8:00 am, Yi Krypton News | The starting price of Xiaomi YU7 is 253,500 yuan, and over 200,000 units were pre - ordered within 3 minutes; NATO Secretary - General's comparison of Trump to a "father" sparks controversy; Bentley responds to the controversy over the "co - branded betel nut gift box".
Reconova Technology
Xiamen Reconova Information Technology Co., Ltd. (Reconova) is reported to plan an IPO in Hong Kong. (Sina Finance)
VISMA
It is reported that the technology company VISMA has chosen to conduct its IPO in London rather than Amsterdam. (Sina Finance)
Hehe Information
36Kr learned that according to documents from the Hong Kong Stock Exchange, Shanghai Hehe Information Technology Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation as the sole sponsor.
Xiaomi YU7 Officially Launched, Starting at $253,500, Over 200,000 Units Reserved in 3 Minutes
At the Xiaomi Smart Mobility & Home Ecosystem Launch Event on June 26th, Lei Jun, the founder, chairman, and CEO of Xiaomi Group, delivered a speech. At the event, the Xiaomi YU7 was officially launched, offering four major color series and nine colors. In terms of price, the standard version of the Xiaomi YU7 is priced at $253,500. Lei Jun said that he only took 5 minutes last night to decide to make it $10,000 cheaper than the Tesla Model Y. The Xiaomi YU7 Pro is priced at $279,900, and the Xiaomi YU7 Max is priced at $329,900.
On the evening of the 26th, Xiaomi's official Weibo account announced that over 200,000 units of the YU7 were reserved in 3 minutes, and over 289,000 units were reserved in 1 hour. For comparison, on March 28th last year, the first electric vehicle, the Xiaomi SU7, received 88,898 large reservations within 24 hours of its launch. (Jiemian News, 21st Century Business Herald)
NATO Secretary-General's Metaphor Comparing Trump to "Dad" Sparks Wide Controversy, Summit Accused of Catering to Trump in All Aspects
On June 26th, in recent days, the Western public opinion has described the attitude of NATO Secretary-General Mark Rutte towards US President Trump during the NATO summit held in The Hague, the Netherlands, as "sycophantic". Rutte himself clarified that he didn't call Trump "dad", but just made a metaphor. However, the White House still used the "dad" meme to tease when Trump returned.
It is reported that when Trump and Rutte jointly attended a press conference on the 25th, when Trump was asked about his "vulgar outburst" scolding Israel and Iran for violating the ceasefire agreement, he replied, "They're fighting like two kids on the school playground. They're going at it so hard that you can't stop them. Let them fight for two or three minutes, and then it'll be easier to stop them." Rutte then said, "Sometimes 'dad' has to say something tough to stop (them)." Trump then said, "You have to say something tough. Everyone can see that you have to use 'certain words'." Subsequently, a British journalist asked Trump at another press conference, "NATO Secretary-General Rutte just called you 'dad'. Do you consider NATO allies as children?" "No, he likes me. I think he likes me. If he didn't like me, I'd let you know. I'd come back and give him a good scolding," Trump said. "He really did say it. He said it with affection, 'Dad, you're my dad'." (Xinhua News Agency)
Bentley Responds to Co - branding with Betel Nut Brand: No Authorization or Approval in Any Form
On June 26th, it is reported that recently, a press conference held under the Canton Tower arranged the British ultra - luxury brand Bentley and a betel nut brand on the same exhibition stand, which has sparked heated discussions.
In response to the above situation, Bentley stated that the co - branded products and related activities have no connection with the Bentley brand and its authorized dealers in China, and have not obtained any form of authorization or approval from the Bentley brand.
Recently, since May 20th, the official Weibo account of the above - mentioned food brand "Hecheng Tianxia Betel Nuts" has posted multiple updates about the co - branded gift boxes of the brand and Bentley. The promotional copy includes statements such as "Highly favored by Bentley owners! The top choice for high - end social gatherings, business gifts, and visiting relatives and friends!" (Jiemian News, China Business Journal)
Latest Changes in the List of Alibaba Partners: Nine People, Including Daniel Zhang, Daisan, and Yu Yongfu, Have Exited
On June 26th, Alibaba's annual report for the fiscal year 2025 routinely disclosed the latest information about its partners. Among them, nine people - Daisan, Fang Yongxin, Peng Lei, Song Jie, Sun Lijun, Maggie Wu, Yu Yongfu, Daniel Zhang, and Zhu Shunyan - have exited the list of partners. Jiemian News learned that the list of Alibaba partners is slightly adjusted every year. Partners will automatically exit when there are changes in their work positions or ages.
The latest list of Alibaba partners for the fiscal year 2025 includes a total of 17 people: Fan Luyuan, Jiang Fan, Jiang Fang, Jiang Jiangwei, Liu Zhenfei, Jack Ma, Shao Xiaofeng, Tong Wenhong, Joe Tsai, Wan Lin, Wang Lei, Wen Jia, Wu Yongming, Wu Zeming, Yu Siying, Zhang Jianfeng, and Zheng Junfang. (Jiemian News)
Wang Xingxing: Unitree's annual revenue has exceeded 1 billion yuan
Recently, Wang Xingxing, the founder of Unitree, revealed at the Tianjin Summer Davos Forum that Unitree has grown from a startup with just one employee in early 2016 to a company with over 1,000 employees, and its annual revenue has exceeded 1 billion yuan. Recently, Unitree officially completed the closing of its Series C financing. The market estimates that the pre - investment valuation of this round exceeded 10 billion yuan, propelling the company into the "unicorn" camp in the industry. This round of financing was co - led by six giants: the fund under China Mobile, Tencent, Jinqiu Fund, Alibaba, Ant Group, and Geely Capital, with over 90% of the old shareholders participating in the follow - on investment. (Securities Times)
Civil Aviation Administration: Passengers are prohibited from carrying power banks without 3C certification or recalled power banks on domestic flights
Recently, to effectively ensure aviation operation safety, the Civil Aviation Administration issued an urgent notice, stating that starting from June 28, passengers are prohibited from carrying power banks without a 3C certification mark, with unclear 3C certification marks, or of recalled models or batches on domestic flights.
Since June 16, well - known power bank brands Romoss and Anker Innovations have successively issued announcements, recalling over 490,000 and over 710,000 power banks with potential safety hazards in China respectively. Data shows that China is the world's largest producer and consumer of power banks, with a market size of $1.046 billion in 2024, accounting for over 30% of the global market. (China Civil Aviation News)
The NBA Draft was held, and Chinese player Yang Hansen became the ninth Chinese player selected in NBA history
On the morning of June 26th Beijing time, the 2025 NBA Draft was held in New York. Chinese player Yang Hansen was selected by the Portland Trail Blazers with the 16th pick in the first round on his birthday, becoming the ninth Chinese player selected in NBA history.
"I was really shocked all of a sudden. I'm very excited. I'm going to have a meal to celebrate." Yang Hansen seemed quite surprised after being selected with a high pick. Yang Hansen's agent, Ma Jie, told the outside world that this is not only a victory for Yang Hansen but also a victory for Chinese basketball. Yang Hansen will represent the young generation of Chinese players and demonstrate international competitiveness on the highest - level NBA stage. (China Newsweek)
The third batch of national subsidy funds for this year will be issued in July
On June 26, Li Chao, the deputy director of the Policy Research Office of the National Development and Reform Commission, stated that regarding the trade - in program for consumer goods, according to the established work arrangement, the third batch of funds for the trade - in program for consumer goods this year will be issued in July. At the same time, relevant parties will be coordinated to adhere to the principle of paying more attention to "timing" and "balance", and formulate monthly and weekly usage plans for national subsidy funds by different fields to ensure the orderly implementation of the trade - in policy for consumer goods throughout the year.
In addition, Li Chao said that the support from the ultra - long - term special treasury bond funds for equipment renewal this year amounts to 200 billion yuan. Approximately 173 billion yuan of the first - batch funds have been allocated to about 7,500 projects in 16 fields in accordance with the principle of "local review and national re - review", and the project review and screening for the second - batch funds are being carried out simultaneously. (China Government Network)
NVIDIA Once Again Becomes the World's Most Valuable Company
On June 25 local time, the three major U.S. stock indexes closed mixed. The Nasdaq rose 0.31%, the S&P 500 index closed flat, and the Dow Jones Industrial Average fell 0.25%. Large technology stocks were mixed. NVIDIA rose more than 4%, hitting a new record high in its stock price. Its total market value reached $3.77 trillion, once again becoming the world's most valuable company. Google rose more than 2%, while Microsoft and Apple posted slight gains. Tesla fell more than 3%, Intel dropped more than 1%, and Netflix, Amazon, and Meta saw slight declines. BP rose more than 1% and once soared more than 10% during the session. Reports said that Shell is in preliminary talks to acquire its competitor BP. Later, a Shell spokesperson said that there are currently no ongoing discussions. The stock price of U.S. solid-state battery company QuantumScape soared 31%. The company said it has achieved a milestone. (Jiemian News)
Controversy Arises as the Internet - Famous Graffiti Wall in Chengdu Changes from Panda Huahua to LABUBU, Pop Mart Says It Will Take Legal Action
Recently, the transformation of the internet - famous graffiti wall in Chengdu from a painting of panda Huahua to a LABUBU graffiti wall has sparked controversy among netizens. Pop Mart's official account previously stated that this act was an infringement and has initiated legal action. It is reported that on June 26, the LABUBU mural on the "internet - famous" wall was removed, leaving a white wall, and it has not been repainted yet. A nearby merchant said that the LABUBU hand - painted mural was painted on the night of June 18 and removed in the early morning of June 25.
It is understood that previously, the pattern on this "internet - famous" graffiti wall was of Chengdu's top - trending panda "Huahua", which was listed by many as a "must - visit spot when coming to Chengdu". A staff member from the Shuyuan Street Sub - district Office in Jinjiang District responded to the media, saying that it was not an act of the sub - district office but a spontaneous act by nearby shops to attract customers. (Cover News)
Vietnam Cancels 8 Death Penalty Charges, and Zhang Meilan, the Richest Woman in Vietnam, Will Have Her Death Sentence Commuted to Life Imprisonment
On June 25th, the Vietnamese National Assembly passed an amendment to the Criminal Code, canceling the death penalty for 8 crimes, including embezzlement and property encroachment. After the bill takes effect on July 1st, death sentences that have not been carried out will be commuted to life imprisonment. Zhang Meilan, the richest woman involved in this case, will thus be spared from the death penalty.
It is understood that 68-year-old Zhang Meilan was accused of defrauding 270 billion US dollars (about 6% of Vietnam's GDP) by controlling the Saigon Commercial Bank, setting a record for the largest financial fraud case in the country. She was sentenced to death in April this year. (Southeast Morning Post)
Messi's annual salary is $20.44 million, the highest in the entire US league. One person's income exceeds the total salary of 21 teams.
Recently, the Major League Soccer Players Association in the United States officially announced the salary situation of players in 2025. Football superstar Messi became the player with the highest salary in the entire league with an annual salary of $20.44 million. The salary list shows that Messi's basic salary is $12 million, and his guaranteed salary (excluding other bonuses and additional parts) is as high as $20,446,667. Messi's salary alone accounts for 43.7% of the total salary expenditure of Inter Miami CF, and even exceeds the total annual salary of 21 teams in Major League Soccer. (Titan Sports)
SpaceX Tops the Global Unicorn List for the First Time, with Musk's Companies Occupying Three of the Top Four Spots Among Unicorn Enterprises
Hurun Research Institute released the "Hurun Global Unicorn List 2025" in Guangzhou on June 26. SpaceX has become the world's most valuable unicorn, reaching an astonishing 26 trillion yuan, leading ByteDance and OpenAI. This is the first time a company in the space exploration field has taken the lead.
It is reported that with xAI, Musk is now the founder or co - founder of three of the world's four most valuable unicorn companies. He also has Neuralink (worth 58.5 billion yuan) and The Boring Company (worth 51 billion yuan), demonstrating how a visionary entrepreneur can repeatedly create huge value in completely different industries. Five people founded three unicorn companies, and more than 30 people founded two. (Sina Finance)
The US Dollar Index fell below the 97 mark, hitting a new low since 2022
According to JRJ.com, on June 26, the US Dollar Index suffered a sharp decline, falling below the 97.0 mark with a single - day decline of 0.72%, hitting the lowest level since February 2022. This performance indicates a significant weakening of the US dollar's dominant position in the global foreign exchange market.
Data shows that the cumulative decline of the US Dollar Index this year has widened to 10.1%, reflecting the continuous pressure on the US dollar. Meanwhile, non - US currencies have seen a comprehensive rebound. The Japanese yen's exchange rate against the US dollar was the most prominent, rising nearly 1% in a single day. The euro, the British pound, and the South Korean won all recorded a 0.7% increase against the US dollar, indicating a recovery of market confidence in these currencies. The Australian dollar also rose 0.55% against the US dollar, showing the resilience of commodity - linked currencies.
The continuous decline of the US Dollar Index reflects the subtle changes in the global currency pattern from the side. Against the backdrop of a weakening US dollar, the currencies of major developed economies have generally benefited, and exchange - rate fluctuations have shown obvious differentiation characteristics (JRJ.com)
The three major U.S. stock indexes closed higher collectively, with most large technology stocks rising
36Kr learned that at the close on June 26, the three major U.S. stock indexes rose collectively. The Dow Jones Industrial Average rose 0.94%, the Nasdaq Composite rose 0.97%, and the S&P 500 Index rose 0.8%. Most large technology stocks rose. Amazon, Meta, and Netflix rose more than 2%, Microsoft and Google rose more than 1%, and Arm and NVIDIA rose slightly. Tesla and Apple fell slightly. Most popular Chinese concept stocks fell. XPeng Motors fell more than 6%, Pinduoduo, Weibo, and NIO fell more than 1%, and Alibaba, Baidu, NetEase, and Li Auto fell slightly. iQiyi rose more than 1%, and JD.com rose slightly.
Zhang Chaoyang and Zhang Xuefeng Discuss Whether to Choose 700 Points in the College Entrance Examination or 7 Million Yuan: Suitability Matters More
On June 25th, Zhang Chaoyang and Zhang Xuefeng discussed "whether to choose 7 million yuan or 700 points" in a conversation. Zhang Xuefeng pointed out that students who can score 700 points have strong abilities in all aspects, and it won't be a problem to choose a better school and have a good future development even without the 7 million yuan. However, if a student usually can only score more than 400 points, 7 million yuan might be a more realistic choice. Zhang Chaoyang said that he prefers to choose 700 points because education and the understanding of the world are very important, and 7 million yuan might make people lose their way. (Litchi News)
General Motors Recalls 62,468 Vehicles in the US Due to Brake Pressure Switch Issue
The National Highway Traffic Safety Administration (NHTSA) said on June 26 that General Motors will recall 62,468 vehicles in the United States because an electrical short circuit in the brake pressure switch may increase the risk of fire while the vehicle is in motion or parked. This recall involves the 2019 - 2024 Chevrolet Silverado models. This incident highlights the ongoing safety challenges faced by the automotive industry. (Sina Finance)
Google Releases Offline Robot AI Model with Visual Recognition, Language Understanding, and Action Execution Capabilities
It is reported that Google DeepMind has launched a brand - new robot control model called Gemini Robotics On - Device. This model can run locally on robots and has the capabilities of visual recognition, language understanding, and action execution. Even in a completely offline situation, Gemini On - Device can understand human instructions and smoothly complete tasks.
Gemini On - Device has advantages in tasks such as medical operations, disaster relief, and factory automation because it doesn't need to transmit data to the cloud, thus reducing latency and improving stability. (Sina Tech)
Meta Poaches Three OpenAI Researchers to Join Superintelligence Team
Meta CEO Mark Zuckerberg has poached three OpenAI researchers to join his Superintelligence team, a hiring victory aimed at helping Meta emerge from the artificial intelligence crisis. People familiar with the matter revealed that the social media giant has hired Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, who previously worked at OpenAI's Zurich office. The three established OpenAI's Zurich office at the end of last year. Before that, they worked together at Google's artificial intelligence division, DeepMind. (Sina Finance)
Xiaomi's First AI Glasses Officially Launched, Starting at 1,999 Yuan
On the evening of June 26th, Lei Jun, the CEO of Xiaomi Group, launched the Xiaomi AI glasses at a press conference. Xiaomi officially stated that the Xiaomi AI glasses "are a next - generation personal smart device and a portable AI entry point." The glasses weigh as little as 40g, with a comfortable design that doesn't pinch the head or ears. They are available in three color options: classic black, semi - transparent tortoise - shell brown, and parrot green, and support full - channel eyewear fitting services both online and offline. Meanwhile, the Xiaomi AI glasses also serve as a first - person perspective camera, equipped with a 12 - megapixel high - definition lens. They support immersive photo taking and video recording, are compatible with video calls and live - streaming functions of third - party apps, and also feature an open - style headphone function. (Jiemian News)
"Chenjing Technology" Completes Tens of Millions of US Dollars in Strategic Investment
36Kr learned that according to Huoshanshi Investment, recently, "Chenjing Technology" announced the completion of a new round of strategic investment of tens of millions of US dollars led by Goertek, BYD, and a Hong Kong family office. The funds from this round of financing will be used to accelerate the iterative upgrading of its spatial intelligence technology, deepen the commercialization of spatial intelligence, enter the core value chain of embodied intelligence, and achieve large-scale application.
US prediction market platform Kalshi completes a new round of financing, valued at $2 billion
Tarek Mansour, the CEO of prediction market platform Kalshi, posted on X on Wednesday that the company raised $185 million in a round of financing, and its valuation reached $2 billion. Mansour said that this round of financing was led by Paradigm, an investor focused on cryptocurrencies. Investment firms Sequoia, Multicoin, Neo, and Bond Capital, as well as Peng Zhao, the CEO of Citadel Securities, participated in the investment. (Sina Finance)
“Time Traveler” Completes Angel + Round Financing Worth Tens of Millions of Yuan
36Kr learned that recently, Beijing Time Traveler Manned Space Technology Co., Ltd. completed an angel + round financing worth tens of millions of yuan. This round of financing was jointly invested by Zhongtian Huifu and Binfu Capital. The funds will be used to accelerate the engineering development of the Time Traveler No. 1 (CYZ1) sub - orbital manned spacecraft and the production of the first test ship.
Compiled | Yuan Si