Krypton Evening News | The "Top 500 Private Enterprises in China in 2025" were released; The global user base of "Starlink" exceeded 7 million; It was rumored that Li Auto would release its first AI glasses as early as September, and Li Auto responded that the news was false.
Large Companies:
Speculative reports indicate Li Auto may debut its inaugural AI glasses as soon as next month, potentially aligning with the launch of new vehicle models. The rumors further claim that as part of Li Auto's strategic shift from automotive manufacturing to an AI-focused enterprise under its "All in AI" approach, the AI glasses project holds significant priority. While current development emphasizes AI shooting glasses, plans for full-color AR glasses are reportedly under consideration. When contacted for verification, Li Auto officially denied the September release timeline, advising the public to await official announcements.
Baidu pledges to cultivate 10 million AI talents within five years.
36Kr reports that during a recent State Council executive meeting, the "Guidelines on Deepening Implementation of the 'AI+' Initiative" were approved, outlining strategies for integrating AI technologies with industrial development and commercial applications. Baidu VP Shi Qinghua stated this policy marks China's entry into a new phase of comprehensive AI integration. Over the past decade, Baidu has cumulatively invested over 180 billion yuan in R&D. Having previously achieved its target of training 5 million AI professionals ahead of schedule, the company now commits to nurturing 10 million AI talents by 2029.
Starlink surpasses 7 million global subscribers.
Starlink announced on August 28 that its service now connects over 7 million users across approximately 150 countries and regions, delivering reliable high-speed internet access.
Buffett increases stakes in Japanese trading giants.
Berkshire Hathaway has expanded its holdings in Mitsubishi Corporation and Mitsui & Co., according to statements from the Japanese trading houses. This move triggered sector-wide stock price increases. Mitsubishi disclosed that Berkshire's stake grew to 10.23% (by voting rights) from 9.74% in March.
Rong360 appoints Amy Zhang as Global CFO.
36Kr has learned that former Alibaba and ByteDance financial executive Amy Zhang has joined Rong360 as Global Chief Financial Officer, responsible for overseeing domestic/international financial operations, tax planning, and capital strategies. She will also participate in strategic decision-making as a core member of the management committee.
New Products:
DPVR unveils 46-gram consumer-grade AI glasses.
36Kr reports DPVR has launched AI glasses targeting young consumers, with pricing to be revealed at the 2025 Baidu Cloud Intelligence Conference.
Xiaomi HyperOS 3 officially released.
Xiaomi announced HyperOS 3 on August 28, with phased rollouts starting August 29, 2025. Initial supported devices include Xiaomi 15 series, Xiaomi Pad 7S Pro 12.5, Xiaomi Pad 7 Pro, REDMI K80 Pro, and REDMI K80 Ultimate Edition.
Toyota achieves seventh consecutive monthly sales records in US and China.
Toyota reported record July production and sales globally, marking seven straight months of growth. Worldwide sales (including subsidiaries) rose 4% YoY to 963,796 units. North American sales surged 20% driven by trucks and SUVs, while Chinese sales increased 5.7%.
Investment and Financing:
Jijia Vision secures consecutive Pre-A and Pre-A+ rounds totaling hundreds of millions.
The Physical AI company completed Pre-A financing led by Guozhong Capital, followed by Pre-A+ funding from CICC Capital and others. Proceeds will support R&D for world models and embodied intelligence technologies.
Lingyu Intelligence closes tens of millions in Seed+ round.
The AI firm completed Seed+ financing led by Huaying Capital, with participation from existing investors including Inno Angel Fund and Tsinghua Shimura Investment.
Today's Views:
NVIDIA CEO Jensen Huang: AI demand surges as competition intensifies.
Following NVIDIA's Q2 FY2026 earnings release, CEO Huang stated: "The AI race has begun. Blackwell serves as the core platform for this competition, achieving remarkable generational leaps. Our NVLink rack-scale computing arrives as inference AI models drive exponential growth in training and inference performance."
Other Noteworthy News:
SAMR convenes market competition rectification meeting.
China's State Administration for Market Regulation emphasized strengthening enforcement against unfair competition, requiring enhanced case handling, guidance for corporate compliance, and establishment of long-term governance mechanisms.
2025 China Top 500 Private Enterprises list unveiled.
JD Group, Alibaba China, and Hengli Group top the list. The entry threshold rose to 27.023 billion yuan, with total R&D expenditure reaching 11.3 trillion yuan and average R&D intensity at 2.77%. Total tax payments hit 12.7 trillion yuan, with 48% of listed enterprises contributing over 1 billion yuan in taxes.