8 a.m. Latest News: Qingdao University Responds to Dormitory Supervisor Incident, Publicizes 7,217 Air - Conditioner Procurement; Donald Trump Announces 25% Tariff on Japan and South Korea; Maoyan Responds to High - Priced Jay Chou Concert Screen Ticket Issue

Qingdao University responded early in the morning to the incident of the dormitory supervisor's passing. Previously, it had announced a procurement of 7,217 air conditioners.

Going Public in Progress

Xingyuan Materials

36Kr learned that Xingyuan Materials announced that the company submitted an application to The Stock Exchange of Hong Kong Limited on July 7 for a public offering of overseas-listed foreign shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. On the same day, it also published the application materials for this issuance and listing on the website of the Hong Kong Stock Exchange.

Top 3 Big News

Qingdao University issued a statement early in the morning, previously announcing the procurement of 7,217 air conditioners

Early on July 6th, an apartment caretaker at Qingdao University was found unconscious in the duty room. Emergency responders arrived at the scene and confirmed his unfortunate passing. In response, many students posted online saying that the caretaker lived in a bungalow with only a fan and no air conditioner, and it was suspected that he died of heatstroke. Early on July 7th, Qingdao University issued a statement saying that around 7:30 a.m. on July 6th, 2025, a property staff member at the Fushan Campus of our university was found in an abnormal physical condition in the duty room. After investigation by the public security authorities, criminal cases have been preliminarily ruled out, and the specific cause is under investigation.

Reporters noticed that in March this year, Qingdao University released procurement intentions on the Shandong Government Procurement Network, including the "Student Apartment Air Conditioner Installation Project" and the "Student Apartment Air Conditioner Installation and Cable Laying Project". It was mentioned that the project includes the purchase and installation of more than 7,300 air conditioners for student apartments. The air conditioners have a first - level energy efficiency rating, are remotely controlled, inverter - type, and have electric heating assistance. The actual situation shall be subject to the tender announcement. The Shandong Government Procurement Network announced the procurement contract for the student dormitory air conditioner procurement and installation project of Qingdao University on July 1st. The contract shows that the supplier is Qingdao Haiyuanhe Trading Co., Ltd. The main item is air conditioners, and the quantity of the main item is 7,217. The contract was signed on June 23rd, 2025. (Jimu News)

US President Trump Announces a 25% Tariff on South Korea and Japan

On July 7 local time, US President Trump posted letters addressed to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung on social media platforms, announcing that the United States will impose a 25% tariff on all products imported from Japan and South Korea starting from August 1, 2025. In these two letters with almost identical content, Trump wrote, "Please understand that the figure of 25% is far lower than the level required to eliminate the trade deficit between our country and yours." (CCTV News)

Maoyan Responds to the Situation Where 500 Yuan Only Gets You to Watch the Big Screen at Jay Chou's Xiamen Concert

On the evening of July 6th, some netizens noticed that the tickets for Jay Chou's concert in Xiamen were about to go on sale for the third time. It's worth noting that the pre - purchase notice clearly stated that in addition to the previously refunded tickets, this sale also included newly added areas with poor sight lines on both sides of the stage and an area for watching the concert on the big screen, with prices of 500 yuan and 900 yuan respectively.

On July 7th, a customer service representative from Maoyan, the ticketing agency, stated that in the big - screen viewing area, the view is blocked by the control console, so viewers can only watch the big screen and experience the on - site atmosphere. There are also some limitations in the field of vision in the area with poor sight lines. Consumers are advised to consider carefully before purchasing tickets, and it was emphasized that ticket refunds are not supported. The platform is only responsible for sales, and ticket prices are not set by the platform, but are subject to the actual sales situation. (Red Star News, Economic TV Live)

Big Companies/Big Events

ROMOSS's official flagship stores on multiple platforms shut down, with monthly losses potentially reaching 200 million yuan

Early on the morning of July 6th, ROMOSS, a well - known domestic power bank brand, suddenly issued a notice of suspension of work and production, less than 50 hours after its official Weibo post stating that "it is not going bankrupt". This crisis of ROMOSS stems from the power bank recall event it announced on June 16th. Due to potential combustion risks caused by defects in some battery cell raw materials, ROMOSS announced the recall of a total of 491,700 power banks in 3 models. It is estimated that the direct loss from the recall exceeds 40 million yuan. Coupled with the product delisting, ROMOSS's monthly losses reach 100 million - 200 million yuan, and its capital chain is under huge pressure.

On July 7th, reporters noticed that ROMOSS's Tmall official flagship store on the Taobao platform had been closed, and ROMOSS's official flagship stores could no longer be found on the JD.com and Pinduoduo platforms. Currently, ROMOSS's official flagship store on the Douyin platform is still in operation. On the JD.com platform, only ROMOSS's JD.com self - operated flagship store and ROMOSS Digital Accessories Flagship Store are still operating. (Beijing Business Today, China News Service)

The EU Says It Is Still Striving to Reach a Principled Trade Agreement with the US

European Commission spokesman Orlof Gill said on the 7th that the EU is still striving to reach a principled bilateral trade agreement with the US before July 9th, and the EU and the US are still in continued contact. Gill said that the EU has always been committed to reaching an agreement that is beneficial to EU businesses, consumers, and the global economy. In addition, the EU has also prepared options to deal with all possible outcomes, including a retaliatory list, but it does not intend to initiate this procedure for the time being. He said that the EU has completed consultations with member states, businesses, and stakeholders. Currently, the EU still regards negotiations as its top priority, but it is also preparing for other possible outcomes. (Xinhua News Agency)

White House: Trump Plans to Extend the Suspension Period of "Reciprocal Tariffs" to August 1

White House Press Secretary Caroline Levitt confirmed at a press conference on the afternoon of the 7th that US President Donald Trump plans to sign an executive order to extend the 90 - day suspension period of "reciprocal tariffs", postponing the implementation date from July 9 to August 1.

The three major U.S. stock indexes closed down collectively, and large technology stocks generally declined

36Kr learned that at the close on July 7, the three major U.S. stock indexes fell collectively. The Dow Jones Industrial Average dropped 0.94%, the Nasdaq Composite Index fell 0.92%, and the S&P 500 Index declined 0.79%. Large technology stocks generally declined. Tesla dropped more than 6%, Intel fell more than 2%, Apple and Google declined more than 1%, while NVIDIA, Microsoft, and Meta had slight drops, and Amazon had a slight increase. Popular Chinese concept stocks showed mixed performance. Bilibili rose more than 7%, Zhihu climbed more than 6%, Chatime rose more than 5%, Baidu and Li Auto increased more than 3%, and Pinduoduo rose more than 1%. XPeng Motors dropped nearly 5%, Alibaba and NIO declined more than 2%, and JD.com and iQiyi had slight drops.

Apple Appeals Against €500 Million Fine Imposed by the EU

On the 7th local time, Apple filed an appeal against the €500 million ($586 million) fine imposed by the EU for its violation of the Digital Markets Act. (CCTV News)

Short-sellers poised to profit about $1.4 billion after Tesla's sharp stock price plunge

Traders stand to book about $1.4 billion in paper profits from short positions in Tesla shares on Monday as concerns about Chief Executive Elon Musk's commitment to the company's future were exacerbated by his plan to form a new U.S. political party. Musk's political move came after his public spat with Donald Trump over the U.S. president's tax and spending bills. (Sina Finance)

Xiaomi's Wang Xiaoyan Says Air Conditioner Sales in Northeast China and Inner Mongolia Soar

On July 7th, Wang Xiaoyan, the vice president of Xiaomi Group and the president of the China region, posted a message saying that since June 24th, there has been continuous high - temperature weather in Northeast China and Inner Mongolia, leading to a sharp increase in air conditioner sales. The sales of Xiaomi air conditioners reached up to 20 times that of the same period last year. Our service department urgently organized installation engineers from all over the country to rush to Northeast China and Inner Mongolia to ensure timely installation for users.

In late June this year, the temperature in Northeast China remained relatively high. The maximum temperature in some areas exceeded 30°C, and in some cities and counties, it even reached 35°C to 37°C. (Caixin Technology)

North China Regional Administration of CAAC: Since the implementation of the policy on June 28, the number of self - discarded power banks by passengers has significantly decreased

36Kr learned that according to the North China Regional Administration of CAAC, in order to further implement the relevant requirements of the Civil Aviation Administration of China (CAAC) on the safety work of passengers carrying power banks on flights and summarize the implementation of relevant work since the implementation of the policy, the North China Regional Administration organized a special work meeting on passengers carrying power banks on flights in North China. It is reported that since the implementation of the policy on June 28, the number of self - discarded power banks by passengers has significantly decreased. Taking the two airports in Beijing as an example, the number of self - discarded power banks has dropped from more than 16,000 on the first day to more than 8,000 on July 1, a decrease of about 50%. In the future, the North China Regional Administration will continue to implement various regulations and requirements of the CAAC, urge units in the jurisdiction to do a solid job in publicity and notification, identification and inspection, employee training, emergency response and other work, further strengthen the safety management of passengers carrying power banks on flights in North China, and effectively ensure the safe operation of civil aviation in North China.

Renrenle Officially Delisted after Four Consecutive Years of Losses

On July 4th, according to the announcement of Renrenle Chain Commercial Group Co., Ltd. regarding the termination of listing and delisting of the company's shares, the company's shares have been decided by the Shenzhen Stock Exchange to be delisted. They entered the delisting disposal period on June 13th, 2025, and traded for fifteen trading days during the delisting disposal period. The last trading date was July 3rd, 2025, and the shares were delisted on July 4th, 2025. Thus, Renrenle, once a supermarket giant, was officially delisted. Due to four consecutive years of losses and insolvency, Renrenle ultimately failed to reverse the decline and ended up with a dismal delisting. (Daily Economic News)

Pop Mart Boosts the Popularity of Trendy Toy Storage Boxes in Yiwu

It is reported that in the past two years, trendy toy storage boxes have rapidly emerged in Yiwu, Zhejiang, driving the local small commodity industry to embrace new development. According to Zhang Xiaojie, a local merchant, Yiwu is known as the "Capital of World Small Commodities" and deals with millions of kinds of products ranging from washbasins to plastic toys. After the rise of trendy toy storage boxes, local merchants have paid more attention to functional innovation and developed detachable and freely combinable storage boxes. "This has also brought a new look to Yiwu's small commodities," said Zhang Xiaojie. (Zhejiang Evening News)

Ministry of Finance: Two issues of electronic savings bonds worth no more than 45 billion yuan will be issued from July 10th to July 19th

Announcement from the Ministry of Finance and the People's Bank of China: To raise fiscal funds and support the development of the national economy and social undertakings, the Ministry of Finance has decided to issue the fifth issue of savings bonds (electronic) in 2025 (bond abbreviation: 25 Savings Bond 05, bond code: 251705, hereinafter referred to as the fifth issue) and the sixth issue of savings bonds (electronic) in 2025 (bond abbreviation: 25 Savings Bond 06, bond code: 251706, hereinafter referred to as the sixth issue). Both issues of bonds are of fixed - rate and fixed - term varieties. The fifth issue has a term of 3 years, with a coupon annual interest rate of 1.63% and a maximum issuance amount of 22.5 billion yuan; the sixth issue has a term of 5 years, with a coupon annual interest rate of 1.7% and a maximum issuance amount of 22.5 billion yuan. The issuance period of the two issues of bonds is from July 10th to July 19th, 2025. Interest will start to accrue on July 10th, 2025, and be paid annually on July 10th each year. The principal and the last interest payment of the fifth and sixth issues will be made on July 10th, 2028, and July 10th, 2030, respectively. (Jiemian News)

Li Bin Says Larger Batteries Cause More Damage to Roads

It is reported that recently, Li Bin, the chairman and CEO of NIO, publicly shared his views on battery life and vehicle weight. Li Bin stated that although increasing the battery size can improve the driving range, it will lead to an increase in weight. He emphasized that many people overlook the impact of vehicle weight on safety and public facilities. Heavier cars not only pose greater safety challenges but also cause more serious damage to roads. He mentioned that many countries have already imposed taxes based on vehicle weight to address this issue. (Financial Auto)

Floods in Texas, USA, Have Killed at Least 82 People

According to the latest news from US media, the floods in Texas, USA, have currently killed at least 82 people, including 28 children. Texas Governor Abbott also said that there is expected to be "more heavy rainfall" in the coming days, and some areas in Texas still face the danger of floods. Local officials urged residents to go to higher ground and make preparations for taking shelter. (China News Service)

99Bill Fined 6.25 Million Yuan for Violating Clearing Management Regulations

On July 7th, the administrative penalty disclosure form from the Shanghai Branch of the People's Bank of China revealed that on June 26, 2025, 99Bill Payment & Clearing Information Co., Ltd. was issued a warning and fined 6.25 million yuan for violations of clearing management regulations, account management regulations, and merchant management regulations. (Jiemian News)

Galeries Lafayette Appoints Arthur Lemoine as CEO

Galeries Lafayette announced in a statement on July 7 that it has appointed Arthur Lemoine as its CEO, effective immediately. Arthur Lemoine, 40, has been with Galeries Lafayette for over 15 years. He has held various positions across different brands and departments within the group, and his most recent role was Director of Supply and Procurement. (Jiemian News)

Indonesia Promises to Buy More U.S. Wheat in Hopes of Reaching a Trade Agreement

Indonesia plans to purchase more wheat from the United States in hopes of reaching a trade agreement before the tariff effective date. Franciscus Welirang, the chairman of the Indonesian Flour Mills Association (Aptindo), said in a phone interview that Indonesia will sign a memorandum of understanding on wheat procurement for 2025 - 2030 with the United States in Jakarta on Monday. (Sina Finance)

Key Focus of Elon Musk's Work in the Next 12 Months After Proposing a "United States Party": The Two Houses of Congress

On July 6 local time, American entrepreneur Elon Musk posted on a social media platform, saying that it's not impossible for him to support a presidential candidate, but his focus for the next 12 months will be on the House of Representatives and the Senate. (CCTV News, Jiemian News)

Trump Says the US Will Consult with China on Possible Acquisition of TikTok, Foreign Ministry Responds

Maoning Mao, the spokesperson of the Ministry of Foreign Affairs, presided over a regular press conference. US President Donald Trump recently stated that the US will consult with China on the possible acquisition of TikTok. He said that the agreement is basically reached, but it may still need approval from China. Can the Ministry of Foreign Affairs provide more information? "On the issue related to TikTok, China has repeatedly clarified its principled stance," said Maoning Mao. (Beijing Daily)

In the first five months, Shanghai Port's toy exports increased by 8.2%, and over 63,000 pieces of infringing Pop Mart goods were seized

Data from Shanghai Customs shows that in the first five months of this year, the value of toy exports through Shanghai Port exceeded 8 billion yuan, a year-on-year increase of 8.2%. In recent years, Chinese trendy toy brands such as Pop Mart have become popular both at home and abroad. The booming market demand has also given rise to the chaos of counterfeiting. In the first half of this year, Shanghai Customs has cumulatively seized 97 batches of cultural and creative products infringing on Pop Mart's trademark rights and copyrights, involving over 63,000 pieces of infringing goods. (Yicai Global)

The Cutting - Edge of AI

Musk: Altman Is Unreliable

When replying to a video about Sam Altman, the CEO of OpenAI, Musk said that seeking the truth to the maximum extent is the foundation of AI safety. If you force AI to lie, it will do crazy things. This is the core lesson of "2001: A Space Odyssey". Altman is unreliable. He has reversed OpenAI's mission from a non - profit, open - source AI company to a closed - source, profit - maximizing AI company. It's simply deception. (Sina Finance)

Fidu Technology Releases "Zhengrong Large Model"

36Kr learned that Fidu Technology has launched the "Zhengrong Large Model". In international evaluations such as City3D, its modeling accuracy and semantic understanding ability rank among the top in the world. It can be applied in fields such as disaster simulation and cultural heritage protection, promoting the upgrade of digital twins to cognitive intelligence. Fidu Technology will open the Demo and API.

Alibaba Tongyi Officially Open-Sources Web Agent WebSailor

On July 7th, Alibaba Cloud announced that Tongyi officially open-sourced the web agent WebSailor. Currently, the construction plan and part of the dataset of WebSailor have been open-sourced on Github. According to Alibaba Cloud, the actual test results of the English and Chinese versions of the BrowseComp evaluation set show that WebSailor-32B and WebSailor-72B not only lead by a large margin among open-source models and agents, but even surpass closed-source models such as DeepSeek R1 and Grok-3, second only to the closed-source OpenAI DeepResearch. (Jiemian News)

Investment and Financing

DeepCloud AI Completes a New Round of Financing Worth Hundreds of Millions of RMB

36Kr learned that recently, DeepCloud AI announced the completion of a new round of financing worth hundreds of millions of RMB. This round of financing was jointly led by Fortune Capital and Guoxin Fund, with follow - on investments from institutions such as Beijing Robot Industry Development Investment Fund, Qianhai Mother Fund, CCTV Convergence Media Fund, Fuzhe Fund, Huaying Capital, and Wuzhong Investment. Existing shareholders continued to increase their stakes. This round of financing will provide greater impetus for DeepCloud AI in areas such as technology and product R & D, scenario application and expansion, talent recruitment and team building, and accelerate the commercialization of new products such as humanoid robots and wheel - legged robots.

"Xingdong Jiyuan" Completes Nearly 500 Million Yuan Series A Financing, with China Renaissance Continuing as the Exclusive Financial Advisor

36Kr learned that the embodied intelligence company "Xingdong Jiyuan" announced the completion of nearly 500 million yuan in Series A financing. This round of financing was co-led by CDH VGC and Haier Capital, with financial institutions and industrial capitals such as Houxue Capital, Huaying Capital, Xianghe Capital, and Fengli Intelligent participating as follow - on investors. Existing shareholders such as Qingliu Capital and Tsinghua Holdings Fund continued to increase their investment. China Renaissance continued to serve as the exclusive financial advisor for this round. The funds from this round of financing will be used for the R & D and mass - production implementation of the hardware and software technologies of humanoid robots, and to drive the high - speed operation of the closed - loop flywheel of "model - body - scenario data".

Financial Reports of Large Companies

Huayou Cobalt: Net profit in the first half of the year is expected to increase by 55.62%-67.59% year-on-year

36Kr learned that Huayou Cobalt announced that it expects to achieve a net profit attributable to the owners of the parent company of 2.6 billion yuan to 2.8 billion yuan in the first half of 2025, a year-on-year increase of 55.62% to 67.59%. The pre - increase in performance is mainly due to the continuous release of the company's industrial integration operation advantages, the recovery of cobalt prices, the company's management reform, and the in - depth promotion of cost reduction and efficiency improvement.

Guoli Co., Ltd.: Net profit in the first half of the year is expected to increase by 131% - 158% year-on-year

36Kr learned that Guoli Co., Ltd. announced that it is expected to achieve an operating income of 540 million yuan to 580 million yuan in the first half of 2025, a year-on-year increase of 61.75% to 73.73%. It is expected to achieve a net profit attributable to the owners of the parent company of 34 million yuan to 38 million yuan, a year-on-year increase of 130.91% to 158.08%. The performance growth is mainly due to the high prosperity of the new energy vehicle industry, the rapid growth of core product revenues, and the optimization of cost and expense control.

Yanjing Beer: Net profit in the first half of the year is expected to increase by 40%-50% year-on-year

36Kr learned that Yanjing Beer announced that its net profit attributable to shareholders of the listed company in the first half of 2025 is expected to be between 1.062 billion yuan and 1.137 billion yuan, a year-on-year increase of 40% to 50%. During the reporting period, the company, driven by systematic transformation, built a multi-dimensional value creation system; through in-depth implementation of the nine major reforms, it formed a synergistic effect, continuously improved management efficiency, and constantly enhanced market vitality.

Compiled | Qiuxia

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