijin Port Capital, as well as a tens-of-millions-yuan Pre-A round of financing invested by Mr. Hu Guanghui, Yuanqi Capital, and Jinsheng Fund.

Compiled | Yuan Si