Krypton Evening News | The most powerful derivative model of ERNIE 4.5 is released, and PaddleOCR-VL ranks first in the world in the comprehensive performance of OCR; Porsche reaches an agreement on the successor to CEO Oliver Blume; Waymo plans to launch a driverless ride-hailing service in London next year.

Large companies:

Jingneng Power: Power generation in the first three quarters of 2025 decreased by 3.02% year-on-year

36Kr learned that Jingneng Power announced that the company's cumulative power generation in the first three quarters of 2025 reached 71.675 billion kWh, a year-on-year decrease of 3.02%. Among them, the cumulative thermal power generation reached 68.57 billion kWh, a year-on-year decrease of 5.98%; the cumulative new energy power generation reached 3.105 billion kWh, a year-on-year increase of 220.06%. The cumulative on-grid power reached 66.469 billion kWh, a year-on-year decrease of 2.91%. Among them, the cumulative on-grid thermal power reached 63.421 billion kWh, a year-on-year decrease of 6.05%; the cumulative on-grid new energy power reached 3.048 billion kWh, a year-on-year increase of 219.53%.

Beifang Co., Ltd.: Net profit in the first three quarters of 2025 is expected to increase by 56.90% - 70.74% year-on-year

36Kr learned that Beifang Co., Ltd. announced that it expects the net profit attributable to the owners of the parent company in the first three quarters of 2025 to be between 170 million yuan and 185 million yuan, a year-on-year increase of 56.90% - 70.74%. During the reporting period, the company adhered to the development direction of "high - end, intelligent, green, and international", achieving remarkable results in market expansion and continuous growth in operating income. The R & D of key products advanced smoothly, enhancing the company's ability to independently control core technologies. The internal operation was optimized and upgraded through digital and intelligent means, improving production efficiency and promoting a steady increase in profits.

JD.com's Double 11: The transaction volume of new iPhone Air products exceeded 100 million yuan in one second

JD.com data shows that after the launch of JD.com's 11.11 event on October 9th, the iPhone Air set a record of reaching a transaction volume of over 100 million yuan in one second. It is understood that JD.com has taken the lead in launching promotions for all Apple products, including iPhones, MacBooks, iPads, Watches, etc., which are all participating in the event.

Porsche Reaches Consensus on Successor to CEO Blume

According to a report by German newspaper Bild on Friday, Porsche has reached a consensus on a successor to CEO Oliver Blume, who will step down next year, ending the dual-CEO situation at Porsche and its parent company Volkswagen Group, which has long been unpopular with investors. Blume, who has led Porsche for 10 years, is facing increasing pressure to give up one of his jobs. Both companies are facing major challenges such as tariffs, weak demand in the Chinese market, and high costs of transitioning to electric vehicles. (Sina Finance)

Cainiao Officially Unveils Global Logistics Support Plan for the 2025 Year - End Promotion

On October 17th, Cainiao officially announced its global logistics support plan for the 2025 year - end promotion. Relying on the global e - commerce logistics supply chain network and combined with the world's largest - scale investment in unmanned logistics technology, Cainiao offers global users logistics experiences such as "Global Five - Day Delivery", "Three - Day Delivery in G2G Core Areas", "Next - Day Delivery from Overseas Warehouses", and "Minute - Level Delivery for Domestic Pre - sales".

Kingsoft Office Reaches Strategic Cooperation with Oman Telecommunications

36Kr learned that on October 17th, Kingsoft Office and Oman Telecommunications Company officially signed a strategic cooperation agreement in the Sultanate of Oman. The two parties will integrate their respective advantages to promote the international version of WPS 365 among enterprise customers in Oman. With the cloud document, AI, and collaboration capabilities integrated in this software, the two parties can further enhance the customer experience of various industries in Oman and the Gulf Cooperation Council (GCC) region.

JD.com's Double 11: The transaction volume of the new iPhone 17 series increased by 150% year-on-year, and nearly 40% of users traded in their old devices

JD.com data shows that since the start of the 11.11 promotion, the transaction volume of the new iPhone 17 series has increased by 150% year-on-year, and nearly 40% of users have chosen to trade in their old devices to get a new iPhone. It is understood that JD.com was the first to launch a major promotion for Apple products, offering exclusive benefits such as a 300-yuan surprise coupon, a large coupon for trade-in, and a national subsidy of up to 2,100 yuan. The 256GB version of the iPhone 17 is priced as low as 5,499 yuan, the iPhone 17 Pro starts from 8,699 yuan, and the iPhone 17 Pro Max starts from 9,699 yuan. During the Double 11 promotion, the official prices of multiple models in the iPhone 15 and iPhone 16 series have been directly reduced by 1,000 yuan, and you can get a new iPhone for as low as 3,399 yuan.

Starbucks Investors Call on the Company to Restart Negotiations with the Union Representing Baristas

It is reported that Starbucks investors are calling on the company to restart negotiations with the union representing baristas. (Cailian Press)

Runshi New Energy, a Subsidiary of CATL, Increases Its Capital to 10 Billion, a Surge of 414,838%

36Kr learned that according to the Aiqicha App, recently, Haikou Runshi New Energy Co., Ltd. underwent industrial and commercial changes. Its registered capital increased from 2.41 million yuan to 10 billion yuan, a surge of approximately 414,838%. The company was established in June 2024, with Zheng Shu as its legal representative. Its business scope includes research and development of new energy technologies, research and experimental development of engineering and technology, and research and development of online energy metering technologies. It is wholly owned by Contemporary Amperex Technology Co., Limited.

Volvo Group's net sales in the third quarter decreased by 5% year-on-year

On October 17, the Volvo Group released its financial report for the third quarter of 2025: net sales reached SEK 110.7 billion, a 5% year-on-year decrease; the adjusted operating profit was SEK 11.7 billion, compared with SEK 14.1 billion in the same period of the previous year. (Jiemian)

Waymo Plans to Launch Driverless Ride-Hailing Service in London Next Year

Waymo, a driverless technology company under Alphabet, said on October 15 local time that it plans to launch a driverless ride - hailing service in London, the UK, next year. Waymo said it will cooperate with the vehicle financing company Moove to prepare for the launch of the service in London and is actively engaging with local and national regulators to obtain the necessary approvals. (Caixin)

Investment and Financing:

Meta Reaches Nearly $30 Billion Financing Deal for Louisiana Data Center

It is reported that US tech giant Meta will secure a nearly $30 billion financing plan for its data center site in rural Louisiana, which will be the largest private capital transaction in history. According to people familiar with the matter, Meta and alternative asset management firm Blue Owl Capital will share ownership of the Hyperion data center site in Richland Parish, Louisiana, and Meta will retain only 20% of the equity. (Sina Finance)

New Products:

ERNIE 4.5's most powerful derivative model is released, and PaddleOCR-VL ranks first globally in comprehensive OCR performance

36Kr learned that on October 16th, Baidu officially released and open-sourced its self-developed multimodal document parsing model, PaddleOCR-VL. In the globally authoritative document parsing evaluation list, OmniBenchDoc V1.5, PaddleOCR-VL achieved the first place globally in comprehensive performance with a score of 92.6. It is understood that the core model parameters of PaddleOCR-VL are only 0.9B. It is lightweight and efficient, capable of accurately recognizing complex elements such as text, handwritten Chinese characters, tables, formulas, and charts with extremely low computational overhead. It supports 109 languages, covering multilingual scenarios such as Chinese, English, French, Japanese, Russian, Arabic, and Spanish, and is widely applicable to intelligent document tasks such as government and enterprise document management, knowledge retrieval, archive digitization, and scientific research information extraction.

Today's view:

ZhiJie Responds to "Switching to CATL Battery Cells": Only for Concentrated Deliveries in October and November, Subsequent Batches to Switch to Zhongchuang Ternary Lithium Batteries

On October 17th, in response to the news that "some ZhiJie models are switching to CATL battery cells", ZhiJie responded today that to ensure delivery efficiency, ZhiJie will use a batch of 82-kWh CATL batteries. These vehicles will be put into production and delivered in a concentrated manner from October to November. Before delivery, the vehicle owners will be informed of the battery brand used, and the vehicles will be delivered after obtaining confirmation. After the delivery of this batch of vehicles is completed, all subsequent batches of vehicles will switch to Zhongchuang ternary lithium batteries. In addition, both types of batteries are part of Huawei's "Gigantic Whale" 800V high-voltage battery platform. The battery performance, service life, and functions all meet the standards of the Gigantic Whale battery platform, and the warranty policies also remain the same. (Caixin)

Other News Worth Paying Attention To:

Central Bank Official: Appropriately Integrate Investment Channels to Attract More Overseas Institutions to Invest in the Domestic Market in an Orderly Manner

The person in charge of the Macro - Prudential Management Bureau of the People's Bank of China said that efforts should be made to further promote the high - level two - way opening up of the financial market. Enhance transparency, regularity, and predictability, improve the trading efficiency and liquidity of the financial market, appropriately integrate investment channels, and attract more overseas institutions to invest in the domestic market in an orderly manner. Support the construction of the Shanghai International Financial Center and build it into a center for RMB financial asset allocation and risk management. (Financial Times)

Deputy Governor of the Bank of Japan: If the economic outlook meets expectations, interest rates will continue to rise

Shinichi Uchida, the deputy governor of the Bank of Japan, reiterated the central bank's stance that it will continue to raise the benchmark interest rate if the economic outlook materializes. When speaking at a financial conference in Tokyo, Uchida said that the Bank of Japan will observe whether its economic outlook is realized as expected and will not have preconceived notions about whether the outlook will come true. Uchida also said that in the second half of the three - year forecast period ending in March 2028, the price trend will be in line with the Bank of Japan's inflation target. (Sina Finance)