At 9 a.m., here are the latest news: Shanghai stores respond to the news that Maserati cars are priced at 380,000 yuan; Jensen Huang jumps to the tenth place on the global rich list, only behind Warren Buffett; The preliminary investigation results of the Indian airline crash are announced: it may be due to pilot error.
Top 3 Big News
Shanghai Store Responds to the Sale of Maseratis for 388,800 Yuan: Over 10 Cars Sold in Two Days
Recently, an account named "Shanghai Pudong Maserati" posted a poster stating that the SUV model Grecale of Maserati is available at a limited - time special price starting from 388,800 yuan, and the event ends on September 30th. Official information shows that the guiding price of the Maserati Grecale is between 650,800 and 1,038,800 yuan. In comparison, the starting price offered by "Shanghai Pudong Maserati" is 262,000 yuan lower.
A journalist contacted the Shanghai Pudong Maserati store. The salesperson responded that the 388,800 - yuan event is exclusive to the store. It is a behavior of the dealer buying out and underwriting, which has nothing to do with the Maserati brand. There is only one option with a white exterior and a black interior, and the model is the 2023 Grecale. The estimated on - the - road price is about 430,000 yuan. The event has been very popular since it started, and over 10 cars have been sold in two days. This selling price is valid until this batch of vehicles is sold out. (Lanjing News)
Jensen Huang Breaks into Top 10 of Global Billionaires List, Just $1 Billion Behind Warren Buffett
On July 11th, according to data from the Bloomberg Billionaires Index, Jensen Huang, who holds about 3.5% of NVIDIA's shares, has jumped to the tenth place globally this week. As of the close of U.S. stocks on July 10th, his net worth has risen to approximately $143 billion, with a cumulative increase of over $28.7 billion since the beginning of this year. One place ahead of Jensen Huang is "Stock God" Warren Buffett, whose net worth is about $144 billion, only $1 billion higher than Huang's. Considering that Wall Street analysts are generally optimistic about the upside potential of NVIDIA, it may not be far off for Jensen Huang to surpass Warren Buffett in net worth.
Currently, the world's richest person is still Elon Musk, the CEO of Tesla, with a net worth of about $256 billion. Among the top ten on the Bloomberg Billionaires Index, except for Bernard Arnault, the chairman of LVMH Group, who is French, the rest are all Americans. If Jensen Huang surpasses Warren Buffett, it will reshape the landscape of the world's top billionaires, indicating the rise of new tech tycoons. (Caixin)
Preliminary Investigation Results of Indian Airlines Crash Announced: Pilot Error Suspected
On July 11 local time, US officials announced the preliminary assessment results of the crash of Air India Flight AI171. They stated that the cause of the accident might be related to pilot error rather than problems with the aircraft itself. The preliminary investigation found that the key switches controlling the fuel supply to the twin engines were turned off, causing the airliner to lose thrust immediately after takeoff. These switches should remain on during normal flight, but it is still unclear whether it was an accidental operation or a deliberate act.
On June 12, this Boeing 787 Dreamliner was flying from Ahmedabad, India, to London, UK. Unexpectedly, it crashed shortly after takeoff. Only one of the 242 people on board survived. In addition, the plane hit a medical school dormitory, resulting in at least 294 deaths in total. (Sanxiang City Express)
Big Companies/Big Events
NVIDIA rose more than 1% on Friday, hitting a new record high in stock price
According to a report from Cailian Press, on the evening of July 11th, NVIDIA (NVDA.US) rose more than 1% on Friday, closing at $165.94. The stock price once reached $166.6, hitting a new record high, and its total market value reached $4.06 trillion.
NVIDIA became the first company to have a market value exceeding $4 trillion at the close of a trading day. This leading enterprise in the field of artificial intelligence briefly breached this threshold during intraday trading on Wednesday but then pulled back, failing to reach a record high at the close of that day. However, it rebounded strongly on Thursday. In pre - market trading on Friday, NVIDIA's stock price changed little. NVIDIA's stock price has performed strongly this year, with a 21% increase both year - to - date and over the past 12 months. (Cailian Press, Sina Finance)
The fraud - related funds of the Bai family criminal group in northern Myanmar exceed 10.6 billion yuan
After investigation, the public security organs found that the Bai family criminal group in Kokang, northern Myanmar, with Bai Suocheng and Bai Yingcang as the primary members, is suspected of multiple crimes including fraud, intentional homicide, intentional injury, kidnapping, extortion, running illegal gambling dens, organizing people to illegally cross national (border) lines, organizing and forcing prostitution, as well as trafficking and manufacturing drugs. The crimes have led to the deaths of six Chinese citizens, more than 31,000 fraud - related cases, fraud - related funds exceeding 10.6 billion yuan, gambling - related funds exceeding 18 billion yuan, and the manufacturing and trafficking of about 11 tons of drugs. (CCTV News)
Majority shareholder of Luckin may bid for Starbucks China's equity
On July 11, several media outlets recently reported, citing sources familiar with the matter, that Starbucks has received several acquisition proposals for its China business. Most investors are aiming for controlling stakes. Starbucks is said to possibly retain 30% of the equity, while the remaining equity will be shared among multiple buyers, with each holding less than 30%. This means that Starbucks is likely to maintain control over its China business.
In addition to Hillhouse Capital, well - known international private equity firm Carlyle, and KKR, which were previously reported, Centurium Capital, the largest shareholder of Luckin Coffee, is also said to have joined the bidding group and become one of more than 30 bidders. (21st Century Business Herald)
Ye Jun, Vice President of Alibaba and Former CEO of DingTalk, is About to Leave
On July 11th, it was reported that Ye Jun (nickname: Buqiong), Vice President of Alibaba and former CEO of DingTalk, is about to leave the company. According to insiders, Buqiong has completed the approval process for his departure, but his last day has not arrived yet.
Public information shows that Buqiong joined Alibaba in 2007 and has served as the person - in - charge of multiple departments such as Alibaba Software, cross - border e - commerce, enterprise intelligence, and government DingTalk. After Chen Hang (nickname: Wuzhao), the founder of DingTalk, left to start a business in 2021, Buqiong took over as the CEO of DingTalk, becoming the second person to steer the company. After taking office, Buqiong mainly promoted the "Cloud - Ding Integration" strategy, established a government and enterprise service team, and successfully entered the large - customer market.
It is reported that at the end of March this year, Alibaba announced that it planned to acquire the investor shares of Liangqing Yiyang Company founded by Chen Hang (nickname: Wuzhao). After the transaction is completed, Chen Hang will serve as the CEO of DingTalk under Alibaba Group. Buqiong will return to Alibaba Group for other assignments. According to internal sources, during his four - year tenure, although Buqiong promoted DingTalk to achieve an annual revenue of over 3 billion yuan, AI innovation lagged behind competitors, and the completion of the strategic goal of "Cloud - Ding Integration" was also lower than expected. This is one of the most important reasons for his departure as the CEO of DingTalk. (DoNews)
The Most Expensive Handbag in Auction History Is Born: The Original Hermès Birkin Sells for 72 Million RMB
On July 10th local time, the original Hermès Birkin bag was sold at Sotheby's auction house for a record 8.58 million euros (approximately 10 million US dollars, equivalent to 72 million RMB). This black leather Hermès handbag was specially customized in 1984 by Jean-Louis Dumas, the then CEO of Hermès, for the late British singer and actress Jane Birkin. (Jiemian News)
Rare High Temperatures in Northeast China Lead to Soaring Demand for Air Conditioners, Schools in Northeast and Other Areas Urgently Purchase Air Conditioners
The incident of Northeast University students sleeping on the playground due to the heat has received a response. Harbin Engineering University recently issued a tender announcement for a student dormitory air conditioner procurement project on the China Government Procurement Network, planning to spend 18.4985 million yuan to purchase more than 7,000 air conditioners. First Financial reporters have noticed that recently, many schools in Fujian, Sichuan, Hubei, Chongqing and other places have also tendered for air conditioner procurement.
This summer, rare high temperatures in Northeast China and other areas have led to a soaring demand for air conditioners. Data from AVC shows that in the two weeks from June 23rd to 29th and from June 30th to July 6th, the offline air conditioner market sales in Heilongjiang Province increased by 817.68% and 438% year-on-year respectively, and the offline air conditioner sales in Jilin Province increased by 128.76% and 788.4% year-on-year respectively. (First Financial Daily)
STO Express Responds to High School Student Being Fired for Excessive Sweating While Unloading: Due to Safety Risks
On July 10th, Hu, a sophomore high school student from Changsha, Hunan, reported that he signed up through an intermediary to sort packages at STO Express. The wage was 200 yuan for 11 hours of work. After unloading several trucks of goods for three or four hours, he was fired on the grounds of "excessive sweating" and "slow speed," and each person only received 10 yuan for transportation fees. When asking for the wage, the voice chat record of the intermediary showed: "If you want your wages, call the police." The person - in - charge of the comprehensive management department of Hunan STO Express said that if the express delivery outlet was found to be using the STO logo and the investigation was true, it would be directly shut down.
On July 11th, the reporter contacted the staff of the involved outlet. The staff told the reporter that the involved company was not STO Express. "It was a customer of the outlet who was unloading here, and the labor for the unloading area hired outsourced workers." The labor service said that they were unaware of the age of the recruited workers, and currently they couldn't contact the intermediary either. (Sanxiang City Newspaper)
Jay Chou Posts His First Douyin Video, and the Concept Stock of MegaStar Legend Soars Over 36% at One Point
At 11:00 on July 11th, Jay Chou's Douyin account posted its first video. After Jay Chou released the video, the stock price of "Jay Chou concept stock" MegaStar Legend (6683.hk) skyrocketed, surging over 36% at one point. As of around 1:15 p.m., the increase narrowed to 18.29%, reaching HK$15.26 per share. (21st Century Business Herald)
Multiple banks have removed the elderly care loans, and bank officials responded that the relevant products have stopped being processed
Recently, multiple rural commercial banks in Hunan Province have launched "elderly care loans" specifically for purposes such as making up pension insurance payments, including Changsha Rural Commercial Bank, Huarong Rural Commercial Bank, Linli Rural Commercial Bank, Jinshi Rural Commercial Bank, Shaoyang Rural Commercial Bank, Chaling Rural Commercial Bank, etc. Although this innovation has filled the gap in elderly care security, it has also sparked heated discussions in the industry about the boundaries of finance.
On July 11, it was reported that the Hunan Rural Credit Union issued a notice on July 10, requiring rural credit cooperatives and rural commercial banks under its jurisdiction to suspend the processing of "elderly care loan" business and quickly remove relevant product promotions and videos. Customer managers of multiple banks in Hunan Province confirmed to reporters that the "elderly care loan" products have stopped being processed. The notice also stated that those who had signed contracts before July 9 would not be affected. (Cailian Press, Sina Finance, Beijing Business Daily)
L'Oréal Denies Rumors of Closing Hong Kong Office and Laying Off Employees
On July 11, in response to recent rumors that "L'Oréal plans to merge its Hong Kong office with its mainland business, resulting in the lay - off of more than 200 employees", L'Oréal China denied the rumors, stating that the reports were untrue. L'Oréal said that to adapt to the ever - changing market environment and consumer needs, the group will continuously evaluate and optimize its organizational structure in global and local markets to ensure it keeps pace with the times. (Beijing Business Today)
Nestle's Offices in France Raided
Nestle, a Swiss-based company, said on July 10 that French authorities were raiding its offices in France. According to media reports, the investigation was triggered by a food monitoring agency's claim that Nestle's drinking water used an illegal filtration system to cover up bacterial and pesticide contamination issues. According to Radio France Internationale, the raid on Nestle's offices in France was carried out by the French General Directorate for Competition, Consumer Affairs and Fraud Control. The agency has not responded to the matter yet. A Nestle spokesperson said, "We will continue to fully cooperate with the French authorities as always."
On May 19, the French Senate's investigative committee released an investigation report on the scandal of Perrier mineral water products, showing that Nestle had drinking water safety issues. (Xinhua News Agency)
LeTV.com has a new piece of information as a person subject to enforcement, with an enforcement target of over 10.07 million yuan
36Kr learned that the AiQicha App shows that recently, LeTV.com Information Technology (Beijing) Co., Ltd. has a new piece of information as a person subject to enforcement, with an enforcement target of over 10.07 million yuan. The enforcement court is the Intermediate People's Court of Hangzhou City, Zhejiang Province. The company was established in November 2004, with Liu Yanfeng as the legal representative. Its registered capital is approximately 3.99 billion yuan. Its business scope includes software development, computer system services, wholesale of computer software, hardware and auxiliary equipment, etc. It is jointly held by Jia Yueting, Liu Hong and others. The risk information shows that the company currently has multiple pieces of information on restrictions on high - consumption, being a dishonest person subject to enforcement (a "deadbeat") and equity freezing.
Midea Group Establishes E-commerce Company in Zhongshan, Involving AI and Robotics Business
36Kr learned that according to the Aiqicha App, recently, Midea (Zhongshan) E-commerce Co., Ltd. was established. The legal representative is Zhu Chuicai, and the registered capital is 10 million yuan. Its business scope includes the sales of intelligent robots, intelligent unmanned aerial vehicles, semiconductor lighting devices, artificial intelligence hardware, etc. The equity penetration chart shows that the company is indirectly wholly-owned by Midea Group Co., Ltd.
YouTube to Remove the 10-Year-Old "Trending" Page and Focus More on Personalized Recommendations
On July 11th, YouTube announced that it will remove the "Trending" page and the "Current Trends" list launched in 2015, and instead introduce rankings divided by content categories. YouTube said in a blog post, "In addition to the rankings, we will continue to recommend videos that users may be interested in through personalized recommendations. This can present a richer and more diverse range of trending content, which is also more in line with users' daily browsing habits." Users can still view non-personalized content through the "Explore" menu, creator channels, or subscription pages. (IT Home)
WeChat employees respond to concerns about space occupied by photo comments in Moments: Can be cleared at any time and retrieved from the cloud
On July 11th, it was reported that WeChat has recently been testing the function of adding photos to comments in Moments. Some netizens are worried that the cached photos in the comment section will take up space. In response, WeChat employees said that the photo comments in Moments are renewable data. This data can be cleared at any time and retrieved from the cloud whenever needed. (IT Home)
The forefront of AI
Google to Offer Discounted Cloud Computing Services to the US Government
The Financial Times reported on July 11, citing a senior official from the US General Services Administration (GSA), that Google will provide cloud computing services to the US government, and the deal could be finalized within a few weeks. (Sina Finance)
The cooperation announcement between Manus and Tongyi Qianwen is no longer visible, and the social media accounts have been cleared
Since the launch of "the world's first general-purpose Agent" Manus in March this year, which became an overnight sensation, this product and its parent company, Butterfly Effect, have been in the spotlight. This week, there are further developments regarding Manus. Several employees have confirmed to Blue Whale reporters that the company will relocate its headquarters to Singapore and make large-scale adjustments to its domestic team.
A former Manus employee affected by this adjustment told Blue Whale reporters that, as they understood at the time, Manus may no longer have domestic offices or maintain a domestic business team in the future, and will relocate everything to the new headquarters in Singapore.
Regarding the cooperation between Manus and Alibaba's Tongyi Qianwen to develop a Chinese version, the employee said that "it will not continue." Blue Whale reporters checked Manus' official Weibo and Xiaohongshu accounts and found that the announcement on March 11 officially declaring a strategic cooperation with the Tongyi Qianwen team is no longer visible, except for the one on the WeChat video account. When accessing the Manus official website through domestic browsers, it no longer shows "The Chinese version of Manus is under development," but rather "Manus is not available in your region." In addition, the content on Manus' official Weibo and Xiaohongshu accounts has been cleared. (Sina Tech)
Musk Says Grok Will Be Applied to Tesla Soon, at the Latest Next Week
It is reported that Elon Musk posted on the X platform on July 10 local time, saying, "Grok will be applied to Tesla cars soon. At the latest next week." It is reported that xAI launched the latest version of its flagship artificial intelligence (AI) model, Grok 4, on July 9 local time. It is understood that Grok will compete with AI models such as ChatGPT from OpenAI, which is supported by Microsoft, and Google's Gemini. These models can analyze images and answer questions. (ZARKER Technology)
Zhou Hongyi Says We Need to Be Vigilant Against Agent Hackers in the AI Era
On July 11th, at the 2025 Shanghai Cooperation Organization Digital Economy Forum, Zhou Hongyi, the founder of 360 Group, said in his speech that in the past, high - level hackers were hard to come by. Now, hacker organizations can train the experience and abilities of hackers into large models to create "agent hackers". In the future, a human hacker may be able to manipulate dozens or even hundreds of agent hackers to launch attacks and become a "super hacker". The traditional "human - to - human" network attack - defense confrontation will also evolve into a "human - to - machine" confrontation, further intensifying the asymmetry of network attack - defense. (Yicai Technology)
Financial Reports of Big Companies
360: Expected net loss of 240 million yuan - 320 million yuan in the first half of the year
36Kr learned that 360 announced that it expects a net loss of 240 million yuan - 320 million yuan in the first half of the year, compared with a loss of 341 million yuan in the same period last year. During the reporting period, the main reason for the company's pre - announced loss is that the company increased its sales expenses to strengthen product promotion and expand market influence.
Japanese restaurant chain Saizeriya's net profit hits a record high in the first three fiscal quarters
Recently, the financial report of Japanese Saizeriya for the first three quarters of fiscal year 2025 (from September 2024 to May 2025) showed that the sales revenue in the first three quarters reached 188.339 billion yen, a year-on-year increase of 15.4%. The growth rate in the same period of the previous year was 23.6%. The net profit attributable to the parent company was 7.784 billion yen, a year-on-year increase of more than 50%. The growth rate in the same period of the previous year was more than 90%. The operating profit reached 10.608 billion yen, a year-on-year increase of 5.4%. The growth rate in the same period of the previous year was more than 2.8 times. Saizeriya's net profit data for the first three quarters exceeded the market's previous expectation of 7.1 billion yen, hitting a record high for this period. (The Paper)
Xiangpiaopiao: Expected to Report a Net Loss of Approximately 97.39 Million Yuan Attributable to the Parent Company in the First Half of the Year
36Kr learned that Xiangpiaopiao announced that it expects its operating revenue in the first half of 2025 to be around 1.035 billion yuan, a decrease of approximately 144 million yuan compared with the same period of the previous year, representing a year-on-year decline of about 12.21%. It is estimated that the net profit attributable to the parent company in the first half of the year will result in a loss of around 97.39 million yuan, compared with a loss of 29.5011 million yuan in the same period of the previous year.
Donpeng Beverage: Net profit in the first half of the year is expected to increase by 33%-42% year-on-year
36Kr learned that Donpeng Beverage released its performance forecast for the first half of 2025. It is estimated that the net profit attributable to the owners of the parent company will be between 2.31 billion yuan and 2.45 billion yuan, a year-on-year increase of 33.48% to 41.57%. During the reporting period, the company continued to promote its nationalization strategy, strengthened channel operation capabilities and cold chain construction, increased product exposure, and boosted terminal sales. At the same time, it consolidated the foundation of its flagship product, Dongpeng Special Drink, expanded its multi-category business, and cultivated new growth points, driving a year-on-year increase in operating revenue of 35.01% to 37.68%.
Cool Products
iPhone 17 Pro Mockup Exposed: Horizontal Large Camera Matrix, Rear Apple Logo Moved Down
Source MajinBuOfficial posted a tweet on the X platform on July 10, sharing hands - on photos of the Apple iPhone 17 Pro mockup. According to the exposed mockup photos, the back of the Apple iPhone 17 Pro features a "horizontal large matrix" design. There is a rounded rectangular area at the top, with three protruding cameras on the left inside, similar in position to the iPhone 16 Pro. On the right, there are related components such as a flash and a lidar. (IT Home)
Investment and Financing
"Yingmu Technology" Announces Completion of Over 150 Million Yuan in Series B2 Financing
36Kr learned that "Yingmu Technology" announced the completion of over 150 million yuan in Series B2 financing, jointly invested by Puhua Capital, Liangxi Industrial Development Group, and Shenqi Capital. The funds from this round will be used for the research and development of next-generation products, the construction of core AI capabilities, the deepening of the supply chain, and the expansion of offline scenarios, further consolidating Yingmu's technological advantages and ecological layout in the AI + AR terminal track.
Compiled | Xiaoguo