8:00 am Update | Air China, China Southern Airlines, and China Eastern Airlines Support Ticket Purchases on the "Civil Aviation Version of 12306" Direct Sales Platform; Shaolin Temple Announces the Appointment of a New Abbot; Stocks of Three-child Concept Companies Soar Collectively
Going Public Process
Authentic Products Holdings Limited
36Kr learned that on July 29, documents from the Hong Kong Stock Exchange showed that Authentic Products Holdings Limited submitted a listing application to the Hong Kong Stock Exchange, with Hongbo Capital Limited as the sole sponsor.
Top 3 Big News
Air China, China Southern Airlines, and China Eastern Airlines Support Ticket Purchases on the "Civil Aviation Version of 12306" Direct Sales Platform
On the evening of July 28th, the three major domestic airlines in China, Air China, China Southern Airlines, and China Eastern Airlines, respectively issued announcements to passengers, stating that they all support ticket purchases on the "civil aviation version of 12306" direct sales platform to ensure the rights and interests of passengers. The three major airlines said that they have all launched direct ticket sales services on the Umetrip platform. Currently, all domestic tickets sold on Umetrip come directly from airlines. The prices are open and transparent, there is no bundled sales, the rules are the same as those of the airlines, there is no big - data price discrimination, information security is guaranteed, and the amount on the itinerary receipt is consistent with the payment amount.
Previously, it was reported that, different from OTAs such as Ctrip and Qunar, the air tickets sold on Umetrip do not come from numerous ticket agents, but from the direct - sales ticket resources of domestic airlines. All ticket products are directly released and operated by each airline. The Umetrip platform is responsible for displaying them and does not charge the airlines agency fees. (CCTV Finance, Yicai)
Shaolin Temple Officially Announces: Abbot Yinle Assumes the Position of Abbot of Shaolin Temple
On July 29th, the management office of Shaolin Temple stated that in accordance with the "Measures for the Appointment of Abbots in Han - Chinese Buddhist Temples", after a democratic review and approval by the two assemblies of Shaolin Temple and the completion of relevant procedures, Master Yinle has been invited to assume the position of abbot of Shaolin Temple. (CCTV News)
The implementation plan of the national child - rearing subsidy system is announced, and stocks related to the third - child concept soar collectively
On July 29th, the third - child concept sector opened higher collectively. Shares of Beingmate, Sunshine Dairy, Foci Pharmaceutical, Nuobang Co., Ltd., and Mothercare hit the daily limit. Shares of Knight Dairy rose more than 15%. Shares of Western Animal Husbandry, Taihu Snow, and Kidswant rose more than 10%.
According to the news, on July 28th, the implementation plan of the national child - rearing subsidy system was announced. Starting from January 1st, 2025, families with one, two, or three children can receive an annual subsidy of 3,600 yuan until the child reaches the age of three. (Xiangjiang Morning Post)
Large companies/Key events
A 7.9-magnitude earthquake struck the far - offshore area off the east coast of Kamchatka
On July 30th, the China Earthquake Networks Center officially determined that at 07:24 on July 30th, a 7.9-magnitude earthquake occurred in the far - offshore area off the east coast of Kamchatka (52.40°N, 160.20°E), with a focal depth of 10 kilometers. According to the preliminary earthquake parameters, the Tsunami Warning Center of the Ministry of Natural Resources judged that the earthquake might trigger a regional tsunami within a few hundred kilometers around the epicenter, but it would not cause any disastrous impact on the Chinese coast.
At 08:37 local time on July 30th, the Japan Meteorological Agency issued a message saying that currently, the coasts of many places in Japan are under a tsunami warning. It is predicted that waves up to 1 meter high may appear in some areas. The Japan Meteorological Agency reminded coastal residents to pay attention to safety and stay away from the coast. (JIN10 Data)
Insta360 Founder Liu Jingkang Responds to Entering the Drone Market
36Kr learned that on the evening of July 28th, 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 on July 29th, stating 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 fact that this business will drive the company's growth. Liu Jingkang also mentioned that the decision to enter the drone market was made five years ago.
Douyin Integrates Instant Retail Business, Merges Douyin Supermarket into Hourly Delivery Service
36Kr exclusively learned that Douyin Supermarket will be merged into Douyin's Hourly Delivery service to improve the efficiency of the instant retail business. It is understood that the Hourly Delivery service usually refers to the service where customers can receive the purchased products within one hour after placing an order on the platform. The product categories include fresh produce, daily necessities, digital products, etc.
The three major U.S. stock indexes closed down collectively, and most large technology stocks declined
36Kr learned that at the close on July 29, the three major U.S. stock indexes fell collectively. The Dow Jones Industrial Average dropped 0.42%, the Nasdaq Composite declined 0.38%, and the S&P 500 Index decreased 0.28%. Most large technology stocks fell. Meta dropped more than 2%, and Intel, Apple, and Tesla declined more than 1%. Amazon and Netflix rose slightly; Google rose more than 1%, and Microsoft rose slightly. Most popular Chinese concept stocks fell. Li Auto dropped more than 6%, JD.com declined more than 3%, and Baidu, XPeng Motors, NIO, Alibaba, and iQiyi dropped more than 2%. Bilibili and Pinduoduo declined more than 1%.
IMF: Significantly Raises Forecast for China's Economic Growth Rate This Year by 0.8 Percentage Points; Global Economy Remains Resilient but Outlook Is Fragile
The International Monetary Fund (IMF) released its latest "World Economic Outlook," forecasting that the global economic growth rates for this year and next will be 3.0% and 3.1% respectively, an increase of 0.2 and 0.1 percentage points compared to the April forecast. Pierre-Olivier Gourinchas, the IMF's Chief Economist, said that the trade situation still dominates the global economic outlook. Although there have been some welcome developments in trade negotiations, which have supported the resilience of the global economy, the overall tariff level remains at a historically high level, and the global policy environment is still highly uncertain. The IMF has significantly raised its forecast for China's economic growth rate this year by 0.8 percentage points to 4.8%, reflecting stronger-than-expected economic activity in China in the first half of this year and significantly lower actual Sino-US tariff rates than the April forecast. (Yicai Global)
A Central Enterprise in Shenzhen Exposed That Many Employees' Funds Are Tied Up
The event of real - estate company employees' co - investment has once again attracted public attention. Laid - off employees of OCT claim that they can't get their principal back. Recently, former employees of OCT Group told reporters from Nandu Bay Financial News that under the "mandatory" co - investment system implemented by the enterprise, a large amount of employees' funds have been involved in real - estate projects. Now, due to project suspension and non - positive cash flow, it's difficult to get the funds back. In particular, the substantial co - investment principal of some laid - off employees is tied up.
In response to the problems such as the inability to recover the co - investment principal reported by former employees, OCT stated in an interview with reporters that co - investment is essentially an investment behavior, which can result in both profits and losses. Whether the co - investors are still employed or have left the company, when the project makes a profit, dividends will be distributed according to the relevant co - investment agreements and systems; when the project incurs losses, risks need to be shared jointly. (Nandu Bay Financial News)
Accountant Embezzled 2.94 Million and Gained 1,600, Sentenced to 2 Years in Prison after Retirement
It is reported that taking advantage of the convenience of collecting the New Rural Cooperative Medical Scheme funds, Gao, an accountant at a school (a hospital in Yancheng District) in Luohe City, Henan Province, embezzled more than 2.94 million yuan of public funds to buy wealth management products for profit. After the case was discovered, his family members returned the profit of 1,694.05 yuan he made during the period of embezzling public funds.
On July 29th, a reporter from Red Star News learned from the China Judgments Online that the People's Court of Yancheng District, Luohe City, made a first - instance judgment last month. Gao was found guilty of embezzling public funds and sentenced to 2 years in prison, with a 2 - year suspension of the sentence. By then, Gao had been retired for nearly 8 years. Now 68 - year - old Gao is from Yancheng District. The judgment revealed that he retired in August 2017. In May last year, he was placed under detention measures by the Supervision Commission of Yancheng District on suspicion of embezzling public funds, and was later released on bail pending trial by the People's Procuratorate and the court of Yancheng District successively. (Red Star News)
China-US Economic and Trade Talks Held in Stockholm, Sweden
From July 28th to 29th local time, He Lifeng, the Chinese lead for China-US economic and trade issues and Vice Premier of the State Council, held China-US economic and trade talks in Stockholm, Sweden with Janet Yellen (assuming a fictional name replacement here as the names in the text seem fictional, and in reality, it's usually Janet Yellen as the US Treasury Secretary), the US lead and US Treasury Secretary, and Greer, the US Trade Representative. The two sides conducted candid, in-depth and constructive exchanges on economic and trade issues of common concern such as China-US economic and trade relations and macroeconomic policies, and reviewed and affirmed the implementation of the consensus reached at the China-US economic and trade talks in Geneva and the London framework. According to the consensus reached at the talks, the two sides will continue to promote the 90 - day extension of the suspended 24% of the US reciprocal tariffs and China's countermeasures as scheduled. (CCTV News)
Mobile phone number ending with 4568888 was successfully auctioned for 272,000 yuan
Recently, a mobile phone number ending with "4568888" was auctioned on the Ali Assets Judicial Platform, and the final transaction price was 272,000 yuan. The number belongs to Heihe City, Heilongjiang Province, and the operator is China Telecom. The mobile phone number package is the 5G Enjoy Package at 199 yuan per month. If someone successfully bids for the mobile phone number, they need to go to the place of registration to handle the transfer procedures.
The starting price of this auction was 100,000 yuan, and the price increase was 2,000 yuan. A total of 22 people signed up. After several rounds of bidding, the buyer with the bidder number "O8944" won the mobile phone number at a price of 272,000 yuan. (Red Star Capital Bureau)
2025 Fortune Global 500 List Unveiled: 130 Chinese Companies Make the Cut
On July 29, the 2025 Fortune Global 500 list was officially released. Among the companies on the list, the total revenue of the 130 Chinese companies in 2024 was approximately $10.7 trillion. Compared with the 133 Chinese companies on the list last year, the total revenue decreased by about 3%. The average sales revenue was approximately $82 billion, lower than the average revenue of the listed US companies, which was $105.8 billion, and slightly lower than the average of all 500 companies on the list.
The average profit of US companies was approximately $9.7 billion, while the average profit of the listed companies from the Chinese mainland (including Hong Kong) was $4.2 billion, nearly half of that of the listed US companies. The average profit of all 500 companies on the list was $5.95 billion. The total profit of the 138 US companies reached as high as $1.3374 trillion, accounting for 45% of the total profit of the Fortune Global 500. (Fortune China)
Apple Responds to Closing Its First Direct Store in China: Many Retailers in the Shopping Mall Have Left
On July 29, Apple's official website in China showed that the Apple Store in Dalian Parkson Shopping Center will stop operating at 20:00 on August 9 this year. The company responded in a statement, "In view of the departure of many retailers in Dalian Parkson Shopping Center, we have decided to close our retail store there on August 9." From the statement, it seems that Apple's decision this time is more due to the changes in the external business environment. Another source with knowledge of the matter revealed, "Dalian Parkson Shopping Center has been involved in litigation since 2022. By February this year, the major shareholder had fully taken control of leasing and operation matters. Several well - known retailers in the shopping mall, including Coach, Kenzo, MCM, UGG, etc., closed their stores when their leases expired." (Jiemian News)
NIO Case Announcement: Prosecuting Multiple Internet Accounts for Malicious Rumormongering
On July 29th, NIO's legal department released the "Progress Report on the Case of Online Malicious Rumormongering and Cyber Trolls."
NIO stated that when the LeDao L90 under its brand was launched and delivered, a large amount of fabricated information online had caused great damage to the reputations of NIO, the LeDao brand, and relevant employees. In response, they will take legal measures including filing lawsuits against the accounts that maliciously spread rumors and hold them legally accountable. (IT Home)
NVIDIA's market value surpasses $4.3 trillion
On July 28th, Eastern Time, the three major U.S. stock indexes showed mixed performance. The S&P 500 Index and the Nasdaq Index both rose, hitting new all-time highs.
Most large technology stocks rose. Apple rose 0.07%, Amazon rose 0.59%, Meta rose 0.71%, NVIDIA rose 1.88%, and Tesla rose 3.00%. Meanwhile, Google fell 0.34% and Microsoft fell 0.23%.
NVIDIA hit a new all-time high, with its market value surpassing $4.3 trillion. (China Fund News)
Novo Nordisk's U.S. stocks tumbled more than 19% in pre - market trading
36Kr learned that Novo Nordisk's U.S. stocks tumbled more than 19% in pre - market trading, heading towards the lowest level since May 2022. The company had previously downgraded its 2025 outlook.
Thailand's foreign tourist arrivals have dropped 6.18% year-on-year so far this year
Thailand's Tourism Ministry recently stated that from January 1st to July 27th this year, the number of foreign tourists in Thailand decreased by 6.18% compared with the same period last year. During this period, approximately 18.98 million foreign tourists visited Thailand. China is the largest source market, with 2.64 million tourists. Last month, the Bank of Thailand revised down 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 historical record of nearly 40 million foreign tourist arrivals. (Sina Finance)
Sunward Intelligent: Current business operations are normal, and there are no major matters that should be disclosed but have not been disclosed.
Sunward Intelligent released an announcement on July 29th. The cumulative deviation of the closing price increase of its shares for two consecutive trading days on July 28th, 2025, and July 29th, 2025, exceeded 20%. According to the relevant provisions of the "Shenzhen Stock Exchange Trading Rules", this is a situation of abnormal fluctuations in stock trading. After verification, the company's current business operations are normal. There have been no significant changes in the company's recent business operations and internal and external business environment, and no significant changes are expected to occur. There are no major matters that should be disclosed but have not been disclosed recently. (Jiemian News)
Anche Testing: The controlling shareholder is planning the change of the company's control rights, and the stock is suspended
36Kr learned that Anche Testing issued an announcement. The company received a notice from its controlling shareholder and actual controller, He Xianning, today. He is planning matters related to equity transfer and change of control rights, which may lead to changes in the company's controlling shareholder and actual controller. The company's stock will be suspended from trading starting from the opening of the market on the morning of July 30 (Wednesday), and the suspension period is expected to be no more than 2 trading days.
Huawei Recently Announced Multiple Patents Related to Terminal Devices
36Kr learned that the Aiqicha App shows that recently, Huawei Technologies Co., Ltd. announced invention patents related to terminal devices, such as "Interface Circuit, Protection Method for Interface Circuit, and Terminal Device", "Test Method, System, Chart Card, and Terminal Device for Terminal Camera Clarity", and "A Meeting Collaboration Method, Device, and Terminal Device". The company also applied to register multiple trademarks, including "Rizhao Jinshan", "Xiangjie", and "Yuedong Sanhuan, Good Performance All the Time". The international classifications involve scientific instruments, means of transport, medical devices, etc. Currently, the status of the above trademarks is pending substantive examination.
Tesla co-founder expresses dissatisfaction 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 vehicle plan and instead launch the Cybertruck. Eberhard said in an interview last 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 release the Cybertruck, saying the electric pickup truck looks "like a dumpster." (Sina Finance)
Hang Seng Electronics Responds to Rumors of Cooperation with Ant Digital Technology
The stock price of Hang Seng Electronics has skyrocketed. After 10 a.m. on July 29, its stock price soared and hit the daily limit, driving up financial technology stocks such as Fortune Trend and SDIC Smart Technology. The market movement may be related to the rumor that "Hang Seng Electronics is collaborating with Ant Digital Technology on stablecoins." In response, a staff member from the Investor Relations Department of Hang Seng Electronics stated that the company has noticed the relevant market rumors, and the daily limit of the stock price on that day may be related to these rumors. However, the Investor Relations Department is currently unable to confirm whether the company has reached a cooperation agreement with Ant Digital Technology. The company is indeed actively deploying virtual assets such as stablecoins and overseas business, and has had preliminary communication with companies like Ant Digital Technology. But "the confirmation of relevant cooperation still needs to be based on official announcements." (21st Century Business Herald)
Henrui Medicine Signs a Major Deal with a British Giant to Jointly Develop Up to 12 Innovative Drugs
On July 28th, Henrui Medicine reached a cooperation agreement with GlaxoSmithKline (GSK) to jointly develop up to 12 innovative drugs. GSK will pay a down payment of $500 million and may pay milestone payments of up to $12 billion. Affected by this news, the A - shares of Henrui Medicine hit the daily limit, and its market value returned to 400 billion yuan. The key drug in this cooperation, HRS - 9821, is a PDE3/4 inhibitor targeting chronic obstructive pulmonary disease. This cooperation shows the rise of domestic innovation. Multinational pharmaceutical companies are increasingly inclined to cooperate with domestic pharmaceutical companies at an earlier stage, and China is gradually becoming a global R & D center for innovative drugs. (Daily Economic News)
Cyberspace Administration of China Launches a Two - month Special Campaign Nationwide to "Rectify False Information Published by 'Self - media'"
To continuously and thoroughly rectify the chaos of false information published by "self - media" and further standardize the information publishing behavior of "self - media", in accordance with the overall arrangement of the "Clear and Bright" series of special campaigns in 2025, the Cyberspace Administration of China has decided to launch a two - month special campaign nationwide to "rectify false information published by 'self - media'" starting from July 24. (Jiemian News)
Warner Bros. Discovery Announces Names of Two Entities After Business Spin-Off
On July 28 local time, Warner Bros. Discovery announced the names of the entities and the executive appointment plan after the business spin-off in mid-2026. Among them, the "Streaming and Studios" business will continue to use the "Warner Bros." brand, and the team will be led by David Zaslav, the current President and CEO of Warner Bros. Discovery, who will continue to serve as President and CEO. The "Global Television Networks" business will be named "Discovery Global", and the team will be led by Gunnar Wiedenfels, the current Chief Financial Officer of Warner Bros. Discovery, who will serve as President and CEO. (Jiemian News)
Ministry of Finance: From January to June, the total operating revenue of national state-owned and state-holding enterprises decreased by 0.2% year-on-year
On July 29, the Ministry of Finance released the economic operation situation of national state-owned and state-holding enterprises from January to June 2025.
From January to June, the total operating revenue of national state-owned and state-holding enterprises (hereinafter referred to as state-owned enterprises) decreased by 0.2% year-on-year, and the total profit decreased by 3.1% year-on-year. From January to June, the total operating revenue of state-owned enterprises reached 4,074.959 trillion yuan, a year-on-year decrease of 0.2%; the total profit of state-owned enterprises was 218.253 trillion yuan, a year-on-year decrease of 3.1%; the taxes payable by state-owned enterprises were 300.264 trillion 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. (Jiemian News)
The Cutting-Edge of AI
South Korean AI chip startup Rebellions says it has received financing from Samsung and plans an IPO after this round of financing
On July 29, the management of South Korean artificial intelligence chip startup Rebellions revealed that the company has received an 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 over $1 billion but declined to provide a specific figure. Rebellions plans to conduct an IPO after this round of financing. (Sina Finance)
SenseTime Releases the Rixin V6.5 Multimodal Large Model
36Kr learned that on July 27th, at the "Boundless Love, Shaping the Future" Large Model Forum of the 2025 World Artificial Intelligence Conference (WAIC), SenseTime released the Rixin V6.5 multimodal large model. It also joined hands with more than a dozen domestic ecological partners, including Huawei, Kupas, Hygon, Cambricon, Sunrise, Biren Technology, Kylin Software, and Moore Threads, to jointly launch the "SenseTime Large Computing Power Mall".
Standard Chartered Group Reaches Strategic Cooperation with Alibaba, Focusing on the Integration of AI and Finance
36Kr learned that recently, Standard Chartered Group and Alibaba Group officially signed a strategic cooperation memorandum. The two sides will work together to accelerate the in - depth integration of financial services and artificial intelligence technology, relying on Alibaba Cloud's artificial intelligence technology.
Financial Reports of Large Companies
Bio-Thera Solutions: Expected net loss attributable to the parent company ranges from 110 million yuan to 140 million yuan in the first half of the year
Bio-Thera Solutions announced on July 29 that it expects a net loss attributable to the parent company of 110 million yuan to 140 million yuan in the first half of 2025, a reduction of 96.8458 million yuan to 127 million yuan compared with the previous year. The company's performance during the reporting period will achieve a reduction in losses compared with the same period of the previous year. The main reason is that the sales volume of Adalimumab Injection (Gelalii®) has steadily increased compared with the same period of the previous year. The R & D expenses during the reporting period have decreased by 40 million yuan to 70 million yuan compared with the same period of the previous year. The main reason is that some of the company's R & D projects have completed global Phase III clinical trials. The BAT2206, BAT2306, and BAT2506 projects are all in the stage of applying for marketing approval. Among them, BAT2206 has obtained marketing approval from the US FDA. Therefore, the R & D expenses have decreased compared with the same period of the previous year. (Jiemian News)
Guobang Pharmaceutical: Net profit in the first half of the year was 456 million yuan, a year-on-year increase of 12.6%
36Kr learned that Guobang Pharmaceutical disclosed its semi-annual report for 2025. In the first half of the year, it achieved operating income of 3.026 billion yuan, a year-on-year increase of 4.63%; the net profit was 456 million yuan, a year-on-year increase of 12.6%, and the basic earnings per share was 0.82 yuan.
Sains: Pre - reduction of net profit attributable to the parent by 57.53% - 60.13% year - on - year in the first half of the year
Sains released its performance forecast on the 29th. The company expects to achieve an operating income of 410 million yuan - 440 million yuan in the first half of 2025, a year - on - year increase of 15.17% - 23.59%; the net profit attributable to the parent is 46 million yuan - 49 million yuan, a year - on - year decrease of 57.53% - 60.13%. During the reporting period, the growth of the company's operating income mainly stems from the growth of the operation service and product sales sectors. The year - on - year decline in the net profit attributable to the parent is due to the relatively large investment income generated from acquisitions in the same period of the previous year. (Jiemian News)
Lujiazui: Net profit in the first half of the year was 815 million yuan, a year-on-year decrease of 7.87%
36Kr learned that Lujiazui disclosed its semi-annual report for 2025. In the first half of the year, it achieved an operating income of 6.598 billion yuan, a year-on-year increase of 33.91%; the net profit attributable to shareholders of the listed company was 815 million yuan, a year-on-year decrease of 7.87%; the basic earnings per share was 0.16 yuan.
Cool Products
iPhone 17 Pro Prototype Exposed: Horizontal Matrix Design
On July 29th, technology media MacRumors shared pictures of an iPhone 17 Pro prototype captured outdoors, and there was also someone holding a labeled iPhone 16 Pro. Previous news and photos showed that it has features such as a rectangular camera bump. (IT Home)
A Small Survey on "Haircutting"
Do you have "haircut anxiety"? Every time you enter a barbershop, it's like opening a blind box. You carefully collect pictures of the hairstyles you love, but the result of the haircut makes even your mother speechless. Communicating with the barber is like having a cross - server chat. You talk about the style you want, and he talks about the new promotions in the store. You agree on a budget of less than 200, but after a lot of persuasion, you end up getting a full - set hair treatment. You finally find your favorite barber, but the shop closes down and the barber disappears within a few months...
How high can the failure rate of haircuts be? How do people screen out reliable barbers? How far are young people willing to go for a "good haircut"? Welcome to participate in the "Small Haircut Survey" and share your embarrassing haircut moments or recommend your amazing barbers with us. Let's unlock the 2025 Young People's Haircut Self - Rescue Guide together!
QR code for the questionnaire
Compiled by | Qiuxia