Krypton Evening News | Ubtech completed a placement of $315 million, setting a record for the largest placement financing in the humanoid robot field; The 1,000th Megapack energy storage system rolled off the production line at Tesla's Shanghai Energy Storage Superfactory.
Large Companies:
36Kr learned that on July 29, the 2025 Fortune Global 500 list was released. Xiaomi Group ranked 297th, making it onto the list for the seventh consecutive year. Its ranking rose by 100 places compared to the previous year, marking the largest increase since it first made the list in 2019. It is understood that in the past five years, Xiaomi has invested over 102 billion yuan in research and development. Lei Jun said that in the next five years (2026 - 2030), Xiaomi will invest an additional 200 billion yuan in core technology research and development.
36Kr learned that recently, Standard Chartered Group and Alibaba Group officially signed a strategic cooperation memorandum. The two sides will work together, relying on Alibaba Cloud's artificial intelligence technology to accelerate the in - depth integration of financial services and artificial intelligence technology.
China Chang'an Automobile Group Co., Ltd. Inaugurated in Chongqing
On July 29, China Chang'an Automobile Group Co., Ltd. was inaugurated in Chongqing. This new central state - owned enterprise was established through the spin - off of the former China South Industries Group and has 117 subsidiaries. Its main business includes automobile vehicles and parts, automobile sales, financial and logistics services, motorcycles, etc. The person in charge of China Chang'an Automobile Group said that in the future, the new central state - owned enterprise will focus on building new - quality productive forces such as intelligent car robots, flying cars, and embodied intelligence, explore a new ecological system for three - dimensional travel on land, sea, and air, and accelerate globalization, and expand into the five major regional markets of Southeast Asia, the Middle East and Africa, Central and South America, Eurasia, and Europe.
36Kr learned that on July 29, Tesla announced that the 1000th Megapack energy storage system produced at its Shanghai energy storage gigafactory officially rolled off the production line and will be shipped to Europe.
36Kr learned that according to the Aiqicha App, recently, Huangshi Global Low - altitude Economy Development Co., Ltd. was established. Its legal representative is Li Fei, and its registered capital is 1 billion yuan. Its business scope includes public air transportation, general aviation services, releasing unmanned balloons and tethered balloons, flight training, air cargo packing services, intelligent unmanned aerial vehicle manufacturing, etc. Shareholder information shows that the company is wholly - owned by Huangshi Industrial Investment Holding Group Co., Ltd.
Wang Xiaohang, Former Vice President of Ant Group, Appointed CTO of Ping An Insurance
Today, Ping An Insurance announced that it has appointed Wang Xiaohang as the Group's Chief Technology Officer (CTO) and General Manager of Ping An Technology. Wang Xiaohang joined Ant Group in 2016 and has held positions such as Vice President of Ant Group and CTO of the Wealth and Insurance Business Group, leading digital finance and AI innovation. In 2015, he served as the Chief Architect of Baidu, promoting the development of Baidu Wallet and financial services. He has also held senior technical management positions in international well - known companies such as Google (USA) and Bloomberg Group. (Securities Times)
On July 29, Apple's China official website announced that the Apple Store at Dalian Bai Nian Cheng will close on August 9, which is the first direct - operated Apple store to close in China. Apple said in a statement: "Given the departure of many retailers in the Dalian Bai Nian Cheng shopping mall, we have decided to close our retail store there on August 9." From the statement, Apple's decision seems to be more due to changes in the external business environment. According to an informed source, "The Dalian Bai Nian Cheng shopping mall has been involved in litigation since 2022. By February this year, the major shareholder has fully taken control of leasing and operation. Several well - known retailers in the shopping mall, including Coach, Kenzo, MCM, UGG, etc., closed their stores when their leases expired." (Meijing.com)
LVMH Considers Selling Its Fashion Brand Marc Jacobs
According to informed sources, French luxury giant LVMH Group is planning to sell its fashion brand Marc Jacobs to cope with the decline in demand. Two informed sources said that the Paris - based corporate group has approached potential buyers, including Authentic Brands, the owner of Reebok, to discuss the sale of the Marc Jacobs brand. The informed sources said that the negotiations are still ongoing, and there is no guarantee that an agreement will be reached. (Sina Finance)
36Kr learned that recently, CNPC Capital said during an institutional research that the company is currently not involved in stablecoin - related business. The company has noticed that some investors are highly concerned about stablecoin business. To address investors' concerns, the company is organizing research on relevant policies in this field.
Investment and Financing:
The management of South Korean artificial intelligence chip startup Rebellions revealed on Tuesday that the company has received investment from technology giant Samsung and is currently planning to complete a round of financing of up to $200 million before going public. Rebellions' latest valuation is $1 billion. Chief Financial Officer Shin said that this round of financing will push its valuation above $1 billion but declined to provide a specific figure. Rebellions plans to conduct an IPO after this round of financing. (Sina Finance)
Guangya Hongdao Receives a Strategic Investment of 280 Million Yuan from Kunlun Beigong
36Kr learned that according to the official WeChat account of Dongtu Technology, Guangya Hongdao, a subsidiary of Dongtu Technology, announced that it has received a strategic investment of 280 million yuan. The investor is Kunlun Beigong (Beijing) Green Venture Capital Fund (Limited Partnership) with a central state - owned enterprise background. This round of financing will comprehensively accelerate the ecological construction and market expansion of the Hongdao® operating system (Intewell®) in key fields such as petroleum and petrochemical, domestic integrated circuits, and intelligent equipment.
New Products:
Analyst Guo Mingji said that Tesla is expected to mass - produce the AI6 chip in 2027, using Samsung's 2 - nanometer (SF2) advanced process. The current yield rate of SF2 is 40 - 50%, lower than over 70% of TSMC's N2 process and 50 - 55% of Intel's 18A. SF2 uses the GAA (Gate - All - Around Transistor) technology of SF3, which is beneficial for mass production, but it is still difficult to predict if the AI6 chip using the SF2 process can be mass - produced on schedule. (Caixin)
On July 28, Ubtech released an announcement that the placement was completed. A total of 30,155,450 shares were placed, raising a total of HK$2.41 billion (approximately $315 million). More than HK$1 billion of the funds raised from this placement will be used to pay suppliers and service providers. It is understood that the total amount of funds raised by Ubtech from this placement exceeds the sum of the amounts from the previous four placements, becoming the largest placement financing of a humanoid robot listed company in the capital market history and receiving enthusiastic pursuit from sovereign wealth funds, important industrial capitals, long - term funds, and multi - strategy funds. This placement is considered to provide strong financial support for the subsequent large - scale delivery of humanoid robots and the rapid expansion of production capacity. At the same time, JPMorgan Chase upgraded Ubtech's H - shares rating to "Overweight" with a target price of HK$135.
Today's Views:
Ministry of Foreign Affairs Responds to China - US Economic and Trade Talks in Sweden
Today, Ministry of Foreign Affairs Spokesperson Guo Jiakun hosted a regular press conference. When answering questions about the China - US economic and trade talks held in Sweden, Guo Jiakun said that the China - US economic and trade talks in Sweden are still ongoing, and you can keep an eye on them. (CCTV News)
Tesla Co - founder Dissatisfied with Musk's Cancellation of Affordable Car Project
Tesla co - founder Martin Eberhard recently said that he was disappointed with Elon Musk's decision to cancel the $25,000 electric car project and instead launch the Cybertruck. Eberhard said in an interview on Sunday: "I'm really disappointed to see Tesla cancel the low - end car project because that's what the world needs." He also criticized the company's decision to launch the Cybertruck, saying that the electric pickup truck looks "like a trash can." (Sina Finance)
Liu Jingkang, Founder of Insta360, Responds to Entering the Drone Market
36Kr learned that on the evening of July 28, Insta360 announced its entry into the drone market and will launch the world's first panoramic drone. Liu Jingkang, the founder of Insta360, posted on his WeChat Moments today that the reasons for the company to enter the drone market include a large number of unmet customer needs, an opportunity to create market growth, and the business will drive the company's growth. Liu Jingkang also mentioned that the decision to enter the drone market was made five years ago.
Other Noteworthy News:
36Kr learned that the Ministry of Finance released the "Economic Operation of National State - owned and State - holding Enterprises from January to June 2025." From January to June, the total operating revenue of state - owned enterprises was 4,074.959 billion yuan, a year - on - year decrease of 0.2%. From January to June, the total profit of state - owned enterprises was 218.253 billion yuan, a year - on - year decrease of 3.1%. From January to June, the taxes payable by state - owned enterprises were 300.264 billion yuan, a year - on - year decrease of 0.8%. At the end of June, the asset - liability ratio of state - owned enterprises was 65.2%, a year - on - year increase of 0.3 percentage points.
The Number of Foreign Tourists to Thailand Has Decreased by 6.18% Year - on - Year So Far This Year
Thailand's Tourism Ministry said on Tuesday that from January 1 to July 27 this year, the number of foreign tourists to Thailand decreased by 6.18% compared to the same period last year. During this period, about 18.98 million foreign tourists visited Thailand. China is the largest source market, with 2.64 million tourists. Last month, the Bank of Thailand lowered its forecast for the number of foreign tourists this year from 37.5 million to 35 million. In 2019 before the pandemic, Thailand set a record of nearly 40 million foreign tourists. (Sina Finance)