8:01 AM News Update: Meituan Launches Feature Allowing Riders to Block Customers; Brother of Zong Qinghou Launches New Brand to Compete Directly with "Waxiao Zong"; Spy Photos of Xiaomi YU9 Real Vehicle Leaked
Today's Hotspot Guide
Zhu Lidan, the legal representative of Hongsheng Group, responds to the rumor of "being taken away for investigation"
12306 responds to standing passengers bringing their own chairs
Vivo's lawsuit against a MCN for commercial slander has been filed
Xiaomi has ranked first in China's mobile phone market sales for two consecutive weeks
Jensen Huang continued to sell NVIDIA shares in October
Top 3 Big News
Meituan Pilots Function for Food Delivery Riders to Block Customers
It is reported that Meituan has piloted the launch of functions for riders to rate and block customers in seven cities, including Jinjiang in Fujian and Shaoxing in Zhejiang, giving riders the option to block customers. With this function, riders can rate customers on the order page within 48 hours after the order is completed. If they encounter situations such as being insulted, intimidated or threatened by customers, they can tick the option of "no longer deliver food to this customer" on the rating page to quickly block the customer. A person close to Meituan said that after this new function is set, riders will not receive orders from blocked customers within 365 days. Currently, this function has been opened in multiple cities and will be further promoted in the future, but the specific time is uncertain. Industry insiders said that it is a beneficial exploration for the platform to provide more two - way options for users and riders to protect the rights and interests of all parties. (Sina Finance)
Zong Zehou, the younger brother of Zong Qinghou, launched the brand "Wa Xiaozhi": 153 distributors have been signed up, competing head - on with Zong Fuli's "Wa Xiaozong"
After Zong Fuli launched "Wa Xiaozong", the brand "Wa Xiaozhi" of Zong Fuli's uncle, Zong Zehou, also recently launched an investment promotion campaign. On October 10th, "Wa Xiaozhi" held a national investment promotion conference in Hangzhou. Those who purchase more than 100,000 yuan worth of "Wa Xiaozhi" products can obtain the exclusive distributor qualification for the region. Relevant investment promotion personnel said that the operation of the Zong Shifu brand started in November last year. "We started working on Wa Xiaozhi around the National Day. This side belongs to the Zong family, specifically Zong Zehou's side. It's equivalent to us competing with Zong Fuli for the market. Currently, there is no deposit required to become an agent. You just need to make the first purchase of no less than 30,000 yuan." As of now, "Wa Xiaozhi" has signed contracts with 153 customers. "They are mainly concentrated in Zhejiang, and there are also some from Hunan, Guizhou and other places. Currently, our main customers are still chain supermarkets and those in large - scale distribution channels." (Caixin Press)
Spy photos of the suspected Xiaomi YU9 real vehicle exposed
Spy photos of the suspected third model of Xiaomi (temporarily called Xiaomi YU9) being tested in Xinjiang have been exposed. Lei Jun and several senior executives were present at the foot of the Kunlun Mountains to participate in the high - altitude test. The new car may be an extended - range hybrid, equipped with an 80 - degree battery, with a pure - electric range of more than 400 km and a body size of more than 5.2 meters. (IT Home)
Spy photos of the suspected Xiaomi YU9 real vehicle exposed
Big companies/Big events
Zhu Lidan, the legal representative of Hongsheng Group, responds to the rumor of "being taken away for investigation": It's a rumor
On October 11th, there were reports that Zhu Lidan, the legal representative of Hongsheng Beverage Group Co., Ltd., had been taken away for investigation. That evening, in response to the rumor of "being taken away", Zhu Lidan said, "Don't easily believe the rumors." (The Paper)
Porsche Female Top Salesperson's AI-created Indecent Video Leads to 5-day Detention of Involved Man
Recently, Ms. Mu, a staff member at a Porsche sales center in Qingdao, said on social media that she had recently discovered false and inappropriate videos maliciously created by AI, which slandered and insulted her. She has reported the case to the public security authorities, stating that she "will resolutely pursue civil and criminal liabilities of all those involved in the case." It is reported that Ms. Mu is 34 years old this year. She sold 170 Porsches in 2023 and 2024 consecutively, becoming the annual top salesperson of Porsche twice. In September this year, she became the monthly top salesperson of Porsche again and topped the hot search list.
On October 12th, Ms. Mu, the female top salesperson of Porsche in Qingdao, posted a administrative penalty decision issued by the Licang Branch of the Qingdao Public Security Bureau on her social platform. The administrative penalty decision shows that a man forwarded a photo of Mu Mouwen with text and an indecent video in a group, insulting her, and was later caught. In accordance with Article 42, Item 2 of the "Law of the People's Republic of China on Public Security Administration Penalties", it was decided to impose an administrative detention of five days as a penalty. (Yicai Global)
12306 Responds to Standing Passengers Bringing Their Own Chairs: Eligible Seats Can Be Carried
It is reported that during the peak travel period of the National Day holiday, "hard to get a ticket" has become a problem for many passengers. Recently, a netizen shared their way of dealing with it: after buying a standing ticket for the high - speed train, they brought their own chair and sat in the area beside the train door, and humorously said they had been a "gatekeeper" of the high - speed train, which attracted the attention of netizens. On October 11, in response to the question of "whether passengers can bring their own seats", a 12306 customer service staff told reporters that there are corresponding regulations for passengers to bring their own seats: in terms of carrying conditions, the seat must meet the luggage size requirement of "the sum of length, width and height not exceeding 130 centimeters"; in terms of usage requirements, the position where the seat is placed shall not obstruct the passage of other passengers and must be approved by the staff. (Jing Shi Live)
BYD Responds to the Discontinuation of Song PLUS: It's a Normal Product Transition
On October 11th, in response to the market rumor that "Song PLUS is about to be discontinued", a relevant person from BYD told reporters, "Hai Shi 06 is the replacement model for Song PLUS. (Discontinuing Song PLUS) is a normal product transition." This means that the "national SUV" that once set a sales record of 1.57 million units will gradually fade out in the domestic market, and BYD's Ocean Network naming system of "marine creatures + numbers" may complete its final piece of the puzzle. (21st Century Business Herald)
China Eastern Airlines Announces Free Wi-Fi on Wide-body Aircraft for "Air Express" Flights, Regardless of Business or Economy Class
China Eastern Airlines recently announced that starting from October 11th, Wi-Fi on its domestic "Air Express" wide-body aircraft will be completely free, allowing passengers in all cabins to enjoy seamless connectivity throughout the flight. As early as August 2025, China Eastern extended its free Wi-Fi service on domestic "Air Express" flights from first class and business class to premium economy class and designated economy class seats, further enhancing the inclusiveness of in-flight connectivity services. With the significant upgrade on October 11th, the new Wi-Fi coverage plan will no longer distinguish between cabin classes, ensuring that every passenger on board can enjoy in-flight internet services. (Kuaikeji)
The trademark battle over "Wanglaoji" flares up again. Wanglaoji issues a statement: Go to the hospital if you're sick, and go to the court if there's a problem.
It is reported that the trademark battle over "Wanglaoji" has flared up again. JDB Group and Guangzhou Wanglaoji Big Health Industry Co., Ltd. have different opinions on the overseas trademark issue of "Wanglaoji". On October 10th, the WeChat account of "JDB Herbal Tea" released a statement from JDB Group regarding the ownership of the overseas "Wanglaoji" trademark. The statement said that JDB Group obtained the ancestral herbal tea recipe and the overseas trademark use right of "Wanglaoji" from the descendants of the Wanglaoji family in the 1990s, and legally acquired the ownership of the overseas "Wanglaoji" trademark in the early 2000s. It has registered the "Wanglaoji" trademark in 60 major countries and regions around the world. It also said that the recent remarks about the rights and interests of the overseas "Wanglaoji" brand circulating in the market are untrue, and it will take legal measures to protect its rights. On the evening of October 10th, Wanglaoji's official Weibo released "A Serious Statement (II) on the Overseas Trademark Case of 'Wanglaoji'": Go to the hospital if you're sick, and go to the court if there's a problem. Thank you! (Phoenix Tech)
vivo's lawsuit against a MCN for commercial slander has been filed
On October 12, vivo's legal department issued a statement saying that multiple accounts under a certain MCN agency have long spread false information through fabrication, maliciously slandering vivo's brand and business reputation. In response, vivo has collected and fixed evidence and filed a lawsuit in accordance with the law. Currently, the case has been officially filed. (Daily Economic News)
Warner Bros Discovery Rejects Initial Acquisition Offer from Paramount Skydance
According to people familiar with the matter, Warner Bros Discovery has rejected an initial acquisition offer from Paramount Skydance due to the low bid. As the matter has not been made public, these people, who declined to be named, said that Paramount had proposed an acquisition bid of about $20 per share in recent weeks, but it was rejected by Warner Bros. On October 10, Warner Bros' stock closed at $17.10 per share, with the company's market value reaching $42.3 billion; Paramount's stock was at $17 per share, with a market value of $18.6 billion. (Sina Finance)
Xiaomi Ranked First in China's Mobile Phone Market Sales for Two Consecutive Weeks
36Kr learned that data from a third - party research institution shows that during the National Day Golden Week from September 29th to October 5th, Xiaomi topped the list of mobile phone sales in the Chinese market with a 21.2% share. This is the second consecutive week that Xiaomi has won the championship since the initial sales of the Xiaomi 17 series. Previously, Lu Weibing, the president of Xiaomi, said that the cumulative sales of the Xiaomi 17 series have exceeded 1 million units, with the sales volume during the same period exceeding that of the previous generation by 20%, and the sales momentum is still strengthening.
Zhang Lei, Founder and CEO of Hillhouse Capital: China Has Become a global leader in AI-enabled manufacturing
Zhang Lei, Founder and CEO of Hillhouse Capital, said that China Has Become a global leader in AI-enabled manufacturing, and there are many innovation cases here: Volkswagen has established a joint venture with a company named "Horizon Robotics" to develop high - performance autonomous driving solutions. These solutions will be widely tested in China, and the results can be deployed and applied globally; Schneider Electric has established a flagship R & D center in China, which is also a "Lighthouse Factory". Its innovation achievements have become the benchmark for global efficient operations; in addition, there is an AI - driven consumer insights company that serves many large multinational clients, most of which are consumer goods enterprises that have invested in China and have large - scale businesses. (Wall Street Insights)
Qualcomm Responds to Alleged Violation of Anti - Monopoly Law: Actively Cooperating with Relevant Investigations
Since Qualcomm's acquisition of Autotalks failed to declare the concentration of business operators in accordance with the law, which is suspected of violating the Anti - Monopoly Law of the People's Republic of China, the State Administration for Market Regulation has launched a case - filing investigation against Qualcomm in accordance with the law. In response to this matter, Qualcomm stated that it is actively cooperating with the relevant investigations of the State Administration for Market Regulation of China. Qualcomm has always been committed to supporting the development and growth of our customers and partners. (Sina Technology)
Jensen Huang Continued to Sell NVIDIA Stocks in October
After the U.S. market closed on October 10th, Eastern Time, documents submitted by NVIDIA to the U.S. Securities and Exchange Commission (SEC) showed that Jensen Huang, the company's CEO, sold 225,000 shares through 20 transactions between October 8th and 10th, cashing out more than $42.8 million. Previous documents showed that in October this year, Jensen Huang reduced his holdings by 75,000 shares on each of the five consecutive trading days from October 1st to 7th, with a total cash - out amount of more than $70.24 million. Calculated in this way, since October this year, Jensen Huang, the CEO of NVIDIA, has reduced his holdings of the company's stocks through multiple transactions on the U.S. stock exchange, and has cumulatively cashed out more than $100 million, reaching $113 million. As of October 10th, 2025, Jensen Huang still holds more than 70.6 million NVIDIA shares. (Sina Finance)
Shenzhen's drones deliver 20,000 express parcels daily
According to a message released on the official website of the Shenzhen Postal Administration, on the occasion of the 56th World Post Day, Huang Junming, the Party secretary and director of the administration, delivered an open speech revealing that Shenzhen has achieved remarkable results in the development of intelligent express delivery. Currently, Shenzhen's drones transport an average of 20,000 express parcels per day, and unmanned vehicles handle over 70,000 express parcels per day on average. (Securities Times)
This year, China's express delivery volume has exceeded 150 billion pieces
According to the State Post Bureau, as of October 11, China's express delivery volume this year has exceeded 150 billion pieces, 37 days earlier than in 2024 when the 150 - billion - piece mark was reached. The scale of China's express delivery market continues to grow, promoting intelligent and diversified development and effectively supporting the release of online consumption vitality. (Xinhua News Agency)
Wingtech Technology: Condemns the Actions of Certain Foreign Management of Nexperia under the Pretext of "Compliance" to Seize Power
36Kr learned that on October 12, Wingtech Technology issued a statement saying that the Dutch government's freezing of Nexperia's global operations on the pretext of baseless "national security" is an excessive intervention based on geopolitical prejudice rather than a risk assessment based on facts. This move seriously violates the market economy, fair competition, and international economic and trade rules consistently advocated by the EU. Certain foreign management of Nexperia is attempting to forcibly change Nexperia's equity structure through legal procedures, and their demands are highly coordinated with the Dutch government's directives. In essence, it is an attempt to deprive shareholders of their rights and subvert the company's legitimate governance structure under political pressure. The company condemns such actions that use "compliance" as a pretext to seize power.
Multiple Banks Issue Announcements Warning of Precious Metals Price Fluctuation Risks
Since October, the international spot gold price has exceeded $4,000 per ounce, hitting a record high, with a year-to-date increase of over 53%. Recently, banks such as China Construction Bank and Industrial and Commercial Bank of China have issued risk warning announcements regarding precious metals business on their official websites, reminding customers to pay attention to the intensified price fluctuations of precious metals, reasonably control their positions, and conduct investments rationally. In addition to the precious metals business, in the aspect of proxy sales of public funds, due to the recent overall upward volatility of the stock market, multiple banks have also recently raised the risk ratings of the proxy-sold fund products. This is also commercial banks' timely adjustment of the risk ratings of the proxy-sold asset management products in accordance with regulatory requirements. (Securities China)
It only takes 53 seconds to roll out a customized vehicle
The Outline of the 14th Five-Year Plan proposes to improve the modernization level of industrial and supply chains, promote the optimization and upgrading of the manufacturing industry, and focus on strategic emerging industries such as new materials, high-end equipment, and new energy vehicles. In Guangzhou, in the lighthouse factory of new energy vehicles, 8 different models can be produced simultaneously on one production line, and it only takes 53 seconds to roll out a customized vehicle. In the Yangtze River Delta, a new energy vehicle manufacturer can source all the necessary supporting parts and components within a four - hour drive. In Chongqing, a super automobile factory is equipped with more than 1,000 intelligent devices, and the entire production process uses an AI intelligent detection system. (CCTV Finance)
U.S. Government Shutdown Continues, Trump Says Layoffs Will Be "Mainly Democrats"
The shutdown of the U.S. federal government entered its 11th day on the 11th. U.S. President Trump said on the 10th that federal government layoffs have begun, and that the layoffs will mainly target Democrats and the scale will be large. It is reported that multiple departments such as the U.S. Treasury Department, the Department of Education, the Department of Health and Human Services, the Department of Commerce, and the Department of Homeland Security have started laying off employees, and about 4,200 employees will be affected. The American Federation of Government Employees issued a statement saying that "a lawsuit has been filed." The statement said that the Trump administration is using the government shutdown as an excuse to "illegally fire" thousands of employees who provide critical services to communities across the country, which is disgraceful. (CCTV News)
Elon Musk Criticizes OpenAI Again: Built on Lies
On October 11th Beijing time, Elon Musk stated on X that OpenAI is built on lies, and they "stole funds from a charity and used them for their own financial gain." Some netizens asked, "Wasn't it supposed to be a non - profit organization?" Musk agreed by using a "100 - point" emoji. (Sina Finance)
Tesla to Vote on Elon Musk's Pay Package at November 6 Shareholders' Meeting
Tesla announced that it will hold a shareholders' meeting on November 6. Shareholders will vote on three key proposals during the meeting, including CEO Elon Musk's pay package, the equity incentive plan, and the election of directors. (Jiemian News)
The population aged 70 and above in South Korea exceeds the population in their 20s for the first time
The latest statistics from the South Korean government show that affected by the low birth rate and population aging, in 2024, the population aged 70 and above in South Korea exceeded the population aged 20 - 29 for the first time. Yonhap News Agency reported on the 12th, citing the population and housing survey released by the National Data Office of South Korea (formerly the Statistics Office) on the same day, that in 2024, the population in their 20s in South Korea was 6.302 million, a decrease of 193,000 from the previous year, the largest decline among all age groups. The population in their 20s in South Korea reached its peak in 2020, at 7.03 million, and has been decreasing for four consecutive years since then. Meanwhile, in 2024, the population aged 70 and above in South Korea reached 6.543 million. This is the first time since the relevant statistics began in 1925 that the population in this age group has exceeded the population in their 20s. (Xinhua News Agency)
Going public in progress
Zhongxin Wafer
36Kr learned that the website of the China Securities Regulatory Commission disclosed that Hangzhou Zhongxin Wafer Semiconductor Co., Ltd. (hereinafter referred to as "Zhongxin Wafer") completed the filing registration for counseling with the Zhejiang Securities Regulatory Bureau on October 10, 2025. It plans to publicly issue shares to unspecified qualified investors and be listed on the Beijing Stock Exchange. The counseling brokerage is Caitong Securities. The counseling filing report shows that Zhongxin Wafer applied for listing on the Science and Technology Innovation Board on August 29, 2022, and the review was terminated on July 3, 2024.
Sany Heavy Industry
36Kr learned that documents from the Hong Kong Stock Exchange showed that on October 12, Sany Heavy Industry Co., Ltd. updated its post - hearing information package, which means that the company has passed the hearing for its IPO on the Hong Kong Stock Exchange. CITIC Securities is the sole sponsor.
Cambridge Technology
36Kr learned that according to documents from the Hong Kong Stock Exchange, on October 12, Shanghai Cambridge Technology Co., Ltd. passed the listing hearing of the Hong Kong Stock Exchange. Guotai Junan International is the sole sponsor.
Eight Horse Tea
36Kr learned that according to documents from the Hong Kong Stock Exchange, on October 12, Eight Horse Tea Co., Ltd. passed the listing hearing of the Hong Kong Stock Exchange. The joint sponsors are Huatai International, ABC International, and Tianfeng International.
Deepexi Technology
36Kr learned that according to documents from the Hong Kong Stock Exchange, on October 12, Deepexi Technology Co., Ltd. passed the listing hearing of the Hong Kong Stock Exchange. The joint sponsors are CITIC Securities, China Minsheng Banking Capital, Guotai Junan International, SPDB International, and Bank of Communications International.
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Compiled | Baby Chinese Cabbage