At 9 o'clock, Kr 36 | Tsai Lam passed away at the age of 83; Xibei apologized for a former employee secretly taking pictures of a 6-year-old female customer; Lei Jun: Xiaomi won't announce the 24-hour sales volume of Xiaomi Yu7.
Going Public in Progress
Beijing Roborock Technology Co., Ltd.
36Kr learned from documents filed with the Hong Kong Stock Exchange that Beijing Roborock Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are J.P. Morgan and CITIC Securities.
Howell Integrated Circuit (Group) Co., Ltd.
36Kr learned that according to documents from the Hong Kong Stock Exchange, Howell Integrated Circuit (Group) Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange.
Shenzhen Dapu Microelectronics Co., Ltd.
On June 27th, the initial public offering (IPO) application of Shenzhen Dapu Microelectronics Co., Ltd. (hereinafter referred to as "Dapu Micro") was accepted by the Shenzhen Stock Exchange, making it the first unprofitable enterprise to have its application accepted on the Growth Enterprise Market. (Securities Times)
TOP 3 Big News
Tsai Lan Passed Away at the Age of 83
On June 27th, a message was posted on Tsai Lan's Weibo: Our beloved Mr. Tsai Lan passed away peacefully at Hong Kong Sanatorium and Hospital on June 25th, 2025 (the first day of the sixth lunar month), accompanied by his relatives and friends. In accordance with Mr. Tsai's wishes, no ceremony will be held to avoid disturbing relatives and friends, and his body has been cremated.
Tsai Lan was born on August 18th, 1941. He was a well - known writer, gourmet, and host. He, along with Jin Yong, Huang Zhan, and Ni Kuang, was known as the "Four Talents of Hong Kong". Each of the four had his own strengths and they were all good friends. At that time, people described them like this: Uncle Zhan who wrote pop songs, Ni Kuang who wrote science fiction, Tsai Lan who wrote about food, and Jin Yong who wrote martial arts novels.
Xibei Apologizes for Inappropriate Behavior of Former Employee, Involved Employee Has Left the Company
On June 27, parents in Hangzhou reported that a 6-year-old girl was secretly photographed by a male waiter at Xibei, and the photos were used as the background image on a short video platform. In response, Xibei Catering's official Weibo account issued a statement on the 27th, stating that after verification, the involved employee is He, a former employee who has left the company. After communication, He has deleted the relevant photos.
Xibei stated that in all its stores across the country, Xibei strictly prohibits the unauthorized release of customers' photos, and employees are even more prohibited from privately taking photos of customers and retaining customers' information. Xibei will organize special training on customer privacy protection for all employees in its national stores to clarify the handling standards and legal consequences of violations. (China News Service)
Lei Jun: Xiaomi YU7's 24-hour sales volume will not be announced
On the evening of June 27th, Lei Jun, the founder, chairman, and CEO of Xiaomi, posted on Weibo, saying that after Xiaomi YU7 went on sale at 10 p.m. last night, the orders far exceeded our most optimistic expectations. "But we will never be complacent about this, let alone be arrogant. We are well aware that compared with the global industry leaders, we are still very inexperienced and there is a huge gap. We know that we still have a lot of deficiencies to improve and too many challenges to face. We will continue to be cautious in our words and actions, go all out, and live up to everyone's expectations." Lei Jun wrote. Some netizens also asked in the comment section whether the 24-hour sales volume would be announced. Lei Jun replied, "It won't be announced."
Big Companies/Big Events
Xiaomi Responds to "Rumors about Former Employee Feng": He Was a Canteen Vegetable Cutter and Was Fired for Absence without Leave
On June 27, Wang Hua, the general manager of Xiaomi Group's public relations department, posted on his personal social account, responding to the recent online rumor that "former Xiaomi director Feng signed maintenance agreements with 200 people" -
There have been two highly - concerned things in recent days, but we were busy with the Xiaomi YU7 press conference and didn't have time to respond. Today, I'll share what I've learned: First, there's the so - called big scoop about the "former Xiaomi director Feng XX" on the Internet. After verification, this person joined the Xiaomi canteen in September 2016 as a vegetable cutter. Due to absence without leave, he was fired in November of the same year. During his short tenure, he never held any director position at Xiaomi. (China Newsweek)
Dongfeng Nissan Executive Responds to Inappropriate Remarks about YU7: Has Conducted In - depth Self - reflection and Deleted Relevant Content
According to Jiemian News, on the afternoon of June 27, Huang Zhaokun, an executive of Dongfeng Nissan, issued an apology statement. He said that he deeply apologized for his inappropriate remarks about Xiaomi YU7 posted on June 27, 2025. "I have conducted in - depth self - reflection and deleted the relevant inappropriate content. In the future, I will surely be cautious in my words and actions and jointly maintain the healthy development of the industry."
On June 27, when reposting a Weibo post about Xiaomi's order volume, Huang Zhaokun said, "Xiaomi YU7 received 200,000 firm orders in 3 minutes. Behind such data, it means that users have to wait for more than a year for vehicle delivery. There are no such blindly loyal brand fans in any country." Currently, this Weibo post has been deleted. (Jiemian News)
ROMOSS Responds to Difficulty in Shipping Recalled Power Banks: Consumers Can Report to the Purchase Platform
According to a report by Upstream News, recently, power bank brands such as ROMOSS and Anker have initiated the recall of power banks from certain batches. As previously reported by the media, ROMOSS is recalling nearly 500,000 power banks, and Anker is recalling nearly 710,000 power banks. However, many consumers who purchased power banks from these two brands have reported that they encountered express delivery companies refusing to accept the recalled power banks when trying to send them back.
On the afternoon of June 26th, a reporter inquired with the ROMOSS power bank customer service about the issue of being unable to send back the recalled power banks. A staff member said that consumers can leave the platform where they made the purchase and the order number, and they will urge the platform to come up with a new solution. Consumers can also directly report the issue to the purchase platform. "You can leave a message in the dialog box saying that you've tried multiple express delivery services but still can't send the power bank back, and asking for a harmless disposal solution. The platform will provide a specific solution after seeing the message."
The reporter also called Anker's power bank customer service hotline, but the line was constantly busy. The reporter left messages on Anker's official flagship stores on multiple e - commerce platforms, asking "What should I do if the express delivery company refuses to accept Anker's recalled power banks?", but the intelligent customer service did not provide a solution. (Upstream News)
Crocs Faces Class - Action Lawsuit in the US Due to Thermal Deformation of Clogs
It is reported that multiple American consumers have filed a federal class - action lawsuit against the company, accusing its iconic clogs of having a risk of shrinking and deforming under high - temperature and sunlight conditions. The brand failed to fully disclose this potential defect to users. Currently, the local court has partially accepted the case. According to court documents, the plaintiffs believe that the materials used in Crocs shoes pose a risk of physical deformation in ordinary thermal environments and are not suitable for outdoor sports. The brand did not provide sufficient warnings in packaging, marketing, or user guides, which constitutes a design defect and misleading behavior. As of now, Crocs has not made a public response to this matter. (Southern Metropolis Daily)
Former Intel CEO Responds to Resignation for the First Time: The Resignation Was a Decision Made by a "Third Party"
According to IT Home, former Intel CEO Pat Gelsinger resigned in December 2024 after only four years in office. He publicly spoke about the reason for his resignation for the first time during an interview at the Playground Global Conference held in Tokyo on June 24.
Gelsinger said, "The decision to resign from Intel was extremely difficult for me. I also wanted to complete the unfinished business, but as you know, I no longer had the chance." (IT Home)
Spend 28 yuan a month to chat with your idol: QQ Music's "Bubble" feature is criticized
Recently, QQ Music quietly launched a new paid feature called "Bubble" that allows users to chat with artists. Currently, this feature is still in the internal testing phase, but it has already sparked intense discussions among the fan circle and user groups. Many people suspect that QQ Music is trying to "fleece the sheep."
In essence, "Bubble" is a paid interactive service. Users can pay a monthly subscription fee of 28 yuan to get the chance to have "private communication" with artists and receive text, pictures, voice and other push messages from their idols. As soon as this feature was launched, it was criticized by users, who thought the price was too high. Compared with the 15 - yuan monthly fee for QQ Music's Green Diamond membership, the 28 - yuan monthly fee for "Bubble" seems to offer poor value for money. Besides the price controversy, the user experience of "Bubble" has also been criticized. Many users reported that the page design of this feature is messy, there are too many advertisements, the jump path is complicated, and the loading speed is slow. At the same time, there are also concerns about the supervision of minors' consumption. The "Bubble" feature currently does not have a parental supervision option or a consumption limit. Some parents are worried that their children may be influenced by the "fan - circle atmosphere" and recharge beyond their means. (Jiemian News)
Jensen Huang has recently sold 225,000 shares of NVIDIA stock, cashing out nearly $33.2 million in total
According to a filing submitted by NVIDIA to the U.S. Securities and Exchange Commission (SEC) on June 26 local time, Jensen Huang, the CEO of the company, has sold a total of 225,000 shares of NVIDIA stock since June 20, cashing out nearly $33.2 million. (Jiemian News)
Shanghai Airport Responds to Ban on Camera Batteries: The Ban Has Not Been Extended to Other Devices Such as Batteries for Now
It is reported that recently, the Civil Aviation Administration issued an urgent notice stating that starting from June 28, passengers are prohibited from carrying power banks without a 3C logo, with unclear 3C logos, or of recalled models or batches on domestic flights. It is rumored that camera batteries cannot be taken on the plane either. Some netizens were stopped when boarding at Shanghai Airport, which has sparked heated discussions.
On June 27, a staff member from the security check department of Shanghai Hongqiao Airport responded that currently, the boarding ban only applies to power banks without a 3C logo and has not been extended to other devices such as batteries. As long as the batteries meet the capacity limit, they can still be normally allowed through. (Zhengzai News)
Chinese Football Association officially announces: Ivankovic no longer serves as the head coach of the Chinese national team, and Djordjevic is appointed as the interim head coach
According to the website of the Chinese Football Association, the Asian Qualifiers for the 2026 FIFA World Cup in the United States, Canada, and Mexico's Round of 18 have ended. Since the Chinese national men's football team failed to advance to the play - off stage, the coaching contracts of the head coach and the coaching staff have automatically terminated as agreed. After the evaluation by the expert review panel, the Chinese Football Association has decided that Branko Ivankovic will no longer serve as the head coach of the Chinese national men's football team.
In order to prepare for and participate in the 2025 EAFF E - 1 Football Championship (EAFF East Asian Cup), after the evaluation by the expert review panel, the Chinese Football Association has decided that Dejan Djordjevic will serve as the interim head coach of the Chinese national men's football team and lead the team to participate in the competition. At the same time, the Chinese Football Association will simultaneously initiate the recruitment process for the head coach of the Chinese national men's football team for the new cycle. (Jiemian News)
FAW Toyota's Sales Headquarters Officially Moves Out of Beijing
On June 26th, FAW Toyota Motor Sales Co., Ltd. officially moved out of Beijing and relocated to a new office building in Tianjin Binhai New Area. This relocation took nearly a year and represents a major adjustment in the company's strategic layout. The company is a Sino - foreign joint venture established in September 2003 by China FAW Group Co., Ltd. and Toyota Motor Corporation, and it is also the sales headquarters of FAW Toyota.
It is worth noting that for as long as 22 years, FAW Toyota's production and sales headquarters have been separated. Production has mainly been concentrated in Tianjin, while the sales center has been located in Beijing. Although this model has operated smoothly in the past, as the competition pattern in the automotive market has evolved, its drawbacks have gradually emerged. Data from the Passenger Car Association shows that from 2021 to 2024, the retail sales of new FAW Toyota vehicles were 846,000, 799,000, 802,000, and 798,000 respectively, with growth rates of 7.5%, - 5.6%, 0.3%, and - 0.5% respectively, showing a fluctuating downward trend. (China Economic Net)
Rectifying "Involution-style" Competition: The Anti-unfair Competition Law is Revised
On June 27, 2025, according to Xinhua News Agency, the 16th meeting of the Standing Committee of the 14th National People's Congress voted to pass the newly revised Anti-unfair Competition Law, which will come into force on October 15, 2025. The newly revised Anti-unfair Competition Law consists of five chapters: General Provisions, Unfair Competition Acts, Investigation into Suspected Unfair Competition Acts, Legal Liabilities, and Supplementary Provisions. This law stipulates that the state shall improve the rules and systems against unfair competition, strengthen law enforcement and judicial work in this regard, safeguard the market competition order, and improve a unified, open, competitive, and orderly market system.
The current Anti-unfair Competition Law was promulgated and implemented in 1993 and was amended twice in 2017 and 2019. The legal framework and main systems are generally feasible. With the rapid economic development, the law also faces some new problems in implementation, and there is an urgent need for targeted amendments and improvements. In December 2024, the Standing Committee of the 14th National People's Congress conducted the first review of the draft revision of the Anti-unfair Competition Law. (Xinhua News Agency)
Ideal's Major Sales System: President Ma Donghui in Full Charge of R&D, Supply Chain, and Sales
36Kr Auto exclusively learned that on June 27, Li Auto issued an internal announcement, announcing new personnel appointments. Li Auto's President Ma Donghui will be in full charge of R&D, supply and manufacturing, and sales operations starting from now on, reporting to CEO Li Xiang.
The core of this adjustment lies in sales. The sales department will be incorporated into the R&D and supply group. Ma Donghui will oversee the production, supply, and sales operations to support the closed - loop of "strategy to operation". At the beginning of this year, Ma Donghui, the president of Li Auto, became the person - in - charge of the intelligent vehicle strategy, overseeing the strategic goal planning and implementation of intelligent vehicle business. Meanwhile, Ma Donghui began to serve as the director of the "Production, Supply, and Sales Joint Meeting". Li Auto's original intention was to deeply coordinate production, the supply chain, and sales.
However, the changes at the beginning of the year only involved the decision - making level and did not involve changes in the physical structure. After this adjustment, Ma Donghui will be more deeply involved in the production, supply, and sales links of the whole vehicle from the organizational structure. Zou Liangjun, the senior vice - president of Li Auto's sales and service, previously reported to CEO Li Xiang. After the adjustment, Zou Liangjun will continue to serve as an advisor for sales and service business.
WeChat Updates with New Feature: Only Notify Interactions with Friends in Moments
On June 27th, the latest WeChat update focused on optimizing interactions in Moments and introduced an option to "only notify interactions with friends."
After enabling this feature, users will only receive interaction notifications under their own posted content and will no longer receive notifications for new interactions on other people's Moments where they have previously interacted. This part of the content can still be viewed in the message center. It's worth noting that WeChat has recently launched a series of practical feature updates, including but not limited to earthquake warnings, automatic translation, nearby job opportunity queries, chat history backup, and one - time cleaning of "friends who have deleted or blocked you," continuously improving the social experience. (Caixin Technology)
Musk Says X Will Charge Fees Based on the Vertical Size of Ads
On June 27th, Musk stated that X will charge fees based on the vertical size of ads, and full - screen ads will cost more than ads that occupy one - quarter of the screen. (Jiemian News)
BOCHI Wealth Management Responds to Multiple Violations: The Company Attaches Great Importance and Completed Regulatory Rectification Requirements in June Last Year
The official website of the National Financial Regulatory Administration disclosed that BOCHI Wealth Management was fined 12.9 million yuan for issues such as inadequate management of non - standard debt investments, the investment concentration and liquidity of wealth management products not meeting regulatory requirements, and inadequate information registration management. In response, BOCHI Wealth Management stated on its official website that the relevant fines were for issues discovered by the financial regulator during an on - site inspection of wealth management business in 2023. BOCHI Wealth Management said that the company attaches great importance to the regulatory opinions, conducts immediate investigations and rectifications, and all issues subject to the penalty have been strictly rectified in accordance with regulatory requirements by June 2024. Currently, the company's wealth management products are operating in an orderly manner. Next, the company will draw inferences from one instance and continuously strengthen business compliance management. (Securities Times)
The Cutting - Edge of AI
Tencent Hunyuan's First Open-Source Hybrid Inference MoE Model Makes Its Debut on ModelScope Community
36Kr learned that on June 27th, Hunyuan-A13B, the first hybrid inference MoE model open-sourced by Tencent Hunyuan, made its debut on the ModelScope Community. The model has a total of 80B parameters, with only 13B active parameters. It is the industry's first open-source hybrid inference MoE model at the 13B level. ModelScope Community is China's largest open-source community, and leading open-source models in the industry all choose ModelScope Community as their first release platform.
As of June 2025, the total number of models on the ModelScope Community exceeded 70,000, covering multiple fields such as LLMs, conversations, voice, text-to-image, image-to-video, and AI music composition. It supports over 4000 MCP services and has served more than 16 million developers.
Financial Reports of Large Companies
Alibaba's net profit in fiscal year 2025 was 125.976 billion yuan, and its revenue was 996.347 billion yuan
According to China Securities Journal, on the evening of June 26, Alibaba Group released its annual report for fiscal year 2025. In fiscal year 2025, Alibaba Group's revenue was 996.347 billion yuan, and its net profit was 125.976 billion yuan, a year-on-year increase of 77%. (China Securities Journal)
Compiled | Dai Minghui