At 8 a.m., here are the latest news: Fat Donglai released interview questions for people released from prison; WeChat launched a new function allowing users to quote part of the text in chats; Lei Jun was selected as one of the world's most influential business leaders.

Going Public in Progress

Wolong Electric Drive

36Kr learned that Wolong Electric Drive announced that the company submitted an application to the Hong Kong Stock Exchange on August 13, 2025, for the issuance of overseas - listed shares (H - shares) and listing on the Main Board of the Hong Kong Stock Exchange. On the same day, the application materials were published on the website of the Hong Kong Stock Exchange. The application materials are in draft form, and investors should not make any investment decisions based on the information therein. The target investors for this issuance and listing will be limited to overseas investors meeting relevant conditions and qualified domestic investors.

Shunhao Co., Ltd.

36Kr learned that Shunhao Co., Ltd. announced that the company intends to plan the overseas issuance of shares (H shares) and list on the Main Board of the Hong Kong Stock Exchange to actively respond to the national policy call for accelerating the development of new - quality productive forces, promote the company's business transformation, and deepen the global strategic layout.

Chipsea Technologies

36Kr learned that Chipsea Technologies announced that the company intends to issue shares overseas and list on the Main Board of The Stock Exchange of Hong Kong Limited. The company will fully consider the interests of existing shareholders and the situation of domestic and overseas capital markets, and select an appropriate timing and issuance window to complete the issuance of H-shares and listing within the validity period of the resolution of the general meeting of shareholders.

Top 3 Big News

Fat Donglai Publishes Interview Questions for Released Prisoners

On the evening of August 14th, Yu Donglai posted on a social platform the interview questions that Fat Donglai has prepared for released prisoners. There are three major items, namely, reflection and summary on breaking the law; correct understanding and evaluation of one's own value; and planning for the future. Yu Donglai said that this is also the wisdom of sincerely sharing with the released prisoner group the ways and means to lead a happy life after entering society.

In terms of reflection and summary on breaking the law, released prisoners are required to think about and analyze the reasons for their crimes and consider the correct ways to solve the problems they once faced. Yu Donglai believes that "this question also helps more people figure out how to correctly solve problems and conflicts when facing them, so as to avoid falling into crime and causing regrets." (Phoenix.com)

Interview Questions of Fat Donglai

WeChat Announces the Launch of a New Feature: Partial Text Quoting in Chats

On August 14th, WeChat Pulse announced the launch of the function to quote partial text in WeChat chats. It is understood that previously, when making a quoted reply in WeChat, only the entire text message could be quoted.

Now, when there is a long text and you only want to quote a certain highlight part, you can manually select the partial text to quote, and only the part of the text you select will be shown in the quote. After quoting, you can also send emoticons, photos, text, and voice messages as replies. In addition to the partial text quoting function, WeChat has also fully launched the anti - fraud assistant function recently, which warns users who may face fraud risks in multiple WeChat scenarios. (Kuaikeji)

Lei Jun Named One of the World's Most Influential Business Leaders

This year, Fortune magazine released its list of the most influential business leaders for the second time. Lei Jun, the founder of Xiaomi, the world's third-largest smartphone manufacturer, has been named one of the world's most influential business leaders. According to the official introduction, Lei Jun has long regarded Steve Jobs as a role model. However, Lei Jun has now achieved what Apple has not: producing electric vehicles. Lei Jun said that since its launch in 2024, more than 240,000 units of Xiaomi's first car model, the SU7, have been sold. Xiaomi's latest model, the YU7 SUV, received 200,000 pre-orders just three minutes after its launch. Xiaomi, known for its smartphones, now hopes to sell 350,000 cars this year. (Sina Tech)

Big Companies/Big Events

Customer service responds to the name change of the Tmall Wahaha flagship store to "Tongyuankang Food Franchise Store": No longer associated with Wahaha

Recently, some netizens said that the name of the "Tmall Wahaha flagship store" where they had previously purchased goods has been changed to "Tongyuankang Food Franchise Store". The netizen questioned whether the account of the Tmall Wahaha flagship store had been sold. By searching for the "Tongyuankang Food Franchise Store" on Tmall, it was found that the store has been in business for 7 years. The registered enterprise is Tongyuankang E-commerce (Hangzhou) Co., Ltd., which was established in 2011 and is located in Hangzhou, Zhejiang Province. Its registered capital is 10 million RMB, and the legal representative is Ye Hong.

On August 13th, Sina Technology consulted the customer service of the Tmall Tongyuankang Food Franchise Store about this matter. The customer service staff said that the store is currently independently operated. It was indeed the Tmall flagship store of Wahaha before, but now both the store name and operation are in an independent state and have no association with Wahaha. (Sina Technology)

Residential Provident Funds in Multiple Regions Support Down Payment

On August 13th, the Tianjin Housing Provident Fund Management Center announced that Tianjin has introduced a new measure allowing the withdrawal of housing provident funds to pay the down payment for purchasing second - hand houses. Currently, the housing provident fund policy has become an important means for local governments to support housing consumption. In addition to supporting down - payment payments, various regions have also optimized the criteria for determining the number of times of using housing provident fund loans and expanded the scope of provident fund withdrawals. Zhang Bo, the dean of the 58 Anjuke Research Institute, said that as the policy effects gradually emerge, the differentiated and refined housing provident fund policies may become a regular tool for real - estate market regulation. (Securities Daily)

The production company of Zheng Shuang's TV series was enforced with an execution amount of 5.65 million yuan

On August 14th, a reporter from Sanxiang City Express learned from a third - party platform that recently, Haining Dongkai Zhixing Film and Television Investment Co., Ltd., the production company of Zheng Shuang's TV series "Jade Lover", had a new piece of information as an executed person. The execution target was more than 5.65 million yuan, and the executing court was the People's Court of Miyun District, Beijing.

The company was established in July 2014. Its legal representative is Lian Haiyun, with a registered capital of 20 million yuan. Its business scope includes the design of film and television props and costumes, the research and development of film and television production technology, conference and exhibition services, etc. Shareholder information shows that the company is wholly - owned by Beijing Century Dongyao Culture and Media Co., Ltd. (Sanxiang City Express)

Creator of "Two Butterflies" Responds to Earning 200 Million from the Song: The Ringtone Was Downloaded Over 200 Million Times, and I Earned 5,000

Recently, there were reports that Niu Zhaoyang, the lyricist and composer of "Two Butterflies", earned 200 million from the song. In response, he said that he wrote this song for his long - distance girlfriend at that time. The ringtone, which cost 2 yuan each, had a download volume of about 260 million to 280 million. Some fans who sold cassette tapes before told me that they earned a lot from this song. And my own income will shock you even more. The total income this song brought to me was only 5,000 yuan.

According to the Aiqicha App, "Two Butterflies" has been applied for trademark registration by a technology company in Dalian, an e - commerce company in Wuhan, and several natural persons. The international classifications include jewelry and watches, catering and accommodation, clothing and footwear, etc. Currently, some of the above trademarks have been successfully registered. (Shenzhen News Network)

Parents' Claim Against Car Manufacturer Rejected After Daughter's Seat Adjustment Leads to Son's Suffocation

The Shanghai Higher People's Court recently made public a legal case. The plaintiffs, Zong Mou1 and Wu Mou1, are a couple with a daughter, Zong Mou2 (5 years old), and a son, Zong Mou3 (2 years and 7 months old). On May 1, 2023, Zong Mou1 was driving a commercial vehicle with his wife, Wu Mou1, and their two children. Around 10:30 a.m., when Zong Mou1 stopped at an intersection waiting for the traffic lights, his wife noticed that their daughter had adjusted the seat very low. When she turned around, she found that the seat was pressing on the son's head. At this time, Zong Mou3 lost consciousness in the car with his whole body turning blue. The parents immediately sent Zong Mou3 to the hospital for treatment, but he died despite rescue efforts. The cause of death was hypoxic-ischemic encephalopathy.

After that, the couple sued an automobile company in court, claiming that the vehicle involved in the case had design defects and lacked obvious warning signs, and that the defendant had failed to fulfill its warning obligation. They requested the court to order the defendant to publicly apologize and compensate them 2 million yuan. The Pudong New Area People's Court of Shanghai investigated and found the following facts: The vehicle involved in the case was a small ordinary passenger car produced by the automobile company. The vehicle's "User Manual" had instructions about "Warnings, Cautions, and Notes" and mentioned in the "Seats and Protection Devices" section that "To reduce the risk of injury, a child protection device must be installed in the vehicle" and "Warning: If a child is not properly placed in a child protection device, the child may suffer serious or even fatal injuries in a collision." The judge held that in this case, the plaintiffs had multiple failures in guardianship: First, they did not use a safety seat for the two-year-old toddler; second, they allowed the toddler to be out of their supervision while the vehicle was moving, let the 5-year-old child operate the seat on her own, and did not pay attention to the children's movements for a long time. The court rejected the plaintiffs' claim. (China Newsweek)

After the work stoppage and production halt storm, Romoss is recruiting for industrial design positions with an annual salary starting at 600,000 yuan

Recently, information on Liepin.com shows that Shenzhen Romoss Technology Co., Ltd. currently has two positions open for recruitment, namely gift channel sales and industrial design consultant. The salary range for the gift channel sales position is from 12,000 yuan to 30,000 yuan. The salary for the industrial design consultant position is even more attractive, reaching 40,000 yuan to 55,000 yuan × 15 months' pay. Calculated in this way, the annual salary is between 600,000 yuan and 825,000 yuan. It is worth noting that the relevant person in charge responsible for the recruitment positions logged in to the recruitment website recently. Currently, the gift channel sales position has been taken off the shelves, and the industrial design consultant position is still being recruited. (New Yellow River)

A 150 - million - yuan historical mansion in Shanghai fails to sell at auction, once a filming location for "Nothing But Thirty"

At 10 a.m. on August 14th, a century - old mansion in Shanghai, which was a filming location for TV dramas such as "Nothing But Thirty" and "All Is Well", was put up for auction on an auction platform for the first time, ending in a failed sale. According to data from the Alibaba Auction platform, the starting price of the mansion was 150 million yuan. The auction started at 10 a.m. on August 13th and ended at 10 a.m. on the 14th, attracting more than 23,000 onlookers and nearly 600 people setting up reminders. However, no one signed up to bid during the entire bidding period. A staff member of the auction house said that many people came to view the property after the auction went live, but they were not sure why no one placed a bid. Currently, they are communicating about a second auction and expect it to be put up for auction again. (Jiemian News)

The Second Instance of the Poisoning Case in Xiangtan University Dormitory Upholds the Original Judgment, Zhou Liren Sentenced to Death

On August 14, the Higher People's Court of Hunan Province pronounced the second - instance verdict on the intentional homicide case of the appellant Zhou Liren. It legally ruled to dismiss the appeal and uphold the original judgment. The death penalty ruling for the appellant Zhou Liren was legally submitted to the Supreme People's Court for approval. The first - instance court held in its trial that the defendant Zhou Liren, out of personal grudges, put highly toxic substances into a canned cereal shared by two roommates in the dormitory, resulting in the death of Zhang Moumou. His act constituted the crime of intentional homicide. Zhou Liren was dissatisfied with his roommates over daily trivial matters. He took advantage of his professional knowledge and seized the opportunity to poison them with the intention of killing the two roommates. Zhou Moumou survived because he did not eat the poisoned cereal. During Zhang Moumou's rescue after being poisoned, Zhou Liren deliberately concealed the facts, delaying the treatment, which ultimately led to Zhang Moumou's death due to multiple organ system failure. After the incident, he attempted to conceal and destroy important physical evidence to cover up his crime and avoid punishment. His criminal motive was despicable, his subjective malignancy was extremely deep, the social impact was bad, and the crime was extremely serious. On April 7, 2025, the Intermediate People's Court of Xiangtan City sentenced the defendant Zhou Liren to death and deprivation of political rights for life in the first - instance trial for the crime of intentional homicide. After the first - instance judgment was pronounced, Zhou Liren filed an appeal. The Higher People's Court of Hunan Province held a public second - instance hearing on the case on July 11, 2025. The facts found in the second - instance trial were consistent with those in the first - instance trial. The Higher People's Court of Hunan Province held that the criminal facts identified in the first - instance judgment were clear, the evidence was true and sufficient, the conviction was accurate, the sentencing was appropriate, and the trial procedure was legal. Therefore, it legally made the aforementioned ruling. During the second - instance trial, the court legally guaranteed all the litigation rights of Zhou Liren and his defense lawyer. (Xinhua News Agency)

The Turmoil over the Transfer of Control Rights of Liangpinpuzi Intensifies

On the evening of August 13th, Liangpinpuzi announced that its controlling shareholder, Ningbo Hanyi Venture Capital Partnership (Limited Partnership) (hereinafter referred to as Ningbo Hanyi), was involved in an equity dispute lawsuit with Guangzhou Light Industry and Trade Group Co., Ltd. (hereinafter referred to as Guangzhou Light Industry). The amount involved in the case had increased from the previous 996 million yuan to 1.023 billion yuan.

Liangpinpuzi stated that the lawsuit had no significant impact on the company's production, operation, and current profits and losses. Currently, the case had not yet been heard in court, and the final result could not be determined. It might lead to uncertainties in the transfer of control rights between Ningbo Hanyi and Wuhan Yangtze River International Trade Group Co., Ltd. (hereinafter referred to as Yangtze River International Trade). (Jiemian News)

Wang Yibo Sues Putian Shoe Manufacturers

On August 14th, the topic of "Wang Yibo suing Putian shoe manufacturers" attracted a great deal of attention. According to the announcement of the Fujian Provincial Higher People's Court, a case of disputes over the right of portrait between the plaintiff Wang Yibo and multiple enterprises including Putian Laile E-commerce Co., Ltd., Putian Laile Investment Co., Ltd., and Putian Laile Shoe Store (self - employed business) is expected to be heard at the Licheng District People's Court of Putian City, Fujian Province on September 2nd.

It is reported that in July 2024, the defendant brands claimed to have a cooperative relationship with Wang Yibo. Some media inquired with Wang Yibo's side, and the response was: "There is no cooperation. It is definitely an infringement." (Jiemian News, Dahe Daily)

30% of Tencent's new headquarters campus has been completed, and 11 Tencent Penguin Apartments are open to young people

On the afternoon of the 14th, Tencent officially issued a statement to introduce the progress of its newly built headquarters campus. The official said that currently, 30% of the campus has been completed as planned. Starting from October this year, the completed area will enter the trial - operation phase. Meanwhile, 11 Penguin Apartments will be open to young people. The official said that the apartments are fully equipped with household appliances, and employees can move in with just their personal belongings. They are also equipped with leisure facilities such as shared living rooms, gyms, learning centers, interest classrooms, and public kitchens to provide employees with a comfortable living environment. The Penguin Apartments will be prioritized for reservation and occupancy by employees without their own housing who work in the campus. (Sina Technology)

The three major U.S. stock indexes closed mixed, and most popular Chinese concept stocks weakened

36Kr learned that at the close on August 14, the three major U.S. stock indexes showed mixed performance. The Dow Jones Industrial Average fell 0.02%, the Nasdaq Composite Index dropped 0.01%, and the S&P 500 Index rose 0.03%. Popular Chinese concept stocks had mixed performances. Amazon and Netflix rose more than 2%, while Microsoft, Google, Meta, and NVIDIA had slight increases. Tesla fell more than 1%, and Apple declined slightly. Most popular Chinese concept stocks weakened. Li Auto fell more than 4%, Alibaba, NetEase, XPeng Motors, and NIO dropped more than 3%, and JD.com, Baidu, iQiyi, and Bilibili fell more than 2%. Weibo rose more than 11%.

Kodak Unable to Repay $3.5 Billion in Debt Currently, Imaging Giant Faces Another Survival Crisis

On August 14th, it was reported that Eastman Kodak Company (hereinafter referred to as "Kodak", KODK.US), a century - old American imaging giant, is facing another survival crisis. Recently, Kodak's latest financial report showed that multiple financial indicators of the company deteriorated in the second quarter, with a net loss of $26 million, turning from profit to loss year - on - year. Kodak warned in the financial report that the company lacks a definite financing channel or available working capital to repay approximately $500 million (equivalent to about 3.59 billion RMB) in debt that is about to mature. "This casts significant doubts on the company's ability to continue as a going concern." Kodak was founded in 1892 and has a history of 133 years. In 1930, Kodak held 75% of the global photographic equipment market share and 90% of the profits, once being the absolute hegemon in the global photography market. However, it was finally pulled off the "altar" by the digital camera it invented. (Red Star News)

Li Auto to Abolish the Five - Region Structure

36Kr exclusively learned that Li Auto held an internal meeting on the 14th and announced an adjustment to the organizational structure of its sales and service system. The "five major regions" established by region in March this year have been abolished, and the direct provincial - district management system has been re - implemented. Han Xi, the former head of the central region, will be recalled to his previous position and will resume his role as the head of retail. In addition, to provide more support for the sales system, Li Auto has newly established two first - level departments. One is the Marketing Department, headed by Feng Wei; the other is the Sales and Service Operations Department, whose main responsibility is to coordinate all sales and service departments horizontally to ensure the high - quality achievement of sales and service goals, and it is led by Ma Donghui. It is understood that Ma Donghui will still be in charge of the adjusted sales and service system of Li Auto.

Is Douyin Testing a "Courier" Service? Insider: It Can Only Query Information on Individual Parcels and Has Nothing to Do with E-commerce Platforms

On August 14th, there were reports in the market that Douyin is testing a "My Couriers" service. This feature is located in the wallet section of the Douyin App, sharing the same traffic position as other lifestyle features such as Douyin Pay and the ride-hailing service. An insider close to Douyin said that the "My Couriers" feature is designed to facilitate users in querying their courier information, and it is currently only in a gray-scale test. It can only query information on individual parcels and has nothing to do with e-commerce platforms. (Caixin)

NetEase Cloud Music's in-car version releases its first lyric animation player, now available on BYD vehicles

36Kr learned that on August 13th, the "Divine Light Mode" skin of NetEase Cloud Music player was officially launched on the in-car version. As one of the first partner automakers to support this feature, BYD has currently launched the "Divine Light Mode" on some DiLink models, and more models will support this feature successively.

DJI Responds to Online Rumors of Sales Department Restructuring and Departure of Two Leaders: Report Is False

On August 14th, there were reports that DJI's sales department had recently undergone a major internal restructuring, and the department head Zheng Zhe and the head of the Latin American region, Xiran Huang, had left the company recently. In addition, many employees in the sales department have left one after another due to the expiration of their contracts. Most of these employees joined DJI around 2019 - 2020. In response to the above information, DJI stated that the content of the report has serious factual deviations and the reporter did not confirm or communicate any information with the company. The company is dealing with this false report and reserves the right to pursue legal liability for the infringement. (Sina Technology)

Taotian Group has internally changed its name to China E-commerce Business Group - Taotian Group, running parallel to Ele.me and Fliggy

It is reported that after Fliggy and Ele.me were incorporated into Alibaba's China E-commerce Business Group, it is understood that the internal structure of Taotian Group has been further clarified recently. That is, it has changed its name from the original Taotian Group to China E-commerce Business Group - Taotian Group, which is in a parallel relationship with Ele.me and Fliggy. (Caixin Press)

Tencent Yuanbao Integrates with JD.com

36Kr learned that recently, Tencent Yuanbao launched a new feature that supports direct jumps to JD.com to purchase physical books. In the future, if a book title appears in a Yuanbao answer and the book is available on JD.com, the title will automatically be underlined. After users click on it, they can jump to JD.com to make a purchase. Previously, Yuanbao already supported jumps to WeChat Reading and Qidian Reading for online reading.

Two months after the "60-day payment term" commitment, some listed automakers take the lead in "genuinely and promptly paying"

From June 10th to 11th this year, 17 domestic automakers publicly pledged that supplier payment terms would not exceed 60 days. Sixty days have passed since the public commitment. On August 13th, reporters learned through interviews with listed automakers including GAC Group, Seres, and XPeng Motors that relevant enterprises are actively implementing the "60-day payment for goods" commitment. They are simultaneously establishing full-process control systems. While fulfilling the responsibility of timely payments, these companies are leveraging various innovative models to further ensure the implementation of payment terms. (Shanghai Securities News)

CSSC Heavy Industry: Application for Voluntary Delisting of A-shares Submitted to the Shanghai Stock Exchange on August 14

36Kr learned that CSSC Heavy Industry announced on August 14 that CSSC plans to absorb and merge CSSC Heavy Industry through an exchange of shares by issuing A-shares to all shareholders of CSSC Heavy Industry. The relevant matters have been reviewed and approved by the company's first extraordinary general meeting of 2025 held on February 18, 2025, and have obtained the "Approval on Consenting to the Registration of CSSC for the Absorption and Merger of CSSC Heavy Industry" issued by the China Securities Regulatory Commission. The company submitted an application for the voluntary delisting of its A-shares to the Shanghai Stock Exchange on August 14, 2025.

Musk Says Google Leads Temporarily in AI, Hinting xAI Will Overtake

Elon Musk posted on X on the 13th, admitting Google's current leading position in the field of artificial intelligence, but hinting that his AI startup, xAI, will catch up. When replying to a post from an X user praising xAI's leading position in the field of AI, Musk said, "For the foreseeable future, large AI companies will continue to thrive, and so will xAI. There's so much to do!" (Sina Finance)

The Cutting - Edge of AI

ZhiYuan Robotics Releases Genie Envisioner, the Industry's First Open-Source Platform for Robot World Models

36Kr learned that according to ZhiYuan Robotics, the company has launched Genie Envisioner (GE), a unified world model platform for real-world robot manipulation. Different from the traditional fragmented pipeline model of "data - training - evaluation", GE integrates future frame prediction, strategy learning, and simulation evaluation into a closed-loop architecture centered around video generation for the first time, enabling robots to complete end-to-end reasoning and execution from "seeing" to "thinking" and then to "acting" within the same world model.

Co-founder of xAI Leaves to Launch AI Venture Capital Firm

Igor Babuschkin, co-founder of Elon Musk's artificial intelligence company xAI, posted on August 13 (local time) that it was his last day at xAI. He will leave the company that he co-founded with Musk in 2013, and he is proud of the company's growth. Babuschkin said that he will start a new chapter in his life by establishing Babuschkin Ventures. This fund supports AI safety research and backs startups in the fields of artificial intelligence and agent systems.

Agency: Global smart glasses shipments soared 110% year-on-year in the first half of the year, with Meta holding over 70% of the market share

36Kr learned that according to the "Global Smart Glasses Model Shipment Tracking" report by Counterpoint, the shipments of the international smart glasses market in the first half of 2025 increased by 110% year-on-year. The strong demand for Ray-Ban Meta smart glasses and the entry of new manufacturers such as Xiaomi, RayNeo, and some small brands drove this growth. AI smart glasses accounted for 78% of the total shipments in the first half of 2025, up from 46% in the first half of 2024 and 66% in the second half of 2024, mainly due to the dominance of Ray-Ban Meta AI glasses. The annual growth of the artificial intelligence glasses segment exceeded 250% year-on-year, far outpacing the overall market.

Financial Reports of Large Companies

Master Kong Releases Mid - Year Performance Report: Beverage Revenue Drops by 700 Million After Price Hike

On August 11th, Tingyi (Cayman Islands) Holding Corp. released an announcement disclosing its mid - year performance for 2025. During the period, the group achieved revenue of 40.092 billion yuan, a year - on - year decrease of 2.7%; and recorded a net profit of 2.688 billion yuan, a year - on - year increase of 20.3%. In terms of business segments, Master Kong's revenue mainly comes from two major businesses: instant noodles and beverages. In the first half of 2025, its instant noodle business revenue was 13.465 billion yuan, a year - on - year decline of 2.5%; the beverage business revenue was 26.359 billion yuan, a year - on - year decline of 2.6%, selling 706 million yuan less than the same period in 2024.

The decline in sales volume caused by price hikes is also one of the reasons for the decline in Master Kong's beverage business revenue. In the first quarter of 2024, Master Kong raised the prices of its 1L iced black tea, green tea, jasmine honey tea and other beverages. The terminal price increased from 4 yuan to 4.5 - 5 yuan. However, when asked whether Master Kong would lower the prices of the beverages whose prices had been adjusted, the management responded that although the beverage business would continue to face challenges in the second half of this year, the company would not lower the prices of the beverages whose prices had been adjusted. (Times Weekly)

Weibo: Revenue Reached $3.2 Billion in Q2, Adjusted Operating Profit Reached $1.158 Billion

36Kr learned that Weibo released its financial report for the second quarter of 2025. In the second quarter, Weibo's total revenue was $444.8 million, approximately equivalent to 3.2 billion yuan. The adjusted operating profit in the second quarter was $161.8 million, approximately equivalent to 1.158 billion yuan, exceeding Wall Street's expectations. In terms of commercialization, Weibo's advertising revenue in the second quarter reached $383.4 million, approximately equivalent to 2.756 billion yuan. In terms of users, as of the end of the second quarter, Weibo's monthly active users reached 588 million, and its daily active users reached 261 million.

Lenovo Group: Quarterly revenue increased by 22% year-on-year to 136.2 billion yuan

36Kr learned that Lenovo Group announced its financial results for the first quarter of the 2025/26 fiscal year ended June 30, 2025. The quarterly revenue increased by 22% year-on-year to 136.2 billion yuan, hitting a record high for the same period. The net profit under non-Hong Kong Financial Reporting Standards increased by 22% year-on-year to 2.816 billion yuan. The Intelligent Devices Group (IDG) achieved revenue of 97.3 billion yuan, a year-on-year increase of 17.8%. The revenue of the Infrastructure Solutions Group (ISG) increased by 35.8%. The revenue of the Solutions & Services Group (SSG) increased by 19.8%, and the operating profit margin reached 22.2%.

NetEase: Revenue Reached 27.89 Billion Yuan in Q2, Up 9.4% Year-on-Year

36Kr learned that NetEase released its financial report for the second quarter of 2025. The report shows that the revenue in the second quarter was 27.89 billion yuan, a year-on-year increase of 9.4%; the net profit attributable to the company's shareholders under non-GAAP was 9.5 billion yuan; the R & D investment was 4.4 billion yuan, with an R & D investment intensity of 15.6%. Among them, the net revenue of games and related value-added services this quarter was 22.8 billion yuan. The net revenue of Youdao, a subsidiary of NetEase, reached 1.4 billion yuan; the net revenue of NetEase's innovation and other businesses was 1.7 billion yuan.

JD.com Group: Q2 Revenue Reached 356.7 Billion Yuan, a Year-on-Year Increase of 22.4%

36Kr learned that JD.com Group released its financial report for the second quarter of 2025. The report shows that this quarter's revenue reached 356.7 billion yuan, a year-on-year increase of 22.4%. The net profit attributable to the company's common shareholders was 16.2 billion yuan, and the non-GAAP net profit attributable to the company's common shareholders was 7.4 billion yuan. It is understood that JD Retail's revenue increased by 20.6% year-on-year this quarter, and the operating profit margin reached 4.5%, setting a record high for all major promotion quarters in the company's history in the second quarter. In addition, JD's food delivery business is developing healthily. It is reported that during the JD 618 promotion, the daily order volume of the food delivery business exceeded 25 million, and the number of high - quality merchants settled exceeded 1.5 million. As of the end of the second quarter, the scale of full - time riders had exceeded 150,000.

Vipshop: Net revenue in Q2 reached 25.8 billion yuan, and GMV increased to 51.4 billion yuan

36Kr learned that Vipshop released its financial report for the second quarter of 2025. The report shows that Vipshop achieved a net revenue of 25.8 billion yuan in the second quarter, and a Non - GAAP net profit of 2.1 billion yuan. Meanwhile, the Gross Merchandise Volume (GMV) in the second quarter was 51.4 billion yuan, a year - on - year increase of 1.7%. The number of active Super VIP (SVIP) users increased by 15% year - on - year, contributing 52% of online sales. In the first half of 2025, Vipshop returned more than 600 million US dollars to shareholders through stock buybacks and dividends.

Investment and Financing

"Dagong Technology" Secures Tens of Millions in Investment from Ivy Capital

36Kr has learned that "Dagong Technology" recently completed a new round of financing worth tens of millions of RMB, with the investor being Ivy Capital. The funds from this round will be used for production line construction, technology R & D, and global market expansion to accelerate the large - scale application of its core product, the tethered drone, in scenarios such as emergency firefighting and national defense communication.

Compiled | Anya