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Yikong Zhijia Aims for Hong Kong IPO with 2024 Revenue of 986 Million Yuan

Recently, Yikong Zhijia Technology Co., Ltd., an enterprise in the mining area unmanned driving track, officially submitted a listing application to the Hong Kong Stock Exchange, planning to go public in Hong Kong. According to the prospectus data, Yikong Zhijia's total revenue in 2024 was 986 million yuan, a year-on-year increase of 264% compared with 2023. In addition, the company's gross profit officially turned positive in 2024. As of the release of the prospectus, the company has a fleet consisting of over 1,400 operating unmanned mining trucks. In addition, recently Yikong Zhijia announced the completion of a Series D financing of over 400 million yuan. So far, its investors include Puquan Capital, an industrial investment platform under CATL, Tongli Co., Ltd., Huace Navigation, Zijin Mining, etc. In the overseas market, Yikong Zhijia has reached cooperation with international mining engineering companies such as MACA, an Australian mining engineering service provider. In 2024, the company cooperated with Norton Gold Fields to launch a local product trial project in Kalgoorlie, Australia. (Shanghai Securities News)

Ministry of Commerce: In the First Five Months of This Year, China's Non-financial Outward Direct Investment Reached 61.6 Billion US Dollars

Today (26th), the Ministry of Commerce held a regular press conference. The spokesperson introduced the situation of China's outward investment cooperation in the first five months of this year. Data shows that in the first five months of this year, China's non-financial outward direct investment reached 61.6 billion US dollars, a year-on-year increase of 2.3%. In countries participating in the Belt and Road Initiative, non-financial direct investment was 15.52 billion US dollars, an increase of 20.8%. At the same time, from January to May, China's overseas contracted projects completed a turnover of 61.94 billion US dollars, an increase of 5.4%, and the newly signed contract value was 98.68 billion US dollars, an increase of 13%. Among them, Chinese enterprises completed a turnover of 50.59 billion US dollars in contracted projects in countries participating in the Belt and Road Initiative, an increase of 3.9%. The newly signed contract value was 84.93 billion US dollars, an increase of 20.7%. (CCTV News)

Sun Xiaohong of China Chamber of Commerce for Import and Export of Machinery and Electronic Products: China's Automobile Exports Are Expected to Reach 7 Million Units This Year

According to China Securities Taurus, on June 25th, at the 2025 Global New Energy Vehicle Cooperation and Development (Shanghai) Forum, Sun Xiaohong, the secretary-general of the Automobile Internationalization Professional Committee of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said that customs data shows that China's automobile exports reached 6.4 million units last year. Based on a predicted growth rate of 10%, China's automobile export volume is expected to reach 7 million units this year. If the automobile export volume maintains a growth rate of over 10%, by 2030, China's automobile export volume is expected to reach 10 million units. (Jiemian News)

XPeng Motors: Overseas Markets Are Tightening the Import of Zero-kilometer Used Cars, and XPeng Does Not Adopt This Export Model

Tang Zhikun, the general manager of XPeng Motors' International Business Center, said that a large number of domestic automobiles are exported through the "zero-kilometer used car" model, with destinations including the Middle East, North Africa, and Central Asia. The volume is "attractive" and can indeed contribute a large number of sales. However, XPeng is restrained in this regard and does not adopt this export model to increase short-term sales. He revealed that this year, in fact, many overseas market governments are tightening this loophole, gradually banning the import of zero-kilometer used cars through regulations, certifications, etc. (The Paper)

XPeng Motors: The Right-hand Drive Version of the X9 Will Be Locally Produced in Jakarta in July

On June 26th, XPeng Motors announced that the XPeng X9 was officially launched in Indonesia, with a starting price of 990 million Indonesian rupiah. In addition, the right-hand drive version of the XPeng X9 will be locally produced in Jakarta in July this year, marking the official launch of XPeng Motors' first overseas local production project in Indonesia. (Jiemian News)

Neta Auto May Need to Repay Thai Government Subsidies

According to a report in the Bangkok Post this week, according to Paopoom Rojanasakul, the deputy finance minister of Thailand, car companies participating in the Thai government's electric vehicle subsidy program need to repay the subsidies if they fail to meet the subsidy conditions. The media said that if Neta Auto Thailand fails to meet the production target, it may need to repay more than 2 billion Thai baht (note: the current exchange rate is approximately equivalent to 439 million yuan) 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 companies need to produce vehicles in Thailand. By 2026, for every imported vehicle, 1.5 locally manufactured electric vehicles must be produced. 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 so far only 4,000 have been produced. (IT Home)

BYD Reaches Cooperation with European Steel Manufacturer voestalpine Group

On June 24th local time, BYD and the European steel manufacturer voestalpine Group signed a cooperation agreement in Vienna, Austria. voestalpine will supply steel for BYD's passenger car factory in Hungary. (Jiemian News)

In the First Five Months of This Year, Shanghai's Foreign Trade Exports Reached 787.38 Billion Yuan, a Year-on-Year Increase of 11.5%

According to Shanghai Customs statistics, in the first five months of this year, Shanghai's foreign trade imports and exports totaled 1.8 trillion yuan, a year-on-year increase of 1.8%. Among them, exports reached 787.38 billion yuan, a year-on-year increase of 11.5%. As the "new engine" of Shanghai's foreign trade development, in the first five months, private enterprises' imports and exports totaled 671.7 billion yuan, a year-on-year increase of 22.2%, 20.4 percentage points higher than the overall growth rate, accounting for 37.7% of the total imports and exports during the same period and driving the city's foreign trade growth by 7 percentage points. In May, private enterprises' imports and exports reached 147.71 billion yuan, a record high for a single month, a year-on-year increase of 27.3%, and were the main contributor to the increase in Shanghai's imports and exports. (Jiemian News)

CICC: Overall Optimistic about the Investment Directions of AI and Going Global

A research report from CICC said that some online pan-entertainment platforms have well balanced the relationship between long-term investment and short-term healthy finances. We are overall optimistic about the investment directions of AI and going global. Moderate investment + healthy profits is the most ideal situation. If the revenue growth rate of the new direction is fast enough, it is acceptable for profits to be slightly affected. We believe that instant retail is a clear incremental area in the industry, but we doubt the sustainability of the market share seized through subsidies. Using high-frequency business to compete with low-frequency business may only be the market's wish. (Jiemian News)

NVIDIA CEO Jensen Huang: Robotics Is the Chip Manufacturer's Biggest Opportunity after AI

NVIDIA CEO Jensen Huang said that in addition to artificial intelligence, robotics is the market with the greatest growth potential for this chip manufacturer, and autonomous vehicles will become the first major commercial application area for this technology. On Wednesday, when answering a question from an attendee at NVIDIA's annual general meeting, Huang said: "Our company has many growth opportunities, and AI and robotics are the two biggest ones, representing trillions of dollars in growth opportunities." (Sina Finance)

Wang Xingxing: Unitree Technology's Annual Revenue Has Exceeded 1 Billion Yuan

Wang Xingxing, the founder of Unitree Technology, said at the Summer Davos Forum that Unitree Technology's annual revenue has exceeded 1 billion