At 8:00, here are the latest news: Fat Donglai announces that all released prisoners will be recruited; Xiaomi 17 series smartphones are officially launched, with a starting price of 4,499 yuan; Xibei deletes the controversial article.
Today's Hotspot Guide
HongSheng Beverage has applied for multiple trademarks for "Wa Xiaozong".
Xibei has applied for multiple intellectual property rights related to "If you have a baby, eat at Xibei".
The fully concealed door handles for cars are about to be phased out.
Zhang Xuefeng's team responds again to the "account being banned from new followers".
Jensen Huang has sold Nvidia shares for four consecutive months, cashing out hundreds of millions of dollars.
Top 3 Big News
Fat Donglai Announces Full Recruitment of Released Prisoners
On September 17th, 30 released prisoners (hereinafter referred to as "released inmates") went to Xuchang Fat Donglai Times Square to participate in an interview.
Previously, on August 8th, Yu Donglai, the founder of Fat Donglai, said on a social platform that the Xinxiang Fat Donglai "San Pang" store, which is expected to open in October this year, has officially started recruiting. It is expected to recruit 1,000 people, with 2% of the positions reserved for released inmates. The subsequent recruitment information showed that released inmates have a dedicated resume submission channel. 30 resumes will be received, and 20 people will be finally recruited.
The released inmates who participated in the interview said that Fat Donglai announced on - site that all 30 of them were admitted. Subsequently, positions will be allocated according to their respective situations. After joining the company, there will be a six - month probation period for "mutual selection". (Dahe Daily)
Lei Jun: Xiaomi 17 Series Phones Launched, Starting at 4,499 Yuan
36Kr learned that Lei Jun, the CEO of Xiaomi Group, launched the brand - new Xiaomi 17 series of phones at the press conference. The starting price is 4,499 yuan (12GB + 256GB). In addition, the 12GB + 512GB version is priced at 4,799 yuan, and the 16GB + 512GB version is priced at 4,999 yuan. The Xiaomi 17 series globally debuts the fifth - generation Snapdragon 8 Extreme Edition, which uses the third - generation 3nm process technology with the highest main frequency of 4.6GHz in the history of mobile platforms. It is equipped with a 7000mAh Xiaomi Jinshajiang battery.
Moreover, the Xiaomi 17 Pro series is officially launched, starting at 4,999 yuan, and all models in the series are equipped with the "Magic Sharing Rear Screen". The Xiaomi 17 Pro Max series of phones is also launched simultaneously, featuring a new "Super Pixel" low - power screen, with a starting price of 5,999 yuan.
Xibei Deletes the WeChat Official Account Article "Seven - year - old Maomao: I Thought I Could Never Eat at Xibei Again"
On September 23rd, Xibei's WeChat official account published an article titled "Seven - year - old Maomao: I Thought I Could Never Eat at Xibei Again". From the perspective of a seven - year - old child named Maomao, the article tells the story of Maomao, who started eating at Xibei since the age of two. Maomao's mother didn't allow him to go to Xibei because of recent news. Maomao cried and made a fuss. Even when his mother tried to "tempt" him with toys, he still wanted to abide by the "agreement" with Xibei. Finally, his mother changed her mind.
The article was questioned by many netizens, with comments like "The public relations department is really a total failure" and "Emotional hype is prohibited". Currently, Xibei has deleted this article. (Yicai Global)
Xibei's WeChat Official Account
Big Companies/Important Events
The three major U.S. stock indexes closed down collectively, while most popular Chinese concept stocks rose
36Kr learned that at the close on September 25th, the three major U.S. stock indexes fell collectively. The Dow Jones Industrial Average dropped 0.38%, the S&P 500 Index declined 0.5%, and the Nasdaq Composite Index fell 0.5%. Most large technology stocks fell. Oracle dropped more than 5%, Tesla declined more than 4%, Meta fell more than 1%, and Amazon, Microsoft, and Google dipped slightly. Intel rose more than 8%, Apple climbed more than 1%, and Nvidia and Netflix edged up slightly. Most popular Chinese concept stocks rose. NIO, XPeng Motors, and Bilibili climbed more than 4%, Baidu, Futu Holdings, and Li Auto rose more than 1%. Miniso dropped more than 3%, Weibo declined more than 1%, and Alibaba and Tencent Music dipped slightly.
Lei Jun on Chip Development: Invest at Least 50 Billion Yuan
36Kr learned that Lei Jun said in the "2025 Annual Speech by Lei Jun" that chips are the only way for Xiaomi to achieve success. To develop self - developed mobile phone SoCs, one must persevere for at least a decade and invest at least 50 billion yuan.
12306 Responds to the Situation of Available Long - distance Tickets but Short - distance Tickets Requiring Waitlist: Comprehensive Consideration, Prioritizing Long - distance Passengers while Taking into Account Short - distance Demands
For the same journey, long - distance tickets are shown as available while short - distance tickets require a waitlist? Recently, during the peak ticket - buying period for the National Day holiday, some netizens said that when they searched for different stop stations of the same train, they found that there were available long - distance tickets but short - distance tickets were shown as unavailable and required a waitlist. A reporter from Sichuan Observation called the official 12306 hotline. The official stated that the basic principle for railway ticket allocation is comprehensive consideration, giving priority to meeting the needs of long - distance passengers while taking into account short - distance demands. When there are sufficient long - distance tickets, the ticket quota will be dynamically adjusted, and part of the tickets will be automatically transferred to each station along the route in different time periods to meet the travel needs of short - distance passengers. (Sichuan Observation)
Douyin Vice President Responds to Rumors of ByteDance's Listing in Hong Kong: Much Information about "Byte-related Concept Stocks" in the Market Is Inaccurate
On September 25th, there were reports that ByteDance was preparing to list in Hong Kong, China. Li Liang, the vice president of the Douyin Group, posted a response saying that early in the morning, friends had asked about it. He didn't rule out the possibility that some people were deliberately spreading false information to hype up "Byte-related concept stocks." He urged everyone not to believe or spread rumors. Much of the so - called information about "Byte-related concept stocks" in the market is inaccurate, and people are advised to invest with caution. (Yicai Global)
Zhang Xuefeng's team responds again to "account being blocked from being followed": Inappropriate remarks during the live broadcast violated platform rules, and the company is handling it
On September 25, a staff member of Zhang Xuefeng's team from Yantu Kaoyan said that Zhang Xuefeng's account was blocked from being followed because he made inappropriate remarks during a live - broadcast, which violated platform rules and led to reports. "The company is already handling it, and it should be resolved in the short term." Previously, when responding to media interviews, a staff member of the team said that they were in the process of self - reflection. (Jimu News)
Hang Seng Beverage has applied for multiple trademarks including "Wa Xiaozong"
36Kr learned that according to the AiQicha App, since 2025, Hang Seng Beverage Group Co., Ltd. has applied to register multiple trademarks such as "Wa Xiaozong", "Zong Xiaoha", and "Wa Xiaoha". The international classifications involve food, beer and beverages, advertising and sales, etc. Among them, the status of multiple "Wa Xiaozong" and "Zong Xiaoha" trademarks is preliminary examination announcement. It is worth noting that a health industry company in Henan, a technology service company in Shenzhen, a technology company in Jiujiang, etc. have all applied to register the "Wa Xiaozong" trademark, and the current trademark status is waiting for substantive examination.
After the "Pre - made Dishes" Controversy, Xibei Issues 100 - yuan Dine - in Vouchers
On September 24th, Xibei launched the "Xibei Invites You to Dinner" event at its offline stores, offering 100 - yuan dine - in vouchers for free to customers dining in the stores. These vouchers are valid at all Xibei stores nationwide, but are only applicable to dine - in services.
On September 25th, a reporter from Jiemian News called Xibei's customer service center to inquire about the relevant situation. The customer service representative responded that all Xibei stores across the country are participating in the event. The purpose of the event is to thank customers for their support at the stores. The event will last from September 24th to October 8th, and the vouchers are valid from September 25th, 2025, to October 31st, 2025. Each registered member can only receive one voucher. During the event, customers dining in the store will be given meal replacement vouchers, which can be used for the next meal. There is no limit on the number of vouchers used, and there are no threshold requirements or holiday restrictions. (Lanjing News, Jiemian News)
Completely Hidden Car Door Handles to Be Phased Out
On September 24th, the First Department of Equipment Industry of the Ministry of Industry and Information Technology publicly solicited opinions on the mandatory national standard "Safety Technical Requirements for Automobile Door Handles" and the modification sheets of three mandatory national standards. Among them, the "Safety Technical Requirements for Automobile Door Handles" (hereinafter referred to as the "Safety Technical Requirements") involve the "completely hidden" exterior door handles that the industry is concerned about.
The "Safety Technical Requirements" clearly state that "each door (excluding the tailgate) should be equipped with an exterior door handle with a mechanical release function. The system design should ensure that when the locking device is in the locked state, after an accident such as the deployment of an irreversible restraint device or a power battery thermal event, the non - collision side doors should be able to be opened by the exterior door handle without the aid of tools." The "Safety Technical Requirements" also clearly state that "the exterior door handle of each door should have a hand - operating space relative to the vehicle body surface in any state, and this operating space should be no less than 60mm × 20mm × 25mm." (Cailian Press)
Xibei has applied for multiple intellectual property rights related to "If you have a baby at home, eat at Xibei"
36Kr learned that according to the AiQicha App, Inner Mongolia Xibei Catering Group Co., Ltd. has applied for and registered a trademark of "Xibei Youmiancun. If you have a baby at home, eat at Xibei". The international classification is catering and accommodation, and the above - mentioned trademark has been successfully registered. The company has registered the copyrights of works such as "Xibei's 'If you have a baby, eat at Xibei' children's meal bib logo", and the categories of the works involve fine arts, etc.
Beijing Plans to Mandatorily Require Helmets for E-bike Riders
In recent years, as the accident rate of electric bicycles has continued to rise, local governments across the country have successively passed local laws to ensure riding safety, including mandating the wearing of helmets. However, national-level legislation still lags behind. The new round of revisions to the Road Traffic Safety Law is expected to address this issue.
On September 24, 2025, according to the Beijing Daily client, the 19th meeting of the Standing Committee of the 16th Beijing Municipal People's Congress deliberated on the "Revised Draft of the Regulations on the Administration of Non-motor Vehicles in Beijing." "Ensuring safety" is a prominent feature of this revision. The revised draft proposes that riders and passengers of electric bicycles should wear helmets. (Jiemian News, Beijing Daily)
CATL's total A-share market value exceeds 1.8 trillion yuan and surpasses Kweichow Moutai
36Kr learned that CATL's A-shares rose more than 5%, with a total market value exceeding 1.8 trillion yuan and surpassing Kweichow Moutai, and the trading volume exceeded 10 billion yuan. CATL's Hong Kong shares rose more than 4%, and the stock price has doubled since the IPO, currently quoted at HK$528 per share.
Wang Xingxing of Unitree Robotics: Intelligent robots will make parallel progress in the entertainment and practical application fields
On September 25th, Wang Xingxing, the founder of Unitree Robotics, stated at the 4th Digital Trade Expo that in the foreseeable next few years, intelligent robots will follow a development pattern similar to that of computers in the past and will make parallel progress in the entertainment and practical application fields. Fields such as humanoid robots, sports events, commercial services, and factory implementation will increasingly penetrate into people's lives, sharing the labor burden and adding joy to life. We firmly believe that intelligent robot technology is the key to the development of new - quality productivity. We hope to lead the industry towards safe and practical development and make more contributions to society. (Securities Times)
Dreame Responds to Rumors of Forcing Employees to Participate in Follow - on Investments: The News Is False
Recently, there have been online rumors that Dreame Technology "forces employees to participate in follow - on investments". In response, Dreach Ventures, a subsidiary of Dreame, clarified on the 25th that the company clearly stated that the content of this news is untrue. Dreach Ventures has never formulated and there is absolutely no policy or regulation regarding "forced follow - on investments". (Sina Finance)
Septwolves: The company has not invested in Moore Threads and Unitree Robotics
36Kr learned that Septwolves stated on the interactive platform that the company has not invested in Moore Threads and Unitree Robotics. After inquiry, the company's parent company indirectly holds partial equity in Moore Threads and Unitree Robotics. The parent company's investment is a financial investment behavior at the controlling shareholder level, which has no direct connection with the company's main business and will not have an impact on the company's operating performance.
Xiaomi's car deliveries will speed up significantly, and some models are expected to be delivered 6 weeks earlier than the original schedule
It was learned from multiple Xiaomi salespeople that Xiaomi is planning to dynamically optimize the vehicle delivery cycle and significantly shorten the time from booking to taking delivery of the car. A relevant Xiaomi salesperson said, "The Xiaomi Car App was upgraded on the afternoon of September 25. Previously, the delivery cycle was usually adjusted by 1 - 2 weeks each time. After this App upgrade, it can be seen that some models are expected to be delivered 6 weeks earlier than the original schedule, and at most 2 months earlier. " According to the aforementioned salesperson, the core reason for the accelerated delivery of Xiaomi cars is the rapid increase in production capacity, and the delivery volume last month reached 36,500 units. (Caixin, Lanjing News)
The State Administration for Market Regulation Supervised Three Companies, Including Romoss, to Recall Over 700,000 Power Banks
Lei Guangcheng, the deputy director of the Quality Development Bureau of the State Administration for Market Regulation, stated at a press conference that the administration attaches great importance to the safety issues of power bank products. In response to multiple spontaneous combustion incidents, the administration established a supervision team for power bank recalls and sent it to Guangdong, Jiangsu and other places for supervision. It organized market regulatory departments in 11 provinces (municipalities) including Guangdong, Hunan and Beijing to conduct clue investigations, defect investigations and recall work. As of now, Romoss has recalled a total of 167,000 power banks (accounting for 34.1% of the total recalled volume), with a refund amount of 22.837 million yuan. Anker Innovations has recalled a total of 565,000 power banks (accounting for 78.7% of the total recalled volume), and completed consumer refunds of 85.664 million yuan. Xiaomi, which announced the recall on August 29, has recalled a total of 17,000 power banks (accounting for 12% of the total recalled volume), and completed consumer refunds of 2.7 million yuan. (CCTV News)
Jensen Huang Has Sold NVIDIA Stocks for Four Consecutive Months, Cashing Out Hundreds of Millions of Dollars
Documents disclosed by the U.S. Securities and Exchange Commission (SEC) show that Jensen Huang, the CEO of NVIDIA, has reduced his holdings in the company's stocks for four consecutive months through multiple transactions, selling approximately 50,000 or 75,000 shares each time. The transaction prices ranged from $174.82 to $184.38 per share. Huang reduced his holdings in NVIDIA stocks in June, July, and August. (Jiemian News)
Trump Announces 25% Tariff on Imported Heavy Trucks
On September 25 local time, US President Trump posted on his social media platform "Truth Social" that a 25% tariff will be imposed on all imported heavy trucks starting from October 1. (CCTV News)
xAI, under Elon Musk, Accuses Competitor OpenAI of Stealing Trade Secrets
Lawsuit documents filed on September 24 local time show that xAI, an artificial intelligence startup under Elon Musk, sued its competitor OpenAI in a federal court in California, USA, accusing it of stealing trade secrets to gain an unfair advantage in the artificial intelligence technology competition. The lawsuit claims that OpenAI has a "deeply disturbing practice" of poaching former xAI employees to obtain trade secrets related to the artificial intelligence chatbot Grok. (Jiemian News)
New Plan for TikTok in the United States: The Joint Venture Will Only Be Responsible for Data and Content Security
Early on September 26th Beijing time, US President Donald Trump issued an executive order, announcing that the new operation plan for TikTok in the United States complies with relevant US laws and will ensure TikTok's continued operation in the United States. A joint venture will be responsible for the data security and content security of TikTok in the United States. US Vice President JD Vance said that the valuation of this joint venture is $14 billion. (Observer.com)
Zuckerberg: Would rather waste hundreds of billions than miss out on AI
In the current artificial intelligence (AI) bonanza, it seems that every tech giant is "pouring huge sums of money" without regard for the consequences to ensure they don't fall behind in this race. Mark Zuckerberg, the CEO of Meta, is no exception. He is spending a fortune to ensure that Meta doesn't miss the "golden opportunity" of artificial intelligence.
In a recently aired podcast, Zuckerberg first admitted that an AI bubble "is very likely" to occur. He pointed out that there have been precedents in history where companies over-built, went bankrupt, and left valuable assets after the bubble burst. However, he noted that for Meta, the greater risk is hesitation. (Cailian Press)
Elon Musk on Tesla's Sky - high CEO Performance Incentive Plan: It's About Corporate Control, Not Personal Wealth
On September 25th, news emerged that Elon Musk recently shared his views on Tesla's 2025 CEO performance incentive plan on the social platform X, emphasizing that his focus is on corporate control rather than personal wealth. If the ambitious goals set for this electric vehicle manufacturer are achieved, this incentive package, which includes Tesla stocks worth up to $900 billion (Note from IT Home: approximately 64.2 trillion RMB at the current exchange rate), could make him the world's first trillion - dollar billionaire. (IT Home)
Apple Issues Statement Opposing EU's Digital Markets Act, Says User Experience "Significantly Deteriorated"
Apple issued a statement on September 24th, stating that more than a year has passed since the implementation of the EU's Digital Markets Act (DMA). During this period, the DMA "is clearly deteriorating the experience of Apple users in the EU." Apple urged EU regulators to carefully examine the impact of the act on EU citizens who use Apple products in their daily lives. Apple also said that the DMA exposes EU users to greater risks when downloading applications and making payments, and that the act allowing other companies to request user data according to regulations may lead to the leakage of sensitive information. (Jiemian News)
Intel Reportedly Seeks Investment from Apple to Revive Chip Business
According to people familiar with the matter, Intel has approached Apple for investment. This move aims to boost the troubled chip manufacturer in which the U.S. government has taken a stake. The people, who asked not to be named because the discussions are private, said that Apple and Intel have also discussed how to strengthen cooperation. These people said that the negotiations are in the early stages and may not necessarily result in an agreement. (Sina Finance)
Going Public in Progress
Guangzhou XAG
36Kr learned that according to the Hong Kong Stock Exchange, Guangzhou XAG Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Huatai International as the sole sponsor.
Seres
36Kr has learned that Seres Group Co., Ltd. recently received the "Record-filing Notice on Overseas Issuance and Listing of Seres Group Co., Ltd." issued by the China Securities Regulatory Commission. The company intends to issue no more than 331,477,235 overseas-listed common shares and list them on the Hong Kong Stock Exchange.
Shuanglin Co., Ltd.
36Kr learned that Shuanglin Co., Ltd. announced that it has submitted an application for the issuance and listing of overseas-listed shares (H shares) to the Hong Kong Stock Exchange and published the application documents.
Investment and Financing
UK AI Infrastructure Company Nscale Completes $1.1 Billion Series B Financing
UK AI infrastructure company Nscale announced on September 25 (local time) that it has completed the largest Series B financing in the history of the UK and Europe, amounting to $1.1 billion. This round of financing was led by Norway's Aker ASA. Existing shareholders, including Thornton Capital, continued to participate, and it also received investments from Blue Cat Capital, Dell, Fidelity, G Squared, Nokia, NVIDIA, Point72, and T.Capital. (Jiemian News)
The Cutting - Edge of AI
OpenAI's Most Powerful AI Agent Revealed: Based on GPT-5, Effortlessly Handles Tasks Such as Writing, Programming, and Image Generation
On September 25th, technology media bleepingcomputer published a blog post on the same day, reporting that OpenAI is internally testing an AI agent named "GPT-Alpha". It is based on the GPT-5 model and is specifically designed for advanced reasoning and tool usage. (IT Home)
Kimi Releases New Agent Mode OK Computer
36Kr learned that today, Kimi from the Dark Side of the Moon released a new Agent mode called OK Computer and launched a gray - scale test. OK Computer continues the concept of "model as Agent". Through end - to - end training of the Kimi K2 model, it further enhances the abilities of the intelligent agent and tool invocation. After users issue requests, Kimi can operate its own virtual computer to complete complex tasks such as multi - functional website development, massive data analysis, image and video generation, and high - quality PPT production. Users who have rewarded Kimi will get the first - batch experience qualifications.
Baidu Steam Engine Releases 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 released 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.
Compiled by | An Ya