At 8:01, here are the latest news: The driver in the "explosion and combustion accident of Xiaomi SU7 after collision" is suspected of drunk driving. DJI responds to the price cut controversy, stating that some offline stores have started compensation. Xin Jie, the chairman of Vanke, resigns.
Today's Hot News Guide
Windows 10 is about to end its service.
Xibei established a new catering company that only sells pre-packaged foods.
Polestar closed its last direct-sale store in China.
Juneyao Airlines responded to the incident of a security officer taking a passenger's lost phone privately: The employee involved was terminated from the labor contract at the end of September.
45-year-old Yao Ming is eligible to receive his NBA pension, which is 13,000 yuan per month.
Top 3 Big News
Police Release Statement on "Explosion and Combustion of Xiaomi SU7 After Collision": The Party Involved is Suspected of Drunk Driving
Early in the morning of October 13th, an accident involving a new - energy vehicle occurred on the main road of Tianfu Avenue in Chengdu, Sichuan. A vehicle suspected to be a Xiaomi SU7 Ultra caught fire after a collision while in motion. Videos taken by citizens showed that after the accident, the driver was trapped inside the vehicle. Many passers - by immediately stepped forward to participate in the rescue, but the car door could not be opened. After the firefighters arrived at the scene to extinguish the fire, they used equipment to cut the vehicle body.
Staff from Xiaomi's car customer service said that since the incident happened at 3 a.m. and there were no staff on duty at this time, they did not receive any relevant help requests or reports.
On October 13th, the Traffic Management Bureau of the Chengdu Public Security Bureau issued a "Police Situation Report". The report pointed out that according to the preliminary investigation, Deng, the party involved, was driving a small car and collided with a small car in front driven by Li in the same direction. Then, the car crossed the median strip of the road and caught fire. The accident resulted in Deng's death, and the two involved vehicles were damaged to varying degrees. After testing, Deng is suspected of driving a motor vehicle under the influence of alcohol. Currently, the accident is under further investigation. (The Paper)
DJI responds to price cuts: Some offline DJI stores have started compensation
Recently, the prices of many DJI products have dropped by hundreds or even thousands of yuan. The news of the price cuts has sparked strong reactions from some consumers who have already purchased the products. On the 10th, DJI responded that the price cuts were part of the "Double Eleven" promotion, but the differences in the return policies between online and offline channels have continued to trigger heated discussions. It is understood that for the online sales channels of DJI products, the price protection and return and exchange periods vary on different platforms. Some channels support returns within 30 days from the day after signing for the products, provided that the packaging and accessories are complete and the products and packaging are undamaged; some channels support 7-day price protection or return and exchange. However, some consumers who bought products offline reported that the offline stores where they made their purchases only refunded the price difference for products bought within 7 days. During the reporter's on - site visits, it was found that some offline stores have also started to compensate consumers who are unable to get a price - difference refund due to the expiration of the time limit by giving away some peripheral products. (CCTV Finance)
Vanke Announcement: Chairman Xin Jie Resigns
Vanke Enterprises announced in the Hong Kong Stock Exchange that on October 12, 2025, it received a written resignation report submitted by Mr. Xin Jie, the company's chairman. Xin Jie applied to resign from his positions as a non - executive director and the chairman of the company due to personal reasons. After his resignation, he will no longer hold any position in the company. Meanwhile, the Vanke Board of Directors elected Huang Liping as the chairman. His term of office will start from the date of the board's approval and end on the expiration date of the term of the 20th Board of Directors. (Yicai Global)
Large Companies/ Major Events
The domestic version of iPhone Air will start pre - orders on October 17 and go on sale on October 22.
On the evening of October 13, Apple CEO Tim Cook suddenly appeared in the Douyin live - streaming room of the Apple Store flagship store and, together with other employees, completed his first live - streaming sales event targeting Chinese consumers. During the live stream, Cook announced that users in the Chinese mainland can pre - order the iPhone Air model starting at 9 a.m. on October 17 (this Friday), and it will be officially available for sale starting on October 22 (next Wednesday). (Caixin)
2025 Nobel Prize in Economics Announced
The laureates of the 2025 Nobel Prize in Economics have been revealed. The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2025 to Joel Mokyr, Philippe Aghion, and Peter Howitt "for their elucidation of innovation-driven economic growth".
The Nobel Committee for Economic Sciences stated that the laureates have, in different ways, shown how creative destruction creates conflicts that must be managed constructively. Otherwise, innovation will be hampered by established firms and interest groups that may be disadvantaged.
"The laureates' work shows that economic growth cannot be taken for granted. We must safeguard the mechanisms behind creative destruction so that we do not fall back into stagnation again," said John Hassler, Chairman of the Nobel Committee for Economic Sciences. (Cailian Press)
Windows 10 is about to "go out of service"
It is reported that Microsoft Corporation in the United States will stop providing security updates and technical support for the Windows 10 system starting from October 14. The system will no longer receive Microsoft's technical assistance, feature updates, and security updates. This means that the computers of a large number of users may be more vulnerable to cyber - attacks, and the functions of some applications may be weakened.
Windows 10 was first pushed to global users on July 29, 2015, and has a service life of about 10 years. Although Windows 10 is about to go out of service, there are still many users using the system. Data from Statcounter shows that the global market share of Windows 10 in July was 44.48%. For older devices that do not meet the technical requirements for running Windows 11, Microsoft recommends that users register for the Windows 10 Extended Security Updates program (which costs $30 or 1000 Microsoft Rewards points), or replace the device with one that supports Windows 11. (Yicai Global, Jiemian News)
Xibei Responds to Newly Established Company Selling Only "Pre-packaged Foods": This Registration Does Not Mean Xibei Will Launch New Businesses Related to Prepared Dishes
Recently, "Shenzhen Yuhua Meihao Catering Management Co., Ltd.", which is controlled by Xibei, was officially established with a registered capital of 1 million yuan. Its business scope includes catering management, food sales (only selling pre-packaged foods), and food online sales (only selling pre-packaged foods), etc. Shareholder information shows that Xibei holds 95% of the company's equity, and Shenzhen Benkang Meihao Catering Management Partnership (Limited Partnership) holds 5%. The registered address is at Wanli Business Center, Fuyong Street, Bao'an District, Shenzhen.
In response, Xibei stated that the newly registered company is a business entity for store operations, and its main business is "catering services". Some beverages sold in Xibei stores (such as Xibei's own-brand bottled sea buckthorn juice) and Xibei's multi-grain mooncakes are pre-packaged foods. This registration does not mean that Xibei will launch new businesses related to prepared dishes. (Jiemian News)
Starting next year, spouses in Guangdong Province can check each other's real estate and vehicles
It is reported that on October 11, the 21st meeting of the Standing Committee of the 14th People's Congress of Guangdong Province passed the "Measures of Guangdong Province for Implementing the
Polestar Closes Its Last Directly - Operated Store in China
On October 13th, reporters learned that Polestar has closed its last remaining directly - operated store in China, which was located at L+Plaza in Shanghai's Qiantan area. In response to this, reporters verified the information with Polestar China. They replied that Polestar is strategically adjusting its business model in China to better meet the diverse and rapidly changing consumer demands in the Chinese market.
"Although the Shanghai store has been temporarily closed, other Polestar businesses in China are not affected, and the rights and interests of car owners will not be affected in any way." According to a staff member of Polestar's official service hotline, the company currently mainly adopts an online sales model. (Jiemian News)
Three major telecom operators announce the launch of eSIM mobile phone services
On October 13th, China Mobile and China Unicom issued statements saying that they have officially received approvals to conduct commercial trials of eSIM mobile phone operation services. In addition, reporters learned from China Telecom that its eSIM service has also been officially launched.
Currently, China Unicom's eSIM service can be reserved and processed online. As of the time of publication, data on the reservation channel page of China Unicom's eSIM service shows that the number of online reservations has reached 68,356. China Mobile said that users can go to China Mobile's business halls to handle eSIM mobile phone services, and they can log in to the China Mobile App to query information about handling outlets. China Telecom stated that its eSIM mobile phone services are officially on sale in 31 provincial-level regions across the country. Users can bring their eSIM mobile phones to China Telecom's offline business hall stores in each province to activate the eSIM mobile phone services. (Jiemian News)
Zhejiang Wahaha Drinking Water Co., Ltd. Retrieves the Sales Right of Barreled Water from the Hongsheng Group
It was learned from two independent sources that Zhejiang Wahaha Drinking Water Co., Ltd., which had its sales right of barreled water taken away before, has regained the sales right. It was previously reported that at the end of 2024, Zong Fuli, then the chairperson of Wahaha Group, requested that the barreled water sales business of Zhejiang Wahaha Drinking Water Co., Ltd. be transferred to Hangzhou Xun'er Chengtong Trading Co., Ltd., and the plan was officially implemented on March 25, 2025. In April 2025, without signing a purchase and sales agreement with dealers, they were required to place orders with Hangzhou Xun'er Chengtong Trading Co., Ltd. Then the goods were delivered, invoices were issued, and the substantial business transfer was completed. "Now the sales right has returned to Zhejiang Wahaha Drinking Water Co., Ltd., and it remains a company integrating production and sales," said a person familiar with the matter. (The Paper)
Juneyao Airlines Responds to "Security Officer Taking Passenger's Lost Phone Without Permission": The Involved Employee's Labor Contract Was Terminated at the End of September
Recently, some netizens posted that a security officer of Juneyao Airlines took a passenger's lost phone for himself. On October 13, a relevant person in charge of Juneyao Airlines told reporters that after receiving the complaint, the airline immediately launched an investigation and actively searched. After verification, the security officer on Flight HO1659 on September 14 did not hand over the lost phone as required when dealing with the passenger's lost property. This behavior seriously violated the company's regulations, and the company terminated the labor contract with him at the end of September. (Southern Metropolis Daily)
NetEase Cloud Music Responds to Netizens' Concerns about a New Phone Number Logging into the Late Singer CoCo Lee's Account: Caused by Reusing Phone Numbers
Recently, the abnormal login of the late singer CoCo Lee's NetEase Cloud Music account has attracted the attention of netizens. On October 11th, a netizen posted that when registering for NetEase Cloud Music with a newly - obtained phone number, they automatically logged into CoCo Lee's account after receiving the verification code. After logging in, the netizen saw private messages from fans in the account's backend. The login interface showed that the account was named "CoCo Lee", with 261,000 followers and 2 badges.
In response, NetEase Cloud Music's customer service stated that after verification, the problem was caused by the operator reusing the phone number originally bound to the artist's account. They immediately contacted the new phone number owner and carried out corresponding handling.
Regarding the issue of reusing phone numbers, some media interviewed three major operators. The customer service staff of all of them suggested that users should actively unbind various registered apps before canceling their phone numbers. (China Newsweek)
Master Bao Responds to Spring Found in Egg Tart: It's an Employee's Negligence
Recently, a consumer posted that a spring was found in an egg tart from Master Bao, and the child almost hurt their mouth while eating it. The consumer told reporters that after finding the spring in the egg tart, they immediately communicated with the store. Eventually, the store gave a full refund and compensated 300 yuan.
On the 12th, a relevant person in charge of Master Bao said that all the products in the store are made on - site. The spring accidentally loosened and fell off when the store employee was filling the tart liquid, which was a negligence in the operation process. They further stated that Master Bao has refunded the entire order for the customer and provided corresponding compensation. At the same time, a comprehensive inspection has been carried out in all stores across the country. (China News Service)
Multiple regions initiate the collection of urban and rural residents' medical insurance premiums for the new year, with the minimum payment standard remaining unchanged
Before and after the National Day, multiple regions officially launched the work of enrolling and collecting premiums for the new - year's urban and rural residents' basic medical insurance (hereinafter referred to as residents' medical insurance). The collection notices released by local authorities show that in 2026, the minimum payment standard for residents' medical insurance will remain unchanged at 400 yuan. After adding the government subsidies, the financing standard for urban and rural residents' medical insurance will increase to 1,100 yuan. This is the first time that the individual payment standard for residents' medical insurance has "stopped rising" since the establishment of the residents' medical insurance system. Jin Chunlin, the director of the Shanghai Health Development Research Center, told Yicai that due to the slowdown in wage and income growth, the increase in the payment base for employees' medical insurance in many regions is also very small or zero. The zero - growth of the residents' medical insurance payment standard is in line with the economic purchasing power of the insured. (Yicai)
"Black Myth: Wukong" to Receive Update, File Size Exceeds 93GB
On October 12th, Game Science officially announced that "Black Myth: Wukong" will receive an update in the near future. In addition to the regular bug fixes, this update will also optimize some performance. The relevant updates will be gradually released on various platforms starting from October 13th. It's worth noting that due to the differences in file storage methods, the patch for the PS5 platform takes up a relatively large space, approximately 93.5GB. According to the official introduction, this optimization involves many underlying changes. Currently, Game Science has not provided further explanations on why the patch is so large. Some players speculate that there may be new storylines, scenes, or characters added. (Jiemian News)
At 45, Yao Ming Is Eligible to Receive NBA Pension, Amounting to $22,000 (Approx. RMB 157,000) Annually
During the NBA China Games, Yao Ming's remark, "I'm going to talk to Andre Iguodala about my pension," caught the attention of netizens. According to the current NBA collective bargaining agreement, players who are at least 45 years old and have played in the league for at least three years are eligible for pensions and other benefits. Born in September 1980, Yao Ming is now 45 years old and played in the NBA for nine seasons. Therefore, he is eligible to receive the pension offered by the league.
It is understood that the NBA pension is divided into different tiers. Players can choose to start receiving it at any tier: Tier 1: From 45 to 50 years old, $306.24 × Years of service × 2/3; Tier 2: From 50 to 62 years old, $306.24 × Years of service; Tier 3: Above 62 years old, $1,666.7 × Years of service. So, from now until he turns 50, Yao Ming can receive $1,838 per month ($22,000 annually, equivalent to approximately RMB 157,000), and after he turns 50, he can receive $2,757 per month. (Blue Whale News)
Yonghui Superstores' Employees Received Over 31 Million Yuan in Cumulative Dividends from January to August This Year
On October 13th, Wang Shoucheng, the CEO of Yonghui Superstores and the person in charge of the national store renovation, stated at the Yonghui Superstores 2025 New Product Launch Conference, "The entire industry is struggling in the involution, and Yonghui is no exception."
"Currently, we have more than 100 renovated stores. In terms of the renovation model, we will focus on the growth of high - quality products, build a lower - cost structure and more reasonable prices, and increase investment in infrastructure." Wang Shoucheng revealed that through store renovation and upgrading, the revenue has been increased. From January to August 2025, employees received cumulative dividends of over 31 million yuan, with a total of 32,094 people. The highest single - month and single - store dividend exceeded 300,000 yuan. (Yicai Global)
A scenic area in Yunnan responds to the complaints about "Human Centipede, Three - faced Girl" and other works being deemed uncomfortable to view: Some controversial artworks have been removed
On October 11th, some netizens posted videos saying that the style of the "Wilderness Kingdom" scenic area in Lijiang, Yunnan was eerie. Among them, works like the Human Centipede and the Three - faced Girl made people feel uncomfortable. When interviewed by the media, the staff of the scenic area said that the Wilderness Kingdom was a fairy - tale kingdom built by Xiaodao for his daughter, with the theme of "dreamy and warm". They claimed that the negative online reviews were caused by some bloggers deliberately adjusting the color tone. The staff admitted that the design of some works in the scenic area was indeed exaggerated, but taking pictures in other areas on sunny days would yield great results. They also suggested that tourists learn about the scenic area in advance before deciding whether to visit.
On October 13th, The Paper learned from relevant sources that the scenic area had removed some controversial artworks. (The Paper)
Didi Enters the Low - Altitude Economy: Beijing Didi Low - Altitude Technology Co., Ltd. Established Recently
According to reports from Southern Metropolis Daily, Beijing Didi Low - Altitude Technology Co., Ltd. was recently established. Business registration information shows that the company's legal representative is Chen Kai, with a registered capital of 5 million yuan. Its business scope includes technology service development, conference and exhibition services, enterprise management consulting, software development and sales, artificial intelligence application software development, online sales, and retail of computer software, hardware, and auxiliary equipment. The company is 100% owned by Beijing Xiaoju Technology Group Co., Ltd., the parent company of Didi Chuxing. Its business scope does not directly involve the manufacture of low - altitude aircraft but focuses on software development. It is possible that Didi will first enter the market through building core technology platforms such as software ecosystems, intelligent dispatching systems, and operation solutions. (Southern Metropolis Daily)
Google: Australia's Law Restricting Teenagers' Use of Social Media Will Be "Extremely Difficult to Enforce"
On October 13th, it was reported that Google, a subsidiary of Alphabet, stated that Australia's new rule banning people under 16 from using social media will be "extremely difficult to enforce" and may not fulfill the promise of improving children's online safety. Australia's "Cybersecurity (Minimum Age for Social Media) Amendment Act 2024" will come into effect in December this year, and Australia will become the first country in the world to implement such a comprehensive ban. The regulation requires social platforms to rely on artificial - intelligence age - inference technology based on behavioral data instead of traditional age verification. (Jiemian News)
Japanese rice prices soar again, approaching record high levels
This year's new Japanese rice has begun to be put on the market one after another, but the newly announced average retail price of rice still remains at a high level, approaching the historical record. The persistently high rice prices have continuously increased the pressure on Japanese households' food consumption expenditures and restaurants. The latest data released by the Ministry of Agriculture, Forestry and Fisheries of Japan on the 10th showed that driven by the high price of new rice, the average price of 5-kilogram bags of rice in Japanese supermarkets reached 4,205 yen (about 196 yuan), which has remained above 4,000 yen for five consecutive weeks, and is also only a short distance away from the historical record of 4,285 yen set in May this year. (CCTV Finance)
The three major U.S. stock indexes closed higher collectively, and popular Chinese concept stocks generally rose
36Kr learned that at the close on October 13, the three major U.S. stock indexes rose collectively. The Dow Jones Industrial Average rose 1.29%, the S&P 500 Index rose 1.56%, and the Nasdaq Composite Index rose 2.21%. Large technology stocks generally rose. Tesla and Oracle rose more than 5%, Google rose more than 3%, Nvidia and Intel rose more than 2%, Amazon and Meta rose more than 1%, Apple rose 0.97%, and Microsoft rose 0.6%. All popular Chinese concept stocks rose. NIO rose 7%, Miniso and Tiger Brokers rose more than 5%, Alibaba, Futu Holdings, and JD.com rose more than 4%, XPeng Motors and Baidu rose more than 3%, 36Kr and Pinduoduo rose more than 2%, and Li Auto rose more than 1%.
Going Public
Seres
According to documents from the Hong Kong Stock Exchange, on October 13, Seres Group Co., Ltd. passed the listing hearing of the Hong Kong Stock Exchange. The joint sponsors are China International Capital Corporation and China Galaxy International. (Jiemian News)
The Cutting - Edge of AI
OpenAI and Broadcom Announce Strategic Cooperation, Plan to Deploy 10GW Custom AI Accelerators
On October 13th, OpenAI announced a strategic cooperation with Broadcom to jointly deploy 10GW custom AI accelerators. OpenAI stated that it will be responsible for the design of the accelerator and system architecture, while Broadcom will participate in the joint development and deployment. OpenAI and Broadcom have reached a long - term agreement on the joint development and supply of AI accelerators. Broadcom plans to start deploying AI accelerators and network system racks in the second half of 2026 and complete the deployment by the end of 2029. (Jiemian News)
NVIDIA: Meta and Oracle to Use Spectrum-X Ethernet Switches
NVIDIA stated that Meta and Oracle will adopt NVIDIA's Spectrum-X Ethernet switches to build AI data center networks. These two companies have established the Spectrum-X Ethernet switches as the standard for the open accelerated network architecture. This technology enables large-scale and rapid deployment, exponentially improving the efficiency of AI training and significantly reducing the time to gain data insights. (Cailian Press)
Investment and Financing
Jiushi Intelligence Completes a New Round of Hundreds of Millions of US Dollars in Financing Led by Ant Group
Jiushi Intelligence has completed a new round of hundreds of millions of US dollars in financing led by Ant Group, with participation from both new and old shareholders. Jiushi Intelligence is the pioneer in the L4 autonomous driving Robovan field (unmanned trucks with a volume of 5m³ and above) and operates the world's largest Robovan autonomous driving fleet. It holds a market share of over 70% in the express delivery and postal sectors in China. Its overseas business has covered multiple countries across four continents, including Singapore, Japan, South Korea, the UAE, and Austria. (Yicai Global)
"Lingchuang Medical Valley" Completes Nearly 200 Million Yuan Series B Financing
36Kr learned that according to the official WeChat account of Lingchuang Medical Valley, Beijing Lingchuang Medical Valley Technology Development Co., Ltd. (referred to as "Lingchuang Medical Valley") announced the completion of nearly 200 million yuan in Series B financing. This round of financing was jointly led by Shunxi Fund and Yizhuang Guotou, with Galaxy Innovation Capital, Guangzhou Industrial Investment Capital, and Yizhuang Investment participating as follow - on investors. Yuan Yi Capital has long served as the enterprise's strategic advisor. The funds from this round will be mainly invested in three directions: product line expansion, production capacity upgrade, and talent and team building.
"Future Intelligence" Completes Hundreds of Millions Yuan Series A Financing
36Kr learned that the AI hardware company "Future Intelligence" announced the completion of hundreds of millions yuan in Series A financing, led by Ant Group, with Qiming Venture Partners making an oversubscribed follow - on investment. This is also the third time that Future Intelligence has received market investment this year after successfully completing the Pre - A and Pre - A+ rounds of financing in January and April respectively, further expanding the cumulative financing scale. The funds from this round of financing will be mainly used in three major directions: firstly, continuously enriching the product matrix of AI office hardware; secondly, accelerating the construction and market promotion of its overseas self - owned brand viaim; thirdly, increasing exploration and investment in cutting - edge technologies such as AI Agent.
Cool Products
Apple's Smart Glasses May Be Compatible with Both iPhone and Mac Systems
On October 12 local time in the United States, according to technology journalist Mark Gurman, Apple's smart glasses may be equipped with the same visionOS operating system as the Vision Pro and be compatible with both the iPhone and Mac systems. Mark Gurman said that in the future, when the Apple smart glasses are paired with a Mac, they will be able to run the full visionOS operating system. When connected to an iPhone, they will switch to a lighter and more mobile - device - friendly interface. This dual - mode design takes into account users' needs for device performance and portability in different scenarios and helps strengthen the integration and collaboration within the Apple ecosystem. The extensive development work Apple has done on the visionOS system will also lay the foundation for the software applications of the smart glasses.
Mark Gurman has previously said that Apple may launch the smart glasses product as early as 2026. Well - known analyst Ming - Chi Kuo predicts that the release will be postponed to 2027. (Jiemian News)
Compiled | Purple