8:00 am, Yike Daily Update | Pop Mart released its semi - annual report. Wang Ning said it's easy to achieve 30 billion yuan in revenue this year; Foxconn has entered the peak recruitment period, and workers can earn over 20,000 yuan in March; Child - rearing subsidies distributed in accordance with regulations are exempt from individual income tax.

Today's Hot News Guide

• China Association of Automobile Manufacturers: Tesla and GAC Toyota's sales declined to varying degrees year-on-year
• Truck drivers rank first among new employment groups in terms of income, with a net income of over 10,000 yuan
• Hong Kong Stock Exchange: Starting at 9:00 am on August 25, the listing status of China Evergrande will be cancelled
• LV customer service responds to lipstick selling for 1,200 yuan: The ingredients and production are relatively high - end
• Beijing launches a shared power bank convention: Charges can only be made after 5 minutes of use

Top 3 Big News

Pop Mart Held Its 2025 Interim Results Press Conference, and Wang Ning Said It Would Be Easy to Achieve 30 Billion Yuan in Revenue

On August 20th, Pop Mart held its 2025 interim results press conference. Founder Wang Ning said at the meeting that the group had achieved its best performance ever. It is estimated that the annual revenue will be no less than 30 billion yuan. Compared with the figures, he is more concerned about the healthy growth of the group and the small numbers behind the big data growth. On August 19th, Pop Mart released its semi - annual report for 2025. The financial report showed that in the first half of the year, Pop Mart's revenue was 13.88 billion yuan, a year - on - year increase of 204.4%, and the adjusted net profit was 4.71 billion yuan, a year - on - year increase of 362.8%.

Wang Ning, the founder and CEO of Pop Mart, said that he hoped the revenue could reach 20 billion yuan this year. "But it feels like it should be easy to reach 30 billion yuan this year." (China New Finance)

Foxconn Enters Peak Recruitment Season Again: Maximum Earnings in 3 Months Can Reach 23,000 Yuan

As Apple's autumn product launch approaches and iPhone production enters its peak season, Zhengzhou Foxconn has entered its peak recruitment period. The base salary for returning workers in the A Port Area Business Group is 2,100 yuan per month. With overtime pay, a maximum return bonus of 8,000 yuan, and allowances/subsidies totaling 1,300 yuan, the estimated 3-month earnings range between 19,200 yuan and 23,000 yuan. Hourly workers can earn up to 26 yuan per hour, plus an additional 2 yuan hourly subsidy and an 800 yuan special bonus available only from Sunday to Wednesday.

The hourly wage at Foxconn Shenzhen's iDPBG department has also reached 26 yuan. Currently during Foxconn's peak recruitment phase, thousands of workers join daily. Labor agencies report particularly high demand in departments assembling Apple and Huawei smartphones. The iPhone assembly department, handling large order volumes, enables stable daily 10-hour shifts for workers. (Yicai Global)

Ministry of Finance and State Taxation Administration: Child - rearing subsidies distributed in accordance with the child - rearing subsidy system are exempt from individual income tax

36Kr learned that the Ministry of Finance issued an announcement on the individual income tax policy for child - rearing subsidies. It mentioned that in order to implement the relevant regulations of the "Implementation Plan for the Child - rearing Subsidy System" issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, child - rearing subsidies distributed in accordance with the child - rearing subsidy system are exempt from individual income tax; the health and health department, the finance department, and the tax department establish an information sharing mechanism, and the county - level health and health department handles individual income tax exemption declarations for subsidy applicants as required. The announcement shall come into force on January 1, 2025.

Large Companies/ Major Events

CAAM: The top ten SUV manufacturers in terms of sales from January to July sold a total of 5.599 million vehicles, with Tesla and GAC Toyota seeing varying degrees of year-on-year sales decline

According to the statistical analysis of the China Association of Automobile Manufacturers, from January to July 2025, the top ten SUV manufacturers in terms of sales sold a total of 5.599 million vehicles, accounting for 67.2% of the total SUV sales. Among the above ten enterprises, compared with the same period last year, Tesla and GAC Toyota saw varying degrees of sales decline, while the sales of other enterprises all increased to varying degrees.

 

Truck drivers rank first in terms of income among new employment groups, with an average monthly net income exceeding 10,000 yuan

Recently, the Institute of Employment and Livelihood at Renmin University of China released the "Investigation Report on the Employment and Living Conditions of Truck Drivers in 2025" (hereinafter referred to as the "Report"). The Report shows that the occupation of truck drivers ranks first among six types of new employment groups with a relatively obvious net income advantage. In 2025, the average monthly net income of truck drivers reached 10,512 yuan, far higher than that of other new employment groups. (Jiemian News)

Intel's Market Value Soars by $24 Billion, Valuation Reaches Level of Internet Bubble Era

After months of turmoil, the bulls of Intel Corporation have finally been rewarded for their patience. However, the sudden rebound of the stock is accompanied by a worrying side effect: its valuation has risen to the highest level since the Internet bubble era more than two decades ago. The share price of this troubled chipmaker has risen by 28% this month, adding about $24 billion to its market value, as reports suggest that the US government is in talks about a possible stake in the company, and Japan's SoftBank Group plans to invest $2 billion in it. Data compiled by Bloomberg shows that Intel's forward price - to - earnings ratio (based on expected profits in the next 12 months) is currently 53 times, the highest since early 2002. (Sina Finance)

HKEX: The listing status of China Evergrande will be cancelled starting at 9:00 a.m. on August 25

36Kr learned that the Hong Kong Exchanges and Clearing Limited (HKEX) announced that the listing status of China Evergrande will be cancelled in accordance with Rule 6.01A(1) of the Listing Rules starting at 9:00 a.m. on August 25, 2025.

Sony Raises the Price of All PS5 Models in the US by $50, Accessories Prices Remain Unchanged for Now

On August 20th, technology media The Verge published a blog post reporting that Sony plans to increase the prices of all three models of PlayStation 5 consoles in the US market starting from August 21st local time. Each model will see a price hike of $50, while the prices of related accessories remain unchanged for now.

Regarding the reasons for the price increase, Sony pointed out in an official blog post that on the one hand, it is due to "economic challenges," and on the other hand, it is affected by the tariffs on imported products in the US. (IT Home)

LV Customer Service Responds to Lipstick Priced at $1,200: Relatively High - end Ingredients and Production

On August 20th, LV's beauty mini - program launched its first batch of beauty products. Among them are multiple lipsticks with matte and satin finishes, priced at $1,200, and the replacement refills are priced at $510. In addition, 10 lip balms in different shades are also priced at $1,200.

The staff said that the lipsticks are uniformly priced at $1,200 because the product ingredients and production are relatively high - end. At the same time, the customer service also reminded that not all LV stores have beauty products. Since it is the first day of the product launch, whether there is a color - testing service depends on the time of arrival at the store. It may also be very popular, resulting in a large number of people queuing up. (Luzhong Morning Post)

The White House Launches TikTok Account to Promote Trump's Policies

The U.S. White House launched an official account on the short - video platform TikTok on the 19th to post relevant information and policy stances of U.S. President Donald Trump.

The White House released its first video on the night of launching the account. The video showed multiple scenes of Trump and was accompanied by the slogan he shouted in 2016. White House Press Secretary Kayleigh McEnany said that the Trump administration is committed to communicating its historic achievements to the American people through as many audience platforms as possible. (Phoenix TV)

Intel is in talks with other large investors and plans to issue additional equity at a discounted price to increase capital

People familiar with the matter said that Intel is negotiating with other large investors and hopes to obtain an equity injection at a discounted price. U.S. Commerce Secretary Luttig said on Tuesday that the U.S. government must obtain equity in Intel in exchange for the funds provided by the Chip Act. People familiar with the matter said that the chipmaker is now seeking an equity boost outside of SoftBank. They need funds to build what customers may really want in the end. The funds obtained through the Chip Act can be said to be free and without any strings attached. Turning them into equity won't help because it will dilute the equity. (Sina Finance)

Xiaomi's automotive gross profit margin exceeds that of Tesla

On August 19th, the financial report released by Xiaomi Group showed that in the first half of this year, the revenue of Xiaomi's innovative businesses such as smart electric vehicles and AI (hereinafter referred to as Xiaomi's automotive business) reached 39.84 billion yuan, with an operating loss of approximately 800 million yuan. Among them, in the second quarter of this year, the gross profit margin related to Xiaomi's automotive business had reached 26.4%, and the operating loss was narrowed to only 300 million yuan.

The automotive gross profit margin is an important indicator to measure the profitability of automobile manufacturers. According to the financial report data disclosed by automobile manufacturers this year, among the gross profit margins of 13 mainstream automobile manufacturers counted by reporters, a total of five automobile manufacturers had a gross profit margin exceeding 20%, including Seres, Xiaomi, Zeekr, Li Auto, and BYD.

Among them, Xiaomi's automotive gross profit margin in the second quarter has exceeded that of Tesla, ranking first among the automobile manufacturers that have announced their second - quarter gross profit margins. If the time span is extended to the first quarter of this year, Xiaomi's automotive gross profit margin is second only to Seres (27.6%), ranking second among the counted automobile manufacturers. (Yicai Global)

Game Science Officially Answers "Why Develop 'Black Myth: Zhong Kui' First?"

On August 20th, the second installment of the "Black Myth" series, "Black Myth: Zhong Kui," developed by Game Science, officially released its first CG teaser trailer and also made its debut at the pre - event press conference of Gamescom 2025. According to the information disclosed on Game Science's official website, "Black Myth: Zhong Kui" is the second work in the "Black Myth" series. It is a single - player action role - playing game with the famous character "Zhong Kui" from Chinese folk legends as its main creative source. Since it is still in the early stage of development, there is no in - game content available for display yet.

In the Q&A section on the official website, Game Science also responded to the question of "why develop Zhong Kui first": Currently, the story of the Celestial Mandate people has come to an end. The team is eager to try some more distinctive gaming experiences and also wants to create something new in terms of the world - view and narrative. Zhong Kui is a natural choice under the consideration of such a mindset and many other factors. Moreover, "The story of the Journey to the West won't end here." (Jimu News)

Zhu Guangyu Hot Pot Responds to Closure of All Stores in Changsha: No Impact on Operations in Other Regions

Recent reports indicate that all outlets of the renowned hot pot brand "Zhu Guangyu Hot Pot Restaurant" in Changsha have ceased operations. Some comments alleging "the boss has absconded" have emerged, while netizens disclosed they had recharged funds to pre-paid cards at the affected stores. Review platforms currently list 5 "Zhu Guangyu Hot Pot" locations in Changsha, all marked as temporarily closed/not yet operational. Journalists confirmed that contact numbers for these stores are no longer functional.

Brand representatives clarified that all stores in Hunan province (excluding Chenzhou) have temporarily suspended operations. Affected by the agent, they are currently taken over by the company, with reopening timelines pending official notification. The Changsha closures do not affect operations in other regions. The involved agent has deposited collateral with the company, enabling orderly refund processing for pre-paid cardholders. (Blue Whale News)

Beijing Launches Shared Power Bank Convention: Charges Only Apply After 5 Minutes of Use, Ensuring Sufficient Empty Slots in Cabinets

The Beijing Consumers Association has launched the "Self - regulatory Convention for the Shared Power Bank Industry in Beijing", suggesting that the time - counting unit for rental fees should not exceed 15 minutes and a cap price should be set. Currently, eight companies, including Monster, Meituan, and Jiedian, which cover 95% of the operating points in the city, have signed the "Convention" and promised to ensure the implementation of services through measures such as technological upgrades and staff training.

In terms of pricing, the "Convention" suggests that the time - counting unit for rental fees should not exceed 15 minutes. The fee for the first time - counting unit will only be charged after 5 minutes of use. From the second time - counting unit onwards, no fee will be charged if the usage time is less than one unit. At the same time, it stipulates that enterprises must publicly display the charging rules, including free usage time, charging standards, cap prices, and deposit policies, in a prominent position on the online rental page. (Beijing Business Today)

iPhone's Camera Button May Be Cancelled; Report Says Apple Has Stopped Ordering Components: Useless and Expensive

On August 20th, it was reported that the camera button on the iPhone will be cancelled. Apple introduced a camera control button on the iPhone 16 series last year. This button can be tapped, pressed firmly, and swiped to control functions such as taking photos and zooming on the camera. The button uses a capacitive design, which can sensitively detect the user's pressing force. A light press can achieve focus, while a firm press can take a photo, providing users with a tactile experience similar to the shutter of a traditional camera. In the past year, flagship models from OPPO, vivo, etc. have all added independent camera buttons. However, now there are reports that Apple, the first to use this feature, is going to abandon it.

According to the leak, Apple has informed its supplier partners that it will no longer order camera control buttons. Therefore, the iPhone 17 and iPhone 17 Pro series may be the last iPhone models to have camera control buttons. (Kuaikeji)

Musk hits back at US media's revelation that he suspended the plan to form a new political party: Never trust The Wall Street Journal

On August 19 local time, the US media outlet The Wall Street Journal reported, citing so - called people familiar with the matter, that billionaire Elon Musk has "quietly suspended the plan to launch a new political party called the 'American Party'." According to The Wall Street Journal, Musk has recently devoted part of his energy to maintaining his relationship with US Vice - President Vance. He also admitted to his partners that forming a new political party would damage his relationship with Vance, and he would "focus on the operations of his companies." The report also stated that Musk and his assistants have told Vance's close associates that "if Vance decides to run in the 2028 presidential election, Musk is considering using part of his financial resources to support him." The White House did not immediately respond to a request for comment on this report.

Musk posted on a social platform, saying, "Never assume that anything The Wall Street Journal says is true." (CCTV International News)

People familiar with the matter said that Trump is also considering taking stakes in other semiconductor companies funded by the Chip Act

Two people familiar with the matter revealed that U.S. Commerce Secretary Howard Lutnick is studying how the federal government can invest in semiconductor companies that have received funds for building factories under the Chip Act by taking stakes. A White House official and a person familiar with the matter said that on the basis of the existing plan to exchange cash grants for Intel's equity, Lutnick is exploring how the U.S. government can acquire equity in companies such as Micron, TSMC, and Samsung through the funds of the Chip Act. Most of the funds have not been disbursed yet. (Sina Finance)

Huang Zitao's sanitary napkin company establishes a new company in Jinhua with a registered capital of 10 million yuan

Data shows that on August 19th, Jinhua Duowei Hygiene Products Co., Ltd. was established. The legal representative is Xu Jiabin, and the registered capital is 10 million yuan. Its business scope includes the production and sales of hygiene products and single - use medical supplies, as well as the sales of personal hygiene products. Shareholder information shows that the company is wholly - owned by Zhejiang Duowei Nursing Products Co., Ltd., which is jointly held by Hangzhou Hengyan Technology Co., Ltd., Hangzhou Xinyan Cultural and Creative Co., Ltd., Hangzhou Longzeling Network Technology Co., Ltd., and Huang Zitao. It is worth mentioning that since the beginning of this year, Zhejiang Duowei Nursing Products Co., Ltd. has established four companies in Hangzhou, Ningbo, and Xiaogan. (Jiemian News)

It's rumored that FAW will acquire a 10% stake. Leapmotor responds: No comment. There have long been signs of capital cooperation

On August 20th, market rumors suggested that China FAW Group plans to acquire a 10% stake in Leapmotor, and the investment plan has been circulated and promoted within FAW. In response, Leapmotor stated that it would not comment. There have long been signs of capital cooperation between the two. China FAW responded by saying, "This is false information."

In March 2025, the two parties signed a strategic cooperation memorandum in Changchun, the location of FAW's headquarters. Qiu Xiandong, the chairman of China FAW, and Zhu Jiangming, the founder and chairman of Leapmotor, both attended. In this strategic cooperation, in addition to jointly carrying out the joint development of new - energy passenger vehicles and cooperation on components, the public statement also claimed that "the two parties will further explore the feasibility of deepening capital cooperation, and through capital cooperation, achieve resource synergy across the entire industrial chain." (Tencent Auto)

US Treasury Secretary: The US and China had a "very good dialogue" on economic and trade issues, and we expect to meet again before November

According to Reuters, US Treasury Secretary Bessent said in an interview on the 19th local time that the United States and China had a "very good dialogue" on economic and trade issues. Bessent said, "We had a very good dialogue with the Chinese side. I expect we'll meet again before November. I think the current work is going very smoothly." (Global Times)

ByteDance Denies Rumors: No AI Chip-related Cooperation with VeriSilicon

Industry sources reported that ByteDance is collaborating with VeriSilicon to design an advanced AI computing power chip. In response, a relevant person in charge at ByteDance replied that ByteDance has no AI chip-related cooperation with VeriSilicon. (Securities Times)

Air Canada Writes "Pay from Boarding" into Contract: Reaches Four-Year Agreement with Union, Three-Day Strike Ends

After more than nine hours of mediation and negotiation, the flight attendants' union reached a temporary agreement with Air Canada. Flight attendants have received "pay from boarding" for the first time. The strike has ended and members have returned to work, but it may take more than a week for Air Canada to return to full capacity. The agreement still needs to be voted on by the members. (Sina Finance)

Walmart Recalls Frozen Shrimp Sold in 13 U.S. States Due to Risk of Radioactive Contamination

On August 20th, Walmart, the largest retailer in the United States, recalled frozen raw shrimp sold in 13 states because the health department said these shrimp might have potential radioactive contamination. The U.S. Food and Drug Administration (FDA) asked Walmart to remove three batches of Great Value brand frozen shrimp from the shelves after federal officials detected cesium - 137 (a radioactive isotope) in containers and samples of breaded shrimp imported from Indonesia. FDA officials said that over time, these products could cause "potential health problems" for people exposed to low levels of cesium - 137. (Sina Finance)

Guangxi to Offer Free HPV Vaccinations for Eligible Girls

Multiple departments in the Guangxi Zhuang Autonomous Region, including the Health Commission, the Department of Finance, the Department of Education, the Women's Federation, and the Center for Disease Control and Prevention, have jointly issued the "Implementation Plan for the Free HPV Vaccination Project for Eligible Girls in Guangxi", officially launching the free human papillomavirus (HPV) vaccination project for eligible girls in Guangxi. According to the plan, nearly 960,000 eligible girls will receive free vaccinations within three years from 2025 to 2027. The plan specifies that, based on the principles of informed consent and free vaccination, all female junior high school students in Guangxi who are aged 13 but under 14 and have never been vaccinated against HPV can receive free domestic bivalent HPV vaccines. (Jiemian News)

Morgan Stanley: Mega-cap tech stocks like NVIDIA are underweighted and may rebound due to "technical forces"

Morgan Stanley released a research report stating that based on the institutional 13F filings for the second quarter of 2025, most mega-cap tech stocks are still underweighted relative to their weights in the S&P 500 index. Among them, NVIDIA, Microsoft, Apple, and Amazon are the most underweighted among the mega-cap tech stocks tracked by the bank. Meanwhile, Intuit, Oracle, and Dell Technologies are the most overweighted among the tech stocks tracked by the bank relative to their weights in the S&P 500 index. (Caixin)

Going public

Zebra Co., Ltd.

36Kr learned that Alibaba announced on the Hong Kong Stock Exchange that Zebra is seeking a separate listing of Zebra Co., Ltd. on the Main Board of the Hong Kong Stock Exchange. Zebra was once a subsidiary of the company and has not been included in the group's consolidated statements since December 27, 2024. As Zebra was deconsolidated in the company's most recent full financial year, in accordance with the note to Paragraph 2 of Practice Note 15, the company has submitted a spin - off plan to the Hong Kong Stock Exchange for the proposed spin - off, and the Hong Kong Stock Exchange has confirmed that the company can proceed with the proposed spin - off.

As of the date of this announcement, the company holds approximately 44.72% of the shares of Zebra, and Zebra is accounted for as an investee under the equity method by the company. It is now proposed that the proposed spin - off will be carried out through a global offering of Zebra's shares (including a public offering in Hong Kong and an international offering). After certain proposed adjustments to Zebra's equity structure and the completion of the proposed spin - off, the company will continue to hold more than 30% of the shares of Zebra, and Zebra will still be an investee under the equity method of the company.

Shenghong Technology (Huizhou) Co., Ltd.

36Kr learned that according to documents from the Hong Kong Stock Exchange, Shenghong Technology (Huizhou) Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange on August 20. J.P. Morgan, CSC International, and GF Securities (Hong Kong) are the joint sponsors.

Saitewell Electronics Co., Ltd.

36Kr learned that according to the website of the China Securities Regulatory Commission, Saitewell Electronics Co., Ltd. (hereinafter referred to as "Saitewell") completed the filing registration for counseling with the Ningbo Securities Regulatory Bureau on August 19, 2025. It plans to conduct an initial public offering of stocks and be listed on the A-share market. The counseling securities firm is CITIC Securities.

The Cutting - Edge of AI

OpenAI CFO: Will Consider Going Public at Some Point in the Future

OpenAI Chief Financial Officer Sarah Friar said on August 20th local time that the relationship with Microsoft is "changing", and Microsoft will be an important partner "in the next few years". OpenAI will consider going public at some point in the future. (Jiemian News)

Altman Previews GPT-6, Says It Will Arrive Sooner

Recently, Sam Altman, the CEO of OpenAI, revealed the company's future product development direction to the media in San Francisco. Although GPT-5 has just been launched, Altman has clearly stated that GPT-6 is on the way, and the time interval between its release will be shorter than that between GPT-4 and GPT-5.

According to Altman, GPT-6 will achieve breakthroughs in multiple aspects. It can not only respond to users' instructions but also make adaptive adjustments based on users' personal preferences, habits, and characteristics. Users can even use this model to create chatbots that match their personal styles. Altman emphasized that the memory function is the core element for achieving true personalization of ChatGPT. It needs to remember users' identities, preferences, daily habits, and unique features and make corresponding adjustments accordingly. He pointed out, "People desire the memory function. They want the product to understand them." (IT Home)

Oracle Deploys OpenAI GPT-5 in Database and Cloud Technology Application Portfolio

On August 20th, according to Oracle, Oracle has deployed OpenAI GPT-5 in its database product portfolio and SaaS application suite, including Oracle Fusion Cloud Applications, Oracle NetSuite, and Oracle Industry Applications (such as Oracle Health).

Financial Reports of Large Companies

Baidu: Net profit in Q2 reached 7.4 billion yuan, a year-on-year increase of 35%

36Kr learned that Baidu released its financial report for the second quarter of 2025. The report shows that Baidu achieved revenue of 32.7 billion yuan in the second quarter; the net profit attributable to Baidu Core was 7.4 billion yuan, a year-on-year increase of 35%.

Estée Lauder's net sales in fiscal year 2025 were $14.326 billion, a year-on-year decrease of 8%

Estée Lauder released its financial report for fiscal year 2025 ending on June 30 on August 20, showing that net sales were $14.326 billion, a year-on-year decrease of 8%. The net loss was $1.133 billion, and the adjusted loss per share was $3.15.

iQiyi: Total revenue in Q2 reached 6.63 billion yuan

36Kr learned that iQiyi released its financial report for the second quarter of 2025. The report shows that in the second quarter, iQiyi's total revenue was 6.63 billion yuan. Among them, the revenue from membership services was 4.09 billion yuan, the revenue from online advertising services was 1.27 billion yuan, the revenue from content distribution was 440 million yuan, and the other revenue was 830 million yuan. In that quarter, iQiyi's Non-GAAP operating profit was 58.7 million yuan, maintaining Non-GAAP operating profitability for 14 consecutive quarters.

Lao Pu Gold: Operating revenue in the first half of the year was 12.354 billion yuan, a year-on-year increase of 251%

36Kr learned that Lao Pu Gold released its financial report for the first half of the year. The financial report shows that for the six months ended June 30, 2025, the group's operating revenue was approximately 1.235 billion yuan, a year-on-year increase of 251.0%. The adjusted net profit under non-IFRS was 2.35 billion yuan, a year-on-year increase of 290.6%. According to Lao Pu Gold, the company adjusts prices two to three times a year. In the first half of 2025, the company only made one price adjustment in February. Affected by the continuous and rapid rise in the gold price after the price adjustment, the company's gross profit margin during the reporting period slightly declined to approximately 38.1% compared with the past.

Kingsoft Office: Net profit in the first half of the year was 747 million yuan, a year-on-year increase of 3.57%

36Kr learned that Kingsoft Office announced that the company achieved an operating income of 2.657 billion yuan in the first half of the year, a year-on-year increase of 10.12%. The net profit attributable to shareholders of the listed company was 747 million yuan, a year-on-year increase of 3.57%.

Compiled | Qiuxia