36Kr Evening News | Fat Donglai has applied for multiple intellectual property rights for jewelry products; Cryptocurrency trading platform Bullish to raise $1.11 billion through IPO; Nearly 100 Zhiyuan robots start working in factories.
Large Companies:
XPeng Motors: The delivery volume of XPeng G7 officially exceeds 10,000 units
36Kr learned that XPeng Motors announced in a Weibo post that the delivery volume of XPeng G7 has officially exceeded 10,000 units, and the order proportion of the XPeng G7 Ultra version exceeds 50%.
36Kr learned that Tencent released its financial report for the second quarter of 2025. The report shows that within the six months ended June 30, 2025, Tencent repurchased a total of 81,867,000 shares on the Stock Exchange at a total consideration of approximately HK$36.5 billion (excluding expenses). The repurchased shares have since been cancelled. The repurchase is aimed at enhancing shareholder value in the long term.
Fat Donglai has applied for multiple intellectual property rights for jewelry products
36Kr learned that according to the Aiqicha App, Xuchang Fat Donglai Commerce and Trade Group Co., Ltd. has registered trademarks such as "Donglai Pure Gold", "Donglai Pristine Stone", and "Donglai Fine Silver" in the international classification of jewelry and watches; it has also announced design patents for the appearance of necklace products such as "Necklace (Feather)", "Necklace (Freedom and Love)", and "Necklace (Gilded)". In addition, Xuchang Fat Donglai Weichu Jewelry Co., Ltd., a subsidiary of Xuchang Fat Donglai Commerce and Trade Group Co., Ltd., has announced multiple design patents for the appearance of jewelry products such as "Bracelet (Dragon's Auspiciousness)", "Pendant (Companion)", and "Ring (Everlasting Elegance)".
GAC Group: GAC Aion plans to invest 600 million yuan to increase capital in Huawang Automobile
36Kr learned that GAC Group issued an announcement stating that its controlling subsidiary, GAC Aion, plans to invest 600 million yuan in Huawang Automobile Technology (Guangzhou) Co., Ltd. (referred to as "Huawang Automobile"). After completing this capital increase, the company will directly hold 71.43% of the equity in Huawang Automobile and indirectly hold 28.57% of the equity through GAC Aion.
Cryptocurrency trading platform Bullish to raise $1.11 billion in IPO
According to a statement on Bullish's official website, the company has priced its expanded initial public offering (IPO) at $37 per share and will issue 30 million common shares. The shares are expected to start trading on the New York Stock Exchange on August 13. JPMorgan Chase and Jefferies are acting as joint lead underwriters for the offering. It is reported that Bullish Group's IPO was oversubscribed by more than 20 times. (Caixin)
Innovation Medical: Boling Brain-Computer products have not been officially launched
36Kr learned that Innovation Medical issued an announcement on abnormal fluctuations in stock trading, stating that in early 2021, the company participated in the investment and establishment of Boling Brain-Computer (Hangzhou) Technology Co., Ltd. (referred to as "Boling Brain-Computer"), and the company holds 40% of the equity in Boling Brain-Computer. Boling Brain-Computer is mainly engaged in the R & D of core brain-computer interface technology and the design and production of related products. At present, its technical products are mainly applied in the field of medical rehabilitation. As of now, Boling Brain-Computer's products have not been officially launched, and only a small number of products have been sold due to cooperation with scientific research institutions. In 2023 and 2024, Boling Brain-Computer's operating losses were 6.6017 million yuan and 8.6641 million yuan respectively.
Investment and Financing:
It was learned from informed sources that Didi has recently invested in the unmanned commercial vehicle enterprise Xinshi. Reporters' inquiries to Didi and Xinshi Unmanned Vehicles have not received a response. Not long ago, Didi Freight and Xinshi Unmanned Vehicles cooperated in Qingdao to test the unmanned vehicle delivery business. Users can place orders through the Didi platform and choose unmanned vehicles to transport goods, with Xinshi Unmanned Vehicles responsible for providing the service. Currently, Xinshi Unmanned Vehicles have deployed more than 7,500 units in more than 280 cities. Founder and CEO Yu Enyuan previously said that Xinshi will complete the deployment of 10,000 unmanned vehicles earlier than expected at the beginning of the year, and will extend from the planned logistics in the express delivery industry to the real-time scheduling logistics in urban freight in the second half of this year. (Yicai Global)
"Lianguang Yuanhe" completes a Series A financing of 400 million yuan
36Kr learned that recently, "Lianguang Yuanhe" completed a Series A financing of 400 million yuan. This round of financing was led by its angel round shareholder Shanghai United Investment, followed by local state-owned assets and funds such as Fuhua Technology and Gaoyuan Capital. The founding shareholder, Gaowei Technology, and old shareholders such as Guanghehao and Weber Investment continued to increase their holdings. This round of financing will be mainly used for R & D and productization in the fields of communication and optical processing.
"Zhendian Zhigan" obtains nearly 10 million yuan in angel round financing
36Kr learned that the sensor technology company "Zhendian Zhigan" has recently completed an angel round financing of nearly 10 million yuan. This round was led by Linhe Venture Capital, followed by the Tsinghua Alumni Fund. Zhiyun Capital served as the financial advisor for this round of financing. The funds from this round will be used for sensor R & D, the construction of testing production lines, and the establishment of a commercialization team.
Advent International to acquire Israeli software company Sapiens for $2.5 billion
Israeli software company Sapiens International said on Wednesday that US private equity giant Advent International will acquire the company for $2.5 billion in cash. Sapiens' shareholders will receive $43.50 in cash per share, a premium of approximately 47.5% over the company's closing price of $29.50 on the Nasdaq on Tuesday. The company said that after the transaction is completed, Sapiens will become a privately held company. Sapiens provides software solutions for the insurance industry. (Sina Finance)
New Products:
Nearly 100 Zhiyuan robots enter the factory to "take up their posts"
36Kr learned that according to Pudong Release, in Fuling Precision Industry Co., Ltd. located in Sichuan Province, a group of Expedition A2 - W robots are busy moving material boxes, becoming the core transportation force connecting the workshop production process. It was learned from Zhiyuan Robot Company, a representative enterprise of embodied intelligence in Pudong, that after reaching a project cooperation worth tens of millions of yuan with Fuling Precision Industry, nearly 100 Expedition A2 - W robots have quickly been deployed in the Fuling Precision Industry factory and officially entered the factory to "take up their posts". It is worth noting that this is the first large - scale deployment of this category in the global intelligent manufacturing scenario.
Today's Views:
A report from Morgan Stanley shows that as concerns about tariffs ease, global hedge funds have increased their risk appetite before the Nikkei index soared to a record high, increasing their exposure to Japanese stocks while increasing short positions in the South Korean stock market. A report sent by Morgan Stanley's institutional brokerage team to clients on Tuesday said that after the positions declined in July, hedge funds "significantly" increased their total exposure to the Japanese stock market last week, with the growth of long positions exceeding that of short positions. (Sina Finance)
36Kr learned that Li Auto posted on Weibo that starting from August 20, the first batch of deliveries of the Li Auto i8 will be carried out across the country. "The factory is operating at full capacity. By the end of September, we will ensure that more than 8,000 units of the Li Auto i8 are delivered to users. At the same time, we will work with supply chain partners to challenge the delivery of 10,000 units and strive to let more users pick up their new cars before the National Day holiday." Subsequently, Li Xiang, CEO of Li Auto, posted that one of the goals for September is to exceed 8,000 units in the delivery of the Li Auto i8 and challenge 10,000 units.
Other Notable News:
36Kr learned that according to data from the central bank, preliminary statistics show that the stock of social financing scale at the end of July 2025 was 431.26 trillion yuan, a year - on - year increase of 9%. Among them, the balance of RMB loans issued to the real economy was 264.79 trillion yuan, a year - on - year increase of 6.8%; the balance of foreign - currency loans issued to the real economy converted into RMB was 1.21 trillion yuan, a year - on - year decrease of 23.2%; the balance of entrusted loans was 11.16 trillion yuan, a year - on - year decrease of 0.4%; the balance of trust loans was 4.46 trillion yuan, a year - on - year increase of 5.9%; the balance of undiscounted bank acceptance bills was 1.92 trillion yuan, a year - on - year decrease of 10.4%; the balance of corporate bonds was 33.39 trillion yuan, a year - on - year increase of 3.8%; the balance of government bonds was 89.99 trillion yuan, a year - on - year increase of 21.9%; the balance of domestic stocks of non - financial enterprises was 11.94 trillion yuan, a year - on - year increase of 3.2%.
On August 13, the People's Bank of China announced financial data. At the end of July, both the social financing scale and the M2 growth rate remained at relatively high levels, reflecting a moderately loose monetary policy orientation and providing a suitable monetary and financial environment for the real economy; at the same time, affected by seasonal factors, the credit data fluctuated significantly. Monthly financial data is often regarded as a window to observe the phased economic and financial operation situation. However, as China's economy enters a stage of high - quality development, the single - month loan reading is usually not sufficient to accurately reflect the economic activity level, nor can it fully reflect the intensity of financial support for the real economy. When analyzing the economic and financial situation, there is no need to over - focus on single - month data, and it is even less advisable to over - hype the fluctuations in single - month credit increment readings. (Financial Times)
The market value proportion of Bitcoin has fallen below 60%, hitting a new low since February
Bitcoin's dominance has fallen below 60% for the first time since February 1. This figure represents Bitcoin's share in the total market value of cryptocurrencies. The market value of Bitcoin is currently $2.39 trillion, while the entire cryptocurrency market has soared to over $4 trillion, hitting a record high. Ethereum has been a key driving force behind the rise of cryptocurrencies, and its price has climbed to $4,700. The last time Bitcoin's dominance was this low, the price of Bitcoin was less than $100,000. (Caixin)