8 o'clock, Yi Krypton News: NVIDIA Summoned for H20 Chip Vulnerability and Backdoor, Cash Gold Purchases Over 100,000 Yuan to Be Reported from August, Microsoft Becomes Second Company with Market Value Over $4 Trillion

The Cyberspace Administration of China summoned NVIDIA Corporation over the security risks of backdoors and vulnerabilities in the H20 computing chips.

Going Public in Progress

Tianlian Robotics

36Kr learned from the website of the China Securities Regulatory Commission (CSRC) that Sichuan Tianlian Robotics Co., Ltd. completed the record-filing for tutoring with the Sichuan Securities Regulatory Bureau on July 30, 2025. The company plans to conduct an initial public offering (IPO) of stocks and be listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. The tutoring securities firm is Huaan Securities. According to the record-filing report for tutoring, the company has no controlling shareholder. The actual controller is Hu Tianlian, and the persons acting in concert are Hu Tianlian, Wu Jian, Chen Gang, Tang Huang, Jiang Ming, Luo Qianyou, Yue Zhibin, Song Zhihui, Tian Rong, and Yan Jin. The persons acting in concert hold a total shareholding ratio of 48.53%.

Yunhan Core City (Shanghai) Internet Technology Co., Ltd.

36Kr learned that the China Securities Regulatory Commission has approved the registration application of Yunhan Core City (Shanghai) Internet Technology Co., Ltd. for its initial public offering of shares and listing on the Growth Enterprise Market.

Top 3 Big News

Cyberspace Administration of China Summons NVIDIA

Recently, it was reported that NVIDIA's computing power chips have serious security issues. Previously, US lawmakers called for advanced chips exported by the US to be equipped with a "tracking and positioning" function. Experts in the field of artificial intelligence in the US revealed that NVIDIA's "tracking and positioning" and "remote shutdown" technologies for computing power chips are already mature. To safeguard the network security and data security of Chinese users, in accordance with relevant provisions of the Cybersecurity Law, the Data Security Law, and the Personal Information Protection Law, the Cyberspace Administration of China summoned NVIDIA on July 31, 2025, and required the company to explain the security risks of the vulnerabilities and backdoors in the H20 computing power chips sold to China and submit relevant certification materials.

Late on July 31, in response to the reported serious security issues in NVIDIA's computing power chips, NVIDIA responded, "Network security is of utmost importance to us. NVIDIA's chips do not have 'backdoors' that would allow anyone to remotely access or control these chips." (Yicai Global)

Report Required for Cash Gold Purchases Exceeding 100,000 Yuan Since August

Recently, the People's Bank of China issued a notice on the "Administrative Measures for Anti - Money Laundering and Anti - Terrorist Financing of Precious Metals and Gemstone Industry Institutions" (hereinafter referred to as the "Measures"), which will be officially implemented on August 1, 2025.

The "Measures" stipulate that industry institutions conducting cash transactions of 100,000 yuan (inclusive) or more in RMB or the equivalent in foreign currency shall fulfill anti - money laundering obligations in accordance with the provisions of these measures; for single - transaction or daily cumulative cash transactions of 100,000 yuan (inclusive) or more in RMB or the equivalent in foreign currency by customers, industry institutions shall submit large - value transaction reports to the China Anti - Money Laundering Monitoring and Analysis Center within 5 working days from the date of the transaction as required. (People's Daily Online)

Microsoft Becomes the Second Company in History to Reach a Market Value of $4 Trillion

36Kr learned that on July 31 (Eastern Time in the United States), Microsoft's stock price rose more than 8% at the opening, making it the second company in history to reach a market value of $4 trillion.

However, at the close on July 31, the three major U.S. stock indexes all declined. The Dow Jones Industrial Average fell 0.74%, the Nasdaq Composite Index fell 0.03%, and the S&P 500 Index fell 0.37%. Most large technology stocks declined. Tesla fell more than 3%, Google and Netflix fell more than 2%, and Nvidia and Apple declined slightly. Meta rose more than 11%, and Microsoft rose nearly 4%. Its market value at the close did not reach $4 trillion.

Large Companies/Large Events

China Automotive Engineering Research Institute Responds to the Dispute over Li Auto's Head - on Collision with a Dongfeng Liuqi Truck: The Entire Testing Process Complies with Regulations and Standards

Recently, a video of a 100 - km/h head - on collision test between the Li Auto i8 and a truck, which was played at the new car launch event of Li Auto, showed that after the frontal collision, the four wheels of the truck bounced up and the truck cab toppled over. This test video has led some netizens to question the quality of the collided truck. In response, the official of Dongfeng Liuqi, the brand of the truck, stated that its legal department is handling the matter. Dongfeng Liuqi clearly questioned the authenticity of the test results.

On July 31st, a reporter, posing as an investor, called China Automotive Engineering Research Institute (601965.SZ), the testing party of the head - on collision test. A staff member from its securities department responded that the entire testing process definitely complies with all regulations and standards, and they will not deliberately adjust the vehicle parameters because of (which party) being a client. Regarding the source of the truck, the staff member said that the test truck is a brand - new vehicle, and the specific source needs to be confirmed with the business department. (Jiupai News)

Adjustment of the Classification and Catalog of Occupational Diseases: "Mouse Hand" Included in the Category of Occupational Diseases

Recently, the National Health Commission, the Ministry of Human Resources and Social Security and other departments have adjusted the "Classification and Catalog of Occupational Diseases". Two new categories of occupational diseases, carpal tunnel syndrome and post - traumatic stress disorder, have been added, and they will be officially implemented on August 1, 2025. This marks another solid step forward for China in safeguarding the health rights and interests of workers.

Carpal tunnel syndrome, commonly known as "mouse hand", is a hand disease caused by long - term use of mice and keyboards. Its incidence is increasing year by year in modern society. The main symptoms of this disease include wrist pain, finger numbness, weakness, etc. In severe cases, it can even affect the normal function of the hands, bringing great trouble to the daily life and work of patients. In the past, due to a lack of sufficient understanding and attention to this disease, the health rights and interests of many workers who suffered from carpal tunnel syndrome were not fully protected. (Qianjiang Evening News)

NetEase Cloud Music Sues SM Entertainment for Abusing Market Dominance

Recently, the court made public the hearing information of a lawsuit filed by Hangzhou Ledou Technology Co., Ltd. and Hangzhou NetEase Cloud Music Technology Co., Ltd. against SM ENTERTAINMENT CO., Kasdream (Shanghai) Culture Communication Co., Ltd., etc. The case involves a dispute over the abuse of market dominance. The announcement shows that the case is scheduled to be heard at the Intermediate People's Court of Hangzhou City, Zhejiang Province on August 6.

In January this year, NetEase Cloud Music issued a letter to fans of South Korean entertainment company SM. It informed fans that due to the copyright holder's unilateral notice of non - renewal, NetEase Cloud Music might have to remove all songs by SM Entertainment from its platform on January 31, 2025. NetEase Cloud Music said it would strive for the renewal of the copyright and would inform users immediately if there was any further news. (Jiupai News)

National Healthcare Security Administration: Assisted reproductive technologies have been fully included in reimbursement

On July 30, the State Council Information Office held a press conference to introduce the child - rearing subsidy system and relevant fertility support measures. Liu Juan, the deputy director of the Benefits and Security Department of the National Healthcare Security Administration, introduced that all 31 provinces (autonomous regions, municipalities) and the Xinjiang Production and Construction Corps have fully included assisted reproductive technologies in reimbursement. In 2024, over one million people have enjoyed the benefits, helping thousands of families fulfill their "fertility dreams". Some provinces have included labor analgesia in reimbursement, relieving both the financial and physical burdens on pregnant women. At the same time, efforts are being made to expedite the establishment of price items for neonatal care and "family - accompanied childbirth", promoting the optimization of services in pediatrics and obstetrics to better meet the diverse needs of the public for fertility services. (CCTV Finance)

In the first half of 2025, 3.539 million couples registered for marriage, an increase of 109,000 couples compared with the same period last year.

The "Statistical Bulletin on the Development of Civil Affairs Undertakings in 2024" released by the Ministry of Civil Affairs on the 30th shows that in 2024, there were a total of 4,190 marriage registration agencies and venues nationwide, including 1,134 marriage registration agencies. Throughout the year, 6.106 million couples legally registered for marriage, and the marriage rate was 4.3‰.

Reporters sorted out the data on the age distribution of the population registering for marriage in 2024 released in the bulletin and found that among the people getting married last year, the age group of 25 to 29 had the largest number of marriages, with 4.288 million people, accounting for 35.1%. Since 2013, this age group has had the highest proportion for 12 consecutive years. In addition, according to the latest data released by the Ministry of Civil Affairs, in the first half of 2025, 3.539 million couples registered for marriage, an increase of 109,000 couples compared with the same period last year. (Yicai Global)

Li Ka-shing Sells 400 Properties in the Greater Bay Area Starting from 400,000 Yuan, Agent: "Many Hong Kong Customers Are Buying"

Recently, Hutchison Whampoa Properties, a subsidiary of Cheung Kong Holdings, collectively promoted four projects to Hong Kong buyers, including Longpo Garden in Huizhou, Longpo Garden in Zhongshan, Yicui Manor in Guangzhou, and Haiyi Haoting in Dongguan, with a total of 400 properties available. The minimum total price starts from 400,000 yuan.

Taking Longpo Garden in Huizhou as an example, the unit price of the one - bedroom apartments with an area of 51 square meters was previously between 10,400 and 14,000 yuan per square meter. Now, a 51.34 - square - meter one - bedroom apartment on a mid - to high - floor is sold for 443,000 yuan, with an equivalent unit price of about 8,632 yuan per square meter. The price of villas in Haiyi Haoting in Dongguan has dropped from 44,000 - 68,000 yuan per square meter in May 2023 to 18,000 - 36,000 yuan per square meter in June this year.

According to the data publicly disclosed by the Guangdong Branch of the People's Bank of China, as of the end of June this year, a total of 3,341 home - buying transactions by Hong Kong and Macao residents on the Chinese mainland were processed in the jurisdiction of the Guangdong Branch, generating cross - border income equivalent to 3.08 billion yuan. (NBD)

CEO of Ceconomy Expects EU to Review JD.com's Acquisition Plan

Karl-Ulrich Köhler, the CEO of German company Ceconomy, said on Thursday that the company expects EU competition regulators to review JD.com's acquisition plan for it. Köhler added in a conference call that considering the scale of the deal, the relevant plan is expected to be reviewed by the EU rather than the German Federal Cartel Office. He also said that after teaming up with its Chinese partner, Ceconomy will be able to grow faster and gain leading technologies. (Sina Finance)

OpenAI's Annualized Revenue Reaches $12 Billion

It is reported that OpenAI's annualized revenue has reached $12 billion, and it has raised its cash burn forecast for 2025 to approximately $8 billion. (Cailian Press)

Gucci's Sales Have Declined for Six Consecutive Quarters

On the evening of July 29th, Kering Group released its financial report for the second quarter and the first half of 2025. The financial report shows that in the second quarter of this year, Kering Group's revenue decreased by 15% to 3.7 billion euros. Gucci, which accounts for the largest proportion of the group's profit, saw its revenue drop by 27% to 1.46 billion euros.

Reporters noticed that this is already the sixth consecutive quarter of sales decline for Gucci. In the first half of this year, Kering Group's overall operating revenue was 7.587 billion euros, a year - on - year decrease of 16%; the recurring operating profit was 969 million euros, a year - on - year decrease of 39%; the net profit was 474 million euros, a year - on - year decrease of 46%. Gucci's revenue decreased by about 26% year - on - year to 3.027 billion euros. (NBD)

Amazon Stops Advertising on Google's E-commerce Platform Google Shopping

It is reported that Amazon has stopped advertising on Google's e-commerce platform Google Shopping. John Burton, the performance director at MRS Digital, said, "All signs indicate that their advertising spending on Google Shopping has completely stopped." Mark Ballard, the research director at MRS Digital, added, "According to the latest Google data as of July 23, Amazon appears to have fully withdrawn from Google Shopping's ad auctions, which is the first time this has happened since the early days of the pandemic in 2020." (Zhitong Finance)

The operator of Sakura Anime was sentenced to two years and three months in prison and fined 15,000 yuan

According to IT Home, citing the Content Overseas Distribution Association (CODA) of Japan, the operator of Sakura Anime was investigated by the Public Security Bureau of Chengdu, Sichuan Province, as a criminal case on October 14, 2023. The People's Court of Tianfu New Area in Chengdu announced the first - instance judgment on December 13 last year: Due to the crime of copyright infringement and the crime of forging documents, the operator was sentenced to two years and three months in prison and fined 15,000 yuan after a combined punishment for several crimes.

The report mentioned that during the criminal trial, the operator continued to operate the website for profit and changed the domain name multiple times between 2017 and 2021. At the same time, the website was operated in Chinese, and most of the content it posted was Japanese anime, with Chinese subtitles provided. During this period, the website also posted more than 2,100 anime series (30,000 episodes) without permission, of which more than 10,000 episodes were confirmed by CODA member companies to be Japanese anime works. (IT Home)

Telecom broadband overdue payment reminder claims it will affect children's schooling, operator responds: The text message serves as a kind - hearted reminder

Recently, a "overdue payment reminder" text message for telecom broadband posted by Ms. Xu, a citizen, on Weibo has attracted the attention of many netizens. The text message shows that due to the overdue payment, the credit information associated with Ms. Xu's ID card may result in her being unable to purchase high - speed train tickets, air tickets, enroll in endowment insurance or medical insurance, and it may also affect her children's schooling and the use of Alipay for payments and receipts.

The reporter consulted the Wenzhou Branch of China Telecom about whether overdue telecom broadband payments would directly affect personal credit and other related issues. A relevant person in charge of the office of the Wenzhou Branch of China Telecom said that currently, this part of the content has not been included in the credit system. "If there is an overdue payment, as long as you pay the bill, the problem is not serious. The text message mainly serves as a kind - hearted reminder, and there may be differences in the operations of different outlets." (Wenzhou Metropolis Daily)

Japan Lifts Tsunami Warnings for All Regions

At 16:30 local time on July 31st, the Japan Meteorological Agency announced the lifting of tsunami warnings for all areas on the Pacific side of Japan. (CCTV News)

In July, the inventory warning index of Chinese automobile dealers was 57.2%, a year-on-year decrease of 2.2 percentage points

On July 31st, the latest issue of the "China Automobile Dealer Inventory Warning Index Survey" VIA released by the China Automobile Dealers Association showed that in July 2025, the inventory warning index of Chinese automobile dealers was 57.2%, a year-on-year decrease of 2.2 percentage points and a month-on-month increase of 0.6 percentage points. The inventory warning index is above the boom-bust line, indicating a decline in the prosperity of the automobile circulation industry. (Jiemian News)

Foreign Ministry Responds to U.S. Suspension of Tariff Exemption Policy for Small Parcels

Foreign Ministry Spokesperson Guo Jiakun presided over a regular press conference on July 31. A reporter from Agence France - Presse asked that the United States suspended the tax - exemption policy for small parcels today, and many parcels from China would be affected. What's the Foreign Ministry's comment on this? Guo Jiakun said that China has noted the relevant situation. China hopes that the U.S. side will abide by the market principle of fair competition and provide a fair, just and non - discriminatory business environment for enterprises from all countries, including Chinese enterprises. (Beijing Daily)

The Cutting - Edge of AI

Over 3.1 billion individual users have registered for Chinese large - model applications

It is learned from the National Internet Information Office that currently, AI is providing services to users through various means such as web pages, mobile applications, API interfaces, local deployments, and cloud - service deployments. According to incomplete statistics, the total number of individual users who have registered for large - model applications has exceeded 3.1 billion, and the total number of API - calling users has exceeded 159 million. (The Paper)

Financial reports of large companies

Apple: Revenue in the third fiscal quarter of fiscal year 2025 reached $94.04 billion, a year-on-year increase of 9.6%

36Kr learned that Apple released its financial report for the third fiscal quarter of fiscal year 2025. The revenue in this quarter was $94.04 billion, a year-on-year increase of 9.6%; the net profit was $23.43 billion, a year-on-year increase of 9%.

Amazon's Q2 Revenue Reaches $167.7 Billion, Net Profit Soars 35% Year-on-Year

Amazon released its financial report for the second quarter of fiscal year 2025: Net sales reached $167.7 billion, a year-on-year increase of 13%. Excluding the impact of exchange rate fluctuations, the year-on-year increase was 12%. The net profit was $18.2 billion, a year-on-year increase of 35%. The diluted earnings per share were $1.68, up from $1.26 in the same period last year. Amazon's adjusted diluted earnings per share in the second quarter exceeded Wall Street analysts' previous expectations, but its revenue fell short of expectations. Meanwhile, Amazon's outlook for revenue in the third quarter of fiscal year 2025 also failed to meet expectations. (Sina Tech)

Sinopec: It is estimated that the net profit attributable to the parent company in the first half of the year will decrease by 39.5% - 43.7% year-on-year

36Kr learned that Sinopec announced that according to the Accounting Standards for Business Enterprises in China, it is estimated that the net profit attributable to the shareholders of the parent company in the first half of 2025 will be between RMB 20.1 billion and RMB 21.6 billion, a decrease of 39.5% - 43.7% compared with the same period of the previous year. It is estimated that the net profit attributable to the shareholders of the parent company after deducting non - recurring gains and losses in the first half of 2025 will be between RMB 20 billion and RMB 21.5 billion, a decrease of 39.6% - 43.8% compared with the same period of the previous year.

BMW Group's Net Profit Drops 29% Year-on-Year in First Half

On July 31, the BMW Group announced that its total operating revenue in the first half reached 67.685 billion euros, a year-on-year decrease of 8.0%; the net profit was 4.015 billion euros, a year-on-year decrease of 29.0%. (Jiemian News)

WeRide: Revenue Reached 127 Million Yuan in Q2, a 60.8% Year-on-Year Increase

36Kr learned that WeRide released its financial report for the second quarter of 2025. The report shows that the company's revenue in the second quarter was 127 million yuan, a 60.8% year-on-year increase; the revenue from the Robotaxi business was 45.9 million yuan, a year-on-year increase of 836.7%, setting a new single-quarter record since the company's establishment; the proportion of the Robotaxi business in the second-quarter revenue rose to 36.1%, reaching a new single-quarter high since 2021.

HarmonyOS Youth Survey

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Are you also part of this "HarmonyOS wave"? Why did you choose it? Which features of the HarmonyOS make you exclaim "so amazing"? Welcome to scan the QR code and participate in the "HarmonyOS Youth" survey to share your inspiration and stories with the HarmonyOS.

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Compiled | Qiuxia

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