At 8 a.m., here are the latest news: NIKE sues Edison Chen for compensation of 900,000 yuan, and Edison Chen issues a statement; China Evergrande will be delisted on August 25; Mercedes-Benz CEO warns of the consequences of having no fuel-powered vehicles.
Going public in progress
Xinqi Micro Equipment
36Kr learned that Xinqi Micro Equipment issued an announcement stating that the company intends to issue shares (H shares) overseas and apply for listing on the Main Board of The Stock Exchange of Hong Kong Limited. The company will choose an appropriate time and issuance window to complete the issuance of H shares and listing within the validity period of the shareholders' meeting resolution.
Wolong Electric Drive
36Kr learned that on August 13, Wolong Electric Drive Group Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange. The joint sponsors are China International Capital Corporation, Huatai International, and GF Securities (Hong Kong).
Top 3 Big News
NIKE Sues Edison Chen for $900,000 in Damages, Citing Contract Violation
On August 10th, Nike filed a lawsuit against Edison Chen in the United States, alleging a contract violation. The defendant also includes Juice Los Angeles LLC, a company under Edison Chen. Nike claims that Juice owes it $126,000 (approximately RMB 900,000) for goods supplied by Nike. Edison Chen was included in the lawsuit as the personal guarantor for the accounts between Juice and Nike.
In 2004, Edison Chen co - founded the CLOT brand with his partners. In 2006, CLOT and Nike collaborated for the first time to release a co - branded sneaker. Subsequently, they launched several popular co - branded sneakers. In October 2023, Edison Chen ended his partnership with Nike and later became a creative partner of Adidas. Four months later, Edison Chen officially unveiled his first collaborative collection with Adidas at the CLOT Spring/Summer 2024 show during Shanghai Fashion Week. Since then, CLOT and the Adidas brand have launched several new products.
In addition, in the early hours of August 13th, Edison Chen posted a photo of the co - branded shoes between CLOT and Adidas on his personal social media platform, with the caption "WORD". On August 12th, Edison Chen also posted photos of two other pairs of co - branded shoes with Adidas. (Red Star News)
China Evergrande Delisted, Listing Status to Be Cancelled Starting at 9:00 a.m. on August 25
On the evening of August 12, China Evergrande announced that the company had received a letter from the Stock Exchange indicating that based on the company's failure to meet any of the resumption of trading guidelines imposed by the Stock Exchange and the fact that its shares had been suspended from trading and had not resumed trading before July 28, 2025, the Listing Committee of the Stock Exchange had decided to cancel the company's listing status in accordance with Rule 6.01A(1) of the Listing Rules.
The last day of trading of the shares was August 22, 2025, and the listing status of the shares will be cancelled starting at 9:00 a.m. on August 25. China Evergrande stated that the company has no intention to apply for a review of the Listing Committee's decision to cancel the listing status.
In January 2024, China Evergrande was officially issued a winding - up order by the High Court of Hong Kong and announced another round of trading suspension, thus starting the countdown to delisting. (National Business Daily)
Mercedes-Benz CEO Warns of Consequences of No Gasoline Cars: European Auto Industry Will Face "Collapse"
A few years ago, Mercedes-Benz was confidently planning a full transition to pure electric vehicles in Europe. In 2021, the company expected to stop selling gasoline cars by the end of this century at the latest, as long as market conditions permitted. However, according to foreign media Motor1's report on the 12th, this ambition has now completely reversed. Mercedes-Benz CEO Ola Källenius said bluntly that if there were no gasoline cars, the European auto industry would face "collapse".
When interviewed by German newspaper Handelsblatt, Källenius warned that if the EU insists on a full ban on the sale of new gasoline cars starting in 2035, the European auto industry will self-destruct. "We must face reality, otherwise we'll crash into a wall at full speed. Decarbonization is imperative, but we must remain technology-neutral, and the economy cannot be ignored." (IT Home)
Big Companies/Big Events
Members of Multiple Video Platforms Unable to Turn Off All Ads
Recently, reporters conducted actual tests on five apps, namely Mango TV, Youku, iQiyi, Tencent Video, and Bilibili. They found that even after subscribing to different levels of memberships, the so - called "advertising privileges" mostly only cover the removal of "pre - roll ads". However, more than a dozen types of ads, such as pause ads and product placement ads, may still appear, and some of them cannot be turned off. Before subscribing to a membership, there is nearly a one - minute non - skippable "pre - roll ad" before the episodes on Mango TV, Youku, iQiyi, and Tencent Video. After subscribing to a VIP membership, some platforms can exempt users from such ads, but not all. For example, iQiyi's "basic members" still have to watch pre - roll ads. The platform indicates that they "do not enjoy advertising privileges" and only provides content benefits such as early access to popular dramas. (The Paper)
Douyin Responds to Extensive Online Discussions about "Ideal Car Owners Parking Illegally"
On August 12th, the official Weibo account of Douyin's Blackboard stated that recently, there have been a large number of discussions about "Ideal car owners" on the internet, and some of the content contains misleading and attacking remarks. After receiving complaints and reports from Li Auto, the platform actively verified and handled the situation, and dealt with the content that violated the community rules.
Douyin said that based on the "Rules for the Governance of Hot Information and Accounts in the Douyin Community (Trial)", the platform has proactively dealt with the content and accounts that inappropriately piggyback on the event for heat and engage in malicious hype, including but not limited to: using this incident for hype and marketing, homogeneously performing spoofs or filming "Ideal car owners parking illegally", personally attacking Ideal car owners, and self - modifying avatars and falsely claiming to be "banned", etc. (Yicai Global)
Ng Ching Liang, the founder of Nippon Paint, passed away. He was once the richest man in Singapore.
On August 12, Ng Ching Liang, the founder of the United Asia Holdings Group and the "Nippon Paint" brand, passed away at the age of 98. The Ng family issued a statement saying that Ng Ching Liang passed away peacefully in Singapore surrounded by his family.
According to the official website of Nippon Paint China, currently, the China headquarters of Nippon Paint is located in Shanghai. It has invested in and built more than 70 production bases in China, with nearly 11,000 employees. In August 2020, Nippon Paint Holdings Co., Ltd., a listed company in Japan, issued an announcement stating that the company had reached a transaction agreement worth a total of 1.29 trillion yen with the United Asia Group in Singapore. After the completion of the transaction, it would become a subsidiary of the group.
In May 2025, with a personal wealth of $13 billion (about 93.4 billion yuan), Ng Ching Liang ranked 182nd on the Forbes Global Billionaires List and first in Singapore. (Yicai Global)
Li Xiang, CEO of Li Auto: The target for September deliveries of the Li i8 is over 8,000 units, with a challenge to reach 10,000 units
36Kr learned that Li Auto posted on Weibo that starting from August 20th, the first batch of deliveries of the Li i8 will commence across the country. "The factory is operating at full capacity. By the end of September, we will ensure that over 8,000 Li i8s are delivered to users. Meanwhile, we will work with our supply chain partners to strive for 10,000 deliveries, aiming to enable more users to take delivery of their new cars before the National Day holiday." Subsequently, Li Xiang, CEO of Li Auto, posted a message stating that one of the targets for September is to exceed 8,000 deliveries of the Li i8 and challenge the goal of 10,000.
“The First Programmer of Taobao” Leaves the Company
Reports indicate that Cai Jingxian, a former partner of Alibaba Group, has left the company. His status on Alibaba's internal and external platforms shows as “Retired from the Arena”. Cai Jingxian, with the alias “Duolong”, was one of the three development engineers in Taobao's startup team and is known as the first programmer of Taobao. A person close to Alibaba confirmed this news to reporters. Duolong worked at Alibaba Group for as long as 25 years, from August 1, 2000, when he joined the company, to August 1, 2025, when he left. (The Paper)
Two Departments: Strengthen Supervision and Management of Product Recalls and Production Consistency of Intelligent Connected New Energy Vehicles and Standardize Promotions
36Kr learned that the State Administration for Market Regulation, in conjunction with the Ministry of Industry and Information Technology, has drafted the "Notice of the State Administration for Market Regulation and the Ministry of Industry and Information Technology on Strengthening the Supervision and Management of Product Recalls and Production Consistency of Intelligent Connected New Energy Vehicles and Standardizing Promotions (Draft for Comment)". It is mentioned that in the naming and marketing promotion of combined driving assistance systems or functions, enterprises shall not imply to consumers that they can be regarded as autonomous driving systems or have functions that they actually do not possess, so as to prevent drivers from misusing them. Enterprises should avoid exaggerating the vehicle's driving performance and misleading consumers into driving at unreasonably high speeds. The State Administration for Market Regulation will increase the supervision and inspection of situations such as exaggerating combined driving assistance functions, deceiving or misleading consumers in enterprises' advertising activities and commercial promotion behaviors. It will organize recall technology institutions to carry out technical identification of issues such as excessive promotion, and conduct special joint investigations in conjunction with the Ministry of Industry and Information Technology to do a good job in rectification and standardization in accordance with the law.
The official account "Dong Mingzhu's Healthy Home" has been renamed "Gree Goodies Guide"
On the afternoon of August 13th, the official account and service account of Gree Electric Appliances, "Dong Mingzhu's Healthy Home", was renamed "Gree Goodies Guide". The name record of this account shows that on March 11th, 2024, "Gree Electric Appliances" certified "Gree Dong Mingzhu Store"; on April 27th, 2025, "Gree Dong Mingzhu Store" was certified as "Dong Mingzhu's Healthy Home"; on August 13th, 2025, "Dong Mingzhu's Healthy Home" was certified as "Gree Goodies Guide". (Jiemian News)
The total box office of summer movies has exceeded 9 billion yuan
The total box office of summer movies has exceeded 9 billion yuan. According to data from Maoyan Professional Edition, as of around 15:28 on August 13, the total box office (including pre - sales) of the 2025 summer movie season (from June 1 to August 31) reached 9.002 billion yuan. A total of 240 million tickets were sold, and there were 3.0895 million screenings in total.
In terms of the regional distribution of box office, Shanghai ranks first in terms of urban box office, Guangdong Province ranks first in terms of provincial box office, and East China ranks first in terms of regional box office. In terms of movies, "Nanjing Photo Studio", "Little Monster from Langlang Mountain", and "The Lychees from Chang'an" temporarily rank among the top three on the summer box - office list. (Jiemian News)
Xiaohongshu will establish a large business division, led by Conan
36Kr learned that on August 12, Xiaohongshu announced internally that in order to promote in - depth collaboration between commercialization and transactions, the company will establish a large business division. Conan will serve as the overall person - in - charge and form a leadership team with Zhiheng. People familiar with the matter said that Xiaohongshu's business system is vertically structured according to commercial advertising and transactions respectively. With the company's development and market needs, the internal assessment is that the collaboration between the two business teams should be further strengthened. In this adjustment, the primary department settings of the Commercial Department and the Transaction Department will remain unchanged, and the organizational structure will remain stable.
Xiaomi Appoints Multiple Executives for the African Market, Lei Jun Says to Increase Investment
Recently, Xiaomi has made personnel adjustments for the African market. Liu Shequan has been appointed as the General Manager of the African Region and concurrently the Head of the West Africa Theater, reporting to Lin En, the General Manager of the International Sales Department. In addition, this personnel adjustment also involves multiple heads of the African Region. Zou Chengzong has been appointed as the Head of the East Africa Theater, Huang Jinhua as the Country Manager of Kenya, Wu Chunhui as the Head of the Marketing Department, and Liu Yeqi as the Head of the After - Sales Service Department. All four of the above report to Liu Shequan, the General Manager of the African Region. At the Eighth China - Africa Entrepreneurs Conference, Lei Jun, the founder, chairman, and CEO of Xiaomi Group, said in a speech that Xiaomi has already launched business in 16 African countries such as Egypt, South Africa, Nigeria, Morocco, Algeria, and Kenya. Next, it will increase investment in the African continent. (Sina Technology)
Didi Invests in Neolix's Driverless Vehicles, Making Another Move in the Logistics Delivery Race
It was learned from informed sources that Didi has recently invested in Neolix, an autonomous commercial vehicle company. Reporters' inquiries to Didi and Neolix about this have not received a response yet. Not long ago, Didi Freight and Neolix conducted a trial run of the driverless vehicle delivery service in Qingdao. Users can place orders through the Didi platform and choose driverless vehicles to transport goods, with Neolix providing the service. Currently, Neolix has deployed over 7,500 driverless vehicles in more than 280 cities. Yu Enyuan, the founder and CEO of Neolix, previously stated that Neolix will complete the deployment of 10,000 driverless vehicles earlier than initially expected at the beginning of the year. In the second half of this year, it will expand from planned logistics in the express delivery industry to real - time dispatch logistics in urban freight. (Yicai Global)
Universal Beijing Resort Responds to Recruitment of Retirees: Refer to Official Website Recruitment Information
Recently, there were reports that Universal Beijing Resort was recruiting officially retired individuals. In response, the official of Universal Beijing Resort stated that the recruitment information on its official website should be taken as the standard. By logging on to the official website, it can be seen that there is no specific recruitment information targeting retirees. All positions are classified by functions, such as catering, operations, technology, etc. A person familiar with the matter revealed to a reporter from Yicai Global that Universal Beijing Resort's recruitment is based on functions and requirements, rather than age. (Yicai Global)
Tianmen, Hubei: Up to 287,100 yuan in rewards and subsidies for having a second child, up to 355,900 yuan for having a third child
On August 12, a staff member of the Tianmen Health Commission introduced that the policy stipulates that families with a second child can receive a one - time reward of 2,300 yuan and a monthly parenting subsidy of 800 yuan until the child turns 3. Families with a third child will get a one - time subsidy of 3,300 yuan and a monthly parenting subsidy of 1,000 yuan. In addition, families with a second and third child can enjoy housing purchase subsidies of 60,000 yuan and 120,000 yuan respectively. At the same time, hospitals provide free services such as filing for prenatal check - ups, four - dimensional B - ultrasounds, and fetal echocardiograms for families with a second child. According to the above policy, families with a second child can receive a maximum cumulative value of about 287,188 yuan in rewards, subsidies, and free services, while families with a third child can receive a maximum cumulative value of about 355,988 yuan in rewards, subsidies, and free services. (Yicai Global)
Hu Qianghong, a senior executive at Hello Inc., has left the company. He once served as the President of Public Affairs at Hello Inc.
Hu Qianghong, the former President of Public Affairs at Hello Group, has left the company. Public information shows that Hu Qianghong joined Hello in July 2020, serving as the President of Public Affairs. As a member of the Operating Leadership Team (OLT), he was responsible for the group's public affairs and strategic cooperation with government agencies. (Jiemian News)
Fat Donglai Has Applied for Multiple Intellectual Property Rights for Jewelry Products
36Kr learned that according to the AiQicha App, Xuchang Fat Donglai Trading Group Co., Ltd. has registered trademarks such as "Donglai Pure Gold", "Donglai Pumice Stone", and "Donglai Fine Silver" under the international classification of jewelry and watches; it has also announced design patents for 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 Trading Group Co., Ltd., has announced multiple design patents for jewelry products such as "Bracelet (Dragon's Flight and Auspiciousness)", "Pendant (Companion)", and "Ring (Eternal Beauty)".
New Regulations for 3C Certification of Power Banks to Take Effect on August 15
To strengthen the management of mandatory product certification for mobile power banks, lithium-ion batteries, and battery packs, the Certification and Accreditation Administration of the People's Republic of China has formulated the "Rules for the Implementation of Mandatory Product Certification for Mobile Power Banks, Lithium-ion Batteries, and Battery Packs (Trial)". Mandatory product certification is also known as "3C certification". The 3C certification is a mandatory market access system implemented in accordance with the law in China to protect consumers' personal safety, national security, and the environment. According to national regulations, power banks officially launched on the market must obtain the 3C mandatory certification. (CCTV News)
Alibaba's Intelligent Information Business Group Launches Large-Scale Recruitment
36Kr learned that the Intelligent Information Business Group under Alibaba Group recently launched a large-scale AI talent recruitment plan, with a total scale of nearly a thousand positions for both social recruitment and campus recruitment. This recruitment focuses on cutting-edge technology fields such as large language models, multimodal recognition and understanding, multimodal training engineering, intelligent agent applications, and AI hardware. The work locations cover core cities such as Beijing, Shanghai, Hangzhou, and Guangzhou.
The three major U.S. stock indexes closed higher collectively, and most popular Chinese concept stocks rose
36Kr learned that at the close on August 13, the three major U.S. stock indexes rose collectively. The Dow Jones Industrial Average rose 1.04%, the S&P 500 Index rose 0.32%, and the Nasdaq Composite Index rose 0.14%. Among them, the Nasdaq and the S&P 500 Index continued to hit new record closing highs. Most large technology stocks fell. Netflix, Microsoft, and Meta fell more than 1%. Tesla, Google, and Nvidia fell slightly. AMD rose more than 5%. Intel, Apple, and Amazon rose more than 1%. Most popular Chinese concept stocks rose. 36Kr rose more than 7%. Futu Holdings and Bilibili rose more than 6%. Li Auto, Baidu, Alibaba, and NIO rose more than 3%. Weibo, Miniso, and JD.com rose more than 1%.
Elon Musk was slapped in the face by netizens with DeepSeek, which once topped the App Store charts
Elon Musk was unhappy that his own Grok didn't make it onto the recommendation list. He lashed out at Apple, accusing it of favoring its partner OpenAI and threatening to sue Apple for alleged monopoly manipulation of the app store.
He accused Apple of monopoly: "Apple's actions make it impossible for any AI company other than OpenAI to reach the top of the App Store rankings. This is undoubtedly a violation of antitrust laws." He announced that he had no choice but to take legal action against Apple immediately.
Ironically, netizens directly slapped Musk in the face under this X post through "community notes", listing citation sources and pointing out that the fact was otherwise. In January this year, the Chinese AI app DeepSeek topped the app rankings in the US region, and Perplexity also once topped the app rankings in India, and all of this happened after Apple reached a cooperation with OpenAI. (Sina Technology)
It is reported that the A20 chip of the iPhone 18 series features an innovative architecture, expected to achieve improvements in computing speed and energy efficiency
On August 12, Guo Mingji, an analyst at TF International Securities, posted a blog post stating that the iPhone 18 series to be launched by Apple in the second half of next year will be equipped with the newly designed A20 chip. This chip will adopt TSMC's latest packaging technology and be manufactured based on the 2-nanometer process.
It is worth noting that it is not yet certain whether the new packaging of the A20 chip will be applied only to high-end models such as the iPhone 18 Pro and iPhone 18 Fold, or will cover the standard iPhone 18 and iPhone 18 Air. Guo Mingji's latest research report mentions that the iPhone 18 Pro and the foldable iPhone will be launched first in the second half of 2026, while the lower-end models may be postponed until the spring of 2027. (IT Home)
OpenAI CEO Plans to Establish New Company to Directly Challenge Musk's Neuralink
Sam Altman, the CEO of OpenAI, is planning his next move to take on Elon Musk, with a plan to create a company that competes with Neuralink. According to reports, the new company, named Merge Labs, aims to integrate humans and machines through artificial intelligence. Currently, the company is raising funds at a valuation of $850 million, with a goal of raising $250 million. It is expected that OpenAI's venture capital team will provide most of the new funds. (Sina Finance)
Oracle's Cloud Computing Division Reportedly Lays Off Staff to Control Costs Amid High AI Investments
Oracle is laying off staff in its closely watched cloud computing division. The tech giant, which has made substantial investments in AI infrastructure, is taking measures to control costs. Multiple sources familiar with the matter revealed that affected employees received layoff notices this week. Two of the sources said that some layoffs are related to performance issues, and the cloud computing division is still hiring. Oracle's spokesperson has not responded to multiple requests for comment. (Sina Finance)
Muji in Japan Recalls Problematic Dorayaki, Available on Multiple Domestic E-commerce Platforms
On August 13th, Ryohin Keikaku Co., Ltd. in Japan announced that its brand Muji would conduct a voluntary recall of a snack product. The product being recalled this time is the 4-piece chestnut dorayaki, as foreign objects may have been mixed into some of the raw materials.
According to Ryohin Keikaku's recall notice, the expiration dates of this batch of 4-piece chestnut dorayaki are September 22, 2025, and September 26, 2025. Approximately 3,000 units of the recalled products were sold between August 6th and August 11th, mainly in Muji stores in Japan. The announcement stated that as of now, there have been no reports of consumers suffering health damage from consuming this product.
According to CCTV News, after verification, this problematic dorayaki has not been sold in Muji stores in mainland China. However, on multiple domestic e-commerce platforms, there are still purchasing agency channels for this product, and the product review information shows that there have been recent sales records. (Jiemian News, CCTV News)
Guo Mingji: Apple MacBook Pro with M5 Chip to Be Released Next Year
According to a research report by analyst Guo Mingji, the MacBook Pro equipped with the M5 chip may not be released until 2026. The A20 chip of the iPhone 18 will be packaged using WMCM (Wafer-Level Multi-Chip Module) technology. This technology integrates the so - called "filling and molding process", which can improve production efficiency and increase the yield rate. The yield rate refers to the percentage of functionally normal chips that can be obtained from each silicon wafer. (Cailian Press)
Porsche Lowers Adjusted After - tax Profit Forecast for 2025 to €1.6 Billion - €3.6 Billion
Porsche SE said it now expects adjusted after - tax profit in 2025 to be between €1.6 billion and €3.6 billion, down from a previous forecast of €2.4 billion to €4.4 billion. It still expects net debt to be between €4.9 billion and €5.4 billion by the end of the year. The company lowered its performance guidance due to current market dynamics and the adjusted performance outlooks of Volkswagen and Porsche AG. It believes there is significant development potential in the defense and security sectors and intends to capitalize on it. (Cailian Press)
White House: NVIDIA and AMD to hand over 15% of their revenues in China, and the policy may be extended to more companies
According to a report by CNBC, the White House confirmed on the 12th that two American chip manufacturers, NVIDIA and AMD, have agreed to a special deal. They will hand over 15% of their revenues from selling chips in China to the US government in exchange for export licenses for relevant products. The White House said that this deal may be extended to more companies in the future. (Global Times)
The Cutting - Edge of AI
Microsoft Reportedly Steps Up Efforts to Poach AI Talent, Targeting Multiple Meta Teams
It is reported that Microsoft is stepping up its efforts to compete for the dominant position in artificial intelligence. It is actively targeting Meta's top AI talents and offering salaries of up to millions of dollars to secure key engineers and researchers during the large - scale industry spending spree. According to internal documents obtained by Business Insider, Microsoft has identified the most sought - after Meta AI engineers and is implementing a new and highly competitive recruitment process. This move aims to match Meta's generous compensation packages, including multi - million - dollar signing bonuses, to attract and retain elite AI talents. (Sina Finance)
Is DeepSeek R2 Expected to Be Released in Late August? Insider: It's Not True
Recently, there have been market rumors that DeepSeek R2, developed by domestic large - model company DeepSeek, is expected to be released between August 15th and 30th. On August 13th, an insider from DeepSeek stated that the above information is not true. (The Paper)
Latest Feature Update of ChatGPT: Three Response Modes - "Automatic", "Fast", and "Deep Thinking" Offered
On August 13th, Sam Altman, the CEO of OpenAI, posted on a social media platform to introduce the latest feature update of ChatGPT. It was mentioned that currently, GPT-5 offers three modes for response mode selection: "Automatic", "Fast", and "Deep Thinking". Sam Altman said that the "Automatic" mode is suitable for most users, but the newly added control options will provide convenience for users with specific needs. In addition, Sam Altman stated that the new personality of GPT-5 under development will be more amiable than the current version, while avoiding the excessive enthusiasm of GPT-4o (based on the feedback from most users). "The team deeply realizes that more personalized AI personality customization functions must be achieved in the future," he added. (Jiemian News)
Apple Plans to Make a Big Splash in the AI Field and Proposes to Launch New Products Such as Robots and Home Security Cameras
Apple is planning a strong comeback in the field of artificial intelligence and intends to launch a series of ambitious new devices, including robots, an anthropomorphic Siri, smart speakers with displays, and home security cameras. According to people familiar with the matter, Apple plans to launch a desktop robot that can serve as a virtual companion in 2027, which will be the core of the company's AI strategy. Meanwhile, smart speakers with displays are expected to be launched next year, which is part of Apple's plan to enter the entry - level smart home product market. (Sina Finance)
Financial Reports of Big Companies
Tencent: Revenue Reached 184.504 Billion Yuan in Q2 2025, a Year-on-Year Increase of 15%
36Kr learned that Tencent released its financial report for the second quarter of 2025. The report shows that Tencent achieved a revenue of 184.504 billion yuan in the second quarter, a year-on-year increase of 15%; the operating profit (Non-IFRS) was 69.25 billion yuan, a year-on-year increase of 18%. In the second quarter, Tencent's revenue from value-added services increased by 16% year-on-year to 91.37 billion yuan; the revenue from marketing services increased by 20% year-on-year to 35.76 billion yuan; the revenue from financial technology and enterprise services business increased by 10% year-on-year to 55.54 billion yuan. Tencent's R & D investment in that quarter increased by 17% year-on-year to 20.25 billion yuan, and the capital expenditure increased by 119% year-on-year to 19.11 billion yuan. Tencent continued to increase its investment in the AI strategy: the R & D investment in that quarter increased by 17% year-on-year to 20.25 billion yuan, and the capital expenditure increased by 119% year-on-year to 19.11 billion yuan.
Youyan Silicon: Net profit in the first half of the year was 106 million yuan, a year-on-year decrease of 18.74%
36Kr learned that Youyan Silicon released its semi-annual report for 2025. The company achieved an operating income of 491 million yuan in the first half of the year, a year-on-year decrease of 3.2%; the net profit attributable to shareholders of the listed company was 106 million yuan, a year-on-year decrease of 18.74%.
Baolidi: Net profit in the first half of the year was 63.8146 million yuan, a year-on-year increase of 15.19%
36Kr learned that Baolidi disclosed its semi-annual report for 2025. In the first half of the year, the company achieved an operating income of 676 million yuan, a year-on-year increase of 1.47%; and a net profit attributable to shareholders of the listed company of 63.8146 million yuan, a year-on-year increase of 15.19%.
Harbin Investment Co., Ltd.: Net profit in the first half of the year was 380 million yuan, a year-on-year increase of 233.08%
36Kr learned that Harbin Investment Co., Ltd. released its semi - annual report for 2025. In the first half of the year, it achieved an operating revenue of 1.475 billion yuan, a year-on-year increase of 1.12%; the net profit attributable to shareholders of the listed company was 380 million yuan, a year-on-year increase of 233.08%.
Investment and Financing
“Zhendian Zhigan” Secures Nearly Ten Million Yuan in Angel Round Financing
36Kr learned that sensor technology company “Zhendian Zhigan” recently completed an angel round of financing, raising nearly ten million yuan. This round was led by Linguo Venture Capital, with participation from 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.
"Liangguang Yuanhe" Completes 400 Million Yuan Series A Financing
36Kr learned that recently, "Liangguang Yuanhe" completed a Series A financing of 400 million yuan. This round of financing was led by Shanghai United Investment, the angel round shareholder, and 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.
Cool Products
The all-new VOYAH Zhiyin starts pre-sales, and the new car will be officially launched at the end of August
36Kr learned that on August 13th, Shao Mingfeng, CBO of VOYAH, posted on Weibo that the all-new VOYAH Zhiyin has started pre-sales, with a starting price of 220,000 yuan. The new car will be officially launched at the end of August.
AI+AR Smart Glasses Rokid Glasses Launched
36Kr learned that the Rokid Glasses smart glasses were launched in Hong Kong, integrating artificial intelligence (AI) and augmented reality (AR) technologies. It is reported that the Rokid Glasses adopt binocular waveguide technology, and the virtual information interface can be displayed in real time on the lenses.
Compiled | Anya