36Kr Evening News | Cryptocurrencies Rebound, Analysts: Driven by Institutional Capital Inflows and Improved Economic Conditions; Multiple U.S. Companies Experience Internet Service Outages; Li-Ning Nearly 1,000 Stores Join Meituan Flash Delivery
Large Companies:
Internet Services of Multiple US Companies Experience Outages
Reuters reported today (October 20) that the internet services of multiple US companies have experienced outages. Affected companies include Amazon, the Robinhood stock trading platform, Snapchat, the Venmo mobile payment service under PayPal, and the cryptocurrency platform Coinbase. (CCTV International News)
On October 20, Chow Tai Fook stated, "Considering the impact of the continuous increase in gold prices on costs, the group plans to raise the retail prices of priced gold products at the end of October. The price increase for most products is expected to be between 12% and 18%. The group has a mechanism in place to closely monitor gold price fluctuations and make timely price adjustments to respond to market changes." Chow Tai Fook's gold jewelry and product categories include gold products sold by weight and at fixed prices. The price of gold sold by weight fluctuates daily according to international gold prices. The priced gold products had their prices increased in March this year, with an increase of about 10% to 20%. (The Paper)
JD updated some data information on the vehicle reservation page, mainly disclosing data related to body manufacturing processes and specifications. It is understood that in terms of the body structure, it adopts a high-strength cage design, with high-strength steel accounting for over 70%. The front three-dimensional protection frame enhances the body's impact resistance by 18%. On the side, it is equipped with an integrated hot-formed double door ring, using the same technology as Tesla's Cybertruck, and is paired with new national standard mechanical semi-hidden safety door handles. In terms of performance, the vehicle's curb weight exceeds that of similar models by 300 kg, the wheelbase is 45 mm wider than the industry average, and the tire width is 10 mm wider. The moose test result exceeds 75 km/h. (The Paper)
Nearly 1,000 Li-Ning Stores Join Meituan Flash Delivery
36Kr learned that on October 20, the Li-Ning brand announced its official entry into the Meituan Flash Delivery platform, with nearly 1,000 stores going live simultaneously, covering nearly 100 cities across the country. Public information shows that in the first half of the year, brands such as Topsports, Shengdao, Bananain, Anta, 361°, and Zhongqiao Sports successively joined Meituan Flash Delivery. According to Meituan Flash Delivery, several sports apparel brands will also join the platform for cooperation ahead of the Double 11 shopping festival.
The Louvre Museum in France announced today (October 20) that it will remain closed for the second consecutive day after a theft incident. (CCTV International News)
Well-Known Japanese Online Retailer Suspends Orders Due to Ransomware Attack
Well-known Japanese online retailer "Aeon" confirmed on the 19th that due to a ransomware attack, the company's network malfunctioned, and it has suspended accepting orders and shipments. Another well-known brand was also affected and suspended its online store sales. Aeon said that the company detected a malware virus infection in its system on the 19th and is currently assessing the extent of the damage and checking for any leakage of personal information and customer data. At present, the company has suspended services for corporate and individual customers and canceled previously accepted orders. (Xinhua News Agency)
US Coffee Prices Keep Rising, with Tariffs as a Driving Force
The continuous increase in coffee bean prices has caused anxiety among US coffee roasters and consumers. In August, the retail coffee price increased by nearly 21% compared to the same period last year. Part of the reason is the tariffs imposed by the Trump administration. In July, Brazil was subject to a high tariff of 50%, one of the highest rates. Vietnam and Colombia faced tariffs of 20% and 10% respectively. According to data from the National Coffee Association, over 99% of the coffee in the US relies on imports. (Sina Finance)
Investment and Financing:
Pony.ai and Others Invest to Establish an Equity Investment Partnership in Guangzhou
36Kr learned that the Aiqicha App shows that recently, Guangzhou Kechuang Zhixing Equity Investment Partnership (Limited Partnership) was established. Its business scope includes venture capital, equity investment through private funds, investment management, asset management, and other activities. Shareholder information shows that the enterprise is jointly invested by Guangzhou Xiaoma Huixing Technology Co., Ltd. and Guangzhou Industrial Investment Private Fund Management Co., Ltd.
The Margin Trading Balance in the Two Stock Exchanges Decreased by 27.193 Billion Yuan
36Kr learned that as of October 17, the margin trading balance on the Shanghai Stock Exchange was reported at 1224.048 billion yuan, a decrease of 13.733 billion yuan from the previous trading day. The margin trading balance on the Shenzhen Stock Exchange was reported at 1181.334 billion yuan, a decrease of 13.46 billion yuan from the previous trading day. The total balance of the two exchanges was 2405.382 billion yuan, a decrease of 27.193 billion yuan from the previous trading day.
36Kr learned that the Aiqicha App shows that recently, Ant Future (Hainan) Information Technology Co., Ltd. underwent industrial and commercial changes, and its registered capital increased from 10 million yuan to 3.5 billion yuan. The company was established in March 2018, with Ni Fanwei as its legal representative. Its business scope includes information technology consulting services, software development and design, and engaging in financial information technology outsourcing on behalf of financial institutions. It is wholly-owned by Hangzhou Ant Future Technology Co., Ltd., a subsidiary of Ant Group.
New Products:
Alibaba's Quark Secretly Launches "Project C": Involving Conversational AI Applications
Alibaba's Quark is promoting an AI business codenamed "Project C" internally. This project is led by Quark's core team, and several senior members from Tongyi Laboratory are also involved. Multiple sources revealed that this project is related to the layout of conversational AI applications, and the first new result will be launched soon. According to sources, "Project C" has been secretly promoted within Quark for a long time, and what is about to surface is only a phased result. (Sina Technology)
Microsoft's Next-Generation AI Chip May Be Manufactured by Intel
It is reported that Microsoft has placed a wafer manufacturing order for its next-generation AI chip, Maia 2, with Intel, planning to use the 18A or 18A-P process. This chip will be used in Microsoft's Azure data centers and other AI infrastructure. (Caixin)
Samsung to Release HBM4 at the End of October
It is reported that Samsung is accelerating the research and development of HBM4. It plans to release the sixth-generation 12-layer HBM4 at the Samsung Tech Day 2025 from October 27th to 31st and mass-produce it later this year. (Caixin)
Today's Opinions:
Today, at the Academic Annual Conference of Meituan Robotics Research Institute at IROS 2025, Wang Xingxing said that everyone hopes that the hardware is good enough so that the software can run smoothly on the first try. However, in reality, the results are very poor. He has always adhered to the view that as AI and software capabilities get stronger, the requirements for hardware are getting lower. Wang Xingxing believes that as AI capabilities get stronger, the algorithms trained by AI have much lower requirements for hardware than traditional algorithms. (Sina Technology)
India Reportedly Promoting the Expansion of Rupee Settlement with Major Trading Partners
It is reported that the Reserve Bank of India is taking active measures to make it more convenient for trading partners to settle transactions with India in rupees. This move may help boost the local currency in the future. People familiar with the matter revealed that the initial measures include establishing a direct rupee exchange rate that does not rely on third-party currencies such as the US dollar as a reference. (Caixin)
36Kr learned that Shanshui Technology announced that Huang Guorong, the actual controller, chairman, and general manager of the company, has been taken into criminal custody for personal reasons. The company has held a board meeting, and Director Wu Xinyan will perform the duties of the chairman and legal representative on behalf of Huang, as well as the duties of members of relevant board committees and the general manager. Currently, the company's production and operations are normal, and the management will strengthen business management.
Other Notable News:
An article in the "Financial News", which is under the supervision of the central bank, stated that the person in charge of the Research Bureau of the People's Bank of China said that during the "14th Five-Year Plan" period, the People's Bank of China followed the principle of "domestic unity, international alignment, and clarity and enforceability" to promote the green finance standard system to enter a new stage of deepening and refinement from framework building, laying a solid institutional foundation for financial support for green and low-carbon development. First, the multi-field standard system has been gradually constructed. Currently, China has issued 1 national standard and 9 industry standards, and more than 30 green finance standards are under research. Second, important breakthroughs have been made in transition finance standards. To meet the needs of the comprehensive green transformation of the economy and society, the People's Bank of China promotes the connection between green finance and transition finance based on the market principle, gives priority to supporting fields with advanced technology and significant carbon emission reduction benefits, and promotes the introduction of transition finance standards. Currently, the transition finance standards for the four major industries of steel, coal power, building materials, and agriculture, led by the People's Bank of China, have been tested in more than 20 provinces and cities. Third, the standard systems for biodiversity finance and blue finance are being gradually established. As of now, more than 20 provinces and cities have launched the trial use of the biodiversity finance catalog, effectively promoting the "nature-benefiting" transformation of the economy and society.
Bitcoin rebounded above $110,000 in early trading on Monday. As traders regained confidence in the macroeconomic situation, the cryptocurrency market generally rose. Data shows that Bitcoin rose 3.16% in the past 24 hours, trading at $110,544. Bitcoin's price had been below $110,000 for the previous four days. Rachael Lucas, a cryptocurrency analyst at BTC Markets, said, "Bitcoin's recent rebound, now trading above $110,000, is driven by both institutional capital inflows and improved macroeconomic conditions." Lucas said that despite the macroeconomic headwinds, traders are now considering the possibility of an interest rate cut in October and an early end to quantitative tightening. (Sina Finance)