Krypton Evening News | The cumulative output of China's first national shale oil demonstration area has exceeded 5 million tons; Douyin Live: Do not easily believe in online "auto - hanging" tutorials. The platform prohibits illegal behaviors such as recorded - video auto - hanging; Alipay announced that the fee reduction for small and micro merchants will be extended for another year.
Large Companies:
UBS Chairman Backs CEO Ermotti as Successor
Colm Kelleher, the chairman of UBS Group, has praised the idea of having CEO Sergio Ermotti as his potential successor. These remarks will intensify market speculation about the bank's leadership changes in the coming years. Kelleher said that he would be happy to see Ermotti take over his position if the conditions are right and there is an "appropriate" transition period.
36Kr learned that on September 25th, Douyin issued the "Announcement on the Governance of Pre-Recorded and Auto-Running Live Streams on Douyin Live". While publicizing the penalties for relevant illegal activities, it specifically reminded broadcasters not to trust online "pre-recorded live stream tutorials" to avoid personal property losses. It is understood that since 2025, the platform has imposed various degrees of penalties, such as warnings, interruptions, and bans, on more than 450,000 live stream rooms involved in "pre-recorded" and "auto-running" activities in accordance with the "Douyin Live Behavior Guidelines".
Lazada Has Connected Its System with Tmall. Merchants Can Sell to Southeast Asia with One Click
36Kr learned that during this year's Double 11, a number of Tmall brands will start selling both in China and Southeast Asia simultaneously, achieving double-digit business growth. As an upgrade of its brand strategy, Lazada connected its system with Tmall before this year's Double 11, adding five overseas markets, namely Malaysia, Singapore, Thailand, Vietnam, and the Philippines, for Tmall brands with zero barriers.
Alipay Announces to Extend the Fee Reduction for Small and Micro Merchants for Another Year
36Kr learned that Alipay has successively implemented measures such as "free cash-out since the launch of the collection code in 2017" and "a 10% discount on online payment service fees for small and micro merchants". In the past four years, Alipay has reduced fees for merchants by more than 26 billion yuan through the above-mentioned measures, benefiting more than 92 million merchants and small and micro-business operators. To better serve small and micro-businesses, Alipay has decided to extend the above-mentioned fee-reduction and profit-sharing measures for another year after their expiration, until September 30, 2026.
Tesla: The First Highway Sign for Tesla Supercharger Stations Is Set Up in the US
Tesla's official account posted on X: "The first highway sign for Tesla Supercharger stations is up. More are coming." Max de Zegher, the head of Tesla's North American charging business, retweeted the post and wrote: "The first national highway sign indicating a Tesla Supercharger station is in use. We plan to roll out this service on a larger scale. We hope this will help turn any range anxiety of the public into confidence in range."
On September 25th, a staff member of Zhang Xuefeng's team from Yantu Kaoyan said that Zhang Xuefeng's account was banned from follow-ups because his inappropriate remarks during the live stream violated platform rules and were reported. "The company is already handling it, and it should be resolved in the short term." A previous staff member of the team said in response to media interviews that they were in the process of self-reflection.
New Products:
Baidu Steam Engine Launches a General AI Long-Video Generation Function
36Kr learned that on September 25th, Baidu Steam Engine, the world's first Chinese audio-video integrated video generation model, was upgraded again and launched a general AI long-video generation function. It is understood that this function allows users to generate AI videos of unlimited length. This upgrade is the first in the industry, breaking through the previous limitations where AI could only generate short videos of 5 or 10 seconds or relied on the control of the first and last frames to continue the video length. It uses streaming generation technology to achieve "unlimited" generation capabilities for general long-videos.
Investment and Financing:
The CSRC Approves the IPO Registration of Haian Rubber on the Shenzhen Main Board
36Kr learned that the China Securities Regulatory Commission (CSRC) recently issued an approval for the initial public offering (IPO) registration of Haian Rubber Group Co., Ltd., approving the company's application for listing on the main board of the Shenzhen Stock Exchange.
Reports Say Naver Is in Talks to Acquire South Korea's Largest Cryptocurrency Exchange
According to people familiar with the matter, South Korean internet giant Naver will enter the digital finance field by acquiring Dunamu, the operator of South Korea's largest cryptocurrency exchange, Upbit, and making it a wholly-owned subsidiary of Naver. According to sources, Naver plans to conduct a full-scale stock exchange through its fintech subsidiary, Naver Financial, to make Dunamu its wholly-owned subsidiary.
British AI Infrastructure Company Nscale Completes $1.1 Billion Series B Financing
British AI infrastructure company Nscale announced on September 25th (local time) that it has completed the largest Series B financing in the history of the UK and Europe, with an amount of $1.1 billion. This round of financing was led by Norwegian Aker ASA, and existing shareholders, including Thornton Capital, continued to participate. At the same time, it received investments from Blue Cat Capital, Dell, Fidelity, G Squared, Nokia, Nvidia, Point72, and T.Capital.
Today's Views:
36Kr learned that on September 25th, at the 2025 JD Global Technology Explorer Conference, Xu Ran, the vice-chairperson of the SEC and CEO of JD Group, said in a speech that JD will continuously invest in the next three years to drive the formation of a trillion-scale artificial intelligence ecosystem. In the future, we will continue to increase investment in technology. Organizationally, we have upgraded the JD Exploration Research Institute, with founder Liu Qiangdong personally serving as the dean of the institute, and recruited artificial intelligence scientists globally. JD has also established in-depth cooperation with many universities and set up joint laboratories to conduct frontier exploration in fields such as artificial intelligence and supply-chain applications. Our goal is to continuously invest in the next three years to drive various industries and form a trillion-scale artificial intelligence ecosystem.
Other Noteworthy News:
36Kr learned that data released by the China Automobile Dealers Association showed that as of September 21st, the cumulative used-car transaction volume nationwide reached 1.216 million units, a 4.5% increase compared with the same period in August. Considering the characteristics of the seasonal peak season and the current transaction rhythm, the full-month transaction volume in September is expected to reach 1.77 million units, showing a steady increase compared with August.
The National Radio and Television Administration introduced that during the "14th Five-Year Plan" period, the export scale of radio, television, and audio-visual programs and services increased by more than 40%. The international versions of Chinese audio-visual platforms have reached more than 200 countries and regions around the world, with an annual overseas revenue of more than $63 billion. More than 300 Chinese micro-drama applications have been launched on overseas platforms.
The State Administration for Market Regulation recently stated that the advertisement placement on video platforms is related to the viewing experience of users and the legitimate rights and interests of consumers. Although advertising laws and regulations do not stipulate the advertisement countdown, the State Administration for Market Regulation attaches great importance to it and has promptly guided major film and television platforms to optimize the technical design of their advertisement placement systems, balance the relationship between increasing advertising business revenue and improving user experience, and effectively safeguard the legitimate rights and interests of consumers.
Today (September 25th), the cumulative output of the Jimsar shale oil in Xinjiang, China's first national-level continental shale oil demonstration area, has exceeded 5 million tons, marking that China's shale oil development has moved from technical exploration to a stage of stable output.